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BIG DENVER BANK FAILS Several Hundred Depositors to Whom the Bank Owes $2,000,000 Are Stood Off. Denver, Aug. 9.-A run started today on the Denver Savings bank, which owes depositors $2,000,000. At noon the doors were closed and thereafter depositors were allowed to draw 10 per cent. of their deposits. The run followed persistent rumors regarding the bank's stability. The trouble is reported to have been due to bad loans.
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RUN ON A SAVINGS BANK AT DENVLR Denver, Aug. 8.-The Denver Savings Bank sustained a heavy run today. Several hundred depositors were in line. It owes its depositors about $2,000,000.
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RUN ON DENVER BANK Denver Savings Bank, Which Owes Depositors Two Million Dollars Forced to Close Its Doors-Ten Per Cent of Deposits Allowed to Be Drawn. Denver, Aug. 8.-A run was started on the Denver Savings Bank, which owes depositors two million dollars, today. At noon the doors were closed and thereafter depositors were allowed to draw ten per cent of their deposits. The run followed persistent rumors regarding the bank's stability. Trouble is reported due to bad loans.
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Resume Run on Bank. Denver, Aug. 9.-The run on the Denver Savings Bank, which began yesterday, was resumed today. The Central savings bank also experienced a run but paid its depend tors in full, on demand.
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Run Resumed Today. Denver, Colo., Aug. 9.-The run on the Denver Savings Bank was resumed today. There were about three hundred people in line when the bank opened. The bank continued paying ten per cent of the deposits.
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Denver Savings Bank opened its doors at 10 A. M. and the blg run started Monday afternoon was resumed. A slight run was started at the Western Bank yesterday afternoon: Leonard Imboden, the power behind the Denver Savings Bank, a short time ago held a heavy interest in the Western but is said to have sold out. The statement is now made that both of the banks have close Interests in common. There is much talk of asking Governor McDonald to at once summon the Legislature to pass adequate laws for the protection of depositors and cred itors of savings and loan associations, It was only a few months ago that the Fidelity Assurance Society; of Detiver, failed for almost a million dollars, nine-tenths of the losers being from the working classes.
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SAVINGS BANK SUSPENDS. Denver Institution Closes Doors, Owing Depositors About $2,000,000. Denver, Aug. 9.-The Denver Savings Bank suspended operations yesterday. Several hundred depositors were gathered about the entrance waiting to draw their money when the doors were closed. The bank owes depositors about $2,000,000.
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DENVER, Aug. 9,-A8 early as 6 o'clock this morning savings and commercial depositors in the Denver Savings bank began forming into line, and by 8 o'clock fully 500 were waiting for the opening of the doors. The run started yesterday.
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Western bank yesterday. Run Continues, Denver, Aug. 9.-The run on the Denver savings bank was resumed today. There were about three hundred people in line when the bank opened . The bank continued paying 10 per cent of the deposits.
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Bank in Denver Closes Doors. Following the run on the Denver Savings Bank, Denver, Colo., the Western Bank, a State institution, closed its doors. Leonard B. Imboden, the "Texas plunger," is said to be responsible for the failure.
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The Denver Savings Babk has gone into the hands of a receiver. It begins to look as though the depositors fears that led them to make a run on the bank were well grounded after all. The diatrict attorney is investigating the bank failure.
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Bank Officials]Arrested. DENVER, Aug. 23.-Warrants were issued by District Attorney George Stidger today, on complaint of depositors of the Denver Savings bank, for the arrest of President J. A. Hill, Vice President F. P. Jones, and some minor officials of the bank, which was placed in the hands of a receiver last Saturday. The nature of the charge has not been made public. President Hill is said to be in Oklahoma and Vice President Jones in Colorado Springs at present. Carlos Wood, cashier, R. A. Brown, receiving teller, and Jos. David, pay. ing teller of the Savings bank, were arrested here on warrants charging larceny. The complaints specifically set forth that deposits were received by the bank officers when they knew that the bank was insolvent.
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Bank May Pay 75 Per Cent. Denver, Sept. 2.-Receiver Stevick of the suspended Denver Savings bank has reported to the district court that he believes the assets of the bank will pay 75 per cent of depositors' claims and asks authority to declare a dividend of 10 per cent at once. On the books of the bank appear entries of loans to banks and commercial houses in Indian Territory and Texas.
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DOORS CLOSED. Fort Worth Bank of Contrierce Transacts No Business. Fort Worth, Sept. 6.-Bank of Commerce, as result of complications with Imboden banks over the country, did not open Wednesday. Teller Wall says immediate cause was suspension of Denver Savings bank.
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DOORS CLOSED. Fort Worth Bank of Commerce Trans. acts No Business. Fort Worth, Sept. 7.-Bank of Commerce, as result of complications with Imboden banks over the country, did not open Wednesday. Teller Wall says immediate cause was suspension 01 Denver Savings bank.
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It looks as if the depositors in the late Denver Savings bank will keep the affairs of the institution in the courts long enough for the various receivers they have had appointed to eat up all the funds.
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OKLAHOMA BANK BROKE. Washington, Nov. 1.-The Farmers' National bank of Kingfisher, Okla., has been closed by direction of the comptroller of the currency. The same men who owned the Farmers' National bank of Kingfisher and the Denver Savings bank also owned the Union Exchange bank of South McAlester, I. T., which suspended following the closing of the Colorado institution.
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# MANAGEMENT The president is Mr. G. L. Stevick of Denver, Colo., well known as a man who has made money in mining, and also as the receiver of the Denver Savings Bank. Brigadier General R. H. Pratt, U. S. A., retired, is vice-president. Mr. J. M. Ellis, formerly City Attorney of Denver, is secretary and treasurer. Mr. W. E. SoRelle of Carson City, Nevada, is a director. Mr. Matt Graham of Goldfield is looking after the Company's interests on the ground. Mr. Graham has just made a mine out of the North Star property, and every one expects equal results on Bull Dog.
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# MANAGEMENT The president is Mr. G. L. Stevick of Denver, Colo., well known as a man who has made money in mining, and also as the receiver of the Denver Savings Bank. Brigadier General R. H. Pratt, U. S. A., retired, is vice-president. Mr. J. M. Ellis, formerly City Attorney of Denver, is secretary and treasurer. Mr. W. E. SoRelle of Carson City, Nevada, is a director. Mr. Matt Graham of Goldfield is looking after the Company's interests on the ground. Mr. Graham has just made a mine out of the North Star property, and every one expects equal results on Bull Dog.
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According to the Post the receivership of the defunct Denver Savings bank proved a great snap. It must be a corrupt court that will stand for any such dealings.
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From all we can glean from the reports over the investigation of the Denver Savings bank muddle, it is that there was a conspiracy among very influential lawyers to wreck that bank by asking for a receiver, when in all probability the bank was solvent. Of course the bank was the bank of Imboden and Hill, and some people seem to be afraid to discuss the matter, but the testimony makes some very serious reading for several very prominent attorneys. The receivership of an insolvent bank and the other fees in connection with the settlement of the affairs of such a bank, are very profitable holdings and it looks very much indeed as if the Denver Savings bank, aside from the injury done the confiding depositors by Imboden and Hill, were ravished by a coterie of lawyers.
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We hardly think that there will be any attorney's fees paid in Denver soon again, especially to attorneys for recelvers to defunct banking institutions. The exposures that were made of the great sums paid out to attorneys under the LeRoy Stevick recielvership of the Denver Savings Bank, was an eye opener that will have a lasting effect. Anyhow, a very superior value was placed upon the services of the attorneys, even those of Attorney O'Donnell.
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If the money that was paid out to the receiver over and above what he could have earned in any other line of activity and the immense atorney's fees, had been placed into the fund to pay the depositors, a goodly percentage of the losses to depositors in the Denver Savings Bank could have been paid.
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TELEGRAPH NEWS New York, July 10.-The government filed today in United States circult court in this city a petition against the American Tobacco company, Imperial Tobacco company the British Tobacco company, American Snuff company, American Cigar company, United Cigar Stores company, American Stogie company, MacAndrews and Forbes company, Conley Fail company and fifty-six other corporations and twenty-nine individuals connected with the above named companies. These corporations and individuals constitute what is generally known as the tobacCO trust, and the information directed against them sets forth the purpose of the government to dissolve this trust by breaking up the agreements under which the consolidated concerns ate working. Denver, Colo... July -Judge Riddle will on July 29 decide the matter of the proposed reopening of the receivership of the Denver Savings bank. The former receiver, Guy Leroy Stevick, demurred to the petition asking for reopening and upon this demurrer the arguments are based. The claim of the depositors is that Stevick received about $24,000 more in fees than he should have had. Golden, Colo., July 10.-A Wall of water that swept everything in its path came down Clear Creek valley last night and caused incalculable damage to the railroad, ranches and farms along the stream. A cloudburst in the mountains near Black Hawk was the beginning of the flood and as the torrent hurled down the valley it was augmented at Roscoe by another flood pouring out of the gulch at the head of the old placer works. Today the receding waters leave enormous wreck and ruin. Seventeen miles of track were washed away. Omaha, Neb., July 10.-Assistant General Passenger Agent Buckingham of the Burlington railroal today announced that within ten days the Burlington would put in operation a 2 cent fare schedule between all points on that system regardless of whether different states have passed a 2 cent fare bill. The Burlington traverses Wyoming, Montana, Colorado, Nebraska, Kansas, Missouri, Iowa, Illinois, Wisconsin, Minnesota and South Da kota. The action of the Burlington will undoubtedly cause other roads in the same territory to follow It. Washington, July 10.-President t Roosevelt has now the substance of the report of the interstate commerce 8 commission on the Hariman case and I Special Attorney Kellogg is at Oyster e Bay endeavoring to persuade the prese ident that the case against Harriman L should be prosecuted. Kellogg, with to some members of the interstate comn merce commission, believes successful II prosecution can be brought against C. Harriman but President Roosevelt is e convinced that the government cannot win its case. 3. Pittsburg, Pa., July 10.-Flames are t sweeping the residence district of Al1. legheny. Ten houses have already y been destroyed and the big wire plant e has also been destroyed. The flames it are shooting 260 feet in the air and d huge embers are being scattered in 1. every direction. A general alarm has 1. been sounded and Pittsburg is sending assistance.