Miners & Merchants Bank

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: July 2, 1893
Location: Ouray, Colorado (38.023, -107.671)

Metadata

Model: gpt-5-mini
Short Digest: b5684bc2

Response Measures

Accommodated withdrawals

Description

Article (New-York Tribune, 1893-07-03) reports a slight run on the Miners & Mechanics' (interpreted as Miners & Merchants Bank in Ouray) that was promptly met and no further trouble was expected. No suspension, closure, or reopening is mentioned. Cause appears to be contagion from other local bank closures (First National Bank closed in Ouray), so classified as 'local_banks'.

Events (1)

1. July 2, 1893 Run

Cause: Local Banks
Cause Details: Contagion/concern following the closure of the First National Bank in Ouray and other regional bank failures.
Measures: Withdrawals were promptly met (bank paid demands).
Newspaper Excerpt: There was a slight run on the Miners and Mechanics' but it was promptly met and the indications are there will be no more trouble.
Source: newspapers

Newspaper Articles (1)

1. July 3, 1893 New-York Tribune New York, NY

Article from New-York Tribune, July 3, 1893

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Article Text

WESTERN BANKS CLOSE THEIR DOORS. Webb City, Mo., July 2.-The Exchange Bank of this city, Incorporate. capital $30,000. closed its doors yesterday and assigned to 11. D. Newman, of Joslin, for the benefit of creditors. The deposits are $60,000: liabilities not yet ascertained. Ouray, Col., July 2.-The First National Bank of this place closed its doors yesterday. Deposits amount to about $50,000. and loans and discounts about $120,000. No definite statement has been made. There was a slight run on the Miners and Mechanics' but 11 was promptly met and the indications are there will be no more trouble. Salt Lake City, Utah. July 2.-The National Bank of Commerce, at Provo, closed Its doors yesterday morning, owing to a run caused by the failure of the First National Bank. The bank's assets are $90,000, capital $50,000. other liabilities 825,000. Salida, Col., July 2.-The Chaffee County Bank, of which William E. Robertson is cashier, made an assignment last evening to 8. J. Foster of this city. Mr. Foster states that the liabilities are between $80.eco and $90,000. being near the latter figure. The deposits are $73,600, including $21,000 in certificates of deposits. He is unable to give the assets. There was a run on the first National Bank from the first moment it opened yesterday morning. At 11 :20 o'clock Director Holtenback addressed the crowd and told them there would be $100,000 on hand Monday morning, and all demands would be met promptly. They closed their doors at 11 :30 until Monday morning.