Aspen National Bank (Aspen, CO)

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
July 19, 1893
Location
Aspen, Colorado (39.191, -106.818)
Bank Type
national
Charter Number
4733

Metadata

Notes

Run reported July 19, 1893; separate notice of the bank's failure appears Apr 10, 1894. Direct causal link between the run and the later failure is plausible but not fully documented in these articles.

Events (5)

1. April 25, 1892 Chartered
Source
historical_nic
2. July 19, 1893 Run
Cause
Local Banks
Cause Details
Closures of other local banks and correspondent troubles created panic leading depositors to withdraw from Aspen National.
Newspaper Excerpt
A run is now being made on the National and the greatest excitement prevails; 1,000 people are in line drawing their deposits.
Source
newspapers
3. April 9, 1894 Voluntary Liquidation
Source
historical_nic
4. April 10, 1894 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Listed among bank failures for 1894 (specific trigger not detailed in these excerpts).
Newspaper Excerpt
Apr. 10—Aspen (Col.) national bank.
Source
newspapers
5. April 10, 1894 Receivership
Newspaper Excerpt
Apr. 10—Aspen (Col.) national bank.
Source
newspapers

Newspaper Articles (2)

Article from St. Paul Daily Globe, July 20, 1893

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Article Text

OTHER Small Banks Go Up-Dry Goods Lumber and Other House Close. ASPEN, Col., July 19.-The Wheele Banking company, the pioneer bank the city, closed its doors at 2 o'clock afternoon. A statement of its affair cannot be learned at present. A notice on the door reads: "This bank has closed and is in hands of Benjamin Ferris." A run is now being made on the National and the greatest excitemen prevails; 1,000 people are in line draw ing their deposits. LOVELAND, Col., July 19.-The lowing notice was posted upon the of the Bank of Loveland just before noon today: "Owing to the closing of our Denve correspondents, we have decided close our doors temporarily. Our are largely the excess of our liabilities Every depositor will ue paid in full. Cashier TILLING "I "D" The principal correspondent of bank in Denver was the German tional. ASPEN. Col., July 19.-The stock dry goods of Schilling & Co., who recently closed by attachments, sold at a sheriff's sale at 1 o'clock to Aspen National bank for $12,500. It understood that the sale was a compro mise. and the firm will resume ness. The attachments amounted upward of $50,000. DENVER, July 19.-The North ver bank closed its doors late yesterda afternoon. There was no great run, the bank had been unable to realiz upon its securities and was short funds. The depositors have been sured that they will be paid 100 on the dollar. W. H. Yankee is vice president and S.S. Kennedy president The Tucker Skirt and Furnishing company, doing business on Sixteent street. assigned today to Charles pie. The assets are placed at $35,000 and the liabilities amount to $13,000. The Hallack-Sayre-Newton Lumbe company has assigned to Frederick Sayre. No schedule given. F. 11. Sayre, the assignee, sald tha the assignment was the direct result the closing of the State National and was simply necessary to gain tim during the present excitement. firm is one of the most extensive in city. The Blake Lumber company assigne to Emmett B. Annis. No schedul filed. This company was slightly nected in a business way with the The Palace drug store, corner teenth and Curtis, made an assignmen to F. F. Sayre, of the Hallack-Sayre Newton Lumber company, the assign ment being due to the failure of thi company. J. II. Naylor, a furniture dealer Fifteenth street, assigned this morning Simon T. Thorn for the benefit of


Article from Hopkinsville Kentuckian, January 1, 1895

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Article Text

LOOKING BACKWARD.

Leading Events of a Memorable Twelve Months.

THE YEAR 1894 PASSED IN REVIEW.

Failures, Casualties, Crimes, Foreign and Industrial Happenings, Meteorology, Political, Social and Sporting Events Chronologically Recorded.

BUSINESS FAILURES.

BANKS GENERALLY. OTHERS FOR $500,000 AND OVER.

Jan. 3—Southern Land and Improvement Co., Frankfort, Ky.; $500,000. Jan. 9—Citizens' bank at Ogden, Utah... Bank of Port Washington, Wis. Jan. 10—W. T. Beak & Co., San Francisco commission merchants; $750,000. Jan. 14—Meadville (Pa.) savings bank. Jan. 15—Merchants' bank, Ellis, Kan. Jan. 16—Third national bank, Detroit Bank of Zumbrota, Minn. Jan. 22—Westview savings bank, at Louisville, Ky. Jan. 24—First national bank, Fort Payne, Ala. Feb. 9—Signa Iron Co., of Philadelphia; $100,000. Feb. 14—American national bank at Springfield, Mo Burlington (Ia.) Fire & Tornado Insurance Co. Mar. 2—State bank at Brookville, Kan. Mar. 7—Bank of Harrison, Neb. Mar. 13—Bank of Excelsior Springs, Mo. Mar. 28—People's savings bank of Duluth, and Merchants' bank of West Duluth. Apr. 6—J. B. Watkins Mortgage Co. of Lawrence, Kan.; $5,550,000. Apr. 10—Aspen (Col.) national bank. Apr. 13—W. H. Thomas & Son, whisky dealers and distillers at Louisville, Ky.; $500,000. Apr. 19—West Superior Iron & Steel company of Milwaukee; $2,500,000. Apr. 24—Merchants' bank of Enid, O. T. Apr. 27—Henry Newman & Co., importers of clothing supplies in New York; $1,500,000. Apr. 30—Scandinavian and Finland Emigrant Co. of New York; $4,000,000. May 4—First national bank of Sedalia, Mo. May 7—State national bank at Wichita, Kan. May 8—A. N. Schuster & Co., clothing dealers at St. Joseph, Mo.; $500,000. May 16—National bank of Pendleton, Ore. May 18—The order of Tonti in hands of receiver in Philadelphia. May 20—Traders' bank of Tacoma. May 24—Bank of Tempe at Phoenix, A. T. May 31—Bank at Enterprise, Kan. June 4—Steele & Walker, wholesale grocers at St. Joseph, Mo.; $700,000. June 5—Farmers' and Merchants' bank at South End, O. T. June 7—German national bank at Denver, Col.; $853,000. June 8—Union Warehouse Co. of New York; $1,000,000. June 10—American Investment Co. at Emmettsburg, Ia.; $800,000. June 18—Goodwin & Swift, of New York, electric railway builders and promoters; $750,000. June 21—Black Hills national bank of Rapid City, S. D. July 26—First national bank of Grant, Neb. Aug. 1—Baker City (Ore.) national bank. Aug. 7—Citizens' savings bank at Portsmouth, O. Aug. 10—Second national bank, Altoona, Pa. Aug. 13—Wichita (Kan.) national bank. Aug. 17—Commercial & Savings bank of Ludington, Mich. Sep. 6—Middleton (Pa.) bank. Sep. 7—Mutual Benefit Life association of America, headquarters at New York; $10,000,000 Oklahoma county bank at South Enid, O. T. Sep. 10—Citizens' bank of Plattsmouth, Neb. Sep. 21—Commercial bank at Weeping Water, Neb. Oct. 1—First national bank of Fayetteville, N. Y. Oct. 5—Coffin & Stanton, stock brokers in New York; $3,600,000. Oct. 10—American Debenture Co., of Chicago; $1,500,000. Oct. 11—First national bank of Kearney, Neb. Oct. 12—Buffalo county national bank at Kearney, Neb. Oct. 16—Merced bank, at Merced, Cal. Oct. 23—George M. Irvin & Co., of Pittsburgh, Pa.; $1,000,000. Oct. 25—J. J. Reithman and J. J. Reithman & Co., wholesale druggists in Denver; $500,000. Nov. 8—San Bernardino (Cal.) first national bank. Nov. 12—First national bank of Johnson City, Tenn. Nov. 20—Portland (Ore.) savings bank; $1,430,000. Nov. 23—Brown national bank at Spokane, Wash. Nov. 27—Kendall Banking company at Howard, S. D Security National bank of Grand Island, Neb. Nov. 28—Bank of Canova, S. D. Dec. 4—North Platte (Neb.) national bank Tacoma (Wash.) national bank. Dec. 5—Farmers' Insurance Co., of Seattle, Wash. Dec. 11—Commercial bank, at St. Joseph, Mo.