1104. Masonic Savings Bank (San Francisco, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
August 22, 1878
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
510a811d

Response Measures

None

Description

Newspapers (Aug 22–26, 1878) report the Masonic Savings Bank suspended and gone into liquidation with Bank Commissioners' statement showing asset shortfall and losses to depositors; no clear, large depositor run caused the suspension (only a small ripple of excitement/increased demand reported). Classified as suspension leading to permanent closure/liquidation.

Events (2)

1. August 22, 1878 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Commissioners found liabilities $1,361,655 vs. good assets $1,090,256; capital and reserve lost, leaving an uncovered loss to depositors of $71,780 — indicating insolvency and failure of the bank's finances prompted suspension.
Newspaper Excerpt
The Bank Commissioners make statement of the condition of the suspended Masonic savings institution.
Source
newspapers
2. August 26, 1878 Other
Newspaper Excerpt
The Masonic Savings Bank has sus-ed and gone into liquidation. It is believed it will be able to pay all depositors, but stockholders will come out minus.
Source
newspapers

Newspaper Articles (3)

Article from Eureka Daily Sentinel, August 23, 1878

Click image to open full size in new tab

Article Text

PACIFIC COAST. [SPECIAL TO THE EUREKA DAILY SENTINEL.] CALIFORNIA. MICHAEL REESE'S ESTATE. A MISTRESS AND HER SON PUT IN A CLAIM. Hall MeAllister Declines to Take the Case. SAN FRANCISCO, Aug. 22. Isabella Ancona, a native of Panama, who came here in 1850, and her son, Richard Ramesis, have come forward as claimants to the Recse estate. The lady asserts that the dead millionaire was the father of her boy, but it has not been shown that Michael Reese in any way adopted him, and the publication of the will proves that no pro vision was made for the young man, if indeed the deceased ever admitted the paternity. It is reported that Hall MeAllister declined to take up the case, as he could find no proof of legal rights in the claim. The woman is credited with saying that she lived with Michael Reese from 1853 to 1859. There was a rather larger demand than usual this morning by depositors of the Clay street Savings Bank, on account of the withdrawal of the business of the Masonic Bank. The Clay street Bank also held a large amount of U. S. pay certificates, but it appears that they have not been borne in the assets of the bank, as was the case with the Masonic Bank, and were provided for long ago. The officers of the bank expressed no fear of a run on the concern in case one should be started. By noon the little ripple of excitement had subsided, and affairs at the bank have resumed their former aspect. SACRAMENTO, August 22. The Supervisors to-day elected H. S. Beals to succeed Troy Dye as Public Administrator, the latter having resigned. Dye took the office on March 4th, 1878. Since then he has administered upon but five estates of small value. Anderson has been removed to the county jail from the city prison. After being washed, combed and dressed anew he was scarcely recognizable. He is a tall, well-formed and blueeyed man; his hair is heavy and soft, and combs back from a pretty fair forehead. He is 37 years old. All in all, he does not fill the bill of a hideous villain, so far as appearances go. Dye is above the medium height, rather slim built, prominent cheek bones and of a rather fair complexion. He is 35 years old and weighs about 155 pounds. He is of a smiling countenance, though his features are angular; is affable, winning in his ways, and would be the last man one would take to be a cold-blooded and villainous murderer. The prisoners are kept in iron cells and in separate tiers of cells. Anderson's preliminary examination has been fixed for the 28th instant. The Bank Commissioners make a statement of the condition of the suspended Masonic savings institution. They find the liabilities $1,361,655 good assets, $1,090,256. Capital of the bank. lost, $148,693; reserve. lost, $50,921. The last two amounts, deducted from the difference between the assets and liabilities, leave a loss to depositors of $71,780. WOODLAND, August 22. The dwelling-house of Morris Hymann, in this city, was burned last night, with its contents. Loss, $5,000 ; insured.


Article from Daily Los Angeles Herald, August 23, 1878

Click image to open full size in new tab

Article Text

Pacific Coast News. The Massaic SAVINGS Bauk. SAN FRANCISCO, August 22.The Bank Commissioners make statement of the condition of the suspended Masonic Savings Institution. They find the liabilities $1,361,655; good assets, $1,090,256; capital of the bank, lost, $148,693; reserve, lost, $50,921. The last two amountsare deducted from the difference between the assets and liabilities, which leaves a loss to de. positors of $71,780. A Refructory Crew-Not Gallty. August 22.-The which was bark SAN Sonoma, FRANCISCO, to sail from this port this morning, shipped a crew that showed its character before going to sea. Yesterday morning, when told to turo out and the ship ready for sea, refused to they get do duty, and the master was forced to hand five of them over to the United States Marshal. The testimony and argument in the case of Charles A. Morrill, late Captain of the Custom House Inwere concluded in the States and at spectors, day, United 10:30 Circuit o'clock Court this yester- morning Judge Sawyer charged the jury, who retired and in half an hour returned a verdict of not guilty. cut His Throat. SAN JOSE, August 22.-A German named Chris. Schmidt, a saloon keeper in this city for many years, cut his throat at his room. The suicide had sat on the edge of the bed and pulled a razor across his throat with such strength as to almost sever his head from his body. Shooting Affiny. SAN LUIS OBISPO, Aug. 22nd.A shooting affray occurred night before last, six miles from town, between Francis Castro and T.B. Jones. The former received one shot, the latter two. Jones died yesterday morning at 4 o'clock and Castro died this morning at The difficulty grew out of a disputed right of way across Castro's place. The chrome Interest is growing into great importance here. The product now exceeds fifty tons daily. Two thousand five hundred tons are at the depot awaiting shipment. A Vereran Beer Drinker Dead. IONE CITY, Cal., August 22.-Frederick Multner, a brewer of this place, died at noon to-day. Deceased has drank nothing but beer for fourteen or fifteen years, water never passing his lips in that time. Increased Grain Product in Ore exon. PORTLAND, Ogn., August 22nd.Harvesting in this State is about two-thirds through. From very full returns it is estimated that there is a large increase over last year. The grain is larger and plumper than known for years and will average from 62 to 63 pounds the bushel. There has been an increased acreage, which more than offsets the average decrease in the yield of bushels to the acre. This increase, together with an increase in weight, will give not less than 10 per cent. more bushels than any previous year. A New shaft. VIRGINIA, Nev., Aug. 22.-It has been determined tosinka newcambination shaft for the Gould and Curry and Best and Belcher mines. Work was begun to-day on R street, south of Washington, 220 feet east of the G & C works.


Article from The Weekly Arizona Miner, August 30, 1878

Click image to open full size in new tab

Article Text

PHENIX, August 26-3 P. M. The Democratic Convention is in session to-day, with fifteen delegates present. Gray was nominated for Council; Alsapand Gleason for Assembly, and Naylor for District Attorney, without opposition. First ballot for Sheriff resulted as follows: McDonald, 3; Thomas, 6; Fenter, 6. Recess for 20 minutes. MCCLINTOCK. Phenix, Aug. 27. Rube Thomas was nominated for Sheriff by the Democrats yesterday, on the second ballot; John George, for Treasurer; Neri Osborn, Recorder; and Dr. Gregg and J. H Lively, Supervisors. The following resolution was unanimously passed by the Conventiol: Resolved: That the candidacy of King S Woolsey for Delegate to Congress meets our hearty approval. His thorough knowledge of the wants the Territory and his inde-ratigabable character as a man of intelligence and enterprise, satisfy us that he is, of all the dandidates in the field, entitled to our most zealous support. MCCLINTOCK. Washington, August 26. Col. Mosby, the ex-Confederate, has been appointed to a position in the State Department. The Treasury Department has called in another five million batch of 5-20 bonds An interview with Senator Conover is published in which he says he wont accept a nomination for the lower House from the 1st district of Florida, on the ground that the administration Republicans show so much apathy that it is useless to make the race. It is also stated that Senator Spencer has made up with the administration. New York, August 26.-All differences between the Pacific Mail and the Pacific Railroad have been amicably adjusted and contracts entered into by which the Mail Company ges ten dollars per head on all through passengers overland, but each company will regulate its own freight schedules. Pittsburgh, August 26. First case of yellow fever arrived last night on the steamer Abner O'Neal, from Wheeling. Philadelphia. August 26.- Two cases of yellow fever were discovered in this city last night. Vicksburg, August 26.--The yellow fever is increasing. Fifty new cases and 22 deaths during the past twenty-four hours. Trains on the Vicksburg and Meridian railroad have ceased running. Memphis, August 26.- Seventy-six new cases and 17 deaths yesterday. The fever is spreading among the colored people. Philadelphia, August 26. Ten thousand men from the various iron mills notified their employes that they would not work for the reduced wages. The strikers are members of the association of iron and steel workers, of the United States, whose headquarters are at Pittsburgh. The strike has the sanction of that body which agrees to support the strikers. London, Aug. 27. Dutche Zeitung announces that differences have arizen between the Porte and Austria, of a serious nature, in regard to the conclusion of the Convention. Pesth, Aug. 17-The elty authorities refused to execute the military order making a requisition for 50 wagons. St. Petersburg, Aug. 27. The new five per cent, loan of 300,000,000 roubles is announced. Rome, Aug. 27.-Lazaretti, the fanatic of Grosseto, who proclaimed himself Prophet and King, was killed at the head of 300 followers, who fi.ed upon the Gens de Armes after being ordered to disperse. Batoum, Aug. 27. The harbor forts being disarmed, and the torpedoes removed, the town is swarming with armed volunteers, It is reported from Tiftis that precautions are being adopted throughout the Caucasus against a general uprising. St. Petersburg, Aug. 27.--Fresh troops are leaving to replace those ordered home from Constantinople. It is thought, consequently, that Russia does not immediately intend to withdraw from Turkey. Salt Lake, Aug. 27-Wm. G. Williams, convicted last June of robbing Wells, Fargo & Co.'s Express, between Ogden and this place, of $15,000, has been granted a new trial, and bonds fixed at $20 000. It is stated that since his conviction he has made important disclosures implicating others. Virginia City, Montana, Aug. 27. The Ranchmen from whom Indians stole stock at Rockon, Montana, a week ago, followed them till they found they had joined a larger party, then returned. Capt. Jagan, with a company of 2d Cavalry in pursuit, will doubtless strike them in a day or two. San Francisco, Aug. 26. A Boise dispatch states that on the 19th irst. Wm. Munday, S. Smith, S. Healy, and Jacob Groscelose left Indian Valley in pursuit of an Indian who stole stock. At noen Tuesday when near the Falls of Payette River, were fired upon by Indians concealed in the rocks, and all killed except Smith, who was wounded, but escaped. Major Dunn, with 100 Enfantry, have gone in pursuit of them. The Masonic Savings Bank has sus-ed and gone into liquidation. It is believed it will be able to pay all depositors, but stockholders will come out minus. Boston. August 27.-Butler publishes a card in reply to the dispatch about the alleged Sherman letter, in which he says: "I have never seen the original of Sherman's letter. I never told a personal friend or enemy that it had been obtained or that it was genuine. So far from that, I do not believe its present existance, if it ever had any." Nashville, August 27,-A special from Lebanon says that the revenue fight in Orton county was countinued until Sunday afternoon, the moonshiners having hemmed the revenue men in a house, when some citizens from Cookeville arrived and persuaded Morgan to allow the revenue officers to withdraw. London, August 27.-Principal charge of the Rhodope commissionsrs against the Russians is that of borabarding and burning the villages near Rhodope, which refused to disarm. A region several miles between Sturimaka and Dematika has been completely devastated. The commission recommends a permanent International Commission and local police. Memphis, August 27.-New cases yesterday, 57; deaths, 33. To-day there are 100 new cases and 20 interments. New Orleans, August 27.--Mortuary report for the week shows 380 deaths from the yellow fever. Vicksburg. August 27.-One hundred and forty new cases reported and 25 inernments. Weather unfavorable. Winnemucca, Nev., Aug. 27-Major Egbert's command, comprising companies B. C. D. F. & K., 12th Iuft., 150 men and officers passed this point at 9. a. M., en route to Arizona. Mr. Chum, of the Citizen, is happy to think that hemp can be raised successfully in Arizona, remarking that a quintity will be needed with which to hang stage robbers. If all men were like the excellent Sheriff of Pima C