Other: Bank also referred to as Nippon Bank of Sacramento in later retrospective note.
Description
Articles (Oct 14–15, 1909) report a multi-day run on the Japanese (Nippon) Bank of Sacramento followed by an order from the State Bank Examiner to close the bank. Closure appears permanent; 1934 retrospective notes the bank was closed after the run exhausted its cash. OCR corrected 'Nippon Bank' referenced in 1934 piece as same institution.
Events (2)
1.October 13, 1909Run
Cause
Bank Specific Adverse Info
Cause Details
Rumors and reports that the bank was in bad shape led depositors to withdraw funds over several days, exhausting cash on hand.
Newspaper Excerpt
Rumors had been abroad for several days that the bank was in bad shape and yesterday there was a mild run on the institution.
Source
newspapers
2.October 14, 1909Suspension
Cause
Government Action
Cause Details
Closed by order of the State Bank Examiner following warnings about the bank's condition and the recent run.
Newspaper Excerpt
The Japanese bank of Sacramento closed its doors at 9 o'clock this morning on orders from State Bank Examiner Alden Anderson.
Source
newspapers
Newspaper Articles (3)
1.October 14, 1909The Tacoma TimesTacoma, WA
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Article Text
JAPANESE BANK CLOSED. SACRAMENTO, Cal., Oct. 14. The Japanese bank of Sacramento closed its doors at 9 o'clock this morning on orders from State Bank Examiner Alden Anderson, who came up from San Francisco last night. Rumors had been abroad for several days that the bank was in bad shape and yesterday there was a mild run on the institution. Mr. Anderson ha dnotified the bank several weeks ago to get Its affairs into better shape and to make a showing in securities, but the bank failed to respond.
2.October 15, 1909The Seattle StarSeattle, WA
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Article Text
Sacramento-The Japanese Bank of Sacramento closed Its doors this morning upon orders from State Bank Examiner Anderson. The bank is in bad shape and yesterday there was a mild run.
3.October 20, 1934The Sacramento UnionSacramento, CA
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Article Text
25 YEARS AGO TODAY
October 1909
The Nippon Bank of Sacramento, Japanese institution, was closed today by the state bank superintendent after run on the bank for the past four days had taken all $30.000 cash which the institution had on hand. The run the rect result of closing last week of the Jap. anese Bank of Sacramento.
Reception for Rev. S. Jones, who arrived yes terday take charge of the First Methodist church here. was prepared by the congregation members. Rev. Jones came from Chico and sue ceeded Rev. C. Todd Clarke.
The outlook for the orange crop in Northern for this good are that 450 carloads will shipped east. Oro. ville and Fair Oaks are the centers of the principal districts.
