The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-07-20
SAVINGS BANKS COLLAPSE
THREE OF THEM CLOSE THEIR DOORS
IN DENVER YESTERDAY.
A Long Run On One Of Them Drove 1t to the
Wall, and in Anticipation Of Like
Treatment the Others, As
signed While They
Had Funds.


failure in Denver since 1874 occurred
this morning when the Peoples Saw
ing, the Colorado Savings and the
Rocky Mountain Dime and Dollar
Savings banks closed their doors. An
estimate of the assets are $l,5OO,OOO
with liabilities of 81 $50, 900. The Col
orado Savings bank, of which F. X.
Atkins is president and g. G. Atkins
cashier, in statement to the assignee,
Alfred Buffers, place the open ac-
counts due depositors at $435, 1OS so;
certificates of deposit, $50, 500. 36; due
other banks, $2,236.95; cashiers
checks, $G25. Their assets over liabil-
tiles in what is declared to be good
commercial paper well secured is $73,-
06372.
F.W. Woodbury. is president and G.
+. Clark is cashier of the Rocky
Mountain Dime and Dollar Savings
bank, of which Charles II. Blakeny
was this morning made assignee. AS
sets $l5G, 903.53 liabilities $l05, 565 80.
Officers of the institution positively
assert that depositors will not lose a
dollar 1t is understood that ali the
assignments were preconcerted and
were done for self protection and for
the protection of depositors. The di-
rect cause of the failures was the uni
versal hard times and inability to rea-
lie on securities.
- President Lawrence of the Peoples
Savings bank, in a statement this
morning said causless run was start
ed May % and was really kept up to
last Saturday night, when the entire
available means of the bank were eX-
hausted and there was nothing left
but assign. The officers of the insti-
tuition, said he, pledged their estates
to its support, but the feeling engen-
dered among eastern banks and finau-
cial institutions by recently |
published expressions and demon
strations that had been heralded |
from Colorado is such that 30day |
note for 100000 or $1,000 signed by |
Colorado parties worth $4,000, 900 to |
raise immediate money was not worth |
the paper it was written on. Most |
persistent efforts were made to obtain
temporary assistance to tide the bank
over, and it was promised by Eastern
correspondent banks, but since the
doings of the recent convention in !
this city became known all over the
country these promises were cancelled |
by telegraph and no alternative was
left With notices amounting TO
nearly $500,00 for Withdrawals of de-
posts maturing within the near future
staring us in the face and cash on
hand paid down TO 1928, nothing re-
manned but to make full assignment
for the protection and benefit o. all.
The failure in the savings bank will in
no way affect the Peoples National
bank, which, with all other National |
BANKS, is perfectly sound and antici-
pate no trouble outside of the savings |
bank.
KANSAS CITY NATIONAL BANKS.
KANSAS CITY, July 1.-THE Mis-
souri, National bank suspended pay
ment and closed it's doors at II 45
o'clock this morning. 1t was despite
assertions Of strength and publishing
of favorable statements Saturday that
the Missouri National bank was taken
possessi IN of by the the comptroller
of the currency. The bank was sud
denly closed as tight as clam and it
was impossible to get statement
from the officers. The Missouri Ma
tional is a new bank, having opened
in January 1891. Its capital stock
paid up is $3.50, 900, and its surplus is
$4,000, according to statements made
Saturday in compliance with request
of the comptroller of the currency.
Its officers are V. Roger, presi-
dent; Henry G. Kaupau, vice presi
dent; and II. Covngton, cashier.
The officers state that the assets are
$l,25t7e5 liabilities, excepting capt.
tai stock, about 100000. There was
no well defined run on any of the other
n ltlonal banks this morning, although
some deposits were drawn out.
KANSAS CITY PRIVATE BANK.
KANSAS CITY, July 1.-THE Grand
Avenue bank, small institution,
suspended this morning. Jas. b
RuckeI, Immediately took charge of
the concern.
The banks assets are $500, 900, laol-
tiles $4,000 The bank holds ample
giltedge securities to meet its ubliga-
tions and its officials expect to resume
business shortly.
PRIVATE KANSAS BANK.
TOPEKA, Kan July 11-State Bank
Examiner Breidenthal says Hood &
Kncaid's bank at Pleasanton, Kan,
has failed and is in the hands OF
Deputy State Commissioner Osborne.
Its capital stock is $4,000. No state
ment is given,
CFDARTowN BANK CLOsRD.
WASHINGTON, July 1.-THE comp
troler of the currency is Informed that |
L., NJ IF AIn rfA
Ga had closed its doors today.