1360. Bank of Clear Creek County (Georgetown, CO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 1, 1893
Location
Georgetown, Colorado (39.706, -105.698)

Metadata

Model
gpt-5-mini
Short Digest
753d9c30

Response Measures

None

Description

Contemporary articles report the Bank of Clear Creek County made an assignment on July 1, 1893 and posted a placard saying they would resume if they could obtain money on securities. The assignment to a trustee indicates voluntary insolvency/assignment rather than a temporary suspension followed by reopening. No article describes a distinct depositor run on this specific bank.

Events (1)

1. July 1, 1893 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank made an assignment to a trustee/assignee (voluntary assignment in insolvency); placard said would resume only if funds could be obtained on securities; liabilities reported but assignment indicates voluntary insolvency/liquidation rather than regulator closure or a simple temporary suspension.
Newspaper Excerpt
GEORGETOWN, Colo., July 1.-The bank of Clear Creek county made an assignment yesterday.
Source
newspapers

Newspaper Articles (8)

Article from Asheville Daily Citizen, July 1, 1893

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Article Text

BANK TROUBLES. Some Have Assets Enough, But Cau'l Realize GEORGETOWN, Colo., July 1.-The bank of Clear Creek County made an assignment vesterday. Assets, $397 000; liabilities, $223,000. SALT LAKE CITY, Utah, July 1.-The First National bank of Prona closed its doors yesterday. Assets $115,000; lia bilities same. FORT WORTH, Texas, July 1.-The Exchange bank at Iowa Park closed its doors yesterday. Liabilities and assets unknown. but it is believed the depositors will be paid in full. A sudden with. drawal of depositscaused the suspension.


Article from Evening Star, July 1, 1893

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BANKS CLOSE THEIR DOORS. At Rico, Colo., the Miners Are Excited and Talk of Shedding Blood. SALT LAKE, UTAH, July 1.-The First National/Bank of Provo closed its doors yesterday morning. A. O. Senoat is president and W. H. Dusenberry cashier. The assets are $115,000 and the liabilities are the same. Inability to make collections is the cause of failure. GEORGETOWN. COL., July 1. - The bank of Clear Creek county made an assignment yesterday. The assets amount to $397,000, while the liabilities are but $223,000. DENVER, COL., July -The First National Bank of Rico closed its doors yesterday because of a run. Matters are decidedly critical, for the miners are excited and talk wildly of bloodshed. Those dismissed from work were Said with checks on the bank and they are clamoring for coin. All business firms haye shut down on credit. FORT WORTH, TEX., July 1.-The Exchange Bank at Iowa Park closed its doors yesterday. The liabilities and assets are unknown here, but it is believed the depositors will be paid in full. A sudden withdrawal of deposits caused the suspension.


Article from The Times, July 2, 1893

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Several Bank Failures. GEORGETOWN, COL., July 1.-The bank of Clear Creek county made an assignment yesterday. The assets amounted to $397,000; liabilities, $223,000. SALT LAKE, UTAH, July 1.-The First National Bank of Provo closed its doors yesterday. The assets are $115,000; liabilities same. Inability to make collections is the cause of the failure. FORT WORTH, TEX., July 1.-The Exchange Bank at Iowa Park closed its doors yesterday. The liabilities and assets are unknown here, but it is believed that the depositors will be paid in full. A sudden withdrawal of depositors caused the suspension. OMAHA, NEB., July 1.-The Nebraska National Bank of Beatrice, capital stock $100,000, and the American Bank of Beatrice, a small concern, both closed their doors to-day.


Article from The Sun, July 2, 1893

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Minor Business Troubles. GEORGETOWN. Col., July -The bank of Clear Creek county made an assignment yesterday to Lafayette Hanchett. A placard was hung un on the window of the bank announcing as follows: "If conditions change so that we can obtain money on our securities we shall resume at once. The assets are $397.900. liabilities $233,000. GLOUCESTER Mass.. July 1. - A voluntary petition in insolvency has been filed by G. Hodgkinson & Co., rish merchants. They owe $42.607. and have assets of about $13,000. CHATTANOOGA. July 1.-The Bloch Drug Company made a general assignment yesterday. No preference. The assignment is made to protect the business for liquidation. as it has been the intention for some time to wind the business up. The liabilities are about $50,000 and the assets are said to be ample to pay all creditors. Prosper Lazard was named as trustee. PITTSBURGH, July 1. - The Speer White Sand Company of 91 Fifth avenue. made an assignment this afternoon to J. H. Speer city, one of the company's officials. Mr. Speer said that its liabilities are $60,000. and its assets $250,000. According to Mr. Speer the stringency of the money market. unfortunate investments in sand lands and works at Dawson. Pr.. and the unusual shut down of the plate glass mills caused the difficulty. SALT LAKE. Utah. July The First National Bank of Provo closed its doors yesterday morning. The assets and liabilities are each $115,000. Officials expect the bank will soon resume business MUSKEGON. Mich., July 1.-The Muskegon Iron and Steel Company went in n receiver's hands yesterday. Assets and liabilities are not obtainable, the receiver being at work on the list. The company has a paid up capital of $200,000, and last January reported debts of $160,000; credits. $20,000: real and personal property. $316,000. BEATRICE. Neb.. July ..-The Nebraska National Bank and American Bank failed to open their doors this morning. Each bank had a capital of $100,000. RED CLOUD. Neb., July -The Farmers' and Merchants' Bank of this place closed yesterday. No statement has been made.


Article from New-York Tribune, July 2, 1893

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MORE WESTERN BANKS CLOSE THEIR DOORS. Denver, July -The First National Bank at Rico closed Its doors yesterday, because of a run. Matters are decidedly critical, for the miners are excited and talk wildly of bloodshed. Those dismissed from work were paid with checks on the bank, and they are clamoring for coin. All business firms have shut down on credit. GeorgeTown, Col., July 1.--Owing to the unexpected demands made during the last few days, the Bank of Clear Creek County made an assignment yesterday morning to Lafayette Hanchett. A placard was hung upon the window of the bank announcing as follows: s If conditions change so that we can obtain money on our securities, we shall resume at once." The assets of the institution are more than ample to meet very obligation. They amount to $397,000, while the liabilities are only $233,000. Salt Lake City, Utah, July 1.-The First National Bank of Provo closed its doors yesterday morning. A. O. Senoat is president, and W. H. Dusenberry cashier. The assets are $115,000, and the liabilities are the same. Inability to make collections or rediscounts is the cause of the failure. Officials expect the bank will soon resume business. Beatrice, Neb., July 1.-The Nebraska National Bank and American Bank failed to open their doors this morning. Each bank had a capital of $100,000. Washington, July 1.-Controller Eckels to-day appointed J. H. Adams receiver of the failed Citizens' National Bank of Spokane, Wash. He also directed Bank Examiner Swan to take charge of the failed First National Bank of Provo, Utah, Bank Examiner Latimer to take charge of the failed Nebraska National Bank of Beatrice, and Bank Examiner Aubry, to take charge of the First National Bank of Rico, Col. All the banks are small institutions.


Article from Grant County Herald, July 6, 1893

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BANKS FAIL. Several Financial Institutions in Various Places Forced to Suspend. GEORGETOWN, Col., July 1.-The Bank of Clear Creek county at this place made an assignment yesterday with liabilities of $233,000 and assets of $397,000. Provo, U. T., July 1.-The First national bank of this place closed its doors yesterday, with liabilities of $60,000. SALIDA, Col., July 3.-The Chaffee county bank, of which William E. Robertson is cashier, has made an assignment to S. J. Foster, of this city. Mr. Foster says that the liabilities are between $80,000 and $90,000. The deposits are $73,000, including $21,000 in certificates of deposit. He is unable to give the assets. OURAY, Col., July 3.-The First national bank of this place closed its doors Saturday. Deposits amount to about $50,000 and notes and discounts to about $120,000. No definite statement has been made. BEATRICE, Neb., July 3.- - The Nebraska national bank and the American bank failed to open their doors here. Each bank had a capital of $100,000.


Article from The Times, July 7, 1893

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business Tailures ported in the United States during the seven days ended on the St0h ult. In the week preceding there were 217, and durtime was 190. For the the failures of ing number 1893 the corresponding number in six 1892 months 6,401, the against 5,503 during the same period 1892, showing an increase of 898. The total liabilities in the first six months of 1893 are $168,000,000, while the same period in 1892 they were $62,000,000, showing an increase of $106,000,000. DURING the week ended on the the 30th ult. leading clearing houses in the United States reported exchanges amounting to $936,117,887, against $3,309,822 the previous week. As compared with the corresponding week of 1892 the decrease was 7.4. THE First national bank of Provo, Utah, closed its doors, with liabilities of $60,000. A VIOLENT rainstorm, followed by hail, passed over a portion of Iowa in the vicinity of Boone, doing great damage to growing crops. THE American and European copper producers have formed a trust, the properties affected being valued at over $200,000,000. THE Muskegon (Mich.) Iron & Steel company went into a receiver's hands with liabilities of $150,000. WILLIE KEYS, aged 8, and George Compton, aged 6 years, were fatally burned by a gasoline explosion at Hamilton, O. JOE BIRD, a negro, was shot at Wilburton, I. T., by order of the court for murdering his wife and mother-in-law. DURING the months of May and June the total paid attendance at the world's fair 3,728,579. AT the session of the Epworth league in Cleveland a report was adopted asking the world's fair commissioners, on behalf of more than a million people, to close the exposition on Sunday. THE total government receipts during the last fiscal year aggregated $385,000,000 and the expenditures were $383,000,000, leaving a surplus of $200,000,000. SAM WILSON, the lone bandit who robbed the express car of the Missouri Pacific train a few weeks ago, was sentenced'at St. Louis to fifteen years in the penitentiary. WILLIAM PINKNEY and Daniel Barber, both colored, were executed at Marlboro, Md., for the murder of Francis M. Bowie, a wealthy farmer of Prince George county, the evening of March last. SCOTT WIKE, of Illinois, has been appointed assistant secretary of the treasury, and James F. Tillman, of Tennessee, register of the treasury. THE Bank of Clear Creek county at Georgetown, Col., made an assignment with liabilities of $233,000 and assets of $397,000 LIGHTNING set fire to the prairie in Hodgeman county, Kan., and three farm houses and many head of horses and cattle were burned. PRESIDENT CLEVELAND has issued a for the convening conin on Auproclamation gress extraordinary session of gust 7 to consider the financial situation. GUS ALBERS (white) was hanged at New Orleans for the brutal murder of Mrs. Wiemann, a widow lady who had very frequently befriended him. JOHN BERRY, the cowboy who was the first to arrive in Chicago in the great race from Chadron, Neb., was awarded the first prize of $1,000. THE public debt statement issued on the 1st showed that the debt decreased $1,217,258 during the month of June. The cash in the treasury was $745,004,601. The total debt, less the cash balance in the treasury, amounts to $838, 969,476. ROBERT P. PORTER, superintendent of the census, tendered his resignation. WILLIAM B. SHAW, ex-cashier of the Lincoln national bank in Bath, Me., was sentenced to ten years in state's prison for embezzlement. TEN lives were lost by floods from a crevasse at the New river basin near New Orleans. CLIFFORD CALVERLY walked across the Niagara gorge at Niagara Falls a three-quarter inch wire cable. He also wheeled a cooking range out on t and there lighting a fire in it cooked several dishes of food, which he ate. R. E. PEARY'S ship Falcon left New York for the Arctic ocean. THE total amount of money received for duties, etc., at the New York custom house during the year ended on the 1st was $138,000,000. AT the session in Chicago of the National Association of Elocutionists F. F. Mackay, of New York, was elected president. THE military department of Arizona has been reorganized under the name of the department of Colorado and headquarters established at Denver. A STATEMENT of the government bureau of statistics shows the value of merchandise imported for the world's fair was $12,160,042. A CONVENTION of the advocates of free coinage will be held at St. Louis July 17. THE gold reserve in the treasury at Washington on the 1st was $95,485,413, or $436,773 more. than a month ago. T.J. WOOD, until recently cashier of the Ninth national Tex., was on the embezzling of the arrested $229,000 bank bank's charge of Dallas, money. of THE percentages of the baseball clubs


Article from Perrysburg Journal, July 8, 1893

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MRS. GUS WALDIN of Burlington, post-mortem Ia. died so suddenly that held and a it was disexamination was the heart, although per covered fectly healthy, that had been burst by some tremendous emotion. rewere 834 business failures THERE in the United States stohult. during In the the ported days ended on the and durseven preceding there were 217, in 1892 the week the corresponding time six months ing 190. For the 6,401, number was the failures number period in of 1893 503 during the same of 898. The against showing an increase months 1892, in the first six same total liabilities $168,000,000. while $62,000,000, the of 1893 are in 1892 they were period increase of $106,000,000. the showing an the week ended on the in 30th the ult. DURING leading clearing reported houses exchanges United amounting States to $936, 117,887, week. As against com$3,309,82 with the the previous corresponding week of pared the decrease was 7.4. 1892 First national bank of liabilities Provo, Utah. THE closed its doors, with of $60,000. rainstorm, followed Iowa by in A VIOLENT over a portion of damhail, the vicinity passed of Boone, doing great THE a formed age to growing American crops. and European trust, copper the producers properties affected have being valued at over $200,000,000. Muskegon (Mich.) Iron & hands Steel THE went into a receiver's with company liabilities of $150,000. George KEYS, aged 8, and fatally WILLIE aged 6 years, were at burned Compton. by a gasoline explosion Hamilton, O. Wila negro, was shot court at for JOE BIRD, I. T., by order of mother-in-law. the burton, his wife and and June murdering the months of May world's the DURING total paid attendance at the fair was 3,723,579. session of the Epworth league ask AT the a report was adopted on in Cleveland world's fair commissioners, people, to ing the of more than a million behalf exposition on Sunday. close the total government receipts aggregated durTHE last fiscal year were ing the and the expenditures of $200,$885,000,000 $883,000,000, leaving a surplus 000.000. WILSON. the lone bandit Missouri who SAM the express car of the was senrobbed a few weeks ago, in tenced Pacific at train St. Louis to fifteen years the penitentiary. PINKNEY and executed Daniel Bar- at WILLIAM both colored. were of Franof ber, Md., for the murder farmer Marlboro, Bowie, a wealthy of Prince George cis M. county, the evening March 26 last. WIKE. of Illinois, has the been treas- ap SCOTT assistant secretary of of Tenpointed and James F. Tillman, ury. register of the treasury. Creek nessee, Bank of Clear an county assignTHE Col., made and ment at Georgetown with liabilities of $233,000 assets of $397.000 set fire to the prairie three in LIGHTNING county, Kan., and horses farm Hodgeman houses and many head of and cattle were burned. a issued CLEVELAND has of conPRESIDENT for the convening on Auproclamation extraordinary session situagust 7 gress in to consider the financial tion. GUS ALBERS (white) brutal was hanged murder of at New Wiemann, Orleans for a the widow lady who had was Mrs. frequently befriended him. who very BERRY, the cowboy in the JOHN to arrive in Chicago was the first from Chadron, Neb., on awarded great race the first prize of $1,000. issued public debt statement decreased THE showed that the debt of June. the 1st during the month $745,004. $1,217,258 cash in the treasury was the cash balThe The total debt, less to $838, ance 601. in the treasury, amounts of 969,476. P. PORTER, superintendent resignation. ROBERT tendered his of the bank the WILLIAM census. B. SHAW, ex-cashier in Bath. Me., sentenced Lincoln national to ten years in state's from a was prison for embezzlement. Orleans. crevasse TEN lives at were the New lost by river floods basin near i New CALVERLY walked Falls across f CLIFFORD gorge at Niagara cable. He 1 the Niagara inch wire out a three-quarter wheeled a cooking range it cooked on also it and there lighting a which fire in he ate. several E. dishes PEARY'S of ship food, Falcon left New e R. for the Arctic ocean. York amount of money received THE total at the New York cus- the t for tom duties, house etc., during the year endedor 1 1st was $188,000,000 session in Chicago of the F. Na- F. 1 AT the Association of Elocutionists elected Mackay, f tional of New York, was a f president. THE military department under of the Arizona name s of the established at has been department reorganized of Colorado Denver. and headbut quarters of the government value of A STATEMENT statistics shows the world's a merchandise reau of imported for the e fair was $12,160,042. of the advocates Louis of t free A coinage CONVENTION will be held at St. 1 July 17. gold reserve in the treasury $95,485,413, at or Washington THE on the 1st was month ago. r $436,778 more than a anchier of