New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-21
DENVER IN CALM MOOD.
DEPOSITORS PUTTING THEIR MONEY BACK
IN THE BANKS.
coSrEoJJ.rR roKELss MESSAGE APPRECIATED
NO MORE FAILURES REpoRTED-
HnpE OLE RESUMPTION.


NO MORE FAILURES REpoRTED-
HOPE OF RESUMPTION.
Denver. JULY 2O.-There will apparently be no
more bank failures in Denver. The pane wore
itself out yesterday with the failure oil the REQ
pIe's, German and State National banks ms
morning when the First. Colorado, Denver 'nS
and American National banks opened their uoors
there were hardly dozen depositoIs IN all OF 'hen
at the having teers' windows. In the first anu
the Colorado however, long strings OF depositorS
reaching nearly TO the street were ilncd up III
front of the receiving tellers' windows, ana tiie
money was going back into the bank vaults az
most as rapidly as it had been withdrawn IN 'he
last three days
Z, IL they could realize on securities There may
bc a few commercial failures in the city within
the next few days as a result OF the suspension
Of banks, hut it is believed that in no instance
wbstber a banking or commercial house. will the
failure he complcte, and that resumption of busl-
ness will surely follow shortly. 1t is stated to-
day that .thc Mcnamara drygoods house. which
f.il>a o. Monday for $3.50, 900, has settled with
&c rrincinal creditors and will resume business
on Monday
Tho dispatch from Controller of the Currency
Eckcls to the effect that he would give every
possible aid to the banks of this city is applauded
on every side Bank Examiner Adams. TO whom
tho telegram was addressed. was besieged by eX-
cited people anxious TO hear confirmation OF the
good report and get expression from MIN
Mr. Ecllelss comments on the foolish course OF
those Denver citizens who had lost confidence III
thu. :, banS -r're looked upon in A" most r's"'S0"'
light
The newspapers ran of extras announcing the
news, and things began to wear bright aspect
The officers of the several closed banks all ln-
formed the public that they wotIld be aoic 10 pay
every ceat due to customers. But In some cases
IL will take some time TO realize on SECURITIES
1t is learned that heavy Withdrawals have pceh
made from several Of the banks during the las'
few months; which would indicate that some OF
the far-secing ones anticipated trouble such Us
has come upon the city in the last few days.
Il is noticeable that few of the merchants or
business men of the city withdrew their deposits.
the runs being made principally by the working
people and poorer classes Of customers.
The newspapers feel greatly tlIr distress. every
daily excepting one having curtailed expenses by
reducing its cr x,ins larger type. Difficulty
in making collections IL given the cluse.
Bank Examiner Adams, who came up hurrieily
from Pueblo to look into the condition of affairs,
said this morning that far as he had been
enabled to make an inspection OF the suspended
banks. he did not believe that their condition was
so serious as many were led 10 believe lie would
however. begin at once thorough examination
Of the several institutions, and would in a lew
DAYS he able to make more extended and
satisfactory report. The opinions of the leading
fnanciers in the East to the effect that the crisis
would be soon passed will doubtless have beneh-
cial effect in restoring confidence among the peo
pie here.
Those banks which have not suspended trans
acted business as usual this morning. President
d. H. Mofiett, Of the First National, is greatly
pleased with tho news from Washington, and pre-
diets an early resumption of business