The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-07-21
HELP FOR DENVER BANKS.
ooyp1RoILER ECREJs TILI GIVE
MN ALI The AID HE CAM


,m Grant Them Time TO Collect Money
,o start Agaiu-The News Hailed with
inv in Denver Many People Putting
r,.,r Money Back In the Banks stu
o,en-A sharp Break In General Electric
,,. Feature Yesterday In Wall Street
m. Army of Unemployed IL Very large.
r,,suf>GToy. JUL 20.-Comptroller Eckels,
,,,reJiatcly on his return from New York this
r,nrnipg. addressed to Frank Adams. tho M
.,onal Bank Examiner at Denver, q despatch
dseping the policy Of the Administration with
,s,orcnre to insolvent national hnkinC insti-
,utions generally. as follows:
"Iwish YOU would announce to the officers
.,tb. lanks which have failed in Denver that
Wis my intention to lend them every aid pos
.hle looking toward speedy resumption on
,beir part and that shall grant to them sufl-
liant time 10 enable them to not only collect in
,uch amounts as are speedily collectible. but
N get together such amounts OF money rs will
.nabe them to open upon small basis. 1t
.scms to inc that such citizens as
have by foolish course OF conduct In
vithdrnwing deposits from banks which
an long enjoyed their complete conf
aence. and brought about this condition.
oucht In view OF the damage they have done
their city. as quickly as possible to repair it by
sanding ready to deposit with them. l fully
snpreciate all tho circumstances OF the situa-
ton, and, that no unnecessary loss may be en-
Jailed. you arc authorized TO employ as assist
ANTS, to protect paper and collect in moneys.
the most competent and Trustworthy en-
ployecs in such institutions. l have also or.
dered Examiner McHugh OF Iowa to report at
once to assist you. desire that this telegram
10 given to the press at Denver. evidencng as
ndoes that the Comptroller has faith in the
ability OF the banks Of Denver to resume. and
sSo,nssSStcn6with his ofiicial duty"
When asked to express more fully his views
on the condition of affairs. Mr.; Eckels said the
other national bank failures. were caused by
no fault Of the bank. officials. but through
foolish and uncalled-for lack Of confidence on
Ut ia my intention" he said. where bank
has been properly conducted. and whose assets
under ordinary rcumstances would have per-
mitted it to remain solvent. to give the insti-
tuition every opportunity to resume business;
All the Denver banks that failed were well
given Them to reopen The people who have
caused the Denver disaster ~ foolish runs
should do all they can to help tho banks re-
Notifications Of two more failures reached
banks Ban are the First National Bank Of Harri.
and the Oklahoma National Bank Of Oklahoma
City, Oklahoma. which closed its doors yes
Comptroller Eekels's efforts to secure a re:
Chicago chicago have failed This morning Mr.. Eckeis
received tho following telegram from tho
Chemical Bank COMMITTEES:
.Ss \; Ts:Hiss Sa.ions RsaE
but tne many hnaneial di.a.te the eoui
ION and msde /, very dneait to Collect ou,.ssnSins
5 SS TN. ny SS: The Sa
% Sys the IN too
DENVER. July 2O.-There will apparently be
no more hank failures in Denver. The panic
wore itself out yesterday with the failure Of
e nd State Sas9nH
opened their doors. there was hardly dozen
The ana
along string OF depostors reaching nearly
se1s II the OF Se
going back into the hank vaults almost as
npidly as it was Withdrawn during the past
The German. State. and Peoples In ationals)
could pay - , for 81 IL they could realize on
urss IN the city Within e nsxs sW asy
na result OF the suspension OF banks. hut it
+ believed that in I no instan ace; vi, whether
becomplete.. and that resumption Of business
will surely, follow shortly. It is said to:day
H sd the has sssa
With Its pripeipal creditors. and will resume
business on Monday,
nom Comptroller Of the Currency Eckels TO
aid 10 the banks OF this city is appiauded on
every side Bank Examiner Adams. to whom
the telegram was addressed. is hesieged by ex::
cited people anxious to hear u confirmation OF
the good report and get an expression from
him. MI. EckeiS's comments on the foolish
confidence In tho banks are strongly COM
mended.
brighter ASPECT. The officers OF the several
closed hanks all notify the public that they
ers. But in some cnses it will take some
time 70 realize on securities. 1t is learned
that heavy Withdrawals have been made from
months. which would indicate. tina, some OF
the far"sceing ones Anticipated trouble such
II Is noticea Bile that very few Of the m erchants
Ss business men oil the city withdrew their
s T nsop he an maq" by
toners. Tho newspapers feel greatly the dis.
iess; every daily excepting one having cur
,ailrd expenses by reducing in size or using
Tho closing down o. many silver mines.
Iorc"s of coal mines. always. and manufac.
tories in this state has. however. caused q de-
Rloranle condition Of affairs among the labor
Hs ~ WINS tnit lO-uAytner0
are 1000 men in Denver unable to secure
employment. There are 10000 in outside
towns IN the same condition. one half of whom
are making thoir way to this city. where they
VIII become a public charge II conditions do
not speedily change.
The typcgrar hical union. at meeting last
night, Appropriated $1,000 for the purpose OF
,%tndIng unsmrloyed men to their homes in
the last; The railways havo been asked to
make Sio ratio for the men to any point be-
Tween here and Chicago.
Two Cheyenne Ranks suspend.