The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-04-23

Denver. April 22.-The American Ma
tional bank failed to open this morning.
The following notice was posted: This
bank has closed its doors by vote OF its
directors, and is In my hands, as repre-
sentative of the government Zeph r
Hill." The failure does not come q a sur
prise or indicate any lack of confidence in
the general business situation. The con-
dition Of the bank has been weak for a
long time, because Of internal dissensions.
The retirement from the directorate and
sale Of stock by several wealthy men mate
rally reduced the business of the bank.
At the last report. made at the close OF
business March 6. the .otal deposits were
N.El.s5l: loans and discounts, H.f2s I'll:
cash on hand. se32. .es5. The capital stock
is $4,000 surplus $4,000. The assets
amount TO s2.245.l73. and il is claimed there
VIII be little trouble realizing on them
The following statement was taken from
the books Of the American National bank
this morning: Resources, cash and ex-
change, sIo,So; bills receivable. sl.o7s. 600;
stocks and securities. SOS 4s5: real estate.
slas.5so; excess on circulation, So, 600; total,
I572, 325. Liabilities: Individual deposits.
$3.50. si2: demand deposits. SIS sss: time de-
posits, $50, 81; due to other banks S97 0ef:
borrowed money. SIC. 500: total. sscs. .2s1. A
comparison OF this statement with that
published in March shows that the banks
deposits and reserve have declined very
rapidly. Over $4,000 was withdrawn on
Monday and Tuesday of this week, and.
there being only S7o.0oo left the directors
decided that the best thing to do was to
close the bank. Beside the resources given
above there are notes for $500 900 set aside
for the recent reduction Of the capital
stock from 81 .eooo coo 10 500 600 and a fifth
interest in the Strong mine at Victor The
president of the bank is John r. Hanna.
TkA
leading men of Denver, including File p.
Ernest, William and Moritz Bar,h. Mitch
ell Benedict. George w. Bailantine and
T. j. ODonnen. In consequence OF the
failure run has been started on the Ma
tional Bank of Commerce.
John r. Hanna. president, and Howard
Evans. cashier of the American National
oank. were arrested late this afternoon on
warrants sworn out In Justice Chapman's
court. charging them with receiving de-
posits after the bank was known to be in
a falling condition. Both were released
OF bonds.
The run on the National Bank of Com
merce ended about noon. All the demands
were promptly met At the other banks
the deposits exceeded the withdrawals
President John r. Hanna, Of the ameri-
can National bank. in a published state
ment over his signature. said: The
shrinhage OF deposits ard but cornpara-
fively few new customers 70 replenish the
loss and the inability TO collect our bills
resulted In our inability to continue our
business / believe the depasItors will
eventually receive the entire amount di.a
them. We have sG0, 90 In excess of assets
exceeding ctr capital over our liabilities
Tbs stockholders also may be assessed
Sapaoro more IL necessary to pay the iepos-
Scrs- With thus surplus l cannot see
any loss 10 them
y. r Noffat, president os the First Ma
uonal bank. said the failure was a weed
inS-out process which would rot have anv
serious effect The Denver clearing bousa
offered TO advance 500 on to tide the hank
over the crisis In rs affairs. provided the
leading directors and stockholders you,t
herorne responsible for the sum hy sign
.fl- me necessary papers. II is saiJ that
none o. them except Thomas Patterson
Woild agree TO this. II vas then da.i.3as
70 close the Institution.
Chicago. April Z.-The Mason & Davis
Company, manufacturers Of stoves sra
ranges. failed today. and made Jobn
Whirl assignee. The assets are S71.aso La
hilities sG7.ea
Syracuse, y. Z. April TT AIC q
Miller manufacturers Of knit goods a,
bald~tnsville. have shut down their vo-ls
and made general assignment to Thonas
ii Benton Crane ard Wills Wendell Tha
miA gave employment 70 80 people. Pref
erences ara made for So 90 exe,uss,-a a.,
interest and pay Of employees.
6sncfrnatf. April 22-The firm ~ ~-,,-
ford. F,versole & Smith has ase,en,5 =,
n II. Wcoamanses. The Iiar3Iitses -
ssoo oo,'a. assets sl.fsaeo The nrrn sY~s..s,,. .
~ Smith q Nixon. which was establi-hes
in iSes