The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-07-21
Panic Over in Denver.

DENVER, COL, July 70. = There Will
apparently be no more bank failures in
Denver. The panic wore itself out yes
terday the failure of the Peoples,
German and State National Banks. This
morning when the First, Colorado, Den
yer, City and American Nationals opened
their doors there was hardly dozen de-
positors in all of them at the paying
teller's windows. In the First and Col
tors reaching nearly to the street were
lined up in front OF the receiving tell
ers' windows, and the money was going
back into the bank vaults almost as rap
idly as it was withdrawn during the past
three days. The German, State and
Peoples Nationals could pay So for$ if
they could realize on securities. There
may be few commercial failures in the
city within the next few days, as a result
of the suspension of banks, but it is be-
ilieyed that in no instance, whether
banking or a commercial house, will the
failure be complete, and that resumption
of business will surely follow shortly.
1t is stated today that the Mcnamara
dry goods house, which failed Monday
for $3.50, 900, have settled with their prin-
cipal creditors and win resume business
on Monday.
Run On Banks in Greeley, Col.
GREELEY, COL, July 20.-The Union
Bank closed its doors at D. IN. yester-
day, and half an hour later the Greeley
National pulled down its blinds and
turned the key in its door. The Unions
statement says that owing to the suspen
sion of certain Denver National banks,
which had on deposit several thousand
dollars of its money, and the fact that
there was steady withdrawal of depos-
its, about $S0,00 in the past so days,
thcy were compelled to suspend bust
ness. They say their liabilities are about
100000, with assets and paid up capital
$300000 AS soon as the fact of the
suspension OF these banks became known
a steady run was made on the First Ma
tional, but it continued to honor all
checks and drafts, and even after the
regular closing hours cashed two checks
presented.
On Change in Gotham.
New YORK, July 20.-There was a SEN
sational decline in general electric secur-
tiles in the stock exchange after mid
day. The stocks broke 46 1-2, against
55 3-4 early, the debenture fives sold
down to IA regular.
The stock is absolutely without
support and the same crowd in the stock
exchange which has been prominent in
breaking the stock from 100 down, were
conspicuous in today's movement.
There were heavy liquidations. hold
ers being unable to stand the pressure
any longer. One report was that the
company had lost suit at the West, in
volving an incandescent lamp patent.
Other rumors affecting the property
were of a highly sensational character
and up to a late hour this afternoon had
not been traced to any authentic source
New Hampshire Bank Enjoined.
FARMINGToN, N. H., July 2O.-The
Pennington Savings bankl was enjoined
from doing business this afternoon upon
the petition of the bank commissioners
because of the Inability of the institution
to realize on its assets, the uneasiness of
depositors caused by losses on invest
ments and to prevent run on the bank.
This Plant Cost ST. ,0o0,00
SAN FRANCISCO, July 20.-Attach-
ments aggregating several thousand dol
lars have been filed against the, Union
Stock Yards company whose packing es-
tablishment is at Rodoe, Contra Costa
county. The immense. plant, it is said,
has practically shut down. The plant
cost 81, 900, 600 and was started May 15.
Money Is Tight and the Distfllery Closed.
FRANKFORT, N. Y, July 20.-A sensa-
ton was caused in business circles here
today by the assignment of Col. E. Fl.
Taylor, Jr.. the famous distiller. The
liabilities are not given out. It is said
they are far exceeded by assets. The
tightness of the money market caM'ed
+ho cir nm, or,t