Article Text
On a Denver Bank. DENVER, May 25.-There has been a great run to-day on the People's Savings bank, but it appears to be sound.
People's Savings Bank (Denver, CO)
Episode Information
- Episode UID
4816258291121- Episode Type
- Run → Suspension → Closure
- Bank Type
- savings
- Bank ID
-
481625829hash - Start Date
- May 25, 1893
- Location
- Denver, Colorado (39.739, -104.985)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
8cbd9e268c8d6350
Response Measures
None
Description
Suspension in July 1893 followed May run; assignee/receiver and final dividend paid indicate permanent closure.
Events (4)
1.
May 25, 1893
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- An idle report that J. M. Berky owed a large sum to the bank sparked withdrawals; described as a 'silly scare' and idle rumor.
- Random Run
- Yes
- Random Run Snippet
- Idle report J. M. Berky owed bank large sum; silly scare
- Measures
- Clearing house association support; notice requiring withdrawal notice on sums over $25 (per bank rules).
- Newspaper Excerpt
- There has been a great run to-day on the People's Savings bank, but it appears to be sound.
- Source
- newspapers
2.
July 17, 1893
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Loss of financial backing from eastern backers (refused further assistance due to local sentiment after Denver silver convention).
- Newspaper Excerpt
- The People's Savings bank suspended to-day. Its eastern backers ... declined to give it further financial assistance.
- Source
- newspapers
3.
August 1, 1893
Receivership
- Newspaper Excerpt
- The report of F. C. Schrader, assignee of the People's Savings Bank of Denver, Colo., was made public Tuesday. The liabilities are $1,125,667.55, and the assets $1,114,451.09.
- Source
- newspapers
4.
January 2, 1894
Other
- Newspaper Excerpt
- The People's Savings bank paid out an assignee's dividend of 10 percent, amounting to $95,000.
- Source
- newspapers
Newspaper Articles (24)
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Article Text
Run on n Bank. DENVER, May 25.-The run on the people's Savings bank was much less severe this morning and It is believed that by the time to close this afternoon it will be practically over. -
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Stopped a Run on a Bank. DENVER, May 25 The run on the People's Savings bank which gained such force yesterday was practically broken by the prompt action of the clearing house association. A large number of depositors were present when the bank opened this morning, but they were confronted with a notice that on all sums over 825 the usual notice of withdrawal of deposits under the rules of the bank must be given.
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RUN ON A BANK. Denver, Col., May 25.-An Idle report was started yeaterday that J. M. Berky, who recently falled for $200,000, owed a greater part of the amount to the Peoples' Savings bank of this city. The rumor grew and many depositors withdrew their money. The aggregate paid out during the day was $175,000. The FULL continued today but is slacking up. The bank is paying promptly.
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A RUN ON A DENVER BANK ENDED. Denver, Col., May 26.-The run on the People's Savings Bank, is over, and the bank's credit is better than ever. Besides being backed by the Clearing House Association the People's Bank received heavy
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THE RUN on the People's Savings bank of Denver seems to have been the result of a silly scare. If the depositors were in danger of losing anything, it would have been because of their raid, producing the very thing to their detriment that they feared. People who have money in banks ought to keep cool in times of financial distress if they don't want to bring about panics by which they must suffer.
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A Denver Bank Suspended. DENVEE, July 17.-The People's Savings bank suspended to-day. Its eastern backers, in view of the sentiment of the people of Colorado, as expressed in the resolutions and speeches at the recent Denver silver convention, declined to give it further financial assistance.
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The People's Savings Bank of Denver Suspends-Another Institution Also, DENVER, Col., July 17.-The People's Savings bank and the Rocky Mountain Dime and Dollar and Colorado Savings banksuspended to-day The assets of the People's Savings bank are $1,500,000; liabilities $1,850,000.
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DENVER, July 26 -M. J. Lawrence, president of the suspended People's savings bank and of the People's national bank has just been arrested on the charge of grand larceny.
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M. J. LAWRENCE ARRESTED M. J. Lawrence, president of the suspended People's Savings bank of Denver, was arrested on July 26, charged with grand larceny.
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The report of F. C. Schrader, assignee of the People's Savings Bank of Denver, Colo., was made public Tuesday. The liabilities are $1,125,667.55, and the assets $1,114,451.09, showing excess in liabilities over assets of $1,516.46. F.C. Schrader, the assignee, was cashiier of the bank at the time of the suspension.
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A WRATHY DEPOSITOR. Fraud and Conspiracy Charged Against a Denver Bank. DENVER, Aug. 4.-William Coleman, a depositor in the suspended Peoples' Savings Bank, has begun suit against the bank, its officers, shareholders and directors to recover $2,000, which he had on deposit in the institution. He also asks for an execution against the bodies of the defendants, and that they be placed in jail until judgment shall be obtained and satisfied. Charges of fraud and conspiracy are made against the bank authorities. President Lawrence, of the suspended bank, is now in New York endeavoring to raise money with which to reopen the institution.
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brighter. A DEPOSITOR Sues the Suspended People's Savings Bank of Denver to Recover His Deposit. DENVER, Aug. 4.-William Coleman, a depositor in the suspended People's Savings bank, has begun suit against the bank, its officers, shareholders and directors to recover $2,000 which he had on deposit in the institution. He also asks for an execution against the bodies of the defendants and that they be placed in jail until judgment shall be obtained and satisfied. Charges of fraud and conspiracy are made against the bank authorities. President Lawrence, of the suspended bank, is now in New York endeavoring to raise money with which to re-open the institution.
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CHARGES OF FRAUD. Denver, Aug. 5.-William Coleman, a depositor in the suspended People's Savings bank, has begun suit against the bank, its officers, shareholders and directors to recover $2,000, which he had on deposit in the institution. He also asks for an execution against the bodies of the defendants, and that they be placed in jail until the judgment should be obtained and satisfied. Charges of froud and conspiracy are made against the bank authorities. President Lawrence. of the suspended bank. is now in the East endeavoring to raise money with which to open the institution.
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SUIT BY A DEPOSITOR. DENVER, Aug, 3.-Wm. Coleman, a depositor in the suspended Peoples' Savings bank, began suit against the bank officers, shareholders and directors to recover $2000 on deposit in the bank. Charges of fraud and conspiracy are made against the bank author ities.
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Hilton, of Oshkosh, receiver of the Northwestern Car & Machinery Co., established last summer. This company built an extensive plant on a promise of a $25,000 bonus, which was never paid. THREE young ladies of Xenia, O., Misses Sallie and Sophia Kelso and Miss Lella Dill, were killed by a westbound train, at the edge of the city, while on their way home from a visit to a sick girl. AT the dinner table Adam Smith, a few miles north of Cincinnati, quart reled with his wife. He then shot her, causing instant death. Threats are f made to lynch him, but so far he has eluded capture. CLARENCE M. OVERMAN, late president of the Citizens' national bank of Hillsboro, O., pleaded guilty to embezzlement of the bank's funds and was sentenced to five years' imprisonment in the penitentiary. THE suit for the forfeiture of the charter of the Atchison & Nebraska line and the annulment of the Burlington lease on the same road has been dismissed by the Nebraska supreme court. EIGHTY persons have been admitted to bar by the Illinois supreme court. T. COLEMAN, a merWILLIAM the Francisco, pioneer aged chant, died at San 69 years. He was born in Kentucky, and was a prominent figure in connection with "The Vigilants" a number of years ago. IT is estimated that the coal output for Colorado for 1893 will reach $10,000,000; for Wyoming, $5,000,000; New Mexico, $4,000,000. SEVEN lives were lost by the burning of goods store a large dry Moore at Detroit, & Co. Mich., occupied by Edson, The damage amounted to $800,000. THE People's savings bank, of Denver, will resume business at an early day. The plan has been arranged and an agreement placed before the depositors for their signatures. The bank is to be reopened under a new management. THE health commissioner declares that is small-pox epidemic in Chicago. of the There are now eighteen cases disease in the city pest house. ALTHOUGH the 23d was designated as of thanksgiving by the governor of it was not as day Oregon, observed commercial such inby the state office and stitutions. A MEETING of the leading manufacturers of redwood lumber was held in San Francisco, the object being to control the output of the redwood mills. to reduce the annual outto about 200,000,000 effect put They propose the feet price. and a general increase in LOUIS HILLIARD, the cashier who embezzled about $15,000 from the Chicago Tribune Co., was sentenced to four years in the penitentiary. THE cruiser Olympia averaged 22.2 knots on her trial at Santa Barbara, Cal. THE Henrietta theater and adjoining at Columbus, O., were defire. The amounted stroyed buildings by damage lost his life. to $1,000,000. One man TUCKER was Lyndon, for train FRED Kan., acquitted wrecking at at four Barclay, Kan., by which three or Santa Fe trainmen were killed. THE St. Joseph, Mo., labor unions have boycotted St. Louis beers because of the strike. ANDREW Joy, of Chicago, is suspected of complicity in the Cronin murder. disease is be AN unknown reported calves in to raging among the young Oklahoma and the Indian territory. ONE hundred feet of the great ore docks at Fairport, O., were destroyed by fire and the ore and two hoisting machines went into the lake. D. R. Dix, alias J. Fosborn, formerly of the Armour Packing Co., at has at Ashland, manager Wis, been charged arrested that San Francisco. It is he disappeared leaving a shortage of $3,000 in his accounts Gambling was the cause. JESSE D. O. SMITH, formerly a merchant of Kankakee, Ill., murdered his divorced wife and a Mrs. Graybell, and then shot himself. Both women were shot through the heart. THE SOUTH.
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Savings Bank Reopened DENVER, COLO., December 81.-The Denver Savings Bank, which succumbed to the panic of last July only after a most stubborn fight, will reopen for business Tuesday, January 2. The People's Savings Bank has abandoned the attempt to resume, and will pay a dividend of 10 per cent. on $955,000 of proven claims next Tuesday.
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A Denver Bank Resumes. DENVER, Jan. 1.-The Denver Savings bank, which succumbed to the panic of last July only after a stubborn fight, will reopen for business tomorrow. The People's Savings bank has abandoned the attempt to resume, and will pay a dividend of 10 per cent. on $935,000 of proven claims tomorrow.
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Denver Saving Bank Resumes. DENVER, Colo., Jan. 1.-The Denver Savings bank, which succumbed to the panic of last July, only after a most stubborn fight, will report for business to-morrow. The People's Savings bank has abandoned the attempt to resume, and will pay a dividend of 10 per cent on $955,000 of proven claims next Tuesday.
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A Denver Bank Resumes. DENVER, Jan. 1.-The Denver Savings bank, which succumbed to the panic of last July only after a stubborn fight, will reopen for business tomorrow. The People's Savings bank has abandoned the attempt to resume, and will pay a dividend of 10 per cent. on $955,000 of proven claims tomorrow.
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Paying Their Depositors. DENVER, Jan. 2.-Two of Denver's closed savings banks put $250,000 in circulation today. The People's Savings bank paid out an assignee's dividend of 10 percent, amounting to $95,000. The Denver Savings bank. which closed during the July panic, resumed business today. The bank is paying 10 per cent to all depositors who ask it, and to those who did not sign the resumption agreement the full amount of their deposit is paid. The deposits so far have equaled the withdrawals.
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Banks Resume. DENVER, Col., Jan. 2.-Two of Denver's closed savings banks put in circulation a quarter of a million dollars today. The People's Savings bank paid out an assignee's dividend of 10 per cent, amounting to $95,000. The Denver Savings bank, which closed during the July panic, resumed business today. The bank IS paying 10 per cent to all depositors who ask, and to those who did not sign the resumption agreement the full amount of -their deposits is paid. The deposits SO far have equaled the withdrawals.
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Business Troubles. Denver, Col., June 29.-The People's Savings Bank was forced to make a second assignment to-day. F. J. Spencer was named as assignee. The action was taken for the reason that sufficient funds could not be raised to pay the July certificates. Denver, Col., June 29.-Suit begun to-day by the Mercantile Trust Company of New York for the appointment of a receiver for the Colorado Mining Stock Exchange.
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Receiver of Defunct Bank. DENVER, Colo., Aug. 19.-T. S. Levick this morning was appointed receiver of the People's Savings bank.