The sun., 1893-07-20
RANK DOORS STILL CLOSING.
,ysEE MORE NATIONAL BANKS GO
UNDER IN DENVER.


Meet All Demaud.--seve-ai Large and
A.. score of Small Bus,nesr Failures.
DENVER, July 10.-Three more national
hanks closed their doors In this city today as
a rssult OF the money panic and continued
.rns which began on Monday. The German
National Bank and the State National Bank
,,Isd to open their doors at the usual hour.
nostIng notices to the effect that they had gone
i,to the hands Of tho Com ptroller. Tho Peo-
MAS National closed at IL o'clock. when It was
,.cn that 1t would be impossible to meet tho
continued run that was In progrcss. The
Peoples Bank WAS the handmaiden OF the
ssople's bavings. one OF tho three savings
hanks which suspended on Monday.
Before tho time for opening great crowds Of
d.positors stood in front OF the various banks.
That In front Of the German National was tho
rrsatest. When the notices wore posted in the
two banks which failed to open there was no
demonstration. but o great deal OF hard talk.
large force OF police worked to keep the
crowds moving. and when 1t was seen that the
notices tended to concentrate the crowd they
yere torn down. On the door OF the German
National appeared the following notice:
owing to the inability OF tho bank to realize imms-
dn,sly upon its assets. 10 has been decided BY the
Board OF Directors to close the sama
The notice on the door OF the State National
Bank. which attracted q jostllng crowd. said:
owing inability to provide funds rapidly enough
10 meet the extraordinary run this bank, II has
been decided to suspend temporarily. The bank Is not
insolvsnt aud there is money for everybody.
Directly across the way from the two closed
banks the crowd OF tho First National did not
number 80 many frightened dopositors as
Yesterday. The rush ended at noon at the
Neat Ma tion al and fha other hanka eYDari-
enced NO trouble
Charles NJ. Clinton, Cashier OF the German
National. made the following statement:
During tho past three months We have lost
over $l,OOO.0 900 OF deposits cons eQuent upon
the existing condition Of things Our policy
has always been liberal one toward our Gus
TONER'S We have never pressed borrow ers.
but have collected In money as fast as we
could to meet the continued drain. We have
avoided shutting our customers up. and 1t
proved disastrous to ourselves. Yesterday we
issued our first attachment on a large loan.
and did 1t to make 1t as secure as possible.
The assets Of the bank I consider good. and
will pay every cent due custom ers. although
II IL going to take some time to realize on our
securties"
Tho loans OF the bank outstanding are
sl.80o.O0O. The assets are given as $2.20O.-
600 The liabilities are S1.350.0O0. There 10
100000 In open accounts.
Tho State National was unable to give out q
detailed statement. The withdrawal OF de-
posits has been heavy for several months. cul-
minating In run yesterday which forced q
msnt OF the bank publishe ed on Monday shows
deposits to .hs AMOUNT Ct S775o!i with cur.
esss ems
demands. Other assets. lsFge g value. bHt
protect the depositors from loss
Lswrence na the ksoples Bank
assIsss to try to Keen open in the The present state
If. Ssisssi Sny Ssss SSS {5s sls::;
is sns y
N ihe
state National stood worry high In the estima-
tEaI ;On q nansal men in the Clearing House for
Ii. 0ef Col oIsde National. the City National
the American. the Donvor. and the First are
Fanf %Gans Srraed from
pusplo last night. and to-day took charge Of
H. sSshS Il ehs Tx se s bs Ss isf anp.
would al realize more than enough to meet all
,Mr. Adams for two weeks past has been in
charge Of the three national banks which went
70 the wall In Pueblo He found those banks
eOndpn and said would
tho present panic In Denver.
A result of the closing OF the Denver
lsSass s%Sss ns TIE state law not
Maple nTures can be obtaiued.
Company ass sned to j. ". sayre. as direct
assets are 8 to against the liabilities
:, The Blake Lumber Company assigned to |
i.mIit iEmmmit Annis, as result OF tho same banks
The Monat Lumber and Investment Com
pany failed also. The suspension. 1t is said,
levied by one Of the banks, The liabilities Of |
and 'Sssgany ssy5 are fh Paesd az 6s{wesn
about s6Soo more The asssts
about sso0.0o0. Of this amount Sl35. 600 is |
s,nst cue from bills. hook accounts contracts and
uasts Ts an and continue business.
.,dl,. dhe peSpie's Coal Company. with capital
sss to fhn frs snd
Hfr Th.,rasn ,anas are tied up In the DenvsF
u, lon and this evening the pig DRY, goods house
II H., fa9ders WAS attached for S24OOOO by the
Sig failure. Efforts are being made to- night.
he%Teyer. to settle that.
al. Inc banks will not all resume eventually:
s;sonildence, IS expressed in the character and
Intssri,y y. Of all ne bankers and the failures
President Jeffrey OF tho Denver and Rio
Snsnue snaiNue was asked for his opinion Of railroad
aaMniIs MMiIs In the State. He said:
ihs decrease OF earnings ON the Denver
snu sn MO Gfande has been about what we had
anticipated Ni for tho first two or three weeks i'm
.neulaleiy following the action taken by the
ss"re SsSrter and mining men In closing down. The
isssyast is. , losses and seyerest blows have been
rsIeyIsh s within thirty days following the meeti4e
HHuched bottom, and any change must be for
hhs bctter II Is not probable. however, that
mere mere VIII be any material advance from the
present rn,,. depressed eonditi9p In business
sssss sossOt meets; zee" ORGANIZES anpoints its in.
SSosnSussion Sona o. the, financial situation Of the
iuntly i%natly and the silver question. look for an
Stsr quarter OF the year and think tlat. while
intbhaa inytbhavs = long, stendy; hard pull ahead of US,
~ 1,ne @ end dorado will enter uron new era
"",,.rfosPerity =, to which its past history has no
s"naiel' NY iaith ~ in our state natural re-
oa,aftees ea,Ifees think us time We stopped this di-
Sns.alk OF calnm nifty and began to restore con-
Aaxsnce In ourselves and our state"
.srmLu.'or Teller to-day said:
yIhls talk about the state being ruined.
sIea IIea 10 the event Of worst coming TO worst Ii
n Sn,ws wrong. and Of no good purpose, 1t would
IIu, ISt ~. us most undoubtedly and most seriously.
Sut We VIII live through H. Tho contain Dtibla |