Article Text
Runs at San Francisco. San Francisco, Cal., June 24.-The run on the Savings Union bank was continued to-day, though with less excitement than yesterday. There was also a run on the Hibernia bank to-day. The situation is quiet.
1088. 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
99fe6dac
Response Measures
None
Other: Bank apparently refused further deposits; no suspension reported.
Description
Two newspaper items (June 24 and July 6, 1893) report a run on the Hibernia Bank in San Francisco. No article mentions a suspension, receivership, or permanent closure. The July item indicates the bank refused further deposits from speculators as a response.
Events (1)
1.
June 24, 1893
Run
- Cause Details
- Withdrawals sparked by depositors/speculators attempting to game half-year interest payments and rapid re-deposits; a rush of withdrawals/re-deposits rather than insolvency or rumor.
- Measures
- Bank reportedly refused to accept redeposits from those speculators/volatile depositors (policy of not allowing certain depositors to re-deposit).
- Newspaper Excerpt
- There was also a run on the Hibernia bank to-day. The situation is quiet.
- Source
- newspapers
Newspaper Articles (2)
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Article Text
THE Hibernia bank of San Francisco has started a new departure. A lot of predestinated women of Irish race and male depositors of Italian origin, started a run on that institution the latter part of week before last. It was but a few days before the half yearly interest was due on deposits. Diligent speculators were around buying pass books, by which they received five per cent interest for six months for about ten days' investment of their money. The besotted people began to see their folly, and started on a rush to .re-deposit. They were somewhat surprised when they were told that they could never again deposit in that bank. On reflection, this decision of the Hibernia bank was good bueiness policy. No bank is strengthened by the possession of such volatile depositors.