The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-07-21
rrEELSSENDS GOOD CHEER.
The Government to Stand By the
Denver Banks.


,orfunity to Resume Business-All
oe Them in Good Condition if the
o.onle Would Keep Cool-The City
wpcb More Cheerful on the Receipt
ofthe Good News.
washington, July 2O.-James H. Ec5els,
coo+roller of the currency, Immediately
~, his return from New York, this morn
inr addressed to the national bank exam
-rsr gt Denver, dispatch defining the
-ori.y Of the administration, with refer
lrso 10 ipsolvent banking institutions gen
e,ally. as follows:
rrlpJ Adams. National Bank Examiner,
ra7rer COL: wish you would announce to
,raon,ers of the banks which have failed in
uerver fnatit is my intention to lend them
a,ervaid possible looking towards speedy
ra.enption on their part and thatI shall
GRANT ta them sufficient time to enable them
nat oply 20 collect in such amounts as are
srss5uv collectible, but to get together such
ar7ognts of money as will enable them to
opanup on q small basis.
usecns to me That such citizens as have by
tbcfr foolish course of conduct in withdrawing
+befrconiplete confidence and brought about
this condition ought, in view of the damage
tbev have done their city, as quickly as possi-
bic torcpair it by standing ready to deposit
with them
fully appreciate all the circumstances Of
tbe situation and that no unnecessary loss
MAY be cutoued you are authorized to en-
uIovas assistants, to protect paper and col
IN. 4
trustworthy employees in such institutions.
have also ordered Examiner Ntzhugh, of
Iowa to report at once to assist you.
Idesire that this telegram be given to the
press at Denver, evidencing, as it does, that
the controller has faith in the ability of the
banks Of Denver to resume, and of his desire
toaend them every assistance consistent with
hrs official duty.
THE ASSETS ALL RIGHT.
When asked to express more fully his
views on the condition of affairs, Control
Ter Eckels said the failures in Denver
yesterday, like u number of other
national bank failures, were caused by no
fault of the bank officials, but through
foolish and uncalled for lack Of conf
deuce on the part of depositors. "It is
my Intention he said, where bank
has been properly conducted and whose
assets under ordinary circum-
stances would have permitted it to
remain solvent, to give the institution
every opportunity to resume business.
All the Denver banks that failed were
well conducted, and every opportunity
will be given them to reopen. The people
who have caused this Denver disaster by
foolish runs should do all they can to
help the banks to resume
The controller has been notified that
the directors of the -Chemieal National
bank of Chicago have Abandoned their at
tempt to reopen that bank. They were
unable TO collect the assessments re-
quircd
A GOOD EFFECT ON DENVER.
Denver, Col, July 2O.-The cheering
news from Washington has had wonder
ful effect upon Denver this morning.
The dispatchH from the controller of the
currency 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 the telegram
was addressed, is besieged by excited
people anxious TO hear conirma-
an expression from him. Mr.. Eckels'
comments on the foolish course of
those Denver citizens who had lost conf
oence in the banks are looked upon as
oelng most righteous. Newspapers are
running Off extras announcing the news,
ana already things begin to wear a
brighter aspect. The officers of the closed
banks notify the public that they will be
able TO pay every cent due to customers,
out IN some cases it win take some time
10 realize on their securities. 1t is learned
mat heavy Withdrawals have been made
IRON the banks during the past few
months, which would indicate that some
ol the tar-seeing ones anticipated
trouble such as has come upon the
ciJl IN the past few days 1t is notice
able that very few of the merchants or
BUSINESS men of the city withdrew their
qepslts, the run being made principally
ny Jnt working people and poorer classes
OF customers.
HE newspapers feel greatly the dis
ueaS' every daily excepting one having
Cuilaued expenses by reducing in size or
using smaller type.
OTHER WEST ERN TROUBLES.
Washington, July 2O.-Westem bust
u'9s troubles are reported as follows:
~ Inc banking houses of j. B. Wheeler &
20, at Colorado City and ManitOu did
I2J open today. Their branch at Aspen
O'g9ed yesterday
r-he Inc private banking house of T. A.
4eEl AT Cheyenne, Wy, did not open to-
UtF and IS in the hands of an assignee.
Al Grand Junction, Col, the First Ma
4I5lai Sank failed to open its doors to-
Saf' As soon as this became known busi-
la9 men began depositing in the Mesa
C"-II.y Bank in order to made its credit