Accommodated withdrawals, Public signal of financial health, Full suspension, Books examined
Notes
Comptroller Eckels' plan and examiner intervention are referenced in coverage of suspensions and reopening.
Events (5)
1.July 8, 1890Chartered
Source
historical_nic
+3.0 years
2.July 18, 1893Run
Cause
Local Banks
Cause Details
Runs and failures of several Denver banks triggered widespread depositor panic and heavy withdrawals across clearing-house banks.
Measures
Long lines of depositors; banks posted notices they would not open; clearing house unable to assist; bank examiner later took charge of several banks.
Newspaper Excerpt
A run is now being made on the City National, German National, First National, Colorado National and all the 11 clearing house banks in Denyer. The panic is on.
Source
newspapers
same day
3.July 18, 1893Suspension
Cause
Government Action
Cause Details
Banks closed amid heavy withdrawals and bank examiner/comptroller intervention (examiner Adams took charge of several national banks).
Newspaper Excerpt
The National Bank of Commerce and the Commercial National Bank have also assigned. ... The Union National Bank of Denver, Col., failed to open its doors this morning.
Source
newspapers
+30 days
4.August 17, 1893Reopening
Newspaper Excerpt
The National Bank of Commerce reopened for business today with almost 100 per cent of its liabilities on hand.
Source
newspapers
+15 years
5.November 14, 1908Voluntary Liquidation
Source
historical_nic
Newspaper Articles (24)
1.July 18, 1893Alexandria GazetteAlexandria, VA
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Failures. As a result of the recent Thornto: bank failure, Nancy M., W. N. and John D. Stewardson, extensive farmers and stock raisers of Shellbyville, Ills., have ,assigned to W. E. Walker. Liabilities about $30,000; asserts $25,000. The Bank of Anacortes, Washn., failed to-day. The First National Bank of Fort Scott, Kas., the oldest financial institution in southeastern Kansas, has suspended. The Citizens Bank of Ada, the most prominent one in Hardin county, Ohio, failed to open its doors this morning. The Union National Bank of Denver, Col., failed to open its doors this morning. The capital is $1,000,000, No statement can be had. The Commercial National Bank and the National Bank of Commerce have also assigned. A run is now being made on the City National, German National, First Na. tional, Colorado National and all the 11 clearing house banks in Denyer. The panic is on.
2.July 18, 1893Deseret Evening NewsSalt Lake City, UT
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The failure of two banks at Denver today was raised by rumor in this city to the collapse of eleven, or all the clearing house banks. The latter report doubtless arone from the fact that a run was being made on all of the banks, but with the exceptions noted they stood the pressure.
3.July 19, 1893Evening JournalWilmington, DE
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EARLY NEWS SUMMARY. Held Responsible for Deaths in the Cold Storage Fire. THE JURY RENDERS A DECISION. Director of Works Burnham, Fire Marshal Murphy. President Skinner and Secretary McDonald, of the Hercules Iron Company. That Built the Building, Found{Guilty. The coroner's jury investigating the Cold Storage fire disaster held Director of Works Burnham, Fire Marshal Murphy, President Skinner, of the Hercules Iron Company, that built the building, and Secretary McDonald, of the same com pany, responsible for the deaths. 4 Denver Bank Failures, The Union National, National Bank of Commerce, Commercial National and Mercantile banks, of Denver, failed and the McNanara dry good house and several other business houses went under owing to the financial panic there. Crusade Against Colored People. Founder Bradley, of Asbury Park, has begun a crusade against the col ored people who monopolize the seats on the beach and pavilions. A Celebrated Case Decided. Judge Acheson in the United States Circuit Court at Erie decided the cele brated case of the Stonemetz Printing Machinery Company vs. the Brown Fold ing Machinery Company in favor of the former. Paid $600,000 in Gold. The New York Sub-Treasury was debtor at the Clearing House to the extent of $669,000, and Treasurer Jorden ordered that the difference should again be paid mostly in gold. Of the total amount $600,000 was paid over in gold and the balance in currency notes. Oldest Bank in Kansas Falls. The First National Bank of Fort Scott, Kan., the oldest financial institution in Southeastern Kansas, suspended payment and the Citizens' Bank at Kan. sas City, the bank of Richmond and the Farmers' and Merchants' Bank at Ossa wattomie have also failed. Prominent Club Man a Forger. : Lloyd Aspinwall, the New York club man, is confined in Yorkville prison, N Y., in default of $5.000 bail, upon the charge of forgery. It is charged that he forged the name of William Aspinwall in indorsing a check. 1 A World's Fair Tradgedy. Miss Emma Garrett, of Philadelphis, who has charge of the Pennsylvania ex t hibit of the work of pupils in institu tions for the blind at the Fair, became 0 insane from overwork and killed herself f by jumping from the fifth story of a hotel. a Meyer, the Poisoner, Arraigned. Dr. Henry C. W. Meyer, the alleged wholesale poisoner, was arraigned be fore Judge Cowing in New York to plead to the indictment charging him with murder. At the request of Lawyer v Joseph Moss. the prisoner's counsel, the judge allowed the case to go over until Thursday.
4.July 19, 1893Pawtucket TribunePawtucket, RI
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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.
5.July 20, 1893Echo De L'ouestMinneapolis, MN
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Faillites de Banques et antres depuis quelques jours -Le Schleisinger Syndicate de Nigaumee, Mich, representant des millions de dollars de capital allemand a fait faillite. Les pertes des créanciers seront énormes. W.H. Rush et H, M. Tabor de Denver, Col., ont deposé leur bilan. Passif 650000 dollare. La Bank of Springfield, Mo, a fermée ses portes. C'est la premiè re fois qu'une banque fait faillite dans la ville. Passif 256,000 dollare. Fermée est la Bank of Garnet, Kan. Les déposants perdront énormé ment et le comté 23,000 dollare que le tréforier y avait déposés. Trois faillites de banques de New-York, celles de MM. C. H. Bunell, celle de M. H. S. Tober et enfin celle de M. W. Barrow. La Philadelphia Mutual Life Insurance Company de Harris burg, Pa., et la Keyatone Benefit Association de Beaver Falls, Pa., sont insolvables. O. E. Nettleton banquier de Deeham, Mass., a dépost son bilan. Le "Universal Order of Coope ration" de Philad-lphie va être mis entre les mains d'nn syndic. Harris Bros de New York ont suspendu leurs paiements. Passif 100,000 dollars. La N W Jersey Sheep & Wool Company de Trenton N. Y. a fermé ses portes. En faillite auesi dans le Kansas La "Bank of Balter and Double Bay de Columbus" la "City Bank" de Johnson City, et la "Book of Weir City" La Peoples Savings Bank de Denver, Col., a ferme see portee. Passif 350,000 dollare. La Rocky Mountain Dime et Dollar Bank de la même ville a suspendu ees paiements. Il en est de même de la Colorado Savings Bank. La Missouri National Bank et la Grande Avenue Bank de Kan888 City ont fait faillite. Passif 250,000 dollars. Et la liste eat loin d'être épuisée. Enfin les banques "Union National," "Commercial National," "National Bank of Commerce" et "Mercautiie Bank" de Denver, Col., ont aussi sombré. Il en est de même de la "Citizen's Bank" de Kansas City, de la "Bank of Richmond" et de la "Farmers et Merchants Bank" de Oaawatomie, Kan., ainsi que de la "First National Bank" de Fort Scott et de la "Armourdale CitiZons Bind," Kansas. On va bien sous le régime démocratique.
6.July 20, 1893The Morning NewsSavannah, GA
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DENVER'S CRAZY PANIC. Banks Worth Three Times What They Owe Forced to Close. Denver, July 19.-The panic was on in this city to-day with renewed vigor and as a result the old German National, with a reputation for stability of 20 years standing, and the equally reputable State National failed to open their doors for business this morning. Later the People's National failed. All night long depositors stood in the line in front of the German, and by 9 o'clock there was one long sea of faces stretching down the street. On the opposite corner, where the State Bank has so long done business, there was also quite a crowd of anxious depositors waiting for the opening of the doors. Here the people were relieved of their agony at a few minutes after 9 o'clock. when notice was posted to the offect that the bank would not open, owing to a lack of ready cash, and the crowd moved away. THE GEPMAN FAILS TO OPEN. At the German there was evidently a determination to go ahead with business up to almost the last moment, when a slip of paper was pasted on a window stating that the doors would remain closed temporarily. Then the scene became distressing. Men and women down the long line broke out in tears and wailing. By this time there was a run on every bank in the city, and soon came the announcement that the People's National bank had closed its doors. A notice on its doors read: "This bank is closed by order of the board of directors. The assets are $1,100,000, and the liabilities $310,000. THE OTHER BANKS CLSO SOLID. The assets and liabilities of the other two failed banks bear about the same proportion as the People's bank. Their failure is chargeable to a long continued drain by depositors and inability to raise ready cash. All expect to resume shortly. Frank Adams, bank examiner, to-day took charge of the Union National, Commercial National, National Bank of Commerco, State National and German National. This afternoon the run at the Denver National, was over, with an enormous amount of money still in sight. The same is true at the City and all the other banks and business men are beginning to breathe freer. There has been a considerable number of failures among business houses of all kinds within the last few days, caused by attachments taken out by banks who foresaw their suspension. Five national banks are still open. OTHER FAILURES. Among the failures that almost escaped notice was that of the Bank of North Denver yesterday afternoon. The business firms whose embarrassments became known range from liquor saloons to street railroads. There are in the list drug stores, lumber companies, gentlemen's furnishers, milliners, coal companies, dry goods houses, jewelers, ready-made clothing dealers, tailors and grocers. Two bank failues are reported at Aspen and one at Loveland. Commercial failures are also reported from many points in the state outside of Denver, due principally to the fact that the sufferers deposited in the Denver banks which have suspended. TWO CLOSE AT GREELEY. Greeley, Col., July 19.-The Union Bank closed its doors at p. m. to-day and a half hour later the Greeley National pulled down its blinds and turned the key in its door. The Union's statement says that owing to the suspension of certain Denver national banks which had on deposit several thousand dollars of its money, and the steady withdrawal of deposits, amounting to about $80,000 in the past ninety days, they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital at $300,000. As soon as the fact of the suspension of these banks became known a steady run was made on the First National, but it continued to honor all checks and drafts, and even after the regular closing hour cashed two checks presented.
7.July 20, 1893The Sauk Centre HeraldSauk Centre, MN
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PANIC AT DENVER Three More National Banks There Forced to Make Assign ments. Depositors at the Remaining Banks Wildly Clamoring For Their Money. Suspension of a Big Dry Goods House Adds to the Intense Excitement. DENVER, July 19.-Never in the history of commercial and mercantile life in the Rocky mountains has such a state of financial affairs existed as now prevails in Denver and throughout Colorado. It was hoped that the banks that had weathered Monday's financial storm would be in such a position as to cope with all the demands made upon them by depositors. This hope was dissipated by the announcement in quick succession of the failure of the National Bank of Commerce, the Union National bank and the Commercial National bank. In the attending excitement it is almost impossible to ascertain the assets and liabilities of each bank, and this information may not be given out until later in the day. Depositors Panic-Stricken. The depositors in the different banks have become almost completely panicstricken and long lines of people are pushing and crowding each other in order to get to the paying teller's windows of the dozen remaining banks that they may secure their money on deposit. To add to the excitement the failure of the McNamara Dry company, with liabilities of $260,000 was announced. The amount of assets is not stated but it is believed they will more than equal the liabilities. The failure was precipitated by the filing of an attachment for $71,780 in favor of the Union National bank. This attachment was served at 1 o'clock a. m. and shortly before business hours another attachment for $20,846.74 in favor of the Colorado National bank was served upon the company and the doors were closed. The dry goods company had a large amount of money outstanding on credit and on account of the stringency of the money market was unable to collect from country customers and thereby make their credit good at different banks. Claim to Be Sound. The First National bank appears to be on the best footing of all the banks. It claims to have on hand over 60 per cent of its deposits and to have a private fund of $1,500,000 in addition to draw upon, making it impossible for any demand to go unattended. The Colorado National bank and several others claim to be equally well fortified against any run. Over 90 per cent of the people who are clamoring for their money are small depositors. The large holders express confidence in the ability of the banks to successfully ride the storm. As every bank is crowded the clearing house is rendering no assistance and each bank is compelled to stand on its own resources. Believe the Worst Over. In an interview at noon President John A. Thatcher, of the clearing house association, said: "I am confident that the worst of this is over and people will soon come to their senses. At the meeting of the clearing house we decided that we could not help the banks and so some of them have gone to the wall. All of them, I believe, have ample security to protect all depositors, but unfortunately at this time cash and not security is what the majority of the people are clamoring for." Up to 12 o'clock everything was comparativaly quite at the Colorado National bank. It is stated that the bank received nearly half a million dollars in gold just before the opening hour. At the National Bank of Commerce every entrance has the following placard: "This bank is closed by order of the board of directors." The doors are locked and no one is allowed to enter. At 1:30 no additional failures had been announced, but the feeling was still of a panicky nature.
8.July 20, 1893The Old Abe EagleWhite Oaks, NM
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A GREAT CRASH. The Union National, the National Bank of Commerce, and the Commercial National bank of Denver failed to open their doors on Tuesday morning. This has created great consternation and a run is now in progress on every bank in the city. The great McNamara Dry Goods Co. has failed and several smaller firms have also made assignments. Intense excitement prevails.
9.July 20, 1893The Daily Morning AstorianAstoria, OR
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CURRENT CURRENCY COMMENT A Regular Monkey and Parrot Time in Denver. SENATOR TELLER'S LATEST TALK A Nephew of Leland Stanford Turns up in Idaho-Married to Suit Himself. Associated Press. Denver, July 19.-The panic in this city was resumed this morning with renewed vigor, and as a result the Old German National bank, with a reputation for stability of twenty years' standing, the equally reputable State National, and extremely strong Peoples' National, failed this morning. All night depositors stood in line in front of the German National, and by 9 o'clock there was a long sea of faces stretching down the street. At the opposite corner, where the State National has so long done business, was also a crowd of anxious depositors, Here people were relieved of doubts, when at 9 o'clock a notice was posted on the doors that the bank would not open, owing to the lack of ready cash At the German National, just before opening time, a notice was posted on the (window stating that the doors would be closed temporarily. This notice caused a distressing scene. Men and women down the long line, broke out in tears and wailing. A run on all the remaining banks in the city was renewed. Reliable people, however, say there will be no more suspensions. Bank Examiner Adams this morning took charge of the Union National, Commercial National, National Bank of Commerce, State National andGerman National banks. A number of minor commercial concerns went under today, The run on the Denver National is over, with plenty of money still in sight. The same is true of the City and all the other unfailed banks. Business men are beginning to breath more freely. Washington, July 19.-The comptroller of Currency has been advised that the Hutchinson National Bank of Hutchinson, Kan., has failed. Topeka, Kan, July 19.-The state bank commissioner has been informed of the failure of the State Bank of Parker, and Woodson's State Bank, of Yates Center. Both were small concerns. Washington, July 19.-The comptroller of currency is informed of the failure of the Bozeman National Bank, of Bozeman, Mont. Brooklyn, July 19.-The large carpet house of Hardenburg & Co. has assigned.
10.July 20, 1893The Western SentinelWinston-Salem, NC
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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,
11.July 21, 1893Oakes Weekly RepublicanOakes, ND
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BUSTED BANKS Seven Bad Fallares III Two Days at Denver. DENVER. July 18. --Commercial - circles are greatly excited over the failure of three banks in this city during the day. The banks constituting the triple failure are the Colorado Savings bank; the People's Savings bank and the Rocky Mountain Dime and Dollar Savings bank. An estimate of the total assets are $1,500,000 and liabilities are placed at nearly that amount. Charles H. Blakeney was made assignee of the Rocky Mountain Dime and Dollar Savings bank. DENVER, July 19.--Three national banks, the Union National. the Coinmercial National and the National Bank of Commerce, closed their doors during the morning, owing to the heavy demands of excited depositors. The Mercantile bank, a small institution doing business in the Mining Exchange building, also suspended, owing to to the close of the Union Bank, through which its clearances were made. Mercantile vallures. In addition to the bank failures the following firms went to the wall during the day: McNamara Dry Goods company; M. S. Noah. installment furniture dealer: Albert Nelson, restaurant; John Mouatt Lumber company; Luther J. Wygant, tiles and grates; Evans-Littlefield Confectionary company; "The Hub," general merchandise; Hyman & Cohen, shoe dealors, and McHiver & Drip, mantels and tiles.
12.July 21, 1893Vermont PhœnixBrattleboro, Bellows Falls, Ludlow, VT
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The Week in Business Circles. The commercial agencies report improvement in the business situation, but there are many indications that the storm is not over. The Amoskeag mills at Manchester, N. H., will be shut down during August on account of the congested condition of the market, and 8000 hands will be thrown out of employment. The iron mill operatives and representatives of the amalgamated association have failed to reach an agreement in Pittsburg, Pa., and in the meantime 40,000 workmen in Pennsylvania and Ohio are idle. The property of the Schleisinger syndicate, controlling a dozen large mines in northern Michigan and Wisconsin has been attached. The suspension of the Kansas City national bank of Kansas City, Mo., which had a capital of $1,000,000, caused a dozen other banks in Kansas City and in other places in Kansas to go to the wall. Six large building and loan associations of St. Louis transferred their property Monday. The greatest excitement has been at Denver, Col., where eight banks closed their doors. The People's savings bank, the Rocky Mountain Dime and Dollar and the Colorado savings banks went down Monday. The National bank of Commerce, Commercial national and Union national were unable to meet the demands of depositors Tuesday, and Wednesday the People's national and the German national were also obliged to cease business. The streets of Denver were filled with excited throngs, and special policemen had to be called out for service in the vicinity of the banks. Great indignation was expressed against Gov. Waite, the Populist, it being alleged that his unguarded remarks at the silver convention were the indirect cause of the failures. If the financial situation in other parts of the country brightens, it is hoped that the Denver banks will be able to resume business.
13.July 22, 1893The Dickinson PressDickinson, ND
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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.
14.July 22, 1893The Superior TimesSuperior, WI
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-Last Monday was a wild day in all Colorado banks, but especially SO at Denver. Tuesday followed with no abatement of the excitement and the runs on the banks began early and lasted all day, and one after the other in rapid succession the National Bank of Commerce, the Union National Bank and the Commercial National Bank went down. A big dry goods establishment also went down with $260,000 liabilities. Confidence in a Democratic administration is not growing to any alarming extent.
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.
16.July 28, 1893Evening JournalWilmington, DE
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ECKELS'S PLAN WORKS WELL. Signatures to His Special Plan for the Denver Banks Come in Rapidly. DENVER, Col., July 88.-The - signatures to the special plan submitted by Comptroller Eckels are coming in rapidly from depositors in the Denver suspended banks. The State National depositors representing over $100,000 have signed and a great many have yet to be heard from. The National Bank of Commerce has received the signatures of depositors representing about $100,000 The German National for between $150,000 and $200,000 and the Commercial National signatures for about $50,000.
17.July 28, 1893Idaho County Free PressGrangeville, ID
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THE SITUATION IN DENVER Three More Supposedly Solid Banks Go to the Wall. I CROWD OF ANXIOUS DEPOSITORS Who Break Out in Tears and Wallings When the German National Closes. Teller Expresses His Views. DENVER, July 19.-The panic in this city was resumed this morning with renewed vigor. As a result the old German National Bank, with a reputation for stability of twenty years standing, and the equally reputable State National and the extremely strong Peoples' National failed this morning. All night depositors stood in line in front of the German National and by 9 o'clock there was one long sea of faces stretching down the street. At the opposite corner, where the State National has so long done husiness, was also a crowd of anxious depositors. Here the people were relieved of their doubts when at 9 o'clock a notice was posted on the door that the bank would not open, owing to a lack of ready cash. At the German National just before opening time a notice was posted on the window stating that it had closed temporarily. This notice caused a distressing scene. Men and women down the line broke out in tears and wailing. The run on all the remaining banks in the city was renewed. Reliable people, however, say there will be no more suspensions. Bank Examiner Adams this morning took charge of the Union National, Commercial National, National Bank of Commerce, State National and the German National. A number of minor commercial concerns went under today. The run on the Denver National is over, with plenty of money still in sight. The same is true at the City Bank and all other unfailed banks. Business men are beginning to breathe more freely. Teller on the Situation. DENVER, July 19.-Senator Teller, in an interview upon the financial situation in this city, says: "There is no one reason to which the trouble can be charged. It is partly to the silver agitation, but more to the general depression affecting the entire country. The bank failures yesterday were unwarranted and are directly chargeable to the people who became frightened and panic stricken at a shadow. There is nothing less fair than to blame all our ills to silver. You had much better blame some to the silver speeches. Teller expressed the belief that the Sherman law will be repealed but not without a substitute of greater benefit to silver. Oakes Denies the Report. NEW YORK, July 19.-A story is current this afternoon that there is danger of the Northern Pacific passing into the hands of a receiver. President Oakes emphatically denied the report. Both Are small Concerns. TOPEKA, Kan., July 19.-The state bank commissioner is informed of the failure of the State Bank of Parker and Woodson's state bank of Yate's Centre. Both are small concerns. Two Banks in Oklahoma. OKLAHOMA CITY, O. T., July 19.-The Bank of Oklahoma and the Oklahoma National bank have failed. The First National stood a heavy run. No statements are given out. A Newspaper Assigns. MOBILE, Ala., July 19.-The Daily Register, one of the oldest newspapers in the South, has made an assignment. Publication will be continued under authority of the court. A California Bank Re-opens. Pomona, Cal., July 19.-The People's Bank re-opened this morning with plenty of coin. Only four dollars were drawn out the first hour. The deposits are liberal. A Moutana Bank Closes. WASHINGTON, July 19.-The comptroller of the currency is informed of the failure of the Bozeman National Bank, at Bozeman, Mont. A Carpet House Fails. BROOKLYN, July 19.-The large carpet house of Bardenburg & Co. has assigned.
18.July 29, 1893Martinsburg HeraldMartinsburg, WV
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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.
19.August 18, 1893The Madison Daily LeaderMadison, SD
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Denver Bank Resumes. DENVER, Aug. 18.-The National Bank of Commerce, one of the six suspended national banks of Denver, was the first to resume, opening its doors for business Thursday.
20.August 18, 1893The HeraldLos Angeles, CA
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Denver Banks Resuming. DENVER, Aug. .-The American National bank, which suspended July let, resumed business this morning. The National Bank of Commerce aleo reopened for business today, with almost 100 per cent of its liabilities on hand. Three more of the suspended banks are expected to open by September 1st.
21.August 18, 1893The Salt Lake HeraldSalt Lake City, UT
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A Denver Bank Resumes. DENVER, Aug. 17.-The National Bank of Commerce reopened for business today with almost 100 per cent. of its liabilities on hand. Three more of the suspended banks are expected to open by September the 1st.
22.August 18, 1893Deseret Evening NewsSalt Lake City, UT
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Other Banks Resume. DENVER, Aug. 17.-The National Bank of Commerce re-opened for business today with almost a hundred per cent of its liabilities on hand. Three more of the suspended banks are expected to open by September 1st.
23.August 24, 1893Courier DemocratLangdon, ND
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REOPENED ITS DOORS. Denver, Aug. 18.-The National Bank of Commerce, one of the six suspended national banks of Denver, was the first to resume, opening its doors for business this morning.
24.August 24, 1893The CometJohnson City, TN
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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:
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
