Home Savings & Trust Company (Denver, CO)

Episode Information

Episode Type
Run Only
Start Date
August 25, 1923
Location
Denver, Colorado (39.739, -104.985)
Bank Type
trust
Routing Number
23-0066

Metadata

Notes

Run was triggered by an apparent false rumor spread by a woman; bank remained open with backing from clearing house and businessmen.

Events (1)

1. August 25, 1923 Run
Cause
Rumor Or Misinformation
Cause Details
An unknown woman allegedly told depositors the bank was about to be closed by examiners, prompting withdrawals; rumors later found unfounded.
Random Run
Yes
Random Run Snippet
Woman told depositors bank would be closed; rumor proved false
Measures
Posted notice enforcing 60-day withdrawal rule; received backing from Denver Clearing House and large deposits from businessmen.
Newspaper Excerpt
Notice was posted tonight at the Home Savings & Trust company... that effective at once the bank would insist that savings depositors give 60 days notice...
Source
newspapers

Newspaper Articles (12)

Article from Bozeman Daily Chronicle, August 26, 1923

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Article Text

WOMAN SPREADS REPORT BANK ABOUT TO SUSPEND Institution in Good Financial Condition Say Officers. Business Men Come to Rescue. Denver, Colo., Aug. 25.β€”Notice was posted tonight at the Home Savings & Trust company, one of the largest state banks in Denver, that effective at once the bank would insist that savings depositors give 60 days notice of intention to withdraw their funds, as required by law. The rule provided for in regulations governing each savings account, has not been enforced in Denver. Commercial accounts will be paid at once, it was announced.


Article from Livingston Enterprise, August 26, 1923

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Article Text

NOTICE IS POSTED THAT 60 DAY NOTICE MUST BE GIVEN TO GET FUNDS DENVER, Aug. 25.β€”Notice was posted tonight at the Home Savings and Trust company, one of the largest state banks in Denver, that effective at once the bank would insist that savings depositors give 60 days notice of intention to withdraw their funds, as required by law. The rule provided for in regulations governing each savings account, has not been enforced in Denver. Commercial accounts will be paid at once, it was announced. In Good Condition Earlier in the day, and during a part of yesterday, scores of depositors withdrew their funds from the bank. Officials of the institution declared it was in first class condition and during the day all money was paid as soon as pass books were presented. Bank officials explained that enforcement of the 60 day notice rule for savings depositors was determined on for the protection both of the bank and its depositors. Vice President M. A. McLaughlin said:


Article from Medford Mail Tribune, August 27, 1923

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PEEVED LADY STARTS RUN ON BANK DENVER, Aug. 27.β€”The posting of a notice at the Home Savings and Trust company, one of the largest state banks in Denver, Saturday, requiring depositors to give sixty days notice of intention to withdraw their savings fund as required by law, today apparently had stopped what threatened for a time to develop into a heavy "run" on the bank. Only a few customers were in the bank this morning in contrast to several hundred who crowded up to the paying windows throughout Saturday. Frank Bishop, president of the bank, declared many of the customers today were depositing money instead of withdrawing it. Police and attaches of the district attorney's office were continuing their investigation today of the report that the "run" was instigated by a woman who held a grievance against certain directors of the bank.


Article from Reno Gazette-Journal, August 27, 1923

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RUN ON DENVER BANK STOPPED BY NOTICE DENVER, Aug. 27.β€”The posting of a notice at the Home Savings and Trust Company, one of the largest state banks in Denver, Saturday, requiring depositors to give sixty days' notice of intention to withdraw their savings funds, as required by law today apparently had stopped what threatened for a time to develop into a heavy "run" on the institution.


Article from The Daily Sentinel, August 27, 1923

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Article Text

NOTICE HALTS WITHDRAWALS DENVER BANK Run On Home Savings & Trust Company Halted By Application of Time Limit for Withdrawal of Savings. [By Associated Press.] Denver, Aug. 27.β€”The posting of a notice by the Home Savings Bank & Trust Company, one of the largest state banks of this city, requiring depositors to give sixty days' notice of intention to withdraw savings, has apparently stopped what threatened to be a heavy run. There were only a few customers in the bank this morning. FORD RUNABOUT STOLEN TODAY IN PALISADE


Article from The Bellingham Herald, August 27, 1923

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Article Text

Threatened Run On Denver Bank Halted D E N V E R, Aug. 27.β€”(AP)β€”The posting of a notice at the Home Savings & Trust company, one of the largest state banks in Denver, Saturday, requiring depositors to give sixty days' notice of intention to withdraw their savings funds as required by law, today apparently had stopped what threatened for a


Article from The Cleveland Press, August 28, 1923

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BLAME WOMAN FOR RUN Depositors in Denver Bank Say Stranger Started Stampede By United News DENVER, Colo., Aug. 28β€”An unknown woman is believed by police to have caused the run on the Home Savings Bank & Trust Co., which started Friday night and continued until Sunday. Hundreds stampeded to withdraw their savings accounts, and many of them said a woman had told them the bank was about to be closed by examiners. Depositors were return-


Article from Albuquerque Journal, August 28, 1923

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Article Text

Denver, Colo., Aug. 27.β€”The posting of a notice at the Home Savings and Trust company, one of the largest state banks in Denver, Saturday, requiring depositors to give sixty days notice of intention to withdraw their savings fund as required by law, today apparently had stopped what threatened for a time to develop into a heavy "run" on the institution. Only a few customers were in the bank this morning, in contrast to several hundred who crowded up to the paying windows throughout Saturday. Frank Bishop, president of the bank, declared many of the customers today were depositing money instead of withdrawing it. The bank is in a position to meet its clearings today, he said, indicating that the amount of drafts against commercial accounts probably would be smaller than had been anticipated.


Article from The Birmingham Age-Herald, August 28, 1923

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FAKE RUN ON BANK DENVER, Col., August 27.-An unknown woman, police believe Monday, was responsible for the run on the Home Savings Bank and Trust company which started Friday night and continued until Sunday. Hundreds stampeded to withdraw their drawing accounts, and many of them said a woman had told them the bank was about to be closed by examiners. Depositors were returning their money to the bank Monday and police continued their search for the woman. She is subject to a $300 fine and a year in prison if caught.


Article from The Los Angeles Times, August 28, 1923

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Article Text

THREATENED "RUN" ON DENVER BANK STOPS [BY A. P. NIGHT WIRE.] DENVER, Aug. 27.β€”The posting of a notice at the Home Savings and Trust Company, one of the largest State banks in Denver, Saturday, requiring depositors to give sixty days' notice of intention to withdraw their savings funds as required by law, today apparently had stopped what threatened for a time to develop into a heavy "run" on the institution. Only a few customers were in the bank


Article from Bakersfield Morning Echo, August 28, 1923

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Article Text

BANK STOPS RUN DENVER, Aug. 27.β€”The posting of a notice at the Home Savings and Trust Company, one of the largest state banks in Denver, Saturday, requiring depositors to give sixty days notice of intention to withdraw their savings funds, as required by law, today apparently had stopped what threatened for a time to develop into a heavy "run" on the institution.


Article from The Arvada Enterprise, August 30, 1923

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Article Text

# COLORADO NEWS NOTES Denver. Bolstered by the backing of the Denver Clearing House Association and large deposits of a score or more of prominent business men, the Home Savings and Trust Company kept its doors wide open. This assurance was given by Frank L. Bishop and Michael A. McLaughlin, president and vice president, respectively, of the bank. They are of the opinion, as is most of the rest of the banking fraternity, that the hysteria and apprehension that attended the assignment of the Interstate Trust Company and the failure of the Hibernia Bank and Trust Company is passing rapidly. The peak of the excitement, based solely on the promiscuous spreading of unfounded rumors, was believed reached. Denver. Work was begun recently to convert the fifty-four mile Farmington, N. M., branch of the Denver & Rio Grande Western railroad from standard to narrow gauge, according to announcement by Frank A. Wadleigh, general passenger agent of the Denver & Rio Grande. A report from Durango incorrectly stated that the road was to be converted into a standard gauge. It is now standard gauge, according to Mr. Wadleigh, and the change to narrow gauge is being made to afford a uniform gauge road from Alamosa to Farmington, thereby eliminating transfer of live stock and other freight from one gauge to another. Colorado Springs. A crumpled packet of five letters, said to contain evidence incriminating the unknown assailant who brutally murdered Mrs. Elsie Jorgensen Suttle, wife of R. H. Suttle, Jr., a few days ago, is believed to have been the cause of the attack which ended in the death of the 17-year-old bride of a month, according to police. A dragnet has been thrown out by the police for a man called "Jack," who is thought to have invaded the girl's room in an effort to obtain the letters, which were found under the pillow of the bed on which she was lying. Greeley. More than 300 members of the Camp Fire girls from Morgan, Weld, Adams, Larimer and Boulder counties met in Greeley for their annual council fire. One hundred and eight members of the Guardian's Training classes at the Colorado State Teachers' College, under the direction of Miss Gertrude Lee, Camp Fire executive, received their certificates. Miss Edith M. Kempthorne, national secretary of the organization, was a principal speaker at the council fire. Denver. Coal production for the state of Colorado during the month of July was 689,254 tons, bringing the total for the year to 5,716,658 tons, according to the monthly report of James Dalrymple, state coal mine inspector. The report shows that there has been an increase of 637,761 tons of coal mined this year, compared with a similar period last year. There were 11,472 men employed in the mines of the state during the month. Fort Collins. Fifteen students received their degrees from the Colorado State Agricultural College here, Wednesday, at the first regular commencement and conferring of degrees ever held in Fort Collins, at the close of a summer session. The students' petitions for degrees were approved last spring by the State Board of Agriculture, with the condition that they fulfill certain requirements during the summer session. Denver. Important clews indicating that the run on the Home Savings and Trust Company was caused by a Denver woman who wished to revenge herself for a personal grievance against certain directors of the bank were being followed by operatives from the district attorney's office, according to Kenneth W. Robinson, and it was believed that an arrest will be made soon. Denver. A regional conference between national leaders of the Republican party and prominent Republicans of Colorado, Nebraska, Utah, Nevada, Wyoming and Montana will be held in Denver in October. Denver. Colorado's wool clip for 1923 will be the largest on record, according to estimates received by Joseph Passoneau, state director of markets, from the Department of Agriculture. The yield for the year is set for 8,544,000 pounds, compared with 6,839,000 in 1921 and 7,232,000 in 1919. There are approximately 800,000 sheep in the state. Weld and Rio Grande counties are the leaders in wool production, with Larimer and Conejos counties close seconds. The neighboring states of Wyoming, Utah and New Mexico are all heavier wool producers than Colorado. Pueblo. Approximately 1,000 members of the International Bible Student Association are expected in Pueblo, Sept. 2, 3 and 4, to attend the first convention of the organization