Bank of America - San Francisco, CA

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: June 18, 1932
Location: San Francisco, California (37.780, -122.419)

Metadata

Model: gpt-5-mini
Short Digest: fd9de4eb

Response Measures

Accommodated withdrawals

Description

Article (June 18, 1932) describes depositors gathering and making withdrawals at the Bank of America in San Francisco; withdrawals were promptly paid and officers addressed customers reassuring them. No suspension, closure, or receivership is mentioned, and the bank planned to open normally the next morning.

Events (1)

1. June 18, 1932 Run

Cause: Local Banks
Cause Details: Depositors, alarmed by a local banking disturbance (also involving the American National Bank), gathered and made withdrawals; described as general alarm rather than a specific misinformation event.
Measures: Bank promptly paid withdrawals; officers and president addressed customers in the lobby to reassure them and asked for cooperation; bank to open at 10:00 next morning.
Newspaper Excerpt: gathered around the Bank of America ... scores of depositors, alarmed ... began making withdrawals of their funds, which promptly paid.
Source: newspapers

Newspaper Articles (1)

1. June 18, 1932 The San Bernardino County Sun San Bernardino, CA

Article from The San Bernardino County Sun, June 18, 1932

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Article Text

FINANCE FIRMS SAN FRANCISCO STOCKS Associated Press) SAN June Western stocks came back moderately today after sinking spell in Closing prices were about evenly divided between gains and losses, though the leaders generally lower. Falling grain prices influenced stocks. Gains included Pacific Telephone preferred 3½, Los Angeles Gas ferred Pacific Public Service ferred Joaquin 7s 1%. Occidental Insurance 1½ Railway Equipment, Southern Pacific Golden Gate and Food chinery up fractions. Transamerica recovered from small dip to close at Pacific Gas common dropped 1%, the preferred 6a Pacific Telephone Fireman's Fund Insurance 1%. Pacific Lighting %, and Southern Pacific The curb traders pushed Crown Willamette preferred Virden and Italo preferred Goldman Sachs held along with preferred and Universal OIL San Joaquin appeared the after month's down to new low 51. McBryde sudormant year, off 75c American Telephone 3%, Edison and Cities Service General Motors moved fractionally lower. Following the official list of transFrancisco change Closing price omitted when low and omitted Sales 5% Firemens 4½ Magnavox Pacific Transam (Continued from Page Eleven) gathered around the Bank of America and the American National bank. Later, scores of depositors, alarmed situation, began making withdrawals of their funds, which promptly paid. Wilmot Smith, resident the Bank of America and R. D. McCook. the president the American National bank, personaldirected their forces in meeting the demands the depositors. m., Mr. McCook climbed to the top desk and addressed scores customers in the lobby of bank. "It closing time," Mr. McCook began, "and will close the bank. see in the room many people who have been long time customers this bank. You know well enough know that whatever else may have done have not lied to anyone. saying that American National bank sound and has ample assets take its depositors. You know the officers, the directors and the employes of this bank. don't blame for being uneasy. "But hysteria will close bank particularly everyone tries get his money at same time. banks need the cooperation of their depositors and if there ever time when cooperation needed, now. If we get your cooperation all will be doing business together for many years to come." Crowd Cheers Bank Official Mr. McCook roundly cheered. Last night, Mr. McCook announced that the bank will open promptly at 10 o'clock this morning.