Bank of Silverton (Silverton, CO)

Episode Information

Episode UID
8520525791237
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
852052579 hash
Start Date
January 2, 1903
Location
Silverton, Colorado (37.812, -107.665)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bc52599594db0bad

Response Measures

None

Description

Bank closed after president's disappearance and suicide; receiver was appointed.

Events (2)

1. January 2, 1903 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure triggered by disappearance (and subsequent death) of president James H. Robin and concerns about his borrowing and derangement.
Newspaper Excerpt
Owing to the disappearance of the president, James H. Robin, the Bank of Silverton was closed today by the cashier, A. H. Runde.
Source
newspapers
2. January 3, 1903 Receivership
Newspaper Excerpt
Thomas Annear, of Silverton has been appointed receiver of the Bank of Silverton, at the request of the creditors of the bank.
Source
newspapers

Newspaper Articles (22)

Article from The Minneapolis Journal, January 3, 1903

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TOLD IN A LINE Denver-The resignation of Charles Dyer, general superintendent of the Colorado & Southern road, has been tendered. Burlington, Vt.-The crews of two engines were killed and a brakeman badly hurt in a collision at Sherburne last night. Aledo-The fate of Tona Dunlap is in the jury's hands. It is rumored that one juror has said he would "hang the girl or the jury." Zanesville, Ohio-The Ohio Fuel Supply company has just drilled a gas wel in the Homer field. with a daily capacity of 14,000,00 cubic feet. Port Townsend, Wash.-The British ship Comliebank, from Panama, reports the death from yellow fever of six of the crew during the voyage. New York-The Pressed Steel Car company will sell shares of its 7 per cent stock to employes at a discount of 8 per cent, on instalments. Frankfort, Mich.-The Ann Arbor car ferry, No. 1, was brought safely into harbor here last night, after having been ashore on the rocks at Manitou island. Santa Fe, N. M.-A proposition is on foot in favor of admitting Arizona and New Mexico as one state, with three representatives and the capital at Santa Fe. New York-Police Commissioner Greene has made 262 "plain clothes" men patrolmen and changed their precincts to break up the alleged system of blackmail. New York-General Ferdinand P. Earle died yesterday. He was at different times the proprietor of several hotels in New York, including the Normandie and the Netherlands. Wilmington, Del.-A counterfeiters' den was raided here and Biagani Malearoso, better known as Mike Ross": Sathia Malearoso, his wife, and Nicola D1 Paco, his brother-if were arrested. San Francisco-The Examiner says that E. J. Baldwin, the capitalist, admits that he is being treated for cancer under the name of E. Jackson. His physician states that the case is not serious. Silverton, Col.-Owing to the disappearance of the president, James H. Robin, the Bank of Silverton was closed. The sheriff has sent out men to search for Robin, who, it is feared, is demented. Portland, Oregon-Three hundred engineers, bollermakers, switchmen and yardmasters on the Oregon lines of the Southern Pacific have received an increase in wages ranging from 6 to 10 per cent. Louisville-Dragged from the pulpit and placed under arrest for selling whisky without a license was the fate of Rev. W. R. Cassada, the mountain evangelist of Mount Zion Baptist church, near Somerset. El Paso, Texas-Local officials of the El Paso division of the Southern Pacific were informed yestΓ©rday afternoon that an attempt would be made to hold up the pay car, and at once took measures to prevent it. North Attleboro, Mass.-The Holy Ghosters, or Holiness Advocates, have been holding a revival here and have caused intense excitement. Maud Read, 21 years old. was so overcome during the exercises that she dropped dead. New York-Mrs. Trella Evelyn White, a magazine writer. is dead. She was the wife of George Emmons White, a son of Rear Admiral Edwin White, U. S. N. Mrs. White was a Miss Foltz before her marriage two years ago. She was a California girl. Sanford University, Cal.-The appointment is announced of Dr. E. C. Franklin to the chair of organic chemistry in the Leland Stanford university, made vacant last summer by the death of Dr. G. W. Richardson. He is now professor of physical chemistry at the University of Kansas. Boston-Over 1,100 square miles of the finest timber lands in Newfoundland, running along both banks of the Exloits river, has just passed into the hands of a Boston syndicate at a purchase price of $250,000. On the property are several valuable water powers. Chicago-Judge Kohlsaat imposed a fine of $500 each on the National Telegraph News company and its officers, for violation of a temporary injunction which he issued against them last May 0 restraining them from appropriating the "ticker' news of the Western Union Telegraph company. Chicago-Frank Hadley, superintendent of the Northwestern Elevated railroad, has resigned to accept the office of general superintendent of the Interborough Rapid Transit company, which has in charge of the New York subways. He will be succeeded here by E. C. Nohe, superintendent of the engineering department of the Chicago office of the General Electric company.


Article from The Monte Vista Journal, January 3, 1903

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Thomas Annear, of Silverton has been appointed receiver of the Bank of Silverton, at the request of the creditors of the bank. This institution closed last Friday, after the disappearance of its president, James H. Robin, who was found dead Saturday morning south of the city, from a self-inflicted wound in the head.


Article from The Saint Paul Globe, January 3, 1903

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BANK CLOSED AND THE PRESIDENT IS MISSING Colorado Concern That Has Liabilities of $300,000. SILVERTON. Col., Jan. 2.-Owing to the disappearance of the president, James H. Robin, the Bank of Silverton was closed today by the cashier, A. H. Runde. The bank is capitalized for $30,000, and its liabilities are estimated at $300,000. The sheriff has sent out men to search for Robin, who, it is feared, is demented.


Article from The San Francisco Call, January 4, 1903

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BULLET ENDS BANKER'S LIFE Body of Missing Coloradan Is Found in the Woods. Cashier Closes Doors of Financial Concern to Prevent a Panic. SILVERTON, Colo., Jan. 3.-The body of James H. Robin, president and principal owner of the Bank of Silverton, which closed its doors yesterday, was found to-day in the woods three miles below town with a bullet hole through the right temple. In his right hand was still clutched the revolver with which he had ended his life. His widow and three children are in England at present. Cashier A. H. Mundee's action in closing the bank to avert a run is generally commended by the business men. Mundee to-day declined to make any statement regarding the bank's condition, except to say that he believed that the bank would be able to pay dollar for dollar if the pressure did not become too great. The bank, which is a private corporation, is said to have had deposits amounting to $150,000 or more. A report is current that Robin had borrowed large sums from the bank to carry on mining operations, He was interested in the Iowa-Tiger Silver Ledge and Camp Bird Extension mining companies.


Article from The St. Louis Republic, January 4, 1903

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MISSING BANK PRESIDENT IS FOUND DEAD, A SUICIDE. Institution at Slivertor., Colo., Is Closed. but Cashier Says Obligations will Be Paid. Silverton, Colo., Jan. 3.-The body of James H. Robin, president and principal owner of the Bank of Silverton, which closed its doors yesterday on account of his disappearance, was found to-day, three miles below town, with a bullet hole through the right temple. In his right hand was still clutched the revolver with which he had ended his life. His wife and three children are in England. Cashier A. H. Munde's action in closing the bank to avoid a run is generally commended by the business men. Munde to-day declined to make any statement regarding the bank's condition except to say that he believed that the bank would be able to pay dollar for dollar if the pressure does not become too great. The bank. which is a private corporation, is said to have deposits amounting to $150,000 or more, and a report is current that Robin had borrowed large sums from the bank to carry on mining operations. He was interested in the Iowa-Tiger, Silver Ledge and Camp Bird Extension mining companies.


Article from The News & Observer, January 4, 1903

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BANK PRESIDENT A SUICIDE. The Bank Closes and the Shooting of the Offical Follows. (By the Associated Press.) Silverton, Colo, Jan. 3.-The body of Jas. H. Robin, president and principal owner of the Bank of Silverton, which closed its doors yesterday, was found today three miles below town, with a bullet hole through the right temple. In his right hand was still clutched the revolver with which he had ended his life. His wife and three children are in England at present. Cashier Mundes action in closing the bank to avoid a run is generally commended by the business men. Mr. Munde declined to make any statement regarding the bank's condition except to say that he believed that the bank would be able to pay dollar for dollar if the pressure does not become too great. The bank, which was a private corporation, is said to have had deposits amounting to $150,000 or more, and a report is current that Robin had borrowed large sums from the bank to carry on mining operations. He was interested in the Iowa Tiger silver ledge and the Camp Bird extension mining companys.


Article from Omaha Daily Bee, January 5, 1903

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Receiver for Silverton Bank. DENVER, Jan. 4.-A special to the News says that Thomas Ancear has been appointed receiver of the Bank of Silverton at Silverton, Colo., which closed its doors Friday after the disappearance of its president, J. H. Robin. who committed suicide. One committee appointed to examine into the affairs of the bank is credited with saying the depositors will be paid in full.


Article from The Kalispell Bee, January 6, 1903

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Receiver for Colorado Bank. Denver, Jan. 5.-Thomas Annear has been appointed receiver of the Bank of Silverton, which closed its doors shortly after the disappearance of its president, J. H. Robin. who later was found dead near that place.


Article from The Semi-Weekly Messenger, January 6, 1903

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ROBIN'S DEAD BODY FOUND President of Bank of Silverton Ends His Own Life. Silverton, Colo., January 3.-The body of James H. Robin, president and principal owner of the Bank of Silverton, which closed its doors yesterday, was found today three miles below town, with a bullet hole through the right temple. In his right hand wa3 still clutched the revolver with which he had ended his life. His wife and three children are in England at present. Cashier Munde's action in closing the bank to avoid a run is generally commended by the business men. Mr. Munde today declined to make any statement regarding the bank's condition, except to say that he believed that the bank would be able to pay dollar for dollar if the pressure does not become too great. The bank which is a private corporation is said to have had deposits amounting to $150,000 or more, and a report is current that Robin had borrowed large sums from the bank to carry on mining operations. He was interested in the Iowa, Tiger, Silver Ledge and Camp Bird extension mining companies.


Article from The Lamar Register, January 7, 1903

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Denver, Jan. 4.-A Republican special from Silverton yesterday says: At 7 o'clock this morning the body of James H. Robin, president of the Bank of Silverton, was discovered by the train crew of the early freight from Durango, when it stopped for water at the tank, three miles south of Silverton. It was lying on the bank not far from the track, with a bullet hole in the temple. A 41-caliber revolver, the property of Cashier Mundee of the bank, which had been missed since Mr. Robin disappeared Thursday night, was still clutched in the right hand. The train crew came to Silverton and notified Acting Coroner W. D. Watson. who brought the body here and held an inquest. The jury returned a verdict that Mr. Robin committed suicide. B. B. Galvin, the bank cashier who represented depositors in an examination of the books of the bank of Silverton, as well as Cashier and Secretary Mundee, announced to-night that depositors will be paid dollar for dollar. Deposits amount to approximately $160,000. and of this amount, it is announced. eighty per cent. can be paid on demand from the cash available. It is expected that a receiver will be appointed and the bank reopened immediately.


Article from The Lamar Register, January 7, 1903

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BANK OF SILVERTON CLOSED AND PRESIDENT MISSING county treasurer, had $7,000 on deposit, Denver, Jan. 3.-A News special but secured by the American Trust from Silverton last night says: Company of Denver. There are at "J. H. Robin is missing and the bank is closed." A. H. Mundee, cashier of least 1,000 small creditors having from $100 to 1,000 on deposit. It is the opinthe Bank of Silverton, pasted this noion of the heaviest creditors who are tice on the door of the bank this mornbest informed that the assets will more ing. The Bank of Silverton, of which than cover all liabilities in case PresiJ. H. Robin is president and A. H. dent Robin has absconded. Robin carMundee, cashier, closed its doors this ried some $60,000 or $70,000 life insurmorning under circumstances peculiar ance in favor of his wife, who is vice and distressing. Liabilities are reportpresident of the bank. This will beed at $300,000, assets unknown. The come available in case of suicide. Mr. town was thrown into intense excitement and soon a crowd surrounded the Robin is a heavy stockholder in the Iowa-Tiger mine here and principal bank and requested that Cashier Munstockholder in the Camp Bird Extendee refund their money, threatening sion mine in Ouray county, besides vengeance in many ways. Cashier many other profitable enterprises in Mundee made the following statement: this part of the state. "Since last evening about 7 o'clock Mr. Robin has not been seen and as his The Silverton Bank is a private corporation, with J. H. Robin as presiapartments have not been occupied and no trace can be found of him his dent; Mrs. J. H. Robin, vice president, action caused me to think he has beand A. H. Mundee, cashier. It has been doing a banking business here for the come deranged or has probably compast ten years. The catastrophe will mitted suicide. I hope neither is a fact, not cripple any of the business firms but owing to his strange actions the or cause the suspension of any work past week and my position in the or the closing of any mines, but will bank I closed the doors, awaiting dework a hardship upon the many small velopments." creditors, such as miners and mechanMr. Mundee is exonerated from any ics, who are now idle awaiting the knowledge of any possible dishonesty opening of work in the spring. This by the creditors. At his request a is the second failure of this bank. It meeting of the creditors present is bewas forced to close its doors during ing held for the purpose of appointing a committee of three to examine the the panic of 1892. but friends of the management and Mr. Robin's luck in books and count the money in the vault. which Mr. Mundee states was striking ore in the Iowa-Tiger a few days after the closing occurred pulled not disturbed to his knowledge when him through and ever since it has been he opened the bank this morning. considered very substantial. Mrs. Nellie Tully Cunningham,


Article from Belding Banner, January 8, 1903

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Nine hours instead of ten hereafter will be considered a working day in all of the iron works of Portland, Ore., without any reduction of wages. James H. Robin, president and principal stockholder of the bank of Silverton, Colo., has disappeared and the bank is closed. Its capitalization is $30,000, liabilities $300,000. Unless union men are employed by the contractors now making alterations in New York's city hall. all union men employed on city work will be called out, tying up work on the new East river bridge. the new hall of records and all the new school houses. A stereopticon gas tank exploded during a Christmas entertainment at the French Evangelica] M. E. church at Chicago. People were hurled from their seats and Louis Compondu, Mrs. Mary Linder and Peter Linder were seriously injured. Many others were badly bruised. A wild panic followed the explosion, men, women and children fighting to get out of the building.


Article from The Elbert County Tribune, January 8, 1903

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SUICIDE OF PRESIDENT ROBIN OF THE BANK OF SILVERTON Denver, Jan. 4.-A Republican speThe only opinion entertained tonight is that Mr. Robin was insane. cial from Silverton yesterday says: Cause for his derangement is not apAt 7 o'clock this morning the body parent, unless it be ascribed to worry of James H. Robin, president of the over expenses of the past year, with Bank of Silverton, was discovered by reduction of income. and as a climax, the train crew of the early freight failure to carry out the financial from Durango, when it stopped for wascheme to which he had devoted his ter at the tank, three miles south of whole energy. Silverton. It was lying on the bank The venture in which Mr. Robin was not far from the track, with a bullet wrapped up was the development and hole in the temple. A 41-caliber resale of his Silver Ledge mine to the volver, the property of Cashier MunGuggenheim syndicate. During the dee of the bank, which had been past year Mr. Robin had spent $70,000, missed since Mr. Robin disappeared practically all his available cash, in Thursday night, was still clutched in the erection of a mill and extensive dethe right hand. velopment of the Silver Ledge, which The train crew came to Silverton he counted his largest asset. His plan and notified Acting Coroner W. D. was to make a great showing and efWatson, who brought the body here fect a sale to the Guggenheims. This and held an inquest. The jury retransfer was thought to have been arturned a verdict that Mr. Robin comranged, when the prospective purchasmitted suicide. ers sent an engineer to make a final B. B. Galvin, the bank cashier who report. This is said to have been adrepresented depositors in an examinaverse and negotiations were terminattion of the books of the bank of Silvered. ton, as well as Cashier and Secretary The Silver Ledge mill began operaMundee, announced to-night that detions to-day upon the vast ore reserves positors will be paid dollar for dollar. of the mine. The mill cost $40,000 and Deposits amount to approximately it is estimated that the ore in sight is $160,000. and of this amount, it is ansufficient to keep it running for years. nounced, eighty per cent. can be paid Conservative mining men rate the on demand from the cash available. property as the most valuable asset of It is expected that a receiver will be the Robin estate. Though the profit appointed and the bank reopened imwill not be large, it is considered a mediately. sure money maker.


Article from The Grit-Advocate, January 9, 1903

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Denver. Jan. 4.-A Republican special from Silverton yesterday says: At 7 o'clock this morning the body of James H. Robin, president of the Bank of Silverton, was discovered by the train crew of the early freight from Durango, when it stopped for water at the tank, three miles south of Silverton. It was lying on the bank not far from the track, with a bullet hole in the temple. A 41-caliber revolver, the property of Cashier Mundee of the bank. which had been missed since Mr. Robin disappeared Thursday night, was still clutched in the right hand. The train crew came to Silverton and notified Acting Coroner W. D. Watson. who brought the body here and held an inquest. The jury returned a verdict that Mr. Robin committed suicide. B. B. Galvin, the bank cashier who represented depositors in an examination of the books of the bank of Silverton. as well as Cashier and Secretary Mundee, announced to-night that depositors will be paid dollar for dollar. Deposits amount to approximately $160,000. and of this amount, it is announced, eighty per cent. can be paid on demand from the cash available. It is expected that a receiver will be appointed and the bank reopened immediately.


Article from The Holly Chieftain, January 9, 1903

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Denver, Jan. 4.-A Republican special from Silverton yesterday says: At 7 o'clock this morning the body of James H. Robin, president of the Bank of Silverton. was discovered by the train crew of the early freight from Durango, when it stopped for water at the tank. three miles south of Silverton. It was lying on the bank not far from the track, with a bullet hole in the temple. A 41-caliber revolver, the property of Cashier Mundee of the bank, which had been missed since Mr. Robin disappeared Thursday night, was still clutched in the right hand. The train crew came to Silverton and notified Acting Coroner W. D. Watson. who brought the body here and held an inquest. The jury returned a verdict that Mr. Robin committed suicide. B. B. Galvin, the bank cashier who represented depositors in an examination of the books of the bank of Silverton, as well as Cashier and Secretary Mundee, announced to-night that depositors will be paid dollar for dollar. Deposits amount to approximately $160,000. and of this amount, it is announced, eighty per cent. can be paid on demand from the cash available. It is expected that a receiver will be appointed and the bank reopened immediately.


Article from The Yale Expositor, January 9, 1903

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Nine hours Instead of ten hereafter will be considered a working day In all of the Iron works of Portland, Ore., without any reduction of wages. James H. Robin, president and principal stockholder of the bank of Silverton, Colo., has disappeared and the bank is closed. Its capitalization is $30,000, liabilities $300,000. Unless union men are employed by the contractors now making alterations in New York's city hall. all union men employed on city work will be called out. tying up work on the new East river bridge. the new hall of records and all the new school houses. A stereopticon gas tank exploded during a Christmas entertainment at the French Evangelleal M. E. church at Chicago. People were hurled from their seats and Louis Compondu. Mrs. Mary Linder and Peter Linder were seriously Injured. Many others were badly bruised. A wild panie followed the explosion, men, women and children fighting to get out of the building.


Article from The Delta Independent, January 9, 1903

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Denver, Jan. 4-A Republican special from Silverton yesterday says: At 7 o'clock this morning the body of James H. Robin, president of the Bank of Silverton, was discovered by the train crew of the early freight from Durango, when it stopped for.water at the tank, three miles south of Silverton. It was lying on the bank not far from the track, with a bullet hole in the temple. A 41-caliber revolver, the property of Cashier Mundee of the bank, which had been missed since Mr. Robin disappeared Thursday night, was still clutched in the right hand. The train crew came to Silverton and notified Acting Coroner W. D. Watson. who brought the body here and held an inquest. The jury returned a verdict that Mr. Robin committed suicide. B. B. Galvin, the bank cashier who represented depositors in an examination of the books of the bank of Silverton, as well as Cashier and Secretary Mundee, announced to-night that depositors will be paid dollar for dollar. Deposits amount to approximately $160,000. and of this amount, it is announced, eighty per cent. can be paid on demand from the cash available. It is expected that a receiver will be appointed and the bank reopened immediately.


Article from The Meeker Herald, January 10, 1903

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Deaver, Jan. L-A Republican special from Silverton yesterday says: At 7 o'clock this morning the body of James H. Robin, president of the Bank of Silverton. was discovered by the train crew of the early freight from Durango. when it stopped for water at the tank, three miles south of Stiverton. It was lying or the tank not far from the track, with a builet hole in the temple. A .41-caliber revolver, the property of Cashier Musdee of the bank. which had been missed since Mr. Retin disappeared Thursday night, was still clatched in the right hand. The train crew came to Silverton and notified Acting Coroner W. D. Watson. who brought the body here and held an inquest. The jury returned a verdict that Mr. Robin committed suicide. B. B. Galvia. the bank cashier who represented depositors in an examination of the books of the bank of Silverton, as well M Cashier and Secretary Mundee, assounced to-night that de positors' will be paid dollar for dollar. Deposits amount to approximately $160,000, and of this amount, it is announced, eighty per cent. can be paid on demand from the cash available. It is expected that a receiver will be appointed and the bank reopened immediately.


Article from Durango Semi-Weekly Herald, January 26, 1903

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RECEIVER'S STATEMENT. Something that depositors and other creditors of the Bank of Silverton have longingly looked for since that eventful day, January 2, 1903. This afternoon (Friday) Receiver Thomas Annear filed his statement with the clerk of the district court, of the Bank of Silverton, which closed Its doors January 2, last, and 18 here. with given in its summary: Assets.


Article from Durango Semi-Weekly Herald, January 26, 1903

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From Friday's Daily, Sheriff J. O. Smith is here from Ignacio. Mrs. S. R. Orr and Mrs. A. C. Myers left this morning for a visit to Denver. Postmaster Biggs returned yesterday from his two weeks 'absence in Denver. Mrs. J. Ball was brought in from Mancos yesterday and taken to Mercy hospital for treatment. Commissioners' court convened again this morning, and have been busy with the registration lists. Judge Pike has appointed Judge B. F. Houx as public administrator for the estate of Daniel J. McCaffrey, deceased. Charles Mason, formerly a subject of Great Britain, took out final naturalization papers before Judge Pike today. County commissioners meet again next Thursday to have a final roundup of excuses from voters who were registered but failed to vote. Last chance. Miss Benfey, who will be at the Presbyterian church January 24, has given a season in London, reciting at Stafford House before the Princess Christian and others of the nobility. A late telephone from the hospital reports that Harry V. Ausburn, the Mancos editor, is getting along nicely. There are 22 patients now at the rospital, and all are doing as well as could be expected. Word comes from Silverton that Thomas Annear, receiver of the Bank of Silverton, has his report ready for Judge Russell's approval. The latter is now at Pagosa Springs holding court but will probably be back in a day or two. Private Information has been re. ceived in Durango that the action against State Chairman Fairley has been withdrawn, and that be will be supported by a united party. This news will be received with great satis. faction by thousands of loyal Republicans throughout the state. Madame Fagerland of the millinery department. Madame Wade of the dressmaking department. and Messrs. R. F. Sloane and Gus Roberts, of the dry goods department of the Graden Mercantile company, will leave about the first of February for Chicago, New York and other eastern cities, to buy goods and study the latest styles for the benefit of the patrons of their upto-date establishment. The train from the east, due here at 4 o'clock yesterday afternoon. arrived at 5 o'clock this merning., thirteen hours late. The cause of the delay was a big freight wreck at It Creek, a short distance this side of Pueblo One freight tried to make a siding, but didn't quite get there. and another freight came along and ran into the first one, completely wrecking an engine and a caboose and burning them


Article from The Delta Independent, February 13, 1903

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News of the Neighborhood From the Telluride Journal. have been accustomed to the eating Telluride is about the only townin one? Proper distribution of the fr Southern Colorado without a woman's will double or qudruple the consumpti club. end the more the people eat of it t Well, anyhow; Colorado's climate in more they will want the next seas winter has one virtue: There is nothing There are 100 peaches eaten now who monotonous about it. half a dozen were eten twenty-five ye: Pueblo offers $7,500 in purses for its ago and still the people do not ha June race meet. Some of the purses enough. When a good market ope are the most liberal ever offered in all the Elbertas rush there, while hi Colorado. dreds of smaller markets are ba The statement of the receiver of the Properly distributed there is no dang Bank of Silverion shows liabilities in of overproduction. excess of estimated assets to the amount From the Paonia Gazette, of $101,231.79. Frank Lambertson and L. P. B The record of twenty-five years is that closed a contract with the local te the heviest storms by far come after the phone company to deliver five hundr middle of February. There will be an abundance of water next spring. poles for their use and will begin once. A bill granting John R. Curry, of L. W. Heston purchased 35 acres Silverton, pioneer newspaper man of the orchard and hay land off the west h San Juan, a pension of $30 per month, has passed both houses of Congress. of. R. W. and F. D. Curtis places t Mr. Curry is blind as a result of injuries week for $8,000. Fry & Grabam ma the sale. received in the war. News of the arrival at the home of C.E. Price, who lately sold his pla Elmer Thompson, at present D. & R.G. for $8,000. has left for a new range British Columbia. Mr. Price is a m station agent at Delta, of a little daugh. ter. The numerous Telluride friends of energetic action, with a heart in t right place and will make friends whe of the young couple extend congratulations. ever he goes. We hope the same pro perity will attend him in his sojourn Mrs. Lillian Hartman Johnson, a the northwest. Durango authoress of considerable Speaking of snow, Paonia has mc merit, has produced a play which it is than it bas seen for many years. Sleig said is being prepared for the stage by a New York dramatic concern. The ing is fine and the hills are packed wi a store of water for our use next sui play is reported to have not a little merit. mer. The whole western slope see to be blanketed with snow, Grand Jui Alme giving is in the main mischievition having her share also. All of whi ous, disseminating pauperism and iobrings joy to the inhabitante of t terfering with the benignant surgery of valleys, as it delivers them from a rej nature which cuts off the unfit to imtition of last year's experience-a sho prove the race. With intelligent breedage of water. ing, such as farmers apply to cows and pigs, what an improved race we might From the Ouray Herald. have. It is reported that hundreds of pi


Article from Durango Semi-Weekly Herald, January 21, 1904

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can Bonding company to have 11.8 claim of $10,000 declared to be prior to all other debts of the bank on the ground that by paying up the bank debt to the state treasurer it would succeed to all the rights of the state of Colorado, and was therefore entitled to priority of payment. The Ciestion was argued in the forenool by B. W. Ritter on behalf of the surety company, and was argued in the af ternoon by W. N. Searcy on behalf of the general creditors of the bank. Jadge Russell, in his decision, decided that the American Bonding compan was not entitled to any preference it the payment of its $10,000 claim for the reason that the plaintiff's suit had been brought in such a manner as to sequester and to hold for the benefit of all the creditors generally, all the property of the bank, and that there fore the alleged priority of the state of Colorado could not be made effectual. In the evening the court took up the receiver's new report and the matter of paying compensation to the receiver and his attorney. and of paying dividends to the creditors; and also ruled upon the question of the last day's business of the bank, Upon the question of the last day's business the court ruled that checks upon the Bank of Silverton deposited that day. did not constitute a preferred claim. for the reason that such checks did not add anything to the funds of the bank, and if the persons depositing such checks were allowed to be paid in full it would be simply taking one man's money to pay another. As to the cash deposited in the Bank of Silverton on the last day, the court held that, as it was shown that the bank officials had in fact paid out all of the cash received by them on the day the bank clased, on the checks of other persons presented for payment upon such day, it could not be held that the money deposited on the last day ever passed into the hands of the receiver This ruling appears to be fair for the reason that only about $800 in cash was received by the bank on the day it closed, while at least $1000 was actually paid out. As to the checks upon other banks deposited in the Bank of Silverton on the day it closed, the court held that since the said checks had not been collected or cashed at the time the receiver took hold of the bank, but were afterwards collected by the receiver himself, the Atle had never passed to the bank, and that the proceeds of those checks must be returned. Upon the presentation of the receiver, the court allowed the receiver a salary of $2500 for one full year's work, and allowed to his attorney, Benj. B. Russell, the sum of $1200 for one year's work. This was the full amount requested by the receiver and his attorney. The court also ordered at a fee of $600 be allowed to W. N. Searcy for services rendered in the case for the benefit of the estate generally. After paying all preferred claims and paying all expenses of administration of the estate up to date it was found that a first dividend of nearly 13 per cent could be paid to the creditors. And on account of the work of the receiver in saving a margin out of the Denver property, and in discovering notes and other property belong ing to the bank of which there was no record whatever in the bank, it is now estimated that the final dividend may be as large if not considerably larger than the first dividend, but as the final dividend has to be made out it will take a of time to sell length et property and considerable dispose 01 the notes, stock, town lots and mining property which constitute the balance of the bank's estate.