Harlem Savings Bank (New York, NY)

Episode Information

Episode UID
1019071212
Episode Type
Run Only
Bank Type
savings
Bank ID
101907 routing
Routing Number
1-0190
Start Date
December 12, 1900
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
19065de2821a2031

Response Measures

None

Events (1)
1. December 12, 1900 Run
Cause
Rumor Or Misinformation
Cause Details
Unfounded rumors and hostile remarks by certain persons prompted depositors to withdraw funds; officers and state superintendent declared the bank sound.
Measures
Paid depositors promptly each day, maintained police lines to preserve order; officers announced bank soundness.
Newspaper Excerpt
The run on the Harlem Savings bank ... was continued today. When the bank opened there were 250 men and women in line ... State Superintendent ... said: The Harlem Savings bank is as sound as any bank in the state.
Source
newspapers

Newspaper Articles (10)
1. December 12, 1900 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, December 12, 1900

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Article Text

Run on a Bank. New York, Dec. 12-The run on the Harlem Savings Baok, which started several days ago, continued today. A core of anxious depositors were before doors of the institution before they the opened this morning. At 10 o'clock 250 men ann women lined up before is window. All dethe paying teller ntly. Detectives mands were paid prom, ver who is are at work trying to disco. cause responsible for the rumors which ed the run. The bank's officers say the institution is perfectly sound, and they are at a loss to explain the run,

2. December 13, 1900 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, December 13, 1900

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Article Text

DEPOSITORS EXCITED. Run on the Harlem Savings Bank, New York. NEW YORK, Dec. 12.-The run on the Harlem Savings bank, One Hundred and Twenty-fourth street and Third avenue, was continued today. When the bank opened there were 250 men and women in line, waiting an opportunity to get into the bank to get their money. They were kept in check and all confusion was avoided by the police lines. At 1 o'clock this afternoon the bank was crowded with depositors desirous of drawing their accounts. It was evident that there were as many persons in the bank building as could be paid off up to closing hour, so the doors were closed. All who were in the bank building were paid off. State Superintendent of Banks Frank D. Kilburn arrived at the bank in the afternoon and made an examination of the bank's affairs. Shortly afterwards, he said: "The Harlem Savings bank is as sound as any bank in the state. `Its securities are of the very best." Superintendent Kilburn stated that the bank paid out $25,000 yesterday. He was not certain what amount had been paid out today, but estimated it at about $100,000.

3. December 13, 1900 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, December 13, 1900

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Article Text

Run on the Bank. New York, Dec. 13.-The run on the Harlem savings bank continued today, but the bank met the demands of all depositors.

4. December 13, 1900 The Providence News Providence, RI
Article from The Providence News, December 13, 1900

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Article Text

RUN CONTINUES. President Tooker Says Bank Will Pay Depositors as Fast as They Come. New York, Dec. 13.-The run on the Harlem Savings bank was continued today. Two hours before the time for the bank to open for business there were 350 depositors in line waiting to draw their money. President Tooker of the bank said today: "We have not the slightest intention of taking advantage of the 60 days notice we are allowed by law. "As fast as the depositors come and as fast as we can we will pay today, tomorrow and the next day, or as long as the run continues."

5. December 14, 1900 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, December 14, 1900

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TELEGRAPHIC BREVITIES. Cairo, Ill.-Bishop Charles R. Hale's condition is worse. He is growing weaker. Springfield, Ill.-Judge Charles E. Fuller, former state senator. is a candidate for United States senator. New York-The board of health discovered seven new cases of smallpox near Sixty-ninth street and West End avenue. Columbus, 0.-George-Considine, indicted for robbing the postoffice of Zanesville, O., in 1896, was convicted by a jury in the United States court. St. Joseph-Rev. Father Linnenkimp, pastor of the Church of the Immagula.e Conception, in this city, has had canferred upon him the title of monsignor. Cincinnati-The building, foundry and machinery of the Lane & Bodley works, at John and Water streets, were burned, the total loss being from $200,000 to $250,000. Philadelphia-Negotiations are in progress for the chartering of five tramp steamships which will carry from this port 11,100 tons of steel rails to Norway. Boerne, Tex.-A sani arium for the trea's ment of consumptives by a new liquid air method has just been opened here by the Southern Pacific Railroad company. Washington-The American Institute of Architects began its thirty-fourth annual convention. About Seventy-five we e present; including President Roberts Peabody and Secretary Brown. Chicago-Resolutions of sympathy for Presidents Kruger and Steyn and for the South African republic were unanimously adcpted by the Holland Society, of Chicago. Embossed copies will be sent to Presidents Kruger and Steyn. New York-The run on the Harlem Savings bank was continued. At o'clock. two hours before the time for the bank to open for business, there were 30 depositors in line to draw their money. Zanesville, 0.-Four masked men, discovered in the act of dynamiting the vaults of John Doerschuck's private bank, drove off all who attempted to interfere and got away with between $3,000 and $1,000. Pittsburg, Pa.-The 3,000 employes of the Jones & Laughiin Iron & Steel plants have been notified that the individual wage contracts made two years ago will be renewed for the ensuing year wi h no reduction in pay. Akron,O. The Ohio State Grange, Patrons of Husbandry, adopted resolutions candemning the ship subsidy bill, demanding the passage of ine Grout oleomargar. ine and favoring the extension of the rural free delivery of mails. Jackson, Miss.-The Mississippi Capitol commission let the contract for the new state house to Messrs. Wells & Wells, of Chicago, for $831,000. The contractors agree to commence work Jan. 1, and complete it within twenty-eight months. Gettysburg, Pa.-The woman's relief corps of Iowa have arranged to erect a monument here in nonor of Jenn's Wade, the only woman killed during the monument battle of Gettysburg. The will be erected in the spring and will be dedicated on July 3, 1901. New York-The first anual meeting of the Roentgen society of the United States opened in the Grand Central palace. Besides the members of New York, about 200 delegates were present from other states. New York-The twentieth annual meeting of the National Civil Service Reform league began in this city. Springfield, III-Three more arrests were made today on the Vandalia counterfeiting case. Mrs. Elizabeth Walden was bound over at Effingham and gave bond. She said she had disposed of silver certificates which had been given her by her husband, John Walden. The bills, had been raised from $1 to $10. James White, a boy, Joe Walden and Miss Emma Benning are in jail here.

6. December 14, 1900 The Times Richmond, VA
Article from The Times, December 14, 1900

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Article Text

Instead of a diminution in the run on the Harlem Savings Bank at One Hundred and Twenty-fourth Street and Third Avenue, yesterday, there was an increase over Tuesday in the number of depositors who were anxious to withdraw their money, and with as little apparent reason as on the previous day. It is the general belief in Harlem that the run is due to remarks made by certain persons, whose feelings toward the bank, for personal reasons alone, are not friendly. Not a depositor who applied for his or her money yesterday was turned away, every demand being paid in full up to the close of banking hours. That the bank is sound and will be able to meet all demands made upon it is emphatically asserted by the officers. The sum of $157,675 was withdrawn yesterday. When the bank opened its doors for business, promptly at 10 o'clock, about one hundred persons were standing at the front doors waiting for an opportunity to withdraw their savings. Police Captain Dean, of the East One Hundred and Twenty-s!xth Street Station, sent a roundsman and four policemen to the bank for the purpose of preserving order and keeping the sidewalks clear of idlers, but the policemen found little to do. At noon the crowd had increased to about flour hundred persons, nearly one-half of them being curiosity seekers. Only a few depositors were admitted to the bank at one time. None of the depositors seemed to be able to give a sound reason for his anxlety to have this sivings in his own passession instead of in that of the bank or his authority for doubting the solvency of the bank. Fully two-thirds of the depositors were women. CHURCH OR DANCING CLASS? Miss Edith Marshal, of No. 73 South Twelfth Street, Newark, finds herself obliged to decide between resigning her membership in the De Groot Methodist Episcopal Church or giving up a dancing class for young children which she has been conducting for several weeks. She must decide by the middle of February next. This is a mandate of a committee of the Board of Trustees, consisting of the pastor, the Rev. R. K. Boyd, and Messrs. James and Minnett. With her mother. Mrs. E. L. Marshal, who is the organist of the church, Miss Marshal has for several years been very active in the affairs of the church. She is young, pretty and popular, When, several weeks ago, she started a dancing class for children the youthful element in the church spoke approvingly. but the older element protested, holding that she was not only violating the Book of Discipline herself, but encouraging others to do so. When the pastor and trustees told her that her church membership was jeopardized Miss Marshal said that she had arranged a reception for her little pupils early in February and did not feel that she could abandon it. Mr. Boyd and the trustees than agreed to allow the matter to remain in abeyance until after the reception. with the understanding that Miss Marshal will then give her decision. Miss Marshal's mother stands by her daughter. Miss Marshal declared yesterday that she does not know what decision she will make.

7. December 14, 1900 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, December 14, 1900

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RUN ON HARLEM BANK. Depositors Are Being Paid as Rapidly as Possible. NEW YORK, Dec. 13.-The run on the Harlem Savings bank was continued today. At 8 o'elock, two hours before the time for the bank to open for business, there were 350 depositors in line. The crowd was kept in order by a police squad. President Charles R. Tooker, of the bank, said today: "We will go right on paying just as fast as our force will permit, until 3 o'clock this afternoon. the closing hour for the day. We will pay again tomorrow, and as long as the run continues."

8. December 15, 1900 New-York Tribune New York, NY
Article from New-York Tribune, December 15, 1900

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STILL WITHDRAWING MONEY. HARLEM SAVINGS BANK OFFICIALS SAY THEY ARE GETTING RID OF OBJECTIONABLE DEPOSITORS. The run on the Harlem Savings Bank continued yesterday, and several persons were still clamoring for their money when the doors closed at 3 o'clock. The officials of the bank believe that the run is about ended. It was said yesterday that the Mount Morris Bank had offered $500,000 to use in case of necessity. but there was no need for the money. Three hundred and three accounts were closed yesterday and $110,000 was paid out. Twenty new accounts were received and $4,000 was deposited. The bank officials said that of 35,000 depositors only 1,000 had withdrawn their accounts. They were the most objectionable depositors, and the bank did not care If they never returned. The bank has $600,000 on hand, and the officials say they can raise several millions in an hour if necessary. They thought the run would stop to-day. The run has assumed a comical aspect. The sheepishness of the depositors is laughable. They huddle together and follow blindly, and many do not know why they are withdrawing their money. They say it is because others are doing so. No definite information has been obtained as to why the run started. Mr. Tooker, president of the bank, said yesterday that, at a meeting of the trustees held the night before, a committee of four was appointed to investigate the cause of the run and to determine whether any one was amenable to the law. Mr. Tooker said that those who withdrew would not be blacklisted, but word reached the bank that several depositors who had withdrawn and gone to other banks were not permitted to open accounts. One of the incidents of the run was the robbery of one of the depositors who withdrew his money. The man in question is John Herman, of No. 681 East One-hundred-and-fifty-first-st. His mother had $1,235 in the bank and he had $500. He withdrew both accounts. The $1,235 he placed in one coat pocket and the $500 in another. He then went to the One-hundred-and-twenty-fifth-st station of the Third-ave. elevated road. The money was In this pocket in the station. but as he was stepping on the train he found that the money belonging to his mother was gone. Herman rushed to the East One-hundred-andtwenty-sixth-st. police station and reported his loss. He had no idea what kind of looking person had taken his money. Detectives, however, were placed on the case. Captain Dean. who has charge of the police at the bank. has taken precautions against occurrences of this kind. It is supposed that some one knew of Herman's withdrawal of the money and followed him to the station. The aged mother of Herman went to the bank when she learned of her loss and tearfully told President Tooker of it. He said he could do nothing to help her. She went away sobbing. All persons withdrawing money were warned to look out for pickpockets. At 1:45 p. m. 130 persons were in line waiting to withdraw deposits. They bought coffee, frankfurters and pretzels from neighboring restaurants and ate and drank while standing in line. Seventyfive men and women were admitted at 1:45 o'clock. No more could be paid before the closing hour.

9. December 15, 1900 The Providence News Providence, RI
Article from The Providence News, December 15, 1900

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RUN ON BANK NEARING END. New York, Dec. 15.-There were 54 persons in line this morning at the Harlem Savings bank to withdraw their deposits. This is only a fifth of the number that was in line at the same hour yesterday. The officers of the bank think this will be the last day of the run,

10. December 18, 1900 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, December 18, 1900

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An interesting third chapter has been written about the unwarranted run upon the Harlem Savings Bank. in New York, the other day. A suspicious depositor disregarded the assurances of the directors that the bank was all right, and drew out his savings. amounting to $1,260. On his way to catch an elevated train two burly (cotpads deftly jammed him into a doorway and relieved him of his roll, small change. watch and scart pin. This was in broad deylight. in full view of a street crowded with people, and no arrest was made.