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BANKS FAIL. A Trust Company Follows at Pueblo, Col. First National of Victor Closes Its Doors. Bi-Metallic at Cripple Creek Joins the Procession. DUE TO MINERS STRIKE Bank Officiais Were Interested in the Mines. Institution at Sheldon, Iowa, in Hands of Receiver. Colorado Springs, Col., Nov. 5.-A special to the Gazette from Victor states that the First National bank of Victor has closed its doors by order of Bank Examiner Lazear. Shrinkage of deposits as a result of the long continued miners' strike is given as the reason for suspending business. President F. M. Woods states that all depositors will be paid in full. The closing of the bank caused no apprehension in financial circles, either in Cripple Creek or Colorado Springs. TRUST COMPANY QUITS. Pueblo, Col., Nov. 5.-As a consequence of the failure of the First National bank of Victor, Col., the Pueblo Title and Trust company, capital $250,000, will not open for business today. The trust company is controlled by. the Woods Investment company which also owned the Victor institution. Small of the company anthat the deposits are nounce Secretary $250,000 and the assets are $450,000. An assignment has been made by the Pueblo Title and Trust company to E. P. Shove, of Colorado Springs. The bank did not open today, the managers being in fear of a run. Mr. Shove, after examining the condition of the assets stated today that the Title and Trust company is perfectly solvent and can pay all demands within 30 days. The bank's deposits are about a $250,000 including the accounts of aslarge number of working men. The sets are stated to be about $450,000. WOODS MAKES STATEMENT. Victor, Colo., Nov. 5.-Frank M. Woods, general manager of the Woods folInvestment company, has made the the lowing statement of the closing of of Victor National bank of this city, which "The he strike is president: resulted in withdrawals from the bank, chiefly by men who were leaving the district, and our reserve was depleted until T. P Kane, deputy the comptroller of the currency, ordered bank closed by Bank Examiner J. B. Lazear, who is in charge. The Woods First Investment company is behind the in National and depositors will be paid with full and the mining properties which the Woods Investment company is interested will continue operations as heretofore. DUE TO MINERS' STRIKE. Washington, Nov. 5.-The First Nabank of Victor, Col., has been tional closed by direction of the acting comptroller of the currency, the examiner James reporting the bank to be insolvent. B. Lazear, national bank examiner, was has been appointed receiver. The bank organized in September, 1900. The failure, the acting comptroller by is due to losses sustained states, of excessive accommodations extended reason to mining interests with which the officers of the bank were connected. The statement of the reand liabilities of the bank on September sources 9, 1903, the date of the last of condition made to the comp- of report troller shows loans and discounts $231,742: cash and cash items, $63,514; deposits, $304,346. FARMERS RESPONSIBLE. Ia., Nov. 5.-The Sheldon bank Sheldon, closed its doors and will go into the hands of a receiver. Officers of the bank assign the cause of the failure to the slow payment of notes by farmers the past two years. RECEIVER NAMED. Ia., Nov. 5.-Judge Gaynor, on application Sibley, of the stockholders, ap- the pointed W. R. Ady receiver of State bank at Sheldon. The assets are about $225,000; liabilities about $175,000.
