New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-21
-, HELP FROM THE CONTROLLER.
TO GIVE ALL POSSIBLE ASSISTANCE TO TIL
BANKS OF DENVER.

TO GIVE ALL POSSIBLE ASSISTANCE TO THE
BANKS OF DENVER.
Washington, July 2O.-Jsmes il. Eckeis, 'he .oh-
troller OF the Currency, Immediately on MS return
from New-York this morning addressed 10 fraHh
Adams the National Bank examiner at Denver.
a,snstch defining tho policy OF the Administration
with reference to insovent National banking ihsutn
lions generally, as follows
at wish YOU would announce TO the ohcers OF tie
hanks which have failed In Denver that II Is my
Intention to lend them every aid possible ioohihg
toward speedy resumption on their part, and mat
shall grant to them sufficient time to enable them'
not only to collect such amounts as are speedily
coIlect,blc, but to get together such amounts OF
money as will enable them TO open upon small
basis II seems to me that such citizens as have
by a foolish OF conduct In Withdrawing de-
nosts from banks which long enjoyed their com
plete confidence, and brought about this condition.
ought in view Of the damage they have done their
CITY, as quickly possible to repair IT BY standihg
ready to deposit with them.
at fully appreciate all the circumstances OF the
situation, and that unnecessary loss may be en-
tailed You are authorized to employ MS ASSISTANTS I"
protect paper and collect moneys. the most conpe-
tent and trustworthy employees in such institutions
/ have also ordered Examiner Mcliugh, OF Iowa. 10
report ut TO assist you.
Il desire that this telegram be given TO the press
at Denver evidencing 1t does that The Controller
has faith In the ability OF the banks OF Denver TO
resume and OF his desire TO lend them every assistance
consistent with his official duty
When asked to express more fully bis views on the
condition Of affairs. Mr.. Eckes said that the failures
m Denver yesterday, like number OF other National
Bank faiures, caused hy 10 fant OF the bank
ofcials but through foolish and uncanedfor lack of
confidence on the part Of depositors
at is my intcnton.' lie said. "where bank has
Been properly conducted and whose assets under
ordinary circumstances would have permitted 1t to
remain solvent, to give the institution every oppor-
tuptfy 70 resume business All the Denver banks that
fa pre well conducted, and every opportunity will
he H&An them 10 reopen. The people who have
eauSe the Denver disaster BY foolish runs should do
all Ydsy, can TO help the banks resume
Johr l. Mercer. OF Helena. Mont was to-day APP
no,nted receiver of the Livingston National Bank OF
livingston Mont
Controller Eckelss efforts to secure reopenng OF
t. snsovent Chemical Bank Of Chicago have failed.
1Y,x incoming Mr. Eckels received the following tee
cram 3rem tie Chemical Bapk committee:
After long patient and earnest efforts, the COM
ro,ttsr NJ the stockholders OF the Chemical National
Hat Of Chicago has concluded that resumption Is not
vrnctcahe Mt this time. AT first the problem seemed
easy butths many financial disasters throughout the
country have excited the public ana produced uni,ni
csution and made very difficult TO collect outstanding
bills or raise money usual processes The conditions
imposed by the Controller were well received, but the
present stringency obstacle loo serious 10
Be- overcome by the stockholders