Masonic Savings Bank (San Francisco, CA)

Episode Information

Episode UID
2342609990944
Episode Type
Suspension โ†’ Closure
Bank Type
savings
Bank ID
234260999 hash
Start Date
August 22, 1878
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
99936e2c38af6e34

Response Measures

None

Events (1)

1. August 22, 1878 Suspension
Cause
Government Action
Cause Details
Suspended and examined by the state Bank Commissioners who reported liabilities exceeded realizable assets and losses to depositors.
Newspaper Excerpt
The Bank Commissioners make a statement of the condition of the suspended Masonic savings institution.
Source
newspapers

Newspaper Articles (2)

Article from Eureka Daily Sentinel, August 23, 1878

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Article Text

PACIFIC COAST. [SPECIAL TO THE EUREKA DAILY SENTINEL.] CALIFORNIA. MICHAEL REESE'S ESTATE. A MISTRESS AND HER SON PUT IN A CLAIM. Hall MeAllister Declines to Take the Case. SAN FRANCISCO, Aug. 22. Isabella Ancona, a native of Panama, who came here in 1850, and her son, Richard Ramesis, have come forward as claimants to the Recse estate. The lady asserts that the dead millionaire was the father of her boy, but it has not been shown that Michael Reese in any way adopted him, and the publication of the will proves that no pro vision was made for the young man, if indeed the deceased ever admitted the paternity. It is reported that Hall MeAllister declined to take up the case, as he could find no proof of legal rights in the claim. The woman is credited with saying that she lived with Michael Reese from 1853 to 1859. There was a rather larger demand than usual this morning by depositors of the Clay street Savings Bank, on account of the withdrawal of the business of the Masonic Bank. The Clay street Bank also held a large amount of U. S. pay certificates, but it appears that they have not been borne in the assets of the bank, as was the case with the Masonic Bank, and were provided for long ago. The officers of the bank expressed no fear of a run on the concern in case one should be started. By noon the little ripple of excitement had subsided, and affairs at the bank have resumed their former aspect. SACRAMENTO, August 22. The Supervisors to-day elected H. S. Beals to succeed Troy Dye as Public Administrator, the latter having resigned. Dye took the office on March 4th, 1878. Since then he has administered upon but five estates of small value. Anderson has been removed to the county jail from the city prison. After being washed, combed and dressed anew he was scarcely recognizable. He is a tall, well-formed and blueeyed man; his hair is heavy and soft, and combs back from a pretty fair forehead. He is 37 years old. All in all, he does not fill the bill of a hideous villain, so far as appearances go. Dye is above the medium height, rather slim built, prominent cheek bones and of a rather fair complexion. He is 35 years old and weighs about 155 pounds. He is of a smiling countenance, though his features are angular; is affable, winning in his ways, and would be the last man one would take to be a cold-blooded and villainous murderer. The prisoners are kept in iron cells and in separate tiers of cells. Anderson's preliminary examination has been fixed for the 28th instant. The Bank Commissioners make a statement of the condition of the suspended Masonic savings institution. They find the liabilities $1,361,655 good assets, $1,090,256. Capital of the bank. lost, $148,693; reserve. lost, $50,921. The last two amounts, deducted from the difference between the assets and liabilities, leave a loss to depositors of $71,780. WOODLAND, August 22. The dwelling-house of Morris Hymann, in this city, was burned last night, with its contents. Loss, $5,000 ; insured.


Article from Daily Los Angeles Herald, August 23, 1878

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Article Text

Pacific Coast News. The Massaic SAVINGS Bauk. SAN FRANCISCO, August 22.The Bank Commissioners make statement of the condition of the suspended Masonic Savings Institution. They find the liabilities $1,361,655; good assets, $1,090,256; capital of the bank, lost, $148,693; reserve, lost, $50,921. The last two amountsare deducted from the difference between the assets and liabilities, which leaves a loss to de. positors of $71,780. A Refructory Crew-Not Gallty. August 22.-The which was bark SAN Sonoma, FRANCISCO, to sail from this port this morning, shipped a crew that showed its character before going to sea. Yesterday morning, when told to turo out and the ship ready for sea, refused to they get do duty, and the master was forced to hand five of them over to the United States Marshal. The testimony and argument in the case of Charles A. Morrill, late Captain of the Custom House Inwere concluded in the States and at spectors, day, United 10:30 Circuit o'clock Court this yester- morning Judge Sawyer charged the jury, who retired and in half an hour returned a verdict of not guilty. cut His Throat. SAN JOSE, August 22.-A German named Chris. Schmidt, a saloon keeper in this city for many years, cut his throat at his room. The suicide had sat on the edge of the bed and pulled a razor across his throat with such strength as to almost sever his head from his body. Shooting Affiny. SAN LUIS OBISPO, Aug. 22nd.A shooting affray occurred night before last, six miles from town, between Francis Castro and T.B. Jones. The former received one shot, the latter two. Jones died yesterday morning at 4 o'clock and Castro died this morning at The difficulty grew out of a disputed right of way across Castro's place. The chrome Interest is growing into great importance here. The product now exceeds fifty tons daily. Two thousand five hundred tons are at the depot awaiting shipment. A Vereran Beer Drinker Dead. IONE CITY, Cal., August 22.-Frederick Multner, a brewer of this place, died at noon to-day. Deceased has drank nothing but beer for fourteen or fifteen years, water never passing his lips in that time. Increased Grain Product in Ore exon. PORTLAND, Ogn., August 22nd.Harvesting in this State is about two-thirds through. From very full returns it is estimated that there is a large increase over last year. The grain is larger and plumper than known for years and will average from 62 to 63 pounds the bushel. There has been an increased acreage, which more than offsets the average decrease in the yield of bushels to the acre. This increase, together with an increase in weight, will give not less than 10 per cent. more bushels than any previous year. A New shaft. VIRGINIA, Nev., Aug. 22.-It has been determined tosinka newcambination shaft for the Gould and Curry and Best and Belcher mines. Work was begun to-day on R street, south of Washington, 220 feet east of the G & C works.