Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-07-18
ton to draw upon, making it imros.ltle

ton to draw upon, making It apostolic
10 close their doors.
The Colorado National and several
others were equally r0vd. Tho PEG.
pic Withdrawing tneiT money were
all small deIOsitofp. The banka are
paying all dpmauds except those on
timn certificates, demanding these to
remain Till the expiration Of the
time.
President j. A. Thatcher OF the
clearinghouse says: al am confident
that touay will SEQ the wort Of this,
aud people will come TO their senses.
At a meeting Of the clearinghouse last
night we decided that we could not
help the banks, anu 20 some " them
have gone to the wall. All OF them,
believe, have ample security 20 protect
all their depOsiiOrs, but unfortunately
At this time cash and hot security ~
what the majority OF the people IL
clnmurlng l0r.n
AZ the State national bank quite "a
run "a In progress. The officers appear
TO he IN the best humor ,ani say they
are confident that they can weather
the storm.
Up 10 noon everything was quiet Mt
Atl' = VI AaAN hNAANHhis ~ " AllAtNnNNNA
that half n million In gold was received
there iust before the doors opened this
morning.
Quite crowd Of people are
about the doors VI the Denver Ma
tom. IL was fumored that n run war
In progreg8 there but 1t was soon learned
that the men Of the Union Pacific
employees were simply getting checks
cashod Tor the last months work.
"This bank Ia closed by orders Of tho
board OF directors" IL n notice postod
ut every entrance to the National Bank
II Commerce, The officers inside
refuse admission 20 outsiders. The
condition Of this hank Ia not known M
u did not Print u statement yesterday
a. was done by almost all tho other
banks.
JON II. Hanna Of the City National
said that they were IN as good cOndi.
don ns anybody. Hanna hopes 10 be-
able 10 control enough deposits 10 tile
over. Several OF the principal depOsl.
tors made large deposits this morning
Some who owe tho bank In tho shape
" uOtes hut have clsh deposits had pay
ment fciuGel on their checks. Liabilities
subject TO check are s5sg,S0s. or this
the officials control nearly two-thifde,
NO that the cafh on hand, amounting
to $3.50, 1888, VIII meet the demands Of
this email depositnrs. The Union
National olosod IL doors this morning.
and q notice was posted explaining
that the bank had paid out u million
dollars 10 she depOsilOfs In this last lew
weeks. 10 had realized on securltiul
as rapidly as possibly but not fast
enough. 10 has sl,610,O00
In securities and owes approx.
imatcly half n million. IL II
thought It will be- able ~ realize on
the securities when all the deposltors
will be- paid In full. IL expects to open
ngain soon. The bank's resources con.
sist Of loans anu discount, Sl,692,Ost
and Uoitrd Statcs bonds to ee'
cure n circulation u hundred
nfty thousand; cash and exchange
Sli1 Sos; ovefdrafiH 32,07S, deposit,
sh83. 6hs. Duo other nhuOanal bank
Sl4,u05; state bank SO, sUg; paper out
standing $4,000. President Wood
bury thinks It will reopen.
The Commercial National closed 10
doors when II became evident from tn,
size OF the crowd outside thatA run wal
to be inauguratcd aud notice Wal
posted: "ClOsei for liquidation, by
the order OF the board Of direclors.i
IL has n capital stock Of quarter Of .
million, but only $4,000 cash on hand
At the American National the small
DEF ositors who are not numerous mad,
run. The bank has n million capita
and deals largely with men whI
handle big sum-.
The following are the first reports
received:
PANIC IN DENVER.
DENVER, July ls.-Tho Union Ma.
tloual bank has failed. II has calitn
Of Sl,0JO,000. There Ia no statement
yet.
A run IL now being made on the Gifts
National, German National, Ftfs
National, Colorado National and al
eleven clearing house banks. A
panic Ia on.
Later-Tho Commercial Nationa
has closed ite doors. A notice on ia,
doors sGyt; "rhis bank has gone into
liquidation by order OF the board o.
directOrs."
The National Bank Of Commerce
has closed its doors. Ex-Governor
j. A. Cooper is president OF this bank