1072. Hibernia (San Francisco, CA)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
June 23, 1893
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
2b7379cb

Response Measures

Accommodated withdrawals

Description

Newspaper accounts describe a short stampede/run on the Hibernia in mid‑June 1893 with the bank paying out withdrawals and refusing redeposits from those who participated. There is no mention of a suspension, receivership, or permanent closure in the articles. Cause appears to be fear/rumors triggered by recent bank collapses elsewhere and general nervousness among depositors.

Events (1)

1. June 23, 1893 Run
Cause
Rumor Or Misinformation
Cause Details
Depositors panicked (stampede/idle fears) reportedly influenced by news of recent collapses of savings banks elsewhere and general nervousness among immigrant depositors.
Measures
Paid out withdrawals (a few thousand dollars) and refused to accept redeposits from customers who had withdrawn during the stampede.
Newspaper Excerpt
The Hibernia paid out a few thousand dollars and refused to reopen accounts with those of its customers who had joined in the stampede on Friday.
Source
newspapers

Newspaper Articles (2)

Article from The Morning Call, June 25, 1893

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Article Text

A CLOUDLESS SKY. The End of the Financial Flurry. THE PACIFIC BANK'S AFFAIRS. The Attorney=General Obtains an Injunction Against the Sheriff, Which Is Very Materially Modified. There was no uneasiness yesterday among bank depositors. Noon is the customary hour for closing bank business on Saturdays. Long before that time the last trace of Friday's feeble flurry hag gone. Idle fears had vanished. and those who had allowed themselves to become frightened the day previous had in many instances sufficiently recovered to proclaim themselves very foolish for engaging in the run and thus losing the interest on their deposits. All was quiet at the Savings Union Bank. The Hibernia paid out a few thousand dollars and refused to reopen accounts with those of its customers who had joined in the stampede on Friday. Examination of the books showed that the great majority of these people were Italians, who are unusually sensitive in regard to banks, owing to the fact that two or three savings banks in the Italian quarter of New York City had recently collapsed. All was quiet at the People's Home Savings Bank. The management announced that the bank would open for business this week and be amply prepared to stand anv kind of a run which the depositors saw fit to make. The Pacific Bank was the center of interest yesterday on account of the contest between Sheriff McDade and the AttorneyGeneral, who represented the Bank Commissioners. During the morning the Bank Commissioners concluded their examination of the books. This week they will overhaul the assets and ascertain how near they agree with the books. The following statement of the condition of the Pacific Bank is that which the Commissioners have now before them:


Article from The Seattle Post-Intelligencer, June 25, 1893

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Article Text

Confidence Restored in was Francisco. SAN FRANCISCO, June 24.-There was nothing around any of the banks this morning to indicate any excitement. Small groups of men stood on the sidewalks in front of several savings banks, but there was no attempt at a run on any of them. The San Francisco Savings Union reported a greater amount of de. posits than it had received on any one day for a month or more. A number of persons who had withdrawn their accounts from the Hibernia bank yesterday called at that Institution this morning and wanted to redeposit their money, bus they were informed that their deposits were not desired. R. H. McDonald, jr., stated this morning that the Pacific bank would open again soon. There was nothing out of the ordinary at any of the commercial banks.