Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1893-07-26
PANIC Is OVER
The Run on the Banks in the Colorado
Metropolis Comes to an End.

The Run on the Banks in the Colorado
Metropolis Comes to an End.
DENVER, Col, July 20.-There will be
no more bank failures in Denver. The
panic wore itself out yesterday with the
failure of the Peoples, German and
State National banks. This morning
when the First, Colorado, Denver, City
and American National opered their
doors, there was hardly a dozen depo8-
itors in all of them at the paying tellerS'
windows. In the First and Col
oradO nationals long string Of
depositors reaching nearly to the street
were lined up in front of the receiving
teller's windows and the money was 60
ing back into the bank vaults almost as
rapidly as it was drawn during the past
three days. The German, State
and Peoples nationals could pay
So for 81 if they could realize
on securities. There may be q
few commercial failures in the city with
in the next few days as result of the
suspension OF banks, but it is believed
that in no instance, whether a banking
or commercial house, will the failure be
complete A resumption Of business will
follow shortly. It is stated to-day that
the Mcnamara dry goods house, which
failed Monday for $26O,O00, has settled
with the principal creditors and will re-
sumo business Monday.
While the situation III Denver is
quoting down the effect of the local
bank failures is being felt in interior
towns in the state. Word was received
here to-day that the First National
Bank at Canon City and the First Ma
tional at Grand Junction, this state,
failed to open their doors this morning.
No particulars are at hand, but it is
probable the failures were caused by
suspension of the Denver banks.
The Flanders dry goods house, Occu-
pying five store fronts and five stories
high on Sixteenth Street, was attached
this morning by IL. \. Bradley, Of
Boulder, Col, for 1900. There
is no definite statement of the
condition of the firm available. Com
petent judges place the assets at $500, 900
with liabilities at $125, 900. The failure
was caused by the suspension OF the
Peoples National Bank to which $25 900
was due.
In speaking Of the financial condition
in Denver yesterday, d. II. M0tattt,
president of the First National Bank,
said: '"The Denver national banks are
absolutely all right and perfectly able TO
pay every dollar of their deposits and
Still continue business The only
persons who will have trouble from this
time on are those who nave caused
their money to be locked up in the 8u5-
pended banks. The trouble so far as
the banks are concerned is over. 1t
was bound to come, and [ am glad it IS
ended as confidence will begin to re-
store itself and business will grow bet
ter in Colorado"
j. A. Thatcher, president of the Den
yer National, said: ''The storm is over
and the people are now acting with good
! Judgment and sound sense and / feel
satisfied a general improvement will
now follow"
Charles B. Kountz, president Of the
! Colorado National Bank, said: Crock
bottom has been touched and every
! body is depositing to-day. [ am salts
fed that none of the money withdrawn
from the banks has been sent out Of the
state There is an improvement here,
as there Is .enty Of money to be had if
the people will only have the conf
/ dence to lot it ont -