The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-07-20

DENVER, Col, July l1-Ihe pAulo
VA on this city to-day with renewed
v,or, and as a result the old German
National, with a reputation OF stability
stvou,y years standing, and the equal
" reputable State National failed to
Amen their doors for business this
morning The Peoples National has
sl,o failed. All night long depositors
stood in line in front OF the German
and by o o'clock there was one long sea
Of !acos stretching down the street. At
Tho opposite corner, where tho State
National has 30 long done business,
there was also quite q crowd OF anxious
depositora waiting the opening OF tho
doors. Hero tho people were relieved
OF their agony at afew minutes after o
o'clock, when notice was posted on
tho door to the effect that tho bank
would not open owing TO the lack OF
ready cash, and tho crowd moved away.
Attic German there was evidently q
discrimination TO 20 ahead with busi-
ness up to almost tho last moment,
when d slip OF paper was pasted In the
window stating that the doors would
remain closed temporarily, Then the
,ceno became Distressing, Men and
women down the long line broke out In
tears and wailing. By this time there
was run on every bank In the city,
and soon came the announcement that
the Peoples National Bank had closed
iudoorS. The notice on its doors read:
0This bank is closed by order OF board
OidireCtors, Net assets 81, 100000; lia'
biities $4,000"
President MCNeill, Of tho State Bank,
nw that his bank has paid out in cash
liriae more than 100000 within the
llst thirty dRys. He evidently tried to
call in his loans in order TO keep the
doors open, but it proved to be on inn
possibility. In concluding long talk
be said: please say for me that our
assets to-day arc fully twice as large as
our liabilities"
Charles NJ. Clinton, cashier OF the
German national bank, stated that ex.
Ceodingly hard times and inability to
place aeCurlies together with thefallure
10 call in loans had forced them to close
their doors. During the last sixty
days" he said, "there has been q con.
stant decline and over $l,00000O had
been paid to depositors, some days the
demand being oil tho way from $4,000
DS75,OOO
"Tho banks expected 100000 from
The east this morning, but 1t failed TO
arrive, and as they had paid out nearly
all their money during yesterdays rush
they were forced to close.
Tho bank has been very lenient with
NlCreditors and never made an attach.
nent until yesterday which was against
Tho Mouatt Lumber Company for $780,
WO and this was not done until abso.
Iltely necessary"
The president OF the bank Is John ].
Reitham and Its capital and surplus ia
$4,000 It's officers expect II TO resume
In time as It's assets greatly in excess
gifts liabilities.
The long expected closing Of tho Peo.
PIES National Bank came at about II
o'clock to-day, when President Law
renee had notice posted on tho doors
leading into the magnificent rooms,
stating that the strinVency Of the
money market was so severe that II
was impossible for the concern to long
or withstand the storm. Their state
ment published on the 18th showed
that they had less than 100000 in cash
on hand whilo tho individual deposits
subject to check, not counting any
other amounted to $4,000. Tho capi.
lal stock OF tho bank Is 100000.
Later In tho day Tucker & Company,
dealers in gents furnishing goods and
Tho Peoples Coal Company made as
siVnments.
Hon. Frank Adams, bank examiner,
TOOK charge Of tho Union National,
Commercial National, National Bank OF
COMMERCE, State National and German
National banks, A report Of their con.
GiIIon will not be made for several
days,
This afternoon tho run on tho Denver
National bank was over with an onor.
nous nous amount Of money still In sight,
ll!C same Is true at the City and oil tho
olner banks and business mon arc boz
ginning to breathe freely. ~
LATGa-ThO bank panic has appar..
emily ceased. Tho run on tho national
banks had entirely subsidized by noon
ah0 ~ the closing hour at 8 o'clock
there was not hall a dozen people In or
around any Of these institutions, and
VIC W streets had a deserted appearance
M cGompated with yesterday. The
weak banks havO oil boen closed, and
,npfc can bo but little doubt Of tho
sotnhdncss Of the five that withstood
to-day.
r. Iho lIaIlock.sayro.Nowto Lumber
4 !, ,N,o'itrauy assigned to-day. H. u. sayro,
,he u assignee, said tho assignment was
Ino result OF the closing Of the State
Ha'lona Bank and was necessary sim.
element,
lho Blako Lumber Company as.
signed. No schedule filed.
no ponvor failures have affected
VVyllot Colorado points. Az Aspen, tho
heoIGr Bonking Company, thepioneor
, o1llN OF ilo city, closed Its doors at 2
OCIock III 5 afternoon.
Al Loyclond, Colorado, the Bank Of
loVeIona closed about noon to-day. It's
"'1,ls wil largely exceed tho Liabilities.
O. AZ sterling Colorado, tho bank Of
GigDI''hR cIoSnd to-day, No schedule
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AsllvcF Scare,