The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1893-07-26

DENVER, Col, July 2O.-In spite OF
the assurance of the bank officials that
the banks were perfectly solvent and
able to pay all demands, hundreds of
people refused to be satisfied yestcr-
day morning. Crowds of women and
men remained ON the streets. and as
she dawn approached they formed in
line before the different banks. AS the
sun rose over the city it revealed a long
Line OF humanity assembled in mill
tary order before the German National
bank, the State National bank, the
Peoples National bank and other
equally reputable banks-all eager to
present their claims and withdraw
their money from the banks.
At O'Clock notice was posted on
the door of the State National bank
that owing to a lack Of Immediately
available funds the bank would not
open for business, On reading this no
tice, howl ofindignation and surprise
went forth, but the crowd disseminated
with the hope that future develop
ments would bring forth greater en-
couragemcnt
The German National bank officials
were eager to proceed with business as
usual, but when the hour for opening
the doors for business approached, the
directors deemed discretion the better
part of valor and ordered a notice
posted upon the window that the doors
would remain closed for the present
When the waiting crowd scanned and
realized the Importance of the brief
bulletin. their emotion was given full
sway Mon cursed and women found
relief in tears. Many mutterings were
heard, but the majority of the people
we're too dazed by their misfortune to
take concerted action for vengeance on
their alleged wrongs
BY this time the excitement was be-
yond control and reason could not be
subdued to the arguments Of logic. A
run was now on and every bank in Den
Vcr must stand on its own resources
Extra paying tellers were placed at the
windows and the boards of directors
were closeted in the private offices
awaiting developments.
The lnople's National bank closed
its doors shortly before II o'clock. The
notice read as follows: This bank is
closed by order of the board of direc- !
tors. Net assets, Sl,1OO,OOO liabilities, ,
$50, ,00O."
President McNOci. of the State bank,
says that his bank has paid out in cash ,
a trifie more than SyO0, 900 within the
last thirty days. lie exercised almost
.uperhuman efforts TO gather in his
loans in order that the doors should
not Oe closed but his efforts were in
vain.
In an interview he said: "Please saw
Tor me that our assets are fully twice
rs large as our liabilities"
Cashier Clinton, OF the German Ma
tional bank, stated that the exceeding.
" hard times and inability to place se-
'urities, together with the failure to
'all in loans, had forced him to close
heir doors. During the last sixty DAYS
here had been n constant drain on the
,ank and over 81, 900, 900 had been paid
.
o depositors; some days the demand
'eing all the way from s25, 900 to
70, 900. !
A tour Of the banks just before their
losing hour showed that all excite
gen had died away and there was not ,
he least semblance of run" The ,
Ulcers of all the banks stated that
hey were taking in more money than !
hey were paying out. 81 do not think
viii have TO place bank in Denver
a the hands of receiver" said Hon.
rank Adams, the bank examiner for
olorado. Mr.. Adams further said that :,
e believed the suspended banks will u
II resume business in short time. He
as the clerks at all of the banks maxi {
~ out the reports which will be sent "
the comptroller as soon as they can
e got ready. Mr.. Adams seems 10 =
ave the utmost confidence in the be- -
ef that the banks will reopen again II
few days and that no losses will g
'llow 10 depositors. The morning y
ain from Omaha brought in $50, 900 in u
lsh for the Denver National bank. %
The North Denver bank closed its ~
oors Wednesday afternoon. There =,
as no great run but the bank had u
nd been unable to realize upon its Sc o.
irities and was short of funds. The u
,positors have been assured that they u
III be paid 100 cents on the dollar. VI
The Kaleidoscope Newton Lumber gt'
'mpany has assigned TO Frederick Il. u
.yre. The assignee said that the as d,
ynment was the direct result of the oi 1
)sing OF the State National bank and lh
Is necessary simply to gain time dur -
g the present excitement. The firm Ut
one Of the most extensive in the city.
DENVER, July Ex-senator Teller, in ou
interview yesterday, said: IL do not an
lieve in taking gloomy view of the al an
uation. Matters in the east are on ai,
e mend and II Is possible Mr.. Cleve.
Ids object lesson will fail Of its pur- 70
se when congress meets. The Sher. 20
IN law will not be repealed unless n Ell
re favorable substitute is granted sti
congress- John Sherman saws the OF
'sent law was enacted in order 10 sir
,vent the passage Of free coinage ac' @
l. Senator Sherman knows that Il ha
'uld have been impossible for any wi
e coinage Legislation to have been cir
'omplished at that time" tn,
-Four Hundred Hands Laid ON.
'EwARK, N. j., July 2O.-At the
stin photiaa Elactrio Tioht A. M.... -,