Union National Bank (Denver, CO)

Episode Information

Episode UID
438201147
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
43820 national
Charter Number
4382
Start Date
July 27, 1895
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
904ad4c1d8d31615

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1895-08-02
Date receivership terminated
1902-09-30
OCC cause of failure
Losses
Share of assets assessed as good
34.5%
Share of assets assessed as doubtful
53.8%
Share of assets assessed as worthless
11.7%

Description

Some reports give the public closing date as July 29 while the comptroller's notice states suspension of payment on July 27.

Events (4)

1. July 30, 1890 Chartered
Source
historical_nic
2. July 27, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended payment and announced liquidation; closely associated institutions had demands it could not meet, suggesting insolvency.
Newspaper Excerpt
the Union National bank ... suspended payment July 27.
Source
newspapers
3. August 2, 1895 Receivership
Source
historical_nic
4. August 2, 1895 Receivership
Newspaper Excerpt
The comptroller of the currency ... appointed William S. Nelson, of Denver, receiver of the Union National bank, which suspended payment July 27.
Source
newspapers

Newspaper Articles (19)

Article from The Wheeling Daily Intelligencer, July 30, 1895

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Article Text

Union Bank at Denver Closes. DENVER, Cora, July 29.-The Union National bank, of which W. R. Woodbury is president, was closed to-day. It will liquidate its aftairs and go out of business The Union bank was closed during the panic in 1803, but subsoquently renumed busines and later ---


Article from The Weekly Register, July 31, 1895

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Article Text

Bank Closes. DENVER, July 29.-The Union National bank, of which W. R. Woobury is president, was closed Monday. It will liquidate its affairs and go out of business. The Union bank was closed during the panic in 1893, but subsequently resumed business, and later was consolidated with the State National bank, which also had been closed during the panic. It is said the depositors will lose nothing, and business will not be seriously affected.


Article from Grant County Herald, August 1, 1895

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Article Text

Denver Bank Closed. Denver, Colo., July 29.-The Union National Bank of which R. W. Woodbury is president, has closed. It will liquidate its affairs and go out of business. The Union bank was closed during the panic in 1893, but subsequently resumed business and later was consolidated with the State National Bank, which also was closed during the panic. It is said the depositors will lose nothing and business will not be seriously affected.


Article from The Salt Lake Herald, August 1, 1895

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Article Text

Touched Some Salt Lakers. The failure of the Union National bank of Denver caught several of Salt Lake's banks for small amounts, but the local institutions will not lose a cent through the suspension of the Colorado house. It is stated that the liquidation will be full and not long delayed.


Article from The Goodland Republic, August 2, 1895

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Article Text

DENVER, July 30.-The Union National bank, of which R. Woodbury is president, was closed today. It will liquidate its affairs and go. out of business. The Union bank was closed during the panic in 1893, but subseqently resumed business and later was consolidated with the State National bank, which had also been closed during the panic. It is said the depositors will lose nothing and business will not be seriously affected.


Article from The Salt Lake Herald, August 3, 1895

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Article Text

WASHINGTON.-The comptroller of the currency today appointed William S. Nelson, of Denver, receiver of the Union National bank, which suspended payment July 27.


Article from Deseret Evening News, August 3, 1895

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Article Text

Receiver Appointed. WASHINGTON, Aug. 2.-The comp. troller of the currency today appointed Wm. 8. Nelson, of Denver, receiver of the Union National bank, which suspended payment on July 27. I


Article from Evening Star, August 5, 1895

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Article Text

Bank Receiver Appointed. The controller of the currency has appointed William S. Nelson receiver of the Union National Bank of Denver, Col., and Granville C. Stapylton receiver of the First National Bank of Ocala, Fla,


Article from St. Paul Daily Globe, August 7, 1895

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Article Text

Another Denver Bank Closes. DENVER, Col., Aug. 6.-The Rocky Mountain Savings bank closed its doors today, an assignment being made to Earl H. Cranston for the benefit of creditors. No statement of assets and liabilities has yet been made. Last week a demand was made on the bank for $28,000 county funds on deposit in it, and it was unable to make payment. The president is Frank Woodbury, son of R. W. Woodbury, president of the Union National bank, which suspended last week, and the two institutions were intimately associated in business.


Article from The Advocate, August 7, 1895

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Article Text

WASHINGTON, August 2.-The com troller of the currency to-day appointe William S. Nelson receiver of the Uniq National bank of Danver.


Article from Courier Democrat, August 8, 1895

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Article Text

Receiver Appointed. Washington, Aug. 4.-The controller of the currency to-day appointed W. S. Nelson receiver of the Union NaNonal Bank of Denver.


Article from The Princeton Union, August 8, 1895

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Article Text

Receiver Appointed. Washington, Aug. 4.-The controller of the currency to-day appointed W. S. Nelson receiver of the Union Na. tional Bank of Denver.


Article from The Red Cloud Chief, August 9, 1895

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Article Text

A Denver Savings Bank Closed. DENVER, Col., Aug. 7.-The Rocky Mountain Savings bank closed its doors to-day and assigned to Earl M. Cranston. Last week a demand was made upon the bank for $28,000 of county funds and it was unable to make payment. It was closed during the panic of 1893, but was subsequently reopened, certificates being issued to depositors. The president is Frank Woodbury, son of R. W. Woodbury, president of the Union National bank, which suspended last week.


Article from Great Falls Weekly Tribune, August 9, 1895

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Article Text

It Went Under. DENVER, Aug. 6.-The Rocky Mountain Savings bank closed its doors today, assignment being made to Earl M. Cranster for the benefit of creditors. No statement of assets or liabilities has yet been made. Last week a demand was made upon the bank for $28,000 of county funds on deposit in it and it was unable to pay. This bank was closed during the panic of 1893, but subsequently reopened, certificates being issued to depositors. The president is Frank Woodbury, son of R. W. Woodbury, president of the Union National bank, which suspended last week, and the two institutions were intimately associated in business.


Article from The Washburn Leader, August 10, 1895

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Article Text

Receiver Appointed. Washington, Aug. 4.-The controller of the currency to-day appointed W. S. Nelson receiver of the Union National Bank of Denver.


Article from Rocky Ford Enterprise, December 5, 1895

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Article Text

To Dissolve the Receivership. Washington, D. C., Nov. 30.-Mr. Eckles, the comptroller of the currency, has decided to dissolve the receivership of the State National bank of Denver. This will leave the great bulk of the assets of the State National in the hands of the receiver of the Union National bank, who will collect them as trustee and not as receiver, and when collected he will apply them to the liquidation of the State National's obligation to the Union National bank. The State National bank will proceed in voluntary liquidation, and the future relations of the banks will be in accordance with the contract entered into by them at the time of the sus. pension. With regard to the block of Wolftone mining stock purchased some years ago by the directors of the State National bank itself, the comptroller has decided not to interfere as requested to do by the stockholders. who insist that this stock, which has materially increased in value, should be restored to the bank assets. Any further proceedings in this matter will have to be taken in the courts.


Article from Evening Star, December 16, 1896

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Article Text

Bank Receiver Appointed. J. 8. Schofield of Albuquerque, N. M, has been appointed receiver of the Union National Bank of Denver, Col.


Article from The Morning Times, December 16, 1896

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Article Text

Denver Bank Receiver. The Comptroller of the Currency has appointed J. S. Schofield, of Alberquerque, New Mexico, receiver of the Union National Bank, of Denver, Col., vice Nelson, resigned.


Article from The Copper Country Evening News, December 17, 1896

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Article Text

Receiver of a Denver Bank. Washington, Dec. 17.-J. S. Scofield of Albuquerque, N. M., has been appointed by the comptroller of the currency receiver of the Union National bank at Denver.