1329. Union Bank (Denver, CO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 29, 1895
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini
Short Digest
512818ee

Response Measures

None

Description

Multiple contemporaneous newspaper accounts (dated July 29, 1895) report the Union Bank of Denver closed and in the hands of the Government after county commissioners demanded $75,000 of county funds; Controller of the Currency report and mention of U.S. bonds securing circulation indicate this was a national bank. No run or depositor panic is described in these articles — the closure appears to be a government-enforced suspension leading to permanent closure/receivership.

Events (2)

1. July 29, 1895 Receivership
Newspaper Excerpt
The doors of the Union Bank here are closed and that institution is in the hands of the Government. The County Treasurer's office was closed this morning, the bankers ... withdrawing from Treasurer Wygant's bond of half a million dollars.
Source
newspapers
2. July 29, 1895 Suspension
Cause
Government Action
Cause Details
County commissioners demanded $75,000 of county funds held by the bank; bank did not pay and closed; described as 'in the hands of the Government.'
Newspaper Excerpt
The doors of the Union Bank here are closed and that institution is in the hands of the Government.
Source
newspapers

Newspaper Articles (6)

Article from New-York Tribune, July 30, 1895

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Article Text

A DENVER BANK GOES UNDER. UPSET BY A DEMAND FOR $75,000 OF PUBLIC FUNDS-COUNTY TREASURER'S OFFICE CLOSED Denver, July 29.- - The doors of the Union Bank here are closed and that institution is in the hands of the Government. The County Treasurer's office was closed this morning. the bankers, Moffatt. Cooper and MeIntosh, withdrawing from Treasurer Wygant's bond of half a million dollars. New bondsmen presented were declined and the office closed. The failure of the Union Bank this morning affects no other Denver bank. It was a comparatively small affair and should not have opened after the panic of January, 1893. When Mr. Moffatt and other bankers withdrew from the County Treasurer's bonds President Woodbury, of the Union, offered to take Mr. Moffatt's place. The County Commissioners declined the proffer and demanded from Mr. Woodbury's bank the $75,000 of county funds he held. The bank did not pay, but closed up. Treasurer Wygant and his attorneys declare there is no misapplication of funds in their department in any particular. Washington, July 29.-The report of the condition of the Union Bank of Denver on July 11 last, called for by the Controller of the Currency, reached the Department this afternoon. It showed that the bank's loans and discounts amounted to $1,058,495. besides overdrafts of $3,460. It had $66.> 812 cash on hand, $24,140 exchanges for clearing house. Its other assets, the total being $1,703,896. included $6,750 redemption fund: $150,000 United States bonds to secure circulation: $55,390 of stocks and securities: $109,554 real estate and mortgages. and $231,793 due from other banks. The liabilities included $500,000 capital stock; $80,619 surplus fund, undivided profits and unpaid dividends; notes outstanding. $135,000: due to other banks, $176,766: deposits, $555,101; bills payable and rediscounts, $256,410.


Article from The Times, July 30, 1895

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Article Text

A COLORADO BANK FAILS. It Results in a Vacant County Treasurer's Office. DENVER, COLORADO, July 29.The doors of the Union Bank, in Denver, Col., are closed, and that institution is in the hands of the Government, The county treasurer's office was closed yesterday morning, Bankers Moffett, Cooper, and McIntosh, withdrawing from Treasurer Wygant's bond of half a million dollars. New bondsmen presented were declined, and the office was closed. The failure of the Union Bank this morning affects no other Denver bank. It was a comparatively small affair, and should not have opened after the panic of January, 1893. When Moffett and other bankers withdrew from the county treasurer's bond, President Woodburn, of the Union Bank, offered to take Mr. Moffett's place. The county commissioners declined the proffer, and demanded from Mr. Woodbury's bank the $75,000 of county funds he held. The bank did not pay, but closed up. The officers declare that there is no application of funds in their department in any particular.


Article from The Morning News, July 30, 1895

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Article Text

A FINANCIAL FLURRY, A Bank and the County Treasurer's Office at Denver Closed. Denver, Col., July 29.-The doors of the Union Bank here are closed and that institution is in the hands of the government. The county treasurer's office was closed this morning, Bankers Moffett, Cooper, and McIntosh withdrawing from Treasurer Wygants' bond of $500,000. The new bondsmen presented were declined, and the office was closed. The failure of the Union Bank affects no other Denver bank. It was a comparatively small affair, and should not have opened after the panic of January 1893. When Mr. Moffatt and other bankers withdrew from the county treasurer's bonds, President Woodbury of the Union offered to take Mr. Moffatt's place. The county commissioners declined the proffer and demanded from Mr. Woodbury's bank the $75,000 of county funds he held. The bank did not pay, but closed up. Treasurer Wygant and his attorneys declare there is no misapplication of funds in their department in any particular.


Article from Burlington Weekly Free Press, August 1, 1895

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on's Hole country-English Tories su nine votes over any coalition-Dea Judge Blanke of Chicago-Washin county, Maine, voted $500,000 towa he new railroad for that sectionFailure of the Union bank of DenverMember of Montreal firm confesses complicity in firing his property-C harder Aurania disabled at sea-Ne cale of cutters' prices announced f Brockton (Mass.) shoe workers-Ho Harvey silver debate ended-J. Morgan & Co. deposited $2,000,0 gold with New York sub-treasury account of the bond syndicateAnother French war prophesied in Berl Arkansas river flooded its valley a ruined crops-Death rates doubled East London by water famine-Congre of Catholics in Munich may be able cause a reorganization of the Centr party in Germany - - Buildings of 1 Spirit Bonded House company, on the i and Steinwarder, Germany, destroyed ire-United States government sent tions to relieve the destitute negro c onists at present in Torreon. Mex-P of Montana protest against the P posed consolidation of the Great Northe and Northern Pacific systems-Riotir attended with bloodshed, occurred in : Hebrew colony on Siegel street, Brookly caused by some of the striking tailors attempting to prevent non-union m from working. Wednesday, July 31. Vigilant held the Defender nearly ev on the New York Yacht club cruise run New London, Conn Friends of Mrs. Gardner of Areadia. Neb., whose dea has been reported in Boston, fear for play-Horse thief named Hatch snys can convict Holmes of seven murdersTown of Fort Scott. Kan., inundated water. Two persons drowned-Schoo wrecked, and Captain Kenneally Charlestown, Mass., drowned, at F Island, N. Y-Stormy sitting of Italian chamber of deputies-Le Wodehouse fined at East Norfo Eng., for disorderly conduct-We the amphitheater for the Corbe Fitzsimmons fight at Dallas to begin once-Athletic team to be sent by Ca bridge university to this country to co pete with Yale selected-Powers to u Japan to at once evacuate the Liao-To peninsula-Tailors seem to be winni their strike in New York-Defaulti teller of the Bank of Montreal saved fr murder and suicide by his bride-B num & Bailey show sued Ringling Br for libel-Man had his face torn off the bursting of an emery wheel at Pa tucket, R. I-New York Republican sta convention to held Sept. 17-Ailsa b Britannia in the Royal Cork regatta Police obtained a slight clew in the berta Stuart case - Overdue stean Aurania arrived in New York-Missi Bank Treasurer Walden of Williman Conn., said to have been seen in Bost -Seizure of Brazilian islands by Brit may lead this country to protest-W Rainier, formerly of Boston, abandor his wife in Washington, and is charg with embezzlement - French Cath convention held at New Haven-C nelius H. Gurney, who was murdered St. Augustine, Fla., belonged in Brid water, Conn Captain Henry B. F: banks of Worcester, Mass., elected ma of the Second Massachusetts regimentItalian mass meeting in Boston así Governor Morton to commute Maria E beri's sentence — - Lucius Dunbar, West Bridgewater (Mass.) man who . reported as missing, returned homeHenry A. Muller dropped dead his store at Portland, Me - La rence university, Kansas may have funds this year-Mayor Strong of N York wants home rule on the liquor qt tion-An almost total absence of seal northern waters nofed—A. W. Spen ex-president of the Boston Stock Exchan is dead-Pope will be asked to clos brewery operated by priests near Latro Pa-Osage Indians forced to char the r location by Kansas river overf -President Cleveland has not stated his position regarding the presidencyColonel William W. Winthrop, assist judge advocate general, to retireCharlotte M. Thomas, Baptist mission in India, is dead - Massac setts Ship Canal company given thority to issue $500,000 in st -All brewers in the country \ oppose the proposed additional taxat of beer-Railroads will need 10,000 I cars to meet prospective demands transportation - Only 12 Social elected in 1425 districts in the Fre councillors general election - Gy moths stripped a tract of woodland Woburn, Winchester and Lexingt Mass-Trial of Tom O'Brien, the Am can swindler. who killed his partr


Article from The Progressive Farmer, August 6, 1895

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UN-"SOUND MONEY" MEN, J. H. Armandy, formerly cashier the First National bank at Larned, of Kan., has been arrested for coining counterfeit money. R. B. Anderson, a prominent speculator at Karsas City, Mo., has disap. peared. It is thought that he has com. mitted suicide. The Union bank at Denver, Col., closed on the 29th ult. The owners of the bank were on the bond of the county Treasurer for $500,000 and their failure saused the closing of his office. The Biosland-Parcele-Jordan Shoe Company, St. Louis, has been closed by creditors attachments. Liabilities about $89,000. Geo. A. Raney, sound money mer. chant, Boydton, Va., has assigned. Liabilities about $5,000. (Sound). Geo. A. Yost, New York, inventor and manufacturer of typewriters, has assigned. Liabilities run away up into the thousands. John W. Walden, cashier of the Dime Savings bank, Wilmantic, Conn, has skipped, carrying with him $20,000 sound dollars. They were honest dol. lars, too, but he didn't get them honest. He clamored for "sound money" up to the day he left. Last year bank officials defaulted, embezzled and ran away with $25,000,000, most of it belonging to depositors. If in silver it would take 12,000 men carrying 120 pounds each to tote it off But these same fellows are for "honest money." The West Asheville Improvement Company battled with "returning prosperity" until it is now in the hands of a receiver. It wont do to try to stem the tide of returning prosperity. Still they come! Robert C. Scott, city Treasurer, Jacksonville, Fla., is under arrest. The charge is that he misappropriated $10,707 "sound" dol lars during his last term of office. He is a pretty bird to talk about "honest money." The Standard Wagon Company and the Davis Company both went "up the spout" in Cincinnati last week. The single standard don't buy wagons fast enough. The Standard Company owes $400,000 "sound" dollars, and the Davis Company $150,000; assets considerably less,


Article from The Abbeville Press and Banner, August 14, 1895

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Domestic. RECORD OF THE LEAGUE CLUBS. Per Per ct. Lost Won Clubs. Clubs. Won. Lost. et Cleveland. 52 34 .605 Chicago 48 39 552 New York 41 36 .532 Pittsburg 48 33 .593 .526 Baltimore. 44 31 .587 Brooklyn 41 37 Cincinnati 45 35 .563 Washing'n 25 47 .347 .833 33 .560 St. Louis 28 56 42 Boston Philadel 42 34 .553 Louisville 18 59 .234 Richard M. Hunt, the noted architect, died in Newport, B. L, after a brief illness. In the run of the New York Yacht Club from New London, Conn, to Newport, B. L, the Defen der outsailed the Vigilant by more than twelve minutes. The New York City Police Board appealed for 325 intelligent and able-bodied recruits for the force. Frank Burkett was nominated for Governor by the Mississippi Populists at Jackson and a full State ticket was put in the field. Fire in Menominee, Wis., destroyed & number of saw and planing mills and 25 000,000 feet of lumber. The loss will reach nearly $500,000. Simon Wormser, member of the banking firm of I. & S. Wormser, died suddenly from heart disease on the street in New York City. Everything was reported to be quiet at the scene of the threatened Indian disturbances in Wyoming. At the Coroner's inquest into the death of Lillie Low in New York City no mention was made of the three persons arrested in connection with it. and after the jury had returned a verdict of suicide they were discharged. The Defender was outsailed by the Vigilant, and under weather conditions in which her owners claimed the new boat would romp right away from the old cup defender. There was a strong wind and a heavy sea. Four miles from the finish the Defender's steering geer became deranged. This probably saved her from defeat. The Cunard steamship Aurania was found disabled in midocean by two steamships. but declined assistance, as her captain decided to make repairs and bring the vessel into New York under her own steam. Secretary Herbert arrived on the Dolphin and inspected the Brooklyn Navy Yard. A large number of colored women assembled in Boston and formed a National League. The doors of the Union Bank, Denver, Col., were closed and that institution is in the hands of the Government. It was upset by a demand for $75,000 of public funds. The County Treasurer's office was closed also. The silver debate between Roswell G. Horr and William H. Harvey, in Chicago, ended. Sergeant Franklin T. Germann, of New York City, while on duty got word that his wife and oldest boy. George, eight years old, had been drownedin Spring Lake, New York, while out boating. Dr. George Drury, of Brooklyn, was summoned to an empty house to attend a case of illness, and was there set upon by three men, bound, gagged and robbed. Fire at Rockville, Conn., destroyed six buildings. The loss is estimated at $100,000. M. E. Cummings, Cashier of the Utah Commercial Savings Bank of Salt Lake City, is alleged to be & defaulter to the extent of over $10,000. Santa Barbara, Cal., experienced an earthquake shock. The first of a fleet of iron canal-boats to' navigate Lake Erie and the Erie Canal was launched at Cleveland, Ohio. At Ceredo, W. Va., Mrs. Wm. Pierce and her son Franklin were drowned at the public landing. They were strangers in that city, having gone there from Middleport, N. Y. At San Francisco, Cal., William Fredericks wat hanged for murder. He made a short speech from the gallows. He shot down Cashier Herrick in a San Francisco bank. Tillie Hein, in attempting to change her seat in a pleasure boat. in midstream, at Otter Dam, north of Burlington, Iowa, overturned the boat, and, with Joseph Nelte and: Arthur Walters, was drowned. The Woman's Home Missionary Society of the Methodist Church opened its annual convention at Ocean Grove, N. J.