American National Bank (Denver, CO)

View Charter #4159 on SPMC View balance sheet

Episode Information

Episode UID
415901123
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
41590 national
Charter Number
4159
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
d0464aea8a88a460

Response Measures

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

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

Receivership Details

Date receivership started
1896-07-25
Date receivership terminated
1897-01-07
OCC cause of failure
Losses

Description

Some sources give a differing suspension date (one set says suspended July 1), so exact suspension day in July is slightly ambiguous.

Events (7)
1. November 13, 1889 Chartered
Source
historical_nic
2. July 18, 1893 Run
Cause
Local Banks
Cause Details
Run by small depositors amid a broader Denver banking panic and runs on other local banks.
Measures
Bank continued paying demands for most depositors; time certificates requested to remain till expiration.
Newspaper Excerpt
At the American National the small depositors who are not numerous made a run.
Source
newspapers
3. July 18, 1893 Suspension
Cause
Local Banks
Cause Details
Exhaustion of ready cash and runs on Denver banks forced temporary suspension of payments/closure of doors.
Newspaper Excerpt
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
Source
newspapers
4. August 17, 1893 Reopening
Newspaper Excerpt
The American National bank, which suspended July 1, resumed business this morning.
Source
newspapers
5. July 25, 1896 Receivership
Source
historical_nic
6. January 7, 1897 Restored To Solvency
Source
historical_nic
7. April 1, 1899 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (22)
1. July 18, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 18, 1893

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tion to draw upon,making It im possible to close their doore. The Colorado National and several others were equally good. The peo+ ple withdrawing their money were all small depositors. The banks are paying all demands except those on time certificates, demanding these to remain till the expiration of the time. President J. A. Thatcher of the clearinghouse saye: am confident that today will see the worst of this, and people will come to their senses. At a meeting of the clearinghouse last night we decided that we could not help the banks, and 10 some of them have gone to the wall. All of them, believe, have ample security to protect all their depositore, but unfortunately at this time cash and not security is what the majority of the people is clamoring for. At the State national bank quite a run is in progress. The officers appear to be in the best humor land say they are confident that they can weather the storm. Upt to noon everything was quiet at the Col rado national. It understood that half 11 million in gold was received there just before the doors opened this morning. Quite a crowd of people are about the doors of the Denver Na. tions. It was rumored that a run W&F in progress there but it was soon learned that the men of the Union Pacific employee were simply getting checks cashed fo the last month's work. "This bank is closed by orders of the board of directors," is a notice posted every entrance to the National Bank of Commerce. The officers inside refuse admission to outsiders. The condition of this bank is not known as it did not print a statement yesterday as was done by almost all the other banks. Joh H. Hanna of the City National said that they were in as good condition anybody. Hanna hopes to be able to control enough deposits to tide over. Several of the principal depositors made large deposits this morning. Some who owe the bank in the shape of notes but have cash deposits had payment refused on their checks. Liabilities subject to check are $559,808. Of this the officials control nearly two-thirds, 80 that the cash on hand, amounting to $333,338, will meet the demands of the email depositors. The Union National closed its doors this morning. and a notice was posted explaining that the bank had paid out B million dollars to the depositors in the last few weeks. It had realized on securities as rapidly as possibly but not fast enough. It has $1,600,000 in securities and owes approx. imately half a million. It is thought it will be able to realize on the securities when all the depositors will be paid in full. It expects to open again soon. The bank's resources ed sist of loans and discount, $1,622,689 and United States bonds to secure a circulation of hundred fifty thousand; cash and exchange $147,568; overdrafts $32,078; deposits $583,558. Due other nationnal banks $14,098; state bank $29,809; paper outstanding $170,000. President Wood. bury thinks it will reopen. The Commercial National closed its doors when it became evident from the size of the crowd outside that a run was to be inaugurated and a notice was posted: "Closed for liquidation, by the order of the board of directors." It has a capital stock of a quarter of a million, but only $2000 cash on hand. At the American National the small dei ositors who are not numerous made a run. The bank has a million capital and deals largely with men who handle big sume. The following are the first reports received: PANIC IN DENVER. DENVER, July 18.-The Union Na. tional bank has failed. It has a capital of $1,000,000. There is no statement yet. A run is now being made on the City National, German National, First National, Colorado National and all A eleven clearing house banks. panic ison. Later-The Commercial National has closed its doors. A notice on the doors saye: "This bank has gone into liquidation by order of the board of directors." The National Bank of Commerce has closed its doors. Ex.Governor J. A. Cooper is president of this bank.

2. 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

3. July 19, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 19, 1893

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President Woodburn thinks they will reopen. The Commercial National closed its doors when it became evident from the size of the crowd outside that a run would be inaugurated, and the notice posted said: 'Closed for liquidation; by order of the board of directors." It has a capital stock of $250,000 and only $2,000 cash on hand. At the American National small depositors. who are not numerous, made a run. The bank has $1,000,000 capital and deals largely with men who handle big sums. The excitement and demand upon the banks after money continued unabated until about 2 o'clock, when it subsided at all the banks except the State National and German National, where depositors seemed to increase instead of diminish. Just before the close the failure of the Mercantile Savings bank, with a capital of $100,000, was announced. Its assets are sufficient to pay all liabilities in time. D. H. Moffat, president of the First National, stated that the deposits at his bank. during the day greatly exceeded the withdrawals. The con tant drain on the banks by scared depositors has brought about a crisis. It is stated by bankers that no less than $8,000,000 were withdrawn from the banks in the last three months. Of this at least $5,000,000 is locked up in this city. Late this afternoon, two more savings banks assigned, the North Denver Savings bank and the private bank of Stephens & Hanchett, known as the Capital Savings banks. No statement of assets or liabilities is filed. The deposits are not thought to have been heavy.

4. July 20, 1893 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 20, 1893

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STILL SHAKEY At Denver, Although the Report Says it Looks Better. DENVER, Col., July 20.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National banks. This morning when the Colorado, Denver City and American National banks opened their doors, there was hardly a dozen depositors in all of them at the paying tellers' windows. At the First and Colorado National banks a long string of depositors reaching nearly to the street were lined up in front of the receiving teller's window, and money was going back into the bank's vaults, almost as rapidly as it was withdrawn during the past three days. The German, State and People's National banks could pay three for one, if they could only realize on securities. 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 banking or commercial house, will failure be complete and `resumption of business will surely follow shortly. It is stated today that the McNamara Dry Goods House, which failed Monday for $260,000, have settled with their principal creditors, and will resume business Monday.

5. July 20, 1893 The Waco Evening News Waco, TX
Article from The Waco Evening News, July 20, 1893

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FAILURE OF DENVER BANKS. The Panic is Ended and no More Failures Expected. By Associated Press to the News. DENVER, July 30.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, the German and the State National banks. This morning when the First, Colorado, Denver City and American National banks opened their doors there was hardly a dozen depositors in all of them at the paying tellers' windows. In the First and Colorado National banks a long string of depositors, reaching nearly to the street, were lined up in front of the receiving tellers' windows, and money was going back into bank vaults almost as rapidly as it was withdrawn du ring the last three days. The German, State and People's National banks could pay three dollars for one if they could realize on securities. There may be a few commercial failures in the city within the next few days as the result of the suspension of the banks, but it is believed that in no instance, whether a banking or commercial house, will the failure be complete and the re. sumption of business will surely fol!ow shortly. It is stated today that the MeNamars dry goods house, which failed Monday for $260,000 have settled with their principle creditors and will resume business Monday.

6. July 20, 1893 Evening Star Washington, DC
Article from Evening Star, July 20, 1893

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AFFAIRS OF BANKS. A Better Condition of Things Reported From the West. DENVER, Col., July 20.-There may be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German, and State national banks. This morning when the First, Colorado, Denver, City and American national banks opened their doors there was hardly a dozen depositors in all of them at the paying tellers' windows. In the First and 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. 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, and that resumption of business will surely follow shortly. It is stated today that the McNamara drv goods house which failed Monday for $260,000 have settled with their principal creditors and will resume business Mondav. The cheering news from Washington has had a wonderful effect upon Denver this morning. The dispatch from Controller of the Currency Eckels. to the effect that he would give every posssible aid to the banks of this city, is applauded on every side. Bank Examiner Adams, to whom the telegram was addressed, is besieged by excited people anxious to hear a confirmation of the good report and get an expression from him. Mr. Eckels comments on the foolish course of those Denver citizens who had lost confidence in the banks, are looked upon in a most righteous light. The newspapers are running off extras announcing the news and already things begin to wear a bright aspect. SAN BERNARDINO. CAL., July 20.-The national bank examiners who have been looking into the affairs of the First National Bank of this city have made a report to Controller Eckels, recommending that the bank be allowed to open at once. They state they found the affairs of the bank in good condition. PEORIA, ILL, July 20.-All fears of trouble at the banks as a consequence of the failure of Oberhauser's private bank Saturday have died away. Preparations have been made to stand any possible run, but none materialized. All the savings banks have now taken advantage of the sixty day notice clause governing withdrawals. Nashua, N. H., July 20.-The Security Trust Company closed its doors this morning. The bank has not met with losses. but stopped business on account of the withdrawal of deposits. The treasurer states that the bank will be able to pay all depositors in full. It has capital and surplus amounting to $250,000, which must be paid out before loss can come to the depositors. DENVER, CoL., July 20.-The First National Banks at Canon City and Grand Junction, this state, failed to open their doors this morning. It is probable the failures were caused by the suspension of the Denver banks. The New York Banks in Good Condition. NEW YORK, July 20.-Charles M. Preston, state bank examiner, was in this city yesterday. He spent most of the day in Wall street. calling upon a number of the bankers, with whom he discussed, informally, the condition of the banks in this city and state. "The banks of this state," he said, "generally are in good condition. anticipate no failures. The last report from those that come within my jurisdiction was on June 1, and the general average of the banks was sound at that time. Partial reports received since that time show no change. I do not think any of the banks need my attention. with the exception of the two or three which ceased to do business a month or 80 ago. So far as my examination goes, all the banks are abundantly secured, and the only possibility of trouble might come from a run at some particular time when there was 8 lack of ready cash. The banks are holding as much cash as possible. Depositors have no difficulty in getting their money when they want it. The bankers of this city are deserving of great praise for the promptness with which they sent money to Chicago when there were threats of a crash among the banks there. About $8,000,000 were sent and that action probably saved serious trouble in that city. Had the New York banks not done this a panic in Chicago might have occured."

7. July 21, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, July 21, 1893

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Panic Over in Denver. DENVER, Col., July 20. - There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National Banks. This morning when the First, Colorado, Denver, City and American Nationals opened their doors there was hardly a dozen depositors in all of them at the paying teller's windows. In the First and Colorado Nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving tellers' 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 There they could realize on securities. may be a few commercial fallures in the city within the next few days, as a result of the of banks, but it is believed that in no instance, a or a commercial failure be and banking suspension complete, that house, resumption whether will the of business will surely follow shortly. It is stated today that the McNamara dry goods house, which failed Monday for $260,000, have settled with their principal creditors and will resume business on Monday. Run On Banks in Greeley, Col. GREELEY, Col., July 20.-The Union Bank closed its doors at 1p. m. yesterday, and half an 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 suspen sion of certain Denver National banks, which had on deposit several thousand dollars of its money, and the fact that there was a steady withdrawal of deposits, about $80,000 in the past 90 days, they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital $300,000. As soon as the fact of the suspension ot 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 hours cashed two checks presented. On Change in Gotham. NEW YORK, July 20.-There was a sensational decline in general electric securities in the stock exchange after midday. The stocks broke 46 1-2, against 55 3-4 early, the debenture fives sold down to 74 regular. The stock| 1 is absolutely without support and the same crowd in the stock exchange which has been prominent in breaking the stock from 100 down, were conspicuous in today's movement. There were heavy liquidations, holders being unable to stand the pressure any longer. One report was that the company had lost a suit at the West, involving an incandescent lamp patent. Other rumors affeeting the property were of a highly sensational character and up to a late hour this afternoon had not been traced to any authentic source. New Hampshire Bank Enjoined. FARMINGTON, N. H., July 20.-The Farmington Savings bank was enjoined from doing business this afternoon upon the petition of the bank commissioners because of the inability of the institution to realize on its assets, the uneasiness of depositors caused by losses on investments and to prevent a run on the bank. This Plant Cost $1,000,000. SAN FRANCISCO, July 20.-Attachments aggregating several thousand dollars have been filed against the Union Stock Yards company whose packing establishment is at Rodoe, Contra Costa county. The immense,plant, it is said, has practically shut down. The plant cost $1,000,000 and was started May 15. Money Is Tight and the Distillery Closed. FRANKFORT, N. Y., July 20.-A sensation was caused in business circles here today by the assignment of Col. E. H. The Taylor, Jr.. the famous distiller. liabilities are not given out. It is said they are far exceeded by assets. The tightness of the money market caured the assignment.

8. July 21, 1893 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, July 21, 1893

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THE PANIC OVER. Denver Banking Houses will All Resume. Matters Settle Down. DENVER, July 20.-There will apparently be no more bank failures in Denver. The panic run itself out yesterday with the failure of the People's, German and State national banks. This morning when the First 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 Colorado nationals a long string of depositors reaching nearly to the street were lined up in front of the tellers' 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 realizo on securities. There may be n few commercial failures in the city within the next few days as a result of the suspension of banks, but it is bolieved that in no instance, whether a banking or commercial house, will the be follow tion failure of business complete will and surely that resumpshortly. It is stated to-day that the McNainara dry goods house which failed Monday for $200,000 have settled with their principal creditors and will resume business Monday.

9. 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.

10. July 21, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 21, 1893

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DENVER IN CALM MOOD. DEPOSITORS PUTTING THEIR MONEY BACK IN THE BANKS. CONTROLLER ECKELS'S MESSAGE APPRECIATED --NO MORE FAILURES REPORTEDHOPE OF RESUMPTION. Denver, July 20.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National banks. This morning when the First. Colorado, Denver, City and American National banks opened their doors there were hardly a dozen depositors in all of them at the paying tellers' windows. In the First and the Colorado, however, long strings of depositors reaching nearly to the street were lined up in front of the receiving tellers' windows, and the money was going back into the bank vaults a'm most as rapidly as it had been withdrawn in the last three days. The German, State and People's could pay $3 for S1 if they could realize on securities. 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, and that resumption of business will surely follow shortly. It is stated today that the McNamara drygoods house, which fail Monday for $260,000, has settled with its principal creditors and will resume business on Monday. The dispatch from Controller of the Currency Eckels to the effect that he would give every possible aid to the banks of this city is applauded on every side. Bank Examiner Adams. to whom the telegram was addressed, was besieged by excited people anxious to hear a confirmation of the good report and get an expression from him. Mr. Eckels's comments on the foolish course of those Denver citizens who had lost confidence in the banks are looked upon in a most righteous light. The newspapers ran off extras announcing the news, and things began to wear a bright aspect. The officers of the several closed banks all informed the public that they would be able. to pay every ceat due to customers. But in some cases it will take some 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 far-seeing ones anticipated trouble. such as has come upon the city in the last few days. It is noticeable that few of the merchants or business men of the city withdrew their deposits, the runs being made principally by the working people and poorer classes of customers. The newspapers feel greatly the distress, every daily excepting one having curtailed expenses by reducing its size using larger type. Difficulty in making collections is given as the cause. Bank Examiner Adams, who came up hurriedly from Pueblo to look into the condition of affairs, said this morning that S0 far as he had been enabled to make an inspection of the suspended banks, he did not believe that their condition was so serious as many were led to believe. He would, however, begin at once a thorough examination of the several institutions, and would in a few days be able to make a more extended and satisfactory report. The opinions of the leading financiers in the East to the effect that the crisis would be soon passed will doubtless have a beneficial effect in restoring confidence among the people here. Those banks which have not suspended transacted business as usual this morning. President D. H. Moffett, of the First National, is greatly pleased with the news from Washington, and predicts an early resumption of business.

11. 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.

12. 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.

13. 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.

14. 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."

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. August 18, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, August 18, 1893

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IN THE BUSINESS WORLD. Denver Banks Are Reopening-More Gold Arriving. WEST SUPERIOR, Wis., Aug. 17.-The street car employes struck this morning on a 10 per cent. cut in wages. DENVER, Aug. 17.-The American National bank. which suspended July 1, resumed business this morning. NEW YORK, Aug. 17.-The steamer Lahn arrived with $672,055 of gold from South Hampton and 1,047,500 france from Paris. ST. PAUL, Aug. 17.-Acting General Manager Kendrick has been appointed general manager of the Northern Pacific by the receiver. LONDON. Aug. 17.-Three hundred and fourteen thousand pounds of gold was withdrawn from the Bank of England today for shipment to the United States. NEW YORK, Aug. 17.-The steamer Munchan from Bremenhaun has arrived with $225,000 in gold. Bankers are in receipt of cables advising them of further heavy consignments. CINCINNATI, Aug. 17. - The Standard Wagon company, the largest company of its kind in the United States, assigned this morning to Grant H. Burrows. Assets, $1,000,000; liabilities, $700,000. DUBUQUE, Iowa, Aug. 17.-The First National bank. one of the oldest institutions in the city, with a capital of $200,000. suspended this morning. The last statement showed deposits of $528,890. The failure is due to withdrawals. CHICAGO, Aug. 17.-A proposition was made to-day to creditors of John Cudahy which will yield $1,300,000 instead of $800.000. John's brothers, Michael, Edward and Patrick. have signed a contract to pay the creditors $500,000 in yearly install. ments of $100,000 in addition to the securities which John has heretofore furnished. PITTSBURG, Aug. 17.-The Oliver Iron and Steel company. one of the largest concerns in the country, went into the hands of a receiver to-day on application of the National Tube Works company of New Jersey and E. c. Converse of New York. The capital of the company was $1,600,000; apparent indebtedness $60,000 and bonded indebtedness $585,000. H.W. Oliver was appointed receiver. The company has extensive plants in Pittsburg and Allegheny and employs 4,000 men. It is also largely interested in coke and natural gas. Its sales aggregate $5,500,000 annually.

17. August 18, 1893 The Yellowstone Journal Miles City, MT
Article from The Yellowstone Journal, August 18, 1893

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Denver Banks Resume. DENVER. August 17. The American National bankwhich suspended July 1st. resumed this morning. DENVER. August 17. The National Bank of Commerce reopened for business to-day, with almost a hundred per cent. of its liabilities on hand. Three more of the suspended banks are expected to open by Sept. 1st.

18. August 18, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, August 18, 1893

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YET THEY GO DOWN. The Financial Cloud Hangs Low in the Eastern Sky. There Is a Brightening in Spots, but Still the Storm Is Not Over. Special to THE MORNING CALL PITTSBURG, Aug. 17.-The Oliver Iron and Steel Company, one of the largest concerns in this country, went into the hands of a receiver to-day, on the application of the National Tube Works Company of New Jersey and E. C. Converse of New York. The capital of the company is $1,000,000; apparent indebtedness, $600,000: bonded indebtedness, $585,000. H. W. Oliver was appointed receiver. The company has extensive plants in Pittsburg and Alleghany and employs 4000 inen. It is also largely interested in coke and natural gas, The sales aggregate $5,500,000 annually, George T. Oliver. president of the Oliver and Roberts Wire Company, said: "The appointment of a receiver for the Oliver Iron and Steel Company will not affect the other Oliver operations under my active egement. These companies, like other siness interests, are suffering from the gency in money and the unprecebusiness depression, but so far as I now see, they are fully able to meet liabilities." NDIANAPOLIS, Aug. 17. -Receiver Hawof the Indianapolis National Bank a a sworn statement to-day which indicates that perjury was committed by the bank's officers in making tax returns. CHICAGO, Aug. 17.-A proposition was made to-day to the creditors of John Cudaliy which will yield $1,300,000 instead of $800,000. John's brothers, Michael Edward and Patrick, have signed a contract to pay the creditors $500,000 in yearly installments and $100,000 in addition to the securities which Cudahy heretofore furnished. DENVER, Aug. 17.-The National Bank of Commerce reopened for business today with almost 100 per cent of its liabilities on hand. Three more of the suspended banks are expected to open by September 1. The American National Bank, which suspended July 1, resumed business this morning. DUBUQUE, Aug. 17.-The First National Bank, one of the oldest institutions in the city, with a capital of $200,000, suspended this morning. The last statement showed deposits of $520,890. The failure is due to withdrawals. CINCINNATI, Aug, 17.-The Standard Wagon Company, the largest company of its kind in the United States, assigned this morning to Grant H. Burrows. The assets are $1,200,000; liabilities, $700,000. NEW YORK, Aug: 17.-Davis & Co., wholesale dry-goods dealers of this city and Chicago, assigned to-day. The liabilities and assets are about $200,000 each; Stringency of the money market is the cause of the failure. HUNTINGTON, Pa., Aug. 17.- The national bank at Wyndham, Bedford County, closed its doors to-day. The bank was operated by John K. and George B. White, who besides operated four large tanneries located at Wyndham, Dry Run and Manns Choice, which were also forced to close down. The liabilities are estimated at $350,000, with assets of $450,000. PORTLAND, Or., Aug. 17.-Depositors of the suspended Portland Savings Bankheld a meeting this afternoon and appointed a committee of five to wait upon the stockholders of the suspended bank and request them to pledge their individual property as a guarantee that the depositors of the bank will be paid in fill. It is understood that D. P. Thompson has resigned the receivership and that H, H. Northrup will succeed him.

19. August 18, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 18, 1893

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TWO DENVER BANKS REOPEN. Three of the Others Will Do So Before September 1. DENVER, Aug. 17.-The American National bank, which suspended July 1, resumed business this morning. The National Bank of Commerce reopened for business today with almost 100 per cent. of its liabilities on hand. Three more of the suspended banks are expected to open by September 1.

20. August 18, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, August 18, 1893

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TELEGRAPHIC BREVITIES. Treasury purchases of silver yesterday was 164,000 ounces at $0.7260. A cable from Antwerp yesterday reported six new cases of cholera, five of them fatal. The American National bank of Denver, which suspended July 1, has resumed business. The street car employes of West Superior. Wis., struck yesterday on a 10 per cent. cut in wages. The Sons of Veterans in convention at Cincinnati selected Davenport, Ia., as the next place of meeting. Colonel Brannan, charged with being the leader of the mob hanging the Italian, Arrata, in Denver, has been acquitted. The New York clearing house committee issued $365,000 in certificates yesterday. The total to date is $37,387,000. Acting General Manager Kendrick has been appointed general manager of the Northern Pacific railroad by the receiver. Six hundred and fourteen thousand pounds in gold was withdrawn from the Bank of England yesterday for shipment to the United States. The steamer Munchan from Bremerhaven has arrived in New York with $250,000 in gold. Bankers are in receipt of cables advising further heavy consignments. The Standard Wagon company, Cincinnati, 0., the largest company of its kind in the United States, has assigned to Grant H. Burrows, Assets, $200,000; liabilities, $700,000.

21. 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

22. 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