Hibernia Savings & Loan Society (San Francisco, CA)

Episode Information

Episode UID
5461730591122
Episode Type
Run Only
Bank Type
savings
Bank ID
546173059 hash
Start Date
June 24, 1893
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
14fa40f9d205f1aa

Response Measures

None

Description

Bank refused redeposits from those who withdrew during the brief run; no suspension reported.

Events (1)
1. June 24, 1893 Run
Cause
Local Banks
Cause Details
Depositor nervousness sparked by recent collapses of several savings banks (notably in the Italian quarter of New York) and local contagion of withdrawals.
Measures
Paid out some funds and refused to reopen accounts for depositors who had withdrawn during the run.
Newspaper Excerpt
There is also a run on the Hibernia Bank to-day. The situation is quiet.
Source
newspapers

Newspaper Articles (10)
1. June 25, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, June 25, 1893

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Article Text

A CLOUDLESS SKY. The End of the Financial Flurry. THE PACIFIC BANK'S AFFAIRS. The Attorney=General Obtains an Injunction Against the Sheriff, Which Is Very Materially Modified. There was no uneasiness yesterday among bank depositors. Noon is the customary hour for closing bank business on Saturdays. Long before that time the last trace of Friday's feeble flurry hag gone. Idle fears had vanished. and those who had allowed themselves to become frightened the day previous had in many instances sufficiently recovered to proclaim themselves very foolish for engaging in the run and thus losing the interest on their deposits. All was quiet at the Savings Union Bank. The Hibernia paid out a few thousand dollars and refused to reopen accounts with those of its customers who had joined in the stampede on Friday. Examination of the books showed that the great majority of these people were Italians, who are unusually sensitive in regard to banks, owing to the fact that two or three savings banks in the Italian quarter of New York City had recently collapsed. All was quiet at the People's Home Savings Bank. The management announced that the bank would open for business this week and be amply prepared to stand anv kind of a run which the depositors saw fit to make. The Pacific Bank was the center of interest yesterday on account of the contest between Sheriff McDade and the AttorneyGeneral, who represented the Bank Commissioners. During the morning the Bank Commissioners concluded their examination of the books. This week they will overhaul the assets and ascertain how near they agree with the books. The following statement of the condition of the Pacific Bank is that which the Commissioners have now before them:

2. June 25, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, June 25, 1893

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Article Text

Confidence Restored in was Francisco. SAN FRANCISCO, June 24.-There was nothing around any of the banks this morning to indicate any excitement. Small groups of men stood on the sidewalks in front of several savings banks, but there was no attempt at a run on any of them. The San Francisco Savings Union reported a greater amount of de. posits than it had received on any one day for a month or more. A number of persons who had withdrawn their accounts from the Hibernia bank yesterday called at that Institution this morning and wanted to redeposit their money, bus they were informed that their deposits were not desired. R. H. McDonald, jr., stated this morning that the Pacific bank would open again soon. There was nothing out of the ordinary at any of the commercial banks.

3. June 25, 1893 The Herald Los Angeles, CA
Article from The Herald, June 25, 1893

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Article Text

SAN FRANCISCO BANKS. Excitement Subsided-People - Redepositing Their Savings. SAN FRANCISCO, June 24.-*There was nothing around any of the banks of the city this morning to indicate any excitement. Small groups of men stood on the sidewalks in front of several savings banks, but there was no attempt at a run on any of them. The San Francisco Savings union reported a greater amount of deposits than it had received on any one day for a month or more. A number of persons who had withdrawn their accounts from the Hibernia bank yeaterday, called at that institution this morning and wanted to redeposit their money, but they were informed that their deposits were not desired. R. H. McDonald jr. stated this morning that the Pacific bank would open again soon. There is nothing out of the ordinary at any of the commercial banks.

4. June 25, 1893 The Morning News Savannah, GA
Article from The Morning News, June 25, 1893

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Article Text

Runs at San Francisco. San Francisco, Cal., June 24.-The run on the Savings Union bank was continued to-day, though with less excitement than yesterday. There was also a run on the Hibernia bank to-day. The situation is quiet.

5. June 25, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, June 25, 1893

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Article Text

FINANCIAL CIRCLES ARE EASIER One of the Suspended Banks ill Los Augeles Re-opens. QUIETNESS IN 3AN FRANCISCO Comptroller Eekles In Receipt of Several Application s to Allow Banks to Resame Business. Associated Press. Washington, June 24.-Comptroller Eckles this morning received a telegram from the San Bernardino bank asking permission to reopen. He answered he would consider the request when his examiner made his report. Bank Examiner Clare, of Tacoma, has been directed to go to New Whatcom. An application has been received by the comptroller from all the banks in Spokane requesting him to allow the Washington National Bank of Spokane to re-organize. San Francisco, June 24. There was nothing around any of the banks of the city this morning to indicate any excitement. A number of persons who had withdrawn their accounts from the Hibernian Bank yesterday wanted to re-deposit their money today, but they were refused. R. H. McDonald Jr., stated this morning that the Pacific bank would open again soon. Los Angeles, Cal., June 24.-The East Side Bank opened its doors this morning. This is the first of the closed banks to resume. A feeling of confidence has returned, and the other banks will open Monday-that is, all but the City Bank, which is in the hands of a receiver. Fresno, Cal., June 24.-The Loan and Savings Bank of Fresno announced this morning that owing to the failure to secure expected funds, it would not open its doors today. The announcement created no excitement, as it is well known that the assets of the bank are four to one of the liabilities. Chicago, June 24.-The Columbia Launch Company, an excursion steamboat line, recently organized with a capital of $200,000, has gone into the hands of a receiver.

6. June 25, 1893 The Times Richmond, VA
Article from The Times, June 25, 1893

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Article Text

Telegraphic Brevities. WASHINGTON, June 24.-Maurice J. Power has been appointed shipping commissioner at the port of New York, vice James C. Reed, removed. ALBANY, TEX., June 24.-Fire started in A. J. Cente's dry goods store yesterday and destroyed a whole block. The loss is $75,000. Insurance unknown. ROCHESTER, N. Y., June 24.-Two freight trains were wrecked on the Hudson Central railroad by a hind end collision a few miles west of this city early this morning. Seven men were injured. SAN FRANCISCO, CAL., June 24.-The run on the Savings Union Bank continued to-day, though with less excitement than yesterday. There is also a run on the Hibernia Bank to-day. The situation is quiet. YORK, PA., June 24.-The extensive cigar factory of S. S. Cable was gutted by fire this morning. The contents, consisting of cigars and leaf tobacco, were entirely destroyed. The damage will not exceed $2,000; insurance, $32,000. Sheriff Gallatin this morning attached the insurance money to satisfy claims of leaf dealers. PHILADELPHIA, June 24.-Gillinder & Sons, glass manufacturers, of this city, are financially embarrassed, and have made a proposition to their creditors for an extension of time. The assets of the firm amount to $154,301, and the liabilities to $202,438 Stringency in the money market, resulting in inability to collect debts, is given as the cause of the embarrassment. BOSTON, June 24.-Dr. William T. S. Wardwell, thirty-five years of age, of Rock Berry, was shot and almost instantly killed this afternoon at his home by Amos L. Morse. Morse entered the Doctor's house for the probable purpose of robbing, and was discovered by the Doctor, who evidently tried to detain him. Morse then shot the Doctor twice, and he died almost immediately. COLUMBIA, S. C., June 24.-A special to the Register from St. Matthews says: "William Davis, an old negro, was shot and killed here last night about dark by August Jenkins. The two men had a row about a hen which Jenkins' hog had eaten, and after blows Jenkins rushed into his house, seized a gun and fired at Davis, the whole load taking effect in Davis' breast. Davis staggered a few feet and fell dead at Jenkins' door.

7. June 25, 1893 The Herald Los Angeles, CA
Article from The Herald, June 25, 1893

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Article Text

WE NOTICE that the Hibernia Savings bank in San Francisco has refused to reopen deposit accounts with persons who withdrew their money during a elight run which was had on the bank on Wednesday last. This is, of course, possible with an institution like the Hibernia bank, which is one of the strongest savings banks in America. But it would not do as & rule. Indeed, as a rule, it would be hurtful to the general business of a community. The proper policy, and the best policy for all, is to encourage people who have yielded to the spasms of a panic to come back &S soon 28 they can to normal and healthy. conditions. Now let us take, for instance, this city. Many of the depositors in our savings banks who were carried away with the frenzy that passed over our community, rushed headlong to their banks, and when they found that the time rule had been enforced, as was right, they at once filed notice that they intended to withdraw their deposits. Now, it is not probable that a single one out of a hundred of these distraught depositore, having had time to think and to look calmly into the situation, doubts the eolvency of the banks 1 and the perfect security of his money. What these people ought to do, now that the sober second thought has had time to assert itself, would be to with draw their notice and to leave the banks free to carry on their business on nort mal principles. They will see, if they reflect, that their notice of intention to r withdraw actually ties up that amount of money; that the banks have no option e but to provide for its payment. In 80

8. June 25, 1893 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, June 25, 1893

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Article Text

The Bank Troubles. SAN FRANCISCO, Cal., June 24 -The run on the Savings Union Bank continues day, though with less excitement than yesterday. There is also a run on the Hibernia Bank to-day. The situation is quiet. ATLANTA, June 24 -Howard Bank of Cartersville, Ga., the largest town between Atlanta and Chattanooga, suspended payment this morning owing to the withdrawal of funds by depositors and the inability of the bank to realize on its assets, and on account of the general hard times. The bank has posted a notice that depositors will be paid in full as soon as collections can be made. It has heretofore been considered one of the strongest banks in the smaller towns of the State.

9. June 25, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, June 25, 1893

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Article Text

Standing the Storm. (By telegraph to the Dispatch.1 SAN FRANCISCO, CAL., June 24.-The run on the Savings Union Bank continues today, though with less excitement than yesterday. There is also a run on the H1bernia Bank to-day. The situation is quiet.

10. July 6, 1893 The Herald Los Angeles, CA
Article from The Herald, July 6, 1893

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Article Text

THE Hibernia bank of San Francisco has started a new departure. A lot of predestinated women of Irish race and male depositors of Italian origin, started a run on that institution the latter part of week before last. It was but a few days before the half yearly interest was due on deposits. Diligent speculators were around buying pass books, by which they received five per cent interest for six months for about ten days' investment of their money. The besotted people began to see their folly, and started on a rush to .re-deposit. They were somewhat surprised when they were told that they could never again deposit in that bank. On reflection, this decision of the Hibernia bank was good bueiness policy. No bank is strengthened by the possession of such volatile depositors.