People's Bank - San Francisco, CA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 4, 1899
Location: San Francisco, California (37.780, -122.419)

Metadata

Model: gpt-5-mini
Short Digest: 52ea2ba3

Response Measures

None

Description

Article alleges manipulation and that a receiver was to be appointed for People's Bank after it was wrecked by Moses Sherman. The piece does not describe a depositor run or an explicit prior suspension, but it clearly discusses appointment of a receiver (permanent closure). I classify as suspension_closure because the bank ends up with a receiver and closed; the text implies malfeasance led to failure. Date inferred from newspaper: early January 1899.

Events (1)

1. January 4, 1899 Receivership

Newspaper Excerpt: Moses Sherman, the arch manipulator who wrecked the People's Bank. to be used in influencing Judge Hebbard in appointing a receiver for the bank who would be satisfactory to the crooked plans of the clique that had banded together to rob it.
Source: newspapers

Newspaper Articles (1)

1. January 5, 1899 The San Francisco Call San Francisco, CA

Article from The San Francisco Call, January 5, 1899

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Article Text

BURNS SURROUNDED BY AN ODOROUS GANG A Motley Crew of Tenderloin Politicians Working for the Man of Unsavory Record. CALL HEADQUARTERS, SACRAMENTO, Jan 4.- The men who are out to elect Dan Burns Senator. no matter what the moral penalty or financial cost, are here in all their unique and nauseating variety. They adorn every chair and pillar of the Golden Eagle office and adjacent bar rooms, and every train is bringing others. If it may be judged from the motley, odorous gang that has foregathered here during this past week the dives and deadfalls of San Francisco, where cheap politicians wax lean through the months on occasional political-pickings, are deserted by their habitues. The metropolis has debouched the greater part of its unhealthiest element, pass and good Herrin dollar laden, on hitherbound trains, and the result is a fair example of what the result would be should the daily diminishing chances of El Alcalde be successful. It is not fair to say, though, that all of the Burns adherents here are of the lower order. There are those here who are in the fight purely as a matter of conscience for the liquidation of past political debts, though just what political debt is due Mr. Burns from James Alva Watt remains yet to transpire. It may be that the obligation is purely anticipatory, but the fact remains that James Alva is here and in the fight to the finish, Mr. Watt is one of Mr. Burns' workers. It was Mr. Watt who was accused of having received $4000 from Moses Sherman, the arch manipulator who wrecked the People's Bank. to be used in influencing Judge Hebbard in appointing a receiver for the bank who would be satisfactory to the crooked plans of the clique that had banded together to rob it. That story, however, has been since upset by Mr. Watt's simple denial. Coworking with him are Mr. KellyMartin Kelly-and Major McLaughlin. The greasy Kelly figure is one too familiar in politics and the Burns ranks to demand explanation in the present instance. but in view of the fact that only two weeks ago Major McLaughlin is said to have remarked in a Santa Cruz bar room that the candidacy of Dan Burns for the United States Senate was enough to make a decent Republican throw up his hands and anything else he might have about his person leads to the logical conclusion that the chairman of the State Central Committee has thrown up his self-