Denver National Bank (Denver, CO)

View Charter #3269 on SPMC View balance sheet

Episode Information

Episode UID
326901123
Episode Type
Run Only
Bank Type
national
Bank ID
32690 national
Charter Number
3269
Start Date
July 19, 1893
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ed490e3c4ef0f423

Response Measures

Accommodated withdrawals, Public signal of financial health, Partial suspension, Full suspension, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

Events (2)
1. November 26, 1884 Chartered
Source
historical_nic
2. July 19, 1893 Run
Cause
Local Banks
Cause Details
Run was precipitated by failures/closures and heavy withdrawals at other Denver banks (suspensions of German National, State National, People's National and Union/Commercial issues) and the resulting panic among depositors.
Measures
Paid out demands during run; clearing house support and claims of ample funds to meet withdrawals.
Newspaper Excerpt
The run on the Denver National is over, with plenty of money still in sight.
Source
newspapers

Newspaper Articles (18)
1. July 19, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 19, 1893

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This bank closed by order of the! board of drectors. Those inside were forced into the street with curses on their lips, while those outside raved about the doors. attracting a crowd that extended far down the thoroughfare. People began to ask when would it all end, when they learned that the Mercantile Bank. recently incorporated with a capital stock of $100,000. and located in the Mining Exchange Building, had closed its doors, with W. F. Robinson as assignee. C. E. Gard, the present city auditor. is the president of the bank, and the directors of the concern were considered as being among Denver's most substantial business men. The suspension of payment here was brought about by the closing of the Union National Bank, through which the Mercantile had made clearances. It was stated that the bank's depositors will receive every dollar due them. This bank had been in operation only a few months and had comparatively few depositors. RUNS ON THE OTHER BANKS. At the Colorado National there was no run at all. The City National officials an. nounced after the run that they had paid out about $30,000 more than what had come in., At the same hour, nearly. the run was stopped at the First National. The officials said not more than $10,000 was paid out above receipts. At the State National all those standing in line were inside the doors at o'clook. and it was estimated that $100,000 had been paid out. The run was practically broken at 2 o'clock. At the German National there Was a long line reaching far out on the sidewalk, but not a business man was seen in the line. At 2:15 the crowd was still in line. but many were tiring and droppingout. About $70.000 had been paid ent, mostly in small amounts. The run was still on at 3 P. M., the regular closing hour. A run was re. ported on the Deaver National, but 16 proved a mistake. The crowd was composed of the Union Pacific employes and others from the Grant smelter with their checks. There was no run. The City National Bank met all demands and exPresident Barth said if the depositors wanted to keep the run up for the next two months, the bank would still be meeting demands on presentation. At the Denver Savings Bank, the only savings bank now open. there was a run in the morning which was over by noon. It refused to pay out, taking advantage of the time loan limit. The excitement and demand on the banks after money continued unabated until about 2 o'clock, when it almost entirely ubaided at all the banks except the Utab State National and the German National. where the line of depositors seemed to increase instead of diminish. This bank is said to have a special train on the way from Kansas City bearing $490,000

2. July 19, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, July 19, 1893

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A PANIC LIKE LOOKS Denver Banks and Mercantile Institutions Forcad to Suspend. A LACK OF READY MONEY The Banks All Have Ample Security But They Are Unable to Realize Immediately and People Want Cash. DENVER, July 18.-No scene was ever witnessed here before like that of this after the hour banks for business. morning opened shortly The when failure the of three banks ex. cited the and at the opensavings masses, crowded yesterday hour with of had were anxious Eleven ing the depositors. located streets clearing blocks of house banks within four each other and far into the streets crowds gathered until police to clear the way were called were surrounded, for the traffic. National bank. with a of $1,000,000. posted a they not open their capital At would the Union doors. notice This that Marted a panic. and following quickly the Commercial National posted a similar notice, then the National Bank of Commerce. A run immediately started on all the other banks, though to no great extent upon the People's national. The First National appears in unexcondition, having over per of on hand. with a ceptionable cent. deposits addition private 69 fund million and a half in to it impossible to The Colorado their draw doors. of upon, a making National good. close The and others are equally mob money was The banks are several depositors. withdrawing paying all all small de- deon time that these remain manding mands. except certificates, until the expiration of the time. President J. A. Thatcher of the clearing house says: " am confident that to-day the worst of this and the people will see meeting to their senses. At a house last could not help all the of them have gone to I believe. have depositors, but what cided will of to All some the protect all of come we clearing them. ample security night unfortunately banks the we wall. and dethis time cash and not security is at a majority of the people are elamoring for.' the State National bank quite a run the At progress. The officers appear in is in humor and say they are confident weather the storm. was quiet at the a It is understood that in gold was received the doors opened this everything National. they best million of can Up there the morning. Colorado to half doors noon just before crowd of people is about was ruQuite a Denver National, and it but it of the run was in progress there, were mored a found that the men was soon Pacific employes simply getting work. Union cashou for last month's the board checks bank closed by order of at every "This is the notice posted Comof directors." to the National Bank of admit entrance The officers inside refuse to bank is merce. The condition of this statement outsiders. as it did not print a all the yesterday. not known. as was done by almost other banks. Union National closed its doors explain- this The and a notice was posted $1,000,000 morning that the bank had paid few out weeks and to ing depositors realized on in the securities last as rapidly as possible. had a but million not fast six enough. hundred approximately thousand It has securities and owes will be dollars It is all half a on securities, able to in full. It positors The Union bank's consist of National open again. million. realize will loans. be paid thought when closed expects it resources de- its The Commercial became evident from the doors when crowd it outside that a run was was size of inaugurated. the and a notice order of to posted, be "Closed for liquidation It has by a capital on the board of a of quarter directors. of a million. and only stock $2,000 cash the American hand. National numerous. bank small made depositors. At who has not a million dollars who handle run. and The deals bank largely with men capital The excitement large sums. money and continued demand unabated upon the at banks about after 'clock, when the it Utah subsided State until the banks except German National. where the depositors all National and the seemed to increase instead of diminshing. of the failure Just before the close. bank. the with a capital are of Mercantile Savings announced. Its assets $100,000. was to pay all liabilities. of in the time. First sufficient H. Moffett, president that the deposits at National D. bank. stated the day had greatly e drain his bank the during withdrawals. depositors Constant brought ceeded banks by scared is stated by bankers been about on the the crisis. less than It $8,000,000 in the last has three is drawn that not from of the this. banks at least $5,000,000 months. locked up in this city.

3. July 19, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 19, 1893

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The Denver Flurry. All manner of rumors and reports of private telegrams were in circulation on the streets today as to the status of financial affairs in Denver, which, as readers of last evening's and this morning's papers remember, culminated in considerable of a flurry yeaterday. Out of the conflicting and frequently absurd stories started, little of a reliable nature could be secured. This much, however, is authentic, coming direct from the scene of the trouble: "Reliable people say there will be no more suspensions." The run on the Denver National is over, with plenty of money still in sight. The same is true at the City and all other unfailed banks. Business men are beginning to breathe more freely. It is generally believed that the incendiary talk of the Colorado bi-metal. Hats at their recent meeting did much to precipitate the crisis which broke over them yesterday. Had they been more reasonable in their utterances they would have been able to com. mand help that would have carried them through any possible emergency swimmingly.

4. July 20, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 20, 1893

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DENVER BREATHES EASIER. The Bank Rune Ended-Three Institutions Closed Yesterday. DESVER, July 19.-The German National bank, the State National bank and the People's National bank suspended this morning. The run on the Denver National is over, with plenty of money still in sight. The same is true at the City and all other unfailed banks. Business men are beginning to breathe more freely. The run on the national banks had entirely subsided by noon, and at the closing hour there were not half a dozen people around any of these institutions. The weak banks have all been closed, and there can be little doubt of the soundness of the five banks that withstood the terrible storm of yesterday and today. J. A. Thatcher, president of the Denver National and also of the clearing house, this evening stated that he anticipated no more failures. The banks that had kept open through the clearing house were in good shape and showed that they were in excellent condition for the future. "I am confident that if the financial condition of the country brightens a little," he said, "the failed banks will all resume, and that every depositor will be paid dollar for dollar."

5. July 20, 1893 The Morning News Savannah, GA
Article from The Morning News, July 20, 1893

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DENVER'S CRAZY PANIC. Banks Worth Three Times What They Owe Forced to Close. Denver, July 19.-The panic was on in this city to-day with renewed vigor and as a result the old German National, with a reputation for stability of 20 years standing, and the equally reputable State National failed to open their doors for business this morning. Later the People's National failed. All night long depositors stood in the line in front of the German, and by 9 o'clock there was one long sea of faces stretching down the street. On the opposite corner, where the State Bank has so long done business, there was also quite a crowd of anxious depositors waiting for the opening of the doors. Here the people were relieved of their agony at a few minutes after 9 o'clock. when notice was posted to the offect that the bank would not open, owing to a lack of ready cash, and the crowd moved away. THE GEPMAN FAILS TO OPEN. At the German there was evidently a determination to go ahead with business up to almost the last moment, when a slip of paper was pasted on a window stating that the doors would remain closed temporarily. Then the scene became distressing. Men and women down the long line broke out in tears and wailing. By this time there was a run on every bank in the city, and soon came the announcement that the People's National bank had closed its doors. A notice on its doors read: "This bank is closed by order of the board of directors. The assets are $1,100,000, and the liabilities $310,000. THE OTHER BANKS CLSO SOLID. The assets and liabilities of the other two failed banks bear about the same proportion as the People's bank. Their failure is chargeable to a long continued drain by depositors and inability to raise ready cash. All expect to resume shortly. Frank Adams, bank examiner, to-day took charge of the Union National, Commercial National, National Bank of Commerco, State National and German National. This afternoon the run at the Denver National, was over, with an enormous amount of money still in sight. The same is true at the City and all the other banks and business men are beginning to breathe freer. There has been a considerable number of failures among business houses of all kinds within the last few days, caused by attachments taken out by banks who foresaw their suspension. Five national banks are still open. OTHER FAILURES. Among the failures that almost escaped notice was that of the Bank of North Denver yesterday afternoon. The business firms whose embarrassments became known range from liquor saloons to street railroads. There are in the list drug stores, lumber companies, gentlemen's furnishers, milliners, coal companies, dry goods houses, jewelers, ready-made clothing dealers, tailors and grocers. Two bank failues are reported at Aspen and one at Loveland. Commercial failures are also reported from many points in the state outside of Denver, due principally to the fact that the sufferers deposited in the Denver banks which have suspended. TWO CLOSE AT GREELEY. Greeley, Col., July 19.-The Union Bank closed its doors at p. m. to-day and a half hour later the Greeley National pulled down its blinds and turned the key in its door. The Union's statement says that owing to the suspension of certain Denver national banks which had on deposit several thousand dollars of its money, and the steady withdrawal of deposits, amounting to about $80,000 in the past ninety days, they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital at $300,000. As soon as the fact of the suspension of these banks became known a steady run was made on the First National, but it continued to honor all checks and drafts, and even after the regular closing hour cashed two checks presented.

6. July 20, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, July 20, 1893

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CURRENT CURRENCY COMMENT A Regular Monkey and Parrot Time in Denver. SENATOR TELLER'S LATEST TALK A Nephew of Leland Stanford Turns up in Idaho-Married to Suit Himself. Associated Press. Denver, July 19.-The panic in this city was resumed this morning with renewed vigor, and as a result the Old German National bank, with a reputation for stability of twenty years' standing, the equally reputable State National, and extremely strong Peoples' National, failed this morning. All night depositors stood in line in front of the German National, and by 9 o'clock there was a long sea of faces stretching down the street. At the opposite corner, where the State National has so long done business, was also a crowd of anxious depositors, Here people were relieved of doubts, when at 9 o'clock a notice was posted on the doors that the bank would not open, owing to the lack of ready cash At the German National, just before opening time, a notice was posted on the (window stating that the doors would be closed temporarily. This notice caused a distressing scene. Men and women down the long line, broke out in tears and wailing. A run on all the remaining banks in the city was renewed. Reliable people, however, say there will be no more suspensions. Bank Examiner Adams this morning took charge of the Union National, Commercial National, National Bank of Commerce, State National andGerman National banks. A number of minor commercial concerns went under today, The run on the Denver National is over, with plenty of money still in sight. The same is true of the City and all the other unfailed banks. Business men are beginning to breath more freely. Washington, July 19.-The comptroller of Currency has been advised that the Hutchinson National Bank of Hutchinson, Kan., has failed. Topeka, Kan, July 19.-The state bank commissioner has been informed of the failure of the State Bank of Parker, and Woodson's State Bank, of Yates Center. Both were small concerns. Washington, July 19.-The comptroller of currency is informed of the failure of the Bozeman National Bank, of Bozeman, Mont. Brooklyn, July 19.-The large carpet house of Hardenburg & Co. has assigned.

7. July 20, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 20, 1893

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IN THE BUSINESS WORLD. Senator Teller on a Repeal of the Sherman Law. CALIFORNIA SILVER MEN. A Meeting Held Which Is Addressed by Congressman Newlands. Free Expression of Opinion on the Subject of Silver Legislation-The General Sentiment That Western Congressmen Must Stand Together. DENVER, July 19.-The old German National bank, the State National and the People's National closed this morning, owing to a lack of ready cash. The run on other banks is continued, but no more failures are anticipated. President McNeill of the State National bank says his bank has paid out over $900,000 in the last thirty days, and declares that the assets are twice as large as liabilities. The cashier of the German National says inability to place securities and failure to call in loans caused the suspension of his bank. There has been a constant drain on the bank for sixty days and over $1,000,000 has been paid depositors. The bank expected $300,000 from the east this morning, but it failed to come. The bank's capital and surplus is $500,000. It expects to resume. Assets exceed greatly the liabilities. The People's National closed at 11 o'clock. The notice on the door said the stringency of the money market was too severe, and it was impossible to longer withstand the storm. The statement published on the 12th showed less than $60,000 cash, with deposits subject to check of $210,000. The capital of the bank is $600,000. Bank Examiner Adams this morning took charge of the Union National, Commercial National, National Bank of Commerce, State National, and German National. The run on the Denver National is over, with plenty of money still in sight. The same is true at the City and all other unfailed banks. Business men are beginning to breathe more freely. The run on national banks entirely subsided by noon and at the closing hour there was not half a dozen people around any of these institutions, and there can be but little doubt of the soundness of the banks that withstood the pressure yesterday and today. J. A. Thatcher, president of the Denver National, and also of the Clearing House, this evening stated that he anticipated no more failures. The banks that had kept open through the Clearing House were in good shape and showed that they were in excellent condition for the future. "Pm confident that if the financial condition of the country brightens a little,' he said, "the failed banks will all resume and that every depositor will be paid dollar for dollar."

8. July 21, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, July 21, 1893

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NEW YORK, July 20.-The nervous feeling in Wall street, which was s noticeable to-day, was said to be due largely to the uncertainty regarding of some corporations on bewhich an application was the half identity of Court made for yesterday in the U. S. Circuit the appointment of a receiver, without disclosing the name of the applicant. By direction of Judge Brown the papers in accordance with the request of counsel on both sides were kept private, so that the name of the embarrassed company should not be divulged. This action of Judge Brown was vigorously condemned in financial circles this morning. It resulted in the names of several prominent companies being suggested as the one concerned, and in a least one case a serious decline of in the price of the stock ons of those companies resulted therefrom. Prompt denials were, of course, made by the officers of the companies against whom suspicion of was thus directed, but in the absence precise information as to what company the application referred to, weil informed bankers, and others finally learned that none of the campanies mentioned was the one referred to in the application. Several bank presidents said that the action of Judge Brown was ill-advised, because it might be the means of doing a great injustice to innocent parties. "For instance," said one of them, "this bauk might in good faith to-day discount a note of this mysterious corporation, or accept some of its checks only to learn to-morrow, too late to protect ourselves, that the company was in the hands of a receiver." The sub-treasury was debtor at the clearing house this morning $451,000, of which about $400,000 was settled in gold. The sub-treasury up to midday had exchanged $200,000 in currency, mostly "tives," "tens" and "twenties." for large greenbacks and gold certificates and it was expected that's little more would be exchanged later in the day. It was supposed that the currency thus obtained from the sub-Treasury was for shipment to St. Louis and Kansas City from which points demands for cash were reported to-day by two or three of the larger banks. Regarding the shipments of cash to St, Louis, the president of one of the large banks which sent out the money said that be did not regard the demand from that center at this time as at all serious. The threatened closing of the mills in the East is regarded as a much more serious feature of the present situation than the closing of the Denver banks. The situation in Philadelphia was said by New York bankers to-day to be worse. Application had been received from there for cash, in order that this week's pay rolls might be supplied. barks which received the applications The forwarded the necessary currency. The clearing house committee met . this morning and issued $50,000 of loan I certificates to a small uptown bank. No certificates were retired, but it was regarded as probably that $150,000 would be retired before the close of business to-day.

9. July 21, 1893 The Sun New York, NY
Article from The Sun, July 21, 1893

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liabilities are believed to be covered by the assets. CHICAGO. July 20.-It was said in court today that the assets of the suicide banker. Herman Schaffner. would not pay over 12½ per cent. of the liabilities. Judge Tuley this morning appointed N. H. Culver receiver for the Commercial Lumber Company of Havenswood. The concern was incorporated in 1891 with a capital of $30,000. It is declared that the assets are in excess of the liabilities. SAN FRANCISCO. July 20.-Attachments have been filed against the Union Stock Yards Company. whose meat packing establishment is at Rodeo. These claims are said to be preliminary to larger suits by Eastern holders of the company's bonds. The plant has practically shut down. It cost $1,000,000 and Was started on May 15. Attorney-General Hart has decided that the People's Home Savings Bank. which closed a few weeks ago. is solvent, and recommends that if the bank can make sufficient collections within a reasonable time it should do so. SAN BERNARDINO. Cal., July 20.-The national band examiners who have been! looking into the affairs of the First National Bank of this city have made a report to Comptroller Eckels. recommending that the bank be allowed to open at once. They say they find the affairs of the bank in good condition. ASHLAND. Wis., July 20.-The Northern Manufacturing Company. manufacturers of hard wood. assigned yesterday. Assets. $60.000: liabilities unknown. The failure is due to the recent loss of the factory by fire. TACOMA. Wash.. July 20.-S. B. Dusinberre. cashier of the Bank of Puyallup. who was arrested forthe emberglement of $41,000 and released on bail, has been rearrested on a second charge of embezzlement. Ho was held in $15,000 bail. in default of which he went to jail. DENVER, July 20.-The First National banks at Cañon City and Grand Junction. this State. failed to open their doors this morning. The failures were caused by the suspension of the Denver banks. TOPEKA. Kan., July 20.-Notice of the failure of the Bank of Belleville. Republic county. has been received at the State Bank Commissioner's office. It was a private bank with a capital of $20,000.

10. July 22, 1893 Arizona Silver Belt Globe, Miami, AZ
Article from Arizona Silver Belt, July 22, 1893

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The work of closing Denver banks by excited depositors may be said to have been effectually completed. The night of the 18th, the city was agog, and but few retired to rest. Streets in the vicinity of banks were crowded with people many of whom stood in line in order to maintain a position which would favor them in reaching paying tellers' counters at the earliest possible moment, but the night's vigils did not avail them. Before the hour for opening notices were posted on doors of banks that on account of exhaustion of ready cash, consequent upon the previous day's run, the bank would not open and thus it stood, at latest dates. This is not the worst feature of the depressing influence that encompasses Colorado. Mines in every part of the state are shut down. Leadville is as pulseless as a graveyard, and some of her best paying mines are virtually abandoned by the withdrawal of the pumps and consequent ruin by reason of accumulation of water, which in a brief period fills every shaft, tunnel and drift.

11. July 22, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 22, 1893

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# BRADSTREET'S. # A Birds-Eye View of the General Situation. NEW YORK, July 21.-Bradstreet's weekly review of the state of trade will tomorrow say: A birds-eye view of general trade conditions throughout the country indicates the South Atlantic and gulf states have suffered no material change in condition, dullness or exceptionally quiet trade being reported from almost all points with slight exceptions. There is a disposition West also to curtail the output of manufactured products, and runs on Kansas City and Denver banks, now ended, created for a time a renewal of exceptional caution on the part of banks at many Western centers. A large proportion of the suspended Colorado banks and mercantile institutions will pay in full and resume business, inability to borrow or sell collaterals alone being the cause of Denver banks closing their doors. Bank clearings this week naturally show a decrease, the falling off being not less than 7.5 per cent as compared with a year ago, and a smaller decrease as compared with the preceding week: Our Australian and London cables showed no material change in stocks of wheat available abroad last week, so that the net decrease was practically that in the United States, about 3,200,000 bushels. Exports of wheat, both coasts United States and Canada, seven days ending July 20, aggregate 5,077,000 bushels, as compared with 2,716,000 bushels in the third week of July a year ago, with 2,330,000 bushels two years ago, with 1,544,000 three years ago, and 1,385,000 bushels four years ago. The financial position at New York has been to some extent unfavorably affected by the demands for money at St. Louis and Denver. Near-by manufacturing centers are also calling for currency to meet pay rolls, and it is believed that the result will be a loss in cash holdings to an undetermined amount. Few changes have been made in the outstanding New York clearing house loan certificates, which are now nearly $23,000,000. The money market is unaffected by the break in stock values, call loans being at 6 per cent or less, while time loans and commercial discounts are exceedingly restricted at high rates. Foreign exchange is somewhat firmer on diminished foreign stock purchases. About $1,000,000 gold came in from Europe and the West Indies, and some $200,000 is in transit from London. Silver is weaker on the threatened adverse action by some nations of the Latin union. The number of failures for a week is the largest ever reported for a like period.

12. July 23, 1893 Tombstone Epitaph Tombstone, AZ
Article from Tombstone Epitaph, July 23, 1893

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The great smelter at Chihuahua, and the Santa Eulalia mines, for which it was recently built, has shut down to await a rise in the price of silver. Four hundred and eighty-five thousand ounces of silver and forty thousand Mexican dollars will be shipped to Europe tomorrow. The total earnings of the Denver & Rio Grande for the "second week in July amount to $114,700, which is a decrease from the earnings for the same week last year of $54,400. The run at the Denver National is over, with an enormous amount of money still in sight. The same is true at the City and other National banks and business men are beginning to breathe freely. Four hundred and fifty-four thousand ounces of silver were offered for sale to the treasury department yesteaday at prices ranging from 71.50 to 73. 75,000 ounces were purchased at $071.50, the balance being declined and the same rate tendered. This makes the total purchases of silver for the month thus far 1,023,000 ounces.

13. July 26, 1893 Watertown Republican Watertown, WI
Article from Watertown Republican, July 26, 1893

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DENVER, Col., July 20.-There will b more bank failures in Denver. Th wore itself out yesterday with th lure of the People's, German an National banks. This mornin the First, Colorado, Denver, Cit American National opered thei there was hardly a dozen depos in all of them at the paying tellers ndows. In the First and Col nationals a long string € positors reaching nearly. to the stree lined up in front of the receiving windows and the money was go back into the bank vaults almost a as it was drawn during the pas days. The German, Stat People's nationals could par for $1 if they could realiz securities. There may be commercial failures in the city with the next few days as a result of th spension of banks, but it is believe in no instance, whether a banking commercial house, will the failure b mplete. A resumption of business will low shortly. It is stated to-day tha McNamara dry goods house, which Monday for $260,000, has settle the principal creditors and will re business Monday. While the situation in Denver i lieting down the effect of the loca failures is being felt in interio in the state. Word was receive to-day that the First Nationa at Canon City and the First Na at Grand Junction, this state to open their doors this morning particulars are at hand, but it i obable the failures were caused b spension of the Denver banks. The Flanders dry goods house, occu five store fronts and five storie on Sixteenth Street, was attache morning by H. N. Bradley, o oulder, Col., for $24,000. Ther no definite statement of th ndition of the firm available. Con judges place the assets at $200,00 liabilities at $125,000. The failur caused by the suspension of th cople's National Bank to which $25,00 due. speaking of the financial conditio Denver yesterday, D. H. Moffat esident of the First National Bank "The Denver national banks ar solutely all right and perfectly able j every dollar of their deposits an continue business. The onl who will have trouble from th on are those who have cause money to be locked up in the sus ended banks. The trouble SO far a banks are concerned is over. ] bound to come, and I am glad it as confidence will begin to re itself and business will grow be in Colorado."

14. July 27, 1893 River Falls Journal River Falls, WI
Article from River Falls Journal, July 27, 1893

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WILL AID THE BANKS. Comptroller Eckels Will Do All in His Power to Help Embarrassed But Reputable Banks to Resume-The Flurry in Denver About Over. WASHINGTON, July 21.-Comptroller Eckles has sent a dispatch to Bank Examiner Adams at Denver in which he said, in effect, that he would give every possible aid to the banks of that city, and would grant to them sufficient time to enable them to not only collect such amounts as are speedily collectable, but to get together such amounts of money as will enable them to open upon a small basis. The comptroller also said: "It seems to me that such citizens as have. by a foolish course of conduct in withdrawing deposits from banks which so long enjoyed their complete confidence, brought about this condition, ought, in view of the damage they have done their city, as quickly as possible to repair it by standing ready to deposit with them.' Referring to his action the comptroller said the failures in Denver, like a number of other national bank failures, were caused by no fault of the bank officials, but through a foolish and uncalled-for lack of confidence on the part of depositors. He continued: "It is my Intention where a bank has been properly conducted and whose assets under or dinary circumstances would have permitted it to remain solvent, to give the institution every opportunity to resume business. All the Denver banks that failed were well conducted, and every opportunity will be given them to reopen. The people who have caused the Denver disaster by foolish runs should do all they can to help the banks resume." "What is true regarding Denver applies with equal force to banks in other portions of the west where suspension has not resulted from reckless investments or bad managemento the part of officers. Wherever the citizens of a place have precipitated trouble by*instituting a run upon long-established and well-conducted institutions it is but just that they should take hold and assist these banks by redepositing with them, thus placing them in A position to resume their business on a sound financial basis. Wherever possible and advisable the most trusted employes of suspended banking institutions are to be retained by the bank examiners in the interests of the creditors and stockholders, so that every possible means of realizing on the absets of the institution may be accomplished. Instructions to the examiners. however, are to the effect that only in cases of reputable, -established banks are these conditions to be imposed, and no wild-cat institutions or methods will be sanctioned by this office." DENVER, Col., July 21.-There will be no more bank failures in Denver. The panie wore itself out Wednesday with the failure of the People's, German and State national banks. This morning when the First, the Colorado, Denver, City and American nationals opened their doors there was hardly a dozen depositors in all of them at the paying teller's window. In the First and the Colorado nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving teller's windows, and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German, State and People's nationals could pay $3 for $1 if they could realize on securities. Bank Examiner Adams has received a dispatch from Comptroller Eckels which has gone far toward restoring confidence. The officers of the several closed banks all notify the public that they will be able to pay every cent due to customers. But in some cases it will take time to realize on securities. It is learned that heavy withdrawals have been made from several of the banks during the last few months, which would indicate that some of the farseeing anticipated the trouble. It is noticeable that very few of the merchants or business men of the city withdrew their deposits, the runs being made principally by the working pec ple and poorer classes of customers. There may be a few commercial failures in the city within the next few days as a result of the suspension of banks, but it is believed that in no instance, whether a banking or commercial house, will the failure be complete. A resumption of business will surely follow shortly. It is stated that the McNamara dry goods house, which failed Monday for $260,000, have settled with their principal creditors and will resume business Monday. The Flanders dry goods house, occupying premises of five store fronts and five stories high on Sixteenth street, was attached by H. F. Bradley, of Boulder, Col., for $24,000. There is no definite statement of the condition of the firm yet available. Competent judges place the assets at $200,000 with liabilities at $125,000. The failure was caused by the suspension of the People's national bank, to which $25,000 was due. The Union bank of Greeley has closed, with liabilities of $100,000 and assets of $300,000. The Greeley national bank also suspended, but has made no statement. The failures are attributed to the Denver troubles. The Bank of Loveland, at Loveland, Col., has closed its doors, having been caught by the general depression. President Benson, of the bank, assures depositors they will be paid in full. Word has reached here that the First national banks at Canon City and Grand Junction, in this state, failed to open their doors. There are as yet no particulars, but probably the failures were caused by the suspension of Denver banks. The banking house of J. B. Wheeler City and Manitou

15. July 28, 1893 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, July 28, 1893

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BISMARCK WEEKLY TRIBUNE: FRIDAY, JULY 28 1893 xpectant of an early turn in the current of affairs. They attach no serious importance to the troubles among the far western small banks, as it is found that those institutions are generally in a sound condition and may be expected to resume payment so soon as the temporary panic among depositors subsides. The "run" on the Denver banks appears to be chiefly due to the exciting harangues of certain local demagogues and silver fanatics, and therefore must subside on the sober second thought; while there will remain the advantage of its weakening the pro-silver element in Congress during the coming debate on the Sherman act. The silver states are having a taste of the fruits of their policy and will henceforth better understand what that policy means. The stock market has been unsettled and widely fluctuating. The "bears" have summoned their whole force of attack, employing every resource of rumor and canard and assailing almost every important stock on the list in detail. With allies in London, they have also attacked our securities in the transatlantic markets, causing heavy declines there and London sales in this city. Their forces have been handled in concert and with great skill, and some heavy declines have resulted from "short" sales from which however there have been quick recoveries upon purchases to cover the sales. The unsettled condition of the London market and the bank troubles in the west have encouraged the "bear" side, and that they have rot made a deeper impression on the market is clear evidence of its intrinsic strength. Purchases for investment are certainly on the increase, and hoarded money is gradually being turned into the dividend paying stocks. again into similar channels. Intelligence, enterprise, and genius would assert itself in the future as in the past, and it would be but a question of time when practically the same conditions as now exist would be brought about. It is pleasant to contemplate a condition of universal peace, contentment and prosperity for all, and quite another thing to put theory into practice. A sliding scale of taxation is the most logical theory. Remove the burdens of taxation as much as possible from the poor and add them to the rich. The millionaires do not pay their proportion of the taxes. They have not borne their just proportion in the past, else the accumulation of these vast fortunes in so short a time would not have been possible. THE North Dakota Independent, the organ of the present administration, goes out of its way to hit ex-Governor Burke, by declaring that "the people of the northern part of the state have lost faith in criminals getting their just deserts since Governor Burke pardoned, etc." Governor Burke pardoned one man out of the penitentiary for every month he was governor. Governor Shortridge's record has been the same and the TRIBUNE doesn't for a moment question the justness of this action. The pardoning power is one of the most difficult problems a governor has to deal with and those who know the least about the matter should be the last to criticise. The Independent is right when it says that the pardoning power should be in the hands of a board and not in the hands of the executive. It would relieve the governor of great embarassment. THE silver producing states that are endeavoring to pit area against capital full confession of his awful crime, and that it was taken down by a stenographer, has been transcribed, read to him and signed by the murderer. It ought not to require much time to meet out justice to this tiend, who, driven to the deed by lust as he confesses, brutally killed six people. DURING the fireworks display at the World's Fair, Saturday night, a bomb lost its bearings and fell through a light in the roof of the Manufactures building and set fire to one of the window screens. Now the authorities announce that there will be no more displays of fireworks on the grounds. On this mode of reasoning, if the roof should be taken off by a cyclone some day an order would be issued to put no more roofs on buildings. THE appointment of ex-Gov. Geo. C. Perkins, of San Francisco, United States senator to succeed the late Senator Stanford, was a disappointment to the friends of Editor Mike DeYoung, who thought they knew the intentions of Governor Markham. The dispatches say that Perkirs is a strong man and his greatest unpopularity comes from his friendship towards the Southern Pacific railway corporation. OCTOBER 11th is the day decided upon for North Dakota day at the fair, the theory being that at this late date very many farmers will be enabled to be present. The month of October will be the most interesting time for farmers to go to Chicago. The great display of live stock will be made in that month and it is certain that it will be the greatest display of the kind ever seen in the world. ATTORNEY GENERAL STANDISH has issued another proclamation. This time A ments of THE greatly d is being belief that state is v trust to i twine. I to make July pier binding t A. FEW

16. September 4, 1893 The Providence News Providence, RI
Article from The Providence News, September 4, 1893

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gency will have disappeared. P1 ttsburg Dispatch. Business better, money easier, and the outlook good. Troy Times. There is a slight improvement in the industrial and financial situation here. heeling Register. Business conditions in this locality and near by portions of Ohio and Pennsylvania show a decided improvement over the situation during the past thirty days. St.Louis Republic. Money here is much easier and business is picking up in all jobbing departments. Many manufacturers are resuming, among which is ex-Congressman Neidringhaus' tin plate mills. Building trades are especially active while the prospects for the unemployed are unexcep ionally bright. Chicago Inter-Ocean. The retail trade of Chicago is greater than it has ever been this season of the year. Wholesa merchants report only fair buying by country merchants. The banks are strong in reserves and are loaning large amounts to move the crops. If New York would retire its clearing house certificates our bankers say over eight milligns of new loans would be made in ten days. Chicago Tribune. Business outlook very promising here. Collections improving, money growing easier day by day and merchants doing a splendid business for the present time of the year. Minneapolis Journal. Business prospects in the northwest have improved a good deal of late in a general way. Confidence is growing through the resumption of suspended banks. Money is somewhat easier than a month ago, and bankers feel much better. St. Louis Post-Dispatch. The business outlook here is decidedly encouraging. The banks are all sound, and merchants are letting money needed at fair rates. Real estate sales at full prices show evidence of the confidence of the people. Factories that closed down two months ago have resumed operations. Cincinnati Inquirer. Financial condition much improved. and everything indicates more prosperous times. Cleveland Leader. If congress would adjourn at once so the country could havesomething else to think of the panic would soon be forgotten. Portland Oregonian The past two weeks has notei a decided improvement in finances here at the Pacific Northwest, of which this city is the leading jobbing and banking centre. While there is still a scarcity of money, there is evidently a mutual understanding between buyer and seller not to crowd payments at the present time, and, as a result, no large business failures have been noted. Denver Republican. The business depression following the closing of Denver's banks in July is passing away, and all the national banks except one have reopened and report good lines of depositors. Confidence is being restored, money that was withdrawn is being deposited in the banks, and business in all lines is better. Cheyenne. Wyo., Leader, Encouraging features of business conditions are in mining. All coal mines are being worked to full capac ty. Great activity is being shown in prospecting for gold and developing gold mines, and numerous oil wells are being put down. Propositions made to connect oil pumps with railroad by pipe line makes prospects for placing oil on the market very bright. Indianapolis Sentinel. The business outlook for this city is all that can be expected. Sloux City Journal. There are some signs of improvement in business here. Detroit Free Press. The financial situation in this section is in provingdaily. Money is easier, general business is reviving and confiden e rapidly being restored. Notices of withdrawals, filed with the savings banks, are being cancelled and deposits largely increasing. The effect of the repeal of the purchase clause of the Sherman act by ongress has already made itself felt: merchants and manufacturers are encouraged and looking forward to a 200 I fall trade. Atlanta Constitution, Economic methods of the farmers, together with home supplies, which they have raised, have made cotton a surplus. Crop cotton is beginning to move, and there is money enough to handle it. Tradeis improving, and the outlook is very encouraging. Natchez Democrat. E. K. Thompson, acting president of

17. June 16, 1894 Macon Beacon Macon, MS
Article from Macon Beacon, June 16, 1894

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ip La Champagne. w for Europe, on the 9th, in gold. CHER. the eminent Geron political economy. c, on the 5th. aged nt. on the 5th. sent name of Charles Neilson, to be second assistant eral, vice J. Lowrie Bell, cutter States revenue the rocksat the entrance of Sitka. Alaska. on the 988, and will probably n of the Mortgage bank of Buenos Ayres is said abezzlement of several lars in currency by defrom Rio Grande ted th, that the insurgent with 4.000 troops, had halta, where he was ign. crease the pensions widows of the Mexican from 88 to $12 a month on by the house commiton the 6th. mbling of the constitudon in Honolulu, on May large crowd of leading The British minister us by his absence. on of Judge William Waltis ill at Hackensack. uch improved the having been successfully national bank of Dend its doors, on the 7th, failure to meet governThe bank was one last summer, but reAND and her two chil White House, on the 6th. nt's cottage at Buzzard's d will probably not ngton until the middle les of the Norwegian ture in Berlin are nthusiastic welcome Bjornsen and Ibsen Hegel, who are about he governor of West Virhed the sheriff of Wood the militia and use ure Frye's commonweal a Baltimore & Ohio cement in the cablegram that the United States m in Spain for rebate ties improperly collected confirmed at the state he Sth. TIVES of the Mine Ownn of Scotland unanimous reduce wages one shil This was regarded as a nge to the men who. ed tostrike. RR. one of the oldest and Vandalia engineers. ed. on the 6th. between nd Harmony, Ind., by by striking coal miners. f the most reliable emcompany. HAUGHEY, the aged he wrecked Indianapolis al bank. was, on the years in the penitentiary. tence Judge Baker broke d like a child. He said he most painful duty martial at Fort Snelling Maney guilty of conduct in officer. and sentenced ar's suspension with forpay during that time. on for executive clemened the sentence. Maney, t Pointer, killed his Capt. Hedberg. who was inter. insurrection at Cripple me to an end on the 8th. ent between the deputy d the militia who were he rioters, by which the o be allowed to make g the desperadoes gathHill. and they hastened to scape while the deputies ed by the military. Vs affairs are fast becombeyond hope of extricaguardians of his little Ida and Emin's first wife, haft, have not reached a and the widow is about Prussian court to set formal adoption of Ferida that it is void before the nard. given currency. orting to come from Vanthat a Raymond-Whit on train from Boston, carparty of pleasure tourists neighboring cities, had by cloud-burst on the ific railway in British Co d to be entirely without fact. DON & Co., of Minneapotracted, for $2,000,000. 10-mile canals and three voirs on Rio Verde and iz., and new river, with 600,000 feet of water, and rry 5,000 cubic feet of ond. The canal will reacres of choice orange work is to be completed se of the year 1895. Present

18. October 21, 1897 The Middleburgh Post Middleburg, PA
Article from The Middleburgh Post, October 21, 1897

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Result of Free Trade and Pro tective Laws. ONE BRINGS RUIN; THE OTHER PROSPERITY Sixty Days Under the Wilson and Sixty Under the Dingley Law. close of the first 60 days of law and vis operations of the new a are in every that 10 compatison B suggested 1919 have during the two months conditions with those of the correspond Cleve question date in the first year of the which ing administration, during elected land the free trade congress be time President Cleveland was just with its attack upon the protective day system ginning which the Dingley law 60 ago two periods re-established. from July 24 to in The the years of 1893 and 1897, 24. spectively, present a marked contrac business conditions, and it is as to to obtain from government ords sible some data bearing upon this and now especially interesting. ject SIXTY DAYS UNDER WILSON LAW The following data, gathered largely official reports, presents a picture 1893 from the 60 day period of the year ended of which the two months just with correspond. both as to the portion and the period of the presi the dential year administration and also proxim ity to tariff legislation. Week ending June 24, 1893.-Failur bank Bezeman, Mont., National doors of Denver banks closed their cit Four suspensions in other western Bank Two bank failures in Milwauke banks ies. runs on numerous other fails and Commercial bank, of Denver, Ver $250,000. Bank failures at capi capital, Tex., and Knoxville, Tenn.: non. $200,000. Failure of Tacoma, Wash. also tal, National bank; capital, $200,000; Mont. failures of banks at Great Falls, Sus Orlando, Fla.: capital, $200,000. and pension of work in manufactories ported from all sections. Week ending Aug. 1, 1893.-Nationa In at Manchester, N. H., and banks dianapolis, Ind., fall: capital, $500,000 of First National bank at bank Spo Failure Wash.: capital, $250,000. Ten kane, in one day (July 27): capital Da suspend $2,000,000. Bank failures in South Texas Montana, Illinois, Kansas, cor kota, Washington, New Hampshire, and business respondingly large number of Week suspensions. ending Aug. 8, 1893.-Collaps Chicago provision deal and Failure many of failures of commission houses. Fail National bank of El Paso, Tex. of of National bank of San Antonio Mun ure Failure of National bank of Tex. Ind. Fifty-third congress destruc meets in cie, special session to begin its tion of the McKinley law. Week ending Aug. 28, 1893.-Encoun