Commercial National Bank (Denver, CO)

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Episode Information

Episode UID
411301123
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
41130 national
Charter Number
4113
Start Date
July 18, 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
34c1677c6936d740

Response Measures

Full suspension, Books examined

Other: Later efforts to resume under Comptroller Eckels' special plan (depositors signing to permit resumption) and eventual placement in receivership are described.

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

Receivership Details

Depositor recovery rate
57.5%
Date receivership started
1893-10-24
Date receivership terminated
1900-12-27
OCC cause of failure
Losses
Share of assets assessed as good
23.2%
Share of assets assessed as doubtful
31.5%
Share of assets assessed as worthless
45.3%

Description

Suspended during the July 1893 Denver panic and later placed in receivership (Oct 27, 1893).

Events (5)
1. September 6, 1889 Chartered
Source
historical_nic
2. July 18, 1893 Run
Cause
Local Banks
Cause Details
Panic triggered by failures/closures/withdrawals at other Denver banks (Union National and others) produced heavy withdrawals at Commercial National.
Measures
Posted notice of closure; clearing house and examiner involvement; board ordered liquidation notice later
Newspaper Excerpt
the Commercial National posted a similar notice. Then the National Bank of Commerce. A run was immediately started on all the other banks
Source
newspapers
3. July 18, 1893 Suspension
Cause
Local Banks
Cause Details
Closed due to heavy demands from depositors during the widespread Denver banking panic and inability to obtain ready cash.
Newspaper Excerpt
The Commercial National bank has closed its doors. A notice says: This bank has gone into liquidation by order of the board of directors.
Source
newspapers
4. October 24, 1893 Receivership
Source
historical_nic
5. October 27, 1893 Receivership
Newspaper Excerpt
The Commercial National Bank has gone into the hands of a receiver, on application of the Chicago men who hold one-third of the stock.
Source
newspapers

Newspaper Articles (24)
1. July 18, 1893 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, July 18, 1893

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CLOSED DOORS. Serious Times Among The Denver Banks. DENVER, Col., July 18.-The Union National bank, of which W. R. Woodbury is president, failed to open its doors this morning. Capital $100,000. No statement can be had. A run is now being made on the City National, German National, the First National, the Colorado National and all the eleven clearing house banks. The Commercial National bank and the National Bank of Commerce have closed their doors. FORT SCOTT, Kans, July 18.-The First National bank of this city, the oldest financial institution in south eastern Kansas, has suspended payment. TOLEDO, O., July 18.-The Citizens' bank of Ada, the most prominent one in Hardin county, failed to open its doors this morning. Its owner, Peter F. Ahlfield, has controlled it over a quarter of a century and is one of the wealthiest men in that section.

2. July 18, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 18, 1893

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THE PANIC IN DENVER People Needlessly Excited - The Banks Paying the Depositors. DENVER, Col., July 18.-No scene was ever witnessed here before like that this morning shortly after the hour when the banks opened for busi. ness. The failure of three savings banks yesterday had excited the missses, and at the hour of opening, the streets were crowded with anxious depositore. Eleven clearing house banks, located within four blocks O each other, were surrounded and far into the streets the crowd gathered till the police was called on to clear the way for traffic. At 10 o'clock the Union National, with is capital of a million dollars. posted notice that they would not open the doors. This started a panic and following quickly the Commercial National posted a similar notice. Then the National Bank of Commerce. A run was immediately started on all the other banks, though to 110 great extent on the People's National. The First National appears to have been in an unexceptionable condition, having overeixty per cent of the deposits on hand with a private fund of is million and a half in addi.

3. July 19, 1893 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, July 19, 1893

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of the The failure the masses, vesterday located clearing of were each four other blocks within the the far and into streets surrounded, and until speofficers crowd gathered to the out were clear called police the for way Union truffic. 10o'clock a of with 000,000, capital National, not that they would notico posted the This their doors. startod the and Comno quickly National follow posted.ru of the Bank inercial then National and "Where asked: people on all started other Peoples run was banks, immediately thouNational to no groat The dest of of the extent National upon the having over appear to be with 60 per a private cent draw upon. First they on handdition close their doors. their all, deposits $1,500,000 impossible in National as others The mob fund of making The it Colorado are in are thdrawing equally their money deposit let being all small satisfied to in their holdor main banks. Accounts all ox. are The banks paying demandand time they rtificates, demand. the ing these until ing that expira remain As bank every crowded is no as rendering combeing tion clearing time. Institution the meeting it was sistance, stand each alone. house last and night gome pelled of the clearing to help banks, of which decided of them not went National Bank, quite a run is men Altho Stato is for of their in progrous a in large line waiting can get their ap. pear and women are 80 they of the bank and come officers of humor are say they storm. o'clock money. turn to to Confident The the best they can weather was overything National. of the "This bank of is board directors, to the at every entrance National the quiet Up at the 12 Colorado is closed by notice order posted Bank of of which Governor Commerce, is The offiCooper president. of but no amount been sufficers Job A. are indentraty or has to gain admis- is not pounding cient for newspaper condition men of public, as this bank vester offiThe the general statement of the banks cere day, was done City sion. known did to not print by a almost all National to other John R Hanna, they of felt the the any body. as selves $40,000 east Bank said good that condition borrowed in gold The be in bank as recently and is paying from this morning. the the deposite such and Several of deposits this putting can made large of bank the have at are hand and runs ac- on the bank spare. sums friends Those they are those who are who making have small posted had a counts Union National that Bank the bank 000 to notice approxime few The explaining mately $1,000, weeks. The had on realized it but paid out in the stated last that the rapidly bank as that notice depositor further its securities was not as fast enough in to suit possible, depositors. and owes that the bank securities It is thought upon been its socur paid in $500,000. will be able depositors realize have to realize. again Commercial when all The bank BOOD expects as can bank post- for notice: for full. business as National "Closed of diboard ed The the following by order of the in bad shape. only liquidation The bank $250,000 was and had jcan rectors. It has cash in of the rushed bank to the Amer and $2,000 in depositors bank this morning The has than Small National out their deposits. less sidall depositors capital. as city, began American to draw National any bank other of its dealing handled The $1,000,000. in the with who ot the who have been largely vico president and had to the big money. said that those thoso who paid The grocera depositors draw butchers money are with checks bank in person to in private a with noon. money Mercantile capital Bank, stock a of The $100,- fail. of the stitution, its doors at failure which 000, closed caused by Bank, the through audi F. ure was Union National O.C. Girda, Robinson the clip Pub- fortor.is cleared. president of W. the Republican oldest and been merly tishing treasurer Company, dividuals one of the in the state, and exeitement upon the respected made the assignee demands banks after una money continued it about al when o'clock all the banks the bated entirely until subsided State National line and of deseemed to increaso is bank National, Utah where the instead of to underato from way City reach here early special This bearing train on $400.000 the and that ved First little National after closing Bank 1 o'clock hour. recei This and money Moffatt President New nt the York. for Icua, bullion he the before the of close, failure Savings with Bank, Its $100,000, the hour dozen people hardly half the institutions except First president of the

4. July 19, 1893 Evening Journal Wilmington, DE
Article from Evening Journal, July 19, 1893

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EARLY NEWS SUMMARY. Held Responsible for Deaths in the Cold Storage Fire. THE JURY RENDERS A DECISION. Director of Works Burnham, Fire Marshal Murphy. President Skinner and Secretary McDonald, of the Hercules Iron Company. That Built the Building, Found{Guilty. The coroner's jury investigating the Cold Storage fire disaster held Director of Works Burnham, Fire Marshal Murphy, President Skinner, of the Hercules Iron Company, that built the building, and Secretary McDonald, of the same com pany, responsible for the deaths. 4 Denver Bank Failures, The Union National, National Bank of Commerce, Commercial National and Mercantile banks, of Denver, failed and the McNanara dry good house and several other business houses went under owing to the financial panic there. Crusade Against Colored People. Founder Bradley, of Asbury Park, has begun a crusade against the col ored people who monopolize the seats on the beach and pavilions. A Celebrated Case Decided. Judge Acheson in the United States Circuit Court at Erie decided the cele brated case of the Stonemetz Printing Machinery Company vs. the Brown Fold ing Machinery Company in favor of the former. Paid $600,000 in Gold. The New York Sub-Treasury was debtor at the Clearing House to the extent of $669,000, and Treasurer Jorden ordered that the difference should again be paid mostly in gold. Of the total amount $600,000 was paid over in gold and the balance in currency notes. Oldest Bank in Kansas Falls. The First National Bank of Fort Scott, Kan., the oldest financial institution in Southeastern Kansas, suspended payment and the Citizens' Bank at Kan. sas City, the bank of Richmond and the Farmers' and Merchants' Bank at Ossa wattomie have also failed. Prominent Club Man a Forger. : Lloyd Aspinwall, the New York club man, is confined in Yorkville prison, N Y., in default of $5.000 bail, upon the charge of forgery. It is charged that he forged the name of William Aspinwall in indorsing a check. 1 A World's Fair Tradgedy. Miss Emma Garrett, of Philadelphis, who has charge of the Pennsylvania ex t hibit of the work of pupils in institu tions for the blind at the Fair, became 0 insane from overwork and killed herself f by jumping from the fifth story of a hotel. a Meyer, the Poisoner, Arraigned. Dr. Henry C. W. Meyer, the alleged wholesale poisoner, was arraigned be fore Judge Cowing in New York to plead to the indictment charging him with murder. At the request of Lawyer v Joseph Moss. the prisoner's counsel, the judge allowed the case to go over until Thursday.

5. July 19, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 19, 1893

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Trouble - Yesterday's Calamities. DENVER, Col., July 18.-The Union National bank, of which R. W. Woodbury is president, failed to open its doors this morning. The capital is $1,000,000. No statement can be had. A run is now being made on City National, German National, First National, Colorado National and all the eleven clearing house banks. The McNamara dry goods house, one of the largest institutions of the kind, failed this morning. The liabilities are placed at $260,000. The assets at this not known. on an time brought are by attachment The failure served was on the house at 10 o'clock this morning by the Union National bank, which failed to open its doors this morning, for $71,780, and the Colorado National bank for $20,847.74. The president of the latter bank had a private claim of $25,000, and D. Sheedy, an officer in the Denver National bank, one for $40,000. The failure was not unexpected, but it had been hoped that money would be easier and that the firm would be able to pull through. The stringency in the money market and inability to place securities or secure an extension from the banks, aided by the closing of three savings banks yesterday, was the direct cause. Had the banks which closed yesterday been able to secure cash with which to carry it over the "hard spots" the failure would not have occurred. Nearly the entire amount falls on Denver banks and commercial houses. Hyman & Co., proprietors of the Bee Hive store; McWhirter & Dipps, dealers in mantels and tiles, and Engle & Harris, dry goods, have just assigned today. No statements available, but amounts probably not large. The Mercantile bank, with a capital of $100,000, has assigned to W. F. Robinson. The Mercantile bank, a private institution, with a capital stock of $100,000, closed its doors at noon. The failure was caused by the failure of the Union National bank, through which it cleared. C.C. Mird, the city auditor, is the president. W. A. Robinson, formerly treasurer of the Republican Publishing company, one of the oldest and most prominent men in the state, has been named as assignee. DENVER, July 18.-The Commercial National bank has closed its doors. A notice says: "This bank has gone into liquidation by order of the board of directors." DENVER. Col., July 8.-The National Bank of Commerce has closed its doors. Ex-Gov. John F. Cooper is president of this bank. DENVER, July 18.-The excitement and demand upon the banks for money continued unabated till about2 o'clock when it had almost entirely subsided at all the banks except the State National and the German National, where the line of depositors seemed to increase instead of diminish. This bank is understood to have a special train on the way from Kansas City bearing $490,000, and that it will reach here early tomorrow morning. The First National bank received $170.000 at a little after 1 o'clock today. and $250,000 more at the closing hour. This came from New York. It was money due President Moffatt for bullion he had sold. Just before the close the failure of the

6. 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.

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 Oakes Weekly Republican Oakes, ND
Article from Oakes Weekly Republican, July 21, 1893

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BUSTED BANKS Seven Bad Fallares III Two Days at Denver. DENVER. July 18. --Commercial - circles are greatly excited over the failure of three banks in this city during the day. The banks constituting the triple failure are the Colorado Savings bank; the People's Savings bank and the Rocky Mountain Dime and Dollar Savings bank. An estimate of the total assets are $1,500,000 and liabilities are placed at nearly that amount. Charles H. Blakeney was made assignee of the Rocky Mountain Dime and Dollar Savings bank. DENVER, July 19.--Three national banks, the Union National. the Coinmercial National and the National Bank of Commerce, closed their doors during the morning, owing to the heavy demands of excited depositors. The Mercantile bank, a small institution doing business in the Mining Exchange building, also suspended, owing to to the close of the Union Bank, through which its clearances were made. Mercantile vallures. In addition to the bank failures the following firms went to the wall during the day: McNamara Dry Goods company; M. S. Noah. installment furniture dealer: Albert Nelson, restaurant; John Mouatt Lumber company; Luther J. Wygant, tiles and grates; Evans-Littlefield Confectionary company; "The Hub," general merchandise; Hyman & Cohen, shoe dealors, and McHiver & Drip, mantels and tiles.

9. 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.

10. July 28, 1893 Shenandoah Herald Woodstock, VA
Article from Shenandoah Herald, July 28, 1893

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South and West. AT Denver. Col.. the People's Savings, the e Rocky Mountain Dime and Dollar and the I Colorado Savings Banks have closed their e doors. At Kansas City, Mo., the Missouri National Bank has suspended payment: also 1 the Grand Avenue Bank, a private institu: tion. The assets are $200,000; liabilities, $140,000. l FOUR people were killed and several injured in a collision between a Grand Trunk train and a horse car in Chicago, III. THE foreign exhibitors at the World's e Fair are getting ready to file claims against the National Government for damages, claims to the amount of $400,000 having already been prepared. THE First National Bank at Cedartown. Ga., closed its doors. The suspension was caused by inability to realize at once on collaterals. SECRETARY MOHLER has issued a statement saying that if the conditions continue favorable Kansas will have the largest corn crop in the State's history, with the exception of that of 1889. Miss EMMA GARRETT. of Philadelphia, who with her sister, Miss Mary 8. Garrett, had charge of the Pennsylvania blind children's exhibit at the World's Fair, committed suieide by leaping from a window at the Briggs House, THREE Denver (Col.) National banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors, owing to the heavy demands of excited depositors. The Mercantile Bank, a small private institution. also suspended, owing to the closing of the Union Bank. URUGUAY'S exhibition in the Agriculture Building, World's Fair. was thrown open to the public view, and was visited by large crowds. THE drouth, which exten led over an area of 40,000 square miles in Western Texas, has been broken by good rains. AT Denver, Col., the German, State and People's National Banks closed their doors to forestall the heavy demands that it was evident would be made. The list of closed banks in Denver is now thirteen. of which six are National, five savings and two private institutions. Two men were mortally wounded and on? instantly killed in a pitched battle between tramps and citizens near Sheffield, Ind. AT Green Bay, Wis., Rear-Admiral Melancton Smith. United States Navy, died after a two-days' illness. He was born in New York City, May 24, 1810, and entered the navy as 8 midshipman at the age of sixteen. THE Brazilian Building was dedicated at the World's Fair. THE Commissioners of Agriculture of the Southern States, in session at Atlanta, passed a resolution calling for the adoption of a uniform system of control and regulation of the manufacture and sale of commercial fertilizer. SWEDEN'S day at the World's Fair was celebrated by a big procession and a concert: Columbia's Building was opened on the same day. A NUMBER of striking miners, with their wives, attacked the strip pit miners in one of the mines near Weir City, Kan. A fierce fight ensued, in which clubs and firearms were used. About 100 shots were fired and a number on both sides were injured. No one was killed. IT is estimated that ten thousand persons in Denver, Col., and twenty thousand out. side of it have been thrown out of work by the cessation of silver mining. They are in great distress.

11. 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

12. July 28, 1893 Fisherman & Farmer Elizabeth City, Edenton, NC
Article from Fisherman & Farmer, July 28, 1893

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LATER NEWS. A DINNER was given in honor of James H. Eckels, Controller of the Currency, at the Union League Club, New York City. THE corner stone of the Odd Fellows' Temple, which will cost $1,000,000. was laid at Philadelphia, Penn., with impressive ceremonies. MISS EMMA GARRETT. of Philadelphia, who with her sister. Miss Mary S. Garrett, had charge of the Pennsylvania blind children's exhibit at the World's Fair. committed suicide by leaping from a window at the Briggs House. THREE Denver (Col.) National banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors, owing to the heavy demands of excited depositors. The Mercantile Bank. a small private institution, also suspended, owing to the closing of the Union Bank. URUGUAY'S exhibition in the Agriculture Building, World's Fair. was thrown open to the public view, and was visited by large crowds. IT was reported that the warship Mohican was disabled on June 25 by a shot from the seal-poaching steamer Alexandria passing through her machinery ; the story was discredited in Washington. THE Navy Department formally accepted the cruiser Detroit and authorized the payment to the builders of reserved funds amounting to about $225,000. IN the court-martial of the officers of the Victoria, at Valetta. Maita, Flag-Lieutenant Gilltord and Staff-Commander Hawkins Smith testified that Vice-Admiral Tryon said immediately after the Camperdown struck the Victoria, "It was all my fault." BRIGANDS raided the village of Lipkaey, Bukowina. The villagers killed five of them and wounded several more. The villagers were finally routed and the place looted.

13. July 29, 1893 Morning Journal and Courier New Haven, CT
Article from Morning Journal and Courier, July 29, 1893

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Bank Resumption in Denver. DENVER, July 28.-The signatures to the special plan suggested by Comptroller Eckels are coming in rapidly from depositors in the suspended banks of this city. The State National's depositors representing over $100,000 have signed, and a great many have yet to be heard from. The National Bank of Commerce has received the signatures of depositors representing about $100,000, the German National for between $150,000 and $200,000, and the Commercial National's signatures for about $50,000.

14. July 29, 1893 The Sun New York, NY
Article from The Sun, July 29, 1893

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Bank Resumption in Denver. DENVER, July 28.-The signatures to the special plan suggested by Comptroller Eckels are coming in rapidly from depositors in the Denver suspended banks. The State National depositors, representing over $100,000. have signed and a great many have yet to be heard from. The National Bank of Commerce has received the signatures of depositors representing about $100.000. the German National for between $150,000 and $200,000. and the Commercial National for about $50,000.

15. August 28, 1893 Evening Star Washington, DC
Article from Evening Star, August 28, 1893

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CONTROLLER ECKELS BUSY. Many Suspended Banks Want to Resume Business. The controller of the currency was a busy man today. President Laws of the People's National Bank of Denver, Col., which recently resumed, applied, on behalf of that bank, for authority to absorb the assets of the People's Savings Bank of that city. The controller reserved his decision. Prestdent Dow of the Commercial National Bank of Denver, and President Walters of the First National Bank of Birmingham, Ala., applied to the controller today for authority to reopen those banks. The controller has authorized the City National Bank and the Merchants' National Bank of Louisville, Ky., to resume business September 1. The only bad news received by the controller today was the suspension of the First National Bank of York, Neb.

16. August 31, 1893 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, August 31, 1893

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United Press Dispatch by Special Wires. DENVER, CoL., Aug. 30.-The State National Bank will probably open its doors for business, to-day, having had the permission of the comptroller for several days. The Commercial, the only remaining national bank which closed during the recent flurry, will probably open between now and theend of the week. The German National resumed yesterday. The Union Bank at Greeley, Col. also opened for business yesterday. THE UPWARD MOVEMENT HAS BEGUN. KANSAS CITY, Mo., Aug. 30.-Business men and bankers are unanimous in the opinion that the low point in the present financial depression has been reached by Kansas City, and that the upward movement has begun. Bank presidents state that the banks have gained $2,000,000 in deposits since the run in July. WILL GIVE WORK TO MANY MEN. ST. PAUL, MINN., Aug. 30.-The Walter A. Wood harvester works will start up in a few days. Work will be provided for between 1,500 to 2,000 men. GOOD NEWS FOR 10,000 PEOPLE. ST. LOUIS, Mo., Aug. 30.-The St. Louis Stamping Company resumed operations yesterday, after an idleness of several weeks. W.F. Neidringhaus, the proprietor, has agreed to sign the Amalgamated scale. To-morrow 2,000 men will be at work. The importance of the resumption will be understood when it is known that 10,000 persons will be directly or indirectly affected by it. MINERS DECLARE THEIR STRIKE OFF. LEAVENWORTH, KAN., Aug. 30-At a geveral massmeeting of thestriking coal miners, held yesterday, it was decided by an almost unanimous vote to declare the struggle at an end and return to work at the other scale. It is expected that all the mines will soon be in full operation.

17. September 8, 1893 The Weekly Union Times Union, SC
Article from The Weekly Union Times, September 8, 1893

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Banks Resuming Business. WASHINGTON, D. C.-The following national banks which recently suspended payment have been permi ted to open their doors for business: The American National Bank, of Nashville, Tenn., the First National Bank, of Grundy Centre, Iowa, and the First National Bank, of Harrisonville, Missouri. DENVER, COL -The State National Bank, the last but one of the city's six national banks to suspend, opened its doors Thursday. The Commercial National will resume in a few days. Of the scores of national banks in Colorado which were compelled to close their doors a few weeks ago all have resumed save three, and it is said that they will again be doing business before the middle of the mouth. ECKELS IS HOPEFUL. CHICAGO, ILL.-Jamcs H. Eckels, Comptroller of the Currency, passed through Chicago on his way to Ottawa, III., where he will enjoy a two week's rest at his home. Mr. Eckels spoke very hopefully. He would not predict how long it would be before matters had resumed their normal condition, but the bottom had been reached, so far as, the banks were concerned, and financial af. fair were on the up grade. They are proposing to pension teachers in England.

18. October 28, 1893 The Record-Union Sacramento, CA
Article from The Record-Union, October 28, 1893

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In the Hands of a Receiver. DENVER, Oct. 27.-The Commercial National Bank has gone into the hands of a receiver, on application of the Chicago men who hold one-third of the stock.

19. February 14, 1894 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, February 14, 1894

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A Denver Bank's Dividend. DENVER, Colo., Feb. 14.-The receiver of the Commercial National bank has received instructions from the comptroller of the currency to pay a 15 per cent dividend upon proved claims against the bank. The liabilities of the bank amount to $455,000, and this payment will make about 28 per cent of the total liabilities.

20. October 6, 1894 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 6, 1894

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THE BLOTTER UNITED STATES COURT-HANFORD, J. Frank B. Johnson vs. Great Northern Express Company-Motion to make more definite and certain; denied. James Fitzgerald vs. Great Northern Railway Company-Dismissed for lack of prosecution. Paul Hopkins vs. steamer Dispatch- Claim of Dyer & Co. for $15; not allowed. Newton Hartman vs. steamer City of Stanwood-Referred to C. E. Bowen to ascertain amount due libellant. United States vs. Z. Yamamato-Writ of habeas corpus; issued. G. W. Hunt vs. Northern Pacific Rail- road et al.-Wellington Clark appointed examiner. Frank Adams, receiver of Commercial National Bank of Denver, vs. Edward P. Caldwell et al.-Foreclosure of mortgage; demurrer; sustained. CIVIL DEPARTMENT, OSBORN, J. George F. Gund vs. Jacob Hopp et al.-

21. September 14, 1895 Western Kansas World Wakeeney, KS
Article from Western Kansas World, September 14, 1895

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# KANSAS STATE NEWS. On the night of September 1 the post office at Burr Oak was robbed of about $300. The robber fled into Nebraska. A. J. Lister, of Sedalia, Mo., was recently killed at Emporia by falling beneath a freight car upon which he was trying to steal a ride. It is stated that the suit of Bernard Murray against ex-Congressman Harris for alienating the affections of Murray's wife has been compromised. Willard S. Allen was killed on a farm near Vinland, Douglas county, the other night. While working on a haystack the stacker fell upon and crushed his skull. Joseph Hausenfritz, of Atchison, recently made a visit to his old home in Germany and was arrested because he left that country before serving the usual time in the army. Burglars entered the post office and general store of Nathan Harrington at Palermo the other night and stole about $600 in money and stamps. The robbers were traced to St. Joseph, Mo., but were not found. Millions of grasshoppers are said to be remaining in the fields of Barton, Rice, Stafford and other central counties where wheat has been harvested, and farmers are gathering and feeding them to their hogs. The governor has appointed the following delegates to the prison congress, which meets at Denver September 14: Warden Lynch, of the state penitentiary; C. E. Faulkner, J. C. O. Morse, W. C. Jones, J. C. Milliken. Since the 8th day of last January thirty-seven citizens of Shawnee county have been declared insane by the probate court, and since the 3d day of May fourteen other citizens of Shawnee county have committed suicide. Andrew Mikelson, 40 years of age, a farmer living ten miles north of Wamego, was killed by lightning the other night while lying by the side of his wife and child, neither of whom was hurt. The dog at the door was also killed. Ten thousand persons were reported to be present at Emporia to witness the parade during the military encampment. Sixteen hundred militia and nearly as many citizens, members of fraternal organizations, participated in the parade. The national guard encampment rt Emporia was voted a great success. The governor and state officers were present and given a reception by the people and speeches were made by Gov. Morrill, Senator Peffer, ex-Senator Ingalls and others. The Kansas River Baptist association in convention in Topeka, elected the following officers for the ensuing year: Moderator, Rev. George D. Rogers, of Lawrence; clerk, Miss Carrie Sheffield, of Topeka; treasurer, J. A. Lukens, of Topeka; statistical secretary, Rev. W. B. Hutchinson, of Topeka. R. R. Dunbar has brought suit to recover 328 acres of land in the city of Argentine. The land contains residences and business houses, among the latter being the largest smelter in the world. The suit is based on a number of old Indian deeds and the principal claimant is an Indian from the territory. The state live stock sanitary board denies the charges of stockmen that they are charging importers of live stock a tax of 2 cents a head without the sanction of law. They claim to have the right under the law to take any steps which they may deem necessary to keep contagious disease out of Kansas. Labor day was generally observed in the state. At Topeka there was a parade, and speeches were delivered by John J. Ingalls and J. R. Burton. At Lawrence the Woodmen had a log-rolling in Bismarck grove, while Leavenworth, Atchison, Wichita and other cities of the state contributed to the success of the day. The State Real Estate association, lately in session at Salina, organized the Kansas Million club, the object of which is to add 1,000,000 population to Kansas before the end of the century The officers of the organization are President, Gov. Morrill; vice presidents, Senators Baker and Peffer; secretary, E. Jameson, Leavenworth; treasurer, W. W. Watson, Salina. THE state treasurer's report for August shows that the total disbursements for the month were $404,186.33, while the receipts were $208,652.52. The largest single payment was $206,193, in disbursement of the semi-annual school fund dividend. At the close of the month the treasury had on hand $949,935.04. State taxes were received to the sum of $92,249.49. According to a report recently filed with the governor by the chaplain of the penitentiary there were in the prison at the close of August 879 convicts. During the month only 5 new prisoners were received, while 75 were discharged; of the total number of prisoners, 655 are whites, 218 colored, 4 Indians and 2 Mexicans; of the whites, 8 are females, and of the colored, 7. A big suit was filed in the United States court at Topeka the other day by the attorneys of Frank Adams, receiver of the Commercial national bank, of Denver, who asks for a judgment of $41,000 against the Western Farm Mortgage Trust Co., of Law-

22. May 21, 1896 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, May 21, 1896

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The Denv r Bank Wreckers. Denver, May 20.-C. H. Dow. president of the Commercial National bank which failed in the panic of 1893, was arrested here to-day on indictments charging him with misappropriation of the funds of the bank and making false reports to the government. He was released under $5,000 bail. Sidney B. Clurkin, paying teller of the bank, indicted with Dow, was arrested this afternoon at Colorado Springs. It is said that O. E. Miller, president of the Miller Hernia company of Chicago, who obtained $145,000 from the Commercial bank on almost worthless securities, has also been indicted, but the federal authorities refuse to talk about the matter.

23. May 21, 1896 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, May 21, 1896

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Ex-Bank President Arrested. DENVER, May 21.-C. H. Dow, president of the Commercial National bank, who failed in the panic of 1893, was arrested here yesterday on indictments charging him with misappropriation of funds of the bank and making false reports to the government. He was released under $5,000 bail.

24. December 19, 1896 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, December 19, 1896

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BANK SCANDAL IN DENVER Alleged Frauds Connected with Management of Commercial National Bank Being Investigated. CHECK KITING IS FRANKLY ADMITTED President Dow Says He Was Not Aware of "Dr." Miller's Heavy Overdrafts Till It Was Too LateRotten Chicago Concern. Denver, Colo., Dec. 19.-0. E. Miller president of the Miller Hernia Treatment company and one of the three defendants in the Commercial National bank fraud case, now on trial in the United States district court here, told the story of his transactions with the bank with the utmost sang-froid on the witness stand today. He admitted that he kited checks with all the Denver banks and took upon himself all the blame for the failure of the Commercial bank in 1893, in consequence of his overdrafts, amounting to $125,000. He said his affairs and ac. counts were 80 involved and complicated that he supposed his indebtedness to the Commercial bank was only $25,000, when it actually reached S total of $110,000. He declared that the eco-defendants, President Charles H. Dow and Teller Sidney G. McClurken, had nothing to do with his schemes. As Dow and McClurken are charged in the indictment with being principals in the misappropriation of the bank's funds, and Miller only as an accessory, it is said that, if the jury should fail to convict the bank officers, Miller would himself escape under the provision of the common law, which provides that the accessory can not be convicted without the conviction of the principals. Following Miller, President Dow took the witness stand. He testified that, while he authorized the kiting of checks by Miller, he was not informed of the overdrafts until after they had become 80 large that it was impossible for Miller to make good his indebtedness to the bank. ROTTEN CONCERN IN CHICAGO. Chicago.-A bill for a receiver for the International Building & Loan Investment company was filed in the United States circuit court to-day in the name of Gustav Konze, of Newark, N.J. It is alleged that the association is hopelessly insolvent and has been wrecked by a majority of the directors, who are seeking to evade responsibility by placing in their stead reputable business men for the purpose reorganization. It is charged that the assets do not exceed $370,000, while the liabilities are $940,000.