Greenwich Bank (New York, NY)

Episode Information

Episode UID
1001771013
Episode Type
Run Only
Bank Type
state
Bank ID
100177 routing
Routing Number
1-0017
Start Date
May 17, 1884
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b19bfa5224dfd3b5

Response Measures

None

Events (1)
1. May 17, 1884 Run
Cause
Local Banks
Cause Details
Withdrawals were part of wider contagion after other banks' failures/closures (e.g., Newark Bank), prompting depositors to draw funds.
Newspaper Excerpt
The Greenwich bank run also ended to-day.
Source
newspapers

Newspaper Articles (2)
1. May 17, 1884 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, May 17, 1884

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Article Text

STRAIGHTENING UP. The suspended firms are all busy straightening their affairs. Goff & Randle will not have a statement before next week. Dimick & Co, state that they want some time to adjust their accounts Hatch & Foote, Bogart & Co., Hotchkiss & Burnham and J. C. Williams, connot give anything definite as to the state of their affairs. Nelson, Robinson & Co. expect to resume in a short time. RUNNING SMALL BANKS. The run on the Emigrant Industrial Savings bank was abated to-day; $160,000 was paid out yesterday. There was no run today on the Manhattan Savings bank. The Greenwich bank run also ended to-day. There was a run on the German Savings bank to-day, mostly of women. The teller is paying gold. There was a run on the Seamen's Savings bank, but the depositors were paid. The excitement at the several Brooklyn banks has calmed down. There was nothing that could be called a run on any savings bank to-day. The Atlantic State bank of Brooklyn was open to-day, but no business will be transacted till the bank examiners get through.

2. May 17, 1884 New-York Tribune New York, NY
Article from New-York Tribune, May 17, 1884

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Article Text

BOWERY SAVINGS BANK, January 1, 1884. Assets. $150,000 Banking House and Lot Par value. Stock, viz.: 21,143,000 00 United States 422,000 00 State of New York 135,000 00 Ohio 534,000 Connecticut 10,000 00 Rhode Island 389,600 00 Maine 177,600 00 New Hampshire 21,000 00 Kansas 450,000 00 Missouri, 10,000 00 Michigan 233,000 00 Indiana 757,000 00 Massachusetts 50,000 00 Maryland 3,834,500 00 City of New-York 1,775,000 00 Brooklyn 125,000 00 Poughkeepsie 432,000 00 County of Kings 9,103,778 Bonds and Mortgages 1,783,950 00 Loans on Stock (U. S. Bonds as collateral) 674,312 17 Deposit in Banks and Trust Companies 756,475 11 Cash in Vaults $42,970.215 28 40,222,969 The Liabilities to Depositors $2,747,245 73 Surplus OTHER BANKS DECLARE THEIR SOLVENCY. The East River Bank in Chamber-st., the Union Dime Savings Bank and the Greenwich Bank* in Sixth-ave., all had a larger number of persons call upon them to draw money than they do in ordinary times; but there was no excitement at either of them. Everything flowed along in its customary channel, as though Wall-st. wasnot. The close of the Newark Bank had considerable influence in increasing the number of people who stood in line at the Seaman's Bank in Wall-st., but they were met with their money as fast as they appeared and President Macy smiled benignly upon them from his private office. The Citizen's, the Emigrant Industral, the German, the Franklin and the smaller savings banks have really been affected less than their great competitors. There have been runs on them all; but the depositors have been met by so many evidences of solvency that they have been reassured and in many instances have gone away from the bank forgetting all about the resolutions which took them there.