The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-07-18
Streets Thronged with Q Mob Of Dspositors
Clamoring for Their Money from the
Suspended Banks Yesterday.
Two Banks, with 50, ,0O0.0 900 Liabilities,
Forced TO the Wall in Kansas City.
Expected Relief from the East Failed TO Ar
rive in Time-Six State Banks in Kansas
Go under-0ther Suspensions
THE SAVINGS BANKS.
Denver Institutions, Unable TO Obtain Re
lief. Go TO tho Wall

Denver Institutions, Unable TO Obtain Re-
lief, Go To tho Wall.
DENVER. July 1Z-This city was In o
financial panic to-day. Streets in front Of
three SAVINGS banks were throDged with
wildly fighting depositors demanding their
money. bat who could not be accommo-
dated for the very good reason that they
had suspended. 1t was the nrst failure here
since 1874. The Peoples Savings. the Colo.
RADIO SAVINGS ana the Rocky Mountain
Dime and Dollar Savings banks oil closed
their doors. An estimate of tho assets is
Sl,50o.OO0. with liabilities OF ST.
$4,000. The Colorado Savings Bank.
of which +. X. Atkins 10 president and G.
U. Atkins cashier. In the ststomeDt 10 the
assignee. Alfred Buffers, places tie open
sccounts due depositors at $50. l0Soi; cer-
tihcates of deposits. S6069y6; due other
banks. SS.23654; cashiers checks, S625. The
assets over liabilities In what 10 declared
70 be good commercial paper. well secured.
Is $73 063.72.
+. w. Woodbury. IS president aud c. f.
Clark cashier of the Rocky Mountain Dime
and Dollar Savings Bank. of which Cbas II.
Blakeney WAS this morning made assignee.
A detailed statement has not yet been
made. but from the books OF the Institu-
tion 1t would appear that the assets ere
SI56.s0a5S and the liabilities Sl05.-
65L32. The officers of the Institution
positively assert that the depositors will
no. lose . dollar. Ii 10 understood that all
the assignments were preconcerted and was
done for self protection and for the protec-
tion of the depositors. The direct cause Of
the failures WAS the universal hard times
and inability TO realize on securities. The
president of each bank declares that each
depOsitOr Will be paid IN full, and that the
institutions will resume again. A run on
the Denver Savings Bank Is impending.
The bank is taking advantage of the thirty
and sixty-day notification law, and is pay
ing out no amounts over S25. Presidents
Lawrence. of the Peoples Savings Bank,
in statement this morning, said:
The Savings Bank, mp 10 six weeks ago.
b ad most successful career. having IN de-
posits 81. SOC. 900. and had paid to it's depos-
itors in interest ell2.4S2 The causeless
run began in May, and really continued IN
to last Saturday night. when the entire
available means of the bank were exhaust
The officers of the institution pledged
their estates to its support. but bad feeling
has been engendered among Eastern banks
aud hnanciai institutions by the recently
published expressions and demonstrations
Leralded from Colorado that q thirty days
notice for 100000. signed by Colorado par
ties worth S4.0O0000. to raise Immediate
money. was not worth the pa
per ~ was written on. Most
obtain temporary assistance to tide
the bank over and ND to four days ago this
necessary assistance was promised by
Eastern correspondent banks. but since the
doings of the recent convention In this
city became known ell over the country
these promises were Cancelled by telegraph.
and no alternative was left us with notices
amounting to nearly $500. 600 for withdraw
ais of deposits, maturing within the near
future. staring rs In the face. and the cash
on hand paid down to s223. but to make q
full assignment for the protection and BEN
efit of all"
The failure in the savings banks will in no
way affect the Peoples National Bank.
which, with all other national banks. 10
perfectly sound and anticipates no trouble
outside of the savings banks