Article Text
COLORADO. DENVER, March 20.-The exchange bank of Denver, A.J. Williams, president; J. M. Strickeler, cashier, suspended this morning. The bank was never strong and the failure creates little surprise. Other banks are not effected.
Exchange Bank (Denver, CO)
Episode Information
- Episode UID
2883286390999- Episode Type
- Suspension → Closure
- Bank Type
- state
- Bank ID
-
288328639hash - Start Date
- March 20, 1883
- Location
- Denver, Colorado (39.739, -104.985)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
91213664038f996a
Response Measures
None
Description
Receiver appointed; articles cite prior reckless loans by former cashier as cause.
Events (2)
1.
March 20, 1883
Receivership
- Newspaper Excerpt
- The Exchange Bank of Denver has been placed in the hands of a receiver, J. M. Strickler, the cashier.
- Source
- newspapers
2.
March 20, 1883
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Prior reckless lending by former cashier (S. G. Collins) that depleted capital, leaving bank insolvent.
- Newspaper Excerpt
- The Exchange Bank of Denver suspended this morning. The bank was never strong.
- Source
- newspapers
Newspaper Articles (12)
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Article Text
The Exchange Bank of Denver has suspended. The failure causes no surprise. Other banks are not affected.
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Went to the Wall. DENVER. Col., March 20.-The Exchange bank, of Denver, suspended this morning. The bank was never strong, and the failure creates little surprise. Other banks are nos affected.
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FAILURE OF A DENVER BANK. DENVER, Col., March 20.-The Exchange Bank of Denver has been placed in the hands of a receiver, J. M. Strickler, the cashier. The bank was incorporated January 1, 1876, with a paid-in capital of $200,000, A. J. Williams being the president. About three years ago it was discovered that the late cashier, S. G. Collins, had loaned the funds so recklessly that the greater portion of the paid-up capital had been absorbed, and at a meeting of stockholders the capital stock was reduced to $100,000. The report for February 2, 1882, showed liabilities of $261,825, exclusive of capital stock and the surplus fund of $82,544 and assets of $444,371. The New- York correspondents were the Tradesmen's National Bank and Wells, Fargo & Co. PITTSBURG, Penn., March 20.-A dispatch from NewBrighton, Penn., says: R. E. & H. Hoopes, private bankers at this place, suspended payment to-day. The failure is said to have been caused by a number of bad investments. No idea of the extent of the liabilities could be obtained to-day, but it is said they will be from $60,000 to $70,000, and that the assets will not amount to over $40,000. The firm has been doing business for twenty-five years.
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DENVER March 20.-The Exchange Bank of Denver suspended this mornieg. The bank never was strong. The failure creates little surprise. The other banks are not affected.
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Bank Failare CHICAGO, March 20.-The Denver Ex. change Bank, of Denver, suspended this morning The bank was never strong The failure creates little surprise. Other Other banks are not affected.
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Bank Suspension. DENVER, March 20.-The Exchange Bank of Denver suspended this morning. The bank was never strong. The failure creates little surprise. The other banks are not affected.
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Bank Failure at Denver. DENVER. Col., March 20.-The Exchange Bank of Denver suspended this morning. The bank was never strong, and the failure creates little surprise. Other banks are not affected.
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A Denver Bank Bursted. DENVER, Col., March 20.-The Exchange bank of Denver suspended this morning. The bank never was strong, and the failure creates little surprise, and other r banks are not affected.
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Business Failures. Denver. Col., 20.-The Exchange Bank of Denver, A. J. Williams, presidont, and K. M. Strickler, cashier, suspended this morning. The bank was never strong. The failure creates little surprise. Other banks are not affected.
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BANK SUSPENDED. DENVER, March 20.-The Exchange Bank of Denver suspended this morning. The bank was never strong, and the failure creates little surprise. Other banks are not affected.
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SOUTHERN FAILURES. Trade Embarrassments During the Past Week. There were 196 failures in the United States reported to Bradstreet's during the past week, 37 less than the previous week, 78 more than the corresponding week of 1882, and 63 more than the same week of 1881. The Southern States had 37, a decrease of 20. The important failures were James F. Pendergast, ship broker; Schloss & Heilbronner, wholesale cloths, and Moritz Wetzlar, importer of leather, New York city; R. E. & H. Hoopes, bankers, New Brighton, Pa.; the Exchange Bank of Denver: Camp, Morrill & Camp, dry goods, Jackson, Mich. Those reported from South Carolina and Georgia were as follows: SOUTH CAROLINA.-Yorkville: J. J. Smith & Co., dry goods, have assigned. Liabilities, $4,000; nominal assets $7,000. GEORGIA.-Columbus: R. R. "Ridenhour, general store, has assigned. Savannah: Application has been made for the appointment of a trustee for the estate of Daniel H. Wilcox, of Wilcox, Gibbs & Co., fertilizers. The application was made by George A. Wilcox, on the ground of insolvency at New Haven, Conn., and a hearing is set down for the 26th inst. In January last Mr. Wilcox gave a realty mortgage for $55,000 and Wilcox, Gibbs & Co. for $70,974, then believed to have been done to debar the claim of Babcock & Co., of Liverpool, who sued them on a claim for $60,000. Smyrna: W. W. Pace, notions, has been closed by the Sheriff. He had a branch at Mableton.