American National Bank (Leadville, CO)

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Episode Information

Episode UID
394901123
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
39490 national
Charter Number
3949
Start Date
July 3, 1893
Location
Leadville, Colorado (39.251, -106.293)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bc8a5ba402ea177d

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Events (4)
1. December 18, 1888 Chartered
Source
historical_nic
2. July 3, 1893 Run
Cause
Local Banks
Cause Details
Contagion from recent suspensions/failures of other banks (suspension of California banks) triggered heavy withdrawls in Leadville
Measures
Demands of depositors were met with cash; paying tellers disbursed funds promptly
Newspaper Excerpt
A run was made on the California, Carbondale and American banks today, but all demands of the depositors were promptly met with cash
Source
newspapers
3. July 3, 1893 Suspension
Cause
Macro News
Cause Details
Inability to realize on securities amid the wider currency/stringency following other bank suspensions, prompting temporary suspension
Newspaper Excerpt
The American National bank closed its doors this morning... a notice was posted on the door: '...this bank is compelled to suspend payment for a few days.'
Source
newspapers
4. August 17, 1893 Reopening
Newspaper Excerpt
Comptroller Eckels ... permitted the ... American National Bank, of Leadville, Col., ... to begin business; the American National bank... opened its doors for business this morning.
Source
newspapers

Newspaper Articles (20)
1. July 4, 1893 The Record-Union Sacramento, CA
Article from The Record-Union, July 4, 1893

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Article Text

BANK FAILURE. The Albuquerqne National Temporarily Suspends Business. ALBUQUERQUE (N. M.), July 3.-The following note was posted on the door of the Albuquerque National Bank this morning: The Albuquerque National Bank is compelled temporarily to suspend business. This is brought about by the unusual demands of depositors since the suspension of the California banks about ten days ago, and the absolute impossibility during the present business depression to call in our loans. It is confidently hoped that we can soon resuine business and that every creditor will be paid in full, as the assets greatly exceed the liabilities. JOHN A. LEE, Vice-President. The suspension will cause no loss to depositors, as the bank has a surplus of $40,000. Other banks are exceptionally strong, and have large cash reserves. Full confidence is expressed by citizens, and no runs whatever are being made. The liabilities of the Albuquerque National Bank are $270,000, and the assets $420,000. The New Mexico Savings Bank and Trust Company is also closed, but they say the depositors will be paid in full. RESUMING BUSINESS. WASHINGTON, July 3. - Comptroller Eckels is advised that the First National Bank at San Diego, Cal., which failed one month ago, will resume business Wednesday, having complied with the conditions imposed by the Comptroller. It is probable, also, that the failed Washington National Bank of Spokane, Wash., will resume business in ten days. A RUN AT LEADVILLE. LEADVILLE (Col.), July 3.-A run was made on the California, Carbondale and American Banks to-day, but all demands of depositors were promptly met with cash, and at the closing hour the run had ceased. The American National Bank closed its doors this morning, but the directors say the depositors will be paid in full. The statement shows the resources to be $536,134 and the liabilities $347,625. RUN ON A BROOKLYN BANK. BROOKLYN, July 3.-There was a slight run on the Williamsburg Savings Bank this morning. Nearly 1,000 persons crowded into the bank as it opened, and until noon, anxious inquiries made show the proportion of those withdrawing deposits as to five to one of those depositing. General A. V. Meserole, President of the bank, said: "We paid out $230,000 on Saturday and took in $140,000, mostly from new depositors. We are doing business fast, and preparing for a run should it come." HAS PLENTY OF FUNDS. Cisco (Tex.), July 3.-The doors of the National Bank of Cisco were closed by the Inspector to-day, while the inspections of the bank's condition are being made, to prevent a run. The Cashier stated that the bank had two and a half dollars for every dollar of liabilities. DECLARED INSOLVENT. WINNIPEG (Man.), July 3.-The Commercial Bank of Manitoba has been declared insolvent and liquidators appointed to wind up its business. Bills of the bank are as good as gold under the Dominion law.

2. July 4, 1893 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, July 4, 1893

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CONDENSED TELEGRAMS. Johnson, the famous California outlaw, died in jail at Fresno yesterday. General Warner denies the story that there has been a secret conference of the free silver congressmen. Edward McCarthy jumped from the Brooklyn bridge last night and sustained fatal injuries. Ho wanted to emulate the example of Steve Brodie. A run on the Carbonato and American banks at Leadville, Col., was instituted yesterday. The bank meets all demands, and depositors are being paid in full. Fifteen hundred miners at Long Run, Dillonvale and Laurelton mines on the Wheeling & Lake Erio are out on strike because of the discharge of the check weighman. A dispatch from Hong Kong reports another fanatical outbreak against mis. sionaries in China. The dispatch says that a mob of natives attacked two Swedish missionaries at Macheng and killed them. The militia were withdrawn from Tonawanda, N. Y., yesterday atternoon. The situation has become such that deputy sheriffs can take the place of the soldiers in guarding the property of tho lumbermon. There wns a slight run on the Will. iamsburg (N. Y,) Savings Bank yesterday morning. Nearly n thousand porsons crowded to got into the bank as it opened and at noon hundreds of anxlous inquiries were made. The bank is in no danger.

3. July 4, 1893 The Herald Los Angeles, CA
Article from The Herald, July 4, 1893

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Article Text

A Run on Leadville Banks. LEADVILLE, Colo., July 3.-A run was made on the California, Carbondale and American banks today, but all demands of the depositors were promptly met with cash, and at the closing hour the run had ceased. The American National bank closed its doore this morning, but the directors say the depositors will be paid in full. The statement showe: Resources, $536,134; liabilities, $347,625,

4. July 4, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 4, 1893

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BUSINESS REVERSES. Many Banks Unable to Withstand the Pressure. ALBUQUERQUE, N. M., July 3.-The following notice was posted on the door of the Albuquerque National Bank this morning: "The Albuquerque National Bank is compelled temporarily to suspend business. This is brought about by the unusual demands of depositors since the suspension of California banks about ten days ago, and the absolute impossibility during the present business depression to call in our loans. It is confidently hoped that we can soon resume business and that every creditor will be paid in full, as the assets greatly exceed the liabilities. "JOHN A. LEE, Vice-President." The suspension will cause no loss to depositors, as the bank has a surplus of $40,000. The other local banks are exceptionally strong and have a large cash reserve. Full confidence is expressed by citizens in their soundness and no runs whatever are being made. The liabilities of the Albuquerque National are $275,000 and the assets $420,000. The New Mexico Savings Bank and Trust Company also closed to-day. Its officers say the depositors will be paid in full. LEADVILLE, Colo., July 3.-A run was made on the California, Carbondale and American banks to-day, but all the demands of depositors were promptly met, and at the closing hour the run had ceased. The American National Bank closed its doors this morning, but the directors say the depositors will be paid in full. The bank's statement shows resources amounting to $3,536,134 and liabilities of $342,625. GOLDEN, Colo., July 3.-The Jefferson County Bank failed this morning. There is DO statement of assets or liabilities. The total liabilities are $76,538 and the assets $111,380. The officers are confident that every cent will be paid. CINCINNATI, Ohio, July 3.-Freiberg Bros.. liquor-dealers, have failed; liabilities, $200,000; assets, same. BROOKLYN, July 3.-There was a run on the Williamsburg Savings Bank this morning. Nearly 1000 persons crowded into the bank as it opened, and until noon anxious inquiries were made. The proportion. of those with drawing deposits was as five to one of those depositing. General A. V. Meserole, president of the bank. said: "We paid out $230,000 on Saturday and took in $140,000. mostly from the depositors. We are doing business fast, and are prepared for a run, should it come." CHICAGO, July 3.-A. G. Postlethwalte filed a bill to-day for a receiver for the Illinois Fuel Company of Sangamon County, which confessed judgment some days ago for $70,000. The complainant is holder of the company's stock. He claims that the officers put all his investment in the company and have mismanaged its affairs. He claims the company owes him $42,000 money loaned. WINNIPEG, July 3.-The Commercial

5. July 4, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, July 4, 1893

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WILL BE PAID IN FULL. Leadville, Colo., July 3.-A run was made on the California, Carbendale and American Banks today, but all demands of depositors were promptly met with cash, and at the closing hour the run was ceased. The American National Bank closed its doors this morning, but depositors will be paid in full. A statement shows resources of $536, 134; liabilities, $342,625.

6. July 4, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 4, 1893

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Stood the Runs. Leadville, Colo., July 3.-Before the hour off jopening an immense crowd gathered for a run on the Carbonate and American banks The directors of each had long been expecting it and the managers had made such prudential preparations for the energency as was in their power. The-Carbonate was soon filled with an eager crowd of depositors, all showing more or less anxlety. The paying teller handed out the funds as fast as the checks were preseuted, however, and the process of disbursement went steadily on until near noon. The only other incident of the morning's business was the frequent appearances of the bank's regular commercial customers with deposits of such funds as they were able to collect during the morning. Among this class was unt manifest the slightest uneasiness, and not a single account was closed by the withdrawal of funds, President

7. July 4, 1893 The Sun New York, NY
Article from The Sun, July 4, 1893

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A Lendville Bank Suspends, LEADVILLE, Col., July 3.-The American National Bank did not open its doors this morning. Instead. a notice was posted on the door. which read as follows: "Owing to the impossibility of realizing upon first-class securities. this bank is compelled 10 suspend payment for a law days. All depositors will be paid in full." No statement of assets and liabilities has been made. The probabilities are that the bank will resume.

8. July 4, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 4, 1893

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Run on Leadville Banks. LEADVILLE, Colo., July 3.-A run was made on the California, Carbonate and American banks today, but all demands of depositors were promptly met with cash and at the closing hour the run had ceased. The American National bank closed its doors this morning, but the directors say depositors will be paid in full. Their statement shows resources, $536,134; liabilities, $342,625.

9. July 5, 1893 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, July 5, 1893

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More Failures. LEADVILLE, Colo., July 5.-The American National bank has failed. Dallas, Texas.-A News' Cisco special says: The doors of the First National Bank of Cisco were closed by an inspector while an inspection of the bank's condition was being made to prevent a run by depositors. The cashier stated that the bank had $2.50 for every dollar of indebtedness.

10. July 5, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 5, 1893

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BUSINESS REVERSES." Failure at Leadville, LEADVILLE. Colo., July 5.-The American National bank has suspended. All depositors will be paid in full.

11. July 5, 1893 The Representative Saint Paul, Minneapolis, MN
Article from The Representative, July 5, 1893

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BUSINESS REVERSES, Failure at Leadville. LEADVILLE, Colo., July 5.-The American National bank has suspended. All depositors will be paid in full.

12. July 6, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 6, 1893

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Failure at Leadville. LEADVILLE, Colo., July 6.-The a American National bank has suspended. All depositors will be paid in full.

13. August 18, 1893 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, August 18, 1893

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MILLS AND BANKS RESUME. COLUMBUS, O., Aug. 17.-Hayden's Rolling Mill, one of the the leading iron works of this city, which shu 1 down two months ago, re-opened today, and 200 men resumed work. The mill will run night and day, and the managers state that the outlook is good. The chain works, owned by the same firm, opened a week ago, when 100 men went to work. Builders also report the outlook in their business better. CLEVELAND, O., Aug. 17.-The Cleveland Rolling Mills will resume work next week. BRISTOL, Pa., Aug. 17.-The Lead Mining Co., of Buck's County, has put 100 men at work in its new mines. PROVIDENCE, R. I., Aug. 17.-Mellor & Prendergast's mill, at Burrillville, resumed work yesterday. WOONSOCKET, R. I., Aug. 17.-The calendar rooms of the Miliville (Mass.) and Alice (Woonsocket) factories 01 the Woonsocket Rubber Co. will start on Monday. preparatory to resump. tion in all the departments. They have been closed two. weeks. WASHINGTON, D. C., August 17.Comptroller Eckels to-day permitted the National Bank of Commerce, of Denver, Col., and the American National Bank, of Leadville, Col., both of which suspended a short time ago, to begin business. MONTGOMERY, Ala., August 17.-Depositors of the Joseph Morris Bank have already agreed to a plan for its resumption, deposits to be paid in quarterly sums, beginning on February 1st, next. The good assets are found to be almost $3,000,000; liabilities, $1,641,288.

14. August 23, 1893 The Star Reynoldsville, PA
Article from The Star, August 23, 1893

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Cholera Advices NEW YORK-The health of the passengers detained in quarantine continues to be good. There are no new cases. ROME-Ten fresh cases of cholera and six deaths were reported in Naples. In Sulmona, province of Aquila, there were two deaths from cholera, but no new cases. Several cases of cholera developed in Co npobasso, a small city 55 miles from Naples. VIENNA-Seven fresh cases of cholera and 11 deaths were r ported today in Nadworng a town of 6,000 inhabitants in Austrian Galicia. Sr. PETERSBURG-Official returns indicate a further increase of cholera. The epidemic is especially severe in Moscow, where 166 new cases and 97 deaths from the disease were reported from August 8 to August 12. Financial and Commercial. The Backbone of the currency famine in Eastern cities appears to be almost broken. The First National bank, of Rico, Col., which suspended payment in June, on Thursday reopened its doors for business, The First National Bank, of Dubuque, Ia., has suspended. At Leadville, Col., the American National Bank, which closed July 1, opened its doors for business.

15. August 24, 1893 The Middleburgh Post Middleburg, PA
Article from The Middleburgh Post, August 24, 1893

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Financial and Commercial. The Backbone of the currency famine in Eastern cities appears to be almost broken. The First National bank, of Rico, Col., which suspended payment in June, on Thursday reopened its doors for business, The First National Bank, of Dubuque, Ia., has suspended. At Leadville, Col., 'the American National Bank, which closed July 1, opened its doors for business.

16. August 24, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, August 24, 1893

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A DENVER BANK RESUMES. DENVER, Aug. 17.-The National Bank of Commerce was today placed in the hands of its directory and the doors opened for business. It is announced that three more of the suspended banks will open before Sept. 1. A BANK RESUMES. LEADVILLE, Aug. 17.-The American National bank, which closed its doors July 1, opened its doors for business this morning. HOTEL FAILS. CHICAGO, Aug. 17.-The Hotel Im-

17. August 24, 1893 The Comet Johnson City, TN
Article from The Comet, August 24, 1893

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Controller Eckels has given the suspended National Bank of Commerce of Denver, and the American National Bank of Leadville, Col, permission to resume:

18. August 26, 1893 The Meeker Herald Meeker, CO
Article from The Meeker Herald, August 26, 1893

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Three of the suspended national banks of Denver have resumed business again. They are-the National Bank of Commerce, the People's national and the Union national. The Central national of Pueblo, the Greeley national of Greeley, the American national of Leadville, and the First national of Rico, have also resumed. This shows that confidence is returning and the outlook for Colorado much brighter.

19. August 30, 1893 New-York Tribune New York, NY
Article from New-York Tribune, August 30, 1893

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THESE BANKS HAVE RESUMED BUSINESS GOOD PROSPECTS FOR MANY OTHER OF THE SUSPENDED INSTITUTIONS. 'Vashington Aug. 2,-Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock $125,000; Gate City National Bank, Atlanta, $250,000; Capital National Bank, Indianapolis, $300,000; Washington National Bank, Spokane Falls, $250,000: First National Bank, Palouse City, Wash., $75,000: Southern California National Bank, Los Angeles. $200.000: First National Bank, Los Angeles, $200,000; First National Bank, San Diego, $300,000; First National Bank, Santa Ana, $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Tex., $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo, $50,000; Missouri National Bank, Kansas City, $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, $1,000,000; National Bank of Commerce, Denver, $500,000; Hutchinson National Bank, Hutchinson, Kan., $100,000; People's National Bank, Denver, $600,000; First National Bank, Anthony. Kan., $50,000; Greeley National Bank, Greeley, Col., $50,000; Farmers' National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky., $300,000; First National Bank, The Dalles, Ore., $50,000; Wanpaca County National Bank, Waupaca, Wis., $50,000; Waxahackie National Bank, Waxahackie, Tex., $100,000; Citizens' National Bank, Attica, Ind., $50,000; First National Bank, San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000; total, $6,030,000. Since January 1 last 145 National banks have suspended. Of this number, one has gone into voluntary liquidation, fifty-seven have been placed in the hands of receivers, sixty-two are in the hands of National Bank Examiners with excellent prospects of early resumption, in addition to the thirty-four above named, which have already resumed.

20. September 7, 1893 The Comet Johnson City, TN
Article from The Comet, September 7, 1893

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BANKS THAT HAVE RESUMED AN AVERAGE OF ONE A DAY, WITH MORE IN PROSPECT. The banks that have suspended resumed during the past two weeks, as follows: Greeley National bank, Greeley, Col., Aug. 14. Armourdale bank, Armourdale. Mo, Aug. 16. First National bank, Fort Scott, Kan., suspended July 18, resumed Aug. 16. First National bank, Rico, Col., suspended June 30, resumed Aug, 16. American National bank, Leadville, Col., closed its doors July 1, resumed Aug. 17. First National Bank, Anthony, Kan., suspended July 20, resumed Aug. 18. Union National bank, Denyer, Col., suspended July 18, resumed Aug. 21. Citizens' National bank, Attica, Ind.. Aug. 21. People's National bank, Denver, Col., suspended July 19, resumed Aug. 21. Central National bank, Pueblo, Col., suspended July 5, resumed Aug. 21. Hamilton County State bank, Fort Dodge, Ia., suspended Aug. 7, resumed Aug, 21. City Saving bank, Nashville, Tenn., Aug. 22. Henning's bank, Plain, Ill., Aug 22. First National bank, The Dalles. Ore., suspended July 31, resumed Aug. 25. Fourth National bank, Louisville, Ky., suspended July 22, resumed Aug. 26. Comptroller of the Currency Eckels has fixed the time for the resumption of several suspended banks as follows: Farmers' Exchange bank, San Bern ardino, Cal., Aug. 25. The Fall River (Wis.) bank, Aug. 25. First National (Mankato, Minn.) Sept. 1. Mankato National, Mankato, Minn., Sept. 1. Citizens' National, Mankato, Minn., Sept. 1. Permission to resume has also been given to the following banks: First National, Vernon, Tex. First National, San Marcos, Tex. First National, Lockhart Tex. The stockholders of the National, bank of Kansas City, Mo., met Friday and decided to resume busin SS.