Bank of Montrose - Montrose, CO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Montrose, Colorado (38.478, -107.876)

Metadata

Model: gpt-5-mini
Short Digest: 012d8953

Response Measures

None

Description

Article (1900-01-04) states 'failure of the bank of Montrose' and that state funds are due; no mention of a depositor run or reopening, and no explicit receiver named. Classified as a suspension/closure due to bank-specific failure.

Events (1)

1. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Article describes a failure of the bank and an outstanding $17,000 due the state from deposits of state funds; implies insolvency/closure rather than a run.
Newspaper Excerpt: failure of the bank of Montrose, where Mr Kephart deposited state funds
Source: newspapers

Newspaper Articles (1)

1. January 4, 1900 Daily Camera Boulder, CO

Article from Daily Camera, January 4, 1900

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Article Text

Attorney General Campbell has noti fied Mr Moffat and other bondsmen of ex State Treasurer Kephart that $17,000 due the state by reason of failure of the bank of Montrose, where Mr Kephart deposited state funds, must be repaid. This is right. Mr Kepbart should have protected himse If against the bank by bonds running to himself. It is for such precautionary wisdom that Colo rado pays its state treasurer a salary of $6,000 a year.