Union National Bank (Denver, CO)

View Charter #4382 on SPMC View balance sheet

Episode Information

Episode UID
438201123
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
43820 national
Charter Number
4382
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
a5affdce5f0c42c6

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1895-08-02
Date receivership terminated
1902-09-30
OCC cause of failure
Losses
Share of assets assessed as good
34.5%
Share of assets assessed as doubtful
53.8%
Share of assets assessed as worthless
11.7%

Events (5)
1. July 30, 1890 Chartered
Source
historical_nic
2. July 18, 1893 Run
Cause
Local Banks
Cause Details
Runs and failures of other Denver banks and recent suspensions (panic among depositors after other banks and savings banks failed).
Measures
Bank posted notice that it would not open; other banks paid demands except time certificates; clearing house offered limited assistance.
Newspaper Excerpt
A run is now being made on the City National, German National, First National. Colorado National and all the Clearing-House banks.
Source
newspapers
3. July 18, 1893 Suspension
Cause
Local Banks
Cause Details
Suspension/closure of the bank at opening due to heavy withdrawals and panic triggered by other bank failures and attachments.
Newspaper Excerpt
The Union National Bank ... failed to open its doors this morning.
Source
newspapers
4. August 21, 1893 Reopening
Newspaper Excerpt
The Union and People's National banks, which suspended on July 18 and 19 respectively, opened their doors for business this morning, they having complied with all the requirements of the Controller of the Currency.
Source
newspapers
5. August 2, 1895 Receivership
Source
historical_nic

Newspaper Articles (22)
1. July 18, 1893 The Evening World New York, NY
Article from The Evening World, July 18, 1893

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PANIC ON IN DENVER. Four More Banks Close Their Doors To-Day. Runs Started on All the ClearingHouse Institutions. several Kansas Banks Go Down. with One in Ada. Ohio. DENVER, Col., July 18.-The Union National Bank, of which R. W. Woodbury is President, failed to open its doors this morning. The capital is $1,000,000. No statement can be had. A run is now being made on the City National, German National, First National. Colorado National and all the Clearing-House banks. The panic is on. LATER.-The Commercial National Bank has closed its doors. A notice says: "This bank has gone into liquidation by order of the Board of Directors." The National Bank of Commerce has also closed. Ex-Gov. Job A. Cooper is President of this bank. The Mercantile Bank. a private institution with a capital stock of $100,000, closed its doors at noon. The failure was caused by the failure of the Union National Bank, through which it cleared. C. C. Girda, the City Auditor, is President. W. F. Robinson formerly Treasurer of the Republican Publishing Company. one of the oldest and most respected individuals in the State, has been made assignee. President Woodbury is of the opinion that the Union National Bank will reopen and continue business as before. It is one of the oldest banks in Denver, and has always been regarded as one of its solid ones. The failure of the Chamberlin Investment Company a few days ago affected the Union National, the Company having become indebted to the bank about $50,000. The Commercial National Bank was in bad shape. It has a capital stock of $250,000. and only had $2,000 in cash in the bank. TOLEDO, July 18.-The Citizens' Bank of Ada, O., the most prominent one in Hardin County, failed to open its doors this morning. Its owner, Peter Ahifield, has controlled it for over a quarter of a century, and is one of the wealthiest men of that section. No statement of assets and liabilities, or the cause of failure, can be obtained. FORT SCOTT, Kan. July 18.-The First National Bank, of this city, the oldest financial institution in Southeastern Kansas, has suspended payment. TOPEKA. Kan., July 18.-State Bank Examiner Breidenthal this morning received notice of the failures of the Citizens' Bank, of Kansas City, Kan., of the Bank of Richmond and of the Farmers and Merchants' Bank. at Ossawattomie. The concerns all did a small business. Statements are unobtainable. The opinion is expressed that other institutions throughout the State will soon go under. The Denver bank failures reported above are in addition to the three reported in the same city yesterday, which were as follows: People's Savings Bank: assets, $1,125,667.55; liabilities, $966,996.88 Colora do Savings Bank: assets over liabilities, $73,063.62. Rocky Mountain Dime and Savings Bank: assets, $156,803.53; liabilities. $105, 654.32. The seriousness of the situation is quite evident from the collapse of all f these institutions.

2. July 18, 1893 The Providence News Providence, RI
Article from The Providence News, July 18, 1893

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New York Market. SPECIAL TO THE NEWS. NEW YORK, July 18.-This is a market demoralized by ignorance and suspicion, and the depth of those feelings can not be calculated. There is no sign of improving conditions such as may form a foundation for any advance. The belief that easy money only was needed to cause a boom has given way in the face of facts. There is an abundance of money in certain hands, but the desire of its holders to part with it seems to decrease as the market declines. The news of the day was the report of St. Paul's earnings, which show a decrease of $67,700. There were rumors of the failure of the Union National Bank of Denver (capital $1,000,000), but the truth of the telegram was doubted by President Porter of the Chase National in New York. The Close National is the eastern correspondent of the Union and the president of the latter is reported as a very conservative banker and could easily secure assistance had he needed it. Six more private banks in Kansas have gone the way of their predecessors. It was agreeable to note that of the $667,000 owed the clearing house by the sub treasury and paid today, $600,000 was paid in gold. London was not a buyer. What orders there were were to sell. The closing of the Anuskeg mills during August will throw 8,000 men out of employment and deprive 30,000 people of food to eat. This was not railroad stock, out its effect was felt in declining prices. Shortly before 3 o'clock the report of the failure of the Capital Bank of Denver burst upon the market. Its effect was instantaneous. The bank is a large and important one, with deposite from all over the States. Stocks became more demoralized than ever, and had it not been for the closing gong a panic might have ensued. Crews, Lichenstadst & Co of London were reported in trouble. and other disheartening news added to the burden. Stocks averaged a decline of nearly 3 points for the day.

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

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

4. July 19, 1893 The Morning News Savannah, GA
Article from The Morning News, July 19, 1893

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DENVER'S BANKS RAIDED. Small Depositors Get Scared and Rush For Their Money. Denver, Col., July 18.-No such scene was ever witnessed in all the west as could be seen here this morning shortly after 10 o'clock when the banks were supposed to open their doors for business. The failure of three savings banks yesterday had affected the masses as the smell of blood would wolves, and at the hour of opening the streets werecrowded with anxious depositors. The eleven clearing house banks, located within four blocks of each other, were surrounded, and far into the streets crowds gathered, until officers and special police were called out to clear a way for traffic. THREE CLOSED THEIR DOORS. At 10 o'clock the Union National, with a capital of $1,000,000, posted a notice that they would not open their doors. This started a panic and the Commercial National posted a similar notice, and then the National Bank of Commerce, and A people asked "where will this stop." run was immediately started on all the other banks, though to no great extent upon the Peoples' National. The First National appears to be the soundest of all, they having over sixty per cent of their deposits on hand, with a private fund of $1,500,000 in addition to draw upon, making it impossible to close their doors. The Colorado National and several others are in equally as good condition. ALL SMALL DEPOSITORS. The mob withdrawing their money are all small depositors, large holders being satisfied to let their accounts remain in the banks. The banks are paying all demands except on time certificates, they demanding that these remain until the expiration of the time. As every bank is crowded, the clearing house is rendering no assistance, each institution being compelled to stand upon its own foundation. TWO MORE CLOSE. The Commercial National Bank closed its doors within a few minutes after opening, because it was apparent from the size of the crowd in front of the bank that a run was to be inaugurated. A notice was posted on the door reading: "Closed for liquidation by order of the directors.' The bank was in a bad shape. It had a capital stock of $250,000, and only had $2,000 in cash in the bank The Mercantile Bank, a private institution, with a capital stock of $100,000, closed its doors at noon. Its failure was caused by the failure of the Union National Bank, through which it cleared. C.C. Girda, city auditor, is president. W. F. Robinson, formerly treasurer of the Republic Publishing Company, one of the oldest and most respected individuals in the state, has been made assignee. A SURPRISE TO THE CONTROLLER. Washington, July 18.-News of the Denver bank crash caused some surprise in the controller's office, for it was believed there that the worst was over and that national banking matters would soon resume their normal condition.

5. July 19, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 19, 1893

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AT PANIC DENVER. Four Banks Compelled to Suspend. ALL THE OTHERS SUFFERED. Flurried and Weak Disqui- at New Stocks York on Account of eting Rumors. special to THE MORNING CALL ever was scene here witness hour when DENVER July 18.-No that this the morning, banks of failure shortly after for the business. yesterday The had excite streets three opened savings banks at the hour remaining of opening banks the wded were cro banks, the masses. in front and with anxious of the depositors. locate Clearing-house each other, were S until Eleven four blocks into of the street called crowds to within rounded, and far the police were gathered elear the way for the traffic. Union National, notice with that At 10 o'clock $1,000,000. posted a doors. The notice capital of open their had paid to depositors on they would explained not that the in bank the last few securities rapidlyas possible. and the panic weeks $1,000,000 and had realized but enough. few minThis started it utes became from when later, apparent on of the the the size crowd gathering inbe to run was that about sidewalk the closed National Commercial "Closed notice of augurated doors and posted order this of stock the board of $250,$2000 its for liquidation has by capital cash on hand. National Almost Commerce of the order 000. directors." There simultaneously is only suspended the payment. board is entrance Bank "This bank of is closed the notice by Commerce. posted at every The inside officers refused is this of directors, the Bank of admission to out- not bank condition yesstatement as other terday, known. siders. as The it was did done not by almost all of the noon were these the banks only it were suffering to suspend banks. Up failures, to the hour and was though hoped all that that no more hour, Bank. private with a institution by called it however, would be forced the Mercandie capital of $106.000 that of failed the cleared. after The failure National, was through demand which unabated upon the when 'clock. Union The excitement money and continued it subsided State Utah until banks about banks 2 except the National, instead where of depositors two National all the and seemed the German to increase asbanks more Bank aiminishing. Late this afternoon North Denver of Savings Stephens Savings & signed- the bank Capital 11a. Bank. the private as the assets or are filed. and Hanchett, No knowment statement of The the deposits bilities has to beer have been heavy. of the Clearingwill not President thought J. A. confident to-day people will house worst "I of am this and the meeting decided of the we could see come the to their senses. last night we and o some of them have gone have security ample Clearing-house not help the to the banks wal' All of to protect them, at unfortung is what this time of the majority all I believe. the depositors. cash people But not security are clamoring in unexcep of cent the for. First National having appears over private 60 per of fund $1,500,000 The condition. on hand. with a to draw it possible tionable deposits in addition close their and sevNational upon, making Colorado City National doors. The are equally of good. the as anysaid they hopes Hanna tide eral John others P. were Hanna in good be condition able over control the deposits depositors enough body Several of the of the this morning, notes. Some bank. made large deposits bank in the had shape payment reto check, who owe cash the deposited, Liabilities officials subject but have their checks Of this the cash nearly control two-third hand, $333,338, fused on $589,808. thirds so that will the meet amounting of small depositors. of consist and United Loans to ation, States bonds and cash on the The demand Union discounts Bank's $1,622,689 $147,566 $150,000; due exchange deposits. $32,078; overdrafts, State Bank, other banks, national $170,000 $29,809; the bank outstanding woodbury President will reopen. on by the banks scared drain Constant It about crisis. brought depositors no by less than stated bankers the from was banks drawn $8,000,000 Of a this the last three during is up city. least $5,000,000 were side While the feel the business bankommunity of the and hour shortly distress, the for Drybusiness McNamara the one largest houses open an in the attachment unThe liabilities The known. failure for the by Bank Goods West, was are closed $250,000; vas caused assets by attachUnion ments National The $20,847. $71,780: Colorado National, of had the ivate latter president an of and officer claim Sheedys. for in the $40,000. Denver $25.00 of Nabig Me the the failure Following other house mermara dry-goods were They failures cantile announced. the Mouat John Lumber Company. the on German National for restau Albert Nelson. Bank $155,200 of and with rant saloon, $111,510. M. Noah, $96,725; liabilities of with assets house. $40,000 furniture with firms other Three $16,000. liabilities also of failed. liabilities ON THE ECKELS SITUATION. a at the Comptroller New of York Banquet.

6. July 19, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 19, 1893

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PANIC AT DENVER Three More National Banks There Ferrer to Make Assign. ments. Depositors the Remaining Banks wildly Clamoring For Their Honey. Suspension of a Big Dry Goods House Adds to the Intense Excite ment. DENVER. July 19.-Never in the history of commercial and mercantile a life in the Rocky mountains has such state of financial affairs existed as now prevails in Denver and throughout banks Colorado. It was hoped that the that had weathered Monday's financial storm would be in such a position as to with all the demands made upon them cope by depositors. This hope was in dissipated by the announcement the quick succession of the failure of National Bank of Commerce, the Union National bank and the Commercial National bank. In the attending ex- to citement it is almost impossible ascertain the assets and liabilities of each bank, and this information may not be given out until later in the day. Depositors Panic-Stricken. The depositors in the different banks have become almost completely panicstricken and long lines of people are in pushing and crowding each other order to get to the paying teller's win- that dows of the dozen remaining banks they may secure their money on deposit. of to the excitement the Dry of $260,000 was of assets is not liabilities the The To add McNamara amount Goods company, stated announced. failure equal buti with is believed they will more than The failure was by the filing of an in favor of the This was for the cipitated tional $71,780 liabilities. bank. attachment attachment Union shortly pre- Na- beserved at 1 o'clock a. m. and fore business hours another attachment for $20,846.74 in favor of the Colorado National bank was served upon the company and the doors were closed. The dry goods company had a large amount of money outstanding on credit and on account of the stringency & the money market was unable to collect from country customers and thereby make their credit good at different banks. Claim to Be Sound. The First National bank appears to be on the best footing of all the banks. It claims to have on hand over 60 per cent of its deposits and to have a private fund of $1,500,000 in addition to draw upon, making it impossible for any demand to go unattended. The Colorado National bank and several others claim to be equally well fortified any run. Over per of who are the against people clamoring 90 cent for their money are small depositors. The large holders express confidence in the of the banks to successfully ride the As every bank is ability storm. rendering crowded no the clearing house is assistance and each bank is compelled to stand on its own resources. Believe the Worst Over. In an interview at noon President John A Thatcher, of the clearing h said: "I am association, confident people will the worst of this is over and to their senses. At the of the clearing house we ing soon come decided meetthat we could not help the banks and some of them have gone to the wall. All of them. I believe, have ample to protect all but at this time not security unfortunately depositors, cash and security is what the majority of the people are clamoring for." Up to 12 o'clock everything was comquite at the NaIt stated that the parativaly tional bank. Colorado bank in received nearly half a million dollars gold just before the opening hour. At the National Bauk of Commerce every entrance has the following placard: "This bank is closed by order of the board of directors." The doors are locked and no one is to enter. At 1:30 no had been the allowed failures announced, additional but feeling was still of a panicky nature. Still Another. DENVER. July -Late In the after

7. July 19, 1893 The Sun New York, NY
Article from The Sun, July 19, 1893

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KANSAS BANK FAILURES. Two Banks Suspend at Fort Scott and Three in Other Town. FORT SCOTT. Kan. July 18.-Two banks closed their doors in this city to-day-the First National Bank. with a capital stock of $300,000. and the People's Savings Bank. with $50,000 capital. For several days past steady withdrawals from these banks have been made. and the aggregate deposits of the First National have been reduced from $215,000 to $130,000.which amount it had at the time of closing. The officers of both banks strongly maintain that their business is only temporarily RUBpended. and that dollar for dollar will be returned to the depositors. The First National people assert that their Assets are more than $390,000. but that is In securities and cannot be immediately realized upon. The First National was organized in 1871. and the People's Bank in 1883. TOPEKA. Kan.. July 18.-State Bank Exam. iner Breidenthal this morning received notice of the failures of the Citizens' Bank of Kansas City. Kansas: of the Bank of Richmond, and of the Farmers' and Merchants' Bank at ORSAwattomic. The concerns all did a small business. Statements are unobtainable. The opinion is expressed that other institutions throughout the State will soon go under. WASHINGTON. July 18.-Before the office of the Comptroller of the Currency was closed this afternoon information had been received of the failure of three national banks to-day-the Commercial National and the Union National of Denver. and the First National of Fort Scott. Kan. The news of the Denver crash caused some surprise in the Comptroller's office. for it was belloved there that the worst was over and that national banking matters would soon resume their normal condition. The gold reserve took another downward tumble to-day from $188,050,480 its amount yesterday. to $97,672,852. The currency balance to-day was $20,118,160. against $26,117. 918 yesterday. The Chief of the Bureau of Statistics. in his statement of the exports and import of gold and silver. reports that the exports of gold from the United States during the twelve months ended June 30. 1893, amounted to $108,680,844. and the imports to $21,174,381: excess of exporte. $87,506,463. During the corresponding period of the preceding year the exports were $50,195,327. and the imports $49,699.45 excess of exports. $495,873. The exports of silver during the twelve months ended June 30. 1893, were $40,737,319. and the imports $23,193,252: excess of exports. $17.544.067. During the corresponding period of the preceding year the exports were $32.810,559. and the imports $19,955,086; excess of exports. $12,855,473. During the six months ended June 30 the exports of gold amonnted to $73,717,938. an increase of $32,148,788 over the corresponding period of the preceding year. The Imports were $11,759,043. an increase of $3,723,435.

8. July 19, 1893 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, July 19, 1893

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Financial Panic at Denver. DENVER, July 19.-The Union National bank failed to open its doors yesterday. The capital is $1,000,000. A run is now being made on the City National, German National, First National and Colonial and even the clearing house banks. There is a panic in financial circles. The National Bank of Commerce and the Commercial National bank have closed their doors.

9. July 20, 1893 The Morning News Savannah, GA
Article from The Morning News, July 20, 1893

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DENVER'S CRAZY PANIC. Banks Worth Three Times What They Owe Forced to Close. Denver, July 19.-The panic was on in this city to-day with renewed vigor and as a result the old German National, with a reputation for stability of 20 years standing, and the equally reputable State National failed to open their doors for business this morning. Later the People's National failed. All night long depositors stood in the line in front of the German, and by 9 o'clock there was one long sea of faces stretching down the street. On the opposite corner, where the State Bank has so long done business, there was also quite a crowd of anxious depositors waiting for the opening of the doors. Here the people were relieved of their agony at a few minutes after 9 o'clock. when notice was posted to the offect that the bank would not open, owing to a lack of ready cash, and the crowd moved away. THE GEPMAN FAILS TO OPEN. At the German there was evidently a determination to go ahead with business up to almost the last moment, when a slip of paper was pasted on a window stating that the doors would remain closed temporarily. Then the scene became distressing. Men and women down the long line broke out in tears and wailing. By this time there was a run on every bank in the city, and soon came the announcement that the People's National bank had closed its doors. A notice on its doors read: "This bank is closed by order of the board of directors. The assets are $1,100,000, and the liabilities $310,000. THE OTHER BANKS CLSO SOLID. The assets and liabilities of the other two failed banks bear about the same proportion as the People's bank. Their failure is chargeable to a long continued drain by depositors and inability to raise ready cash. All expect to resume shortly. Frank Adams, bank examiner, to-day took charge of the Union National, Commercial National, National Bank of Commerco, State National and German National. This afternoon the run at the Denver National, was over, with an enormous amount of money still in sight. The same is true at the City and all the other banks and business men are beginning to breathe freer. There has been a considerable number of failures among business houses of all kinds within the last few days, caused by attachments taken out by banks who foresaw their suspension. Five national banks are still open. OTHER FAILURES. Among the failures that almost escaped notice was that of the Bank of North Denver yesterday afternoon. The business firms whose embarrassments became known range from liquor saloons to street railroads. There are in the list drug stores, lumber companies, gentlemen's furnishers, milliners, coal companies, dry goods houses, jewelers, ready-made clothing dealers, tailors and grocers. Two bank failues are reported at Aspen and one at Loveland. Commercial failures are also reported from many points in the state outside of Denver, due principally to the fact that the sufferers deposited in the Denver banks which have suspended. TWO CLOSE AT GREELEY. Greeley, Col., July 19.-The Union Bank closed its doors at p. m. to-day and a half hour later the Greeley National pulled down its blinds and turned the key in its door. The Union's statement says that owing to the suspension of certain Denver national banks which had on deposit several thousand dollars of its money, and the steady withdrawal of deposits, amounting to about $80,000 in the past ninety days, they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital at $300,000. As soon as the fact of the suspension of these banks became known a steady run was made on the First National, but it continued to honor all checks and drafts, and even after the regular closing hour cashed two checks presented.

10. July 20, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, July 20, 1893

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CURRENT CURRENCY COMMENT A Regular Monkey and Parrot Time in Denver. SENATOR TELLER'S LATEST TALK A Nephew of Leland Stanford Turns up in Idaho-Married to Suit Himself. Associated Press. Denver, July 19.-The panic in this city was resumed this morning with renewed vigor, and as a result the Old German National bank, with a reputation for stability of twenty years' standing, the equally reputable State National, and extremely strong Peoples' National, failed this morning. All night depositors stood in line in front of the German National, and by 9 o'clock there was a long sea of faces stretching down the street. At the opposite corner, where the State National has so long done business, was also a crowd of anxious depositors, Here people were relieved of doubts, when at 9 o'clock a notice was posted on the doors that the bank would not open, owing to the lack of ready cash At the German National, just before opening time, a notice was posted on the (window stating that the doors would be closed temporarily. This notice caused a distressing scene. Men and women down the long line, broke out in tears and wailing. A run on all the remaining banks in the city was renewed. Reliable people, however, say there will be no more suspensions. Bank Examiner Adams this morning took charge of the Union National, Commercial National, National Bank of Commerce, State National andGerman National banks. A number of minor commercial concerns went under today, The run on the Denver National is over, with plenty of money still in sight. The same is true of the City and all the other unfailed banks. Business men are beginning to breath more freely. Washington, July 19.-The comptroller of Currency has been advised that the Hutchinson National Bank of Hutchinson, Kan., has failed. Topeka, Kan, July 19.-The state bank commissioner has been informed of the failure of the State Bank of Parker, and Woodson's State Bank, of Yates Center. Both were small concerns. Washington, July 19.-The comptroller of currency is informed of the failure of the Bozeman National Bank, of Bozeman, Mont. Brooklyn, July 19.-The large carpet house of Hardenburg & Co. has assigned.

11. July 22, 1893 The Hood River Glacier Hood River, OR
Article from The Hood River Glacier, July 22, 1893

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Denver has had a panic its banks being besieged by clamorous depositors. Asa result the Union National with a capital of a million dollars went down, quicklv followed by five others. Over 8,000,000 had been withdrawn from these banks in the past eight months, and they were in poor condition to stand a run.

12. July 22, 1893 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, July 22, 1893

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DENVER IS DONE FOR GENERAL PANIC IN THE COLORADO CITY, SEVERAL BANKS CLOSED THEIR DOORS YESTERDAY. Withdrawals by Scared Depositors the Cause-Union National, With $1,000,000 Capital, Goes Under-MeNamara Dry Goods Company Fails-Nervous People the Authors of Much Ruin.

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 27, 1893 The Middleburgh Post Middleburg, PA
Article from The Middleburgh Post, July 27, 1893

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# CASH WANTED AT DENVER. Security Plentiful, But Unsatisfactory Only a Temporary Panic. Three national banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors at Denver. Col., owing to the heavy demands of excited depositors. The 'clamor was mostly confined to small depos- itors, the larger ones expressing confidence in the banks' ability to pay in full. The Mercantile bank, a small private institution doing business in the Mining Exchange building, also suspended, owing to the close of the Union bank, through which its clearances were made. The liabilities are stated at $100,000. The suspension of three savings banks on Monday so alarmet the community that at 10 o'clock Tuesday morning, the hour for opening the banks, crowds had gathered in front of nearly all of the financial institu- tions. The streets were full of people dis- cussing the situation. It was an orderly crowd, however, and there was much sens- ible and conservative talk.

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. July 28, 1893 Idaho County Free Press Grangeville, ID
Article from Idaho County Free Press, July 28, 1893

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A PANIC IN DENVER. A Run on All the Banks, Over Half of Which Close. Denver, July 18.-The Union National Bank failed this morning. It has a capital of a million dollars. No statement is yet made. A run is being made on the City National, German National, First National, Colorado National and all the eleven clearing house banks. A panic is on. The Commercial National closed its doors at 11 o'clock, and the National bank of Commerce closed its doors at noon. 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, through which it cleared. No scene was ever witnessed here before like that of this morning, shortly after the hour when the banks opened for business. The failure of three savings banks yesterday had excited the masses and at the hour of opening the streets were crowded with anxious depositors. Eleven clearing house banks located within four blocks of each other were surrounded and far into the streets the crowd gathered until the police were called to clear the way for traffic. At ten o'clock the Union National, with a capital of $1,000,000, posted a notice that they would not open their doors. This started the panic, and following quickly, the Commercial National posted a similar notice. Then the National Bank of Commerce followed. A run immediately started on all the other banks, although to no great extent upon the People's National. The First National appears in unexceptional condition, having over sixty per cent of its deposits on hand, with a private fund of a million and a half in addition to draw upon, making it impossible to close their doors. The Colorado National and several others are equally as good. The mob that is withdrawing money are all small depositors, and the banks are paying all demands except on time certificates, demanding that these remain until the expiration of their time. President J. A. Thatcher of the clearing house says, "I am confident today will see the worst of this and people will come to their senses."

17. August 2, 1893 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, August 2, 1893

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LATER NEWS. A DINNER was given in honor of James H. Eckels, Controller of the Currency, at the Union League Club, New York City. THE corner stone of the Odd Fellows' Temple, which will cost $1,000,000, was laid at Philadelphia, Penn., with impressive ceremonies. MISS EMMA GABRETT, of Philadelphia, who with her sister, Miss Mary S. Garrett, had charge of the Pennsylvania blind children's exhibit at the World's Fair, committed suicide by leaping from a window at the Briggs House. THREE Denver (Col.) National banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors, owing to the heavy demands of excited depositors. The Mercantile Bank, a small private institution, also suspended, owing to the closing of the Union Bank. URUGUAY'S exhibition in the Agriculture Building, World's Fair. was thrown open to the public view, and was visited by large crowds. IT was reported that the warship Mohican was disabled on June 25 by a shot from the seal-poaching steamer Alexandria passing through her machinery; the story was discredited in Washington. THE Navy Department formally accepted the cruiser Detroit and authorized the payment to the builders of reserved funds amounting to about $225,000. IN the court-martial of the officers of the Victoria, at Valetta, Malta, Flag-Lieutenant Gilltord and Staff-Commander HawkinsSmith-testified that Vice-Admiral Tryon said immediately after the Camperdown struck the Victoria, "It was all my fault." BRIGANDS raided the village of Lipkaey, Bukowina. The villagers killed five of them and wounded several more. The villagers were finally routed and the place looted. PRESIDENT CLEVELAND returned to Gray Gables, Buzzard's Bay, Mass., from his fishing trip; he said that his health was splendid and that his rheumatic trouble had left him. FIRE on the dairy farm near Carteret, N. J., occupied by Thomas Stugg destroyed buildings covering seven acres, and caused a loss of about $30,000. THE drouth, which extended over an area of 40,000 square miles in Western Texas, has been broken by good rains. AT Denver, Col., the German, State and People's National Banks closed their doors to forestall the heavy demands that it was evident would be made. The list of closed banks in Denver is now thirteen, of which six are National, five savings and two private institutions. Two men were mortally wounded and one instantly killed in a pitched battle between tramps and citizens near Sheffield, Ind. AT Green Bay, Wis., Rear-Admiral Melancton Smith, United States Navy, died after a two-days' illness. He was born in New York City, May 24, 1810, and entered the navy as a midshipman at the age of sixteen. THE Brazilian Building was dedicated at the World's Fair. THE manufacture of the new army rifle (the Krag-Jorgensen) is being pressed vigorously, and a large number of special cutters and sharpers have already been procured. It is believed that the first lot of completed arms will be ready for delivery and issue to the service about September 1. FRANCE sent an ultimatum to Siam giving her forty-eight hours in which to comply with her demands. REAR ADMIRAL MARKHAM, in his testimony before the Malta court martial, said that Sir George Tryon's command was impossible to follow with safety.

18. August 22, 1893 New-York Tribune New York, NY
Article from New-York Tribune, August 22, 1893

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COLORADO BANKS REOPEN THEIR DOORS. Denver, Aug. 21.-The Union and People's National banks, which suspended on July 18 and 19 respectively, opened their doors for business this morning, they having complied with all the requirements of the Controller of the Currency. It is expected that the other three suspended National banks will resume within a short time. The three banks that have now opened their doors have been enabled to resume business by the certificate of deposit plan. These certificates have been issued in small amounts and they are passing among local business houses as cash. Each bank takes its own certificates for accounts due It. The result has been a material relieving of the financial stringency.

19. August 23, 1893 New Ulm Review New Ulm, MN
Article from New Ulm Review, August 23, 1893

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More Denver Banks Resume. DENVER, Aug. 22. -The Union and Peoples National bank which suspended on June 18 and 19 respectively, opened their doors for business at the regular hour, they having complied with all the requirements of the comptroller of the currency.

20. August 24, 1893 River Falls Journal River Falls, WI
Article from River Falls Journal, August 24, 1893

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INTERPRETER Yoshikawa and Com missioner Minano, Japanese represent ing their government at the world's fair, have been converted to Christianity. THE impeachment of President Cleveland and Secretary Carlisle is demanded by the Advocate, the organ at Topeka of the Kansas populists, for failure to purchase the prescribed quantity of silver in July. THREE cars were dropped 60 feet by the giving way of a bridge near Milton, Va., and seven persons were killed and four injured. THE First national bank at Dubuque, Ia., the bank at Albany, Mo., and the Kendall county bank at Yorkville, III., closed their doors. MARTIN SCHULTZ and his wife, an aged couple living near Cherokee, Ia., were murdered and their home ransacked by robbers. IN Cincinnati the Standard Wagon company, one of the largest concerns of the kind in the west, failed for $700,000; assets, $1,200,000. By a collision on the Chicago, Milwaukee & St. Paul railroad near Dubuque, Ia., twelve persons were injured THE death of John Logan Chipman, member of congress from the First district of Michigan, occurred at his home in Detroit, aged 63 years. THE Nebraska democrats will hold their convention at Lincoln October 4. IN a fit of anger Cyrus Brow n, of Cincinnati, shot and killed his wife, to whom he had been married thirty years. VIRGINIA democrats in convention at Richmond nominated Charles T. O'Ferrall for governor and R. C. Kent for lieutenant governor. THE four banks in Le Mars, Ia., suspended. They were the First national and Le Mars national, with a capital of $100,000 each, and the Le Mars state and German savings banks. DRINKING water from an impure well caused the death of three children of J. L. Casey, of Little Rock, Ark., and the rest of the family were seriously ill. A TRACTION engine near Martin's Ferry, O., became unmanageable and ran backward down a hill, killing Carrie and Nellie Ackerman, aged 5 and 11 years, respectively, and fatally injuring Ella King. A FIRE at Benton, III., destroyed the city hall, post office and the Chronicle office. J. S. JOHNSON made 3 miles in 7:55% in a bicycle race at Minneapolis, lowering the record 15 1/4 seconds. BUSINESS has been resumed by the First national bank of Anthony, Kan., which suspended payment in July. A MOB near Morganfield, Ky., lynched Charles Watson, a negro who cut the throat of little Sam Keith, 10 years old, to secure four dollars. WILLIAM J. JAMISON (colored), who murdered Supervisor Charles N. Aaron April 19, 1892, was hanged at Quincy, III. This was the third hanging in Quincy in sixty-five years. WITHIN ten days twenty members of the Meachain gang have been killed near Jackson Ala., and five others were surrounded, but escaped. BY the upsetting of a boat Mrs. Foster, her two children and her sister weredrowned at Bonnot's mill, 12 miles east of Jefferson City, Mo. NEAR Fort Smith, Ark., Charles Tart, a federal prisoner, was lynched by a mob for wounding Capt. C. C. Peete with a gun during a struggle. DOUGLASS CURTIS, of Chicago, as the result of a long spree, killed his child, fatally wounded his wife, and then took his own life. MRS. Anna E. SCHOLTKA, after forty years of married life, brought suit at Milwaukee for divorce from Christian Scholtka on the charge of cruelty. The couple have nineteen children. BUSINESS was resumed by the Union and People's national banks at Denver, Col., after a short suspension. NEAR Hunnewell, Kan., four haymakers were killed in a eollision with a company of soldiers who were clearing the Cherokee strip of intruders. A MOB lynched Monroe Smith(colored) for an attempted assault at Old Spring Hill, Ala. FIRE destroyed a large portion of the town of Dickson, Tenn.

21. August 29, 1893 Evening Star Washington, DC
Article from Evening Star, August 29, 1893

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BANKS HAVE RESUMED. Those That Were Temporarily Embarrassed Now All Right. Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock, $125,000; Gate City National Bank, Atlanta, Ga., $250,000; Capital National Bank, Indianapolis, Ind., $300,000; Washington National Bank, Spokane Falls, Wash., $250,000: First National Bank, Palouse city, Wash., $75,000; Southern California National Bank, Los Angeles, Cal., $200,000; First National Bank, Los Angeles, Cal., $200,000; First National Bank, San Diego, Cal., $300,000; First National Bank, Santa Ana, Cal. $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, Cal., $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Texas, $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo. Col., $50,000; Missouri National Bank, Kansas City, Mo., $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, Col., $1,000,000; National Bank of Commerce, Denver, $500.000: Hutchinson National Bank, Hutchinson, Kan.. $100,000; People's National Bank, Denver, Col., $600,000; First National Bank, Anthony, Kan., $50,000; Greeley National Bank. Greeley, Col., $50,000; Farmers' National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky. $300.000; First National Bank, The Dalles, Ore., $50,000; Waupaca County National Bank, Waupaca, Wis., $50,000; Waxahachee National Bank, Waxahachee. Tex., $100,000; CitIzens' National Bank, Attica, Ind., $50,000; First National Bank. San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000. Total capital stock of $6,030,000. Since January 1 last 154 national banks have suspended. Of this number one has gone into voluntary liquidation, 57 have been placed in the hands of receivers, 62 are in the hands of national bank examiners with excellent prospects of early resumption, in addition to the 34 above named which have already resumed business.

22. August 31, 1893 The Comet Johnson City, TN
Article from The Comet, August 31, 1893

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CONDENSED NEWS The postoffice at Dry Valley, Putnam county, Tenn., will be discontinued after August 31. During the past seven days there were 410 business failures throughout the United States. It is said that the Hon. William R. Morrison hopes to succeed Senator Cullon in the United States Senate. Mrs. Ada M. Bittenbender, of Lincoln, has been nominated for the Supreme bench by the Iowa Prohibitionists. Two more of Denver's suspended banks-the People's and Union National-have reopened their doors for business. The people of Memphis are indignant over a false report sent to Eastern papers, stating that yellow fever existed in the city. In the Orange, N.J., felt hat manufacturing district all of the factories have shut down, throwing 3,000 operatives out of work. At Lexington, Ky., it is reported that Judge James H. Mulligan is to soon receive the appointment of Consul General to Honolulu. The third trial of M. B. Curtis, the actor, at San Francisco, on the charge of killing Policeman Grant, resulted in a verdict of not guilty last Saturday. The City Council of Biringham, Ala., has voted to issue paper payable to bearers in denominations from twentyfive cents up, this paper to be liqudated by the sale of bonds the first of the year. R. G. Dun & Co.'s weekly review of trade reports that the change in the public feeling last week was noteworthy and that the improvement already noted has become much more distinct and general. At Springfield, Mass., Saturday over a loss track and with a heavy wind against her, Nancy Hanks, the Kentucky Queen of the turf, trotted a mile in 2 :08. It is rhe fastest mile ever trotted in New England. The Indiana law requires the State Treasurer to keep his cash balance in the vaults at the State Capitol, making it a penal offense for him to deposit it elsewhere. It seems, howeyer, that the