160078990995 16007899
hash
69367c0b3fed3b0dNone
Click image to open full size in new tab
Denver dispatch announces that Chairman Chaffee drained the banks of small bills for use at the Campbell, the republican polls. candidate for governor. is president of the bank at Leadville, and disbursed funds so liberally that depositors made a run. and $25,000 was seut thither by special train. That is one of the little games that the people rebuked November 7. They do not propose to have their elections carried by the use of what Mr. Arthur in Mr. Dorsey's case called soap.
Click image to open full size in new tab
DENVER, July 26.-The Bank of Leadville, of Leadville, Colorado, L. Campbell, President, Geo. R. Fisher, Cashier, assigned this morning to George W. Trimble. Other banks are thought to be not seriously affected. This has long been anticipated.
Click image to open full size in new tab
DENVER, July 26.-The Bank of Leadville, Leadville, Col., E. L. Campbeil, presideni, assigned this morning. Other Colorado banks are thought to be seriously affected.
Click image to open full size in new tab
Bank Failure, Leadville, 26.-The Bank of Leadville collapsed. C. L. Campbell, president, George R. Fisher. cashier, assigned this morning to George W. Trimble. Other Colorado banks, it is thought, are not seriously affected. The failure was long anticipated.
Click image to open full size in new tab
TELEGRAPHIC BREVITIES, By the will of Henry L. Kendall the Providence public library gets $475,000. It is expected that 1,500 survivors of the battle of Wilson's Creek will attend the reunion, which begins August 8. Rev. James Kilbourn, who for many years has been engaged in missionary work in Racine, fell dead from heart disease. Miss Walker and eight other young ladies of Huntsville, Ala., challenged a male nine to a game of base ball and beat them by 20 to 11. The men employed in the yard gang at New Castle, Del., who have been receiving $7 a week, struck for $8, and refused a compronise of $7.50. At Boston, yesterday, Daniel B. Phillips, a well-known evangelist, who has been troubled for some time with his head from sunstroke, hanged himself. John H. Pettingill, a substantial business man of Lewiston, Me., went to a circus with his grandson and suffered himself to be defrauded out of $1,000 by monte men. James Rand was at work in a field near Rich Hill, Mo, with three horses, when a stroke of lightning killed man and animals. the latter being horribly lacerated. The Bank of Leadville, at Leadville, Col., E. L. Campbell, president, assigned yesterday morning. Other Colorado banks are thought not to be seriously affected. Collector Gould, and other stalwart Republicans of Buffalo, are negotiating for a penny evening paper, to acquire a press franchise and start a morning political journal. At Harrisburg, Pa., yesterday, W. H. Muenich, aged eighteen, in attempting to go between a saw and hot-bed in the rail mill, was caught by a rail and pierced by the hot metal. He died a few hours after. A decree annulling the marriage of Marianna Conway and Jules Levy, the cornetist, was entered in the Supreme Court of New York yesterday. The application was made by Mrs. Levy on the ground that Levy is the husband of another woman. In a collision some years ago between the Pennsylvania Railroad Company's ferry-boat and the New York Transportation Company's steamer. John H. Martin received injuries causing insanity. He obtained a verdiot against both companies for $20,000.
Click image to open full size in new tab
LATE NEWS. Cetewayo. the African King, has been killed. A subscription was taken up on the Chicago Board of Trade for the striking operators, and $800 realized. The thirty-fifth joint ballot for U. S. Senator from New Hampshire was taken without a result being reached. A man failed in trying to commit suicide at Mansfield, Mass., and next day a railroad train ran over him accidentally. At Sotmar, in Germany, during a thunder storm, a mother and her four children were killed by a single flash of lightning. The steamship Ludwig, of the White Cross Line, from Antwerp, is ten days overdue at Montreal. It is feared her shaft is broken. The Bank of Leadville, Leadville, Colorado, E. L. Campbell, President, has assigned. Other Colorado banks are not seriously affected.
Click image to open full size in new tab
BANK FAILURE. The Bank of Leadville Placed In the Hands of 18 Receiver. The bank of Leadville closed its doors on the 26th, and petitioned for a receiver. George W. Trimble was appointed recelver, and gave bonds in the sum of $50,000. An approximate statement of the condition of the bank shows $228, 450 assets, and $410,129 liabilities. There was R heavy run on the other Leadville banks, more particulary the First National bank, but they Imported large amounts of coin and currency from Denver, and wjil doubtless pull through.
Click image to open full size in new tab
The Bank of Leadville has assigned, but other Colorado banke are not thought to be seriously affected. New Hampshire Republicans are debating whether the protracted Senatorial struggle is injuring the party. James Smith, of Sparta, Tenn., beat his wife with a chair, when his stepson, David W. Dinges, stoned him, and one of the missiles struck him on the head and killed him. The jury in the case of ex-Treasurer Polk, of Tennessee, found him guilty of embezzlement. They fixed the penalty at imprisonment in the Penitentiary for 20 years and imposed a fine to the full amount of the embezzlement.
Click image to open full size in new tab
TELEGRAMS IN BRIEF. CAIRO July 30.-There were 330 deaths from cholera here on Sunday, and 443 at 23 other places. HAVANA, Jily 28.-There were fortyeight deaths from yellow fever in Havana the last week. WASHINGTON, July 27.-Hon. Montgomery Blair died at his residence at Silver Springs this morning. SYRACUSE, July 20.-Ex-Congressman Wm. Lausing died suddenly of heart disease to-day. He was a member of the 37th, 42d and 43d Congress. ALEXANDRIA. July 30.-An analysis has been made of the water of the Nile, which shows it to be infected with putrid matter to above the cataracts. GALVESTON, July 23.-The News this morning publishes a clipping from Two Republics published at the City of Mexico, as follows: Cholera has made its appearance in San Donisco Del Mar, Oaxaca. NEW YORK, July 30.--Georga Shepard and wife were this morning found dead in bed in a room Both furnished shot in Twenty second street. were through the head-supposed to be a case of murder and suicide. ST LOUIS, July 28.-In Kansas many fields of corn will vield over a hundred bushels per acre. Wheat is also exceeding expectations. some fields threshing out 42 bushels. A great many yield over 30 bushels per acre. NASHVILLE. July 28. In the Polk case day the Judge overruled the motion for a new trial. and passed sentence on the prisoner. The case was appealed 10 the Supreme Court, and bail raised to $45,000, which was given. DENVER July 25.-The bank of Leadville, C. L Campbell president and George R. Fisher cashier, assigned this morning to Geo. W. Trimble. Other Colorado banks. it is thought, are not seriously affected. It has been long expected. COLUMBUS, O., July 28. - Judge Oakey of the Supreme Court to-day announced that hisdissenting opinion on the Scott liquort tax law, holding it to he a license and therefore an unconstitional law, was sustained by the other Judges of the bench. ALEXADRIA, July 27 -Great excitement prevails here over the prostration of the Khedive He was stricken with cholera, court that and the physicians say his condi tion is critical. He only returned yesterday from Cairo where he had made an inspection of the stricken city. DENVER, July 27.-The - next National Encampment of the Grand Army of the Republic will be held at Minneapolis. William Warner, of Iowa, is elected Senior ViceCommander in-Chief and Walter H Holmea, of California, Junior. The Vice Surgeon General and Chaplain were re-elected. CHICAGO, July 30.-General Grant, Gen eral Sheridan and a party of gentlemen left for Louisville by special train this morning, where they are to meet President Arthur at the opening of the Exposition in that city. They will return to Chicago on Wednesday and join in the reception to be tendered the President on Thursday.
Click image to open full size in new tab
GENERAL. ON he 28th, at Rutland, Vt., John B. Page commenced a suit against Clement & Sons for allege libel in a statement recently published by thm relating to the affairs of the Rutland Railred Company, of which he is president. Damage is laid at $200,000. Thiold New York state capitol which cost $110.00 to build. was sold at public sale on the 2th, and brought $1,000. It must be removei by October 1st, and the material will be used h the erection of a new normal school. A SIORT time ago a mad dog got into a herd of catle belonging to Hans Anderson, in Otoe County, Neb., and bit some of them. Since then nine have died of hydrophobia, and it is beleved many more are afflicted. FROM Wheeling, W. Va., came the news on the 27th that Mrs. Hunter, widow 'of Gen. Huter, minister to St. Petersburg under Presof ident Jackson, King, Pierce's and administration, daughter of Vice had applied President to the city authorities for assistance to reach Wahington, where she expected to find an asyhm in one of the numerous charities. Sheis 74 years old. HD. MONTGOMERY BLAIR, died at his residene at Silver Springs, Maryland, on the 26ti, aged 70 years. THE Ward Iron Company, of Niles, O., assigned on the 26th. Liabilities estimated at $1000,000. A. G. Bentley & Co., bankers and havy creditors, closed their doors owing to thesuspension, but expect to resume in a few days. LOBERT B. BEATH was elected commanderin-chief of the Grand Army of the Republic at a meeing of the vets in camp at Denver, Col., on the 26th. THE Bank of Leadville, Leadville, Col., closed its doors on the 26th. The failure cause a run on the other banks, but they weathered the storm and are all right. The assetsand liabilities of the busted bank are not repoted. OLORED man named Howard, who died at Booklyn. on the 25th. left a fortune of nearlyhalf a million of dollars. HENY frost was experienced in the White Mounains, N. H., on the 25th. THE Canton Lumber Mills Company, of Portland, Me., failed on the 25th. Liabilities $80,000. THEGrand Army of the Republic went into camp in the 24th at Denver, Col. A parade was hild in which over $10,000 veterans par ticipaed. THE Sioux Indians indulged in their annual "Sun Dance" at Rosebud Agency, Dakota, ou the 24h. ST. LOUIS, Mo., is suffering on account of a deficient water supply. THE late Henry L. Kendall, of Providence, R. I. bequeathed $60,000 for the establishmentof a public library in that city. THE surviving members of John Morgan's confederate command held a rermion at Lexington, Ky., on the 25th. S. LIGHTCAP, a wealthy mill owner of Hazel Green, Wis., died on the 24th. ELEVEN deaths from dysentery occurred at Watseka, III., during the week ending July 24th. RICEARD L. DUGDALE, a noted literary light, died of heart disease at New York on the 24th, at theage of 42 years. A YOUNG man named Shipp found a wallet containing $31,000 in large bills under a pillow at a St. Augustine, Fla., hotel on the 24th, and turnet it over to the landlord. Jerome W. Green, of Utica, N. Y., was the owner. WM B. ASTOR has caught the yacht fever and on the 21st contracted for a steel steam yacht, 235 feet in length, to have a speed of fourteen knots an hour, and cost $350,000. THE Arrapahoes and Cheyennes located in the Indian Territory are going into the cattle business. They have now some 800 cows and heifers and twenty-five blooded bulls, and it is calculated that in ten years their stock will be worth $3,000,000. The government is expected to assist them in the meantime.
Click image to open full size in new tab
The Bank of Leadville, Colorado, E. L. Campbell. proprietor, and George R. Fisher, cashier, assigned, Thursday. to George W. Trimble. Other Colorado banks, it is thought, are not seriously affected, as the assignment has long been anticipated.
Click image to open full size in new tab
in the work of recovering and identifying the dead. A CATTLE and horse disease, unlike anything ever before known is spreading among the animals in the vicinity of Council Bluffs, Ia. The animals are attacked by inflammation of the bowels and die in a few hours. LOUISIANA is now paying her 3 per cent. baby bonds" on presentation at the State National Bank, New Orleans. THE Lancaster Watch Company, Lancaster, Pa., suspended operations temporarily on the 1st. DULLNESS of business caused the discharge of 125 men at the Pennsylvania Railroad Company's shors at Fort Wayne, Ind., on the 1st. JOSEPH PRATT, wholesale boots and shoes, Chicago, Ill., assigned on the 30th. Liabililies estimated at $100,000. MACOMBER & GREENWOOD, dealers in shoee, Boston, Mass., failed on the 30th. Liabilities $50,000. THE shoe factory of Chas. W. Copeland & Co., Boston, Mass., failed on the 28th. Liabilities $750,000. Stedman & Co, shoe dealers, New :York, and W. N. Taler & Co., shoe dealers, Boston, went down with the wreck. A FIVE-YEAR-OLD son of P. J. Vieaux, of Muskego Center, Wis.. 18 an accomplished violiniet and has already composed several pieces. PROF. HOGAN, a balloonist, started on a balloon excursion on the 30th, from Detroit, Mich., crossed Lake Erie and landed in the Maumee River near Waterville, O. ON the 28th, at Rutland, Vt., John B. Page commenced a suit against Clement & Sons for alleged libel in a statement recently published by them relating to the affairs of the Rutland Railroad Company. of which he is president. Damage is laid at $200,000. THE old New York state capitol which cost $110,000 to build, was sold at public sale on the 28th, and brought $1,000. It must be removed by October 1st, and the material will be used in the erection of a new normal school. A SHORT time ago a mad dog got into a herd of cattle belonging to Hans Anderson, in Otoe County, Neb., and bit some of them. Since then pine have died of hydrophobia, and it is believed many more are afflicted. FROM Wheeling, W. Va., came the news on the 27th that Mrs. Hunter, widow of Gen. Hunter, minister to St. Petersburg under President Jackson, and daughter of Vice President King, of Pierce's administration, had applied to the city authorities for assistance to reach Washington, where she expected to find an asylum in one of the numerous charities. She is 74 years old. HON. MONTGOMERY BLAIR, died at his residence at Silver Springs, Maryland, on the 26tb, aged 70 years. THE Ward Iron Company, of Niles, o., assigned on the 26th. Liabilities estimated at $1,000,000. A. G. Bentley & Co., bankers and heavy creditors, closed their doors owing to the suspension, but expect to resume in a few days. ROBERT B. BEATH was elected commanderin-chief of the Grand Army of the Republic at meeting of the vets in cainp at Denver, Col., on the 26th. THE Bank of Leadville, Leadville, Col,, closed its doors on the 26th. The failure caused a run on the other banks, but they wcathered the storm and are all right. The assets and liabilities of the busted bank are not repoted. DR. C.E. YOUNG, of La Porte, Ind., while out riding with his wife on the 23d, cut her throat and stabbed her in about forty different places. She can not survive. The doctor, who is a whisky wreck, is in jail.
Click image to open full size in new tab
THE LATEST NEWS. The Mexican reciprocity treaty was rejฤcted by the senate. A sharp earthquake shock was felt in New Hampshire on Friday. It is rumored on Wall street that Jay Gould has lately lost $20,000,000. The Bank of Leadville has assigned. The chief losers will be the stockholders. Kid Wade, captain ot the Niobrara gang of horsethieves, has been captured by the vigilantes, A Fargo man in Minneapolis was confidenced out of all the money he had by the old express package dodge. An explosion of gas in Boston wrecked a building. broke all the glass for a distance of two squares, and injured several persons. At Springfield, Mass., three masked men entered the county treasurer's office, bound and gagged him and robbed the office of $220 in cash and $150 in checks. Henry Kendall, of Louisville, Ky., and six members of his family were poisoned by "Rough on Rats," which was accidentally used in preparing their food. Two of them will die. At Perham, Minn., August Neutchler, a saloon keeper, was shot and instantly killed by a plasterer, named Steinr. Some say the shooting was in self defense, but still there are threats of lynching. The deceased leaves a wife and eight children. A Washington correspondent says: At the capitol a mass of matter-of northwestern interest and significance has already accumulated, and from a local standpoint of Minnesota, Montana and Dakota, the session promises to be an important one. The widow of the late Simon B. Paige, of Wisconsin, has sued the Cincinnati Commercial-Gazette for libel damages of $150,000. The paper published a long article purporting to be a history of her early life, which showed her in a bad light. Leroy Donovan, convicted of the murder of William Leighton at Rock Sdrings, W yoming, in May last, was hanged at Rawlins on the 18th. Donovan was twenty-three years old, and was also known as John Lee, and by some supposed to be a son of John D. Lee, the Mormon, of Mountain Meadow massaere notoriety. He killed Leighton for his money. Donovan is the first white man ever executed in Wyoming by process of law.
Click image to open full size in new tab
GENERAL GEN. GRANT on the 23d sent a letter to a New York paper, denying that he and Romero, Mexican commissioner. were interested in Mexican lands or other Mexican enterprises. BUSINESS at Topeka, Kas., is at a stand still on account of the prohibitory laws. VESSEL property to the value of $1,000,000 is frozen in the ice at St. Louis, Mo., and is in danger of damage from a sudden thaw. THE Bank of Leadville, Leadville, Col., suspended on the 22.J. Liabilities $300,000, mostly deposite. THE city conncil of Chicago on the 22d reduced its tax assessment on the exposition building from $1,000 to $500 per annum. The company refused to pay the $10,000 and threatened to tear down the building if payment was enforced P.H. SMITH, of Plymouth, a member of the Wisconsin senate, died on the 22d, aged 51 years. MRS. WM. ASTOR gave a ball at her home in New York on the 21st which in all its appointments eclipsed the great Vanderbilt ball. Nine hundred invited guests participated. JESSE DEAN, the Oshkosh boy, returned to Boston, Mass., on the 22d. He had made a trip to Nova Scotia in a steamer. A TESTIMONIAL subscription is to be presented to Lieut. Rhodes, of the revenue cutter Dexter, in recognition of his heroic efforts to save the lives of those wrecked on the City of Oolumbus. AT Bellaire, O., James Gaffer, a farmer, found $1,000 in gold secreted in an old building log which he was using as firewood. JESSE DEAN, the Oshkosh musical prodigy who mysteriously disappeared at Boston, Mass., a week ago. is supposed to have gone to sea. E. HARPER JEFFRIES, the comptroller of Philadelphia, Pa., died on the 21st. A NEW telegraph company was organized in New York on the 21st, under the name of 'The New York Telegraph Company." " WM. H. GUION, of the firm (of Williams & Guion, owners of the Guion line of steamers between New York and Liverpool, failed for $2,000,000. The partnership was dissolved before the collapse of Wm. H. WILLET BRENSON, a lawyer, New York, assigned on the 19th. Liabilities $650,000. IT is estimated that 20,000 men have been thrown out of work since Jauary 1st in the United States, by reason of dullness of trade. JOHN J. ENGEMAN, a carpenter in moderate circumstances, of Winona. Minn., has fallen heir to $1,000,000 by the death of a brother at Coney Island, N. Y. WESTERN glassware manufacturers on the 18th, agreed to advance the price 10 per cent. They will get the goods in eastern factories. HENRY IRVING, the English actor, has been dined by Chicago society until he was compelled to surrender and on the 18th he was confined to his bed. A SMALL package in the mail from Amsterdam was seized at New York on the 18th. It contained $20,000 worth of diamonds. BUSINESS failures in the United States for week ending the 18th, number 382. AN earthquake shock was felt in North and South Carolina on the 18tb. THE Suffolk County Bank, Patchoque, L. I., failed on the 18th. Liabilities $150,000. ROBERT HARRIS was on the 17th elected to the presidency of the Northern Pacific Railroad in place of Villard, resigned.
Click image to open full size in new tab
GENERAL BUSINESS failures on the 27th: B. Dubbs & Co., Augusta, Ga., liat ilities 836,000; J. B. Wadsworth, cheese factory, Morrisville, N. Y., liabilities $72,000; D. M. Hawking, wholesale tobacco and cigars, Cincinnati, O., liabilities $30,000; J. H. Betting, general store, Manor, Tex., liabilities $40,000. SMALL-POX is prevalent in the Indianapolis, Ind., jail. Thus far none have proved fatal. JOHN C. NEW, assistant secretary of the treasury, tendered his resignation to the Preeident on the 24th. WM. P. BARD, a lawyer of Reading, Pa., whose fortune a year ago was over $60,000, on the 24th made an assignment, all bis substance having been lost in speculation. AT Concord, N. H., on the 24th, George T. Comins, a prison contractor, failed with liabilities of $140,000. STEPHEN K. LANE, grain merchant, New York, assigner on the 24th. Liabilities $289,079. GEN GRANT on the 23d sent a letter to a New York paper, denying that he and Romero, Mexican commissioner, were interested in Mexican lands or other Mexican enterprises. BUSINESS at Topeka, Kas., is at a stand still OL account of the prohibitory laws. VESSEL property to the value of $1,000,000 is frozen in the ice at St. Louis, Mo., and is in danger of damage from a sudden thaw. THE Bank of Leadville, Leadville, Col., suspended on the 22d. Liabilities $300,000, mostly deposits. The city conneil of Chicago on the 22d reduced its tax assessment on the exposition building from $1,000 to $500 per annum. The company refused to pay the $10,000 and threatened to tear down the building if payment was enforced P. H. SMITH, of Plymouth, a member of the Wisconsin seuate, died on the 22d, aged 51 years. MRS. WM. ASTOR gave a ball at her hon e in New York on the 21st which in all its appointments eclipsed the great Vanderbilt ball. Nine hundred invited guests participated. JESSE DEAN, the Oshkosh boy, returned to Boston, Mass., on the 22d. He had made a trip to Nove Scotia in S steamer. A TESTIMONIAL subscription is to be presented to Lieut. Rhodes, of the revenue cutter Dexter, in recognition of his heroic efforts to save the lives of those wrecked on the City of Oolumbus. AT Bellaire, O., James Gaffer, a farmer, found $1,000 in gold secreted in an old building log which he was using as firewood. JESSE DEAN. the Oshkosh musical prodigy who mysteriously disappeared at Boston, Mass., a week ago. is supposed to have gone to sea. E. HARPER JEFFRIES, the comptroller of Philadelphia, Pa., died on the 21st. A NEW telegraph company was organized in New York on the 21st, under the name of "The New York Telegraph Company."
Click image to open full size in new tab
The Merchants' and Mechannics' Bank of Leadviile, Colorado, Unable to Stand the Pressure of a Determined Run, Closes Its Doors Only One Bank Left-Serious Failures Anticipated. LEADVILLE, COL., Jan. 30. Another financial trouble engrosses the city. At two o'clock this afternoon the Merchants' and Mechanics' Bank, heretofore considered an exceptionally strong institution, closed its doors, being unable to withstand a run made upon it. The run was started last evening just before the bank closed. The officials were wholly taken by surprise, but paid all demands until the close of banking hours. The Directors then held a meeting to decide upon what course to follow. It was pretty positive that the run would be continued in the morning, and the officials well knew that the bank could not stand it. They endeavored to effect a loan of $50,000 from the First National Bank in Denver. The money was placed in the express office in Denver, so it is said, but before the train left the officials changed their minds and had the gold returned to their the vaults. This morning when bank opened for business a heavy run was commenced, which continued until the last dollar was paid out over the counter. The doors were then closed. The depositors, who were then clamoring for their money were informed that as soon as the South Park train arrived from Denver the bank would open again and pay off all claims. As the expected aid from Denver is not forthcoming it is certain that the bank will never open. The bank was officered as follows: President, L. M. Smith: Vice-President, J. Smith; Cashier, S. Ayres. The bank has been in business four years. Its authorized capital stock was $50,000, which was subscribed and paid in when the bank opened its doors. According to the last annual statement, made a month ago, the average deposits vere$250,000. It was said to have a surplus fund of $7,500; undivided profits, $2,000; real estate to the value of $17,000, and paid average dividendsof eighIt is not thought teen per cent. annually. that over $100,000 were drawn out after the run began, and that the unpaid deposits now amount to $150,000. This amount the officials claim the assets of the bank will fully pay. The failure of the Merchants' and Me chanics' Bank will have more of a disastrous effect upon the business of Leadville than that produced by the collapse of the First National Bank eight days ago. With the Merchants' and Mechanics' Bank the largest business institutions carried their deposits. The failure of the First National was not wholly unannounced, and many of the business men having been forewarned withdrew, their deposits and placed them in the Merchants and Mechanics' before the collapse. They supposed they were making a good move, but it proves not to have benefited them much. The commercial agencies predict a wholesale number of business failures in the immediate future an account of the collapse of the Merchants' and Mechanics' Bank. It is not thought the depositors in the bank will lose much money. The loss will fall upon the stockholders, who compose some of the best known business men in the State. There is now only one bank left in Leadville, and its strength will be tested to the limit to-day, as a disastrous run is ex a new pected to be made upon it. It is bank, with great wealth at its back, and it is thought it will withstand the attacks made on it by scared creditors. A great deal of money was placed in its vaults this evening and $50,000 was started from Denver last evening. The history of the banking business in Leadville for the past few years has probably never before been equaled in any city in the country. Only two weeks ago the city had four banks, and all of them Two were considered in good standing. months previous the Bank of Leadville had failed, but this was considered to be only the result of bad management, not that the business of Leadville was in such a de pressed state that any or all of the banks were liable to go under on the slightest squeeze. Two weeks ago the City Bank of It Leadville made an assignment. was found that the affairs of this bank were perfectly straight and that the depositors were paid dollar for dollar. The assignment was made, it is alleged, owing to the fact that the bank was not paying. A weekagocame the announcement that the First National was in a shaky condition, andra run then made cansed that institution to go under. The loss of $20,000 to the depositors, the flight of President Dewault, the reported stealings, etc., are still fresh in the minds of the public. Now comes the collapse of the Merchants' and Mechanics' Bank. This institution, it was said at the time of the other failures, was on an exceptionally good financial basis, and that there need be no fears that it would go under, and it was amply able to meet any run or demands that might be made upon it, and so it was generally considered. The first intimation of a break was on Tuesday afternoon just before the bank's closing hour, when a small horde of creditors made their appearance at the bank and demanded their deposits.
Click image to open full size in new tab
DOWN WITH THE TIDE. The Merchants' and Mechanics' Bank of Leadvile, Colorado, Unable to Stand the Pressure of a Determined Run, Closes its Doors-Only One Bank Left-Serious Fail sern LEADVILLE, CoL., Jan. Another financial trouble engrosses the city. At two o'clock this afternoon the Merchants' and Mechanics' Bank, hereto fore considered an exceptionally strong institution, closed its doors, being unable to una The "4" uodn ะตัะฒั uns B Amth was started last evening. just before the bankยฎ closed. The officials were wholly taken by surprise, but paid all demands until the close of banking hours. The Direct tors then held a meeting to decide upon what course to follow. It was pretty positive that the run would be continued in the morning, and the officials well knew that the bank could not stand it. They endeav. ored to effect a loan of $50,000 from the First National Bank in Denver. The money was placed in the express office in Denver, so it is said, but before the train left the officials changed their minds and had the gold returned to then vaults. This morning when the bank opened for business a heavy run was commenced, which continued until the last dollar was paid out over the counter. The doors were then closed. The depositors, who were then clamoring for their money were informed that as soon as the South Park train arrived from Denver the bank would open again and pay off all claims. As the expected aid from Denver is forthcoming it is certain that the bank will never open. The bank was officered as follows: President, L. M. Smith: Vice-President, J. Smith; Cashier, S. Ayres. The bank has been in business four years. Its author SUM *000*09$ SBM stock capital pezi subscribed and paid in when the bank opened its doors. According to the last annual statement, made a month ago, the pies SBM II susodes 088.19AB paptaipun :009'1$ jo punj snld.ins B based of TO enjea equ 01 estate real :000'3$ -4219 pied puu '000'2IS teen per cent. annually. It IS not thought that over $100,000 were drawn out after the run began, and that the unpaid deposits amount to $150,000. This amount the now officials claim the assets of the bank will fully The pay. failure of the Merchants' and Me-) susip B JO ะพะปะพั bave IIIM Bank chanics, trous effect upon the business Oi Leadville than that produced by the collapse of the First National Bank eight days ago. With Merchants' and Mechanics' Bank the the largest business institutions carried their deposits. The failure of the First National JO Auvu pus Mohly you SUM the business men having been forewarned withdrew, their deposits and placed in the Merchants and Methem chanics' before the collapse. They supposed they were making a good move, but it proves not to have benefited them much. The commercial agencies predict a wholesale number of business failares in the immediate future an account of the collapse of the Merchants' and Mechanics' Bank. It is not thought the depositors in the bank will lose much money. The OUM the uodn 11th IIIM I compose some of the best known business State. the u! new There is now only one bank left in Leadville, and its strength will be tested to the -xa st una disastrons B se 'Asp-01 time ะผำะธ B SI 4I "II uodn ะพัะธั eq of period bank, with great wealth at its back, and it is thought it will withstand the attacks made on it by scared creditors. A great deal of money was placed in its vaults this evening and $50,000 was started from Denver last evening. The history of the banking business in Leadville for the past few years has probably never before been equaled in any city in the country. Only two weeks ago the city had four banks, and all of them Two were considered in good standing. months previous the Bank of Leadville had failed, but this was considered to be only the result of bad management, not that the .ep B dons III SUM Teadame JO business pressed state that any or all of the banks were liable to go under on the slightest squeeze. Two weeks ago the City Bank It of ะธะฒ was found that the affairs of this bank were perfectly straight and that the depositors were paid dollar for dollar. 18 S! # 'ััะฒั SEM The leged, owing to the fact that the bank was -sounouus the came 0.58 reem V Payment you ment that the First National was in a shaky condition, and a run then made caused that 000'00$ Jo I The upun. 02 01 ] to the depositors, the flight of President Dewault, the reported stealings, etc., are still fresh in the minds of the public. Now comes the collapse of the Merchants' and Mechanics' Bank. This institution, it was said at the time of the other failures, was on an exceptionally good financial basis. and that there need be no fears that it would go under, and it was amply able to meet any run or demands that might be con- Senerally SUM 7! os puv "If uodn ััะธั sidered. The first intimation of a break was on Tuesday afternoon just before the bank's closing hour, when a small horde of creditors made their appearance at the bank and demanded their deposits.