German National Bank (Denver, CO)

Episode Information

Episode Type
Run → Suspension → Reopening
Start Date
July 18, 1893
Location
Denver, Colorado (39.739, -104.985)
Bank Type
national
Charter Number
2351

Metadata

Response Measures

Capital injected, Full suspension

Receivership Details

Depositor recovery rate
24.4%
Date receivership started
1894-07-06
Date receivership terminated
1905-10-23
OCC cause of failure
Excessive lending
Share of assets assessed as good
57.2%
Share of assets assessed as doubtful
25.3%
Share of assets assessed as worthless
17.5%

Notes

Bank later failed permanently in June 1894 and went into receivership (receiver referenced in 1895 notices).

Events (7)

1. April 9, 1877 Chartered
Source
historical_nic
2. July 18, 1893 Run
Cause
Local Banks
Cause Details
Run provoked by failures/closures of other Denver banks during the July 1893 panic (preceding banks failed to open).
Newspaper Excerpt
A run is now being made on City National, German National, First National and all the eleven clearing house banks.
Source
newspapers
3. July 19, 1893 Suspension
Cause
Local Banks
Cause Details
Closed amid the broader Denver banking panic and runs on multiple local banks.
Newspaper Excerpt
The German National bank of Denver closed its doors this morning.
Source
newspapers
4. August 30, 1893 Reopening
Newspaper Excerpt
The German National bank reopened its doors for business at the regular hour yesterday.
Source
newspapers
5. June 7, 1894 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank compelled to cease business (insolvency/closure not attributed to rumor).
Newspaper Excerpt
The German National bank did not open its doors today. Cashier Kunzemiller says the institution is compelled to go out of business.
Source
newspapers
6. July 6, 1894 Receivership
Newspaper Excerpt
Zeph T. Hill as receiver of The German National Bank of Denver, and German National Bank of Denver, defendants.
Source
newspapers
7. July 6, 1894 Receivership
Source
historical_nic

Newspaper Articles (23)

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,"


Article from Santa Fe Daily New Mexican, July 19, 1893

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Another Denver Bank Closes. DENVER, July 19. -The German National bank of Denver closed its doors this morning. J. J. Reithman is president. The Mout Lumber company has also suspended.


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.


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,


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.


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.


Article from Burlington Weekly Free Press, July 27, 1893

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WAILING DEPOSITORS. DLD RELIABLES OF DENVER CLOSE THEIR DOORS. With Abundant Assets the German National, People's National and State Banks Forced to Announce Empty Coffers-Other Banks Survive the Run and the Crisis Seems Past.


Article from The Austin Weekly Statesman, July 27, 1893

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FINANCIAL DISTURBANC BAD STATE OF AFFAIRS AFFECTI ALL PARTS OF COLORADO. Thirty Thousand Men Thrown Out of ployment by Shutting Down of Mines Smelters and Dependent Institutions. Numerous Business Failures. DENVER, July 20.-There will parently be no more bank failures Denver. The panic wore itself yesterday with the failure of Peoples, German and State Nation banks. This morning when the Colorado, Denver City and Americ National banks opened their there were hardly a dozen deposite in all of them at the paying celle windows. In the First and Colora National banks long strings of itors reaching nearly to the street lined up in front of the receivi 0 window and money was back into the bank vault almost rapidly as it was withdrawn the past three days. The Germa State and Peoples Nationals could three for one if they could realize securities. There may be a few commerc failures in the city within the next days as a result of the suspension bauks. but it is believed that in no stance, whether banking or cial houses. will the failure be plete and resumption of busin SS surely follow shortly. It is stated day that the McNamara dry house which failed Monday for 000 have settled with their princi Monday. creditors and will resume busin UNEMPLOYED LABOR DENVER, Colo., July 20,-The


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.


Article from Barbour County Index, August 9, 1893

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POINTS FOR THE PEOPLE. -Sects and creeds cut no figure in the battle for human rights. One Father McGlynn is worth more to humanity's cause than a regiment of Henry Ward Beechers. -Which would you prefer to have, a clearing house certificate or a green back issued by the government? Yet the latter has been branded by the national bankers as fiat money-Tacoma Sun. -If silver has no claim as a money metal because it is a product of the earth, gold loses its claim on the same ground. All the people ask is that the two metals shall be treated alike by our government.-Journal of Agriculture. -England had rather rule this country financially and commercially, by manipulating our legislation, than to conquer it by the arts of war. It serves her purpose as well, and is more healthful and less expensive.-Journal of Agriculture. -The present panic was deliberately planned and executed to bluff congress into the demonetization of silver, the purpose being to enhance the value of the securities held by the panic makers, by making them payable in gold val ues.-Journal of Agriculture. -Franklin was without doubt the all round wisest man this continenti ever produced, and he declared at that early day in favor of paper money, pure legal tenders, after a trial of the principle in the colony of Pennsylvanie from 1722 to 1762-National Watch man. 'Whatever a government agrees to receive in payment of the public dues, as a medium of circulation, is money, no matter what its form may be; treasury notes, drafts, etc. Such bills or paper, issued under authority of the United States, are money. ."-Henry Clay in the Senate, 1887. -The populist cause is sure to triumph. There is a moral wave sweeping over the country and by that wave one or both of the old parties will be lashed to pieces. The new issues are coming to the front and they will never down till they are settled and settled right.-Alliance Independent -In 1892 the production of silver was 58,000,000 ounces, of which the government bought 54,129,727 ounces, putting into circulation therefor $47,394,291 in treasury notes. Free coinage of the American product would have put into circulation $19,595,609 more money, after deducting silver used in the arts. This is $88,974,927 less than the gold lost by export during the year. -When we get a postal note or P. O. money order we know to an absolute certainty that it is as good as the cash itself, but when .we get a bank draft we look to see what bank drew the draft and upon what bank it was drawn and then look at the list of fallures. The Nebraska people's party boys were right when they took the lead for government banks.-Missouri World. -Since January 1 nearly two hun dred national banks have closed their doors, against less than fifty during the same period last year. Of the fall. ures this year five have been United States depositories, as follows: The First national bank, of Little Rook, Ark.: the Gate City national bank, of Atlanta, Ga.; the People's national bank, of Denver, Col.: the German national bank, of Denver, Col., and the Kentucky national bank, of Louisville. -Chicago has a new illustrated weekly devoted to the free coinage of silver. Its energies had better be expended in explaining the money function and the uselessness and waste of all the labor in digging and dying for some yellow and white minerals. The same labor expended in creating food, clothing, shelter, instruction and amusement would happify untold millions. The people can create all the money they want and print it on paper that didn't have to be mined at such lbor.-Coming Nation. -The industrial millions demand justice. Through special privileges and class legislation they have been defrauded. Throughallowing politicians and interested newspapers to do their thinking, they have permitted themselves to be well nigh enslaved. Their hope now lies in independent thinking. and in political unity of action. The first thing to be done is to abolish all class legislation, and to demand the government ownership of natural "monopolies,' as well as an expansion of the volume of currency, which will tend to relieve congested business conditions, and enable the slaves of the gold barons at least to live after paying their interest.-B. O. Flower. d -Superintendent-"You want a job driving one of our street sprinklers, eh? Ever had any experience?" Applicant-"No, but-" 'But what?" "Everybody tells me I'm so blind I can't see a street crossing ten feet away and-" "That'll do. Come 'round in the morning and take out the biggest sprinkler we own." - Buffalo Courier -Five-year-old Frances had been spending an afternoon with a little friend. When she returned home she found another little friend there who hadcometovisither "Etheldoesn'tlove you," said Frances to the second little to one the calling girl, referring upon. 'Why the not?" she asked had been visitor, somewhat surprised. "Tause she doesn't know you,' explained


Article from Santa Fe Daily New Mexican, August 30, 1893

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Looks Better. DENVER, August 30.-The German National bank reopened its doors for business at the regular hour yesterday. This is one of the oldest banks in the west and one of the last to suspend during the July panic. The First National Bank of Canon City also reopened.


Article from The Wheeling Daily Intelligencer, August 30, 1893

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Denver Banks Resume. DENVER, Cor., August 29.-The German National Bank opened its doors for business at the regular hour this morning. This is one of the oldest banks in the city and one of the last to suspend during the July panic. Heavy deposits soon were made. The other two banks expect to resume this week.


Article from The Representative, August 30, 1893

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More Denver Banks Resume. DENVER, Aug. 30.-The German National bank of this city and the First National bank of Canon City, which closed during the recent panic, have resumed business.


Article from The Stark County Democrat, August 31, 1893

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Denver Banks Resuming. DENVER, Aug. 30.-The German National bank has opened its doors for business. The other two suspended banks expect to resume this week.


Article from Red Lodge Picket, September 2, 1893

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More Denver Banks Resume. DENVER, Ang. 30. - -The German National bank of this city and the First National bank of Canon City, which closed during the recent panic, have resumed business. CHARTER GRANTED.


Article from San Antonio Daily Light, June 7, 1894

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German National Bank Busted. DENVER, Colo., June 7.-The German National bank did not open its doors today. Cashier Kunzemiller says the institution is compelled to go out of business. It is one of the oldest banks in the city. At one time the bank's stock sold for $335 a share. The bank was closed during the panic last summer, but subsequently reapened on an agreement with the stockholders.


Article from Morning Journal and Courier, June 8, 1894

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Bank Doors Closed. DENVER Col., June 7.-The German National bank did not open its doors today. Cashier Kunze Miller says that the institution is compelled to go out of business. The bank was closed during the panic last summer, but subsequently opened on an agreement with the stockholders.


Article from The Salt Lake Herald, June 16, 1895

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IN THE DISTRICT COURT IN AND for the Third Judicial District of Utah Territory, County of Salt Lake. George C. Adams, plaintiff, vs. Simon Goldman, Fred Boehmer, Maria J. Boehmer, J. W. Heinssen, Florence M. Heinssen, Isaac Ware, Laura E. Dieter, Albert F. Dieter, Charles D. Savery, as administrator of the estate of Maurice Wolf, deceased; N. T. Johnson, Louisa Johnson, Alfred E. Rinehart, Dora E. Rinehart, Charles M. Clinton, Missouri, Kansas & Texas Trust Company, The German National Bank of Denver, German National Bank of Den- ver, and Zeph T. Hill as receiver of The German National Bank of Denver, and German National Bank of Denver, defendants. Summons. The People of the Territory of Utah, send greeting: To Simon Gold- man, Fred Boehmer, Maria J. Boeh- mer, J. W. Heinssen, Florence M. Heins- sen, Isaac Ware, Laura E. Dieter, Albert F. Dieter, Charles D. Savery, as admin- istrator of the estate of Maurice Wolf, deceased; N. T. Johnson, Louisa Johnson,


Article from The Salt Lake Herald, June 19, 1895

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LEGAL NOTICE. IN THE DISTRICT COURT IN AND for the Third Judicial District of Utah Territory, County of Salt Lake. George C. Adams, plaintiff, vs. Simon Goldman, Fred Boehmer, Maria J. Boehmer, J. W. Heinssen, Florence M. Heinssen, Isaac Ware, Laura E. Dieter, Albert F. Dieter, Charles D. Savery, as administrator of the estate of Maurice Wolf, deceased; N. T. Johnson, Louisa Johnson, Alfred E. Rinehart, Dora E. Rinehart, Charles M. Clinton, Missouri, Kansas & Texas Trust Company, The German National Bank of Denver, German National Bank of Den- ver, and Zeph T. Hill as receiver of The German National Bank of Denver, and German National Bank of Denver, defendants. Summons. The People of the Territory of Utah, send greeting: To Simon Gold- man, Fred Boehmer, Maria J. Boeh- mer, J. W. Heinssen, Florence M. Heins- sen, Isaac Ware, Laura E. Dieter, Albert F. Dieter, Charles D. Savery, as admin- istrator of the estate of Maurice Wolf, deceased; N. T. Johnson, Louisa Johnson, Alfred E. Rinehart, Dora E. Rinehart, Charles M. Clinton; Missouri, Kansas & Texas Trust company, The German Na- tional Bank of Denver, German National Bank of Denver, and Zeph T. Hill. as re-


Article from The Salt Lake Herald, June 21, 1895

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IN THE DISTRICT COURT IN AND for the Third Judicial District of Utah Territory, County of Salt Lake. George C. Adams, plaintiff, vs. Simon Goldman, Fred Boehmer, Maria J. Boehmer, J. W. Heinssen, Florence M. Heinssen, Isaac Ware, Laura E. Dieter, Albert F. Dieter, Charles D. Savery, as administrator of the estate of Maurice Wolf, deceased; N. T. Johnson, Louisa Johnson, Alfred E. Rinehart, Dora E. Rinehart, Charles M. Clinton, Missouri, Kansas & Texas Trust Company, The German National Bank of Denver, German National Bank of Denver, and Zeph T. Hill as receiver of The German National Bank of Denver, and German National Bank of Denver, defendants. Summons. The People of the Territory of Utah, send greeting: To Simon Goldman, Fred Boehmer, Maria J. Boeh-


Article from The Salt Lake Herald, June 22, 1895

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IN THE DISTRICT COURT IN AND for the Third Judicial District of Utah Territory, County of Salt Lake. George C. Adams, plaintiff, vs. Simon Goldman, Fred Boehmer. Maria J. Boehmer, J. W. Heinssen, Florence M. Heinssen, Isaac Ware, Laura E. Dieter, Albert F. Dieter, Charles D. Savery, as administrator of the estate of Maurice Wolf, deceased; N. T. Johnson, Louisa Johnson, Alfred E. Rinehart, Dora E. Rinehart, Charles M. Clinton, Missouri, Kansas & Texas Trust Company, The German National Bank of Denver, German National Bank of Denver, and Zeph T. Hill as receiver of The German National Bank of Denver, and German National Bank of Denver, defendants. Summons. The People of the Territory of Utah, send greeting: To Simon Goldman, Fred Boehmer, Maria J. Boeh


Article from The Salt Lake Herald, June 24, 1895

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IN THE DISTRICT COURT IN AND for the Third Judicial District of Utah Territory, County of Salt Lake. George C. Adams, plaintiff, vs. Simon Goldman, Fred Boehmer, Maria J. Boehmer, J. W. Heinssen, Florence M. Heinssen, Isaac Ware, Laura E. Dieter, Albert F. Dieter, Charles D. Savery, as administrator of the estate of Maurice Wolf, deceased; N. T. Johnson, Louisa Johnson, Alfred E. Rinehart, Dora E. Rinehart, Charles M. Clinton, Missouri, Kansas & Texas Trust Company, The German National Bank of Denver, German National Bank of Denver, and Zeph T. Hill as receiver of The German National Bank of Denver, and German National Bank of Denver, defendants. Summons. The People of the Territory of Utah, send greeting: To Simon Gold-


Article from The Madison Daily Leader, May 14, 1896

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BRIEF BITS OF NEWS. Fire destroyed the new Methodist church at Ackley, Ia Telephone wires are being strung between Kansas City and Sioux City. The Southern Minnesota Medical Association held its 15th annual session at Mankato. C. Knight, chairman of the Philadelphia Stock Exchange for the last 10 years, is dead. All the elevators in the Armour system have been declared irregular by the Chicago board of trade. The First National bank of El Reno, O. T., has closed The officers say that depositors will be paid in full. The Chicago Burlington and Quincy directors have declared the regular quarterly dividend of 1 per cent, payable June 15. United States Minister to Japan, Mr. Dunn, arrived at San Francisco by the steamer China. He is on a vacation and will visit his home in the East. The Abyssinians have liberated the Italians who were made prisoners at Agama and it is said that Ras Mangasia will liberate the balance within a week. s P. Lorillard's Sandia won the Maiden plate, 103 sovereigns, at Newmarket, seven horses running. George H. Ketcham was second and Red Virgin third. James Cregan and Charles Brecker were arrested at Newark, N. J., on a charge of check raising, by which they secured from the Bank of Nevada, San Francisco, $22,000. $ French customs receipts for the first four months of 1896 show increases in $ imports of 167,000,000 francs and of exports to the sum of 83,000,000 francs as : compared with the same period of 1895. ( The federal grand jury has found three indictments against John Reith$ man, Sr., John Reithman, Jr., Charles McClinton and Charles Kunzmiller, Jr., officials of the defunct German National I bank at Denver. i The house committee on judiciary has : / : ordered a favorable report on the bill to I establish a site for the erection of a penitentiary to cost not exceeding $150,1 000 on the military reservation at Fort Leavenworth. t The numerous contests for the estate D of Millionaire Andrew J. Davis, of Butte, Mon., are said to have so ex: hausted it that at present what was h originally $10,000,000 is reduced to not t much above $2,000,000. J. J. Walsh, John Farr and Luke f Bowen have been held for trial at New Britain, Conn., on the charge of aiding and abetting the prize fight in which Johnny Houlihan lost his life last week. More arrests will probably follow.