The state herald. (Holyoke, Logan County, Colo.) 1887-1921, 1893-09-01
BUSINESS AT DENVER.
Rc-Oprning OF tho National Banks.
Scarcity Of Money and En-
s.ln nm

Re-Op.n,ng OF tho Nat,ona, Banks. =
Scarcity OF Money and En-
pioymrnt.
The present and prospective business situa-
ton at Denver 10 not bright and men most
convcrsant with financial Affairs take n
gloomy view Of things. The closing OF six
national and three savings banks In July was
the culininaiion Of reign Of distrust, and
the result was that every one doubted every
one clse's financial ability. The closinx Of
OF deposits, and II IL 4 mystery what has be-
come Of all the money. Nearly everybody
ieclares that he 10 without funds, aud the
man who promptly pays bill Ia looked upon
with surprise. Probably the larger part 81
the rash taken from the banks wa, placed 10
safeiy deposit vaults where much Of II viii
remain for some time until the scare has com.
pletely passed away.
The six national banks arc perhaps deecfv-
Ing more sympathy than they receive. They
have shown u reasonable degree Of lcnlcncy
with their debior,, for although many busi-
ness houses have been closed on attachments,
they are a ANAL proportion Of the number
which arc completely at the mercy OF the
banks The depo,itore whose money has
been tied up IN the closed banks naturally
have felt .ncrnscd that they could NOT lay
hands on their fund.- when they were needed
90 much but many Of them express disgust
With the alternative proposition offered To
them by their bnnkcrs II was that they
should take certificates nj o per cent payable
In eight, fourteen and twenty months or the
banks would be obliged to go into the hand,
Of receivers, and the dcposiiors must await
the slow and uncertain process OF liquidation
Naturally the deposition. dislikcd the latter
alternative but they felt that the terms OF
the nrst proposition were much less favor
able that tho banks might offer II they chose,
as II fcems reasonable 10 believe that II the
banks got on their feet IN way To do gen
oral banking business again that 'hry will be
able 10 pay OF these deposi,ors much sooner
than they propose. To 10 sure the banks cr.
pres the intention 10 pay Oh sooner II
possible, but the average deposition 10 little
distru-tfui Of such promises. They don't
like the Idea of carrying the bank at sir
per cent, whereas they themselves have been
obliged TO pay ten per crnt The National
bhnh ot tommcFve opchru ns uooFs Tor Dusi'
ness on the l1ih aud the Union aud tho Pco-
pies followed on the 2ist
The depo.ltor. of n 100. o0o IN the pcop,e,s
Savings Hank do no, view the openln, al IN,
Peoplc's National Hank with a rrrat dcer,,
of rounnimIty. They feel ,hn, they lave
been imposed upon' The two bank. nrr
owned by tho snmc partlrs. do bu.iuc.s ia The
came room and their fund. do moi sppcar In
hayr been kent separstr In Tho rrtrn, neer,.
sary 10 pro,cc, tho drnost,or. al ,br .avIor,
bank. The Investigation made by . commit.
tee Of ,tookbold-rs bring. 10 iisbt the fas,
that ius, before closing. the fund. of the
saving, bank were loaned freely 10 ia officer.
and that considerable money was paid into
the Golfer. Of the People,. National far ar.
curi,irs thu, were no, Immediately available.
Tho resuIt Of thIs robbln. Peter 10 nav PAM
IA that tho saving. bank has no money Ia nav
ia drpo.itors. while the National Ia open 10
do busiur.. again. Tho ns.irnro Of tho say.
iur, bank. r. q. sbr.der. h. REGARDED win
a,.,-,., n, ,i,. ,..n.,,,,,. .n, .I.,a,,,,,,.,
"''' Wv ..po- .". o''''.',"'"
emot VIII doubtless bc made TO remove hin.
The German. stats and bank Of Commerce
will doubtless resume soon. Al tho bauls
A.. s,,rsmc,, svcr.s ia ioaninv ,non,y an nnv
NV 'a''8f'y WYE" w. f'"'ts"t '"'H'' "" ny