Nevada Bank - San Francisco, CA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: April 26, 1906
Location: San Francisco, California (37.780, -122.419)

Metadata

Model: gpt-5-mini
Short Digest: ebd1dc0a

Response Measures

None

Description

Article (dated 1906-04-26) describes banks in San Francisco operating from temporary locations after the earthquake and fire; banking machinery and books remained locked in vaults and the Clearing House arranged limited proportional payments. This indicates a temporary suspension of normal operations due to the earthquake (local shock) with arrangements to resume — i.e., suspension with reopening. No bank run is described.

Events (1)

1. April 26, 1906 Suspension

Cause: Local Shock
Cause Details: San Francisco earthquake and fire disrupted normal banking operations; vaults and records inaccessible, prompting restricted/proportional payouts and temporary locations.
Newspaper Excerpt: The banks have both a name and a local habitation. They have found a row of private residences on Laguna street ... the Nevada and all the others are doing business within. ... the papers and books, the blank checks, and all the rest of the machinery of banking remain locked up in the vaults, cooling off until such time as the bankers dare open them.
Source: newspapers

Newspaper Articles (1)

1. April 27, 1906 The Sun New York, NY

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Article Text

Buildings Stand Water Supply Being Conserved-Donkey Engines Arrive to Be Used in Clearing Up the Ruins -General Good Health Still Prevails. OAKLAND, Cal., April 26. Conditions in San Francisco are still looking up. The restriction on entering the city is now practically off. Entrance so far has been by pass from Gov. Pardee. Since Gen. Greely asked that access be made free again the passes have been given out generally to all who appeared respectable. By to-morrow the electric cars will be running on Market street again. The banks have both a name and a local habi- tation. They have found a row of private residences on Laguna street, a thorough- fare heretofore a stranger to commerce, and from the windows of these houses flags proclaim that the Crocker-Woolworth, the Nevada and all the others are doing business within. It is certain that there will be more than a little change in the character of the streets. Van Ness avenue has been what Firth avenue is to New York or Commonwealth avenue to Boston. Van Ness avenue is clear of its fine houses now; most of them were blown up in the last stand which with the help of the west wind stopped the fire; but it is crowded with temporary stores and this widest street of San Francisco may remain an uptown business street. It will depend largely upon the faithful- ness with which the Burnham plans are carried out. The Clearing House, representing the local commercial banks, has been meeting every day. To-day they arranged a plan for paying off depositors for temporary needs on a proportionate scale, each with- drawal to be not more than $500. Cor- respondents of the several banks in Lon- don, Paris and New York will transfer certain sums to their credit. The Mint will be the cashier's window for all the banks. The checks will be made out in the usual form, indorsed by the cashier, and taken to the Mint, where they will be cashed. Superintendent of the Mint Leach says that he will cooperate in this as soon as he can get enough clerks. In bank clerks, as in every other line of expert employment, there is a shortage. Thess men are busy, or have been, making their families comfortable. The papers and books, the blank checks, and all the rest of the machinery of banking remain locked up in the vaults, cooling off until such time as the bankers dare open them. WILLING TO HELP BANKS OUT. The State Bankers' Association assembled in Oakland this afternoon. It adopted resolutions of confidence in the banks of San Francisco, and pledged cooperation and support. Before this meeting there were some roars from the interior about the extension of the period of legal holidays. Farmers want money about this time of the year, and as they have always regarded their deposits in the San Francisco banks as available, it was thought that they might file a strong protest. But the representatives of the interior banks were all in favor of helping out the San Francisco banks, even at some ex- pense and trouble to the interior. From the steady deposits in the Oakland banks yesterday it appears that the public has every confidence in the banks. # OAKLAND LOOKING FOR A BOOM. Oakland expects a boom. With the heavy shipment of materials, which must begin with the rebuilding, property close to the Oakland waterfront will be val- uable; even in this time there has been a rise in the value of such property. # MILITIA STILL ON DUTY. Still the National Guard is not withdrawn, although requests are pouring in on Gov. Pardee. Perhaps when the 2,500 Regulars ordered here by the War Department ar- rives in San Francisco, the city may see the last of the rather inefficient National Guards- men for a time. It came out to-day that Col. I. W. Simons, father of one of the three men under arrest for killing H. C. Tilden, had a signed permission for his son and himself to act as volunteer patrolmen, signed by Col. Walter Kelly, commander of the First California. Col. Kelly admits this. He says in a formal statement that he needed the men and that on the night Tilden was killed he had given orders to watch for an auto- mobile which had been carrying looters about the city. While the Colonel's ex- planation is a reasonable defence, the knowl- edge that he countenanced these vigilantes has raised still more protest against the National Guard. However, Gov. Pardee seems to like the guard. # PARDEE DEFENDS STATE TROOPS. The clash of authority between Gov. Pardee on one side and the heads of com- bined relief organizations, the Mayor of the city, the head of the Red Cross and the army officers on the other was brought to a head to-day at a conference between all those concerned. It was the first meeting of the legislative committee which the Governor had attended. The Governor spoke highly in favor of the National Guard and referred to the