The Glenwood post., 1913-11-29
MESA COUNTY BAlx
CLOSES IT'S DOORS
Ugb huno1s aad eoDressioa
Of Securities Forees h.
sth6sa b ne VAL
WILL REOPEN SOON

Grand Junction, Nov. 2S.-Nueh sur
prise was expressed At the failure Of
the Mesa County National bank to
open its doors this morning a.d .any
small depositOs were panicstrieksa
over the suspension Of what has here
tofore been generally considered one
of the strongest financial institutions
on the western slope.
For several days there have bees
many ugly rumors afloat concerning
the stability of the bank, some Of those
evidently being prompted by prejudice
and personal enmity against Orson
Adams, the president of the institu-
tion, who, because Of his aggressive
attitude in political and municipal mat
ters during the past few years, has
provoked considerable opposition
against the bank, and it is rumored
that during the past ten days deposits
amounting to over 1925 900 have been
withdrawn. This with the recent de-
preeiation Of certain securities held BY
the bank and heretofore considered
gilteiged have operated very seriously
against the ba.k, bet these co.ditions
were not generally known to tAe s0an
depositoss .sr 70 outsiAers.
The Mesa County etate ba.k vas
establisAsd nero tAaa Is yean ego
and for many years was costly In ~
lad It Al bs.hiag i.sGiAalisas b NasA
eSsaS essas1s- n yiass
ago change was nads to . nstieaal
bank ard the name changed. The Or
der for . temporary suspension came
from the comptroller Of the treasury
At Washington and Walter W. Smith,
national hank examiner, has been
placed in charge.
Among the heavy stockholders Of
the bank are Orson Adams, A. r. and
]. NJ. sAmpliner, DR.. Bull and other
leading business men of the city. A
reorganization is under way and it is
said that the hank will reopen its
doors within the next two or three
weeks. President Adams, who has
tried very hard to avert the trouble,
saws that the depositors will not suffer,
but will he paid in full. The people
here have full faith in Mr. Adams
business ability and, after the first
shock, they have rallied to him in most
loyal fashion. It is felt that the fail
ure is in no way reflection upon local
business conditions which have been
very good this fall, but due to the
hank being deceived in . large amount
of securities and unkind rumors due to
personal prejudice against Mr.. Adams.
Orson Adams is well known in Glen
wood Springs where he is regarded as
one Of the shrewdest business men in
the state. He is thoroughly familiar
with the banking business and it has
always been supposed that his bank
was lOuhueu upOu . Sciy rVAu "
foundation. Mr.. Adams has always
been = very aggressive character both
in . political and business way and .
man Of very positive ideas The Post
is pleased to note that the business
men Of Grand Junction have shown
such great faith in Mr.. Adams in this
unfortunate AFFAIR and that they pre-
diet thst Ae will pay sepositors in fun
and still make q success Of the baak-
ing business.
1t is not known here just what are
the securities referred 70 above - hav-
ing weakened the hank, but It 10 knowa
that Mr.. Adams has been heavily inter
ested in the Grand Jnuetion street AAd
interurban railway and other local ia
dustries and it is presumed. that tho
bank became involved pretty heavily
in these enterprises. The bank is eaf-
italized at 800 600, but no statement
has vet been made as to the amount Ct
the shortage.
Miss Allen rsfuYuNd last 9uudnv