10764. Lucas Bank (St Louis, MO)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
July 15, 1877
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
08d26db5

Response Measures

Accommodated withdrawals

Description

Multiple July 1877 newspapers report small, non‑extensive runs on Lucas Bank that were promptly met. The runs appear driven by the suspension/closing of the Butchers' and Drovers' Bank and related local bank distress, not by a specific misinformation event. No article reports Lucas Bank suspending or closing.

Events (1)
1. July 15, 1877 Run
Cause
Local Banks
Cause Details
Run likely grew out of the suspension/closing of the Butchers' and Drovers' Bank and general distrust from recent failures in St. Louis.
Measures
Met all demands promptly; time deposits in some cases required usual sixty days' notice.
Newspaper Excerpt
Runs were also made on the ... Lucas Bank ... but they were in no sense extensive. The demands were almost exclusively made by small depositors of the laboring class, and were met promptly.
Source
newspapers

Newspaper Articles (5)
1. July 15, 1877 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, July 15, 1877

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Article Text

Bucking the Banks. St. Louis, July 11.-A small run started this afternoon on the Boatmen's avings Bank, which promptly met all demands up to six o'clock. The cause is not known, neither is it known whether the run will continue on Monday. Runs were also made on the Union Savings association. Provident Sayings association, North St. Louis Savings association, Franklin Avenue, German Savings, Lucas Bank, Lifayette Bank, Citizen's Savings, and the Bank of St. Louis, but they were in no sense xtensive. The demands were exclusively made by small depositors of the laboring class, and were met promp t y, except in some cases where time deposits were called. and the banks stood upon the usual sixty days' notice.

2. July 16, 1877 The New Orleans Daily Democrat New Orleans, LA
Article from The New Orleans Daily Democrat, July 16, 1877

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Article Text

A RUN ON THE BANKS. A Panie in St. Louis Causes a General Run on all the Banks. [Special to the Democrat.] Sr. LOUIS, July 15.-The suspension of the Butchers' and Drovers' Bank yesterday caused a run in the afternoon on the Boatmen's Savings Bank, Union Savings Association, Provident Savings Association, North St. Louis Savings Association, Lucas Bank, Lafayette Bank, Citizens' Savings Bank, and Bank of St. Louis, but these runs were in no sense extensive. The demands were almost exclusively made by small depositors of the laboring class, and were met promptly. Very few if any merchants or business men joined in these runs. It is believed anxiety will subside and business resume its regular channels to-morrow.

3. July 16, 1877 The Rutland Daily Globe Rutland, VT
Article from The Rutland Daily Globe, July 16, 1877

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Article Text

Runs on Banks. ST. LOUIS, July 15. A run was started this afternoon on Boatman's savings bank, but the bank kept its door open till 6.30 o'clock this evening and promptly met all demands. The run was not very great, the largest single amount drawn being $8.000. The business of the bank progressed nearly as usual and the amount received by it amounted to nearly half as much as was paid out. W hat started the run is not exactly known, but it probably grew out of the closing of the Butchers and Drovers' bank, and the distrust which resulted from recent failures. It is believed by those in a position to know that the bank is entirely sound and fully able to meet all demands upon it. Runs were also made on the Provident savings association, Franklin avenue German savings bank, Lucas' bank, Lafayette bank, Citizens' savings bank and Bank of St. Louis, but they were in no sense extensive.

4. July 16, 1877 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, July 16, 1877

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Article Text

Bank Suspension. Sr. LOUIS, July 14.-B. M. Chambers, president of the Butchers and Drovers' Bank of this city, makes the announcement this morning of the suspension of that bank He says only 50 per cent of the capital stock has been paid in, giving $180,000 to be derived from that source, if found necessary to secure depositors. He says his wife and sister stand ready to give deeds of trust on several hundred thousand dollars' worth of property, to secure any balance that may be due depositors, provided such time as may be necessary to realize on the assets of the bank is given him. The suspension grows out of a run on the bank a year or ago, which took nearly $1,000,000, and although the bank bad to some degree recovered from that, the recent failures created such distrust that the bank lost ground again, and it was deemed best to close. A run was started this afternoon on the Boatmen's Savings Bank, but the bank kept its doors open till half-past six o'clock this evening, and promptly met all demands. The run was not very great, the largest single amount drawn being $8,000. The business of the bank progressed nearly as usual, and the amount received by it amounts to nearly half as much as was paid out. What started the run is not exactly known, but it probably grew out of the closing of the Butchers' and Drovers' Bank, and the distrust which resulted from recent failures. It 18 believed by those in position to know that the bank is entirely sound and fully able to meet all demands upon it. Runs were also made on the Union Savings Association. Provident Savings Association, North St. Louis Savings Association, Franklin Avenue German Savings Bank, Lucas Bank, Lafayette Bank, Citizens' Savings and Bank of St. Louis, but they were in no sense extensive The demands were almost exclusively made by small depositors of the laboring class, were met some were and cases where the promptly. deposits except called in for, and the banks stc upon the usual sixty days' notice. The aggregate drawn from each was comparatively small and was easily met Very few, if any, regular merchants or business men joined in the runs It is believed-at least it is contidently expected-that whatever of exeitement or anxiety among these small depositors to-day will subside to-morrow, and that business will resume its regular channels by Monday. The officers of the Boatmen's bank say they can receive money from New York and other points faster than it can be paid out here, and they have no apprehensions whatever of being in the least crippled, even though the run is kept up several days. There is nothing new regarding the Butchers and Drovers', excepting that Mr. Chambers, its president, is perfecting the guarantee promised in his statement this morning, that large amounts of property would be pledged to secure the depositors it necessary. ST. LOUIS, July 15.-All the papers this morning donated a good deal of space to the financial situation, and the run on the banks yesterday. The latter 18 treated quite lightly, and is not re. garded as in any sense serious or likely to result in disaster The U.S. Fire In surance Co, of this city, nas reinsured all its policies in the Scottish Commeretal, ot Glasgow, and closed up its affairs. Dullness of business is the chief cause of winding up. It will pay all debts, and return ninety per cent. to the stockholders.

5. July 20, 1877 The Emporia News Emporia, KS
Article from The Emporia News, July 20, 1877

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Article Text

patches report the suspension of the Pike County Bank at Louisana, Missiouri to-day. It is said that the depositors will be paid, but there will be little left for the stockholders. CINCINNATI, July 11.-The National Bank Examiner for Indiana has closed the First National Bank of Delhi on account of a run upon the bank, owing to the failure of Dugan, Case & Spears, of Chicago, Dugan being president of the bank. The assets are said to be $50,000 in excess of liabilities. Sr. LOUIS, July 14.BB M. Chambers, president of the Butchers' and Dovers bank of this city: makes an announcement this morning of the suspension of that bank. He says only fifty per cent. of the capital stock has been paid in, leaving $130,000 to be derived from that source if found necessary to secure depositors. Sr. LOUIS, July 14.-A run was started this afternoon On the Boatman's Savings bank, but the bank kept its doors open until 6:30 o'clock this evening, and promptly met all demands. The run was not very general, the largest single amount drawn being $300. The business of the bank progressed nearly as usual, and the amonnt received by it amounts to nearly half as much as was paid out. Runs were also made on the Union Savings association, North St. Louis Savings association, Franklin avenue German Savinger Lucas bank, Lafayette bank, Citizens' and Bank of St. Louis; but they were in no sense extensive. The demands were almost exclusively made by small depositors of the laboring class, and were met promptly, except in some cases where time deposits were called for and the banks stood upon the usual sixty day's notice. The aggregate drawn from each bank was comparatively small, and was easily met. Very few, if any, regular merchants or business men joined in the rans Sr. LOUIS, July 16. The North St. Louis Savings Association closed. its doors at half past ten. No statement has yet been made by its officers or directors. The Bank of St. Louis has closed its doors. The President, Jacob S. Merrill, says the depositors will be paid in time. 6P. M.-It is stated on good authority that all the large banks have declared their purpose to pay no more time certificates, except.in cases where distress or an unusual need of money is clearly shown. The Globe-Democrat special from Louisana, Missouri says at a meeting of the stockholders of the Pike county bank to-day, the directors reported the total liabilities of the bank at $115,000; net value of the assets about $70,000. The statement 16 made that depositors would receive dollar for dollar if time is granted. The capital of the bank was $400,000 with filteen per cent. paid in. The flurry of Saturday, occasioned by the condition of the banks, contrary to expectation, did not subside yesterday, but continued to-day and was materially strengthened towards noon by the elosing. of the North St. Louis Saving Association and the Bank of St. Louis. As on Saturday, however, the persons engaged in the run are almost wholly confined to small depositors of savings institutions and small shop keepers. No merchants or business men of any pretensiors are taking part in it. The four per cent. Government bonds and all securities, even those which command a premium, are being sought after or investment. BOSTON, July 17.-The Commissioner of Savings Banks has enjoined the Havenbill, Mass., Savings Bank from doing further business. ST. LOUIS, July 17,--The enforcement of the 30 days notice rules has stopped theyrunned the banks. The Brewer Savings bank closed to-day.