American National Bank (Denver, CO)

Episode Information

Episode Type
Run → Suspension → Reopening
Start Date
July 18, 1893
Location
Denver, Colorado (39.739, -104.985)
Bank Type
national
Charter Number
4159

Metadata

Response Measures

Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, 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

Notes

Sources conflict on the exact suspension date (some state July 1, others describe runs July 18); reopening on Aug 17 is consistently reported.

Events (7)

1. November 13, 1889 Chartered
Source
historical_nic
2. July 18, 1893 Run
Cause
Rumor Or Misinformation
Cause Details
Depositors panicked by reports and contagion from failures of other Denver banks and inflammatory local rhetoric.
Measures
Bank suspended payments (closed doors) amid heavy withdrawals.
Newspaper Excerpt
At the American National small depositors... made a run.
Source
newspapers
3. July 18, 1893 Suspension
Cause
Rumor Or Misinformation
Cause Details
Exhaustion of cash due to depositor runs and panic contagion from other failed/suspended Denver banks.
Newspaper Excerpt
Before the hour for opening notices were posted on doors of banks that on account of exhaustion of ready cash... 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 (23)

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.


Article from Deseret Evening News, July 18, 1893

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The failure of two banks at Denver today was raised by rumor in this city to the collapse of eleven, or all the clearing house banks. The latter report doubtless arone from the fact that a run was being made on all of the banks, but with the exceptions noted they stood the pressure.


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


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.


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.


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.


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.


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.


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.


Article from The Dickinson Press, July 22, 1893

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BANKS IN DENVER FAIL

Denver, July -The Union National bank, of which R. W Woodbury is president. failed to open its doors yesterday morning The capital is $5,000,000. No statement can be had. A run was made on the City National, German National, First National, Colorado National and all the eleven clearing house banks. The Commercial National bank and the Na tional Bank of Commerce are also closed. Ex-Gov. Job Cooper is president of the last named bank.


Article from Mineral Point Tribune, July 22, 1893

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Denver, July 18.-The Union National bank has failed. It has a capital of $1,000,000. No statement is yet made. A run was made on the City National, German National, First National, Colorado National, and all the clearing house banks today. A general panic is on. The Commercial National has closed its doors. The National Bank of Commerce has also closed its doors. Ex-Governor J. A. Cooper is president of the bank. The McNamara Dry Goods company, one of the largtst houses in the world, was closed by attachment this morning. Liabilities a. $250,000; assets unknown. President J. A. Thatcher, of the clearing house says: "I am confident today will see the worst of this and the people will come to their senses." At the State National bank quite a run progressed. The officers appeared in the best of humor, and say they are confident they can weather the storm. The Commercial National closed its doors when it became evident a run would be inaugurated, and a notice was posted: "Closed for liquidation, by order of 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 the run. The bank has $1,000,000 capital, and deals largely with men who handle big sums of money. The Mercantile bank, a private institution, with a capital of $100,000, failed at noon. The failure was caused by that of the Union National. Hyman & Company proprietors of the Beehive store, and McWhirter & Dipps, dealers in mantels and tiles, and Eagle & Harris, dry goods, have assigned. The excitement and demand upon ne banks continued unabated until about 2 o'clock when it subsided at all the banks except the Utah State National and the German National where the depositors seemed to increase instead of diminishing. 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. The constant drain on banks by scared depositors brought about a crisis. It is stated by bankers that no less than $8,000,000 has been drawn from 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 bank.


Article from The Helena Independent, July 22, 1893

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COMPTROLLER ECKLES showed the right spirit when he announced to the officers of the Denver banks that he would lend every possible assistance in order that they might resume business at an early date. He fully appreciated the fact that these banks were closed not because of the lack of sufficient capital or bad management, but simply because of a run of depositors who could neither be advised nor restrained. Under these conditions the comptroller is entitled to all credit for his efforts as an officer of the government to bring business back into its legitimate channels.


Article from The Progressive Farmer, July 25, 1893

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RUN ON DENVER BANKS

One Closes Its Doors and There is a Run on the Others. DENVER, Col, July 18.-The Union National bank, of which R. W. Woodbury is President, failed to open its doors this morning Capital, $170,000. No statement can be had. A run is now being made on the City National, German National, First National, Colorado National and the eleven clearing house banks. The panic is on.


Article from The Austin Weekly Statesman, July 27, 1893

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FINANCIAL DISTURBANC BAD STATE OF AFFAIRS AFFECTI ALL PARTS OF COLORADO. Thirty Thousand Men Thrown Out of ployment by Shutting Down of Mines Smelters and Dependent Institutions. Numerous Business Failures. DENVER, July 20.-There will parently be no more bank failures Denver. The panic wore itself yesterday with the failure of Peoples, German and State Nation banks. This morning when the Colorado, Denver City and Americ National banks opened their there were hardly a dozen deposite in all of them at the paying celle windows. In the First and Colora National banks long strings of itors reaching nearly to the street lined up in front of the receivi 0 window and money was back into the bank vault almost rapidly as it was withdrawn the past three days. The Germa State and Peoples Nationals could three for one if they could realize securities. There may be a few commerc failures in the city within the next days as a result of the suspension bauks. but it is believed that in no stance, whether banking or cial houses. will the failure be plete and resumption of busin SS surely follow shortly. It is stated day that the McNamara dry house which failed Monday for 000 have settled with their princi Monday. creditors and will resume busin UNEMPLOYED LABOR DENVER, Colo., July 20,-The


Article from Wood County Reporter, July 27, 1893

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DOINGS AT DENVER

Depositors Hustling Money Back Into Banks' Vaults. Denver, Col., July 20.-There will 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 Amerian National 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 drawn 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 com mercial house, will the failure be complete A resumption of business will follow shortly. It is stated today that the McNamara dry goods house, which failed Monday for $260,000, has settled with the principal creditors and will resume business Monday. While the situation in Denver is quieting down the effect of the local bank failures is being felt in interior towns in the state. Word was received here today that the First National bank at Canon City and the First National at Grand Junction, this state, failed to open their doors this morning. No particulars are at hand, but it is probable the failures were caused by the suspension of the Denver banks. The Flanders dry goods house, occupying five store fronts and five stories high on Sixteenth street, was attached this morning by H. N. Bradley, of Boulder, Col., for $24,000. There is no definite statement of the condition of the firm available. Competent judges place the assets at $200,000 wih liabilities at $25,000. The failure was caused by the suspension of the People's National bank to which $25,000 was due.


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


Article from Martinsburg Herald, July 29, 1893

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The Cloud in the East.

"The threatened closing of the mills in the East I regard as a much more serious feaure of the present situation than the closing of the Denver banks," says a New York banker.

So it is beyond question. The Denver banks were forced to close by the run resulting from the insane ravings of the Governor of Colorado and his hoodlum convention. The trouble with the mills in the East is of a different nature.

They are confronted by the free trade policy of the party in power. The market will not take their product and they cannot afford to tie up money in goods that may be depreciated by an act of Congress before they can be marketed. Some of them can suspend operations and live. Others must run or go under, and since they cannot sell they must do the other thing.

If there was no fear of a radical change in the tariff policy there mills would go on as before. It is easy to fix the blame without going far. Wheeling Intelligencer.


Article from San Antonio Daily Light, July 31, 1893

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IT is not the Wall street gold bugs who are responsible for the financial troubles in Denver, but the distrust and lack of confidence of her own people. There is no bank that can stand a drainage of hundreds of thousands in a day without preparing for it. There is not a doubt that the Denver banks are sound, but this insane run upon them for hundreds of thousands of dollars has simply forced them to suspend payments. It is a fool movement of the home simpletons.


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.


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.


Article from The Herald, August 18, 1893

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Denver Banks Resuming

DENVER, Aug. .-The American National bank, which suspended July let, resumed business this morning. The National Bank of Commerce aleo 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 1st.


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.


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.