1106. Mercantile Trust Company (San Francisco, CA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
trust company
Start Date
April 18, 1906
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
221bd710

Response Measures

None

Description

The Mercantile Trust Company suspended normal operations because of the April 18, 1906 San Francisco earthquake and fire which damaged access to vaults and premises. Articles report vaults were safe and that the bank would open safe deposit boxes in early May, indicating a temporary suspension followed by reopening. No bank run is described in the material.

Events (2)

1. April 18, 1906 Suspension
Cause
Local Shock
Cause Details
San Francisco earthquake and subsequent fire (April 18, 1906) that disrupted bank operations and access to vaults.
Newspaper Excerpt
the people will to act we with the banks ... The grounds of the Mercantile Trust company are reported safe.
Source
newspapers
2. May 6, 1906 Reopening
Newspaper Excerpt
The Crocker-Woolworth bank and the Union Trust and Mercantile Trust companies will open their safe deposit boxes on Monday morning next. (May 4 article; Monday would be May 6, 1906.)
Source
newspapers

Newspaper Articles (4)

Article from The Herald and News, April 24, 1906

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Article Text

feel certain that the people will to act we with the banks and not try make a run. It was Dangerous Walking in many parts of the financial districts, for the walls and pavements hot and one stood in danger of off his shoes. are scorching very The heat But between the buildings is stifling. The the fire in this part is dead. building of the International Buildand Loan association is a wreck. The ing vaults are bulged, but the officials say that the securities are safe. The and of the London, Paris bank are all underwriters take stock on vaults the American right. When this fire they will probably find that it was not so hot as the Baltimore, and Boston fires. Chicago nearly It floor would damage a building taking a this or two, and pass on. The people lay to the lazy burning of the red wood. On the other hand there were centers of the fire whirlwind where everyruined. thing seemed to be fused, melted and Proceeding Up Market Street toward the ruined City Hall, I found the Grand Hotel razed to the ground. The walls of the Palace hotel are but the building is a loss. building is gone. standing, The Examiner building, The the steel frames of the Call highest in the city, saved it, and fire in its interior seems to have stopped short of its top. They may be able to save the walls. The ground floor, Pawhere the National bank of the cific was housed, is a complete wreck. their It is not possible to get at vaults owing to the wreckage. The Parrott building, containing the Emporium, the largest depart The store in the west, is gone. wall and a part of a the rest are ment front are gone, down. side This wall contained the quarters of the sucourt of California and the on the coast. best preme library The records Beand the library are destroyed. tween these big Market street build- old ings were a lot of small and structures of brick. The fire played ducks and drakes with these. Most of them cast the walls in the street and Market street all along is piled with hillocks of broken bricks, over which teams and pedestrians climb. In spots the soldiers were making idlers work, clearing a passage, but there are not enough soldiers just now to make the work effective. The New James Flood Building, Market and Powell streets, on the at the Baldwin hotel, burned ago, stood it site eight of years better Market than other big structure on 'street. any There is a little damage to the office of the Western National the ground, but its vaults even warm. are bank not on The the vaults fire were had opened on Friday, after passed that part of the city. Everywas all right and the time lock for Monday. The was thing set vaults re- of the Mercantile Trust company are ported safe. The same seems true of Deposit The Pacific Mutual ny. the California Trust Life building compa- buildand the Italian Marine bank ing are total losses, but the directors of the Italian bank say that they are not afraid of the condition of the vaults. About the same thing may be said of the Germania Savings bank and the San Francisco Savings Union, next door, on Kearney street. On Saturday afternon there were two conferences of Savings Bank Representatives. at the home of John Martin. They discussed the amount of cash on hand and the amount of Eastern holdings immediately convertible. Monday at 10 o 'clock I will meet for morning ployees all instructions. bank Interna- emWill High, manager of the tional Banking corporation, removed amount of specie to Oakland in an under a on tail large Saturday of marines, automobile. command A de- of Lieut. Lang, accompanied him. He offered Gen. Funston an advance of cash until the government funds ar-


Article from Evening Star, April 26, 1906

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IN THE NORTHERN COUNTIES. Reports of the Damage Done by the Earthquake. SAN FRANCISCO, April 26.-News has just been received here of the damage done by the earthquake of April 18 in the northern counties of the state. In Lakeport, Lake county a severe shock was felt at 5:40 a.m. on that date, which did considerable damage. A large portion of the fire wall of the Lakeview Hotel crashed through the porches and brick annex. The two-story brick walls of Masonic Hail, in course of construction, were reduced to ruins. Several other brick blocks were cracked chimneys toppled over throughout the town and show windows of business houses for the full length of Main street were shattered. No one was injured The loss to the Masonic Hall is about $4,000. At Albion. Mendocino county, a heavy shock was felt at 5:26 a.m. on the morning of April 18. The Occidental Hotel is a wreck. All the big saw mills in this region are badly damaged. They will have to shut down for some time. So far as can be learned there were no lives Cost. At Anderson. in Shasta county, the earthquake occurred at 5:30 a.m. Chimneys tumbied down and windows, dishes and furniture of houses were demolished. There are many wide fissures in the- earth. Slides along the Southern Humboidt Lumber Company's rallroad line took place. The damage to the Southern Humboidt number Company's dam across Indian creek, will run into the thousands. Bankers' Row Organized. "Bankers' Row" is being organized on La Guna street, west of Lafayette Square. The Crocker-Woolworth National Bank, the Central Trust Company and the Mercantile Trust Company already have placed their cotton banners on residences overlooking the tented camps of the refugees in the square. This is a bringing together of those that have money (in vaults) and those who need it. The clearing house. representing the commercial banks, held their usual morning meeting yesterday. While the details are not completed, it has been arranged to pay depositors not exceeding $500 on their account. Each of the banks has had or will have considerable sums transferred to its credit by correspondents in London, Paris and New York. These transfers will be made to the mint on 5th street and the money will be available at that point. The form of procedure will be for the depositor to draw a check in the usual form. This will be Indorsed by the cashier or other officer of the bank, and the customer may present is and have it cashed at the mint. Superintendent of the Mint Leach has indicated his willingness to assist in carrying into effect this plan if furnished with a sufficient force of clerks. The bankers are waiting for the opening of their vaults, SQ that they may reach their books and papers. Checks and blanks which are yet to be printed will form necessary parts of the machinery it Is proposed to put into operation. Banks to Open at Same Time. It may be three weeks before the bankers make any of these preliminary payments. The executive committee of the savings banks met yesterday. Much satisfaction was expressed at the fact that all the vaults of these banks had been found to be in excellent condition. The savings banks will all open for business on the same day example. Oakland are payOver the commercial in the banks savings notice. set banks the The ing up to $30 without local savings banks say that it has been deter-


Article from Daily Press, April 27, 1906

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Article Text

10,000 ACRES BURNED IN THE FRISCO FIRE Within the Area Destroyed There Were More Than 100 Banks and Other Big Houses. 230,000 PERSONS ARE HOMELESS Many Great Works Though are Left Instact and There are Homes Be. longing to 150.000 Persons Still / Standing-Military Rule Relaxed and Visitors Flock to Ruins. (By Associate di Press.) SAN FRANCISCO. CAL. April 26An engineer states that the area devastated by .fire in San Francisco ap proximates 10,000 acres or about [if teen square miles. There are few cities in the world where so much valuable property is contained in an equal territory. Within this fifteen square miles. were nearly 100 banks. some of the fluest buildings in the world. thousands of mercantile and manufacturing establishments and more than 230.000 inhabitants. besides 40.000 transietants. Notwithstanding the enormous and widespread destruction the homes of 150,000 people are still standing and practically uninjured. Shipyards Not Destroyed. There still remains the great ship yards at the Potrero. the Pacific Mail docks. the stock yards at South San Francisco. the docks and manufac turies along the water front from Mission creek to Hunter's Point. the mint, the postoffice and a large retail district on Fillmore and Devisadero streets. The relief work has made rapid progress. 11 is now in the hands of the military authorities and has been perfected and systemized until the feeding and sheltering of the thous ands of hungry and homeless people is going on expeditiously. Scarcity of Sugar. Five hundred teams are hauling suij plies to the sixty odd relief depots today. There is still a scarcity of SUI gar and coffee and an urgent and pressing need for more blankets. cots. tents. owing to the unusual cold nights for this season of the year which now prevail. With the relaxation of the military law and abolishing of passes than ands of curiosity seekers were attracted from across the bay yesterday and today. hundreds gazed sadly upon the ruins of their homes and dug through the ashes for some treasured memento. Seattle Sends Volunteer Doctors. The steamer Buckman, of the Alaska line. in command of Captain L. B. Wood. arrived here late last night with volunteer physicians. Red Cross nurses. and a cargo of 2,200 tons of provisions and supplies for the homeless people of this city. The vessel made a record run from Seattle, but encountered off Cape Blanco a terrific sea which crew and passengers said was caused by a suba terranean eruption and which for time threatened to engulf the ship. Banks Open For Business. "Bankers' Row" is being organized on La Guna street. west of La Fay elle Square. The Crocker-Woolwort National Bank. the Central Trust Company and the Mercantile Trust Company, already have placed their cotton banners on residences overlooking the tented camps of the refugees in the square


Article from Los Angeles Herald, May 5, 1906

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BANKS READY TO OPEN SAFES Millions of Dollars Will Await San Francisco Depositors Next Monday Morning By Associated Press. SAN FRANCISCO, May 4.-The Crocker-Woolworth bank and the Union Trust and Mercantile Trust companies will open their safe deposit boxes on Monday morning next. These three banks are opposed to keeping their customers any longer in delay. The city treasury opened for business this morning at the Western National bank in the James Flood building. Conditions were normal in banking circles; there were no panics or long lines of persons waiting to withdraw money. Many of the banks claim that since they opened for business their deposits have exceeded their withdrawals. A prominent banker said today that he felt sure that before the end of the month all commercial banks would resume their regular banking business.