Dime Savings Bank (Chicago, IL)

Episode Information

Episode UID
6626048291122
Episode Type
Run Only
Bank Type
savings
Bank ID
662604829 hash
Start Date
June 6, 1893
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
94c8402b6f5bfb90

Response Measures

None

Description

Multiple articles state the bank invoked the 60-day rule and paid a percentage; no suspension or closure reported.

Events (1)
1. June 6, 1893 Run
Cause
Rumor Or Misinformation
Cause Details
Sensational and malicious rumors circulated by Board of Trade brokers triggered widespread runs on Chicago savings banks, including the Dime Savings Bank.
Measures
Invoked 60-day notice rule and paid only a percentage of deposits; maintained operations and paid out as possible.
Newspaper Excerpt
The Dime Savings Bank took advantage of the rule requiring, if necessary, sixty days' notice of withdrawal and paid only a percentage of deposits to-day.
Source
newspapers

Newspaper Articles (17)
1. June 6, 1893 The Record-Union Sacramento, CA
Article from The Record-Union, June 6, 1893

Click image to open full size in new tab

Article Text

ANXIOUS DEPOSITORS. CHICAGO BANKERS ARE HAVING TROUBLOUS TIMES. Board of Trade Brokers Trying to Precipitate a Panie-Unusual Banking Hours. Special to the RECORD-UNION. CHICAGO, June 6.-3 A. M.-The failure of Hermann Schaffner & Co.'s Bank, which occurred last week, bore fruit yesterday in well defined runs which were precipitated on almost, if not every one of the savings banks of Chicago. First to feel the effect of the excitement was the Bank of Commerce, where a great many of the accounts. The class keep Jewish their citizens Schaffner poorer failure had alarmed them and they bore down upon the Commerce at the opening hour. Tellers were doubled up and paid checks as fast as presented throughout the day, the officials of the bank expressing no and that they to meet would alarm be whatever, able any saying demands. The Illinois Trust and Savings Bank, which has a larger line of this class of deposits than any other bank in the city, amounting at times to over $12,000,000, put on an and everyone as as extra rapidly force of tellers possible. paid At o'clock this afternoon they posted a notice on the front door that the bank would remain open until 10 o'clock to-night, and as long as the present excitement continued. The Hibernian Bank, which, as its name implies, was the depository for a large number of Irish-Americans of small means, was crowded all day, but found no difficulty meeting all demands. The Dime Savings Bank took advantage of the rule requiring, if necessary, sixty days' notice of withdrawal and paid only a percentage of deposits to-day. The Globe Savings Bank applied the thirty-day rule. The Milwaukee=avenue Savings Bank sustained a moderate run throughout the day, and they, too, kept open 9 o'clock was noted Equally housa spirited until checking to-night. upon the Price, State National and rie as well as State Savings Banks, Prai- upon the Union Trust Company and the Avenue Savings Bank, but in no case was any alarm felt by well-informed people. In many these fact, at of institutions large depositors came in during the afternoon and made heavy deposits. To-day's situation was greatly aggravated by a number of Board of Trade brokers, who for reasons of their own devoted themselves to the circulation of sensational rumors in which they involved at one time or another nearly every bank in the city and a large number of leading stock yards operators. Notwithstanding these malicious efforts no fear is felt as to the safety of any of the leading banking institutions of the city. The failure of Meadowcroft Brothers, a total of minor institution, with deposits perhaps $200,000, aroused little or no interest. At midnight the Illinois Trust and Savings Bank was still paying off, and the crowd of depositors anxious to draw was as large as money bank still ever. The officials are rather pleased than pay out the it otherwise to money, as means a big saving to the institution in interest. So far the net profit is about $35,000. At this hour it was announced that the bank would not close as long as a single depositor cared to draw out a dollar. The paying of money is being continued at seven windows. President Mitchell said: "We will right months and not here for three close stay our doors night or day if such a proceeding should become necessary. We are good for any run no matter how long it keeps up." " At 1:30 A. M. the Illinois Trust and Savings Bank was still open, the force of paying-tellers at seven windows having been relieved by fresh men and enough people are still waiting for money to keep the bank open two hours more. President Mitchell said he had plenty money on hand and plenty of men to pay it out.

2. June 6, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, June 6, 1893

Click image to open full size in new tab

Article Text

GOT THEIR MONEY BACK Chicago Depositors Become Alarmed About Their Savings. ALL WERE PAID IN FULL Scenes of Excitement In All of the Banks in the Windy Citysmall Failures-Ohio and Kansas City. CHICAGO. June 5.-The failure of Herrmann Schaffner & Co.'s bank. which occurred last wook. bore fruit to-day in well defined runs which were precipitated on almost. if not every one. of the savings banks of Chicago. The first to feel the effect of the excitement was the Bank of Commerce, where a great many Jewish citizens of the poorer class keep their accounts. The Schaffuer failure had alarmed them and they hore down upon the Bank of Commerce at the opening hour. The tellers were doubled up and paid the checks as fast as they were presented throughout the day. the officials of the bank expressing no alarm whatever and saying that they were able to meet any domands. The Illinois Trust & Savings bank. which has a larger line of this class of deposits than any other bank in the city, amounting at times to over $12,000,000. put on an extra force of tellers and paid every one as rapidly as possible. At 3 o'clock this afternoon they posted a notice on the front door that the bank would remain open until 10 o'clock to-night and so long as the present excitement continues. The Hibernian bank. which, as its name implies, was the depository for a large number of Irish-Americans of small means. was crowded all day, but found no difficulty in meeting all demands. The Dime Savings bank took advantage of a rule requiring, if necessary. 60 days notice of withdrawal. and paid only a percentage of Its deposits to-day. The Globe Savings bank applied a 30-day rule. The Milwankee Avenue Savings bank sustained a moderate run throughout the day and they, too. kept open house until 9 o'clock to-night. Equally spirited checking was noted upon the Prairie State National and the Prairie State Savings banks, as well as upon the Union Trust company, but in no case was alarm felt by well informed people. In fact. at many of these institutions, large depositors came in during the afternoon and made heavy deposits. To-day the situation was greatly aggravated by a number of board of trade brokere who. for reasons of their own. devoted themselves to the circulation of sensational rumors in which they involved at one time or another. nearly every bank in the city and a large number of leading stock yards apliators. Notwithstanding these malicious efforts, no fear is felt as to the safety of any of the leading banking institutions of the city. The failure of Meadowcroft Brothers, a minor instituwith total deposits of perhaps $200,000. aroused little or no interest.

3. June 6, 1893 The Herald Los Angeles, CA
Article from The Herald, June 6, 1893

Click image to open full size in new tab

Article Text

The Failure of Schaffner & Co. Bearing Fruit. Runs on Every Savings Bank in Chicago. Meadowcroft Bros. Unable to Stand the Pressure. All the Rest Pulled Through-A Long List of Financial Disasters Due to Stringency in Money. By the Associated Press. Chicago, June 5.-The failure of Schaffner & Co's. bank, which last bore in occurred Herrman week, fruit today runs which were if not every one tated well defined on almost, precipi- first of the eavings banks of Chicago. The to feel the effect of the excitement was the Bank of Commerce, where a great many Jewish citizens of the poorer class keep their accounts. The Schaffner failure had alarmed them and they bore down Commerce at the opening honr. were doubled up on The the tellers and paid checks as fast as presented throughout the officials of the day, the and bank saying expressing no alarm whatever they were able to meet any demanda. The Illinois Trust and Savings bank, which has a larger line of this class of deposits than any other bank in the city, amounting at times to over $12,000,000, put on an extra force of tellers and paid every one as rapidly as possible. At 3 o'clock this afternoon they posted a notice on the front door that the bank would remain open until 10 o'clock tonight and 80 long as the present excitement continues. Hibernian bank, which as the name was the of a The implies Irish-Americans depositary for large number of small means, was crowded all day, but found no difficulty in meeting all demands. The Dime Savings bank took advanthe rule requiring, if necessary, 60 notice of tage days' of withdrawal, deposits and today. paid only a percentage of its The Globe Savings bank applied the 30-day rule. The Milwaukee Avenue Savings bank a moderate run sustained throughout house the day, and they, too, kept open until 9 o' clock spirited checking was Equally tonight. noted Praithe State National rie as well as upon State Savings, Price, theAvenue upon and the Union Trust company and but in no case was felt well-informed people. Savings by bank, In alarm fact, of these institutions came in during at positors many the afternoon large deand made heavy deposite. situation was aggraa number of vated Today's by board greatly their of trade who for reasons own to the devoted brokers, themselves which circulation of they in- of sensational rumore in one time or bank in the city a every volved at and another large operators. nearly number leading stockyards these Notwithstanding of malicious safety of efforts, no fear is felt as to the any of the leading banking institutions of this city. The failure of Meadowcroft Brothers, a minor institution, with total deposits of perhaps $200,000, aroused little or no interest. At midnight the Illinois Trust & bank was still the of depositors Savings crowd paying anxious off The and to draw is still as large as ever. are rather as it means a to otherwise bank money officials pleased big So saving far than the the in interest. 18 about $35,000. At that the saving institution announced bank this hour would it not 80 as a draw out a dollar. cared was close to long single continued The depositor paying at of the money is being seven windows. President Mitchell said: 'We shall stay right here for three months and not close our doors night or day if such proceedings should become necessary, We are good for any run, no matter how long it is krept up. a. m. the Illinois Trust and bank is still open, the tellers at seven windows Savings paying At 1:30 force having of by fresh men, and enough are still waiting the bank open two been keep people relieved hours for money more. to Mitchell said was on hand and to of President money plenty there of men plenty pay it out.

4. June 6, 1893 The Providence News Providence, RI
Article from The Providence News, June 6, 1893

Click image to open full size in new tab

Article Text

A Run on a Savings Bank. CHICAGO, June 6.-A run started on the Dime Savings bank at 104 Washington street yesterday. This institution has deposits aggregating $600,000. The bank has a capital stock of $100,000 and R surplus of $50,000.

5. June 6, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, June 6, 1893

Click image to open full size in new tab

Article Text

AFRAID OF BANKS. Poor People Draw Out Their Savings. MONEY READY ON DEMAND. Chicago Savings Institutions May Be Shaky, but They Certainly Show No Sign of It. Special to THE MORNING CALL June 5.-The failure of HerrCHICAGO, bank, which mann, Schaffner & Co.'s OCcurred bore fruit to-day in welldefined which were ou almost if not one of last runs week, every precipitated the savings banks of The first effect excitement was of the Chicago. the to Bank feel Jewish the of Commerce, where a great many class acThe Schaffner very counts. citizens of the poorer failure keep bore had their down much alarmed them, and they Bank of Commerce at openupon hour. the The doubled the ing tellers were up and fast as presented throughout the officials of the exno alarm pressing the paid day, checks whatever, and demands. bank saying that they were able to meet any The Illinois Trust and Savings Bank, which has a larger line of this class of deposits than any other bank in the city, amounting at times to over $12,000,000, put on an extra force of tellers and paid every one as rapidly as possible. At 3 o'clock this afternoon they posted a notice on the the bank until 10 o'clock night so as the present front open door long that to-night would excitement and remain every continued. The Hibernian Bank which, as its name implies, is the depository for a large number of Irish-Americans of small means, was crowded all day, but found no difficulty in meeting all demands. The Dime Savings Bank took advantage of the rule requiring, if necessary, sixty days' notice of withdrawal, and paid only a percentage of deposits to-day, and the Globe Savings Bank applied the thirty-day rule also. The Milwaukee-avenue Savings Bank sustained a moderate run throughout the day, and it, too. kept open house until 9 o'clock to-night. Equally spirited checking was noted the Price State State as well as upon upon Savings, National and the Savings Pacific Union Trust Company and the Avenue Bank, but ia no case was any alarm felt by well-informed people. In fact, at many of these institutions large depositors came in during the afternoun and made heavy deposits. situation was greatly aggravated a number of To-day's by Board of Trade defor reasons of their own, voted to the sensational in which they brokers, themselves rumors, who, circulation involved of at or another every in and a large o erators as stockyard the one city time number nearly well. of Notwith- leading bank standing these malicious efforts no fear is felt as to the safety of any of the leading banking institutions of the city, and the failure of Meadowcroft Bros, a minor institution with total deposits of perhaps $200,000, aroused little or no interest. Attorneys for the bank place the liabilities at $250,000, assets at $470,000. The latter consist chiefly of commercial paper which is not now readily convertible into cash. in court a was for the bank, on a appointed On application receiver petition of member of the firm. The bill gives as a cause of failure inability to reorganize the bank after the death of one of the brothers last February. The bank was established in 1860 by the father of the members of the present firm. Schaffner of lief To-day's that Herman developments confirm the the failed bebank of Herman Schaffner & Co. drowned himself in the lake. The police are dragging for the body. CHICAGO, June 6.-At midnight the Illinois Trust and Savings Bank was still off, and the crowd of depositors to draw their money was as ever. The were large paying anxious as otherwise bank officials to still out rather than pay as it meanta big to money, in pleased saving the profit institution interest. So-far the net is about At this anthe bank would not so nounced $35,000. that hour cared it was to close draw long as a single depositor out a dollar. The paying of money is being continued at seven windows. "We wills stay right here for three months and not close our doors night or day if such a proceeding should become necessary. We are good for any run, no matter how long it keeps up." At 1:30 A. M. the Illinois Trust and Savings Bank was still open, the force of tellers at the seven windows having by fresh men, were still been paving people relieved waiting for hours and money enough more. to the bank open two Mitchell said there was on hand and plenty men keep President money of plenty to pay of it out.

6. June 6, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, June 6, 1893

Click image to open full size in new tab

Article Text

TELEGRAPHIC. CHICAGO BANKS. Result of the Failure of Hermann Schaffner & Co. Last Week. SMALL DEPOSITORS ALARMED. Sensational Rumors by Board of Trade Brokers.-Plenty of Money in the City. CHICAGO, June 5.-The failure of Hermann Schaffner & Co.'s bank, which occurred last week, bore fruit today in well-defined runs which were precipitated on almost if not every one of the savings bankain Chicago. The first to feel the effect was the Bank of Commerce, where a great many Jewish citizens of the poorer class keep their accounts, and they bore down upon the bank at the opening hour. The tellers were doubled up and paid checks as fast as presented throughout the day. The Illinois Trust & Savings Bank, which has a larger line of this class of depositsthan any other bank in the city, amounting at times to over $12,. 000,000, put on an extra force of tellers and paid every one as rapidly as possible. The Hibernian Bank, which as the name implies, was a depositor for a large number of Irish-Americans of email means, was crowded all day, but found no difficulty in meeting all demands. The Dime Savings Bank took advantage of the rule requiring, if necessary, sixty days notice of withdrawal, and paid only a percentage of deposits today. The Globe Savings Bank applied the thirty day rule. The Milwaukee Avenue Savings Bank sustained a moderate run throughout the day and they, too, kept open house tonight. Equally spirited checking was noted upon the Prairie State National and Prairie State Savings, as well as upon Union Trust company and the Avenue Savings Bank, but in no case WAS any alarm felt by well-informed people. The situation was greatly aggravaled by a number of board of trade brokers, who for reasons of their ow n devoted themselves to the circulation of sensational rumors, in which they involved at one time or another nearly every bank in tue city and a large number of leading stock yard operators. For the first time in some months the Chicago sub-treasury has been drawn on to assist the depleted gold reserve in the East. Today one million In gold was shipped by express. There are still seven millions in gold here, and the amount is continually belog increased by Chicago banks depositing gold for currency.

7. June 6, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, June 6, 1893

Click image to open full size in new tab

Article Text

RUNS ON CHICAGO BANKS. Every One of the Savings Banks Crowded with Depositors. DEMANDS MET PROMPTLY. Malicious Rumors Started by Several Board of Trade Men. These Stories, Which Were Very Sensational, Aggravated the Situation Very Much as They Involved Every Bank in the City. CHICAGO, June 5.-The failure of HerMann Schafiner & Co.'s bank, which occurred last week, bore fruit today in well defined runs, which were precipitated on almost If not every one of the savings banks of Chicago. The first to feel the effect of the excitement was the Bank of Commerce, where a great many Jewish citizens of the poorer class keep their accounts. The Schaffner failure had alarmed them, and they bore down upon the Bank of Commerce. At the opening hour the tellors were doubled up and paid checks as fast as presented throughout the day, officials of the bank expressing no alarm whatever, and saying that they were able to meet any demands. The Illinois Trust and Savings bank which has a larger line of this class of deposits than any other bank in this city, amounting at times to over $12,000,000, pution an extra force of tellers and paid every one as fast as possible. At 3 o'clock this afternoon they posted a nothe front door that the bank until 10 would tice on remain open o'clock excite- tonight and so long as the present ment continues. At midnight the Illinois Trust and bank was still paying off, and the of Savings crowd depositors anxious to draw their money was still. as large as ever. The bank officials were rather pleased than otherwise to pay out money, as it means a great saving to the institution in interest. So far the net profit is 35,000. At this hour it was announced that the bank would not close as long as a single depositor cared to draw out a dollar. The paying of money is being continued at seven windows. President Mitchell said: "We will stay right here for three months and not close our doors night or day, if such proWe ceeding should become necessary, are good for any run, no matter how long it keeps up." At 1:30 this Tuesday morning, the Illinois Trust and Savings bank is still open, the force of paying tellers at the seven windows having been relieved by fresh men and enough people are still waiting for their money to keep the bank open two hours more. The Hibernian bank which its name implies, was the depositor for a large number of Irish Americans of small means was crowded all day, but found no difficulty in meeting all demands. The Dime savings bank took advantage of the rule requiring, if necessary, sixty days notice of withdrawal, and paid only a percentage of deposits today. The Globe savings bank applied the thirty day rule. The Milwaukee Avenue savings bank sustained a moderate run throughout the day and they, too, kept an open house until 9 o'clock tonight. Equally spirited checking was noted upon the Prairie State National and the Prairie State savings, as well as upon the Union Trust company and Avenue Savings bank, but in no case was any alarm at felt by well informed people. In fact, many of these institutions large depositors came in during the afternoon and made heavy deposits. Today the situation was greatly aggravated by a number of board of trade brokers, who for reasons of their own, devoted themselves to the circulation of sensational rumors in which they involved at one time or another nearly every bank in this city and a large number of stock yard operotors. Notwithstanding these malicious efforts, no fear is felt as to the safety of any of the banking institutions of the city. The failure of Meadow-Croft Brothers, a minor inwith total perhaps stitution little deposits interest. of, $200,000, aroused or no

8. June 7, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, June 7, 1893

Click image to open full size in new tab

Article Text

THE PANIC SUBSIDING. Confidence Partly Restored Among Chicago's Saving Banks Depositors. Special to the Indianapolis Journal. CHICAGO, June. 6.-To-day's developments in the financial situation showed an increased steadiness among the monetary instructions of Chicago. True, the people continued to walk up to the wickets of the paying tellers to demand their deposits, but the numbers were reduced and a more widespread feeling of confidence assumed the place of the panicky outburst of yesterday. Those banks upon which the run was continued to-day were the Illinois Trust and Savings. the Hibernian, the Union Trust and Savings, the Globe Savings, the Dime Savings and the Bank of Commerce. Those that demanded the lawful notice of withdrawal of deposits were the Union Trust and Savings, the Dime Savings and the Globe Saving. At the Illinois Trust and Savings Bank last night the last depositor in the line got his money at 3 A. M. then the bank closed until 10 o'clock this morning. The assets of the bank are placed at $28,114,000. The stockholders are estimated as being worth $150,000,000. The bank has not called in a loan in nine years. L. Z. Leiter, who is one of the beaviest stockholders in the bank, says: "I have real estate enough to pay all these claims, and it 18 at the service of the bank. Every person who has a dollar here may have it on demand. I am able alone to make that assert a good, and two other men are willing 10 do the same thing. Before going to Europe I personally examined the collateral for loans made; it could not be better. I will guarantee every loan the bank has made for a very trifling percentage." " This afternoon it was easy to see the excitement was dying out. Philip Armour was responsible for the allaying of the fears of many of the depositors of the Illinois Trust and Savings, by walking up to the people and saying that he would guarantee their savings. About one hundred took advantage of the millionaire's offer, and some accepted a written guaranty. One woman received $1,800 in gold. The banks closed their day's business at the usual hour, and the directors make the statement that they are prepared to stand the run for an indefinite period, and are satisfied with the condition of affairs as sho wn by to-day's signs of returning confidence. Little more than the usual daily demand for currency in exchange for coin was made at the subtreasury to-day by the local banks. The Clearing House Association discussed the general situation. and gratifying reports were received, indicating that the savings banks were in good shape to meet all requisitions.

9. June 7, 1893 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, June 7, 1893

Click image to open full size in new tab

Article Text

FINANCIAL PANIC. Chicago Banks the Victims of Wild Unfounded Rumors. CHICAGO, June 6.-Wild and unfounded rumors of impending financial disaster caused a senseless run on many of the banks in Chicago. Those chiefly affected were the Prairie State National bank, the State Bank of Commerce, the Hibernian Savings bank, the Dime Savings bank, the Union Trust Company's bank and the Illinois Trust and Savings bank. Under the circumstances it is no small. tribute to the sagicy, soundness and foresight of Chicago bankers to say that all withstood the strain. Where the rumors sprang from is a mystery. It is a mystery how they spread, for wildfire is no quicker in its flight than rumor when she takes a fiing at the banks.

10. June 7, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, June 7, 1893

Click image to open full size in new tab

Article Text

MORE CONFIDENT. Run on the Chicago Savings Banks About Over. CHICAGO, June 6.-Today's developments in the financial situation showed an increased steadiness among the mon etary institutions of Chicago. True, the people continued to walk up tothe wickets of the paying tellers to demand their deposits. but the num bers were reduced and a more widespread feeling of confidence assumed the place of the panicky outburst of yesterday. Those banks upon which the run was continued today were the Illinois Trust and Savings, the Hibernian, the Union Trust and Savings, the Globe Savings. the Dime Savings and the Bank of Commerce. Those that demanded the lawful notice of withdrawal of deposits were the Union Trust and Savings, the Dime Savings and the Globe Savings. This afternoon it was easy to see that the exeitement was dying out. The banks closed their day's business at the usual hour, and the directors make the statement that they are prepared to stand the run for an indefinite period, and are satisfied with the condition of affairs as shown by today's signs of returning confidence.

11. June 8, 1893 The Princeton Union Princeton, MN
Article from The Princeton Union, June 8, 1893

Click image to open full size in new tab

Article Text

WANT THEIR MONEY. Chicago, June 6.-The State Bank of Commerce, having offices on the ground floor of the Woman's Christian Temperance temple, experienced a heavy run yesterday. It started just before noon with the appearance of some thirty or forty depositors. The news spread like wild fire and within half an hour the lobby was filled with an excited crowd of men and women who crushed and pushed in order to get within the glass doors. A run also started on the Dime Savings bank. This institution has deposits aggregating $600,000.

12. June 10, 1893 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, June 10, 1893

Click image to open full size in new tab

Article Text

WANT THEIR MONEY. Chicago, June 6.-The State Bank of Commerce, having offices on the ground floor of the Woman's Christian Temperance temple, experienced a heavy run yesterday. It started just before noon with the appearance of some thirty or forty depositors. The news spread like wild fire and within half an hour the lobby was filled with an excited crowd of men and women who crushed and pushed in order to get within the glass doors. A run also started on the Dime Savings bank. This institution has deposits aggregating $660,000.

13. June 10, 1893 The Kimball Graphic Kimball, SD
Article from The Kimball Graphic, June 10, 1893

Click image to open full size in new tab

Article Text

Run on the Dims Savings. CHICAGO, June 6.-A run was also started on the Dime Savings bank at 104 Washington street in the afternoon. This institution has deposits aggregating $600,000 and among its directors are Colonel Robert C. Clowry, vice president of the Western Union Telegraph company, (and ex-Senator Charles B. Farwell. President Bailey, of the bank, says he has a dollar and a half for evrey dollar deposited, but the greater part of the money is tied up in securities. He does not know how long the bank can stand the run, but expects to pull through today. The bank has a capital stock of $100,000 and a surplus of $50,000. It is also reported that there is a run on the Hibernian bank, one of the largest savings institutions in the country.

14. June 10, 1893 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, June 10, 1893

Click image to open full size in new tab

Article Text

CONFIDENCE RESTORED In the Stability of the Chicago Savings Banks-They are Provided with Plenty of Money to Withstand the Runs. CHICAGO, June 7.-Yesterday's developments in the financial situation showed an increased steadiness among the monetary institutions of Chicago. True, the people continued to walk up to the wickets of the paying tellers to demand their deposits, but the numbers were reduced and a more widespread feeling of confidence assumed the place of panicky outburst of Monday. Those banks upon which the run was continued yesterday, were the Illinois Trust and Savings, the Hibernian, the Union Trust and Savings, the Globe Savings. the Dime Savings and the Bank of Commerce. Those that demanded the lawful notice of withdrawal of deposits were the Union Trust and Savings, the Dime Savings and the Globe Savings. Tuesday afternoon it was easy to see that the excitement was dying out. Philip A. Armour was responsible for the allaying of the fears of many of the depositors of the Illinois Trust and Savings by walking up to the line of people and announcing that he would guarantee the payment of their accounts or pay the same. About 100 depositors took advantage of the millionaire packer's offer and some accepted a written guarantee, some given checks and in one case, that of an old woman with a deposit of $100, the amount was paid down in cash. The banks closed their day's business at the usual hour and the directors make the statement that they are prepared to stand the run for an indefinite period and are satisfied with the condition of affairs as shown by the scenes of returning confidence. Little more than the usual daily demand for currency in exchange for coin was made at the sub-treasury by the local banks. The clearing house association discussed the general situation and gratifying reports were received indicating that the savings banks were in good shape to meet all requirements.

15. June 15, 1893 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, June 15, 1893

Click image to open full size in new tab

Article Text

QUIET AT CHICAGO BANKS. A Few Timid Depo itors Still Collect at One or Two Institutions. CHICAGO, June 7.- - The inexplicable flurry among some of the smallsavings depositors has about run its course. At most of'the tbanks at the opening hour things had about resumed their normal, every-day appearance. At one or two savings institutions, where there was still enough of a gathering to be called a crowd, there was no sign of the panicky, unreasoning alarm which beset the depositors Monday. The people were quiet and good-natured and the tellers inside were calmly stacking up the greenbacks ready to meet all demands. At the Dime Savings Bank and the Illinois Trust and Savings Bank the attendance of depositors was scarcely larger than on ordinary business davs. At the Union Trust Company and the Hibernian Bank there were small crowds, although nothing to compare with the number of people there Monday. The Milwaukee Avenue State Bank and the Prairie State Savings and Trust Company's bank on the West Side are experiencing no trouble whatever this morning, the crowds of yesterday having disappeared.

16. June 15, 1893 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, June 15, 1893

Click image to open full size in new tab

Article Text

RUNS ARE ENDED. The Chicago Banks Passed Through the Trying Ordeal Safely. CHICAGO, June S.--Quiet has been fully restored to the small arc of the monetary circle that was disturbed Monday, Tuesday and Wednesday. A great many of the timid savings depositors who rushed to withdraw their cash from the banks under a false impression that a sort of financial 'day 'of judgment had come are now replacing their money in the banks and the only result of their scare is the loss of whatever interest might have accrued on their deposits. At the Pink of Commerce, Globe savings and Dime savings the "run" has ceased entirely. At 10:30 o'clock a m., at the receiving teller's window in the Bank of Commerce, were some twenty persons waiting to deposit money and at the pay. ing teller's desk were two men having checks cashed. At the, Dime savings, depositors are revoking the notices they gave Monday of their intention to withdraw their cash. The "run" continued in a mild way at the Illinois trust, the Union trust and the Hibernian banks. At the Illinois trust all depositors were naid in cash in full of all claims.

17. June 16, 1893 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, June 16, 1893

Click image to open full size in new tab

Article Text

QUIET AT CHICAGO BANKS. A Few Timid Depo itors Still Collect at One or Two Institutions. CHICAGO, June 7. - The inexplicable flurry among some of the smallsavings depositors has about run its course. At most of'the banks at the opening hour things had about resumed their normal, every-day appearance. At one or two savings institutions, where there was still enough of a gathering to be called a crowd, there was no sign of the panicky, unreasoning alarm which beset the depositors Monday. The people were quiet and good-natured and the tellers inside were calmly stacking up the greenbacks ready to meet all demands. At the Dime Savings Bank and the Illinois Trust and Savings Bank the attendance of depositors was scarcely larger than on ordinary business davs. At the Union Trust Company and the Hibernian Bank there were small crowds, although nothing to compare with the number of people there Monday. The Milwaukee Avenue State Bank and the Prairie State Savings and Trust Company's bank on the West Side are experiencing no trouble whatever this morning, the crowds of yesterday having disappeared.