Semi-weekly herald., 1907-12-16
pnrnngo. Colo. pec. Il. lpol

| Durango Colo Dec 49, 1907
| To Our Depositors and the Public
| After twenty-five years, nearly, of
honorable existence. the Colorado
State bank of Durango has suspended
ana has placed It's affairs in the hands
OF the state bank commissioner.
The officers and directors decided
this action to be best In the interests
OF all concerned
| The causes leading TO this suspen-
sion are primarily the sense OF up.
| easiness created throughout the ellen.
tele of the bank by the Indictment
last June OF the president of the
bank and One of its directors. and ~
well of the manager of its office at
| Pagosa Springs. These indictments
as is well known were for alleged
| conspiracy. etc, against the govern.
| ment in which are called coal land
| frauds: and in the case OF Mr.. Hump.
ton OF Pagosa Springs. In which are
termed stone and timber lands.
| These indictments were heralded in
| terms most flaming. unjust and without
| regard to faets by the press. even as
the Indictments themselves were no
more warranted than II would he to
thus lnilict Injury upon any citizen
or institution doing business In usual
manner
In May the bnnk sold It's interest
In the Montezuma canal It's heaviest
asset and naturally thought the re-
ceipt OF this large sum in undoubtedly
| good paper. maturing In the fall made
| its position of the hest The financial
stringency came on. and outside OF
20 per cent paid in cash. this paper
could not be met by the makers, and
has therefore been unavailable In
| meeting the continuing shrinkage In
deposits under the existing times. and
other causes mentioned
The bank will be found to have been
| handled In an absolutely clean and
upright manner. no officer employe
director, or even shareholder with two
exceptions. being indebted TO II for
| penny but on the contrary being de
| posltors themselves and not hesltating
In It's needs to back II individually to
| the extent of their abilities.
It's bills receivable win he found cx.
cellent. its properties clean. paying
IN nearly every case. and OF high
value and character.
In total We believe II to be abBo.
lutely certain that its assets viii pay
every dollar owed and leave large
excess for the stockholders. without
calling upon them for any assessment
under the law existing ms individual
liability In cases where the assets OF
a bank are deficient.
| We believe the assets to be Of such
value and condition that upon the ar
rival OF the bank commissioner and
his examination, plan for resumption
date.
In the light OF the above candid a1d
honest statement. while feeling be
yoDd words to express. not merely oui
condition personally but more strong
Is the Inconvenience ald discomfort
imposed upon the customers ana
friends who have so long been with ns
We feel we may bespeak your in
diligence. your confidence and YOU
aid in bringing out n happy issue a
the earliest possible date and In th'
most complete manner possible.
Respectfully yours.
BENJAMIN N. FREEMAN.
President.
WILLIAM C. CHAPMAN.
;. Vice President.
w r.. FARIS.
Assist Cashier.
FRANK ELDREDGE,
3, Director
g c. Il. HAMPTON.
Director
Every time anything disag e .tt
happens to married man his viii