The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-07-19
Streets Thronged with Mob Of Nervous De-
pastors, Who hades Rush for Their Money
the Moment Banks Opened heir Doors.
Nine Banks in Two Days Forced to Sus-
pend in the Silver Ridden State.
Almost Without On Exception the Officers and
Directors Assert that DspOsiiors Will Be
Paid in Full-0ther Suspensions
THE DENVER CRISIS.

Three National, One Private and Two Savings
Banks Forced IN the Wall.
Special to the Indianapolis Journal
DENVER. July 1S-This city was struck
by the financial storm to-day in q wav
which inaicated that yesterdays excite
ment was merely q side show. Those who
didn't have money in tn e tottering and fall
ing banks stopped business and watched
the lighting crowds in the street vainly
clamoring for their deposits at the doors of
the institutions that were forced to close.
In addition to yesterdays record. six more
banks went to- day. making nine for the
two days. Those to-day include three ma
tionslbanks-The Union National. the Com
mercIsl National and the National Bank
of Comm eroe- which closed their doors
this morning. owing to tho heavy demands
of excited depositors. and the Mercantile
Bank. small private institution. doing
business in the Mining Exchange Building.
which suspended owing TO the close of the
Union Bank. through which its clesrances
were made, and two additional savings
banks-the North Denver and the Capital
Savings The suspension of three saw.
ings banks yesterday warmed the COM
munity that at 10 o'clock this morning. the
hour for opening the banks, crowds had
gathered i'm front of nearly oil the financial
institutions, ready Tor a furious run. At
the German and City National banks the
run was heavy. although the First Nation
al. the Peoples and one or two others felt
the unusual pressure to some extent. The
streets were full of people. discussing the
situation. 1t was wild crowd, and the
L. Ia
tain order. The run on the Peoples Bank
soon exhausted itself, and 10y II o'clock sf-
faIrs had resumed their normal condition.
At the City National the run was over by
1 O'Clock. and at the other banks. exceps
the German, the excitement was all over
by noon. At the German National the
crowd kept in line in front of the teller's
window all the afternoon.
THE FIRST NOTICE.
A few minutes before 10 o'clock. posted
on the front and side doors of the Union
National Bank. was the following notice.
signed by II. w. Woodbury.. president:
1.-The Union National Bank is in the hands
of the Controller of the Currency We
have paid to our depositors in round num-
bers 81 900 U00 In the past month. and have
81. 100000 in assets to meet our remaining
liabilities. which amount TO about $500. 600.
We have realized on our assets as rapidly
as we could and enough loan payments
have been promised the last of the week to
enable us to take care of depositors again.
If then paid. the Controller asserting, We
shall then reopen. In the meantime every
depostor may be fully assured that he can
by no means lose dollar of his de eposit."
No sooner wau the notice posted tnan
crowds began TO gather at each door. and
for bonrs they remained there. The Com
mercial National BANK did not open its
doors at all. preferrlDg to avoid the in
evitable run. Ii was in bad shape, having
$40 OO0 capital stock and only g., 500 in its
vaults. This notice was posted: