National Bank of Commerce (Denver, CO)

View Charter #4358 on SPMC View balance sheet

Episode Information

Episode UID
435801156
Episode Type
Run Only
Bank Type
national
Bank ID
43580 national
Charter Number
4358
Start Date
April 22, 1896
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a4f50de1d3b47888

Response Measures

Accommodated withdrawals

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

Events (3)
1. July 8, 1890 Chartered
Source
historical_nic
2. April 22, 1896 Run
Cause
Local Banks
Cause Details
Run precipitated by failure/closure of the American National Bank in Denver.
Measures
Paid every check presented; associated banks offered to aid if necessary.
Newspaper Excerpt
a run was at once precipitated on the National Bank of Commerce... The bank stood the drain, and at noon had paid every check presented.
Source
newspapers
3. November 14, 1908 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (10)
1. April 22, 1896 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, April 22, 1896

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Article Text

BIG BANK FAILURE IN DENVER American National Bank Closed Its Doors to Anxious Depositors This Morning. 6 t EX-U. S. MARSHAL HILL IN CHARGE Failure Due to Wrangle Among Stock). holders and Slow Collections-Resources and Liabilities-Run on Bank of Commerce. Denver, April 22.-The following notice was on the door of the American National bank this morning: "This bank bas closed its doors by vote of its directors and 18 in my hands as a representative of the government. ZEPH T. HILL." "Signed, f The announcement of the failure does not come as a sarprise to the business men of Denver, nor did it indicate any 8 lack of confidence in the general business r situation. The condition of the bank has been weak for a long time because of disagree. ments among the large stockholders, directors and officers. The retirement from the directorate and sale of the stock of several prominent a and wealthy men materially reduced the e business of the bank and made it impos ble to carry it on profitably. At the last report, made at the close of businesson March 6,the total deposits were $1.471,951; loans and discounts, $1,278,271; cash on hand, $232,265. The assets amounted to $2,245,173. RESOURCES AND LIABILITIES. The following statement was taken from the books of the bank this morning: Resources-Cash and exchange, $70,f 300; bills receivable, $1,078,000; stock and securities, $265,435; real estate, $136,590; excess on circulation, $22,000; total, $1,572,325. Liabilities--Individual deposits, $530,712; demand deposits, $28,898; time deposits, $66,297; due other banks, $97,024; borrowed money, $142,500; total, $865,237. A comparison of this statement with that of the one published shows that a very rapid decline has taken place in the deposits and reserve. Over $200,000 were withdrawn on Monday and Tuesday of this week, and, in view of this, the directors decided that the best thing to do WAS to close the bank. In addition to the resources given above, there are notes for $500,000, set aside for the recent reduction of the capital from $1,000,000 to $500,000, and a fifth interest in the Strong mines, taken in settlement of a debt. The president of the bank is John R. Hanna. Among the directors are Fine P. Ernest, Wm. and Moritz Barth, Mitchell Benedict, Geo. W. Ballantine and T.J. O'Donnell. RUN ON NATIONAL BANK OF COMMERCE. Denver.-In consequence of the failure A run WAR started this morning on the National Bank of Commerce. The other banks will probably come to its support if necessary to keep it from closing. Denver.-T line of depositors at the National Bank of Commerce, who wanted to draw out their money, extened far out into the street all day. All demands were met. There are no runs at the other banks. President Hauna, of the American bank, is prostrated. He attributes the trouble to the difficulty in making collection; says all depositors will eventually be paid in full.

2. April 23, 1896 New-York Tribune New York, NY
Article from New-York Tribune, April 23, 1896

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Article Text

A DENVER BANK CLOSES. EXCITEMENT IN THE COLORADO CAPITAL-RUN ON ANOTHER BANK Denver, April 22.-The American National Bank failed to open its doors this morning, a notice being posted on the window that, "By order of the directors, the bank is in the hands of the Government." Bank Examiner Hille took charge. The incident caused much excitement and a run was at once precipitated on the National Bank of Commerce, a crowd of clamorous depositors gathering soon after 10 o'clock. The bank stood the drain, and at noon had paid every check presented. It is understood the associated banks will aid the Commerce should it be necessary. The failure of the American was not unexpected in banking circles. One by one its leading financial backers have been dropping out and financiers knew that failure was inevitable. At a meeting of the associated banks held in the First National parlors last night proffers to assist the failed concern were made If the directors would do their part. This being refused, the American closed. D. H. Moffatt, president of the First National, with 1tg $8,000,000 of deposits and $5,000,000 of cash on hand, said this morning that the failure had no far-reaching significance. No important Industry or enterprise would be injured by it and notwithstanding the local excitement created, the facts justified the statement that no panic would ensue and that It was merely a crowding-out process. The failure and the run, however, caused intense excitement throughout the city, and crowds gathered about the two banking houses involved. As the Bank of Commerce continued to pay off steadily the excitement began to subside. Nothing unusual occurred at the other banks. At half-past 12 the run on the Bank of Commerce closed after two-thirds of the depositors had withdrawn their funds. A public meeting has been called by the angry depositors of the American National for tomorrow to protest against the alleged rottenness of the institution. The closing of the American National Bank of Denver wa3 not a surprise to the New-York financial community. The bank tried to borrow $50.000 of the Third National Bank, its New-York correspondent, Tuesday, but the request was refused. President A. B. Hepburn, of the Third National, said "Our relations with the American National Bank were satisfactory. We knew It had been having a hard struggle. A few months ago several of the men interested in It came East and tried to get new capital for the bank, but failed."

3. April 23, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, April 23, 1896

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Article Text

Business Failures. Denver. April 22.-The American National bank failed to open this morning. The following notice was posted: "This its bank has closed its doors by vote of directors, and is in my hands, as representative of the government, Zeph T. Hill." The failure does not come as a surprise or indicate any lack of confidence in the genéral business situation. The condition of the bank has been weak for a long time, because of internal dissensions. The retirement from the directorate and sale of stock by several wealthy men materially reduced the business of the bank. At the last report. made at the close of business March 6. the total deposits were $1,471,951; loans and discounts, $1,128,271; cash on hand, $232,265. The capital stock is $500,000, surplus $150,000. The assets amount to $2,245,173. and it is claimed there will be little trouble realizing on them. The following statement was taken from the books of the American National bank this morning: Resources, cash and exchange, $70,300; bills receivable, $1,078,000; stocks and securities, $265,435: real estate, $136,590: excess on circulation, $22,000; total, Liabilities: Individual deposits, demand deposits, $1,572,325. $530,712; $28,698; banks, time $97,024; deposits, $66,297; due to other A borrowed money, $142,500: total, $805,231. comparison of this statement with that published in March shows that the bank's deposits and reserve have declined very rapidly. Over $200,000 was withdrawn on Monday and Tuesday of this week, and, there being only $70,000 left, the directors decided that the best thing to do was to close the bank. Beside the resources given above there are notes for $500,000 set aside for the recent reduction of the capital stock from $1,000,000 to $500,000 and a fifth interest in the Strong mine at Victor. The president of the bank is John R. Hanna. The directorate consists of some of the leading men of Denver, including File P. Ernest, William and Moritz Barth. Mitchell Benedict, George W. Ballantine and T. J. O'Donnell. In consequence of the failure a run has been started on the National Bank of Commerce. John R. Hanna, president, and Howard Evans, cashier of the American National bank. were arrested late this afternoon on warrants sworn out in Justice Chapman's court, charging them with receiving deposits after the bank was known to be in a failing condition. Both were released on bonds. The run on the National Bank of Commerce ended about noon. All the demands were promptly met. At the other banks the deposits exceeded the withdrawals. President John R. Hanna, of the American National bank. in a published statement over his signature, said: "The shrinkage of deposits and but comparatively few new customers to replenish the loss and the inability to collect our bills, resulted in our inability to continue our business. I believe the depositors will eventually receive the entire amount due them. We have $350,000 in excess of assets exceeding OLT capital over our liabilities. The stockholders also may be assessed $500,000 more if necessary to pay the deposKors. With thus surplus I cannot see any loss to them." D. P. Moffat, president of the First National bank. said the failure was a weeding-out process which would not have any serious effect. The Denver clearing house offered to advance $300,000 to tide the bank over the crisis in its affairs, provided the leading directors and stockholders would become responsible for the sum by signing the necessary papers. It is said that none of them except Thomas Patterson would agree to this. It was then decided to close the institution. Chicago, April 22. -The Mason & Davis Company, manufacturers of stoves and ranges, failed today. and made John J. Whirl assignee. The assets are $73,000, liabilities $107,000. Syracuse, N. Y., April 22--T. C. & J. C. Miller. manufacturers of knit goods at Baldwinsville, have shut down their works and made a general assignment to Thomas H. Benton Crane and Wills Wendell The mill gave employment to 200 people. Preferences are made for $66,000 exclusive of interest and pay of employes. Cincinnati, April 22-The firm of Crawford. Eversole & Smith has assigned to D. D. Woodmansee. The liabilities are $800,000. assets $1,000,000. The firm succeeded Smith & Nixon, which was established in 1828.

4. April 23, 1896 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, April 23, 1896

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Article Text

BANK BROKE. The American National of Denver Closes Its Doors. Denver, Col., April 22.-The American National bank failed to open this morning. The following notice was posted: "This bank has closed its doors by a vote of its directors and is in my hands as a representative of the government. "Zeph T. Hill." This failure does not come as a surprise nor indicate any lack of confidence in the general business situation. The condition of the bank has been weak a long time because of internal dissensions. The retirement from the directorate and sale of stock of several wealthy men materially reduced the business of the bank. At the last report made at the close of business March 6, the total deposits were $1,471,951; loans and discounts, $1,128,271; cash on hand, $323,265. The capital stock is $500,000; surplus, $150,000. The assets amount to $2,245,173, and it is claimed that there will be but little trouble in realizing on them. The following statement was taken from the books of the American National bank this morning: Resources, cash and exchange, $70,300: bills receivable, $1,078,000: stock and securities, $265,435; real estate, $136,590: excess on circulation, $22.000. Total, $1,572,325. Liabilities: Individual deposits, $530,712; demand deposits, $28,698; time deposits, $66,297; due other banks, $97,024; borrowed money, $142,500. Total, $865,231. A comparison of this statement with that published in March shows the bank's deposits and reserve declined very rapidly. Over $200,000 were withdrawn Monday and Tuesday of this week and there being only $70,000 left the directors decided the best thing to do was to close the bank. Besides the resources given above are notes for $500,000 set aside for the recent reduction of the capital stock from $1,000,000 to $500,000 and a fifth interest in the Strong mine at Vic. tor. The president of the bank is John R. Hanna. The directorate consists of some of the leading men of Denver, including Fine P. Ernest, William and Moritz Barth, Mitchell Benedict, George W. Ballantyne and T. J. O'Donnell. In consequence of the failure a run has been started on the National Bank of Commerce. John B. Hanna, president, and Howard Evans, cashier of the American National bank, were arrested late this afternoon on warrants from Justice Chapman's court charging them with receiving deposits after the bank was known to be in a falling condition. Both were released on bonds.

5. April 23, 1896 Birmingham State Herald Birmingham, AL
Article from Birmingham State Herald, April 23, 1896

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BIG BANK FAILURE. A Run Was Made on Another Bank, Which Stood the Strain. Denver, Col., April 22.-The American National bank failed to open its doors this morning, a notice being posted on the window that "By order of the directors the bank is in the hands of the government." Bank Examiner Hillo took charge. The event caused much excitement, and a run was at once precipitated on the National Bank of Commerce, a crowd of clamorous depositors gathering soon after 10 o'clock. The bank stood the drain, and at noon had paid every check presented. It is understood that the associated banks will aid the National Bank of Commerce should it be necessary. The failure of the American was not unexpected in banking circles. One by one its leading financial backers have been dropping out, and financiers knew that the failure was inevitable. At the meeting of the associated banks, held in the First National parlors last night, proffers to assist the failed concern were made provided the directors would do their part. This being refused, the American closed. The failure and the run caused intense excitement throughout the city, and large crowds gathered about the two banking houses involved. As the Bank of Commerce continued to pay off steadily, the excitement began to subside. Nothing unusual occurred at the other banks. At 12:30 o'clock the run on the Bank of Commerce ended, after two-thirds of the depositors had withdrawn their funds. A public meeting has been called by the angry depositors of the American National to protest against the alleged rottenness of the institution.

6. April 23, 1896 The Morning News Savannah, GA
Article from The Morning News, April 23, 1896

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BANK DOORS SHUT AT DENVER. THE AMERICAN NATIONAL FAILS AND A RUN FOLLOWS. Two-Thirds of the Depositors in the National Bank of Commerce Withdraw Their Deposits-Other Banks Stand by It and the Excitement Finally Subsides-A Bitter Feeling Against the American National. Denver, April 22.-The American National Bank failed to open its doors this morning, a notice being posted on the window that "by order of the directors the bank is in the hands of the government." Bank Examiner Hillo took charge. The event caused much excitement and a run was at once precipitated on the National Bank of Commerce, a crowd of clamorous depositors gathering soon after 10 o'clock. The bank stood the drain, and at noon had paid every check presented. It is understood the associated banks will aid the Bank of Commerce should it be necessary. The failure of the American was not unexpected in banking circles. One by one its leading financial backers have been dropping out, and financiers knew that failure was inevitable. At a meeting of the associated banks, held in the First National Bank parlors last night, proffers to assist the failed concern were made, if the directors would do their part. This being refused, the American was closed. The failure and the run caused intense excitement throughout the city and the crowds gathered about the two banking houses involved. As the Bank of Commerce continued to pay off steadily, the excitement began to subside. Nothing unusual occurred at the other banks. At 12:30 o'clock the run on the Bank of Commerce ended after two-thirds of the depositors had withdrawn their funds. A public meeting has been called by the angry depositors of the American National for to-morrow to protest against the alleged rottenness of the institution.

7. April 23, 1896 The Providence News Providence, RI
Article from The Providence News, April 23, 1896

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Article Text

Heads of Bank Arrested. Denver, April 23.-The American National bank failed to open its doors yesterday. A run was at once precipitated on the National Bank of Commerce, but " stood the strain, and at noon had paid every check presented. It is understood the associated banks will aid the Bank of Commerce should it be necessary. John R. Hanna, president, and Howard Evans, cashier of the American National bank. were arrested last night on warrants charging them with receiving deposits when the bank was known to be in a failing condition. Both were released on bonds.

8. April 23, 1896 The Norfolk Virginian Norfolk, VA
Article from The Norfolk Virginian, April 23, 1896

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CLOSING A NATIONAL BANK. A Run Made on the Commerce Bank and is Promptly Met. Denver, Col., April 22.-The American National Bank failed to open its doors this morning. a notice being posted in the window that "by order of the directors the bank is in the hands of the Government." Bank Examiner Hill took charge of the institution. A run was at once precipitated on the National Bank of Commerce. a crowd of clamorous depositors gathering soon after 10 o'clock. The bank stood the drain, and at noon had paid every check presented. It is understood the associated banks will aid the Bank of Commerce should it be necessary. The failure of the American was not unexpceted in banking circles. At a meeting of the Associated Banks, held in the First National parlors, last night, proffers to assist the failed concern were made if the directors would do their part. As the Bank of Commerce continued to pay off steadily the excitement began to subside. At 12:30 the run on the Bank of Commerce ended after two thirds of the depositors had withdrawn their funds. A public meeting has been called by the angry depositors of the American National for to-morrow to protest against the alleged rottenness of the institution.

9. April 24, 1896 Morning Appeal Carson City, NV
Article from Morning Appeal, April 24, 1896

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CONDENSED ITEMS. The American National Bank at Denver failed yesterday, and the failure was folowed by a run on the National Bank of Commerce. Christian Anderson of Connecticut was killed by lightening as he sat at the dinner table with fourteen relatives. No one else was hurt Bootn Tucker says that there have been fiew desertion from the Salvation Army in America, and several of the deserters have returned to the army. An Iowa farmer experimenting with the Roentgen photography claims to have accidntally discovered rays that will convert base metals into gold. The Senate Committee on Claims has reported in favor of paying $330,150 to the heirs of John Roach in connection with the building of the Chicago, Boston and Atlanta. A nephew of Rev. Dr. Parkhurst was killed in Texas by the premature explosion of a shell while a salute was being fired by the United States artilery, in which he was a private, The Hungarian police are ivestigating the circumstances of the death of Baron de Hirsch, there being rumors that it was of a suspicious character. These rumors, however, are generally discredited. When the United authorities finally decided that Chin Yuen Sing was not entitied to live in America, and must be sent back to China, it was found that Chin was dead and buried. But the authorities are not satisfied as to the identity of the dead man, and have a suspicion that Chin's body does not rest in the grave.

10. April 30, 1896 The Dakota Chief Gann Valley, SD
Article from The Dakota Chief, April 30, 1896

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Denver Bank Closes. The doors of the American National Bank at Denver closed Wednesday. A notice was posted that the directors had decided to liquidate on account of internal dissensions. It is said the depositors will be paid in full. The statement of the condition at the time of closing the doors shows: Resources, $1,572,325; liabilities, $865,231. In consequence of the failure a run was begun on the National Bank of Commerce.