Mechanics Bank (New York, NY)

Episode Information

Episode UID
1035571013
Episode Type
Run Only
Bank Type
state
Bank ID
103557 routing
Routing Number
1-0355
Start Date
May 15, 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
20806e9c8e62976f

Response Measures

None

Events (1)

1. May 15, 1884 Run
Cause
Local Banks
Cause Details
Run occurred amid closures and trouble at other nearby banks (Metropolitan and Atlantic State), prompting withdrawals.
Newspaper Excerpt
At the Mechanics' Bank a small run was made, but President White said that he expected no trouble.
Source
newspapers

Newspaper Articles (2)

Article from New-York Tribune, May 16, 1884

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Article Text

what may be called a private nature. We have no reason to complain of his conduct as regards us." CONFIDENCE IN THE ATLANTIC STATE. Notice was posted on the Atlantic State Bank at No. 49 Fulton-st., Brooklyn, that no business would be done yesterday. At no time in the day were there many depositors at the doors. The clerks were at their desks and replied to questions that it was expected to resume business to-day. Mr. Puffer, the president, said that he ordered the bank to be closed as soon as the doors of the Metropolitan Bank were shut. Mr. Seney had not consulted with the other directors and it would depend on the examination which was going on whether the doors could be opened this morning. An accountant from the office of the State Examiner took charge of the bank at noon, and began to examine the books, vouchers and securities. Cashier Denton said We cannot resume to-day, as the State Examiner is in charge of the books. The best I can say Is that we hope to resume to-morrow. That is all the information I can give. The following notice was posted on the bank doors: NEW-YORK REFINING COMPANY, 141 MAIDEN-LANE, NEW-YORK, May 15, 1884. Checks drawn by us on the Atlantic Bank will be paid on presentation to us at our office, 141 Maiden-lane, NewGEORGE S. RICHARDS, Treasurer. York. The bank had nearly $1,000,000 on deposit when it was shut, divided among 375 depositors. The Bridge Trustees have $190,000 in the bank. Acting President Stranahan, of the Bridge Trustees. said that he had every confidence that the bank would resume and that the Bridge would not lose a cent. He had no anxiety. The Union Ferry Company deposited in the same bank, but the directors refused to state the amount. Yesterday's receipts were deposited in the Brooklyn Bank. The Brooklyn City Railroad Company has between $45,000 and $50,000 in the Atlantic State Bank, but President Hazard said that he had no alarm about its safety. The bank. in his opinion, would certainly resume, and until it did the company would draw checks to meet all demands upon other banks. The other Brooklyn National banks were quiet. The action of the Clearing House Committee in sustaining the banks was regarded as the best indication that the panic was ended and that there would be no more trouble. At the Mechanics' Bank a small run was made, but President White said that he expected no trouble. President Lewis, of the Brooklyn Bank, said that the only effect of the trouble was better interest on loans. New accounts were being opened and depositing was done as usual. The bank was poted for caution and conservatism, but those qualities were good in a crisis. At the Nassau Bank it was said that there was enough money on hand to pay each depositor, but no more was being drawn than usual. All the other National banks were quiet. The president of the Atlantic State Bank said last evening, that the State examiners hoped to get through with the accounts, so as to report this morning, and then the Directors would meet and decide when they would open the doors. He did not believe it would be possible to open at the regalar hour this morning, but the bank would probably resume at some time in the day. He judgedfrom what he learned from the examiners, that they found a very satisfactory state of affairs.


Article from Spirit of the Age, February 8, 1908

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Article Text

CONDENSED NEWS OF THE ENTIRE WEEK FRIDAY, about to take place on N. y January 31, 1908, H. R. R. District Attorney Jerome in his arguEvans' officers and men b ment seeks to turn Thaw defence tained at Punta Arenas. against itself and to bend its testimony Resumptions in wool and to showing a rational motive rather dustries at Providence. than insanity; jury to get the case this Rome, N. ยฅ., has fire whi morning. four buildings in business $ Crew of wrecked brigantine, with Mechanical department of captain's wife and year-old child, resPlain Dealer destroyed by fi cued after five hours' stru by Nar the S tucket life-savers. Februa Fire Commissioner Wells removed by TUESDAY, Mayor Hibbard of Boston and Brig. Mrs. Frances Willers of 1 Gen. Samuel D. Parker appointed to Mass., kills her two little the office. and herself, while under th Chesapeake flag and Balaclava bugle of mental depression. bought for Americans at London curio Portugal seems quiet, b sale. strong hidden current in fa Application made in Maine, Massaolution; Franco resigns. chusetts and New York for receivers Expert named by Presid for the Eastern, Metropolitan and Convelt finds that the cost of 2 solidated steamship companies. printing has greatly increas Urgent deficiency bill carrying $23,Genealogical research re 664,450 passed by the national house. D. Rockefeller as descen William J.ยฐ Bryan speaks before a King Egbert, and shows th house committee in Washington on a American ancestors. bill to compel publicity of campaign 1 Steamer St. Cuthbert fund contributions. Nova Scotia coast; 15 Representative Lovering of Massadrowned; 37 rescued by Cy chusetts puts in bill for a national curBourke Cockran applauds rency commission to be composed of dent's message in debate in 18 members. and admits that it helps Br Toledo judge sentences himself to one the Democrats, year in the workhouse. Mayor McClellan of New withOriental bank of New York toes ordinance forbidding stands run occasioned by the closing smoke in public places, of the New Amsterdam and Mechanics Immigration falling off and Traders banks. Boston. Boston postoffice may be raised from U. S. supreme court, W first class to special class with New sent, holds the Danbury, ( York and Chicago. cott to have been illegal, a New York to issue $50,000,000 of ing to organized labor its bonds. verse within a few weeks. Steel interests may cut prices of proMr. Bryan says delegat duet in general as result of conference. Democratic national convent American battleships reported as be instructed for him or for passing Cape Virgins, at entrance to else, and therefore against straits of Magellan. Banquet to U. S. officer New England well represented in ean cruiser at Punta Arena delegation pleading at Washington for Dr. Allen W. Ferris pr forest reserve. New York lunacy commiss Two men drown in attempting to ines Thaw at Matteawan; Cross Penobscot at Oldtown, Me. lyn Thaw much depresse House committee in Washington visit to husband in asylum. hears arguments in behalf of larger appropriation for moth extermination WEDNESDAY, Februa in New England. Steamship Cymric anchor