San Francisco Bank (San Francisco, CA)

Episode Information

Episode UID
11005571276
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
1100557 routing
Routing Number
11-0055
Start Date
April 18, 1906
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4b88e78d2fb1be70

Response Measures

None

Description

Later article (1909) implies the same named bank failed in the Panic of 1907; linkage to 1906 events is plausible but not fully confirmed.

Events (3)
1. April 18, 1906 Suspension
Cause
Local Shock
Cause Details
Suspension of operations after the April 1906 earthquake and ensuing fires made vaults and quarters inaccessible
Newspaper Excerpt
they cannot be safely opened for some time to come
Source
newspapers
2. May 23, 1906 Reopening
Newspaper Excerpt
On May 23 the San Francisco bank again opened for business. When the earthquake caused them to suspend ... the vaults held the money and securities free from damage.
Source
newspapers
3. October 1, 1907* Receivership
Newspaper Excerpt
The San Francisco bank ... failed during the financial stress and the money markets of the east were closed.
Source
newspapers

Newspaper Articles (4)
1. May 1, 1906 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, May 1, 1906

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Article Text

Ane IN Representatives of Savings Institutions Discuss Financial Affairs. The executive committee of the Associated Savings Banks of San Francisco held a meeting yesterday, the following members being present: Richard M. Tobin of the Hibernia Savings Bank, A. H. R. Schmidt of the German Savings and Loan Society, E. B. Pond of the San Francisco Savings Union, J. A. Hooper of the Mutual Savings Bank, A. N. Drown of the Savings and Loan Society, S. L. Abbott of the Security Savings Bank and W. E. Palmer of the Humboldt Savings Bank. These gentlemen have been getting expert testimony as to when It will be safe to open the bank vaults, and the consensus of opinion is that they cannot be safely opened for some time to come. The report that the savings banks would blacklist depositors withdrawing their accounts was strenuously denied, as there is no uneasiness among the bankers about withdrawals, the present conditions not being a panic, but entirely local and caused by the recent calamity. The principal question of discussion was the handling of the money which will be received from the insurance companies in settlement of losses. A definite policy was not decided upon, but all agreed that this money should be used in restoring improvements whenever it was posible.

2. May 24, 1906 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, May 24, 1906

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Article Text

ring throughout the day. Some groups consisted of families who had taken the precaution to bring something to eat and who munched begrimed sandwiches in the a storms of dust under the lée of fence that had remained standing after the fire went by. QUIET AT OTHER BANKS. The scenes about the Hibernia Bank neighborhood were not duplicated at either of the three other banks that the were reopened yesterday. At Mutual Savings Bank, the doors were has opened at 9 a. m. The Mutual about 10,000 depositors. Comparafew of these came to the bank- the ing tively house. Like the Hibernia, Mutual Savings Bank was able to resume in its old quarters, the bank building having stood securely throughout the disturbances of April, loss being caused by the burning used the of the inflammable materials in out interior construction and furnishings and office fixtures. At no time were there more than depositors in the bank at once. 100 Deposits, so the officers of the bank reported. amounted to a considerable The money withdrawn amountsum. ed to little more than an average day's business. According to a statement issued for by bank, the average of deposits each." the 10,000 depositors is but $1000 The Mutual Savings Bank had $5.000,000 loaned on real estate. Less than one-half of the amount was dis- on properties situated in the burned loans of the city. Where the imtrict in the burned district the The were provements were fully insured. $100,building was insured for bank It can be restored to its original 000. condition for about half of that sum. The bank had half of its deposits invested in United States bonds and miscellaneous bonds, to the amount re$5,000,000, all of which was and of by the bankers to be good with ported available. The bank reopened the $2,000,000 in cash belonging to institution. "We asked no accommodation whatever from our correspondents." one of the officers, "although of said banks as the First National of such York, the National Bank NaNew of New York and the tional Commerce City Bank of New York made At voluntary offers of assistance." Mutual Savings Bank no limit was placed the on the amount that depositors could draw. the German Savings Bank, in At old bank building on California street, the the crowd was small, never dur- ex150 persons at any time drew ceeding the day. All depositors lady ing whatever they called for. One and out quite a large amount After had took a sack in which to place it. she had received the money she redeposited it. ONLY ONE TEMPORARY HOME. The Mechanics' Savings Bank was only one of the four mentioned the opened in a temporary structure. all its that the vault, which, with by contents, Around entirely escaped injury of fire, a one-story wooden structure, size suflicient to carry on a large banking business, has been constructed. U. Calkins, the cashier, said: old J. opened at 9 a. m. at the 'We and have paid every depositor, the stand, without limit, who has visited today. That will be the rule observed. bank This bank had only twelve on property in the burned dis- to loans tricts. We have money sufficient satisfy all claims promptly. During the greater part of the Me- day were so few persons in the there Bank structure, at 143 Mont- inchanics' street, that absolutely no dication gomery was afforded that money was in demand. There was no excitement at any re- No opened savings bank yesterday. about doubt was anywhere expressed ability of the savings institutions to the pay dollar+for dollar as the money is wanted. The San Francisco Savings Union, which will reopen for business in the China building. at the northwest old corner of California and Montgomery Continued on Page 2, Column 2.

3. May 26, 1906 Holbrook Argus Holbrook, AZ
Article from Holbrook Argus, May 26, 1906

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Article Text

On May 23 the San Francisco bank again opened for business. When the earthquake caused them to suspend there was more money on deposit than ever before in the history of the city and the vaults held the money and securities free from damage. A few banks have not reopened be cause quaters were not obtainable. The savings banks had millions in coin and securities in their vaults which was undisturbed by the fire.

4. October 15, 1909 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, October 15, 1909

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Article Text

Complete Reorganization of Missouri Pacific Affected. Pueble & State Line Roads Included in the Big Morger. OPEN WESTERN PAC. Western Line of Gould System Ready by December. Other Items of Interost in Railway Circlos. St. Louis Oct. 15.-Official announcement has been made of the reorganization of the Missouri Pacific system. The railroads included in the merger, with their ca italization. are given as follows: Missouri Pacific, $100,000,000; Kansas & Colorado, $27,000,000; Central Branch railway, $7,585,000; Rooks County railway, $500,000; Nevada & Minden, $450,000; Nevada & Minden of Kansas, $675,000; Kansas City & Southwestern, of Missouri, $300,000; Kansas City & Southwestern, $700,000; Fort Scott Central, $2,000,000; Kanapolis & Kansas Central, $10,000,000. Of the stock in these various railroads the Missouri Pacific hold. $3,500,000. The capitalization of the reorganized Missouri Pacific is $240,000,000. The reorganized company is incorporated under the laws of the states of Kansas, Nebraska and Missouri, and the articles have been filed in every other state in which the lines run. In addition to the lines already included in the merger there will be added the Pueblo & State Line road, with a mileage of 175 from Pueblo to Kanfas. This road is likewise controlled by the Missouri Pacific. The significance of the merger is explained in the fact that the Western Pacific road, the Gould line from the west into San Francisco, will be completed and ready for through business by December 1. The Gould interests are getting in shape for their "across the continent" lines, and the merger is part of the general scheme to consolidate all subsidiary companies and be in position to take advantage of fullest possibillties in their territory through traffic arrangements. With the Western Pacific, the Rio Grande Western, the Denver & Rio Grande and the Missouri Pacific systems Gould will be able to meet all competition between the Missouri and Mississippi rivers and the Pacific coast. The Western Pacific has encountered more difficulties than most roads, but it is now in the clear and the line will be finished by December 1, according to the promise of the attorneys for the road. In addition to costly and prolonged litigation over terminal rights on the Pacific coast, the Missouri Pacific had to face the panic of 1907 at a critical point in its history. The San Francisco bank, which was made its depositary, failed during the financial stress and the money markets of the east were closed. Costly and difficult engineering problems were encountered. also, but they were all overcome and the several systems are held to be in good condition.