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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
