National Bank of the Pacific - San Francisco, CA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 7894
Charter Number: 7894
Start Date: April 18, 1906
Location: San Francisco, California (37.780, -122.419)

Metadata

Model: gpt-5-mini
Short Digest: 0fbb1fb1

Response Measures

None

Description

The articles describe the April 1906 earthquake/fire that wrecked the Market Street premises and made vaults inaccessible (temporary closure/suspension). Banks later reopened for unrestricted business (by May 23), with no evidence of a depositor run — withdrawals were limited and mainly for rebuilding. Dates: earthquake/fire April 18, 1906 is the initiating local shock; newspapers dated April 24 and May 23/24 report suspension and reopening. OCR errors corrected in snippets (e.g., National bank of the Pacific referenced as housed on Market Street).

Events (4)

1. August 30, 1905 Chartered

Source: historical_nic

2. April 18, 1906 Suspension

Cause: Local Shock
Cause Details: April 1906 San Francisco earthquake and subsequent fire damaged the bank's building and made vaults inaccessible, forcing temporary closure.
Newspaper Excerpt: The ground floor, where the National bank of the Pacific was housed, is a complete wreck. It is not possible to get at their vaults owing to the wreckage.
Source: newspapers

3. May 23, 1906 Reopening

Newspaper Excerpt: At 9 o'clock this morning commercial banks opened their doors for the transaction of regular business... the National Bank of the Pacific. Deposits at the Mutual Savings bank were comparatively small... All demands, however, were paid in full.
Source: newspapers

4. October 1, 1909 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (4)

1. April 24, 1906 The Herald and News Newberry, SC

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-

2. April 24, 1906 The Herald and News Newberry, SC

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we feel certain that the people will act with the banks and not try to make a run. It was Dangerous Walking in many parts of the financial districts, for the walls and pavements are very hot and one stood in danger of scorching off his shoes. The heat between the buildings is stifling. But the fire in this part is dead. The building of the International Builda The ing and vaults Loan are association bulged, but is the officials wreck. say that the securities are safe. The vaults of the London, Paris and American bank are all right. When the underwriters take stock on this fire they will probably find that it was not nearly so hot as the Baltimore, Chicago and Boston fires. It would damage a building taking a floor or two, and pass on. The people lay this to the lazy burning of the red wood. On the other hand there were centers of the fire whirlwind where everything seemed to be fused, melted and ruined. 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 standing, but the building is a loss. The Examiner building is gone. The steel frames of the Call building, the 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, where the National bank of the Pacific was housed, is a complete wreck. It is not possible to get at their vaults owing to the wreckage. The Parrott building, containing the Emporium, the largest department store in the west, is gone. The front wall and a part of a side wall are gone, the rest are down. This contained the quarters of the supreme court of California and the best library on the coast. The records and the library are destroyed. Between these big Market street buildings were a lot of small and old 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, at Market and Powell streets, on the site of the Baldwin hotel, burned eight years ago, stood it better than any other big structure on Market !street. There is a little damage to the office of the Western National bank on the ground, but its vaults are not even warm. The vaults were opened on Friday, after the fire had Everypassed that all part right of and the the city. time thing was lock was set for Monday. The vaults of the Mercantile Trust company are reported safe. The same seems true of the California Deposit Trust company. The Pacific Mutual Life building and the Italian Marine bank building 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 morning at 10 o'clock all bank employees will meet for instructions. Will High, manager of the International Banking corporation, removed a large amount of specie to Oakland on Saturday in an automobile. A detail of marines, under command of

3. May 23, 1906 The Spokane Press Spokane, WA

Article from The Spokane Press, May 23, 1906

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People Stand In Line To Take Their Money Although No Apprehension Is Felt by them. o'clock and at 9 it extended down SAN FRANCISCO, May 23.Jones street and then down Golden This morning at 9 o'clock commerGate as far as Market and back cial banks opened their doors for again towards Jones. Old women, the transaction of regular business young clerks, begrimed teamsters unhampered by clearing house reand pretty stenographers, were strictions. Gold in plenty filled the vaults and there is as much money there, all as cheerful as a crowd of theatergoers waiting their turn at in the banks today as ever in the the box office. history of San Francisco. The A young fellow in working stability of the financial situation clothes stepped out of line to give is such that there is not the slighthis place to an aged woman in a est evidence of a money panic and every bank in the city is now in shawl who tightly hugged to her breast her little yellow covered a position to meet all obligations without undue strain. book, and others followed suit, and soon the woman was far up the While the official date for the formal opening of saving banks is line. Many brought lunches and next Monday, many savings insti- stools prepared for a long wait. tutions opened this morning and When the doors opened the first 10 mutual savings banks opened for persons were tolled oti and allowed unrestricted business with $20,000,- to enter and two paying tellers with their money benches heaped 000 in money and active securities in the vaults. with gold quickly passed out coin, The California Safe Deposit & and but few withdrew total deTrust company opened in its old posits. A few large withdrawals were quarters, corner of California and Montgomery streets. This bank is made, but mostly by persons who needed funds for building purposes. the one to first have temporary Most of the depositors merely quarters completed. The Humboldt wanted money for present pressbank opens tomorrow morning. About 30 percent of the Huming needs. boldt's loans were in the burned Meantime two receiving tellers district and the bank announced it were taking care of those who wished to make deposits. will return all insurance money Officials of the bank predict busito borrowers for rebuilding purposes. ness will resume with normal conWith no more rush or excitement ditions by tomorrow. At Market street the line at the than was usuual attending settling day before the fire the Hiberian paying teller's window was smaller bank, the city's largest saving in- than at the receiving teller's, and atitution, threw open its doors at the same was true of the Western 9 o'clock this morning. Every look National bank and the National Bank of the Pacific. Deposits at and every action of hundreds in the Mutual Savings bank were line before the doors opened betokened confidence. comparatively small, and judging The line began to form at 6:45 from the line at the paying teller's

4. May 24, 1906 East Oregonian : E.O Pendleton, OR

Article from East Oregonian : E.O, May 24, 1906

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San Francisco May 24.-At a secret meeting of the board of fire underwriters held at Oakland, definite action was taken in the matter of fixing insurance rate for San Francisco. It was decided to double all rates. Some members favored fixing different rates for the burned and unburned sections, but a flat rate for the entire city was finally decided upon and all special rates abrogated. The lines of depositors around the savings banks are materially smaller today, and more deposits were made than withdrawals. As a result of the opening of banks for unrestricted business building operations are given a great - impetus. The construction of scores of new frame buildings begun this morning. Banks All on Solid Ground. At the Market Street bank the line at the paying teller's window was smaller than at the receiving teller's The same was true at the Western National bank and National Bank of the Pacific. Deposits at the Mutual Savings bank were comparatively small, and judging from the line at the paying teller's window. the heaviest run of any of the downtown banks was made there. All demands, however. were paid in full. At the Crocker Woolworth bank over $50,000 in gold coin was paid in today before 11 o'clock, while the withdrawals were very small. At the Union Trust company the deposits exceeded the withdrawals tenfold. Protest Cancelling Bonds. The lobby committee on special session of the legislature today decided against the proposition for the legislature to extinguish $177,000,000 worth of unsold San Francisco bonds. Assurances are received from financiers that the present outstanding bonds are saleable. and the money is needed im-