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The Cheyenne National Bank Suspends Business. The Failure of John W. Collins in California Carries Down the Home Institution With it. Money of Depositors Here Will be Secured For Them. At about 11 o'clock yesterday morning the curtains of the Cheyenne National bank were drawn, the doors closed and this hastily written notice posted up: Temporary suspension on account of insufficient funds to meet checks, caused 1. by the run. Even at this hour it was not generally known that the remotest cause in the world existed for a temporary supension of the Cheyenne National bank. Its absolute solvency was considered beyond question and to only a few had even an intimation come that through no fault of its own or its managers a run might be precipitated upon it. The news actually seemed to flash over town and very soon it was in possession of everybody in the business part of the city. Generally it was received with amazement and soon the rumors began to fly thick and fastmany of them so utterly ridiculous on their face that it is hard to understand e how they ever gained currency. The e only possible explanation is that the sus it pension was so sudden and startling that people who alwayy pretend to know it all and seldom know anything, set their imagination to work to furnish facts. For a time there was considerable excitement, particularly when many of the smaller depositors learned what was up, but soon the true condition of affairs, or at least an inkling of it, got abroad with the result of setting at rest many of the senseless rumors. reassuring a great majority of the interested parties and preventing anything which in the remotest way could be considered a run upon the other banks. At 2 o'clock Thursday afternoon George L. Beard, cashier of the Cheyenne Na tional bank, received a telegram from John W. Collins, president of the California National bank at San Diego, Cal. briefly announcing the suspension of that institution. Mr. Collins was the organizer and for several years past had been president of the Cheyenne National bank, the only Wyo Is ming banking institution with which he is now connected. Mr. Beard's first step was to consult T. B. Hicks, president o the First National; Henry G. Hay, cashier of the Stock Grower's National, and T. g A. Kent, proprietor of Kent's bank. He a laid before them the information which e he had received and invited them to the Cheyenne bank for consultation. At the same time he called in John L. Murray and A. G. McGregor. two directors o the bank. Mr. Murray was a juror in the Jarvi case now on trial in the United States district court, but was given at hour's time. At the expiration of tha re period he was forced to return to cour and Mr. Tim Dyer was left in the bank 1e as his representative. An examination of the books of the bank bythe committee of bankers made d this showing: or Loans $395,000 Cash on hand 35,000 Cash in Eastern banks 45,000 a $475,000 Due to depositors and other banks $318,000 f. Balance in favor of the bank $157,000 a As to the securities held by the bank for its loans they were examined by the in bank directors, who threw out every piece of paper about which they had the least question (which includes a large amount n that while not immediately available C. will ultimately be turned into cash) and found that there was still in the bank's favor as absolutely good security over and above all liabilities $87,000. In other words they laid aside $70,000 worth of paper which the bank carried as security when for any reason they did not con sider it gilt edged. The bankers went home with the understanding that if there was any need of their assistance they would be notified the first thing in the morning. The an nouncement of the suspension of the California National was printed in both o the morning papers just asit was
