Merchants & Mechanics Bank (Leadville, CO)

Episode Information

Episode UID
263234791009
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
26323479 hash
Start Date
January 30, 1884
Location
Leadville, Colorado (39.251, -106.293)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e8dbe17c82818cc7

Response Measures

None

Description

Although early reports suggested a reorganization and reopening on Monday, February 4, 1884, later reports indicate a receiver was appointed, suggesting the bank failed to reopen as planned.

Events (3)
1. January 30, 1884 Run
Cause Details
The articles describe a heavy run but do not specify the initial trigger or cause of the run itself.
Newspaper Excerpt
After a heavy run the Merchants and Mechanics' bank of Leadville, Col., suspended yesterday afternoon.
Source
newspapers
2. January 30, 1884 Suspension
Cause Details
Suspended following a heavy run and immediate legal attachments of property.
Newspaper Excerpt
After a heavy run the Merchants and Mechanics' bank of Leadville, Col., suspended yesterday afternoon. Its property was immediately attached.
Source
newspapers
3. February 13, 1884 Receivership
Newspaper Excerpt
George D. Talbot, Clerk of the County Court, has been appointed receiver of the Merchants and Mechanics' Bank of Leadville.
Source
newspapers

Newspaper Articles (19)
1. January 31, 1884 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, January 31, 1884

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Article Text

GENERAL NEWS. John Brock, alias McGrath, of Hopkinton, pleaded guilty in the superior court, yesterday, to various burglaries at the Railroad stations in Southborough and Lancaster, and was sentenced to seven years in State prison. Four people were badly burned by fire in an apartment house of New York city, early yesterday morning. The Tanner Association of Cincinnatti, o., has agreed to increase the price of all harness leather one cent per pound, to take effect immediately. The window glass workers strike is at last ended. Three men were frightfully burned by an explosion of giant power in Pittsburg, Pa., yesterday which they were carelessly handling. The surgeon general of the marine hospital service is informed that there are 100 cases of email pox in the pest house at Louisville and the disease is prevalent at Shreveport, La. The death warrants of Jesse Carter and Goo. Jones of Allegheny county, Pa., were signed by the governor yesterday, and their executions will take place April 3d. After a beavy run the Merchants and Mechanics' bank of Leadville, Col., suspended yesterday afternoon. Its property was immediately attached.

2. January 31, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, January 31, 1884

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Article Text

Another Leadville Bank Suspends. DENVER, Jan. 30.-After a heavy run, the Merchants' and Mechanics' Bank, of Leadville, suspended this afternoon. It was immediately attached for $37,000. More attachments will follow. No estimate of the liabilities or what the bank will brobably pay is at present obtainable. This leaves but one bank in Leadville, the Carbondale.

3. January 31, 1884 New-York Tribune New York, NY
Article from New-York Tribune, January 31, 1884

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Article Text

BEGINNING TO SUM UP. At 3:15 p. m. Dr. Andrews left the stand, and the proofs were closed. Mr. Watson then began the summing up for the defence, and spoke until 5 o'clock, when the court adjourned. He will continue in the morning. His argument was in support of the theory of insanity, and that Rowell while in that condition became the tool of Patmer. who waited till his mental condition had broken down before developing the greater portion of his scheme to him or supplying him with weapons. If the case gets to the Jury to-morrow it will be at a late hour. ANOTHER LEADVILLE BANK CLOSES. DENVER, Jan. 30.-After a heavy run, the Merchants and Mechanics' Bank of Leadville suspended this afternoon. The property was immediately attached for $37,000. More attachments will follow. No estimate of the liabilities or of what the bank will probably pay is at present obtainable. This leaves but one bank in Leadville, the Carbondale.

4. January 31, 1884 Daily Los Angeles Herald Los Angeles, CA
Article from Daily Los Angeles Herald, January 31, 1884

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Article Text

DENVER, Jan. 30 -After a heavy run the Merchants and Mechanics' Bauk of Leadville suspended this afternoon. It was immediately attached for $37,000. More attachments will follow. No estimate of its liabilities or what it will probably pay is at present obtainable. This leaves but one bank in Leadville, the Carbondale.

5. January 31, 1884 Seattle Daily Post-Intelligencer Seattle, WA
Article from Seattle Daily Post-Intelligencer, January 31, 1884

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Article Text

strong, and transactions were larger than for a long time. In the last half hour a vigorous buying movement set in. Near the close room traders sold stocks, and a reaction of 1/4 to 1 per cont. took place, but final sales were at a fractional recovery. A feature of the market was the steady buying on reactions by brokers identified with prominent operators. Compared with last night closing prices were 1/8 to 1½ highor for Western Union, Northern Pacific preferred and Pacific Mail, and 1/4 to 11/4 per cent. lower for Central Pacific, Northern Pacific common. Union Pa cifie and Oregon Improvement, and 4@5 for Oregon Navigation. Some bears applied to bull syndicates for private settlement, but in all cases were referred to the Stock Exchange as the proper place to cover. Petitioning for the Reappointment of Gov. Murray. LOUISVILLE, Ky., Jan. 30.-A petition was circulated here today praying President Arthur to reappoint Eli H. Murray Governor of Utah. It expressed confidence in Gov. Murray's honesty, abilitv, etc., and says that if any irregularities occurred in his office they were through acts of others, and that attacks were instigated by Mormons. The petition is being signed by the most prominent citizens, irrespective of polities. Telegraph Transuctions-Gould's Plan. NEW YORK, Jan. 30.-Gen. Eckert informs the Commercial Advertiser that the mileage of the Western Union that is leased exceeds the entire Baltimore & Ohio system. F. E. frowbridge saysin the Mail and Express that the Western Union looks upon the purchase of the National Line by the Baltimore & Ohio Company with favor because the Western Union did not wish the line, and was glad to find it falling into the hands of friends. Trowbridge also says that Mr. Gould has taken a hold on Northern Pacific not only to sustain the market but also to control that enterprise and extend his influence with the Pacific roads. Another Leadville Bank Goes Up. DENVER, Col., Jan. 30.-After a heavy run the Merchants and Mechanics' Bank of Leadville suspended this afternoon and was immediately attached. Thirty-seven thousand more attachments will follow. No estimate of the liabilities or what it will probably pay is at present obtainable. This leaves but one bank in Leadville, the Carbondale. Collar and Elbow Wrestling. MINNEAPOLIS, Minn., Jan. 30-The collar and elbow wrestling match for $100 a side, between Butter of Minneapolis and Lane of San Francisco, was won by Butler, securing the first, second and foursh falls. the last one in a half a minute. End of the Strike of Windowglass Workers. PITTSBURG (Pa.), Jan. 30.-The long strike of windowglass workers is At an end, and. after seven months' idleness, the men will return to work as soon as the furnaces are heated. Great concessions are being made by both sides. The terms by which work is resumed largely favor the workmen, who will be paid last year's wages until April 1st, when the sliding scale will go into effeet, and wages will thereafter be governed by the card rate on glass. Twentyfive hundred men will be employed. Reinstated. NEW YORK, Jan. 30.-By order of Com missioner Fink, the National Dispatch Line which was excluded from the California traffic pool in October last on account of its cutting rates, was today reinstated. Fatal Accident. LEADVILLE, Jan. 30.-This evening William Manley, construction boes, and three men employed on the Denver & South Park Bailroad came down hill into the city on a flat-car. When near the depot they collided with a car of iron, and all jumpad. Manley was instantly killed and the others seriously injured. Our Stock of Wheat. CINCINNATI, Jan. 30.-The Price Current bas made a special examination of the wheat stock in the country, and will publish the result tomorrow, showing the total supply of wheat to be 75,000,000 bushels. To this is added 35,000,000 bushels of flour in the hands of dealers, making a total of 210,000,000 bushels for the remaing half year. It is estimated that the requirements for that time are for domestic food. etc., 106,00 ,000 bushels for exports, including flour, 57,000,000 bushels. This is upon the basis of 120,000,000 exports this year as against 148,000,000 last year.

6. January 31, 1884 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, January 31, 1884

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Article Text

Only One Bank Left in Leadville. (By telegraph to the Dispatch.] DENVER, COL., January 30.-After a heavy run the Merchants and Mechanics Bank of Leadville suspended this afternoon. The property was immediately attached for $37,000. More attachments will follow. No estimate of the liabilities or of what the bank will probably pay IS at present obtainable. This leaves but one bank in Leadville, the Carbondale.

7. January 31, 1884 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, January 31, 1884

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Article Text

A Bank Suspends. Denver, Col., January 30.-After a heavy run the Merchants & Mechanics bank of Leadville suspended this afternoon and was immediately attached for $37,000. More attachments will follow. No estimate of liabilities or what it will probably pay is at present obtainable. This leaves but one bank in Leadville, the Carbondale.

8. January 31, 1884 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 31, 1884

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Article Text

Big Failure. Denver, 30.-After 8 heavy run, the Merchants' & Mechanics' Bank of Leadville suspended this afternoon. It was immediately attached for $37 000, More attachments follow. No estimate of the liabilities or what they will probably pay at present obtainable. This leaves but one bank in Leadville, the Carbondale.

9. February 1, 1884 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, February 1, 1884

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Article Text

DENVER, COL., January 31.-Bradstreet's reports to-night that at a meeting this evening of the directors of the Merchants and Mechanics Bank, of Leadville, which suspended yesterday, it was developed that the bank can pay ninety.nine cents on the dollar without calling on the stockholders. They will reorganize and open Monday. The president's management has been honest and conservative.

10. February 1, 1884 The Democratic Leader Cheyenne, WY
Article from The Democratic Leader, February 1, 1884

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Article Text

Ninety-Nine Cents. Denver, Col., January 31.-Bradstreet's reports to-night that at a meeting this evening of the directors of the Merchants and Mechanics bank, of Leadville, which suspended yesterday, it was developed that they were able to pay ninety-nine cents without calling on the stockholders. The bank will re-organize Monday. The president and management are honest and conservative.

11. February 1, 1884 Daily Los Angeles Herald Los Angeles, CA
Article from Daily Los Angeles Herald, February 1, 1884

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Article Text

The M. and M. Bank to Re-Open. DENVER, Jan. 31-Bradstreet - reports that at the meeting this evening of the directors of the Merchants' and Meehan ies' Bank of Leadville, which suspended yesterday, it was developed that it will pay ninety-nine cents without calling on the stockholders. The bank will reorganize and open Monday. The President's management was honest and con servative.

12. February 1, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, February 1, 1884

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Article Text

An Unusual Showing, DENVER, Jan. 31.-Bradstreet reports, tonight, that at the meeting this evening of the directors of the Merchants' and Mechanics' Bank, of Leadville, which suspended yesterday, it was developed that it will pay ninety-nine cents without calling upon the stockholders The bank will reorganize and open on Monday. The president's management was honest and conservative.

13. February 1, 1884 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, February 1, 1884

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Nothing Bad. Denver, 31.-Bradstreet reports to-night that at a meeting this evening of the directors of the Merchants' and Mechanics' bank of Leadville which suspended yesterday, it was developed that it will pay ninetynine cents without calling on stockholders. It will reorganise and open on Monday. The president's management is honest and conservative.

14. February 2, 1884 The Democratic Leader Cheyenne, WY
Article from The Democratic Leader, February 2, 1884

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THE Merchants and Mechanics bank of Leadville, on which a foolish run was made, so that it was forced to suspend, will resume business on Monday. Being a sound institution, it will survive. In fact, no honestly managed bank need go under at all.

15. February 6, 1884 Mower County Transcript Austin, Lansing, MN
Article from Mower County Transcript, February 6, 1884

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GENERAL NORTH DAKOTA farmers are endeavoring to arrange terms with railroad companies 80 that they can get out of the grasp of the Minneapolis millers. THE Grand Trunk Railroad was found guilty of causing the death of J. W. Perkins in 1882, in a Lewiston, Me., court on the 30th, and was fined $1,000. THE long strike of the window-glass manufacturers at Pittsburg. Pa., ended on the 30th. An agreement was arrived at between committees of the workmen and manufacturers to pay last year's wages to April 1st, when a sliding a Ecale shall go. into effec:, to be fixed once month in accordance with the price of glase. THE Merchants' and Mechanics' Bank of Leadville, Col., after a heavy run, collapsed on the 30th. ON the 29th Mrs. Mary E. Paige, widow of Samuel B. Paige, the Oshkosh lumberman, who suicided at Davenport, Ia., brought suit against the New York World for libel and claiming $150,000 damages. The World print ed what they called the life of Mrs. Paige and she denies the truth of the article. PERINE & Co., jobbers of cloths, made an assignment on the 28th. Liabilities $100,000. JOHN PARET & Co., clothing dealers, New York, assigned on the 29th. Liabilities $329,000. IT is reported that tin ore has been discovered at King's Mountain, N. C. A state chemist is making a careful examination. THE Tanners' Association, in convention at Cincinnati, o, on the 29th, decided to advance the price of harness leather one cent a pound. BUSINESS failures on the 28th: J. W. Bitting & Co., Aurora, Texas, liabilities $40,000; James Alexander, millinery, New York, liabilities $24,000. EDMUND M. W. MACKEY, a congressman from South Carolina, died at Washington, D. C., on the 27th. A MAN who attempted to commit suicide is under treatment at Bellevue Hospital, New York, with a trepanned skull and a drainage tube through his brain. BUSINESS failures on the 27th: B. Dubbs & Co., Augusta, Ga., liabilities $36,000; J. B. Wadsworth, cheese factory. Morrisville, N. Y., liabilities $72,000; D. M. Hawkins, 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 President 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 his 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.

16. February 7, 1884 The Bolivar Bulletin Bolivar, TN
Article from The Bolivar Bulletin, February 7, 1884

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DOWN WITH THE TIDE. The Merchants' and Mechanics' Bank of Leadviile, Colorado, Unable to Stand the Pressure of a Determined Run, Closes Its Doors-Only One Bank Left-Serious Failures Anticipated.

17. February 8, 1884 The Black Range Chloride, NM
Article from The Black Range, February 8, 1884

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On the 31st ult., the Merchant's and Mechanic's bank of Leadville, succumbed to a heavy run and closed its doors. It was immediately attached for $37,000. This leaves but one bank, the Carbonate, in Leadville.

18. February 15, 1884 The New North-West Deer Lodge, MT
Article from The New North-West, February 15, 1884

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Another Colorado Bank Failure. DENVER, Jan. 30.-After a heavy run the Merchants' and Mechanics' Bank, of Leadville, suspended this afternoon, and was immediately attached for $37,000. More attachments will follow. No estimate of the liabilities or what it will pay, is at present obtainable. This leaves but one bank in Leadville, the Carbondale. DENVER, Jan. 31.-At a meeting to-night of the directors of the Merchants' and Mechanics' Bank, of Leadville, which suspended yesterday, it was developed that it will pay 99 cents on the dollar without calling on the stockholders, and that the President's management was honest and conservative. The bank will reorganize and open Monday.

19. February 20, 1884 Delta Chief Delta, CO
Article from Delta Chief, February 20, 1884

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STATE NEWS. Every saloon keeper in Boulder has been indicted by the Grand Jury. South Pueblo is soon to have new water works, the Arkansas river to be the source of supply. John Dickson, an old man, was found dead in a Blake street Denver lodging house, on the 12th. J. W. Prowers, a wealthy cattle man, formerly a Coloradoan, died on the 14th, at Kansas City. There are now thirty-six gentleman and ten ladies attending the State School of Mines Golden. Charles Garbarino, a well-known hotel man died at Golden on the 10th. He formerly lived at Peoria, III. On the 10th, John Vigil, a Mexican, was accidentlly shot and killed at Tom Wilson's camp on the Del Norte canal. Senator Hill has introduced a bill to change the limit of the appropriation for Denver's public building to $570,,000. During the month of January ten thousand five hundred and nineteen tons of coal were shipped from Starkville. The Trinidad Coal and Coking Company shipped one thousand two hundred fiftynine tons of coke during January. Police Officer Lewis Tuttle, of Denver, had a leg broken while playing and scuffling with another officer, on tho 13th. The trial of O. J. Haller, who shot his wife and Samuel Morris, at Denver last fall, has been postponedjuntil April 22nd George D. Talbot, Clerk of the County Court, has been appointed receiver of the Merchants and Mechanics' Bank of Leadville. for stock toward the of an at has The building subscriptions elevator Fort Collins reached $22,000, 2,000 more than was called for. John Cathers, a ranchman, at Idaho has run away a woman named Ida an an Springs, Waters, leaving with invalid wife and adopted child. Henry Clark, working at the Leopard Four some giant was up in mine, powder recently Mile Creek, and thawed badly out torn consequence. The Arapahoe county commissioners find that George C. Roberts, Ex-County Assessor, county defrauded of the office. out of $4,047.08 during his term On the 10th, twelve feet of snow was reported on the Summitville road, between Del Norte and Summitville, and the road will not be open again before spring. Louis Taylor, who is charged with the murder of W. C. Prigmore, at Eastonville, on New Year's night, has been held to await the action of the Grand Jury in April. The body of August Vesselman was found on the frozen He the formerly prairie, lived south in Denver of Pueblo, on 11th. and cuffered with delirium just before his body was found. On the morning of the 9th, Gustave Rotzler went from Leadville with a dog on a rabbit hunt. The dog returned alone and later Rotzler's dead body was found at the bottom of a deserted shaft, A fire occurred at Seaver's cigar factory, Pueblo, on the 14th, causing damage of on the on and same $3,000 cigars. Gondalfa's building, restaurant, $500. -2,500 in tobacco the building, was damaged The Wisconsin association of the Pueblos has taken steps to induce a woolen mill manufacturer of Wisconsin to locate in Pueblo. This association is also moving in several other matters of like importance. The Trinidad Farmers' Alliance has been a charter by Allithis to rights ance, granted entitling branch 'the all National the and privileges of the National organization. The Trinidad Alliance is No. 13 of the state of Colorado. Alamosa officers, acting under a dispatch from Buena Vista, undertook to arrest John Van Pelt. shot officer when Dorris, wounding The latter him resisted Van slightly, Pelt, and officer Haytt fired, wounding who died in ten minutes. Pioneer Hook and Ladder company, of Breckenridge, elected the following officers: Foreman, Scott McLarran; first assistant fore man, Joe Miller ;second assistant, John Dirks: president, J. D. Rankin; secretary, G. L. Betz, treasurer, J. H. Hartman. The proprietors of the Rocky Mountain at on an additional enerNews, exhibit Denver, of their dress enterprise the of 13th, type and for made gy by an entire new their ournal. This makes the News one of the handsomest newspapers west of the Mississippi. A Crested Butte man has invented an improvement on the snow shoes now in use.