New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-18
WESTERN BANK FAILURES
THREE SAVINGS BANKS ASSIGN SIMULTANE
OCcLY N DENVER.
TWO MORE FAILURES REPORTED IN KANSAS

TWO MORE FAILURES REPORTED IN KANSAS
CIrY-TRouBLEs AT OTHER POINTS.
| Denver Julv 1.-THE first bank failure In Denver
since 1874 occurred this morning, when tne feop'
| savings Bank the Colorado SAVING ana lhe hoeh!
Mountain Dime and Dollar savings banks c'oS''
I their doors. An estimate of the JOINT assets Il
IL 100000 and Of liabilities Sl,31ooOj. The coo
RADIO savings Bank, OF which F. T. Atkins i pr'siu'h'
and c. O. Atkins cashier, in lis statement TO te
assignee Alfred Buffers places the open accounts
due deposiiors at Sl35lOS "a ccrthcates OF deposit
$500 SO: due other banks, So" 30 cashier
checks 500 The assets over liabilities In what Is
declared u bc good commercial paper well secured
$4,000 80.
FW. Woodbury. is president and C. F. Clark is cash
Ter OF the Rocky Mountain Dime and Dollar savings
Bank, Of which Charles II. Bakeny was this morning
made assignee A detailed statement has not yet
been made but from the books OF the Institution II
would appear that the assets $l56SO3 % ana the
al ics $Oj.654 81. The officers of the institution
positively assert that the deposors will not lose
dollar. II is understood that all the assignments
were preconcered and were made for the protection
of the dcpositors The direct cause Of the failures
was the universal Inability 10 realize securities
The presidents Of the three banks declare that each
depositor will he paid in full and that all three nsti-
tuons will resume again.
run on the Denver savings Bank Is impending
and the bank is taking advantage Of the thirty and
SILKY -uilS HouuCdtloH anu 10 pdshb ""' Ho
amounts over $25.
President Lawrence, OF the Peoples Savings Bark,
In "A statement this morning said that the savings
bank up to six weeks ago had had most successful
career, having received In deposits II 100000 and
paid 10 deposOrs in interest $l12.4s2. The run on
II began May l and continued up to last saturday
night, when the entire available means Of The bank
exhausted, and nothing WAS left but to assign.
The officers Of the institution pledged their estates TO
it's support but BECAUSE Of the feeling that has been
engendered among Eastern banks and financial nSt-
NIuons py the recently published expressions. ana
the demonstrations that have been hcraldcd from
Colorado. thirty days notice to raise 10000, signed
by Colorado people worth SiOOO,oOO, was not "Orh
the paper IL written on.
Most persistent efforts were made said President
Lawrence, to obtain temporary assistance TO tide
the bank and up TO four days ago this necessary
assistance promised by Eastern correspondent
hanks, hut since the dOngs Of the recent convention
this city became known all over the country these
promises cancelled by telegraph, and no aerna
tive was left us-with notices amounting to nearly
5000 900 for Withdrawals OF deposits maturing within
the near future staring In the face and the cash
on hand paid down 10 S-23-but to make iuil AS
signment for the protection and benefit OF all Inc
failure In the savings bank will In no way affect
the People, National Bank which. with all the other
National banks here, are perfectly sOuhu AKA dh''i
pate NO trouble
Kansas City, Mo-, July 17.-De,ptc assertions
of strength and the publication Of a favorable state
ment on saturday the Missouri National Bank was
taken possession Of BY The Controller of the Currency
shortly before noon to-day.
The officers show the assets to be Sl@1i''So' ana
the liabilities excepting capital STOCK about 800, 900.
During the run on the different National banks here
on saturday the Missouri National suffered some
what, though the Withdrawals were made by small
depositors chiefly. Thi, morning. however, several
large dspostOrs withdrew their money, the amounts
running well up into the thousands and these with
diawals made continuance Impossible. For "hiIc
confidence Vas restored by Ferdinand Helm, local
brewer deposlting 3d. 900 in the concern, but this
incident soon lost It's effect. Aid bad been asked
from the Third National Bank Of Newlork City
and assistance the WY. ON July TIE
bank paid the regular annual dividend OF . per cent.
The officers declare that deposit IS will be paid
dollar for dollar. The Missouri National Is n new
bank having opened In January, 1871. 1t has
capital stock, paid In, of s25o'ooo' and Its surplus
IS $4,000 According 10 the statement made
saturday, issued in compliance with the
request Of the Controller Of the Cur
rency. cash and sight exchange were placed at
S27l ,024, and the deposits at e0O0,763 The Officers
are ID. V. Reger, president Henry c. kumpi, vice
president X. ID. COvingon, cashier.
The Grand Avenue Bank, private institution, as
signed this morning to James b. Ricke who nlme-
da,ey took charge. The assets are put at about
500 900, and liabilities at 100000. The Grand
Avenue Bank holds ample securities to meet obliga-
lions it is claimed and the officials say that they
expect resume business shortly. II WAS ruinOrcd
on Saturday that this clos ed. but 1t appears
that the officials secured money sufficient to tide them
over till to-day. when IL hoped that some Of their
securities could be realized IN account OF the
scarcity OF money, however, realization was found
impossible. Confidence In the ability OF the bank TO
pay dollar for dollar is expressed by other bankers
here and no excitement the temporary suspension
rauch vice president aE II. c. Lambert. cashier Of
the bank.
THE Stars special from Topeka, Kansas, says
state Bank Examiner Breidenthal reports that Hood
d. kncaid's bank Of Plca,entOn, Kansas. has failed
and is in the hands of Deputy Bank Commissioner
Osborne. The capital stock is 10000. No state
ment is given. Commissioner Brcidcntha has infcrna
ton Of number Of other bank failures in the state
but he declines to give names until he has taken
possession.
Chicago, July lit IS not yet known where Conrad
NichOn Of the defnct banking house Il {. l.. NichOh
Co.. and his two sons, Frank J. and otto. The
but at last accounts lad learned nothing than
that Mr.. Niehcif caring for his impaired health
AT some summer resort 4 meeting OF creditors was
held yesterday. Adam kastler, chairman of the In
vcsgaDg Committee, reported that the affair, Of TINS
bank We're In a dsDrdered state and that il was inn
possible to give clear presentation 81 them. Enough
was known. however. TO indicate liabilities Of $lGO-
600 while the assets scarcely exceed $4,000.
Washington, July little Controller OF the Cur.
rency has been informed that the First National Bank
Of Ccdar1Own, Ga. and the Missouri National Bank
OF Kansas City, Mo-. closed their doors today.
PUBLIC SENTIMENT on SILVER IN MICHIGAN.