Salt Lake Herald | 1899-06-16 | Page 7 | Colorado Bank Closes

COLORADO BANK CLOSES Private Concern at Montevista Shuts Its Boors Montevista Cole June 15The State bank a private concern has posted a notice Closed until return of president presi-dent The bank also has offices at Hooper and Creede Its nominal capital cap-ital is 80000 The total liabilities given to the public at the last statement were 25534 The asserts were 114 469 J D Maben president of the three closed banks arrived today from Denver Den-ver He said that a receiver will probably I prob-ably be appointed but further than I this he would give no information It is estimated by those in position to judge with tolerable accuracy that the liabilities of the Montevlsta bank are 25 000 the Miners bank of Creede 40 000 the Farmers bank of Hooper 20 000 The assets are the bank buildings I at Montevista and at Creede both estimated esti-mated to be worth J5000 and about 5100000 ofloans and discounts the latter lat-ter item being counted by those who know something of its character to be worth 25 per cent of its face value The capital stock of the bank is 75 I WO most of which is held in Fitchburg Fitch-burg MaCs and Sanford Me The principal stockholders are reported to be wealthy and as they are liable to the full amount of their stock it Is thought that the depositors of the Montevista bank at least will be paid in full