1402. Carbonate Bank (Leadville, CO)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
July 3, 1893
Location
Leadville, Colorado (39.251, -106.293)

Metadata

Model
gpt-5-mini
Short Digest
287a744b

Response Measures

Accommodated withdrawals

Description

A run occurred on the Carbonate Bank on 1893-07-03 but was handled by the bank (paid out funds as checks were presented) and ceased at noon; the American National bank in Leadville suspended the same day, which likely sparked the run on the Carbonate. No suspension or closure of the Carbonate is reported.

Events (1)

1. July 3, 1893 Run
Cause
Local Banks
Cause Details
Run occurred the same day the American National Bank in Leadville suspended payment; news of that suspension likely prompted depositors to attempt withdrawals at Carbonate.
Measures
Directors had made prudential preparations; paying teller handed out funds as checks were presented; disbursement continued steadily until near noon.
Newspaper Excerpt
There was a run on the Carbonate bank this morning, but it ceased at noon.
Source
newspapers

Newspaper Articles (2)

Article from Fort Worth Gazette, July 4, 1893

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Article Text

Stood the Runs. Leadville, Colo., July 3.-Before the hour off jopening an immense crowd gathered for a run on the Carbonate and American banks The directors of each had long been expecting it and the managers had made such prudential preparations for the energency as was in their power. The-Carbonate was soon filled with an eager crowd of depositors, all showing more or less anxlety. The paying teller handed out the funds as fast as the checks were preseuted, however, and the process of disbursement went steadily on until near noon. The only other incident of the morning's business was the frequent appearances of the bank's regular commercial customers with deposits of such funds as they were able to collect during the morning. Among this class was unt manifest the slightest uneasiness, and not a single account was closed by the withdrawal of funds, President


Article from Morning Journal and Courier, July 4, 1893

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Article Text

COMPELLED TO SUSPEND. More Banks Are Obliged to Close Their Doors. LEADVILLE, Col., July 3 -The American National bank, owing to the impossibility of realizing upon its securities has been compelled to suspend payment. The officers state that the bank's resources are $536,134, liabilities $342,625, and that depositors will be paid in full. There was a run on the Carbonate bank this morning, but it ceased at noon. LARNED, Kans., July 3.-The Pawnee County bank closed Saturday night, and the Larned State bank failed to open this morning. A receiver of the Larned has been appointed, and the Pawnee county has assigned. The liabilities of the Pawnee are $18,000 and of the Larned $28,000. Both have notes and discounts considered ample to cover all liabilities.