Hibernia Bank - San Francisco, CA

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: June 24, 1893
Location: San Francisco, California (37.780, -122.419)

Metadata

Model: gpt-5-mini
Short Digest: d0b65659

Response Measures

None

Description

Multiple newspapers (June 24–25, 1893) report a run on the Hibernia Bank in San Francisco contemporaneous with runs and a suspension at other local banks (Pacific Bank, Savings Union). No article reports Hibernia suspending, reopening, or closing, so classified as run_only. Cause attributed to contagion from other local bank failures/runs.

Events (1)

1. June 24, 1893 Run

Cause: Local Banks
Cause Details: Run occurred amid runs on the Savings Union and after the suspension/failure of Pacific Bank and other local bank distress; contagion from other local bank failures.
Measures: Bank declined redeposits from customers who attempted to return withdrawn funds.
Newspaper Excerpt: There was also a run on the Hibernia Bank to-day.
Source: newspapers

Newspaper Articles (5)

1. June 25, 1893 The Herald Los Angeles, CA

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Article Text

SAN FRANCISCO BANKS. Excitement Subsided-People - Redepositing Their Savings. SAN FRANCISCO, June 24.-*There was nothing around any of the banks of the city 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 deposits 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 A number of persons who had withdrawn their accounts from the Hibernia bank yeaterday, called at that institution this morning and wanted to redeposit their money, but they were informed that their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 is nothing out of the ordinary at any of the commercial banks.

2. June 25, 1893 New-York Tribune New York, NY

Article from New-York Tribune, June 25, 1893

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Article Text

THE BROKEN PACIFIC COAST BANKS. BAD MANAGEMENT IN SAN FRANCISCO-SIGNS OF IMPROVEMENT VISIBLE. San Francisco, June 24.-The Concrete opinion of the bankers of San Francisco is that the Pacific Bank was compelled to suspend payment because It made unwise Investments In securities from which it could not get out its money. and that the People's Home Savings Bank was compelled to suspend because it had not on hand coin enough to stand the run sure to follow the announcement of the suspension of the Pacific Bank, its business associate. In other words. the failure of the Pacific Bank was not more due to the present financial troubles than to fundamental weakness in Its management. The flurry seems to have passed in this city, and no anxiety is felt that other banks will succumb. Bankers say they have ample funds to meet all demands. The run on the Union Savings Bank continues to-day, though with less excitement than yesterday. There was also a run on the Hibernia Bank to-day. Seattle, Wash., June 24.-A special from New Whateom says: Inability to realize on gilt-edge securities forced the Columbia National Bank to close its doors yesterday morning. Their assets are placed at $226,762. with liabilities not exceeding $100,000. Confidence is felt In the other banks and no further trouble Is expected. The Columbia Bank Is capitalized at $100,000. The Controller of the Currency has been advised and will take charge of the affairs of both the Columbia and the First National, which suspended yesterday. The cashier of the falled First National Bank says the assets are $428,000: liabilities, $110,000. San Bernardino. Cal., June 23.-The First National Bank closed its doors yesterday after undergoing a run for the last five days. Washington, June 24.-Controller Eckels this mornIng received a telegram from the San Bernardino Bank asking permission to reopen. He answered that he would consider the request when his examiner made Bank Examiner Lazaer, who is at Los report. Angeles, has been directed to take charge of the San Bernardino Bank. while Mr. Wightman, the examiner "ii San Francisco. will relleve bim at the first named place. Bank Examiner Clarey, of Tacoma, has been directed to go to New-Whatcom. Application has been received by Controller Eckels from all the banks in Spokane requesting him to allow the Washington National Bank of Spokane to reorganize. The Board of Trade of San Diego, Cal., and the president of the dispended First National Bank of that place, have requested that the bank be allowed to resume busttress. The request will be considered when the exuniner's report Is in. Los Angeles, Cal., June 24.-The East Side Bank opened Its doors this morning. This 13 the first of the closed banks to resume. A feeling of confidence has returned. The other banks will open on Monday, except the City Bank, which is in the hands of a recelver.

3. June 25, 1893 The Times Richmond, VA

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Article Text

Telegraphic Brevities. WASHINGTON, June 24.-Maurice J. Power has been appointed shipping commissioner at the port of New York, vice James C. Reed, removed. ALBANY, TEX., June 24.-Fire started in A. J. Cente's dry goods store yesterday and destroyed a whole block. The loss is $75,000. Insurance unknown. ROCHESTER, N. Y., June 24.-Two freight trains were wrecked on the Hudson Central railroad by a hind end collision a few miles west of this city early this morning. Seven men were injured. SAN FRANCISCO, CAL., June 24.-The run on the Savings Union Bank continued to-day, though with less excitement than yesterday. There is also a run on the Hibernia Bank to-day. The situation is quiet. YORK, PA., June 24.-The extensive cigar factory of S. S. Cable was gutted by fire this morning. The contents, consisting of cigars and leaf tobacco, were entirely destroyed. The damage will not exceed $2,000; insurance, $32,000. Sheriff Gallatin this morning attached the insurance money to satisfy claims of leaf dealers. PHILADELPHIA, June 24.-Gillinder & Sons, glass manufacturers, of this city, are financially embarrassed, and have made a proposition to their creditors for an extension of time. The assets of the firm amount to $154,301, and the liabilities to $202,438 Stringency in the money market, resulting in inability to collect debts, is given as the cause of the embarrassment. BOSTON, June 24.-Dr. William T. S. Wardwell, thirty-five years of age, of Rock Berry, was shot and almost instantly killed this afternoon at his home by Amos L. Morse. Morse entered the Doctor's house for the probable purpose of robbing, and was discovered by the Doctor, who evidently tried to detain him. Morse then shot the Doctor twice, and he died almost immediately. COLUMBIA, S. C., June 24.-A special to the Register from St. Matthews says: "William Davis, an old negro, was shot and killed here last night about dark by August Jenkins. The two men had a row about a hen which Jenkins' hog had eaten, and after blows Jenkins rushed into his house, seized a gun and fired at Davis, the whole load taking effect in Davis' breast. Davis staggered a few feet and fell dead at Jenkins' door.

4. June 25, 1893 The Roanoke Times Roanoke, VA

Article from The Roanoke Times, June 25, 1893

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Article Text

The Bank Troubles. SAN FRANCISCO, Cal., June 24 -The run on the Savings Union Bank continues day, though with less excitement than yesterday. There is also a run on the Hibernia Bank to-day. The situation is quiet. ATLANTA, June 24 -Howard Bank of Cartersville, Ga., the largest town between Atlanta and Chattanooga, suspended payment this morning owing to the withdrawal of funds by depositors and the inability of the bank to realize on its assets, and on account of the general hard times. The bank has posted a notice that depositors will be paid in full as soon as collections can be made. It has heretofore been considered one of the strongest banks in the smaller towns of the State.

5. June 25, 1893 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, June 25, 1893

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Article Text

Standing the Storm. (By telegraph to the Dispatch.1 SAN FRANCISCO, CAL., June 24.-The run on the Savings Union Bank continues today, though with less excitement than yesterday. There is also a run on the H1bernia Bank to-day. The situation is quiet.