1065. German Savings & Loan Society (San Francisco, CA)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
October 12, 1881
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
c4b11f23

Response Measures

Books examined

Description

Multiple contemporary papers (Oct 12–14, 1881) report a small but continuing run on the German Savings & Loan Society triggered by a statement from William Hollis that he was indebted to the bank and the debt was unsecured. Bank officers denied the statement, the bank was examined by commissioners and pronounced solvent, and the bank continued to pay demands in full. No suspension, receivership, or permanent closure is reported.

Events (2)
1. October 12, 1881 Run
Cause
Bank Specific Adverse Info
Cause Details
Statement by William Hollis (an insolvent president of a real estate association) that he owed the bank a large unsecured debt, prompting depositor withdrawals.
Measures
Bank paid all demands in full; officers denied Hollis's statement; Commissioners had recently examined and pronounced the bank solvent.
Newspaper Excerpt
There is a small run on the German Savings Bank owing to a statement made by Wm. Hollis ... that he was indebted to the bank in a considerable amount which was unsecured.
Source
newspapers
2. October 13, 1881 Run
Cause
Bank Specific Adverse Info
Cause Details
Continued withdrawals driven by concerns from Hollis's statement about unsecured indebtedness; callers mainly small depositors/servant-girl class.
Measures
Bank continued to pay demands in full; officers portrayed withdrawals as confined to small depositors and not 'formidable'; by Oct 13 afternoon the run had subsided with only a few awaiting payment.
Newspaper Excerpt
The run on the German Savings Bank continues today ... President Gottig estimates that up to noon about $200,000 will have been drawn out, and ... the amount may reach in the neighborhood of $400,000.
Source
newspapers

Newspaper Articles (10)
1. October 12, 1881 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 12, 1881

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A Run on a Savings Bank. SAN FRANCISCO, October 12.-Today there is a small run on the German Savings Bank owing to a statement made by Wm. Hollis, President of the Real Estate Association, and insolvent, to the effect that be was indebted to the bank in a considerable amount which was unsecured. The Cashier says that the run has been confined to small depositors of the more ignorant and easily excited class; that the bank is paying all demands in full, is in a thoroughly satis. factory condition, and that no run of any consequence is apprehended. The bank was examined by the Commissioners a few weeks ago and prenounced solvent.

2. October 13, 1881 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, October 13, 1881

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SECOND EDITION GENERAL NEWS. The caucus of Republican Senators a yesterday afternoon, decided by large majority to propose the election of Senator Davis, of Illinois, as President pro tempore of the Senate in place of Senator Ba ard. The resolution will probably be intro duced to day, and will go over until to-morrow when the contest will be made. The latest returns from Ohio indi® cate that the Republicans have carried both branches of the Legislature and that Governor Foster's plurality may exceed 15,000. The election in Iowa on Tuesday resulted in a majority of over 50,000 for Sherman, the Republican candidate for Governor, and a Republican majority in the Legislature estimat ed at from 79 to 90. In the Criminal Court at Chicago on Tuesday, Judge Jamieson charged the Grand Jury in regard to gam bling in grain, and said the laws in existence against such operations must be enforced. There was a slight run upon the German Savings Bank in San Francisco yesterday owing to a statement by William Hollis, the insolvent Pre sident of the Real Estate Assoc ation that the bank was not secured on his indebtedness to it. This is denied by the bank's officers. Newton H. McRae, William L. Tindall and J. D. Duffel were arrest ed in Guthrie, Kentucky, on Tuesday for dealing in counterfeit silver coin. All were armed, and made a des~ perate resistance. Heavy rains in the Northwest have caused floods in the Wisconsin and Black rivers. The Wisconsin river flowing over the railroad track at Wausau to a depth of nearly five feet. At Stevens Point the dykes have been ordered to be opened to ayert serious disaster The Black river has risen eight feet in twenty-four hours and is flooding the surrounding country. A fire at Conyers Georgia, vesterday morning destroyed the cotton warebouse of J. A. Stewart and several stores, causing the loss of $20,000. The brig Puna stranded on North Breakers, Florida, on Tuesday night and is go'ng to pieces. Her crew were saved. boat at Newport A pilot yesterday which reports arrived baving 55. seen, in latitude 41, longitude about 300 barrels of kerosene and the yard of a ship. The President said yesterday he would make no ominations until December, except to fill vacanices that have occurred during the recess. It was reported last night that Senator Edmunds would be nominated to the vacant seat in the Supreme Court of the United States. The President yesterday nominated Willam W. Dudiey, of Indiana, to be Commissioner of Pensions; O.P. Clarke, of Rhode Island, and C. B. Walker, of Indiana, Deputy Commissistone.s of Pensions;Noah C. McFarland, of Kansas, Cammissioner of the Land Office; Addison Brown, U. S. District Judge for the Southern District of New York;George M. Durffin,U. S. Attorney for Southern Alabama, and Robert S. Foster, U. S. Marshel for Indiana. The Democratic State Centeral ComS mitlee of Massachusetts yesterday nominated William A. Hodges for S ate Treasurer, in place of Francis J. Parker, declined. The cacus of Democratic Senators yesterday revolved to report an amendment to the Edmunde resolution, which will provide only for the appointment of such committees as the nomination of In the President show to be necessary, and also declare that these committees are to be appointed for the present session only. O The members of the Diplomatic body in Washington will be formally presented to the President to-day by Secretary Blaine. fu Admiral Porter will go to York of town to-day on the U.S steamer Despatch, to arrange for the naval as an portion of the celebration next week The North Carolina States Fair at Raleigh was opened yesterday,Governor Jarvis delivering the opening address. Dr. Josiah Gilbert Holland, the writer and of Monthly," wellknown Scribner's died editor sudden his residence in morning. was vesterday at He New in York the 63d year of his age. Fort Jewish refugees from Russia rrived in Cincinnati yesterday. The Marquis of Lorne at St. Paul Minn., Tuesday night, and after a hort stay left for Chiccago. Justice Harlan of the Supreme Court as succeeded in having two of his sons appointed to cle:kships in the departneuts, one at a salary of $1,200 and the thor $1,600. Fr

3. October 13, 1881 Savannah Morning News Savannah, GA
Article from Savannah Morning News, October 13, 1881

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A Run on a Savings Bank. SAN FRANCISCO, October 12.-There was a small run to -day on the German Savings Bank here, owing to a statement made by Wm. Hollis, the insolvent President of a real estate association, that the bank was not secured on his indebtedness to it, The officers of the bank deny Hollis' statement, and make light of the run, which, they say, is confined to small depositors. The Bank Commissioners reported favorably on the bank two weeks ago.

4. October 13, 1881 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, October 13, 1881

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SPECIAL TO THE SENTINEL. SAN FRANCISCO, Oct. 12. -The - contest made by the Eastern shareholders of the Eureka Con. to change the management seems likely to terminate in favor of the present directory. It is now definitely known. that the old board controls about 40,000 out of the 50,000 shares of stock. The annual election of the company takes place on Monday, the 17th inst. All the old officers will be re-elected. Arrangements have been made to list the stock of the Eureka Tunnel Company on the San Francisco Stock Exchange. Goodshaw has levied an assessment of 15 cents. As the steamers Bay City and New York were passing each other on the bay this afternoon, a skiff containing two men, which was between the two vessels, was upset and one of the men drowned, the other being picked up. A meeting and election of the Nevada Bank was called for to-day, but no quorum being present the meeting adjourned until to-morrow. To-day there is a small run on the German Savings Bank, owing to the statement made by William Hollis, President of a real estate association, and an insolvent, to the effect that he was indebted to the bank in a considerable amount, which was insecured. The Cashier says that the run has been confined to small depositors of the more ignorant and easily excited class; that the bank is paying all demands in full, and is in a thoroughly satisfactory condition, and that no run of any consequence is apprehended. The bank was examined by the Commissioners a few weeks ago and pronounced solvent.

5. October 13, 1881 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, October 13, 1881

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Meeting Postponed-Run on a Savings Bank. SAN FRANCISCO, October 12th.-A meeting and election of the Nevada Bank was called for to-day, but no quorum being present the meeting adjourned until noon to-morrow. To-day there is a small run on the German Savings Bank, owing to the statement made by William Hellis, President of the Real Estate Associates, an insolvent, to the effect that he was indebted to the bank in a considerable amount, which was unsecured. The Cashier says that the run has been confined to small depositors of the more ignorant and easily-excited class; that the bank is paying all demands in full, is in a thoroughly satisfactory condition, and that no run of consequence is apprehended. The bank was examined by the Commissioners a few weeks ago and pronounced solvent.

6. October 14, 1881 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, October 14, 1881

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The Run on the German Savings Bank. SAN FRANCISCO, October 13th.-The run on the German Savings Bank continues today, but is not formidable in amount. President Gottig estimates that up to noon about $200,000 will have been drawn out, and that probably before the movement ceases the amount may raise in the neighborhood of $400.000, This, he claims, will be rather a benefit than an injury, as it will clear the bank of the surplus cash for which there is no demand on load. The callers to-day are mainly confined to the servant-girl class, The Marder Trial at Reno. RENO (Nev.), October 13:h.-Ex Judge E. D. Wheeler testified in the shooting case: After Fowler ordered us out Balch came at me with a pistol in his hand; I struck him, and then shot two or three times; had my pistol oiled that morning by a gunsmith; cannot say who fired the first shot, but it was from the enemy; I have no money of my own in the road. I subscribed for five shares for myself, but have paid nothing, but have given my time, and subscribed for 3,000 for clients on April 25th. The next day I transferred the 3,000 shares to Thomas Moore. I got $30,000 from clients in San Francisco. and paid it in to myself as temporary Treasurer, to make the organization legal. I paid it to Moore 23 contractor. David Allen testified : Was invited to the meeting by Wheeler and Coffin; did not consider myself a stockholder; when Fowler called to men to come in I jumped by Bragg and went out thought I was the first man out; saw Governor Woods outside when I got to the door; did not see any shots fired; saw a man outside with a revolver after the shooting was over. I called to him not to go in ; Moore was beside me, and said: "What do you say?" and added, " *our party did no shooting." I then went away. First Snow of the Season. GEORGETOWN, October 13th.-The first snow of the season is now falling, the storm being unueually early. Thermometer 36°, wind southeast. The present winter is setting in unlike any other recorded here. The Masonic Grand Lodge. SAN FRANCISCO, October 13th.-The Masonic Grand Indee has decided against enreducing fees for degrees, and to day is gaged in discussing the question of an Orphans' Home. Utah levies an assessment of $2.

7. October 14, 1881 Daily Los Angeles Herald Los Angeles, CA
Article from Daily Los Angeles Herald, October 14, 1881

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Late Telegrams. A Baten or Francisco Items. SAN FRANCISCO, Ost. 13.-The first snow of the season fell at Georgetown this morning. Wind southeast and cold. The Masonic Grand Lodge has decided against reducing fees for degrees, and to day is engaged in discussing the question of an Orphans' Home. Utah levies an assessment of two dollars. The run on the German Saving's is not noon Gottig formidable Bank continues estimates in amount. to-day, that up President but to about two hundred thousand dollars will have been drawn out, and that probably before the movement ceases, the amount may reach in the neighborhood of four hundred thousand. This, he claims, will be rather a benefit than an injury, as it will clear the bank of its surplus cash, for which there is no demand on loan. The callers to-day are mainly confined to the servant-girl class. The Masonic Grand Lodge in seasion here has sent $1,000 to the Michigan sufferers. Tuesday night Mrs. Speyer put her baby in a bath tub, and durabsence room the little one the ing her temporary turned from ou the hot water faucet and scalded iteelf to death. Chief Crowley has had issued in the Chinese language the Felton it of head law, tion Chinatown, by and Chinese distributed forbidding companies the throughout collect to leave on have steamers. money wishing from The their companies countrymen the China persistently disregarded the law. The overland wires are all down, and there is very little prospect for Eastern news to-day. German Bank. SAN FRANCISCO, Oct. P. M run on the the German 13 -At 2 Bank subsided. Only three at were awaiting the Bank ment that hour election of deposits. The persons Nevada pay. was again postponed today, and will probably be adjourned from day to day until the arrival of Mr. Mackey, although, possibly, the stockholders may conclude to act without him in a few days. Bernord'sCommana. TUCSON, Oct. 13.-The Star puban interview this A lishes with Mr. W. Poindexter, morning who was with Bernard's pack train and command in says the night. instant, who left that He arriving Tucson on the last 7th out and that ones were sent were disabled giving cavairy back horses thirty the day he left. Bernard in great havno to himself ing with the pursuit time provide baste, started on arsenals or rations. pack train came with the mountains 6th him he When in extra the on up the kept without the men, 80 intent on the Indians tions beading to his off issuing was before ra- he the San Pedro at the front the of the beginning they He has been crossed outbreak. since valley. He was at Cedar and Indians many They of being the Springs, euperstitious were thinks killed. about dead fall into white men he great letting hands will encounter of their says they the conceal them or at the front danger the old settlers themaway. to The opinion personal among carry will and have already broke and are of to the rear / the Indians them scatter, is away some that to the large stores of they way have back reservation, making arms where their and ammunition concealed; and that attempt to upon the they second of this one. will outbreak organize success a Indians, they al. when hard It is presumed soldiers. who 8 ecatter pressed that say, those by get into Mexico will be settle with and cultivate their families friendly there, relations try quiet to the Mexicans, and with the providing for stock on this side of line. object raiding of for them the by The old timers at the front have no confidence in our enlisted scouts. They work for us for but work to help them out coin hostiles they'get, for the the of The scouts who Is believed consult tell them what ahead trouble. the hostiles, it are with out the are going to Indians to make somewhere for trail soldiers the upon do, which a arrange small the can report and miscommand scouts lead hostiles the falsely while the got out of the says the is that the at Cedar at the front the Indians Mr. Poindexter way. intention opinion of the escort, and with them prisonere, to their attack Springs rescue recruit was the expedition to Sonora. in high terms our and earnest speaks courage desire of troops of of their the He to meet the hostiles. A of the bnsiness principally meeting inst number leading men, citizens, held night and condemed

8. October 14, 1881 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, October 14, 1881

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TO THE SENTINEL. FRANCISCO, SPECIAL Oct. 13.-About out in SAN this afternoon a fire broke Spear, beo'clock blacksmith shop on and Upston's and Howard streets, the Calitween communicated of most Mill at the corner a covering fornia instantly Mission Planing building, combustible to 50-vara Howard. and This filled with the most mass of in few minutes a A was heavy a gale was blowing and the flames soon the and lot, flames. material, northwest, Spear street attacked to the leaped from Wig- saacross lumber yard, spreading down Howmore's the corner, and thence It conloon on nearly to Stewart. ard street, a number of small establishments, Chase & sumed Green's rigging loft, Richard's including carpenter shop Weston's and lumber Wright'ssh Doe's and of Howard yards, coal yard. on the opposite times on side fire, but were The street, were with slight of where Box Factory, loss of lumber extinguished Union suffered several some north damage. California the lying Are Mill, started, outside. owned by The W. loss J. loss on Adams, is the about is about the $60,000. Wigmore's for $26,000. The aggregate other is losses same; will insured probably bring the still up LATER-Th to $150,000. Spear street are fire confined to but the flames It is now burning, previously given. California Mill the limits the loss on the After the fire stated will reach that at subdued, least $100,000. two bodies. charred the rear was partly recognition, were found the fire in started. beyond the building in which that they were It is more California Mill. of workmen than the probable and go About rapid in employed there, that many 90 men were of the flames the spread The canning on caped with & Elfelt, the was difficulty. Code fronting estab- in eslishment street, of was somewhat that damaged fuller inforrear, Main and it bring is probable the loss up to nearly light quarter mation of will a million dollars, with a insurance. on the German Savings formidable Bank continues The run to-day, but it is Gottig not estimates in that amount. up to noon President and about that $200,000 probably will before reach have been drawn out, ceases the amount may This, he the the movement neighborhood of $400,000. a benefit than an claims, in will will be rather clear the bank of surplus loan, injury, cash callers for as which it to-day there are is no mainly demand confined on to in a the The the On servant Tuesday bath girl night tub, class. and Mrs. during Speyer her little put tempo- one her turned on rary baby absence the from hot water the room faucet and scald- the ed itself to death. has had issued in Chief the Felton law, it throughout the Chinese tributed Chinese language Crowley by Chinatown, country. and forbid- com- dismen panies ding the The wishing of head collection companies to money leave have on from the persistently their China steam-. disfell regarded ers. the law. storm of the Wind season southat The Georgetown Arst snow this morning. east; Utah cold. levies an assessment of $2 per share. M. the run on the persons German at Bank that had At2P subsided. awaiting Only payment three of was deposits. again The and will hour postponed were Nevada o-day, Bank to day, election under probably the by-laws, be Possi- adjourned from day of John Mackay. to act until the the stockholders arrival may days. conclude without bly him in a of few old residents now on soat- the The opinion that the hostiles will back to the frontier ter, some is, making their settling way in Mexico, agency, and they will seek line. to They exon this side Indian from ranches whence belief others that of the the raid scouts cattle the press been the untrustworthy throughout information to have giving on false recent hostiles campaign, and putting citizens, the troops principally the A number of meeting last night, trails. men, had a of General Wilindorsed the troops, business and conduct the action of been holding sup00X and the outbreak had pressed that no with previous 80 little loss of life and property. Leopold Seamora, Works, the Mexican has telegraphed Superintendent of Public Government, strongly of the to the Mexican the construction Magdelena to Santa River, from recommending Guaymas Railroad connect via at that point with the Cruz Arizona OBISPO Southern to (Cal.), Tucson. Oct. 13.-The Grande, railroad SAN LUIS is completed to from Arroyo that place was of and the first shipment consisting of 8,000 sacks Co. made wheat, to-day, consigned to Earnest Wall &

9. October 14, 1881 Morning Appeal Carson City, NV
Article from Morning Appeal, October 14, 1881

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San Francisco News. SAN FRANCISCO, Oct. 13.-The annual meeting and election of the Nevada Bank was called for yesterday, but no quorum being present the meeting adjourned until noon to-day. The Nevada Bank election was again postponed to-day, and will probably be adjourned from day to day under the by-laws until the arrival of John Mackay, although possibly the stockholders may conclude to act without him in a few days. On the belief that the failure of the Real Estate Association had deeply involved the German Savings and Loan Society, there has been a run on that bank by depositors yesterday and today. It is not formidable. President Gottig estimates that up to noon to-day about $200,000 have been drawn out and that probably before the movement ceases the amount may reach to the neighborhood of $400,000. This he

10. October 16, 1881 Arizona Weekly Citizen Tucson, AZ
Article from Arizona Weekly Citizen, October 16, 1881

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COAST NEWS. All Quiet San Carlos [Special CITIZEN.] SAN CARLOS, October 13. The count to-day was 3049, or five more than last week. showing that there have been no desertions for the warpath. The man killed at the Point of Mountain, about alias ten days ago, was John Gibbons, charHair Triger. John well-known acter of Arizona and New Mexico. The Charleston Murderer. [Special the CITIZEN.] CHARLESTON, October 13. -Jerry Bar the man under arrest for the murder the ton, of Merrill, a year ago, and also for shooting of Mexican here last Sunday, allowed escaped last night. He was great liberty, not being confined or ironed. Some time after 12 o'clock be left town, but was captured in Tucson early this morning. Affairs the Reservation [Special theCITIZEN.] SAN CARLOS, October 13.-The flour from Sama biego's train, which was captured by the Indians, arrived this evening at the Agency, which was fortunate to-morrow is ration day. Reub as Wood estimates his loss of Indian goods The by that train at upwards of $3,700. Indians here are apparently contented. of No further danger is apprehended their leaving the reservation. The count At at the sub-agency to day was 889. this Agency the gain over last week is 13; at the sub-agancy the count this week is 32 less that last week, the loss being in prisonerstaken to Thomas and some and Chiricahuas leaving the sub-agency coming here. The aggregate count is less than last week. False Alarm. [Special the CITIZEN.] reSAN CARLOS, October 14 The last ported fight at Cedar Springs had its origin in the shooting of chicken by returning countryman A Mexican, hearing the shot, rode twenty-two miles to Camp Thomas and reported an attack by the Indians. General MacKenzie, though he did not credit the report, sent out cavalry company, when the above befacts were ascertained. Rations are ing distributed quietly. Returning Troops. [Special the CITIZEN.] WILLCOX,October1 14. The commands of McClellan and Carroll have just arrived. They report following the Indians to San Bernardino, on the line of Mexico. They left Wagner at the same place, resting the pack train. One squaw the and two papooses came in with troops from Dos Cabezas, to which place they had been sent by Bernard from the soldiers water holes: also band of nineteen ponies and mules under an escort of five of Bailey's scouts and a detachment of the 1st Cavalry. Movement of Troops. [Special the CITIZEN. WILLCOX, Oct. 15 McLellan's and Rafferty's comm ends left this morning for Fort Grant. One hundred and sixty pack mules for Lieut. Hyde came in on the train this morning from New Mexico. Wires Down Again SAN FRANCISCO, October 13. and The overland wires at all down to-day there is very little prospect of eastern news. Bring the Law Bear -Chief SAN FRANCSICO, October 13 Crowley has had issued in the Chinese language the Felton law and distributed it through ChinatowD, forbidding the collection by the Chinese comprnies of head money from their Countrymen wishing to leave on the China steamers The companies have persistently disregarded the lame The First Fall of "the Beautiful." SAN FRANCISCO, October 13.- The first snow of the season fell at Georgetown cold. this morning; wind southeast and Levies An Assessment. levSAN FRANCISCO, October 13.- Utah ies an assessment of $2. Scalded Death SAN FRANCISCO, October 13. On Tues in day night Mrs. Speyer put her baby imporary the bath-tub, and during her absence from the room the lit le and OD turned the hot water faucet scalded itself to death. The Run Still Kept Up. FRANCISCO, October 13.--The run SAN the German Savings Bank continues to-day, but not formidable in amount President Gottig estimates that up dol about two hundred thousand noon will have been drawn out and that pronably lars before the movement hundred ceases the amount may reach four housand dollars. This he claims rather benefit than injury, will clear the bank of surplus cash for callere which there uo demandon loan. The to-day, mainly, are confined to the servaut girl class. Masonic Grand Lodge SAN FRANCISCO, Oct. The Masonic Grand Lodge has decided against reduefees for degrees, and to-day is the gaged ing in discussing the question of Orphan's Home. The Grand Lodge has sent $1,000 the Michigan sufferers. Suits Dismissed. SAN FRANCISCO, October 14.-Two for $50,000 each of the city against the suits bondsmen of Alexander Austin, late Tax Collector, were dismissed in the Superior Court yesterday Gorham Withdraws. SAN FRANCISCO, October 14.- Advices will from Washington say that Gorham withdraw and the Republicans will se lect candidate acceptable to David Davis. More Snow Reported CHICO, Cal., October Yesterday in the was the first and there SNOW is about storm one foot mountains summit of the Humboldt road. on the came down within a few miles of Chico. Victims of the Fire. SAN FRANCISCO. Oct. 14.- The remains found in the rear of the California ing Mill after yeste rday fire are and believed to be those Nelson George Edward Hodgkins, both of whom have been missing since the fire. They Mat- were employed in the mill. mechanies thew Quirk is also missing, but no other bodies have been found. Assessment Companies The FRANCISCO, October 15 Overman SAN levies an assessment of fifty cents. Commencement of Winter. FROM IONE. IONZ, Cal., October 15.-An unprecedented cold wave has been sweeping Ice the valley for the last three days.