1043. Columbus Savings & Loan Society (San Francisco, CA)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
May 29, 1900
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
02db3081

Response Measures

None

Description

Newspapers report a run on Columbus Savings & Loan Society in San Francisco on May 28–29, 1900 with over 250 withdrawals. Articles attribute the withdrawals to circulating stories/rumors in the Italian community; no suspension, reopening, or receivership is mentioned.

Events (1)

1. May 29, 1900 Run
Cause
Rumor Or Misinformation
Cause Details
Circulating stories/rumors among the Italian community that the bank was unsafe and that the president would withdraw funds; president denied the statements.
Newspaper Excerpt
There was a run on the bank of the Columbus Savings and Loan society yesterday... over 250 people withdrew their deposits... some people have been circulating stories in the colony that the bank was unsafe
Source
newspapers

Newspaper Articles (2)

Article from Abilene Weekly Reflector, May 31, 1900

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Article Text

A Run on a Bank. San Francisco, May 29.-There was a run on the bank of the Columbus Savings and Loan society yesterday. For some time depositors have been taking out money, but yesterday over 250 people withdrew their deposits from the institution. J. F. Fugazi, president of the bank, when asked what was the cause of the run, said: "The bank is just as sound now as it ever was and there is no cause for the run. Our depositors are mostly Italians, and of late some people have been circulating stories in the colony that the bank was unsafe and that I was going to withdraw. There is no truth in the statement."


Article from The Cape Girardeau Democrat, June 2, 1900

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Article Text

# LATE NEWS ITEMS. In the senate, on the 23th, Mr. Wellington (Md.) referring to a secret understanding existing between the United States and Great Britain, Mr. Lodge (Mass.) challenged him to the proof. Mr. Wellington said he believed the proof could be found in the secret archives of the state department. Mr. Lodge replied that the secretary of state had emphatically denied that such an agreement existed, and the country believed his statement. The reading of the sundry civil appropriation bill was completed, but not all of the committee's amendments were disposed of. The proposition to continue the life of the industrial commission until October 31, 1901, was, after debate, agreed to.... In the house the Alaskan government bill was passed, and some odds and ends of legislation were cleaned up. There was a run on the bank of the Columbus Savings and Loan Society of San Francisco on the 28th. For some time depositors had been taking out money, but on the date named over two hundred and fifty persons withdrew their deposits from the institution. The Portuguese government has informed the committee representing the parties to the Delagoa Bay railway arbitration award that the minister of finance is ready to pay and desires to know where the money will be received. A rumor was current in the lobbies of the house of parliament, on the 28th, which was said to have originated at the Carlton club, that the marquis of Salisbury will retire from politics at the next general election. The Santa Fe Railroad Co. announced, on the 28th, that its first San Francisco-Chicago train would start July 1. Three limited trains between Chicago and San Francisco will be operated weekly. Count Goluchowski, the Austro-Hungarian minister of foreign affairs, in a speech in Buda-Pesth, on the 28th, said: "The driebund is to-day what it was 20 years ago—a peace alliance par excellence." Prof. L. Tobin, who founded colleges at Vinton, Waterloo, Iowa Falls and Fort Dodge, Ia., died, on the 27th, at the last named place. He had a wide reputation and acquaintance. Sir George Grove, former director of the Royal College of Music in London, died on the 28th. In the senate, on the 29th, the most important business transacted was the adoption of an amendment to the sundry civil bill appropriating $5,000,000 for the Louisiana Purchase exposition to be held in St. Louis in 1903. A motion to reconsider subsequently offered by Mr. Gallinger (N. H.) was debated without reaching a conclusion. The Teller resolution expressing sympathy for the Boers was sent to the committee on foreign relations, 40 to 26....In the house the senate amendment to the naval appropriation bill was rejected, and a modified proposition giving the secretary of the navy discretion in the matter of purchasing armor plate or the erection of a government plant substituted therefor. The conference report on the post office bill was finally agreed to and the measure, as amended, was passed. The prosecutions growing out of the burning of two Seminole Indians at the stake near the Oklahoma border, about two years ago, come to an end, on the 29th, when Bird Ivanhoe, Samuel Pryor and R. Roper pleaded guilty to the charge of kidnapping the Indians, and were sentenced to three years in the federal penitentiary at Fort Leavenworth, Kas. The imperial troops of China who were sent to disperse the Boxer rebels found themselves hopelessly outnumbered. Several hundreds were killed and two guns and many rifles were captured, after which the most of the remaining troops went over to the rebels. The San Francisco board of health, on the 29th, ordered Chinatown quarantined, and Chief-of-Police Sullivan posted policemen at every point of ingress or egress to prevent anyone not provided with a certificate from entering or leaving that district. At Chang Hsin Tien, China, the position of the missionaries is one of extreme peril, and unless aid is speedily forthcoming, it is feared they will meet the same fate as their unfortunate converts, whom the Boxers are ruthlessly murdering. The United States coast survey steamer Blake, while surveying Culebra, or Paage island, off the coast of Porto Ricc, struck a sunken rock and sustained some damage. She was docked at St. Thomas, D. W. I. All grades of refined sugar were advanced ten cents a hundred pounds on the 29th.