The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1893-07-22
SENSELESS BANK Runs
They Compel Denver Banks to
Temporarily Suspend,
DEPosrToRs WILL NOT SUFFER-

The State Bank Examiner Thinks All DE-
posltors win be Paid In Full. ss the
Ranks Are IN Good Condition - The
scare About over.
DENVER, July e0-The timorous feeling
among depositors in the Denver banks,
which has resulted In the closing Of a
number Of these institutions this week,
seems At last to have reached its limit,
and the people are now stopping to think,
with the result that yesterday afternoon
more money was deposited than was with
drawn. The German, State and Peoples
National banks closed their doors yester-
day in order TO forestall the heavy de
mands that II was evident would be made.
As soon a. the action had been taken de-
positorn In other banks seemed to take
new courage. and during the day talk on
the streets was much more conservative
and rational.
The North Denver bank closed its doors
late in the afternoon. There was no great
run, but the bank had been unable to real
iEe upon its securities and was short Of
funds The depositors have been assured
that they will be paid 100 cents on the
dollar.
During the afternoon the FIVE national
banks that are still open for business
showed no signs Of any unusual excite
msnt among their patrons. Indeed, these
banking houses were quieter than on
many days during ordinary times, and
everybody seems to feel that the end Of the
uhjustihable eNoltementhas been reached.
Following the suspension of the State
and German National few small deposi-
torn who had their money in the First
National renewed the run on that institu-
ton, but u was a small affair and
soon wore itself out In two hours
the run was completely broken and
quist was restored. The run was caused
principally by those who were near at hand
when notices declaring the suspension Of
the German and State National were
posted. These people at once became panic
stricken, although the remarkably strong
condition Of the First National is a matter
Of common knowledge.
Around the Denver National, Colorado
National, American National and City
National banks all was quiet. There were
very few calls for money. and a few of
those who had withdrawn their money
from the suspended banks were depositing
In the banks that yet remain open.
Among the officers Of the banks which
WeHN upon AOf uublnebA bue oApTobblOn was
unanimous that the furry was at an end,
and that the people would now see the
folly Of their actions in forcing e suspen-
sion OF the banking institutions by all
Withdrawing their deposits at once and
taking from circulation all tho money
that would ordinarily flow through the
regular channels and help in sustaining the
business public and the banks.
ThO suspended banks all had much more
than enough money TO be considered per
fsotly safe guaranty In ordinary ciroum-
stances and with business at its normal
condition would have laughed at the idea
Of . run.
A tour Of the banks just before their
closing hour showed that all excitement
had died away and there was not the least
sSnblance Of run" The officers Of all
the banks stated that they were taking in
more money than they were paying out
~ do not think l will have to place =
bank ip Denver IN the hands Of q re-
ooivsr,n said Frank Adams, the bank eK-
aminer for Colorado. Mr.. Adams further
said that he believed the suspended banks
will all resume business In a short time
10 has the clerks at all of the banks en-
gagged in making out the reports, which
will be sent TO the comptroller as soon as
they can be gotten ready. Mr.. Adams
seems to have the utmost confidence in tho
belief that the banks will reopen again in
few days, and that no losses will follow
to dspoBitors.
The morning train from Omaha brought
In $4,000 in cash for Denver national
banks. Another bank last night received
two iron safes full of money from the east
by express.
Owing 10 the tightnsss of the money
market . large number of business houses
in the city and state have made assign
menta.
The Wheeler Banking company, Of Az
pen. Colo, closed It's doors. and there was
an exciting run on the First National bank
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