Hibernia Savings & Loan Society (San Francisco, CA)

Episode Information

Episode UID
5461730590850
Episode Type
Run Only
Bank Type
savings
Bank ID
546173059 hash
Start Date
October 6, 1870
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
091fb46e00159fa6

Response Measures

None

Events (1)
1. October 6, 1870 Run
Cause
Bank Specific Adverse Info
Cause Details
Foreclosure of mortgage on Eugene McCarthy and his public denunciation of the concern ('declared that the concern was as rotten'), which sparked withdrawals.
Measures
Officers stated they had abundant coin and large reserve funds and could meet demands; calling in loans if crowded.
Newspaper Excerpt
A sharp run on the Hibernia Bank to-day.
Source
newspapers

Newspaper Articles (10)
1. October 6, 1870 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 6, 1870

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Article Text

SECOND DISPATCH A RUN ON THE HIBERNIA BANK-BOUND OVER FOR ENTERING HOTELS WITH INTENT TO STEAL. SAN FRANCISCO, October 6-3 P. M.Theme is a sharp run on the Hibernia Bank to-day. A more causeless and stupid run probably never was made in the United States. It appears that the Bank had loaned a considerable sum to Eugene McCarthy, who did not pay up his interest promptly, and the Bank was forced to foreclose the mortgage. McCarty made a speech in which he declared that the concern was as rotten as Mooney's. Thereupon a run was started. The Bank has been admirably managed, has an immense reserve fund. and in any event can only be crowded to the extent of calling in its loans. Aportion of the officers state that they have abundant coin to meet all demands, and have not the slightest anxiety concerning the result of the run. Ed Bowen, allas Dr. Bowen, and George Thomas Martin, alias George, who were sent up yesterday for entering the Occidental Hotel with intent to steal, were again sent up to-day for entering the Lick House.

2. October 7, 1870 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 7, 1870

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SAN FRANCISCO, October 7-1 P. M.Gold, at 11 A. M., 1131/6. adidas Greenbacks are selling at 89. The excitement at the Hibernia Savings Bank is manifestly on the decline. The run is confined wholly to servant girls and laboring men, who have small amounts in bank. None of the larger depositors are drawing out a dollar. The crowd this morning numbered about 50 women and 150 men. The Pacific Coast Wrecking Co., for the purpose of carrying on the business of wreckers, buying and selling wrecked vessels, was incorporated yesterday. H. B. Platt, Donald Beadle and S. P. Taylor are the Trustees. The Legal Tender, another of the Ochtsk fishing fleet, has arrived with 125,000 codfish, making 590,000 within three days. Nothing as yet has been heard from the Moses Taylor, overdue from Honolulu. Thermometer, at 11 A. M., 83. The steamer Continental, from Mazatlan, is due to-day.

3. October 7, 1870 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 7, 1870

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Article Text

FROM SAN FRANCISCO GOLD-GREANBACKS - THE RUN ON THE HIRERNIA BANK-A WRECKING COM. PANY INCORPORATEDMORE CODFISH ARRIVEDTHE MOSES TAYLOR-THE WEATHER-VESNEL DUE.

4. October 7, 1870 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 7, 1870

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Article Text

SAN FRANCISCO, October 7-3 P.M.Mooney wrote back, after his flight, that the Directors would find in the vault $22,000 six per cent. U. S. bonds, and $14,000 Oakland 10 per cents. No such bonds can be found, and the Directors have been summoned to appear before the Register in Bankruptcy, on Monday, to testify in the matter. Ah Sam, convicted of the forgery of Bank of India notes, in the Municipal Court. yesterday, will". be sentenced to-morrow. His partner, Ah Tuck, is sick in the hospital and not likely to recover. The Moses Taylor arrived this morning from Honolulu, 11 days on the trip. She was detained awaiting the arrival of the Australian steamer. She has only 23 passengers from Honolulu, and 55 from Australia, most of whom go East Overland. The run on the Hibernia Bank is dying out already. The weather is delightful.

5. October 7, 1870 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, October 7, 1870

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CALIFORNIA. VARIOUS MATTERS. SAN FRANCISCO, Oct. 6.-Another arrival from Ochostk of the codfish fleet brings 100,000 fish and reports the catch of the remaining vessels to be immense. Late Arizona advices state that a band of friendly Pineo Indians attacked a party of Apaches near Arizona City and killed thirteen of them. Gov. Safford, while scouting on the White Stone mountains discovered the charred remains of two white men who had perished at the stake. An old Indian chief of the Arizona tribe has sued tor peace. FINANCIAL PANIC. The run on the Hibernian banks and Loan Society to-day caused much excitement among its depositors. The officers of the society assert their ability to meet any demand. The Society is the largest of any kind in the city. The July statement shows cash on hand $715,000, and the total loans cover $120,000. THE BUSINESS OF SAN FRANCISCO. The review of the commerce of San Francisco for the past nine months shows the following: Foreign imports exclusive of duties and freight charges, $12,000,000; free goods, 8,515,000. The demand for gold for duties amount to $6,180.000. The internal revenue receipts in San Francisco were $2 007,000; number of marine arrivals from outside ports 2800, with tonnage of 793.000. The exports amounted to $91,518,000, of which 4,473 000 pounds was wheat, 878,000 flour and 1.473.000 wool. The export of treasure was $26,723,000. The coinage of the mint amounted to $14,839,000. Number of passenger arrivals were 14,800 and departures 26,600. The earnings of the Central Pacific railroad, main line, for September were $833,412, the heaviest trafic since the road opened.

6. October 8, 1870 The Carson Daily Appeal Carson City, NV
Article from The Carson Daily Appeal, October 8, 1870

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THE LATEST TELEGRAMS. We gather the following from last evening's News: Many army officers are availing themselves of the new law of Congress and resigning. The law allows those who resign a year's pay. The following shocking account of the atrocities of the Spaniards in Havana comes by way of New York: An account of the shocking treatment of Cuban ladies by the Spaniards in Havana appears in correspondence from that city. On the 23d ultimo, 20 prisoners, all women and children, reached Havana by railway, and were lead from the depot to prison under guard, all of them, even the children only five and six years old, being tightly pinioned by the arms. At the head of the sad procession marched two handsome young ladies of 18 years, both handcuffed. One is the daughter-in-law of President Cespedes; the other is the daughter of General Figuerro, recently garroted in Santiago. The ladies were all members of the best families on the island. As these unfortunate creatures passed through the streets, a Spanish mob jeered and threatened them, and in instances attempted violence. There is nothing particularly interesting from the European war. The Prussians are perfecting their arrangements for the siege of Paris. Greenbacks in San Francisco are quoted at 89, selling. The run on the Hibernia Savings Bank has pretty much subsided.

7. October 8, 1870 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 8, 1870

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FROM SAN FRANCISCO GOLD-GREENBACKS-A BOAT RACE-ANOTHER MAN MISSING-HIBERNIA BANK-THE WEATHER. SAN FRANCISCO, October S-1 P. M.Gold, at 11 A. M., 113 /. Greenbacks, 8814 ; selling, 883.4. The race between the cutter of the Kearsarge and the barge of the Saranac, three miles for five hundred dollars, is to come off this afternoon, and is attracting much attention, and heavy bets are being made on the result-the odds being given in favor of the Kearsarge. John Gilbert is missing from the Orleans Hotel, since the evening of September 30. He left all his baggage behind, and suicide or foul play is feared. The run on the Hibernia Bank has wholly ceased. No crowd in attendance to-day. The weather is warm and pleasant. .

8. October 8, 1870 Washington Standard Olympia, WA
Article from Washington Standard, October 8, 1870

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LATER FROM THE ATLANTIC STATES. TELEGRAPHIC SPECIAL DISPATCH TO THE STANDARD PORTLAND, Oct. 7. The steamship Oriflamme sailed from San Francisco yesterday for Portland. Messrs. %eiber & Holton open the new Cosmopolitan Hotel, on the European plan, to-morrow. Soundings were made yesterday prepartory to building Railroad bridge to East Portland. Hon. J. S. Smith will soon commence the erection of a large brick on the site of the present American Exchange. SALEM, Oct. 6.-Both Houses attended the funeral of Senator Pershbaker. A bill has passed creating the office of Assistant State Treasurer. Newby, Democrat, is admitted to Yamhill contested seat in the Senate. $200,000 are appropriated to pay the State debts. TOURS, Oct. 5.-Constituent Assembly are to meet here after elected. Arrangements are completed for shelling Paris. Enormous shipments of supplies, arms and powder are being made from England to French ports. LONDON, Oct. S.-Later Hongkong advices give more assassinations in China. Chinese are collecting troops. Adherents of Napoleon in England are very active. All bridges approaching Paris will be blown up on approach of Prussians. Beauregard is not in Europe. LONDON, Oct. 6.-Herald's special says Guarde Mobile are discouraged and have no artillery. Next engagement will be near Rouen. Five hundred houses were destroyed in Strasburg. One of the Anglo cables again injured near Newfoundland. A balloon despatch says the attempted defeat of the Provisional Government proved a failure. Meat is scarce in Paris. SAN FRANCISCO, Oct. -Postal treaty between New Zealand and United States is signed and will commence January 1. Hibernia Bank stood an unprecedented run. The steamship Mosca Taylor, five days overdue from Honolulu, has arrived. WASHINGTON, Oct. 6.-II. C. Price is appointed Superintendent of the Branch Mint at Carson, Nevada. Latest gold quotations, New York, 112%. Greenbacks. San Francisco, 88@@01, in Portland 871@884.

9. October 10, 1870 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 10, 1870

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SECOND DISPATCH SAN FRANCISCO, October 10-3 P. M.Gold at 3 P. M., 1135. There is every indication of rain setting in. The sales of tickets In the Mercantile Library Lottery. are becoming very large within a few days past, and there is hardly a doubt that all will be disposed of before the day of drawing. There are no signs of a resumption of the ran on the Hibernia Bank. The Synod of the Pacific will conclude its labors to-day.

10. October 18, 1870 The Evening Telegraph Philadelphia, PA
Article from The Evening Telegraph, October 18, 1870

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-The Freemasons of Troy have organized an insurance company, with three classes of members, of 1000 each. A fee of $8 has to be paid on entering, and at the death of a member each remaining member of his class pays $1.10 into the treasury, $1 of which goes to the family of the deceased. No other fees or dues are required. -Mr. Storey, of the Chicago Times, has been sued for libel by Mr. Crosby, and others of the Crosby Opera House in that city, An idea may be formed of the damages expected from the fact that counsel have-according to the Chicago Republican-already received $4000 as retaining fees. -The divers who visited the wreck of the United States war ship Housatonic, off Charleston harbor, a short time since, say they found the little torpedo-boat that was commanded by Lieutenant Dixon lying alongside of her, and having on board the skeletons of the eight men who volunteered for the enterprise. -At a meeting of the Cleveland, Ohio, Board of Trade, held last week, resolutions were passed favorable to the early construction of a ship canal, with a capacity equal to the passage of vessels of 1500 tons burden, to connect Lakes Erie and Ontario. Competent engineers estimate the cost of the proposed work at $5,500,000. -The Irish in California sometimes allow themselves to be easily affected by floating rumors. The Hibernia Bank, at San Francisco, was recently subjected to the trying ordeal of a "run," through some foolish rumor of its incapacity to pay 100 cents on the dollar. This makes the third time that it has suffered from a similar inconvenience. -A fashionable individual who had patronized the Boston hotels rather liberally for some time past without troubling himself-about money matters, was discovered to be an accomplished swindler' a few days ago, and taken in charge by the Chief of Police. He was supposed to be a German Count until his trunks were found to contain nothing more valuable than bricks, stones-not precious-and pieces of wrapping-paper.