1038. Central Trust Company (San Francisco, CA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
trust company
Start Date
April 18, 1906
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
87079a42

Response Measures

None

Description

Articles describe the April 18, 1906 earthquake and subsequent fire that shut banks (vaults inaccessible) and organized 'Bankers' Row' to coordinate limited payments and later reopening. No article describes a depositor run on Central Trust; this is a suspension of operations due to a local shock (earthquake/fire) with plans to resume business.

Events (1)

1. April 18, 1906 Suspension
Cause
Local Shock
Cause Details
Operations were interrupted by the April 18, 1906 earthquake and resulting fire which damaged the city and left banks' vaults inaccessible; coordinated limited payments were arranged and banks planned to reopen together.
Newspaper Excerpt
Reports of the Damage Done by the Earthquake. SAN FRANCISCO, April 26.-News has just been received here of the damage done by the earthquake of April 18 ... Bankers' Row is being organized on La Guna street ... The clearing house ... has been arranged to pay depositors not exceeding $500 ... The bankers are waiting for the opening of their vaults.
Source
newspapers

Newspaper Articles (2)

Article from Evening Star, April 26, 1906

Click image to open full size in new tab

Article Text

IN THE NORTHERN COUNTIES. Reports of the Damage Done by the Earthquake. SAN FRANCISCO, April 26.-News has just been received here of the damage done by the earthquake of April 18 in the northern counties of the state. In Lakeport, Lake county a severe shock was felt at 5:40 a.m. on that date, which did considerable damage. A large portion of the fire wall of the Lakeview Hotel crashed through the porches and brick annex. The two-story brick walls of Masonic Hail, in course of construction, were reduced to ruins. Several other brick blocks were cracked chimneys toppled over throughout the town and show windows of business houses for the full length of Main street were shattered. No one was injured The loss to the Masonic Hall is about $4,000. At Albion. Mendocino county, a heavy shock was felt at 5:26 a.m. on the morning of April 18. The Occidental Hotel is a wreck. All the big saw mills in this region are badly damaged. They will have to shut down for some time. So far as can be learned there were no lives Cost. At Anderson. in Shasta county, the earthquake occurred at 5:30 a.m. Chimneys tumbied down and windows, dishes and furniture of houses were demolished. There are many wide fissures in the- earth. Slides along the Southern Humboidt Lumber Company's rallroad line took place. The damage to the Southern Humboidt number Company's dam across Indian creek, will run into the thousands. Bankers' Row Organized. "Bankers' Row" is being organized on La Guna street, west of Lafayette Square. The Crocker-Woolworth National Bank, the Central Trust Company and the Mercantile Trust Company already have placed their cotton banners on residences overlooking the tented camps of the refugees in the square. This is a bringing together of those that have money (in vaults) and those who need it. The clearing house. representing the commercial banks, held their usual morning meeting yesterday. While the details are not completed, it has been arranged to pay depositors not exceeding $500 on their account. Each of the banks has had or will have considerable sums transferred to its credit by correspondents in London, Paris and New York. These transfers will be made to the mint on 5th street and the money will be available at that point. The form of procedure will be for the depositor to draw a check in the usual form. This will be Indorsed by the cashier or other officer of the bank, and the customer may present is and have it cashed at the mint. Superintendent of the Mint Leach has indicated his willingness to assist in carrying into effect this plan if furnished with a sufficient force of clerks. The bankers are waiting for the opening of their vaults, SQ that they may reach their books and papers. Checks and blanks which are yet to be printed will form necessary parts of the machinery it Is proposed to put into operation. Banks to Open at Same Time. It may be three weeks before the bankers make any of these preliminary payments. The executive committee of the savings banks met yesterday. Much satisfaction was expressed at the fact that all the vaults of these banks had been found to be in excellent condition. The savings banks will all open for business on the same day example. Oakland are payOver the commercial in the banks savings notice. set banks the The ing up to $30 without local savings banks say that it has been deter-


Article from Daily Press, April 27, 1906

Click image to open full size in new tab

Article Text

10,000 ACRES BURNED IN THE FRISCO FIRE Within the Area Destroyed There Were More Than 100 Banks and Other Big Houses. 230,000 PERSONS ARE HOMELESS Many Great Works Though are Left Instact and There are Homes Be. longing to 150.000 Persons Still / Standing-Military Rule Relaxed and Visitors Flock to Ruins. (By Associate di Press.) SAN FRANCISCO. CAL. April 26An engineer states that the area devastated by .fire in San Francisco ap proximates 10,000 acres or about [if teen square miles. There are few cities in the world where so much valuable property is contained in an equal territory. Within this fifteen square miles. were nearly 100 banks. some of the fluest buildings in the world. thousands of mercantile and manufacturing establishments and more than 230.000 inhabitants. besides 40.000 transietants. Notwithstanding the enormous and widespread destruction the homes of 150,000 people are still standing and practically uninjured. Shipyards Not Destroyed. There still remains the great ship yards at the Potrero. the Pacific Mail docks. the stock yards at South San Francisco. the docks and manufac turies along the water front from Mission creek to Hunter's Point. the mint, the postoffice and a large retail district on Fillmore and Devisadero streets. The relief work has made rapid progress. 11 is now in the hands of the military authorities and has been perfected and systemized until the feeding and sheltering of the thous ands of hungry and homeless people is going on expeditiously. Scarcity of Sugar. Five hundred teams are hauling suij plies to the sixty odd relief depots today. There is still a scarcity of SUI gar and coffee and an urgent and pressing need for more blankets. cots. tents. owing to the unusual cold nights for this season of the year which now prevail. With the relaxation of the military law and abolishing of passes than ands of curiosity seekers were attracted from across the bay yesterday and today. hundreds gazed sadly upon the ruins of their homes and dug through the ashes for some treasured memento. Seattle Sends Volunteer Doctors. The steamer Buckman, of the Alaska line. in command of Captain L. B. Wood. arrived here late last night with volunteer physicians. Red Cross nurses. and a cargo of 2,200 tons of provisions and supplies for the homeless people of this city. The vessel made a record run from Seattle, but encountered off Cape Blanco a terrific sea which crew and passengers said was caused by a suba terranean eruption and which for time threatened to engulf the ship. Banks Open For Business. "Bankers' Row" is being organized on La Guna street. west of La Fay elle Square. The Crocker-Woolwort National Bank. the Central Trust Company and the Mercantile Trust Company, already have placed their cotton banners on residences overlooking the tented camps of the refugees in the square