Union National Bank (Denver, CO)

Article Text

Another Denver Bank Fails

Denver, July 29.-The Union National bank, of which R. W. Woodbury is president, was closed today. It will liquidate and go out of business. The Union bank was closed during the panic of 1893, But subsequently resumed business, and later consolidated with the State National, which had also been closed during the panic. It is said the depositors will lose nothing and business will not be seriously affected. The immediate cause of the bank's closing was loss of business. In the published statement of July If the deposits were given at about $800,000. Since then the deposits have dwindled to $634,000. The bank's loans and discounts, according to the last statement, amounted to $1,058,494. It will be possible to pay a 25 per cent. dividend to depositors from the resources on hand inside of ninety days, and according to the statement of the clearing house all depositors will be paid in full without the necessity of making an assessment upon the stockholders. The bank's capital is $500,000, divided among 400 persons. David H. Moffatt, president of the First National bank, said the closing of the Union National bank would not have any bad effects.

Article Text

Union Bank at Denver Closes

DENVER, Cora, July 29.-The Union National bank, of which W. R. Woodbury is president, was closed to-day. It will liquidate its aftairs and go out of business The Union bank was closed during the panic in 1803, but subsoquently renumed busines and later ---

Article Text

Bank Closes

DENVER, July 29.-The Union National bank, of which W. R. Woobury is president, was closed Monday. It will liquidate its affairs and go out of business. The Union bank was closed during the panic in 1893, but subsequently resumed business, and later was consolidated with the State National bank, which also had been closed during the panic. It is said the depositors will lose nothing, and business will not be seriously affected.

Article Text

DENVER BANK SUSPENDS

Over $100,000 in Its Vaults When It Closed. DENVER, Col., July 30.-Joseph T. Talbert, national bank examiner for the district of Colorado, arrived in Denver today and took charge of the affairs of the Union National bank. It is thought the examiner will be in a position to pay a considerable dididend to depositors at the end of eight or nine days. There was upwards of $100,000 cash in the vaults when the doors were closed yesterday, and in addition a considerable sum is due from other banks, which will of course be collected. It is stated with emphasis that the bank will pay dollar for dollar without having to make a levy on stockholders. The city has $25,008 in the bank, the county about $7,000 and the state about $50,000. SALISBURY, Mo., July 30.-The Bank of Salisbury closed its doors this morning. The shortage is unknown. J. H. Finks was cashier.

Article Text

Denver Bank Closed

Denver, Colo., July 29.-The Union National Bank of which R. W. Woodbury is president, has closed. It will liquidate its affairs and go out of business. The Union bank was closed during the panic in 1893, but subsequently resumed business and later was consolidated with the State National Bank, which also was closed during the panic. It is said the depositors will lose nothing and business will not be seriously affected.

Article Text

Touched Some Salt Lakers

The failure of the Union National bank of Denver caught several of Salt Lake's banks for small amounts, but the local institutions will not lose a cent through the suspension of the Colorado house. It is stated that the liquidation will be full and not long delayed.

Article Text

DENVER, July 30.-The Union National bank, of which R. Woodbury is president, was closed today. It will liquidate its affairs and go. out of business. The Union bank was closed during the panic in 1893, but subseqently resumed business and later was consolidated with the State National bank, which had also been closed during the panic. It is said the depositors will lose nothing and business will not be seriously affected.

Article Text

WASHINGTON

-The comptroller of the currency today appointed William S. Nelson, of Denver, receiver of the Union National bank, which suspended payment July 27.

Article Text

Receiver Appointed

WASHINGTON, Aug. 2.-The comp. troller of the currency today appointed Wm. 8. Nelson, of Denver, receiver of the Union National bank, which suspended payment on July 27. I

Article Text

The failure of the Union National Bank at Denver this week has temporarily tied up $50,000 of the State money. The State is amply secured and will suffered no permanent loss. This should be a lesson to treasurers to take the funds away from the shaky mismanaged city banks and place it the country banks, which preserved the State's credit during the panie of 1893.

Article Text

Two Receivers Appointed

W ASHINGTON, Aug. 3.-The comptroller of the currency has appointed William S. Nelson receiver of the Union National bank of Denver, and Granville C. Stapelton receiver of the First National bank of Ocala, Fla,

Article Text

Receivers For National Banks

W ASHINGTON, Aug. 3.-The comptroller of the currency has appointed William S. Nelson receiver of the Union National bank of Denver, and Granville C. Stapelton receiver of the First National bank of Ocala, Fla.

Article Text

Bank Receiver Appointed

The controller of the currency has appointed William S. Nelson receiver of the Union National Bank of Denver, Col., and Granville C. Stapylton receiver of the First National Bank of Ocala, Fla,

Article Text

THE GOOD TIMES

Denver, Col., July 29.-The Union National bank of which R. W. Woodbury is president, was closed today. It will liquidate its affairs and go out of business. The Union bank was closed during the panic of 1893, but subsequently resumed business and later was consolidated with the State National bank, which also closed during the panic. It is said the depositors will lose nothing, and the business will not be seriously affected. The wonder is that when "the depositors lose nothing and the business is not seriously affected" the bank ever closed. Those are the conditions of success. How tickled the angels must be over our human liars. How their wings must flutter as the G. O.P. evolves, every now and then, a "whopper" bigger than ever was heard of before. And Hell! Why Hell is on a broad perpetual grin.

Article Text

WASHINGTON, August 2.-The com troller of the currency to-day appointe William S. Nelson receiver of the Uniq National bank of Danver.

Article Text

Receiver Appointed

Washington, Aug. 4.-The controller of the currency to-day appointed W. S. Nelson receiver of the Union NaNonal Bank of Denver.

Article Text

Receiver Appointed

Washington, Aug. 4.-The controller of the currency to-day appointed W. S. Nelson receiver of the Union Na. tional Bank of Denver.

Article Text

Receiver Appointed

Washington, Aug. 4.-The controller of the currency to-day appointed W. S. Nelson receiver of the Union National Bank of Denver.

Article Text

To Dissolve the Receivership

Washington, D. C., Nov. 30.-Mr. Eckles, the comptroller of the currency, has decided to dissolve the receivership of the State National bank of Denver. This will leave the great bulk of the assets of the State National in the hands of the receiver of the Union National bank, who will collect them as trustee and not as receiver, and when collected he will apply them to the liquidation of the State National's obligation to the Union National bank. The State National bank will proceed in voluntary liquidation, and the future relations of the banks will be in accordance with the contract entered into by them at the time of the sus. pension. With regard to the block of Wolftone mining stock purchased some years ago by the directors of the State National bank itself, the comptroller has decided not to interfere as requested to do by the stockholders. who insist that this stock, which has materially increased in value, should be restored to the bank assets. Any further proceedings in this matter will have to be taken in the courts.