The herald., 1893-07-21
THE DENVER PANIC ENDED
No Further Bank Failures
Expected.
Banks in Outside Cities Now
COllapsing.
Thousands of Idle Men in the Silver
Producing States.
Hard Times Beginning to Be Felt In
New England as Well as the
West-ComptrolIer Ecke1ss
Insulting Speech.
Rv the Associated Press.

By the Associated Press.
DENVER. July 20.-There will be NO
more bank failures here now. The
panic wore itself out yesterday. Scarcely
dozen depositors were at the paving
tellers' windows Of the unsuspended
banks at the opening this morning,
while at the receiving teilera' windows
were several strings OF dspositors, reach-
ing nearly to the street and the money
was going back into the bank vaults al
most as fast as it went out the past
three days. There may be few COM
mercial failures the next few dsys az the
result OF the bank failures, but it is be.
lieved no bad ones.
1t is stated the Mcnamara dry goods
house, which failed Monday, has settled
with It's principal creditors, and will
resume next Monday.
The Flanders dry goods house was at
tached this morning. Its assets are es-
timated at 5000, 900; liabilities, $120, 900.
OUTSIDE BANK FAILURES.
The banking house of ]. B. Wheeler
& Go. at Colorado City and Manitou,
whose branch atAspen closed yerterday,
failed to open doors this morning. The
assets and liabilities of the Colorado
City institution are not known. The
assets of the Manitou bank are $114,-
900 and liabilities $4,000.
At Caf1on City, the First National
houE diI mot nnon khio ruorpinn opd
notice was posted on the window that
owing to the temporary embarrassment
of the Colorado correspondents of the
bank, strain in resources and inability
to furnish ready currency, the bank
directors had decided to suspend pay
ments. The assets are ample to more
than meet the liabilities.
At Grand, Junction the First National
bank closedits doors this morning, not
being able to realize on securities. The
following notice was displayed: "Pay.
mant Suspended. The people owe us
5000. Our cash, bonds, securities
and real estate is 1888, 600; total assets
$1OS, 900. We owe the people $50, 900;
net assets $4,000. No depositor will
lose cent. We will reopen as soon az
we can realize ON our securities"
THE PANIC STRIKES CHEYENNE.
At Cheyenne, Wyo., the private bank
ing house of T. A. Kent failed to open
this morning. Most OF the deposits were
time claims, and but few business
houses were affected. A statement ia
unobtainable. Following the failure of
the Kent banking house, the First Ma
tional suspended at 2:40, owing to
heavy run. J. W. Foster was appointed
bank examiner and has taken charge.
The aesests are $7S0,000, and liabilities,
$525, 900.
Several attachments were issued this
evening against Denver business houses,
the principal being the Roberts Hard
ware company and the Livermore &
Mayne Lumber company. The sums In
any instance do not exceed $250OO.
EcKLEs PROMISES ASSISTANCE.
WASHINGTON, July 20.-Comptroller
Eckels sent a dispatch to the National
bank examiner in Denver today in
which he says: "I wish you would an.
nounce to the officers of the banks
which have failed in Denver that it is my
intent tion to lend them every aid possible
looking towards speedy resumption on
their part, and that shall grant them
sufficient time to enable them TO collect
such amounts as are speedily colecta-
BILE, but get together such amounts as
will enable them to open on email
basis"
The comptroller advises the citizens
who have foolishly brought about the
crisis by withdrawing funds to do the
best they can toward repairing the
damage By redepositing. He authorizes
the examiner to employ assistants
in collecting money to the end
in view, and ordered Examiner
McHugh of Iowa to assist him. Spec
ing of the matter, he said the failures
are not the fault of the bank officials,
but foolish lack OF confidence on tho
part of the depositors. In all such caHaH
he would help the failed banks to ~
sumo.
CoLoRADo's IDLE LADoRERs.
DENVER, July 20.-The closing down
of the silver mines, smelters, reduction
works, coal mines, railways and factories
has put the laboring classes in q deplor
able condition. II ia estimated that
10. 900 idle men are in Denver and
10000 in the outside towns, hall Of
whom are working thcir way here to be-
come public charges. To avoid this the
commercial bodies will ask the railroads.
to make $5 rate to tho Missouri river
for this class. in expectation that
thev may bs able to get work on farms.
It is estimated that Colorado. Utah,
Montana and New Mexico have counter-
manded orders for goods in New York
amounting to over $l2,000,O00.
FREE TRANSPORTATION FURNISHED.
OMAHA, July 20.--In connection with
dispatch from Denver city today say
ing citizens' com mmittee would en-
deavor to induce the railroads to get .
large number of idle men. now in Colo
rado east to the agricultural regionr.
an interesting dispatch came
tonight from Hastings, where rs
men took possession Of the Burlington
freight train, saying they were from
Denver and wanted to get east. When
the superintendent was notified lie di-
rectcd the night yardmaster at Lincoln
to make up special train Of empty box