1052. Dime Savings Bank (San Francisco, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
November 25, 1890
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
45a42483

Response Measures

None

Description

Judge Murphy issued a temporary order restraining the Dime Savings Bank from continuing business and appointed A. L. Gutterson receiver (articles dated 1890-11-25). The bank commissioners asked that the charter be revoked and cited violations and unsafe conduct. No mention of a depositor run; action is a court-ordered suspension/receivership suggesting permanent closure.

Events (1)
1. November 25, 1890 Suspension
Cause
Government Action
Cause Details
Court action by state bank commissioners restraining the bank from continuing business; alleged charter violations, unsafe operations, impaired capital, improper loans; receiver appointed.
Newspaper Excerpt
Judge Murphy today issued a temporary order restraining the Dime savings bank from continuing business and appointed A. L. Gutterson receiver.
Source
newspapers

Newspaper Articles (4)
1. November 25, 1890 Evening Capital Journal Salem, OR
Article from Evening Capital Journal, November 25, 1890

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Article Text

FINANCIAL. THE HOP MARKET. PUYALLUP, Wn., Nov. 25.-The following record of sales last week is from the Commerce. It shows the prices being paid: Monday George Rose and Herman Klaber bought the balance of A. Spooner's crop, 68 bales, choice, at 30 cents. Wyckoff & Kennedy sold 35 bales Monday, to George Rose, extra choice, at 31 cents. Saturday Herman Klaber representing the Uhiman's had orders to buy about 300 bales, but the order was countermanded Tuesday morning. At the Puyallup depot Monday a Seattle lawyer slid in a dozen bales of off-color but fair hops, and offered them to the highest bidder. Herman Klaber took them at 15 cents. Tuesday Knox & McGowen bought 70 bales choice from Ed Young at 32 cents, Same day the Puget Sound brewery bought five tons from H. P. Oliver at 32 cents. WALL STREET FAILURE. WALL STREET, Nov. 25.-The suspension of J. C. Waldron has just been announced in the stock exchange. ANOTHER. MEMPHIS, Tenn., Nov. 25.- T. S. Allen & Co., one of the oldest Comm as Factor firms in the South, has tailed. The announcement caused a great sensation. The firm claims to be able to pay dollar for dollar. FAIL FOR A MILLION. NEW YORK, N. Y., Nov. 25.Richard S. Allen & Co., bankers and commission merchants, made an assignment. Liabilities one million. SAVINGS BANK IN TROUBLE. SAN FRANCISCO, Nov. 25.-Judge Murphy to-day issued a temporary order restraining the Dime savings bank from continuing business and appointed A. L. Gutterson receiver. The bank commissioners allege the bank has violated the provisions of its charter and ask that the charter be revoked.

2. November 26, 1890 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 26, 1890

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Article Text

THE CHICAGO BUNKO BANK. Examination of Prettyman's ReceiverHeavy Cotton Failure. CHICAGO, Nov. 25.-Judge Prendergast today overruled a motion to revoke the order spoointing a new assignee for Prettyman's bank in place of Charles Johnson. At meeting of the creditors Johnson made a statement that there was only $1,000 cash in the vault when he closed the bank Saturday night. Assignee Johnson made some damaging admissions during the examination, regarding the interchange of moneys and securities by Prtyman's lumber company and the bank. The examination will be continued tomorrow. NEW York, Nov. 25.-Richard 8. Allen & Co., bankers and commission merchauts at 211 and83 Broad street, have made an assignment. Their liabilities are $1,000,000. The firm is composed of Thomas and Henry Alien, of Memphis, Tenn., and Richard Allen, of New York city. MEMPHIS, Nov. 25.-1homas 8. Allen & Co., one of the oldest cotton factory firms n the South, has failed. The announcement has caused a sensation. The firm claims to be able to pay dollar for dollar. Its liabilities are $750,000, and the assets estimated at $500,000, consisting largely of plantations in the Mississippi valley. Offers of assistance were tendered the firm yesterday by a bank, but were declined. None of the moneyed institutions of Memphis will suffer by the suspension, as they are amply secured. SAN FRANCISCO, Nov. 25.-Judge Murphy today issued a temporary order restraining the Dime Savings bank from continuing business, and appointed A. L Gulerson receiver. The bank commissioners allege that the bank has violated the provisions of its charter and carried on its business in an unsafe manner. There is some $6,000 due depositors. The commissioners ask that the charter be revoked. NEW YORK, Nov. 25.-The suspension of J. C. Waldron was announced on the stock exchange shortly after 11 o'clock. SALEM, N. J., Nov. 25.-Starr & Co., canners, have assigned. Liabilities, $106,000; assets, $40,000.

3. November 26, 1890 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 26, 1890

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Article Text

A Savings Bank in Trouble. SAN FRANCISCO, Nov. 25.-Judge Murphy, today, issued a temporary order restraining the Dime Savings bank from continuing business, and appointed A. L. Gutterson receiver. The bank commissioners allege that the bank has violated the provisions of its charge, and carried on business in an unsafe manner. There are some $6000 due depositors. The commissioners ask that the charter be revoked.

4. November 26, 1890 The Morning Call San Francisco, CA
Article from The Morning Call, November 26, 1890

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Article Text

DIME SAVINGS BANK. It Is Said to Be Conducted in Violation of the Laws. The Bank Commissioners filed a complaint in the Superior Court yesterday to restrain the Dime Savings Bank of this city from continuing business, the suit having been instituted in the name of the people of the State. It is alleged that the Commissioners found the bank guilty of a violation of its charter and the laws of the State; that the business is now being conducted in an unsafe manner; that the paid-up capital, amounting to $1075, has been impaired by the payment of $931 for expenses: that the loans of the bank have been made upon improper securities, and that the officers of the bank are borrowing its funds and have given no security. It is further averred that the Directors of the bank are M. M. Andre, O. E. Moore, William Wilson and C. F. Foster, but that said Foster is not a stockholder; that neither the records of the meetings of Directors nor of the stockholders show the election of a full Board of Directors at any time, and furthermore that there is now due the depositors $6436 40 and the earnings of the bank have not exceeded $19 45. In pursuance of the prayer of the plaintiffs Presiding Judge Murphy of the Superior Court appointed A. L. Gutterson receiver, and he furnished bonds in the sum of $8000, with M. A. Dorn and Joseph Winterburn as sureties.