1083. Hibernia Savings Bank (San Francisco, CA)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
August 26, 1875
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
e69a2405

Response Measures

Accommodated withdrawals

Description

During the August 1875 panic after the Bank of California troubles, Hibernia experienced a small rush but met demands within its by‑laws and did not suspend. Date taken from article dateline August 26–27, 1875.

Events (1)

1. August 26, 1875 Run
Cause
Local Banks
Cause Details
Heavy panic and runs following the failure/trouble at the Bank of California prompted a small rush at Hibernia that was promptly met.
Measures
Met withdrawal demands promptly in accordance with the bank's by-laws (no suspension).
Newspaper Excerpt
There has been a slight rush at the Hibernia Savings Bank, but the demand was promptly met within the rules as expressed by the by-laws of the institution.
Source
newspapers

Newspaper Articles (2)

Article from New Orleans Republican, August 28, 1875

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Article Text

Custome receipts day $435,000. FENANCIAL. Gold Transfers. WASHINGTON. Auguet 27 -Heavy !rang fere of gold to California are being made by the Treasurer to-day in support of the banks of that section, upon official notifications being received at the department that the agents of the banks have deposited gold with the assistant treasurer at San Francisco, placing credite to 'the respective banks making such deposit in New York. Thus far over $1,000,000 has been trans ferred. n Blue Feeling in Oat Francisco The Struggles of the Banks to Heep Open. SAN FRANCISCO, August 26, 10P. M.-The general feeling about town to-day is rather blue. The cashier of the National Gold Bank and Trust Company stated to a gentleman during an interview this evening, that the bank would open in the morning, but might have to suspend during the day This bank paid all its gold in the after noon and a good deal of silver. It it can make arrangements to-night for coin it may be able to ride over to morrow. run 18 expected on the San Francisco and :Mer chante Exchange Bank to morrow. A meeting of bank presidents was called this evening to concert measures for rellei. The Board of Brokers have also called a meeting. Statemical of the President of the Suse pended Bank: August 26. Midnight.-The National Gold Bank and Trust Company have sent in the following notice for publication in the morning papers: "In consequence of the pabic and in 08 eibility of obtaining coin the National Gold Bank and Trust Company will close until further notice. The back has $1 300,000 over and above all, its liabilities. As soon as cois ean be obtained it will resume buei ness as usual. Ja the meantime any cred itor 80 desiring can have good assets of the bank so the amount of bis claim. By order of the board of trustees Later. August 27.-The Merchante' Exchange Bank has closed. The officersclaim the only tronble is the lack ot coin, of which they had $100,000 of $800,000 liable to draft, The managers of the London and San Francisco Bank assert their ability to meet the run. Business Suspended-Great Excitement. The exchanges are all clobed, and busi hess is suspended. Intense excitèment prevails. The Excitement Subsides-Condition of the Banks. The excitement consequent upon the fail are of the Bank of California seems to be subsiding. The crowd on California street is much less than at the opening of business this morning. The run on the London and San Francisco Baukhas ceased. with large supplies in the vaults. The slight run on the AngloCalifornia Bank this morning soon subsided. The First National Gold Bank reporte everything secure. The same may be said of the Bank of British Columbia and the Commercial and Pacific Banke. The private banks report no excitement. and everything is going on as usual. Generally speaking, all the city banks are considered sound, except the Bank of California President Ralston has said nothing in ad. dition to bis statement yesterday. Many rumors are current regarding the condition of the Bank of California. One statement. apparently from good authority is that the bank will pay the depositors in full and the stockholders fifty cents on the dollar. On the other Land. a prominent stockholder states the most the bank can do will be to satisfy the demands of the depositore, and scarcely be able to do that. There has been a elight rush at the Hibernia Savings Bank, but the demand was promptly met within the rules as expressed by the by-laws of the institution. On the whole, confidence seems to be returning It is believed the worst is over Little uneasiness is felt as to the affairs of either the National Gold Bank and Trust Company or Merchante' Exchange Bank. The former reports the probability of soon resuming, though unable to fix the time. They have an abun dance of available assets. which are only waiting the reception of coin. The presi dent this morning states that they paid out about $1,000,000 yesterday and have still a small supply left. The Merchants' Exchange Bank is be lieved to be sound, and its suspension 18 only temporary. It is stated on presumably good authority that some half a dozen heavy stock brokers are likely to go down. No names given. No commercial failures are reported, though a squeeze is expected Monday, col lection day. The savings banks during the day transacted their usual business, the deposits in some being larger than the disbursements. There is no excitement on that line. The Chamber of Commerce held a meet ing this afternoon, and decided that it would be more injurious than beneficial to take any action looking toward the post ponement of ordinary accounts or notes maturing the next collection day. The meeting was very largely tended. The city tax collector has $275.000 of pro tested tax moneys on deposit in the Bank of California, for which be has certificates of special deposit. The directors assured the collector this morning that the money would be paid in a day or two. Suicide of Ralston. Raleton. president of the Bank of CaH fornia, jumped off Selby's Smelting Works wharf this evening and drowned. The body was recovered The Effect is Chicago. CHICAGO, August 27.-The opinion of bankers in this city is that the failure of the Bank of California will produce little if any effect in Chicago The Failure in Baltimore. BALTIMORE, August 7.-The liabilities of Stirling, Ahrens & Co are $2,500,000, of which $1,000,000 is due in Baltimore to merchante, banks and private bankers, They employed 350 men in the refineries. At a meeting of the creditors of the Cal-


Article from Gold Hill Daily News, August 28, 1875

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Article Text

'Sund up pus "I hand. The sum of $3,000,000 recently purchased was obtained in this way. IT AL up cogo Avenue our up MOU #1 pus "100219 aug my squar we sany wwg puu порнет OUL our THE SERIAUS our BM 400g Sidence Returning. SAN FRANCISCO, August 27.-City Tax Collector Austin has $275,000 of proeq: up upodep no moneys XV) 1 Bank of California, for which he has certificates of special deposits. The Directors assured the Collector this piud eq pinom Aeuou our the Sujusom 70h you #1 "чу *OM? 10 Sup . up confirmed which says that Ralston has 01 streetur any JOAO petizns "yang The excitement seems to be subsid"I secure Children no prozo and *Sup -jotiq 10 Supredo eq: TV and 1 qonm ness this morning. uvg pav пориот em uo uns OUL Francisco Bank ceased within large surplus remaining in its vaults. -o[Suy our no uns state u SUM There -que uoos inq 'Supuedo em to " "pepps The First National Gold Bank reports everything quiet. The same may be THINK JO equ jo pius and the Pacific and Commercial Banks. Private banks all report no exciteIvnen su uo SujoS pus "mour generally. All the city banks considered sound except the Bank of California. Ralston addition up soching SAUN sith to his statement of yesterday. Many condition our 01 NU current OJU siouns of the Bank of California. One statepoor most up production Aud IIIA THIS #1 full and sixty cents to stockholders. On the other hand, a prominent stockholder IIIM op uuo runq em 180m eq: the selute be to satisfy depositors, and scarcely that. There has been a little rush at the Hibernia Savings Bank, but all demands were promptly met within the by-laws. Generally speaking, confidence seems " MOTST our belleved #! " pus requires over. But little uneasiness is felt as to the affairs of either the National Gold Bank and Trust Company or the Merchants' Exchange Bank. The former requires uoos 10 - reproses an sy 01 000'000 IS snoqu no prod Note ell Ajddns ITsus U THE 'Avp 'punos eq 01 BI Frohauge chants, and its suspension only temporary. D 'M jo oppoing Treate our jo I "usued "H лоло Fooling onj. NVS -dus флогр Carring close " OUG -I"O jo Bank one jo Joop epis on 01 AIP! up pus 'mo pedumn! and . "Juvq our into uus exclusion jo state . eq: of esuodses "I Inc. 10 Apoq our 1101 used puy eq prus young one no offect uu jo charge up note northern our up 'SHIOM Sumplems our a pesoddug "роимолр 'Allo our jo and suicide. Further particulars soon. LATER.- Ralston rode to Selby's No pedum! puu MORIS sumpus ***** eq: TWO em u! queet BI Libero quese our Rulstin. 10 dealh em to overshadows every other topic. From quem eq supeddy # Information 190q em to thesea-bathing establishment at North Beach about 3:25 this afternoon, undressed, went into the water, swain out dusig puu sprux perpunq OM3 about sig Jeffe uoog . person 8,591°S Posting SUM Spoq lead works, and he was brought ashore 'penomiuns SUM d V nnº but all efforts to resuscitate him failed. "14 Colonel 1030 38 pegp °H jo sequire U puu "no -xe on brojeq are citizen pired. Colonel Fry and Captain Lees obtained pus esnoq-Suiqivq our 01 suam Mr. Ralston's clothes. In these were sity pus utoo up dislare Moj . punoj statement to the bank, but nothing whatever having the least tendency to show that he committed suicide. The JACKSON 8181 01 SUM Spoq V Collon jo respirtion one state boy named Festus Mazzelle states that reached ou before Halston "IN MUS ou dn the and AUS eq: papers and throw the scraps into the on: 201 open SUM search close V "I °H 'punoj eq could ouou inq piecess drink 01 uses useq laws 01 persodes osju into Sujo8 before [UIA . jo contrits our 'wy OUL our on entering before posiod tool eq quits water. The Board of Directors of the Bank of California held a meeting to-day. Ralston was requested to resign the offices of President and Director, which -so.id our BY 'P!P eq pect, in the best-informed circles it is no of IIIM squar em IIV further trouble, and that the National Gold Bank and Trust Company and IIIM duvg -na jo 11") st пмоз equal *Aupuon no mors. The street at this hour-8 P. M. Jepun sp # dead que pepMoΓo s!-Joeling pessore our of Samo quits poots useq ever PAYSBORD of milling on: tuo 01 open order, if necessary. -nu poor no stated " " stock haven пегор 11"9 emos sure thom brokers are likely to go down. No names are given. No commercial fail-xe "I ezeenbs V reproted. 10.6 ore sain pected next Monday collection day. Aup em Supanp SQUIAVS eqL been doing their business, deposits usq, Suieq ошов up 1441 up on BI areuL line me) jo Changes our jo Justice "If jo 100.53 cosem ""I mode queq -mg our jo our on jo woysued Cham Say FRANCISCO, NVS ber of Commerce held a meeting this afternoon and decided that it would -eueq auq; snoping erom " рлимот Include action Aun Inko of Bell postponement of ordinary accounts or notes maturing next collection day attended. (Monday) The meeting was largely our state 01 Prosent " ПРОДУР #1 ¥ -nuvu on uo Relation 10 facturing enterprises in which he was