Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-07-20
DENvER's BANK DISTURBANCE.
The Worst Apparently OVer-Business-
Men Breathing More Freely
Try telegraph 10 the Dispatc

DENVER. Col, July ~. The panic was
on m the cty to-day with renewed vigOr,
and as a result the old German National
with reputation for stability Of twenty
years standing. and the equally reputable
State National failed 10 open their doors
for business this morning. Later the
Peoples National failed. All night
long dcpo~Itors stood in line in front
of the German National, aud by 9
O'Clock there was ono long sea OF
faces stretching down tho street. At
the opposite corner. where the State Bank
hn~ so long done business, there was also
quito q crowd 0f ANXIOUS dCpo5ltors await
ing the opening of the doors. Here the
people wero relieved of their agony at a
few minutes after O'c och, whom a notice
was posted on the door 10 the effect that
the bank would not open, owing 10 the
lack of ready cash. and tine crowd moved
away. At the German National
thore was evidently determination
10 60 ahead with business mp TO almost
the last moment. when a slip of paper was
pasted on the window stating that the
doors would remain closed temporarily.
Tneu the scene became distressing. Men
and women down the long line broke out
INTO tears and Wailug. By tins time there
Wa. a run on every bank I'D the city, and
soon came the announcement that the PeO-
ple.' National Bank had closed its doors.
Tho notice on its doors read: Tins bank
II closed bv order of the Board of DIrcc-
tors. Net assets, Sl.10O,OJO; Liabilities.
1OO O0o.'
Ihe assets and liabilities - the other
| two failed banks bear about the same pro-
portions as those of the Peoples Bank.
Their failure ls chargcabie 10 the long
continued drain by deposItOrs and III
ebihty 10 raise ready cash. All expect II
Icsume shortly.
Frank Adams. Bank Examiner. to-day
took charge # the mon National, Com
mprclnl National, National BANK Of Com
ucrcc. State National. and German Ma
tunal.
Tins afternoon the run at the Denver
National was over, with an enormous
amount Of money stIIl IN sight. The same
was true at the CITY and all the other banks.
and the businessmen Hre beginning TO
breathe frcer. There has been a consider
able number OF failures among business
houses of all kinds within the past three
dars. caused hy attachments taken out 10y
banks which foresJw thor suspension.
Five national banks are still opcn.
VARIETY OF EAiBARRAssNIENT.
DFNybR, Coll, July lP-Among the fail
ures that almost escaped notice was that
OF the Bank Of North Denver yesterday
afternoon. Business firms whose emhar-
ra,Sment has become known range from
luuOr-ea ealOOUstO street railroads. There are
IN the list drugst0rcs. lumber companies.
gcutlcmeu's furnishing houses, mIllIners,
coal companies, dry-go0ds houses, JeTel-
lcrs, ready-maic-clothiug dealers. tailors,
aud erocers. Two bank failures are re-
ported at Aspen and one at Lovelaud.
Commercial failures are also reported from
many points IN tho State outside of Dem
Yer. due principally to tho fact that the
sufferers deposited III Denver banks which
Lavo suspended.
TROUBLE At GRIZZLY.
GrrELY, Coz. July l9.-Ihe Union Bank
closed IT, doors at p. NJ. TO-DAY. aud "A
half hour later the Greedy National pulled
down It's blinds and turned the key IN It's
door. Inc Unions statement says that
owing to the suspension of certain
Denver national uauGs which had on
deposit several thousand dollars Ct
AZ, money and the fact of steady
Withdrawal Of deposits-about $50 600 the
past ninety days-they were compelled TO
suspend business They say their habill-
tles are about 10000 with assets and
paId-up captal amounting TO SJJO,0J0. AZ
soon a. the fact of the suspension of these
banks became known a steady run was
made on the First NalOuai Bank, but 1t
continued 10 honor all checks and drafts,
and even after the regular closing hour
cashed two checks presented,
Colorado Banks Assign.