Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-07-18

DENVER, Colo, July 1.-THE first
bank failure ia Denver since 1874 oc-
CURED this morning when the Peoples
Savings. the Colorado Savings, and the
Rocky Mountain Dime and Dollar Saw
ing banks closed their doors. An esti-
mate OF the assets is 81, 100000. The
Colorado Savings bank OF watch +. h.
Atkins is president and c. o. Atkins
cashier, in their statement TO the as
signee, Alfred Buffers, place the open
accounts due depOSitOrs st S43j, los. 54;
certificates Of deposit, $50, 699 80; due
other banks, S3, 256. 81; cashiers checks,
S625 Their assets over liabilities In
what is declared TO be good commercial
paper well secured is S7S, ,O63.72.
+. w. Woodbury. Is president and G.
+. Clark, cashier Of the Rocky Noun
tain Dime and Dollar Savings, Of which
Charles II. Blakeney was made as
siguee. A detailed statement has not
vet been made, but from the books Of
the institution 10 would appear that the
assets are S156, sos SO, and the liabili-
ties SlO5, ,56452. The officers Of the IN
stitution positively assert that the de-
positors will not lose a dollar.
Ii is understood that n the assign
ments were preCOncerted and that c
was done for self-prOtection and for
the protection Of the depositOrS. The
direct cause OF the failures was the uni
yersal hard times and inability 70 real
fze 90 securities. The president OF each
bank declares that each deposition will
he paid in full and that the institutions
an A rfrr, nF
/ YER Savings Bank is impending.
The bank is taking advantage OF the
80 and 90 days notification law and is
having out no amounts over S25. Presi-
dent Lawrence, of the Peoples Savings
Bank. In a statement this morning said
the savings bank 40 20 six weeks ago
had a most successful career, having de-
posits OF 81. 300, 600, and had paid toAts
depositors In interest St72, 4S2. The
ceaseless run began on May /, and con-
tinued up TO last Saturday night, whe n
the entire available means Of the bank
were exhausted and nothing was left
but 70 assign. The officers Of the
Institution pledged their estates
etO its support but the feeling
A,hat has been engendered among East
I'm Da0kS duQ uldlClal AueLllutoHo ~
he recently published expressions and
Z demonstrations that have been beralded
from Colorado, paper at thirty days no.
Jice, for $780, 600, signed by Colorado
parties worth s4OO, 600, TO raise immedi-
Ate money, was not worth the paper 1t
was written on. Most persistent efforts
were made TO obtain temporary assist
hnce to tide the bank over, and up 70
-four days ago this necessary assistance
was promised by Eastern correspondent
banks, but since the doingS Of the
recent convention became known all
over the country, these promises were
cancelled by telegraph and no alterna-
tive was left us-with notices amount
ing nearly to $500, 600 for Withdrawals
OF deposits maturing within the near
future staring US in the face and cash on
hand paid down 20 S223-but TO make a
full assignment for the protection and
benefit Of all The failure OF the saw
ings bank will in no way effect the
People's National bank, which, with all
other national banks, are perfectly
sound, and anticipate no trouble from
outside savings banks.