The silver blade. (Rathdrum, Idaho) 1895-1903, 1896-04-25
BIG BANK FAILURE IN DENVER
American National Forced to Go out
OF Business.

Denver. April 22.-The American Ma
tonal bank failed to open this morning.
The following notice was posted
This bank has closed its doors by q
vote of its directors. and is In my hands
as representative Of the government.
''ZEPH +. HILL"
The failure does not come as sur
prise nor indicate any lack Of confidence
in the general business situation. The
condition Of the bank has been weak
for long time because of internal dis
sensions. Retirement from the director
ate and sale Of stock of several wealthy
men materially reduced the business OF
the bank. At the last report. made at
the close of business March 6, the total
deposits were 81. ,951; loans and dis
counts, N,128,2n; cash on hand $500, 265.
The capital stock is $5OO,OOO surplus $780,
OOo. The assets amount to 1924 .173. and it
Is claimed that there will be but little
trouble in realizing on them
The following statement was taken from
the books of the American National this
morning: Resources-Cash and exchange,
$4,000; bills receivable, 81, O7S, 900; stock and
securities, 1855, ABS; real estate $136, $50; ex-
cess on circulation, $22 900: total s, ST. SSss55
iabilities--Individual deposits, $53O.71
demand deposits, $2S,69S; time deposits.
$66297; due to other banks $97,024; Dor
rowed money, $142,5 800; total $685., 231.
A comparison of this statement with
that published in March shows that the
banks deposits and reserve declined very
rapidly. Over 100000 was withdrawn
Monday and Tuesday of this week, and
there being only $4,000 left the directors
decided that the best thing to do was to
close the bank. Besides the resources CIV
| en- there are notes for 100000 set aside for
recent reduction Of the capital stock
| from 100000 to $500, 600 and fifth inter-
| est in the Strong mine at Victor.
! The president of the bank is John r.
| Hanna. The directorate consists of some
| of the leading men of Denver including
P. Ernest, William and Moritz Barth,
Mitchell Benedict, George w. Ballantine
and T. J. O'Donnell. In consequence of
| the failure a run has been started on the
| National Bank of Commerce.
| d. H. Moffatt said of the failure of the
American National bank today that it
| was a weeding-out process which would
| have no disastrous effect. The Denver
houses offered to advance 100000 to tide
the bank over the crisis in it's affairs, pro-
! vided the leading directors and stockhold
| ers would become responsible for the sum
by signing the necessary papers. It is
said that none Of them except Thomas NJ.
| Patterson would agree to this. 1t was
| then decided to close the institution.
/ John B. Hanna, president, and Howard
| Evans, cashier, of the American National
bank, were arrested late this afternoon
on warrants from Justice Chapman
court charging them with receiving depos-
it's after the bank was known to be in a
failing condition. Both were released Oh
bonds.
STOVE MEN IN TROUBLE.
! Chicago, April 22.-The Mason IL Davis
Company, manufacturers of stoves and
ranges, failed today. and made John j.
Whirl assignee. The assets are $73 900.
liabilities 500, 900.
MILL SHUT DOWN.
Syracuse, April 22.-T. c. and j. e.
Miller manufacturers of knit goods at
Baldwinsville, have shut down their works
and made general assignment to Thorn
as H. Renton, Crane and Willis Wendell.
The mill gave employment to 200 people
The preferences are made for $66, 900 ex-
elusive Of interest and pay of employees.
CINCINNATI FAILURE.
l. Cincinnati, April 22.-The firm Of Craw.
I ford, Ebersol &, Smith has assigned to ID.
d. Woodmansee. Liabilities 100000, assets
81, 900 600. The firm succeeded Smith 4
Nixon, which was established in 1928.
| THUy InNAA pnpUIES,N rnNXlINTunN