First National Bank (Denver, CO)

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Episode Information

Episode UID
101601123
Episode Type
Run Only
Bank Type
national
Bank ID
10160 national
Charter Number
1016
Start Date
July 18, 1893
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7300406cd3051f85

Response Measures

Accommodated withdrawals, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

Events (2)
1. April 17, 1865 Chartered
Source
historical_nic
2. July 18, 1893 Run
Cause
Local Banks
Cause Details
Run triggered by failures/suspensions of other Denver banks and ensuing panic/rumors after several savings and clearing-house banks failed to open.
Measures
Continued to pay checks and meet withdrawals; maintained large private fund to satisfy depositors.
Newspaper Excerpt
The First National appears to have been in an unexceptionable condition, having over sixty per cent of the deposits on hand with a private fund of $1,500,000
Source
newspapers

Newspaper Articles (23)
1. July 16, 1893 Tombstone Epitaph Tombstone, AZ
Article from Tombstone Epitaph, July 16, 1893

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IZONA. SUNDAY, JULY 2: ge NEWS BY WIRD it me Great numbers of Mexican parrd Ve are being imported through Lare itfor sale at the World's Fair. er One thousand negro men were p e ; on the cars at Birmingham last nigi efand started for Kansas to take tl by, place of the striking miners. ket Several attachments were issue old last evening against Denver busine ily houses, the principal ones being th silRoberts Hardware company and th ind Livermore Wayne Lunber Co. in a the The Kansas Bi-metallic convention wo convened at Topeka yesterday after ennoon in representative hall with SEV nd eral hundred delegates in attendance Dy There will be no more bank failure to in Denver. The panic wore itself ou are yesterday with the failure of the Pec We ple's, German and State National in banks. This morning when the Firs me Colorado. Denver, City and America kopened their doors there was hardly It dozen customers in all of them at th use paying tellers' windows. bly Information has been received fror ue Pekin to the eff ct that China ha taken measures to support Sia: against the French, Siam has fc fer many years paid tribute to China. bu ur only as a matter of usage or conver ience, and it is now apparent the ilt China is determined to assist th :Siamese against the French encroach as ments upon their territory. as A conservative estimate of the me be discharged by railwave, mines, busi at ness houses and factories since th of silver panic started places the number in at from 12,600 to 15,000. It is als Irestimated that Colorado, Utah, Mon ty tana and New Mexico merchanti by have countermanded orders on Nev d York wholesale houses for goods dur. flu ing this time amounting to over 1e $12,000. e. The Santa Fe management he a just unearthed extensive frauds of d that division of the road included be :tween Topeka and Chicago, Th ly frauda, it is said, have resulted in se loss to the road of $17,000 a month 1The conspiracy is far reaching in i h ramifications and includes, it is said of various officiale, from assistants to th division superintendents, down to th section bosses.

2. July 18, 1893 The Jersey City News Jersey City, NJ
Article from The Jersey City News, July 18, 1893

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EXTRA! DENVER'S BANK PANIC Three More Collapse and Rumors Are Rife on Several. DENVER, Col., July 18.-The Union National Bank, of which R. W. Wood, bury is president, failed to open its doors this morning. The capital is $1,000,000. No statement can be bad. A run is now being made on City National. German National, First National, Colorado National and all the eleven clearing house banks. The panic is on. DENVER, Col., July 18, 1893.-The National Bank of Commerce has closed its doors. Ex.Governor Job A. Cooper is President of this bank. DENVER, Col,, July 18, 1893. I The Commercial National Bank has closed its doors. A notice says:-"This bank has gone into liquidation by order of the Board of Directors,"

3. July 18, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 18, 1893

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THE PANIC IN DENVER People Needlessly Excited - The Banks Paying the Depositors. DENVER, Col., July 18.-No scene was ever witnessed here before like that this morning shortly after the hour when the banks opened for busi. ness. The failure of three savings banks yesterday had excited the missses, and at the hour of opening, the streets were crowded with anxious depositore. Eleven clearing house banks, located within four blocks O each other, were surrounded and far into the streets the crowd gathered till the police was called on to clear the way for traffic. At 10 o'clock the Union National, with is capital of a million dollars. posted notice that they would not open the doors. This started a panic and following quickly the Commercial National posted a similar notice. Then the National Bank of Commerce. A run was immediately started on all the other banks, though to 110 great extent on the People's National. The First National appears to have been in an unexceptionable condition, having overeixty per cent of the deposits on hand with a private fund of is million and a half in addi.

4. July 18, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 18, 1893

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The failure of two banks at Denver today was raised by rumor in this city to the collapse of eleven, or all the clearing house banks. The latter report doubtless arone from the fact that a run was being made on all of the banks, but with the exceptions noted they stood the pressure.

5. July 19, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 19, 1893

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AT PANIC DENVER. Four Banks Compelled to Suspend. ALL THE OTHERS SUFFERED. Flurried and Weak Disqui- at New Stocks York on Account of eting Rumors. special to THE MORNING CALL ever was scene here witness hour when DENVER July 18.-No that this the morning, banks of failure shortly after for the business. yesterday The had excite streets three opened savings banks at the hour remaining of opening banks the wded were cro banks, the masses. in front and with anxious of the depositors. locate Clearing-house each other, were S until Eleven four blocks into of the street called crowds to within rounded, and far the police were gathered elear the way for the traffic. Union National, notice with that At 10 o'clock $1,000,000. posted a doors. The notice capital of open their had paid to depositors on they would explained not that the in bank the last few securities rapidlyas possible. and the panic weeks $1,000,000 and had realized but enough. few minThis started it utes became from when later, apparent on of the the the size crowd gathering inbe to run was that about sidewalk the closed National Commercial "Closed notice of augurated doors and posted order this of stock the board of $250,$2000 its for liquidation has by capital cash on hand. National Almost Commerce of the order 000. directors." There simultaneously is only suspended the payment. board is entrance Bank "This bank of is closed the notice by Commerce. posted at every The inside officers refused is this of directors, the Bank of admission to out- not bank condition yesstatement as other terday, known. siders. as The it was did done not by almost all of the noon were these the banks only it were suffering to suspend banks. Up failures, to the hour and was though hoped all that that no more hour, Bank. private with a institution by called it however, would be forced the Mercandie capital of $106.000 that of failed the cleared. after The failure National, was through demand which unabated upon the when 'clock. Union The excitement money and continued it subsided State Utah until banks about banks 2 except the National, instead where of depositors two National all the and seemed the German to increase asbanks more Bank aiminishing. Late this afternoon North Denver of Savings Stephens Savings & signed- the bank Capital 11a. Bank. the private as the assets or are filed. and Hanchett, No knowment statement of The the deposits bilities has to beer have been heavy. of the Clearingwill not President thought J. A. confident to-day people will house worst "I of am this and the meeting decided of the we could see come the to their senses. last night we and o some of them have gone have security ample Clearing-house not help the to the banks wal' All of to protect them, at unfortung is what this time of the majority all I believe. the depositors. cash people But not security are clamoring in unexcep of cent the for. First National having appears over private 60 per of fund $1,500,000 The condition. on hand. with a to draw it possible tionable deposits in addition close their and sevNational upon, making Colorado City National doors. The are equally of good. the as anysaid they hopes Hanna tide eral John others P. were Hanna in good be condition able over control the deposits depositors enough body Several of the of the this morning, notes. Some bank. made large deposits bank in the had shape payment reto check, who owe cash the deposited, Liabilities officials subject but have their checks Of this the cash nearly control two-third hand, $333,338, fused on $589,808. thirds so that will the meet amounting of small depositors. of consist and United Loans to ation, States bonds and cash on the The demand Union discounts Bank's $1,622,689 $147,566 $150,000; due exchange deposits. $32,078; overdrafts, State Bank, other banks, national $170,000 $29,809; the bank outstanding woodbury President will reopen. on by the banks scared drain Constant It about crisis. brought depositors no by less than stated bankers the from was banks drawn $8,000,000 Of a this the last three during is up city. least $5,000,000 were side While the feel the business bankommunity of the and hour shortly distress, the for Drybusiness McNamara the one largest houses open an in the attachment unThe liabilities The known. failure for the by Bank Goods West, was are closed $250,000; vas caused assets by attachUnion ments National The $20,847. $71,780: Colorado National, of had the ivate latter president an of and officer claim Sheedys. for in the $40,000. Denver $25.00 of Nabig Me the the failure Following other house mermara dry-goods were They failures cantile announced. the Mouat John Lumber Company. the on German National for restau Albert Nelson. Bank $155,200 of and with rant saloon, $111,510. M. Noah, $96,725; liabilities of with assets house. $40,000 furniture with firms other Three $16,000. liabilities also of failed. liabilities ON THE ECKELS SITUATION. a at the Comptroller New of York Banquet.

6. July 19, 1893 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, July 19, 1893

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Financial Panic at Denver. DENVER, July 19.-The Union National bank failed to open its doors yesterday. The capital is $1,000,000. A run is now being made on the City National, German National, First National and Colonial and even the clearing house banks. There is a panic in financial circles. The National Bank of Commerce and the Commercial National bank have closed their doors.

7. July 20, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 20, 1893

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years' standing. and the equally reputable State National failed to open their doors for business this morning. Later the People's National failed. All night long depositors stood in line in front of the German National, and by 9 o'clock there was one long sea of faces stretching down the street. At the opposite corner. where the State Bank has long done business, there was also quite a crowd of anxious depositors await. ing the opening of the doors. Here the people were relieved of their agony at a few minutes after o'clock when a notice was posted on the door to the effect that the bank would not open, owing to the lack of ready cash, and the crowd moved away. At the German National there was evidently & determination to go ahead with business up to almost the last moment, when a slip of paper was pasted on the window stating that the doors would remain closed temporarily. Then the scene became distressing. Men and women down the long line broke out into tears and wailing. By this time there on bank 11) the city, and the announcement BOOD was a came run every that the Peo. ples' National Bank had closed its doors. The notice on its doors read: "This bank 18 closed by order of the Board of Directors. Net assets. $1,000,000; liabilities. $310,000." The assets and liabilities of the other two failed banks bear about the same proportions as those of the People's Bank. Their failure is chargeable to the longcontinued drain by depositors and 111ability to raise ready cash. All expect to resume shortly. Frank Adams, Bank Examiner. to-day took charge of the Union National, Commercial National, National Bank of Commerce, State National, and German National. This afternoon the run at the Denver National was over, with an enormous amount of money still in sight. The same was true at the City and all the other banks. and the business.men are beginning to breathe freer. There has been a considerable number of failures among business houses of all kinds within the past three days. caused by attachments taken out by banks which foresaw their suspension. Five national banks are still open. VARIETY OF EMBARRASSMENT. DENVER. COL. July 9.-Among the fail. ures that almost escaped notice was that of the Bank of North Denver yesterday afternoon. Business firms whose embarrassment has become known range from liquor-saloonstostreet.railroads. in the list drugstores. lumber companies, Thereare gentlemen's furnishing houses, milliners, coal companies, dry-goods houses, jewellers, ready-made-clothing dealers, tailors, and grocers. Two bank failures are reported at Aspen and one at Loveland Commercial failures are also reported from many points in the State outside of Denver. due principally to the fact that the sufferers deposited in Denver banks which have suspended. TROUBLE AT GREELY, GREELY, COL. July 19.-The Union Bank closed its doors at 1 P. M. to-dav. and a half hour later the Greely National pulled down its blinds and turned the key in its door. The Union's statement says that owing to the suspension of certain Denver national banks which had on deposit several thousand dollars of its money and the fact of a steady withdrawal of deposits-about $30,000 the past ninety days-they were compelled to suspend business. They say their liabilities are about $100,000 with assets and paid-up capital amounting to $300,000. As the fact of the suspension of these known a SOOD banks as became steady Bank, run but was it made on the First National continued to honor all checks and drafts, and even after the regular closing hour cashed two checks presented, Colorado Banks Assign.

8. July 20, 1893 The Western Sentinel Winston-Salem, NC
Article from The Western Sentinel, July 20, 1893

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A Panic. DENVER, Col., July 18.-A regular panic has been experienced in this city today. The first failure announced was that of the First National Bank, with a capital of $1,000,000, which precipitated a run on the City National, the German National and all the clearing houses. The National Bank of Commerce closed,

9. July 20, 1893 The Waco Evening News Waco, TX
Article from The Waco Evening News, July 20, 1893

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FAILURE OF DENVER BANKS. The Panic is Ended and no More Failures Expected. By Associated Press to the News. DENVER, July 30.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, the German and the State National banks. This morning when the First, Colorado, Denver City and American National banks opened their doors there was hardly a dozen depositors in all of them at the paying tellers' windows. In the First and Colorado National banks a long string of depositors, reaching nearly to the street, were lined up in front of the receiving tellers' windows, and money was going back into bank vaults almost as rapidly as it was withdrawn du ring the last three days. The German, State and People's National banks could pay three dollars for one if they could realize on securities. There may be a few commercial failures in the city within the next few days as the result of the suspension of the banks, but it is believed that in no instance, whether a banking or commercial house, will the failure be complete and the re. sumption of business will surely fol!ow shortly. It is stated today that the MeNamars dry goods house, which failed Monday for $260,000 have settled with their principle creditors and will resume business Monday.

10. July 21, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 21, 1893

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A WONDERFUL EFFECT. Assurances of Eckels Greatly Restore Confidence at Denver. DENVER. July 21. - -The cheering news from Washington has had a wonderful effect upon Denver. The dispatch from Comptroller of the Currency Eckels to the effect that he would give every possible aid to the banks of this city is applauded on every side. Bank Examiner Adams, to whom the telegram was addressed. is besieged by excited people anxious to hear a confirmation of the good report and to get an expression from him. Mr. Eckels comments on the foolish course of those Denver citizens who had lost confidence in the banks. The newspapers are running off extras announcing the news and already things begin to Wear a Brighter Aspect. The officers of the several closed banks all notify the public that they will be able to pay every cent due to customers. But in some cases it will take some time to realize on securities. It is learned that heavy withdrawals have been made from several of the banks during the past few months which would indicate that some of the farseeing ones anticipated trouble such as has come upon the city in the past few days. It is noticeable that very few of the merchants or business men of the city withdrew their deposits. The newspapers feel greatly the distress, every daily having curtailed expenses. Difficulty in making collections is given as the cause. Opinion of Examiner Adams. Bank Examiner Frank Adams, who came up hurriedly from Pueblo to look into the condition of affairs, said that so far as he had been able to make an inspection of the suspended banks he did not believe that their condition was so serious as many were led to believe. He would, however begin at once a thorough examination of the several institutions, and would in a few days be able to make a more satisfactory report. The opinions of leading financiers in the East to the effect that the crisis would soon be passed will doubtless have a beneficial effect in restoring confidence among the people here. Those banks that have not suspended are transacting business as usual. President D. H. Moffett of the First National is greatly pleased with the news from Washington, and predicts an early resumption of business.

11. July 21, 1893 The Sun New York, NY
Article from The Sun, July 21, 1893

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HELP FOR DENVER BANKS. COMPTROLLER ECKELS WILL GIVE THEM ALL THE AID HE CAN. Ec will Grant Them Time to Collect oney to Start Again-The News Halled with Joy in Denver Many People Putting Their Money Back in the Banks Sun Open-A Sharp Brenk in General Electric the Feature Yesterday in Wall StreetThe Army of Unemployed is Very Large. WASHINGTON, Jul" 20.-Comptroller Eckels. immediately on his return from New York this morning. addressed to Frank Adams. the Nntional Bank Examiner at Denver. a despatch defining the policy of the Administration with reference to insolvent national banking institutions generally. as follows: "I wish you would announce to the officers the banks which have failed in Denver that my intention to lend them every aid possible looking toward speedy resumption on their part. and that I shall grant to them sufflcient time to enable them to not only collect in such amounts as are speedily collectible. but to get together such amounts of money as will enable them to open upon a small basis. It seems to me that such citizens as have by a foolish course of conduct in withdrawing deposits from banks which so long enjoyed their complete confldence. and brought about this condition. ought. in view of the damage they have done their city. as quickly as possible to repair it by standing ready to deposit with them. I fully appreciate all the circumstances of the situation. and. that no unnecessary loss may be entailed. you are authorized to employ as assistants. to protect paper and collect in moneys. the most competent and trustworthy employees in such institutions. I have also ordered Examiner McHugh of Iowa to report at once to assist you. I desire that this telegram be given to the press at Denver. evidencing as t does that the Comptroller has faith in the ability of the banks of Denver to resume. and of his desire to lend them every assistance consistentwith his official duty. When asked to express more fully his views the condition of affairs. Mr. Eckels said the failures on in Denver yesterday. like a number of other national bank failures. were caused by no fault of the bank officials. but through a foolish and uncalled-for lack of confidence on the part of depositors. It in my intention." he said. where a bank has been properly conducted. and whose assets under ordinary circumstances would have permitted it to remain solvent. to give the institution every opportunity to resume business. Allthe Denver banks that failed were well conducted. and every opportunity will be given them to reopen. The people who have caused the Denver disaster by foolish runs should do all they can to help the banks resume. Notifications of two more failures reached Mr. Eckels this forenoon. The unfortunate banks are the First National Bank of Harriconville. Mo which went under this morning. and the Oklahoma National Bank of Oklahoma City. Oklahoma. which closed its doors yesterday Comptroller Eckels's efforts to secure a reopening of the insolvent Chemical Bank of Chicago have failed. This morning Mr. Eckels received the following telegram from the Chemical Bank Committee: After long. patient. and earnest efforts. the committee of the stockholders of the Chemical National Bank of Chicago has concluded that resumption is not practicable at this time. At first the problem seemed easy. but the many financial disasters throughout the country have excited the public and produced unusual cath tion. and made it very difficult to collect outstanding bills or raise money by usual processes. The conditions Imposed by the Comptrol or were well received. but the present stringency seems an obstacle too serious to be overcome by the stockholders. DENVER. July 20.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's. German, and State National banks. This morning. when the First, Colorado. Denver. City. and American Nationals opened their doors. there was hardly a dozen depositors in all of them at the paving tellers' windows. In the First and Colorado Nationals along string of depositors reaching nearly the street were lined up in front of the reselving tellers windows. and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German. State. and People's (nationals) could pay $3 for $1 if they could realize on securities. There may be a few commercial failures in the city within the next few days. result of the suspension of banks. but it 16 believed that in no instance. whether a banking or commercial house, will the failure becomplete. and that resumption of business will surely follow shortly. It is said to-day that the McNamara dry goods house. which failed on Monday for $250,000. has settled with its principal creditors. and will resume business on Monday The cheering news from Washington has had a wonderful effect upon Denver. The despatch from Comptroller of the Currency Eckels to the effect that he would give every possible aid to the banks of this city is applauded on overy side Bank Examiner Adams. to whom the telegram was addressed. is besieged by excited people anxious to hear a confirmation of the good report and get an expression from him. Mr. Eckeis's comments on the foolish course of those Denver citizens who had lost contidence in the banks are strongly commended. The newspapers ran off extras announcing the news. and already things begin to wear a brighter aspect. The officers of the several closed banks all notify the public that they will be able to pay every cent due to customers. But in some cases it will take some time to realize on securities. It is learned that heavy withdrawals have been made from several of the banks during the past few months. which would indicate that some of the far seeing ones anticipated trouble such as has come upon the city in the past few days. It is noticeable that very few of the merchants or business men of the city withdrew their deposits. the run being made principally by the working people and poorer classes of customers. The newspapers feel greatly the distress. every daily excepting one having curtailed expenses by reducing in size or using largertype. The closing down of many silver mines, smelters. and the reduction of the working forces of coal mines. railways. and manufactories in this State has, however. caused a deplorab condition of affairs among the laboring classes. It WAS estimated that to-day there 10.000 men in Denver unable to secure

12. July 21, 1893 The Sun New York, NY
Article from The Sun, July 21, 1893

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liabilities are believed to be covered by the assets. CHICAGO. July 20.-It was said in court today that the assets of the suicide banker. Herman Schaffner. would not pay over 12½ per cent. of the liabilities. Judge Tuley this morning appointed N. H. Culver receiver for the Commercial Lumber Company of Havenswood. The concern was incorporated in 1891 with a capital of $30,000. It is declared that the assets are in excess of the liabilities. SAN FRANCISCO. July 20.-Attachments have been filed against the Union Stock Yards Company. whose meat packing establishment is at Rodeo. These claims are said to be preliminary to larger suits by Eastern holders of the company's bonds. The plant has practically shut down. It cost $1,000,000 and Was started on May 15. Attorney-General Hart has decided that the People's Home Savings Bank. which closed a few weeks ago. is solvent, and recommends that if the bank can make sufficient collections within a reasonable time it should do so. SAN BERNARDINO. Cal., July 20.-The national band examiners who have been! looking into the affairs of the First National Bank of this city have made a report to Comptroller Eckels. recommending that the bank be allowed to open at once. They say they find the affairs of the bank in good condition. ASHLAND. Wis., July 20.-The Northern Manufacturing Company. manufacturers of hard wood. assigned yesterday. Assets. $60.000: liabilities unknown. The failure is due to the recent loss of the factory by fire. TACOMA. Wash.. July 20.-S. B. Dusinberre. cashier of the Bank of Puyallup. who was arrested forthe emberglement of $41,000 and released on bail, has been rearrested on a second charge of embezzlement. Ho was held in $15,000 bail. in default of which he went to jail. DENVER, July 20.-The First National banks at Cañon City and Grand Junction. this State. failed to open their doors this morning. The failures were caused by the suspension of the Denver banks. TOPEKA. Kan., July 20.-Notice of the failure of the Bank of Belleville. Republic county. has been received at the State Bank Commissioner's office. It was a private bank with a capital of $20,000.

13. July 22, 1893 Arizona Silver Belt Globe, Miami, AZ
Article from Arizona Silver Belt, July 22, 1893

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The work of closing Denver banks by excited depositors may be said to have been effectually completed. The night of the 18th, the city was agog, and but few retired to rest. Streets in the vicinity of banks were crowded with people many of whom stood in line in order to maintain a position which would favor them in reaching paying tellers' counters at the earliest possible moment, but the night's vigils did not avail them. Before the hour for opening notices were posted on doors of banks that on account of exhaustion of ready cash, consequent upon the previous day's run, the bank would not open and thus it stood, at latest dates. This is not the worst feature of the depressing influence that encompasses Colorado. Mines in every part of the state are shut down. Leadville is as pulseless as a graveyard, and some of her best paying mines are virtually abandoned by the withdrawal of the pumps and consequent ruin by reason of accumulation of water, which in a brief period fills every shaft, tunnel and drift.

14. July 22, 1893 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, July 22, 1893

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BANKS IN DENVER FAIL. Denver, July -The Union National bank, of which R. W Woodbury is president. failed to open its doors yesterday morning The capital is $5,000,000. No statement can be had. A run was made on the City National, German National, First National, Colorado National and all the eleven clearing house banks. The Commercial National bank and the Na tional Bank of Commerce are also closed. Ex-Gov. Job Cooper is president of the last named bank.

15. July 22, 1893 Morning Journal and Courier New Haven, CT
Article from Morning Journal and Courier, July 22, 1893

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CONFIDENCE IS RESTORED. Banking and Commercial Houses in Denver Resume Business- Merchants and Bankers Meet and Declare for Free Coinage of Silver. DENVER, Col., July 21.-Confidence in the Denver banks and the commercial houses is being restored in the east and at home with nearly the same rapidity that our people attempted its destruction for the first three days of this week. There has been no suspension of magnitude for two days and no more are expected. The banking houses have determined that they will push no creditor nor serve any attachments upon those who show an honest disposition toward settling. Times will probably be hard here until congress meets, and it is predicted that if silver then receives fair treatment it will not take long to place Denver and Colorado far in advance of where they were when trouble came. President D. H. Moffatt of the First National bank has received a telegram from one of the leading banks of New York offering assistance if needed. Mr. Moffatt replied with thanks that he had more money than he needed. Other houses have had offers. It is understood that the German and State National banks have received large sums of money and will be ready to open their doors again within a very short time. Comptroller Eckels' telegram to Bank Examiner Adams was opportune and did untold good. Mr. Adams is of the opinion that all the closed banks can settle in full and have & balance left. It will be some days, however, before he can prepare his statement. The commercial houses that went down with the banks are in equally good condition. The Hallack, Sayre, Newton Lumber company, which assigned Wednesday with assets of $600,000, resumed business to day. The Flanders Dry Good company, which closed for $200,000, have also resumed. Many others will follow shortly. The merchants and bankers to day issued a card to the public in which they declare their faith in Colorado's future, and that the present tronble is but temporary. They regret the violent utterances recently made by excited individuals and declare that these do not represent the people of this city or of the state. They conclude by declaring for free coinage of silver and ask all members of congress to aid them in securing this at the coming extra session.

16. July 22, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, July 22, 1893

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COMPTROLLER ECKLES showed the right spirit when he announced to the officers of the Denver banks that he would lend every possible assistance in order that they might resume business at an early date. He fully appreciated the fact that these banks were closed not because of the lack of sufficient capital or bad management, but simply because of a run of depositors who could neither be advised nor restrained. Under these conditions the comptroller is entitled to all credit for his efforts as an officer of the government to bring business back into its legitimate channels.

17. July 25, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, July 25, 1893

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RUN ON DENVER BANKS. One Closes Its Doors and There is a Run on the Others. DENVER, Col, July 18.-The Union National bank, of which R. W. Woodbury is President, failed to open its doors this morning Capital, $170,000. No statement can be had. A run is now being made on the City National, German National, First National, Colorado National and the eleven clearing house banks. The panic is on.

18. July 25, 1893 Southwest-Sentinel Silver City, NM
Article from Southwest-Sentinel, July 25, 1893

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LAST week was a bad one for the banks of Denver. Depositors had been drawing their deposits for weeks and a number of the banks were in bad condition. The failure of three savings banks precipitated a run on all the banks in the city and there were several big failures.

19. July 27, 1893 River Falls Journal River Falls, WI
Article from River Falls Journal, July 27, 1893

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WILL AID THE BANKS. Comptroller Eckels Will Do All in His Power to Help Embarrassed But Reputable Banks to Resume-The Flurry in Denver About Over. WASHINGTON, July 21.-Comptroller Eckles has sent a dispatch to Bank Examiner Adams at Denver in which he said, in effect, that he would give every possible aid to the banks of that city, and would grant to them sufficient time to enable them to not only collect such amounts as are speedily collectable, but to get together such amounts of money as will enable them to open upon a small basis. The comptroller also said: "It seems to me that such citizens as have. by a foolish course of conduct in withdrawing deposits from banks which so long enjoyed their complete confidence, brought about this condition, ought, in view of the damage they have done their city, as quickly as possible to repair it by standing ready to deposit with them.' Referring to his action the comptroller said the failures in Denver, like a number of other national bank failures, were caused by no fault of the bank officials, but through a foolish and uncalled-for lack of confidence on the part of depositors. He continued: "It is my Intention where a bank has been properly conducted and whose assets under or dinary circumstances would have permitted it to remain solvent, to give the institution every opportunity to resume business. All the Denver banks that failed were well conducted, and every opportunity will be given them to reopen. The people who have caused the Denver disaster by foolish runs should do all they can to help the banks resume." "What is true regarding Denver applies with equal force to banks in other portions of the west where suspension has not resulted from reckless investments or bad managemento the part of officers. Wherever the citizens of a place have precipitated trouble by*instituting a run upon long-established and well-conducted institutions it is but just that they should take hold and assist these banks by redepositing with them, thus placing them in A position to resume their business on a sound financial basis. Wherever possible and advisable the most trusted employes of suspended banking institutions are to be retained by the bank examiners in the interests of the creditors and stockholders, so that every possible means of realizing on the absets of the institution may be accomplished. Instructions to the examiners. however, are to the effect that only in cases of reputable, -established banks are these conditions to be imposed, and no wild-cat institutions or methods will be sanctioned by this office." DENVER, Col., July 21.-There will be no more bank failures in Denver. The panie wore itself out Wednesday with the failure of the People's, German and State national banks. This morning when the First, the Colorado, Denver, City and American nationals opened their doors there was hardly a dozen depositors in all of them at the paying teller's window. In the First and the Colorado nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving teller's windows, and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German, State and People's nationals could pay $3 for $1 if they could realize on securities. Bank Examiner Adams has received a dispatch from Comptroller Eckels which has gone far toward restoring confidence. The officers of the several closed banks all notify the public that they will be able to pay every cent due to customers. But in some cases it will take time to realize on securities. It is learned that heavy withdrawals have been made from several of the banks during the last few months, which would indicate that some of the farseeing anticipated the trouble. It is noticeable that very few of the merchants or business men of the city withdrew their deposits, the runs being made principally by the working pec ple and poorer classes of customers. There may be a few commercial failures in the city within the next few days as a result of the suspension of banks, but it is believed that in no instance, whether a banking or commercial house, will the failure be complete. A resumption of business will surely follow shortly. It is stated that the McNamara dry goods house, which failed Monday for $260,000, have settled with their principal creditors and will resume business Monday. The Flanders dry goods house, occupying premises of five store fronts and five stories high on Sixteenth street, was attached by H. F. Bradley, of Boulder, Col., for $24,000. There is no definite statement of the condition of the firm yet available. Competent judges place the assets at $200,000 with liabilities at $125,000. The failure was caused by the suspension of the People's national bank, to which $25,000 was due. The Union bank of Greeley has closed, with liabilities of $100,000 and assets of $300,000. The Greeley national bank also suspended, but has made no statement. The failures are attributed to the Denver troubles. The Bank of Loveland, at Loveland, Col., has closed its doors, having been caught by the general depression. President Benson, of the bank, assures depositors they will be paid in full. Word has reached here that the First national banks at Canon City and Grand Junction, in this state, failed to open their doors. There are as yet no particulars, but probably the failures were caused by the suspension of Denver banks. The banking house of J. B. Wheeler City and Manitou

20. July 27, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, July 27, 1893

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THE PANIC SUBSIDING. MONEY GETTING EASIER EVERYWHERE AND CONFIDENCE RETRUNING. Money Going Back Into the Denver Banks -Suspended. Banks Will Resume Business Shortly-Commercial Bank of Milwaukee Assigns. DENVER, July 21.-Confidence in Denver banks and commercial houses is being restored in the East and at home with nearly the same rapidity that our people attempted its destruction the first three days of this week. There has been no suspension of magnitude for two days and no more are expected. Banking houses have determined that they will push no creditors nor serve an attachment upon those who show an honest disposition towards settling. Times here will probably be until congress meets and that it is expected that if silver then receives fair treatment it will not take long to place Denver and Colorado far in advance of where they were when this transfer came. President D. H. Moffatt of the First National bank has received a telegram from one of the leading banks of New York offering assistance if needed. Mr. Moffat replied with thanks that he had all the money he needed. Other houses have had offers. It is understood that the German and State National have received large sums of money and will be ready to open their doors again within a very short time. CALIFORNIA BANKS REOPEN. SAN BERARDINO, Cal., July 21.-Jas. H. Eckels, comptroller of the currency, has authorized the First Natlonal bank to reopen, which it did this morning. The bank has a large amount of capital on hand, more than enough to pay every possible demand. It is said the Farmers' Exchange bank will also reopen in a short time. BETTER FEELING PREVAILS. NEW YORK, July 21.-The bank presidents reported today that the situation was fairly easy with some shipments of currency to St. Louis, Denver and Kansas City. Money is is easy and there is a more confident feeling everywhere. MILWAUKEE BANK ASSIGNS. MILWAUKEE. July 21.-The Commercial bank failed. It assigned to A. B. Fiefuss, cashier, who filed a bond of $165,000. The troubles of the bank are said to result from its acceptance of a large amount of paper of Corrigan, Ives & Co. The officers of the bank are, E. R. Paine, president; J. C. Flint, vice president, and A. B. Guilfuss, cashier. Capital stock $250,000. The July statement gave total liabiliwhich of ties $1,656,850.85, due is depositors $557,743.22 on demand, $528,915.22 due depositors on time. The direct cause of the sus pension of the bank at this time is attributed to the failure of the Douglass Furnace company of Sharpesville, Pa., of whose certificates of stored pig iron the Commercial bank had about $130,000. It is claimed that somebody ignoring those certificates had the sheriff attach the iron. For some time also depositors in the bank have been quietly withdrawing money from it. A TACOMA BANK. TACOMA, July 21.-The Traders bank suspended today. SCHLESINGER MINING PROPERTY. MILWAUKEE, Wis., July 21.-The first step toward re-organizing the Schlesinger mining property was taken today. A meeting of the Chapin mine owners was held and flve new directors were ehosen. John H. Tweedin, Jr., was elected treasurer. No other changes were made in the directory. GREELY BANK GOES. GREELY, Colo., July 21.-The Union bank assigned today to James F. Benedict of Denver. Depositors are safe. A SMALL BANK. CRESTED BUTTE, Colo., July 21.The Bank of Crested Butte elosed today. Liabilities $35.000, assets $65,000.

21. July 27, 1893 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, July 27, 1893

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DOINGS AT DENVER. Depositors Hustling Money Back Into Banks' Vaults. Denver, Col., July 20.-There will be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National banks. This morning when the First, Colorado, Denver, City and Amerian National opened their doors, there was hardly a dozen depositors in all of them at the paying tellers' windows. In the First and Colorado nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving teller's windows and the money was going back into the bank vaults almost as rapidly as it was drawn during the past three days. The German, State and People's nationals could pay $3 for $1 if they could realize on securities. There may be a few commercial failures in the city within the next few days as a result of the suspension of banks, but it is believed that in no instance, whether a banking or com mercial house, will the failure be complete A resumption of business will follow shortly. It is stated today that the McNamara dry goods house, which failed Monday for $260,000, has settled with the principal creditors and will resume business Monday. While the situation in Denver is quieting down the effect of the local bank failures is being felt in interior towns in the state. Word was received here today that the First National bank at Canon City and the First National at Grand Junction, this state, failed to open their doors this morning. No particulars are at hand, but it is probable the failures were caused by the suspension of the Denver banks. The Flanders dry goods house, occupying five store fronts and five stories high on Sixteenth street, was attached this morning by H. N. Bradley, of Boulder, Col., for $24,000. There is no definite statement of the condition of the firm available. Competent judges place the assets at $200,000 wih liabilities at $25,000. The failure was caused by the suspension of the People's National bank to which $25,000 was due.

22. July 29, 1893 Martinsburg Herald Martinsburg, WV
Article from Martinsburg Herald, July 29, 1893

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# The Cloud in the East. "The threatened closing of the mills in the East I regard as a much more serious feaure of the present situation than the closing of the Denver banks," says a New York banker. So it is beyond question. The Denver banks were forced to close by the run resulting from the insane ravings of the Governor of Colorado and his hoodlum convention. The trouble with the mills in the East is of a different nature. They are confronted by the free trade policy of the party in power. The market will not take their product and they cannot afford to tie up money in goods that may be depreciated by an act of Congress before they can be marketed. Some of them can suspend operations and live. Others must run or go under, and since they cannot sell they must do the other thing. If there was no fear of a radical change in the tariff policy there mills would go on as before. It is easy to fix the blame without going far. Wheeling Intelligencer.

23. July 31, 1893 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 31, 1893

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IT is not the Wall street gold bugs who are responsible for the financial troubles in Denver, but the distrust and lack of confidence of her own people. There is no bank that can stand a drainage of hundreds of thousands in a day without preparing for it. There is not a doubt that the Denver banks are sound, but this insane run upon them for hundreds of thousands of dollars has simply forced them to suspend payments. It is a fool movement of the home simpletons.