Old Waggoner House in Telluride

Charles Waggoner, president of the Bank of Telluride, contrived a scheme purportedly to save his bank in the Wall Street Crash of 1929. By siphoning money from New York banks, he possibly kept most Telluride depositors in the black. Waggoner testified in court, "I would rather see the New York banks lose money than the people of Telluride, most of whom have worked all their lives for the savings that were deposited in my bank." Waggoner was sentenced to 15 years in prison but was paroled after six years. He never returned to Telluride.