The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-21
MR.. ECKEIS GOOD CHEER
4E ASSURES DBSVER BANKERS
THAT NE WILL HELP THEM.
The Comptrolier's Comforting Words Have
q splendid Effect Upon the Finsn-
elAI situatlon-Other Failures.

famfS IT. IChtlHf NouptIoileT OF the
currency. Immediately on his return
from New York this morning. addressed
10 The National Bank Examiner at Den
yer dispatch defining the policy Of the
administration with reference to insol-
vent banking institutions generally. as
follows.
prank Adams National sank Exam
iner Denver. Col:
nr wish you would announce 10 the
officers Of the banks which have failed I'm
pargr that % Is my intention 10 lend
hem every aid possible looking towards
q speedy resumption on their part. and
nat / shah grant 10 them sufficient
time t0 enable them 10 not only collect
IN such amounts as are speedily collecta-
ble but 20 get together such amounts OF
money as will enable them 10 open upon
a small basis. IL seems 20 me that such
citizens as have by a foolish course OF
conduct in Withdrawing their deposits
from the banks. which so long enjoyed
their complete confidence, and brought
about this condition. ought, in view Of
the damage they have done their city.
az quickly as possible repair II by stand
ing ready % deposit with them. ] fully
appreciate all the circumstances Of the
may be entalled you are authorized 10
employ as assistants. 10 protect the pa
per and collect I'm moneys most cOmpe-
tent and trustworthy employees I'm such
institutions. ] have also ordered Exami-
ncr McHugh. Of Iowa, 10 report at once
20 assist you.
81 desire this telegram 10 be given 10
the press at Denver. evidencing. as II
does. that the Comptroller has faith I'm
the ability Of the Banks Of Denver 10 re-
sumo. and Of his desire 10 lend them
every assistance consistent with his Off
clal duty"
When asked 10 express more fully his
views on the condition Of affairs.
Nr Eckels said the failures in Denver
yesterday. Ike a number OF national
bank failures. were caused by no fault
Of the bank officials. but through a fool
fish and uncalled-for lack OF confidence
on the part Of the depositors
1T is my intention" ne said. "where
bank has been properly conducted.
and whose assets Indcr ordinary cir
cumstances would have permitted Il 20
remain solvent. 10 give the institution
every opportunity 10 resume business.
Am the Denver banks that failed We're
well conducted and every opportunity
will Dc given them 90 reopen. The people
who have caused this Denver disaster
help the banks 20 resume"
The Comptroller has been notified that /
fhe directors Of the Chemical National |
Bank Of Chicago have abandoned the |
attempt 10 reopen that bank. They were
unable 10 collect the assessments re-
luired
Tho Dispatch Has % Good Effect.
DENVER. coll. July 2O-The cheering
news from Washington has had a wor-
larful effect upon Denver this morning
The dispatch from Comptroller Of the
orrrercr Eckeis. to the effect that he
would give every possible aid 10 the
banks of this city IS applauded on every
side. Eank Examiner Adams, TO whom
the teIesrm was addressed. IS besie8ed |
lv excited people. anxious TO hear a con-
firma'ion o. the good report and get an
expression from him. Mr. Eckels' COM
meuts on he foolish course Of those Den
,er cItz.ns who had lost confidence In
the banks are looked upon as being most
righteous.
The newspapers are running off extras
the news. and already things /
5.sIn ta wear "a bright aspect. The otii-
-rs OF the several closed banks all notify |
l' public that they Will be able 10 pay
very cent due tO customers. But I'm
ome cases So will take some time TO re-
|
'rlvv Withdrawals have been made from
eyeral ~ the banks during the past few
months which would indicate that some
II th' iar-seeing ones anticipated trouble
Ion as has come on the city in the past
e" d1ts DO is noticeable that very few
I ihe merchants or business men Of the
.N withdrew their deposits. the run
.Hr made principally by the working
ple and the poorer classes of custo-
rs The newspapers feel greatly the
's'ress. every daily. excepting one. hav-
F rWtailcd expenses 10y reducing in size ,
Q using larger type.
WASHINGTON. July 2O.-Othcr busi- +
troubles are reported as follows:
The banking house Of j. y. Wheeler
Dorado city and Manitou. Gid not open s
day. Their branch az Aspen closed a
'erday. a
The private banking house of T. A.
aut 40 Cheyenne. Wyoming. d'd not
Dem to-day and is I'm the hands OF an
sIsucc. d
Az Grand Junction. COL the First Ma I
1aal Bank failed 20 open its doors to- C.
v AS soon as this became known e.
siuess men began dcpositing in the "a
asa County Bank. I'm order TO make its %
AIT good. r.
rhe First National Bank. Of Canon W
IS. Colorado. suspended to-day. be- 81
use its funds are in the suspended f
.nver banks. II
Two More Colorado Banks Fail. ~
COL. July 20-The First p,
,tional Banks at Canyon City and 81
and Junction this state. failed 20 open
.fr doors this morning. II is probable
10 the failures We're caused by the
pension of Denver banks. +
A Business Failure Results.
IENVER. col. July 2o.-The Flanders
s Goods Company has been attached Or
W 00 and in consequence were COM a.
I'D - make an assignment this morn
The assets are estimated at 10000, m
liabilities az Sl2j.0O. The failure or
caused hy the suspension OF the no
le's National Bank In
Security Trust Company susperds. WI
'ASHrA. y. H.. July 2O-The Security bo
i Company closed its doors this ing
h'ne The bank has not met with mo
h1l stopped business on account In
.ne withdrawal Of deposits. The Treas POI
f states that the bank will be able 20 liv'
al depositors I'm fun 10 has "a capt. ha'
tnl surplus amounting 90 $4,000 pit
h must bee paid ont before loss can are
'r l9 1ep0sitors There is considerable pee
llemeni IN consequence Of the suspen-
'olonci =. ~. Taylor, Jr., Assigns. is
hANKFORT. KY. July 2O.-A SEN roa
ION was caused In business circles Or
, e., Today By the assignment OF Colonel mn mn
a., .a}lor Jr the famous distiller, e,a