Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1893-07-20
DENVER RELIEVED
That There Are But Few Banks
Left to Suspend,
AND TEEY ARE ABOVE SUSPICION.

Four or Five More Close Their Doors, but
Insist That They Can Pay Every Dollar
II Not Subjected to Absurd Runs-Some
More Tradesmcn Collide with Empty
Exchequers-A Sort of Cyclone of Liqui-
datiOn Raging Out West.
DENVER, July 2o.-The timorous feeling
among depoaitOrs in the Denver banks,
which has resulted in the closing of num-
Der of these institutions this week, seems
ut last to have reached its limit and the
people are now stopping to think, with the
result that more money is being deposited
than is being Withdrawn. During the day
talk on the streets was much more con-
servliye and rational. During the after
noon the five national banks that are still
open for business showed no signs of any
unusual excitement among their patrons.
Indeed, their banking houses were quieter
than on many days during ordinary times.
and everybody seems to feel that the end
of the wholly uujustiliable excitement has
been reached.
Three More Bank Suspensions.
The German, Peoples and State Ma
tional banks suspended payment and
closed their doors in the morning. The
German and state banks did not open at
all, posting notices just before 10 o'clock
announcing the suspension. The Peoples
bank was open for half an hour, but when
the closing of the two other institutions
became known the directors thought it
best to close without further delay. De-
pOsitors in the German bank gathered in
line early in the morning and the crowd
grew so formidable before 10 o'clock that
the officials saw that il would be useless to
attempt 10 meet all demands. \ smaller
crowd gathered ut the Stale with the same
result. The bank posted a notice declare
ing tnat it was perfectly solvent. but una
BILE to p"1vide funds to meet the extraor-
binary run.
Working People We're Waiting.
Those who We're waiting to withdraw
their money from the German National
were the smaller dcpositorS. mostly work
ingmen and women who had deposited
their entire savings in the bank and were
naturally excited. The absence of business
men from the line was noticeable featur
Some of those who were there had arrived
as early a. o'clock, and from that hour
on to the time of opening the line contin-
ued to lengthen Whens the notice was
posted announcing the suspension there
was general stampede for the doors, ali
being anxious to read the announcement,
tut there was no show of hostile demon
stration on the part of the assembled de-
pOsitors, and the police officers who had
been posted there to keep order had little
trouble in disposing of the crowd Despite
the naturally trying condition of things
the people were remarkably cool, and aside
from one or two women who broke into
tears when they learned that the bank
would mt open there was little display of
feeling.
seems to BE Pretty Well Hecled.
The Peoples bank posted notice to the
effect that it was closed, but had net as
sets of 81, 100, 0GGand liabilities of S3lO,OOO.At
II lam. run which Was started on the First
National bank was completely broken and
quiet was restored. The run was caused
principally by those who were near at
hand when notices declaring the sus-
pension of the German and State National
were posted. These people at once became
panic-stricken, though the remarkably
strong condition of the First National is a
matter of common knowledge. Around
the Denver National, Colorado National.
American National and City National
banks all was quiet. There were very few
calls for money and few of those who had
withdrawn from the suspended banks
doubtless repenting their hasty and wholly
unjustifable actions in aiding in closing
the suspended concerns, were depoAting in
the banks that yet remained open.