Western National Bank

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 2546
Charter Number: 2546
Start Date: June 6, 1921
Location: Pueblo, Colorado (38.254, -104.609)

Metadata

Model: gpt-5-mini
Short Digest: 6989a9a7

Response Measures

None

Description

After a damaging flood submerged the bank building and destroyed records, the Western National Bank requested a six-day moratorium and limited withdrawals. Articles describe banks remaining closed and a moratorium request (datelined June 6–7, 1921). There is no explicit report of a prior depositor run or of permanent failure; the moratorium indicates a temporary suspension, so I classify as suspension_reopening (temporary suspension with likely resumption).

Events (1)

1. June 6, 1921 Suspension

Cause: Local Shock
Cause Details: Flood in Pueblo submerged the bank building and destroyed records and accounts, prompting request for six-day moratorium.
Newspaper Excerpt: The Western National Bank has asked for a six day moratorium. All its records and accounts were destroyed when the building was submerged.
Source: newspapers

Newspaper Articles (2)

1. June 7, 1921 The Bennington Evening Banner Bennington, VT

Article from The Bennington Evening Banner, June 7, 1921

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Article Text

Financial Institutions Remain Closed-Many Records Lost MANY MERCHANTS RUINED One Fortunate Sells Business Only Few Hours Before City Is Devasted Pueblo, Col., June 7.-A run on the banks of Pueblo is not improbable. None of them as yet opened its doors, but the populace is waiting to get at its savings. The Western National bank has asked for a six day morator ium. All its records and accounts were destroyed when the building was submerged. An order is request ed, miminizing the amount of cash that each depositor can withdraw from his account. Such a provision will preserve the banks and stabilize, somewhat monetary conditions, it is said. E. C. Mewther of the Singer Sewing Machine company reported his stock and records a total loss. Fifty thousand dollars standing out on account is his solitary asset. And that depends entirely on the honesty of his dbtors. H. T. Frasier, proprietor of a Pueblo sadd'ery, at Second and Main streets, reports a loss of $100,000 to his stock and building. "I may be able to begin again with what cash I have in reserve, but I dare say no other merchant in my block is as fortunate." Morris Penter, a former Denver newspaper mtn and owner of a cigar store in Pueblo, suffered a loss estimated at $40,000. He says he will return to the field of journalism to regain his feet. L. L. Grey, owner of the Oriental Cigar store and the building which it occupied at 123 West Third street, until Friday afternoon, escaped financial disaster by a freak of fortune. He sold his business and his building three hours before the flood and received cash in the transaction.

2. June 7, 1921 The New York Herald New York, NY

Article from The New York Herald, June 7, 1921

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Article Text

PUEBLO BANK ASKS FOR SIX DAYS' MORATORIUM Some Business Men Lose Practically All They Have. special Despatch to THE NEW YORK HERALD. PUEBLO, Col., June 6.-A run on the banks of Pueblo is not improbable. None of them has yet opened its doors, but the populace is waiting to get at its savings. The Western National Bank has asked for a six day moratorium. All its records and accounts were destroyed when the building was submerged. An order is requested, miminizing the amount of cash that each depositor can withdraw from his account. Such a provision will preserve the banks and stabilize. somewhat, monetary conditions, It is said. E. C. Mewther of the Singer' Sewing Machine Company reported his stock and records a total loss. Fifty thousand dollars standing out on account is his solitary asset. And that depends entirely on the honesty of his debtors. R. T. Frasier. proprietor of a Pueblo saddlery, at Second and Main streets, reports a loss of $100,000 to his stock and building. "I may be able to begin again with what cash I have in reserve, but I dare say no other merchant in my block is as fortunate." Morris Penter, a former Denver newspaper man and owner of a cigar store in Pueblo, suffered a loss estimated at $40,000. He says he will return to the field of journalism to regain his feet. L. L. Grey, owner of the Oriental Cigar Store and the building which it occupied at 123 West Third street until Friday afternoon, escaped financial disaster by a freak of fortune. He sold his business and his building three hours before the flood and received cash in the transaction.