Union Bank (Greeley, CO)

Episode Information

Episode UID
6403534991123
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
640353499 hash
Start Date
July 19, 1893
Location
Greeley, Colorado (40.423, -104.709)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
02877a8f87374e0a

Response Measures

None

Description

Contemporary accounts state the assignment was voluntary to avoid attachment law and that depositors were safe.

Events (4)
1. July 19, 1893 Run
Cause
Correspondent
Cause Details
Withdrawals accelerated after suspension of certain Denver national banks that held the Union Bank's deposits, plus $80,000 withdrawn over prior days
Measures
Bank closed doors at 1 P.M.; later made an assignment to a trustee/assignee
Newspaper Excerpt
As soon as the fact of the suspension of these banks became known a steady run was made on the First National... steady withdrawal of $80,000 the past nine days
Source
newspapers
2. July 19, 1893 Suspension
Cause
Correspondent
Cause Details
Compelled to suspend after correspondent (Denver) national banks suspended and heavy withdrawals exhausted reserves
Newspaper Excerpt
The Union Bank closed its doors at 1 P. M. to-day... they were compelled to suspend business.
Source
newspapers
3. July 22, 1893 Other
Newspaper Excerpt
The Union bank of Greeley, Col., made an assignment to James F. Benedict of Denver. It is said that the bank is perfectly solvent, but that the assignment was made because it was feared some creditor would take advantage of the new attachment law recently passed by the legislature.
Source
newspapers
4. August 30, 1893 Reopening
Newspaper Excerpt
The Union Bank at Greeley, Col., also opened for business yesterday.
Source
newspapers

Newspaper Articles (24)
1. July 20, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 20, 1893

Click image to open full size in new tab

Article Text

Caused by Deaver Failures. Special to the Indianapolis Journal. GREELEY. Col., July 19.-The Union Bank closed its doors at 1 P. M. to-day and a half hour later the Greeley National pulled down its blings and turned the key in its door. The Union liabilities are $100,000, with assets and paid-up capital of $300,000. As BOON 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 checks and drafts until the e losing hour.

2. July 20, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 20, 1893

Click image to open full size in new tab

Article Text

Denver Did It. GREELY, Col., July 19.-The Union bank closed its doors at 1 p. m. today, and half an hour later the Greely national pulled down its blinds and turned the key in the door. The Union statement states that owing to the suspension of certain Denver national banks which had on deposit several thousand dollars of its money, and the fact of a steady withdrawal of $80,000 the past nine days they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital at $600,000. As soon as the fact of the suspension of these banks became known a steady run was made on the First National, but they continued to honor all checks and drafts and even after the regular closing hour cashed two checks presented.

3. July 20, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 20, 1893

Click image to open full size in new tab

Article Text

Denver Did It. GREELY, Col., July 19.-The Union bank closed its doors at 1 p. III. today, and half an hour later the Greely national pulled down its blinds and turned the key in the door. The Union statement states that owing to the suspension of certain Denver national banks which had on deposit several thousand dollars of its money, and the fact of a steady withdrawal of $80,000 the past nine days they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital at $600,000. As soon as the fact of the suspension of these banks became known a steady run was made on the First National, but they continued to honor all checks and drafts and even after the regular closing hour cashed two checks presented.

4. July 20, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, July 20, 1893

Click image to open full size in new tab

Article Text

IN COLORADO AND KANSAS. State and National Banks Forced to Suspend Business. GREELEY, Colo., July 20.-The Union bank closed its doors, and a half hour later the Greeley National pulled down its blinds. The Union statement is to the effect that owing to the suspension of certain Denver national banks which had on deposit several thousand dollars of its money, and the fact of a steady with. drawal of deposits-about $80,000 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 scon 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 closing hour cashed two checks presented.

5. July 22, 1893 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, July 22, 1893

Click image to open full size in new tab

Article Text

BANK TROUBLES. The Southside Savings bank, Milwaukee, Wis., did not open its doors this morning, and there was a heavy run on the German-American and the Merchant's Exchange banks. The Milwaukee National bank also closed its doors. The Kentucky National bank of Louisville, Ky., closed its doors this morning. This bank's last statement showed $190,000 to the credit of the government. The State National bank of Vernon, Tex., has closed its doors. Every cent of money was paid out except one ten cent piece before the doors closed. The private banking house of J. and L. W. Galbraith, Lampasas, Tex., failed to open its doors yesterday. Liabilities, $60,000; assets, $120,000. The Citizen's bank of Jellico, Tenn., the only banking institution in that place failed to open for business yesterday. The First National bank of Anthony, Kas., closed its doors yesterday. Assets $154,000; liabilities $50,000. The Union bank of Greeley. Col., made an assignment yesterday.

6. July 22, 1893 The Durham Daily Globe Durham, NC
Article from The Durham Daily Globe, July 22, 1893

Click image to open full size in new tab

Article Text

BANKS BURST STILL Milwaukee Wrapped Up by Big Runs and Things. Colorado Continues to Come to the Front with Many. BLEEDING KANSAS ALSO VICTIMIZED People Who Come and Go-Brief Brevities of Interest to All Readers of The Globe. NEW YORK, July 22.-[Special. 1- News from the west to-day, viewed in one light, is of a most discouraging character. There was a bank failure at Butte City, Montana, and, supposedly, a serious one. There were also runs on other banks there. A Jellico, Tenn, the Citizens' bank failed to-day. The Union bank at Greeley, Colorado, assigned this afternoon. No figures are given. The First National bank at Anthony, Kansas, assigned to day. Liabilities $50,000, assets unknown. But at Milwaukee, Wisconsin, the biggest failure is on. The Milwaukee National has gone to the wall. The South Side Savings bank closed its doors this morning. This precipitated runs on all the banks in the city. Unless excited depositors see the folly of their actions, many other banks will close this afternoon. There is intense excitement here FOWLER to day.

7. July 22, 1893 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, July 22, 1893

Click image to open full size in new tab

Article Text

crushed and burned in a horrible manner and was dead when extricated. Among the failures reported to-day are the Citizens' Bank of Jellico, Tenn; the First National Bank of Anthony, Kon.; the Milwaukee National Bank and South Savings Bank of Milwaukee: the Union Bank of Greeley, Col ; the private banking house of J. and L. Galbraith at Lampasas, Tex.; the State National Bank of Knoxville, Tenn.; the Kentucky National Bank of Louisville; and the State National Bank of Vernon, T.x. There is a heavy run on the German American and Merchants' Exchange Banks of Milwankee. At Shooting Park on the outskirts of Milwaukee, Wis., two thousand five hundred turners from all parts of the United States c ngregated yesterday, and the twenty-sixth annual bundesturufest WAS inaugurated. A duel, that resulted fatally to both the participants, took place in the outskirts of Victoria. Mex., on Thursday between a young law student and a young business man. The quarrel was over a young woman. Weather permitting Edw. Hanlan and Jacob Gaudaur will row at Orillia, Ont., this afternoon for the championship and a stake of $2,000.

8. July 22, 1893 The Bessemer Indicator Pueblo, Bessemer, CO
Article from The Bessemer Indicator, July 22, 1893

Click image to open full size in new tab

Article Text

Outside of Denver. A number of country banks have suspended, among the number being the Union Bank of Greeley, the J. B. Wheeler Banking Co. of Aspen, the Bank of Loveland and the Bank of Sterling

9. July 22, 1893 The Providence News Providence, RI
Article from The Providence News, July 22, 1893

Click image to open full size in new tab

Article Text

have GONE TO THE wall. Additional Bank Failures Announced Over the Wire Today. MEMPHIS, Tenn., Ju'y 22 -The city bank of Jollico, Tenn., the only banking nstitution in the place, has failed. In Greeley, Colorado, GREELEY, Col. July 22.-The Union bank has made an assignment to James F. Benedict of Denver. It is said that the bank is perfectly solvent, but that the assignment was smade because it as feared some creditor would take advantage of the new attachment law recently passed by the legislature, In Texas. Lampasa, Tex., July 22.-The private banking house of J. and L. W. Galbreach did not open its doors today. The liabilities of the concern are $60,000, assets $120,000. A run on the first national bank is in progress. In Wisconsin. MILWAUKEE, Wis., July 22.-The Milwaukee National bank and the South Side-Savings bank failed to open their doors this morning. Runs are now in progress on all of the principal hanks in the city and failures are hourly expected. In Kansas. TOPEKA, Kan., July 22.-The First National bank of Anthony has closed its doors. The assets are placed at $154,000, and liabilities $50,000.

10. July 22, 1893 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, July 22, 1893

Click image to open full size in new tab

Article Text

Business Complications. Flanders' dry goods house, Denver, has assigned. The Union Stock Yards company, San Francisco, was attached. The Northern Manufacturing company, Ashland, Wis., has assigned. The First National banks of Canon City and Grand Junction, Colo., have failed. The Union bank and the Greeley National bank of Greeley, Colo., have closed.

11. July 22, 1893 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, July 22, 1893

Click image to open full size in new tab

Article Text

THE FINANCIAL SCARE. Many Banks in the West Close Their Doors To-Day. MILWAUKEE, Wis, July 22.-The National bank and the South Side savings bank failed to open their doors to-day. TOPEKA. Kan July 22.-The First National bank at Anthony has closed its doors. LAMPASA, Tex, Julv 22.-The private banking house of P. & L. W. Galbray did not open to-day. A run on the First National bank is in progress. MEMPHIS, Tenn, July 22 -The City bank at Jellica has failed. GREELEY, Col., July 22 -The Union bank has made an assignment.

12. July 23, 1893 The Times Richmond, VA
Article from The Times, July 23, 1893

Click image to open full size in new tab

Article Text

Also National Banks of Tennessee, Texas and Wisconsin Forced to the Wall. LOUISVILLE, KY., July 22.-The Kentucky National Bank, of this city, closed its doors this morning. The capital stock is $1,000,000. paid up. This bank is also a Government depository, and its last statement show $190,000 to the credit of the Government The loans and discounts outstanding amounted to $1,719,366, and the surplus was $108,500. It is thought that the bank will be able to resume business in a short time. It has been carrying an immense amount of paper, which, although gilt edge, could not be realized on. The bank is the Government depository, and in the statement of the bank. published July 19th, the Government's deposits are placed at $191,731. Deposits of the United States disbursing officers, $138,268. According to the statement, the amount of cash on hand July 19th was a little over $85,000, Individual deposits subject to check of $311,693. and the loans and discounts were $1,719,966. The bank got into serious trouble in the fall of 1890, by having very heavy deposits from the country banks. which were checked so rapidly as to threaten a suspension of the bank. It has never recovered from that trouble, and its failure has been expected for several months. No other banks are hurt. The Kentucky National Bank was a United States depository, and has Government deposits amounting to about $300,000, and its inability to make prompt transfers on this account was the immediate cause of the suspension to-day. During the past three years its surplus has been changed off from $300,000 to $100,000. The officers and directors do not expect to resume for some time, if at all, and it is generally thought that it will not resume at all, unless it should be entirely reorganized. ⑉ Bank Examiner Escott b-right authorizes the official statement that he has examined all the national banks in Louisville, and its vicinity, and they are all solvent. and most of them in very good condition. Future trouble is not expected, unless the small depositors, mainly Germans, become frightened over Sunday and start runs on the banks having large numbers of small depositors. KNOXVILLE, TENN July 22.-The State National Bank closed this morning after opening four minutes. notice was posted on the door saying: "This bank has closed for liquidation. Depositors will be paid in full. The State National Bank, of this city, closed its doors this morning. The bank has long been known to be the weakest in the city. Yesterday, when $20,000 in deposits were withdrawn. it was more than it could stand. A meeting of the directors was held last night. An offer of $40,000 to pay depositors should a run occur to-day was made by other banks. The offer was not accepted, however. When it opened for business this morning a run was precipitated, which only lasted a few minutes, as the bank closed its doors for liquidation. A notice on the door says it will pay depositors dollar for dollar. The stock holders will also receive 85 cents on the dollar. It was feared that the closing of the State National would cause a panic in Knoxville financial circles, which have heretofore been considered very strong. A slight run was only made on the City National Bank, which is just opposite the street, but depositors were paid in full. The scare was soon over. There is no more uneasiness felt here. LAMPASAS, TEX., July 22. The private banking house of J. & L W. Galbraith failed to open its doors yesterday, having made an assignment to Camp bell. Liabilities, $60,000; assets, $120,000. A run on the First National Bank was started, but it was fortunately in position to withstand all demands. The depositors in the Galbraiths' bank will be paid in full. DENVER, COL., July 22.-On petition of the General Electric Company, Judge Hallett, in the United States Court to-day appointed E. B. Shattuck, of Pueblo, receiver of the Pueblo City Railway Company and the International Trust Company. The liabilities of the company are placed at $700,000. VERNON, TEX. July 22.-The State National Bank or Vernon closed its doors yesterday. Every cent of money was paid out. except ten cents, before the doors were closed. The failure is due to the inability to realize on securities. The directors state that depositors will be paid in full. MILWAUKEE, WIS. July -The Milwaukee National Bank closed its doors this morning. MILWAUKEE, WIS., July 22.-The Southside Savings Bank did not open its doors this morning. TOPUKA, KAN., July -The First National Bank of Anthony closed its doors yesterday. Assets, $154,000; liabilities, $50,000. MEMPHIS, TENN., July 22.-The Citizens' Bank, of Jellico, Tenn., the only banking institution in that place, failed to open for business yesterday. GREELEY, COL. July 22. The Union Bank made an assignment yesterday. It is thought the step was voluntarily taken to avoid a contingency that might arise should some creditor take advantage of the attachment law. The bank is perfeetly solvent, and not one depositor will lose a dollar. RUSSELL KAN., July 22 The First National Bank, of this place, closed this afternoon, and was taken possession of by C. M. Sawyer, on the order of the Comptroller of the Currency. No statement is made. Run on a Homestead Bank. HOMESTEAD, PA., July 22.-A run of mada on the

13. July 23, 1893 The Sun New York, NY
Article from The Sun, July 23, 1893

Click image to open full size in new tab

Article Text

Western Banks that Are Closed. GREELEY. Col., July 22-The Union Bank made an assignment yesterday morning to James F. Benedict of Denver. It is thought this step was voluntarily taken to avoid the contingency that might arise should some creditors take advantage of the attachment law. The bank is perfectly solvent and not a depositor will lose a dollar. TACOMA. Wash., July 22.-A. G. Foster was appointed receiver of the Traders' Bank yea. terday. President Fitch states that the assets will pay all the obligations and leave a large surplus. Henry A. Strong of Rochester. N. 1.0 and John D. Rockefeller were the largess stockholders. It is expected that the bank will resume soon. TOPEKA. Kan., July 22.-The First National Bank of Anthony closed its doors yesterday and posted up notice of assignment. Its ase sets are $154, 000 and liabilities $50,000. RUSSELL. Kan., July 22.-The First National Bank of this place closed this afternoon. and was taken possession of by C. M. Sawyer on order of the Comptroller of the Currency. No statement is made. WASHINGTON. July 22.-The Comptroller has appointed William A. Rice receiver of the Puget Sound National Bank of Everett. Wash., and Mr. George 8. Hoffmann receiver of the Bozeman National Bank. Bozeman. Mont.

14. July 23, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 23, 1893

Click image to open full size in new tab

Article Text

Sundry Banks Suspend. [By telegraph to the Dispatch.] MEMPHIS, TENN., July 22.-The Citizens' Bank of Jellico, Tenn., the only banking institution in that place, failed to open for business yesterday. No figures known. GREELEY, CoL., July 22.-The Union Bank made an assignment yesterdav. It 18 thought the step was voluntarily taken to avoid a contingency that might arise should some creditor take advantage of the attachment law. The bank is perfectly solvent and not a depositor will lose a dollar. VERNON, TEX., July 22.-The State National Bank of Vernon closed its doors yesterday. Every cent of money was paid out, except ten cents, before the doors were closed. The failure was due to inability to realize on securities. The directors state that depositors will be paid in full. LOUISVILLE, Kr., July 22.-The Kentucky National Bank, this city, closed its doors this morning. Capital stock $1,000,000. paid up. This bank is also a government depository and its last statement showed $190,000 to the credit of the government. The loans and discounts outstanding amounted to $1,719,966, and the surplus was $108,500. MILWAUKEE, WIS., July 22.-The SouthSide Savings Bank did not open its doors this morning. There is a heavy run on the German-American and Merchant's Exchange banks. KNOXVILLE, TENN., July 22.-The State National Bank closed this morning atter opening four minutes. A notice was posted on the door saying: This bank has closed for liquidation. Depositors will be paid in full." MILWAUKEE, WIS., July 22.-The Milwaukee National Bank closed its doors this morning. LAMPASAS, TEX.. July 22.-The private banking-house of J. & L. W. Galbraith failed to open its doors yesterday having made an assignment to J. I. Campbell. Liabilities $60,000; assets. $120,000. A run on the First National Bank started, but it was fortunately in a position to withstand all demands. The depositors in Galbraith's Bank will be paid in full. TOPEKA, KAN., July 22.-The First National Bank of Anthony closed its doors yesterday. Assets, $154,000; liabilities, $50,000. RUSSELL, KAN., July 22.-The First National Bank, of this place, closed this afternoon and was taken possession ot by C. M. Sawyer on the order of the Comptroller of the Currency. No statement is made.

15. July 27, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, July 27, 1893

Click image to open full size in new tab

Article Text

THE PANIC SUBSIDING. MONEY GETTING EASIER EVERYWHERE AND CONFIDENCE RETRUNING. Money Going Back Into the Denver Banks -Suspended. Banks Will Resume Business Shortly-Commercial Bank of Milwaukee Assigns. DENVER, July 21.-Confidence in Denver banks and commercial houses is being restored in the East and at home with nearly the same rapidity that our people attempted its destruction the first three days of this week. There has been no suspension of magnitude for two days and no more are expected. Banking houses have determined that they will push no creditors nor serve an attachment upon those who show an honest disposition towards settling. Times here will probably be until congress meets and that it is expected that if silver then receives fair treatment it will not take long to place Denver and Colorado far in advance of where they were when this transfer came. President D. H. Moffatt of the First National bank has received a telegram from one of the leading banks of New York offering assistance if needed. Mr. Moffat replied with thanks that he had all the money he needed. Other houses have had offers. It is understood that the German and State National have received large sums of money and will be ready to open their doors again within a very short time. CALIFORNIA BANKS REOPEN. SAN BERARDINO, Cal., July 21.-Jas. H. Eckels, comptroller of the currency, has authorized the First Natlonal bank to reopen, which it did this morning. The bank has a large amount of capital on hand, more than enough to pay every possible demand. It is said the Farmers' Exchange bank will also reopen in a short time. BETTER FEELING PREVAILS. NEW YORK, July 21.-The bank presidents reported today that the situation was fairly easy with some shipments of currency to St. Louis, Denver and Kansas City. Money is is easy and there is a more confident feeling everywhere. MILWAUKEE BANK ASSIGNS. MILWAUKEE. July 21.-The Commercial bank failed. It assigned to A. B. Fiefuss, cashier, who filed a bond of $165,000. The troubles of the bank are said to result from its acceptance of a large amount of paper of Corrigan, Ives & Co. The officers of the bank are, E. R. Paine, president; J. C. Flint, vice president, and A. B. Guilfuss, cashier. Capital stock $250,000. The July statement gave total liabiliwhich of ties $1,656,850.85, due is depositors $557,743.22 on demand, $528,915.22 due depositors on time. The direct cause of the sus pension of the bank at this time is attributed to the failure of the Douglass Furnace company of Sharpesville, Pa., of whose certificates of stored pig iron the Commercial bank had about $130,000. It is claimed that somebody ignoring those certificates had the sheriff attach the iron. For some time also depositors in the bank have been quietly withdrawing money from it. A TACOMA BANK. TACOMA, July 21.-The Traders bank suspended today. SCHLESINGER MINING PROPERTY. MILWAUKEE, Wis., July 21.-The first step toward re-organizing the Schlesinger mining property was taken today. A meeting of the Chapin mine owners was held and flve new directors were ehosen. John H. Tweedin, Jr., was elected treasurer. No other changes were made in the directory. GREELY BANK GOES. GREELY, Colo., July 21.-The Union bank assigned today to James F. Benedict of Denver. Depositors are safe. A SMALL BANK. CRESTED BUTTE, Colo., July 21.The Bank of Crested Butte elosed today. Liabilities $35.000, assets $65,000.

16. July 28, 1893 The State Herald Holyoke, CO
Article from The State Herald, July 28, 1893

Click image to open full size in new tab

Article Text

Outside of Denver, A number of country banks have suspended, among the number being the Union Bank of Greeley, the J. B. Wheeler Banking Co. of Aspen, the Bank of Loveland and the Bank of Sterting. The following suspensions were announced on the 20th: The First National of Canon City, the J. B. Wheeler Banking Co. of ManItou and Colorado City, and the First National of Grand Junetion.

17. July 29, 1893 The Meeker Herald Meeker, CO
Article from The Meeker Herald, July 29, 1893

Click image to open full size in new tab

Article Text

Outside of Denver. A number of country banks have suspended, among the number being the Union Bank of Greeley, the J. B. Wheeler Banking Co. of Aspen, the Bank of Loveland and the Bank of Sterling. The following suspensions were announced on the 20th: The First National of Canon City, the J. B. Wheeler Banking Co. of Manitou and Colorado City, and the First National of Grand Junction.

18. August 1, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, August 1, 1893

Click image to open full size in new tab

Article Text

CONTINUED PROSPERITY(i) "The Best Financial System in the World" and "Reform" Continues to Turn Out Victims by the Hundreds----Bank and Commercial Failures Growing More Numerous--A Few of the Largest. Maj J. B. Neal. a large farmer and merchant near Neal's Station, N C., made an assignment on the 17th of July. Edward L. Pell, publisher of a religious paper at Richmond, Va, has assigned. Liabilities $1,300. Mr. Kenny Rose, merchant, Winston, assigned last week. INDIANAPOLIS, Ind., July 25.-The Bank of Commerce and the Indianapolis National Bank have closed. MILWAUKEE, Wis., July 25.-The Fire Insurance Bank has closed. No statement. MILWAUKEE, Wis., July 25 -Cashier Koetting, of the suspended South Side Savings Bank, is missing and also the general ledger of the bank. The liabilities will run up into the millions. The Southern Electric Company, one of the big enterprises of Baltimora, Md., made a voluntary assignment yesterday. Failure to collect over due accounts made it impossible for the company to meet its obligations. The as sets of the concern are estimated at $175,000, liabilities $100,000. CONNORSVILLE, Ind., July 24.-The Citizens' Bank, owned by ex United States Treasurer Huston, failed toopen its doors this morning, owing to the stringency. Liabilities and assets not yet made known. Depositors ill, it is said, be paid in full. TOLEDO. Ohio, July 24 This morn ing the Ohio Oil Well Supply Com pany, operating in the Ohio oil fields at Findlay, Fostoria, Marietta, Rising Sun, Vanwert and Pittsburg, Pa., went into the hands of a receiver upon the application of Edward H. Cole, of Brooklyn, N. Y. One of the largest stockholders. Eaton, in his petition, states that the company indebtedness will amount to over $800,000. TACOMA, Wash July 24.-The Taco ma National Bank, one of thestrongest in the Northwest, suspended this morning. This bank has been assisting other banks in the city for the past six months. LOUISVILLE. July 24 -The - Lousville City National Bank closed its do rs at 1 15 this afternoon. GREAT FALLS, Mont, July 24 -The Merchants' National Bank closed its doors to-day at noon. A notice, signed by the directors, was posted, and stated that all depositors will be paid in full. The bank held $21,000 city funds, $32, 000 county funds and $20,000 of State funds, There is no uneasiness about other banks here. VERNON. Texas, July 22 -The State National Bank of Vernon closed its doors yesterday. Every cent of money was paid out except ten cents before the doors closed. The failure is due to inability to realize on the securities. The directors state that the depositors will be paid in full. LOUISNILLE, Ky., July 22 - The Kentucky National Bank, of this city, closed its doors this morning The capital stock is $1,000,000, paid up. This bank is also a government de pository and its last statement showed $190,000 to the credit of the government. Loans and discounts outstanding amounted to $1,719,966 and the surplus was $108,500. MEMPHIS, Tenn., July 22.-The Citizens' bank of Jellico, Tenn., the only banking institution at that place, failed to open for business yesterday. No figures are known. GREELEY, Col., July 22 -The Union Bank made an assignment yesterday. It is thought that the step was voluntarily taken to avoid a contingency that might arise should some creditors take advantage of the attachment law. The bank is perfectly solvent. Not a depositor will lose a dollar. MILWAUKEE, Wis., July 22.-The Southside Savings bank did not open its doors this morning. There is a heavy run on the GermanAmerican and Merchants' Exchange banks. LAMPASAS, Tex., July 22 The private banking house of J. and L. W. Gal braith, failed to open its doors yesterday, having made an assignment to J. I. Campbell. The liabilities are $60,000; the assets, $120,000. A run on the First National Bank was started, but it was fortunately in a position to withstand all demands. Depositors in Galbraith's bank will be paid in full. TOPEKA, Kan., July 22 -The First National Bank of Anthony closed its doors yesterday. The assets are $154,000 and the liabilities $50,000. MILWAUKEE, July 21.-The First National Bank of this city has failed. KNOXVILLE, Tenn., July 22.-The State National Bank of this city closed its doors this morning. The bank has long been known to be the weakest in the city. Yesterday when $20,000 in

19. August 5, 1893 The Lamar Register Lamar, CO
Article from The Lamar Register, August 5, 1893

Click image to open full size in new tab

Article Text

THE GREAT QUESTION. Senator Pugh of Alabama:-"The unconditional repeal of the Sherman law would place silver where it was under the act of 1873 and would amount to a recognition and indorse ment of that law which every Demo. crat has denounced as: a crime. Senator Sherman would live to see his life long financial policy, for which the Republican party has struggled the for twenty years, fully vindicated by votes of the Democratic representatives. The Sherman law repealed un conditionally leaves silver at the mercy of its enemies." The New York World is inquiring of bankers who have failed, as to the cause of their failure. In response to such a query the directors of the Greeley Union Bank replied: 'The closing of the Indian mints, the fight against silver causing the shutting down of silver mines throughout the and the entire currency West consequent thereupon, contraction has of caused widespread shrinkage in values of all securities, while the uncertainty as to tariff legislation has added largely to the general distrust by depressing prices of all products and alarm and apprehenthe of investors sion causing on general part and pat depositors. As a direct result our rons feared for our safety and their own, which precipitated a panic and an otherwise senseless run upon us of such presistence as to exhaust all our reserve and compel the temporary elosing of our doors." Congressman Bell:-" last com promise the silver will accept is a rehabilitation of the Bland bill with duty on foreign silver. If a compul sory coinage of $4,000,000 a month is secured silver will go to $1 and stay close to that figure. Under such con ditions the mines of Colorado will be reopened with vigor." Senator Teller:-"No there is an error under which a great many people in this country are laboring, and that is the belief that the Sherman law is responsible for all our present troubles. It is all rot to attribute financial pressures to that source. The Sherman is no more to blame for the state of affairs present act than I am. Why, is it responsible for the recent financial disasters in Australia, which s dropped far harder than this country has, and so have several European states, notably Austro-Hungary? Besides these, how about India and the South American states? Can the Sherman act be held to account for their present difficulties? That's nonsense. It is a fact that conditions have been bad and have been growing worse-that one of those periodical crises that cannot be avoided is upon us-hence the deplorable state of af fairs in this and other countries. It is something that cannot be prevented in this age of the world. Rev. E. S. Ralston, Aspen:-"My friends, you and I de.nand, and I deand we want to put it very we demand the of mand, clearly, restoration silver to its true place in the money markets of the world at the ratio to gold of 16 to 1. We demand this for the sake of our industries which are now paralyzed. We demand it for the sake of our homes over which the shadow of destruction is hovering. We demand it for the sake of those whom we over whom we can see love, disaswith its great it for our true as a that we may ence ter We hanging demand nation, black independ- cloud. stand We independent and free once more. demand it for the sake of the laboring men of all this world. If we would

20. August 11, 1893 The State Herald Holyoke, CO
Article from The State Herald, August 11, 1893

Click image to open full size in new tab

Article Text

The New York World is inquiring of bankers who have failed, as to the cause of their failure. In response to such a query the directors of the Greeley Union Bank replied: "The closing of the Indian mints, the fight against silver causing the shutting down of silver mines throughout the entire West and the contraction of currency consequent thereupon, has caused widespread shrinkage in values of all securities, while the uncertainty as to tariff legislation has added largely to the general distrust by depressing prices of all products and causing general alarm and apprehension on the part of investors and depositors. As a direct result. our patrons feared for our safety and their own, which precipitated a panic and an otherwise senseless run upon us of such persistence as to exhaust all our reserve and compel the temporary closing of our doors."

21. August 30, 1893 Evening Star Washington, DC
Article from Evening Star, August 30, 1893

Click image to open full size in new tab

Article Text

SIGNS OF BETTER TIMES. Bank Deposits Increase and Mills Resume Operations. KANSAS CITY, Aug. 30.-Business men and bankers are unanimous in their opinion that the low point in the present financial depression has been reached by Kansas City, and that the upward movement has begun. Bank presidents estimate that the banks have gained $2,000,000 in deposits since the run in July. DENVER, Aug. 30.-The State National Bank will probably open its doors today, having had the permission of the controller for several days. The Commercial, the only remaining national bank which closed during the recent flurry, will probably open before the end of the week. The German National resumed yesterday. The Union Bank at Greeley, Col., also opened for business yesterday. ST. PAUL, Minn., Aug. 30.-The Walter A. Wood Harvester Works will start up in a few days. Work will be provided for between 1,500 and 2,000 men. ST. LOUIS, Mo., Aug. 30.-The St. Louis Stamping Company resumed operations yesterday, after an idleness of several weeks. Mr. W. F. Neidringhaus, the proprietor, has agreed to sign the amalgamated scale. Tomorrow 2,000 men will be at work. The importance of the resumption will be understood when it is known that 10,000 persons will be directly or indirectly affected by it. LEAVENWORTH, Kan., Aug. 30.-At a general mass meeting of the striking coal miners held yesterday it was decided by an almost unanimous vote to declare the struggle at an end and return to work at the old scale. It is expected that all the. mines will soon be in full operation.

22. August 31, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, August 31, 1893

Click image to open full size in new tab

Article Text

BETTER TIMES COMING. Banks Deposits Increase and Mills to resume Oyerations. (By Telegraph to The Dispatch.) KANSAS CITY, Aug. -Business men and bankers are unanimous in their opinion that the low point in the present financial depression has been reached by Kansas City, and that the upward movement has begun. Bank presidents estimate that the banks have gained $2,000,000 in deposits since the run in July. DENVER, Aug. 30.-The State National Bank will probably open its doors today, having had the permission of the controller for several days. The Commercial, the only remaining national bank which closed during the recent flurry, will probably open before the end of the week. The German National resumed yesterday. The Union Bank at Greeley, Col., also opened for business yesterday. ST. PAUL, Minn., Aug. 30.-The Walter A. Wood Harvester Works will start up in a few days. Work will be provided for between 1,500 and 2,000 men. ST. LOUIS Mo., Aug. 30.-The St. Louis Stamping Company resumed operations yesterday, after an idleness of several weeks. Mr. W. F. Neidringhaus, the proprietor, has agreed to sign the amalgamated scale. Tomorrow 2,000 men will be at work. The importance of the resumption will be understood when it is known that 10,000 persons will be directly or indirectly affected by it. LEAVENWORTH, Kan., Aug. 30.- At a general mass meeting of the striking coal miners held yesterday it was decided by an almost unanimous vote to declare the struggle at an end and return to work at the old scale. It is expected that all the mines will soon be in full operation.

23. August 31, 1893 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, August 31, 1893

Click image to open full size in new tab

Article Text

United Press Dispatch by Special Wires. DENVER, CoL., Aug. 30.-The State National Bank will probably open its doors for business, to-day, having had the permission of the comptroller for several days. The Commercial, the only remaining national bank which closed during the recent flurry, will probably open between now and theend of the week. The German National resumed yesterday. The Union Bank at Greeley, Col. also opened for business yesterday. THE UPWARD MOVEMENT HAS BEGUN. KANSAS CITY, Mo., Aug. 30.-Business men and bankers are unanimous in the opinion that the low point in the present financial depression has been reached by Kansas City, and that the upward movement has begun. Bank presidents state that the banks have gained $2,000,000 in deposits since the run in July. WILL GIVE WORK TO MANY MEN. ST. PAUL, MINN., Aug. 30.-The Walter A. Wood harvester works will start up in a few days. Work will be provided for between 1,500 to 2,000 men. GOOD NEWS FOR 10,000 PEOPLE. ST. LOUIS, Mo., Aug. 30.-The St. Louis Stamping Company resumed operations yesterday, after an idleness of several weeks. W.F. Neidringhaus, the proprietor, has agreed to sign the Amalgamated scale. To-morrow 2,000 men will be at work. The importance of the resumption will be understood when it is known that 10,000 persons will be directly or indirectly affected by it. MINERS DECLARE THEIR STRIKE OFF. LEAVENWORTH, KAN., Aug. 30-At a geveral massmeeting of thestriking coal miners, held yesterday, it was decided by an almost unanimous vote to declare the struggle at an end and return to work at the other scale. It is expected that all the mines will soon be in full operation.

24. September 1, 1893 The Durham Daily Globe Durham, NC
Article from The Durham Daily Globe, September 1, 1893

Click image to open full size in new tab

Article Text

A man named JIM Once wrote a hymn, I think his name was DAVIS. It was so tuff Folks cried enough And yelled "Oh, good LORD, save us." And that ended the business. * * COL. HOWELL HARRIS says that he is in a position now to walk to Fairntosh every day in the week. But he will secure a position pretty soon and we will hear of him going a fishing. *** The football scheme of Trinity is good-but what! good is a football when creditors are kicking people down the stairs. * * * The wonder is that Easter hats are still worn. But the stringency of the times account for many strange things. THE BRIGHTER DAY. What Was Tapped Over the Wires Yesterday Concerning Better Times. The Walter A. Wood Harvester works, of St. Paul, Minn., will start up in a few days. Work will be provided for between 1,500 and 2,000 men. Judge Jenkins, of Milwaukee, yesterday granted the receivers of the Northern Pacific permission to issue $5,000,000 receivers' certificates for the purpose of redeeming stocks and bonds held as collateral to secure the company's floating indebtedness. A statement of the condition of the American Tube and Iron company, Har risburgh, shows assets of $2,624,841.10 and liabilities of $1,376,857.20, leaving a net surplus of $1,247,983.90. The sum of $56,654.03 doubtful accounts is not included in the assets. The State National Bank of Denver opened its doors for business yesterday, having had the permission of the comptroller for several days. The Commercial, the only remaining national bank which closed during the recent flurry, will probably open before the end of the week. The German National has resumed, also the Union bank at Greeley, Col., and the St. Louis Stamping company, after an idleness of several weeks. Mr. W.F. Niedringhaus, the proprietor, has agreed to sign the Amalgamated scale. Yesterday 2,000 men were at work. Ten thousand persons will be affected. bankers of Kansas Business men and City, Mo., are unanimous in their opinion that the low point in the present financial depression has been reached by Kansas City and that the upward movement has begun. Bank presidents estimate that the banks have gained $2,000,000 in deposits since the run in July.