Omaha daily bee., 1905-08-10
DENVER BANR CLOSES DOORS
State Institution Announces that Assistant
Cashier is Now Assignee,
BY RUN ON SAVINGS BANK
l.. A. ImbOdeu H. One. of the Princi-
pal Owners of Both Con-
cerns-StOry of Fren-
sled Finance.

DENVER, Aug 9.--The Western bank a
state institution, failed TO open today. A
notice was posted announcing that Henry
NJ. Beatty, assistant cashier of the bank,
had been appointed assignee. w. @. Brown
is president and w. T. Perkins cashier OF
the Western bank.
Up to II o'clock no statement was made
by the officers of the bank. 1t is under
stood that run on the bank was feared
as L. A. Imboden, one of the principal
stockholders Of the Denver Savings bank
on which a run is being made is also in
terested in the Western. The Westerns
deposits are In the neighborhood OF 81, 900, COO
According to the banks statement made
on July 4. 1905. its resources and liabill-
ties had shrunk during the previous year
from S92sSS6 to Ssl6465. The amount Of de-
posits on July l last was s61l676 and the
loans and discounts were S64265S The
banks capital is 10000 and its surplus
$4,000.
Run on Savings Bank.
The run on the Denver Savings bank,
which began yesterday, was resumed today.
There were about 300 people in line when
the bank opened at 10 O'Clock. The bank
continued paying 10 per. cent of deposits.
Vice President F. p Jones made the fol-
lowing announcement
The public is assured. on the honor OF
the management of this bank, that there
10 absolutely no occasion for any uneaal-
ness as to the banks condition. The Dem
yer Savings bank has cash on hand to nav
TO Its depositors every cent due on COM
mercial deposits and all that the savings
ueposltors can call for up to the full limit.
The Central Savings ,bank also expert
enced run, but paid all depositors in full
on demand
Waldron, Thomas g. Blakney, attorneys
FOR the Western pa
noon that there would be no proceedings
In court as an assignment can be made
without application to a court
THE bank was advised" said a member
OF the nrm, Ito make an assignment to
protect itself and its depositors There is
no cause for uneasiness."
The Denver Clearing House association,
1t was announced, had refused assistance
to the Western Bank on the securities Of
fered None Of the Denver National banks
is affected in the least by the embarrass-
ment OF the Imboden institution.
Buys Two Banks without Money.
The Times says:
1mboden is said to have secured control
Of the stock Of the two banks Cthe Western
and the Denver SavinEs) without a dollar
OF investment He bought the holdings
Of former President Whitley of the Denver
Savings bank, which were hypothecated in
New YORK, assuming the Wilfiey notes, It
is claimed. Within the last six months he
ts understood to have borrowed from the
Denver Savings bank $51, 900, with which he
purchased control of the Western, putting
up as collateral with the Denver, the stock
Of the Western.
Mr Imboden is believed to be in st. Louis
trying to raise funds.
H. M. Beatty. the assignee of the West
ern, Is treasurer of the local Order OF
Eagles. few days ago the Eagles drew
out about $4,000, leaving small balance
to cover outstanding checks.
The last statement OF the condition Of
the Western Bank, at the close of business
July 3. 1906 was as follows: