The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1893-07-20
STILL EXCITED.
The Panic MT Denver Rages Unabated.
Three More Of Her National
Banks,
German, State and Peoples National,
Close Their Do0rs-Runs on
Others.
Crowds OF Disappointed People on the
Streets--Police Are Keeping
Order.

DENVER, July ~. line nnanclal 0X-
element continues. The State Ma
tional bank will not open its doors for a
few days. A notice is posted on the
door to the effect that owing to the in
ability to procure funds to meet de-
mands which might be made upon the
bank it will temporarily close. The
banks officers say that depositors viii
not lose cent and that the bank will
resume business in few days.
The German National bank threw up
the sponge at 10 o'clock, the usual open
ing hour. A card was placed on the
door which read:
CLOSED by order OF the directors"
There Is great crowd of disappointed
people ON the streets. but the police are
preserving order The First National
bank opened on time and is now busy
paying off all demands being made upon
it. There is small line of depositors
at the Colorado National asking for and
receiving their money.
The Situation Reviewed.
The run on the First National bank
10 about exhausted, and the institution
remains firm. The banks that closed
earlier in the week are still closed. in
Guiding the Capital and the North Den
yer banks, two private concerns. The
Union National is in charge of Frank
Adams, the bank examiner President
Woodbury. is hopeful of resuming busi-
ness in few days. President Reith.
man OF the German National. Is greatly
disappointed at the failure of aid to
arrive. He says that while the assets OF
the bank are greatly in excess Of the
liabilities it was necessarily compelled
to suspend because of lack Of available
funds TO supply depositors. Every.
thing Is serene about the City National.
The majority of the German Nationals
depositors are of German birth and
their saddened faces seemed to tell
plainly of the disappointment that has
come upon them. In the vicinity Of the
banks at Sixteenth and Larimer streets
there is tremendous rush of people
and the police have all they can do x
keep the crowds moving.
Paid Out Millions
President Mcneil of the State Nationa
bank, says that his bank has paid on
in cash a trifle more than 5000, OOl
within the last 30 days. He exercised
almost superhuman efforts to gather ir
his loans in order that the bank should
not be closed. but his efforts were in
vain.
In an interview he said: PLEASE say
for me that our assets today are fully
twice as large as our liabilities.
Cashier c. Al. Clinton of the German
National bank stated that the exceed
ingly hard times and inability to plac,
securities, together with the failure I,
call in loans had forced them to clos,
their doors. During the last 80 day.
there has been a constant drain on th,
bank and over 81 .00O, 900 had been pai6
to depositors. Some days the demant
was all the way from $50, 900 to &75, 900
1t was anticipated that the bank woult
receive from Eastern friends abou
$3OO, 600, but it failed to materialize ant
as they mad paid out all their none,
nothing was left but to close the doors
The capital OF the German National Ii
$500. 900. Its officers expect to resum,
as soon as its affairs are adjusted.
Third For the Day.
DENVER, Colo, July 20.-The People
National bank closed its doors shortl,
before II o'clock. The notice reads a
follows: This bank is closed by orde
OF the board of directors. Net assets
q. 100, 900; liabilities, $3l0, 600"
The Tucker Mems Furnishing com
pany have made an assignment Lila
bilities $4,000, mostly in the East. AS
sets not given.
Coal Company Assigns.
nrNryun T.11,. IT. r.