San Francisco Bank - San Francisco, CA

Episode Information

Episode UID: 11005571542
Episode Type: Run Only
Bank Type: state
Bank ID: 1100557 routing
Routing Number: 11-0055
Start Date: June 27, 1928
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: 6c6cbc6c976d4c75

Response Measures

None

Description

Article refers to San Francisco banking region generally rather than a specific institution.

Events (1)

1. June 27, 1928 Run

Cause: Local Shock
Cause Details: Heavy stock liquidations in the San Francisco region led to large withdrawals affecting the local bank borrowings.
Newspaper Excerpt: that total accounted for the San Francisco bank. indicating clearly the effect of the heavy run stock liquidation from that part of the country recently.
Source: newspapers

Newspaper Articles (1)

1. June 27, 1928 Hartford Courant Hartford, CT

Article from Hartford Courant, June 27, 1928

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Article Text

Call Money Advanced To 7 Per Cent Wall Street Undisturbed by Stiffer conda Advances Dividend New York. June from slackening of the trading pace, the stock market was not visibly disturbed by the raising of the money to per cent shortly after midday. The higher rate which had been forecast as consequence of the strain imposed on the credit market by preparations for semi-annual and month-en adjustments, followed the calling of upward of $30,000,000 loans by banks after the renewal had been per The condition regarded as temporary and due part to the desire of banks place themselves in best possible shape against call by the comptroller later for statement of conditions. Not the least interesting of the disclosures weekly statement reporting banks of the system the deposit item Last week for the first time in many months, the Government was without dollar on deposit in reserve center. week the system shows of deposits Analysis the decrease borrow. ings, shows that of that total accounted for the San Francisco bank. indicating clearly the effect of the heavy run stock liquidation from that part of the country recently. Wall Street was more or less disErskine, head of the Studebaker Corporation, made early the afternoon that no statement the said, would have to from the Pierce Arrow organization following directors meeting Buffalo Friday. This was interpreted as indicating that Studewould be definitely decided today be considered the Pierce Arrow board in the interval. Persistent weakness in United States Rubber common forcing that stock back steadily the lowest levels since and the preferred to the lowest naturally disturbing rumors One report that conditions were shaping for reorganization The company, pointed out, last year set up to take care of inventory fluctuations and faced with difficult problem in seeking absorb the loss which must this far in 1928 from the abrupt decline in crude rubber prices No distribution of the cash realized the Delaware Hudson from recent sale Lehigh Valley and Wabash holdings to likely an early date. Loree intimated this the special stockholders' today when he plied to one holder that point him that proceeds belonged to shareholders and would ultimately be distributed in one form or another he pointed out interests of the company would probably be served by keeping such assets hand pending the ultimate outcome the plans for reshaping the eastern trunk line map. Delaware Hudson was up points the top levels the day but slipped back somewhat later on. One of the day's pleasant surprises came in the late morning with the news of the raising of the Anaconda Copper mining rate $4 annual basis from the $3 rate which had force dividend had been expected but most people did not the change until later in the year. Good buying of the developed on the news. with Kennecott favored because the belief in some quarters that lifting of its dividend rate to a $6 basis is not far distant. Interest continued to center printhe identity those have active on the buying side during the current spell little the present demand was looked upon as coming from wealthy individuals who several months ago had certain stocks against strong box holdings on theory that the market was setting too high. These individuals while to their stock were anxious take advantage setback which viewed and their judgment been quite right, they now cashing in on their "hedges. Grain Quotations Chicago. WHEAT143 Sept London Market. London. June Consols for money De Beers Rand Mines 3-8: bar silver 27 per ounce: money 3-4 cent: discount rates. short bills cent. Three months 7-8 per cent.