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Run Closes Bank In Denver, Colo. (By United Press Leased Wire) DENVER. Colo., Jan. Italian-American bank of Denver failed to open for business today Officers of the institution asked the state bank commissioner to take over the bank's affairs, it was reported. A three-day run caused by rumors regarding the bank's stability was given as the cause of the closing. Sick? Be wise! "Polarize." For free advice, call 610 Bancroft Bld.
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BIG DENVER BANK FORCED TO CLOSE Personal Loans by President to Fuel Company Involved. DENVER, Colo., January 29.-The Italian American Bank here closed today. Its total liabilities amount to $707,792.11, it was announced by the State bank examiner who took charge. The closing of the bank followed a run that started about three weeks ago, according to bank officials. Prospero Frazzini is president of the bank and S. Nigro cashier. Involved financial transactions and loans to the International Fuel Co., of which Frazzini is reported to have been a former director, were assigned as the principal causes of the failure. Personal loans by Frazzini to the firm, said to have aggregated $150,000. and loans of the bank, amounting to $87,000, are so "mixed up," officials declare, that an exact accounting of these transactions could not be given this morning. The fuel company now is in the hands of a receiver. An exhaustive investigation of the accounts and loans of the bank and its resources was started by State bank examiners, while hundreds of depositors, coming for the most part from Denver's Italian colony, milled around outside or stood with their noses pressed to the windows anxiously watching those inside. Cashier Nigro was escorted to the bank from his home by a police guard, at his request, a short time before notice of closing was posted.
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Rumors Cause Bank in Denver to Close DENVER, Jan. 29.-The ItalianAmerican bank of Denver failed to open for business today. It was said that officers of the institution had asked that the state bank commissioner take over the bank's affairs. A three-day run, caused by rumors regarding the bank's stability, was given as the cause of the closing. The bank had a capital of $100,000 and a surplus of $40,000.
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RUN ON DENVER BANK RESULTS IN CLOSING Leased Wire to Bulletin) Jan. ItalianAmerican bank Denver failed to open business today. was said that officers of the institution had asked that the state bank missioner take over the bank's fairs. three day run. caused by regarding the bank's stability given the cause of the as The bank had capital and surplus of
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DENVER BANK CLOSES FOLLOWING HEAVY RUN DENVER, Jan. 29.-The ItalianAmerican bank here closed today. Its total liabilities amount to $707,792.17. It was announced by the state bank ex. aminer who took charge The closing of the bank followed a run that started about three weeks ago, according to bank officials. The banking house is at Fifteenth and Larimer streets. Prospero Fraz zini is president. S. Nigro is cashier Involved financial transactions and loans to the International Fuel company, of which Frazzini is reported to have been a former director. were as signed as the principal causes of the failure. Personal loans by Frazzini to the firm, said to have aggregated $150, 000. and loans of the bank, amounting to $87,000. are so "mixed up" officials declared that an exact accounting of these transactions could not be given this morning The fuel company is in the hands of receiver A probe Into the accounts and loans of the bank and its resources was started by state bank examiners while hundreds of depositors coming for the most part from Denver's Italian colony milled around outside or stood with their noses pressed to the windows watching those inside anxiously Cashier Nigero was escorted to the bank from his home by a police guard at his request a short time before no eice of closing notice was posted.
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RUN ON A DENVER BANK IS CAUSE OF CLOSING DOORS Denver.-Police throughout the country were asked to keep watch for Prospero Frazzinni, president of the Itallan-American bank, which closed its doors here when is was discovered that It had insufficient cash or negotiable securities to meet half of its liabilities of $707,792.17 and started a run. Search for Frazzinni W a S ordered when It was learned that he had been missing from his home. Grant McFerson, of the state bank examiner's office, was directing an examination of the bank's records, while the district attorney's office also detailed investigators to probe the cause of the failure.
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RUN ON A DENVER BANK IS CAUSE OF CLOSING DOORS Denver-Police throughout the country were asked to keep watch for Prospero Frazzinni, president of the ItalIan-American bank, which closed its doors here when is was discovered that It had insufficient cash or negotiable securities to meet half of Its liabilities of $707,792.17 and started a run. Search for Frazzinni ordered when it was learned that he had been missing from his home. Grant McFerson, of the state bank examiner's office, was directing an ex. amination of the bank's records, while the district attorney's office also detailed investigators to probe the cause of the failure.
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RUN ON A DENVER BANK IS CAUSE OF CLOSING DOORS throughout the country asked to keep watch for ProsFrazzinni, president of the Itallan-American bank, which closed its doors here when is was discovered that had insufficient negotiable securities to meet half of Its liabilities and started run. Search for Frazzinni ordered when it was learned that he had been missing from his home. Grant McFerson, of the state bank examiner's office, was directing an ex amination of the bank's records, while the district attorney's office also detailed investigators to probe the cause of the failure.
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RUN ON A DENVER BANK IS CAUSE OF CLOSING DOORS Denver. throughout the eountry were asked to keep watch for Prospero Frazzinni, president of the Italian-American bank, which closed its doors here when is was discovered that It had insufficient cash or negotiable securities to meet half of its liabilities of $707,792.17 and started a run. Search for Frazzinni W ordered when It was learned that he had been missing from his home. Grant McFerson. of the state bank examiner's office. was directing an ex. amination of the bank's records, while the district attorney's office also defailed Investigators to probe the cause of the failure.
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RUN ON A DENVER BANK IS CAUSE OF CLOSING DOORS Denver.-Police throughout the country were asked to keep watch for Prospero Frazzinni, president of the Italian-American bank, which closed its doors here when is was discovered that It had insufficient cash or negotiable securities to meet half of its liabilities of $707,792.17 and started a run. Search for Frazzioni W ordered when it was learned that he had been missing from his home. Grant McFerson. of the state bank examiner's office. was directing an examination of the bank's records, while the district attorney's office also detailed investigators to probe the cause of the failure.
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DENVER BANK IS CAUSE OF CLOSING DOORS the country to keep watch for Frazzinni, president the Italian-American bank, which closed its doors here when was discovered that had insufficient cash or negotiable meet half of liabilities and started run. Search Frazzinni ordered when was learned that he had been missing from his home. Grant of the state bank examiner's amination the bank's records, while the district attorney's office also detailed investigators to probe the cause the failure.
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RUN ON A DENVER BANK IS CAUSE OF CLOSING DOORS throughout the try asked to keep watch for ProsFrazzinni, president of the Italian-American bank, which closed its doors here when discovered that had insufficient cash negotiable securities meet half of its liabilities and started run. Search for Frazzinni ordered when learned that he had been missing from his home. Grant McFerson, of the state bank examiner's office, was directing an examination of the bank's records, while the district attorney's office also detailed investigators to probe the cause of the failure.
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RUN ON A DENVER BANK IS CAUSE OF CLOSING DOORS Denver.-Police throughout the country were asked to keep watch for Prospero Frazzinni, president of the Italian-American bank, which closed its doors here when is was discovered that it had insufficient cash or negotiable securities to meet half of its liabilities of $707,792.17 and started a run. Search for Frazzinni W ordered when It was learned that he had been missing from his home. Grant McFerson, of the state bank examiner's office, was directing an examination of the bank's records, while the district attorney's office also detailed investigators to probe the cause of the failure.