1135. Peoples Home Savings Bank (San Francisco, CA)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
July 27, 1891
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
76c309b8

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Books examined

Description

Multiple contemporaneous articles (27–29 Jul 1891) report a depositors' run triggered by sensational newspaper reports and an expected investigation by state bank commissioners. The run was met by the Pacific Bank furnishing coin; the institution remained open and commissioners declared it solvent. A later 1907 article notes the bank failed years later and was placed in receivership, but no suspension/closure is documented in the July 1891 coverage, so this episode is classified as run_only. I corrected minor OCR variants of the name (People's vs Peoples).

Events (1)
1. July 27, 1891 Run
Cause
Rumor Or Misinformation
Cause Details
Sensational newspaper articles alleging a special investigation by the State Bank Commissioners alarmed depositors and prompted withdrawals.
Measures
Pacific Bank furnished coin to meet withdrawals; bank remained open (kept open until 9 o'clock); paid depositors; later increased withdrawal limit to $300 and accepted ten days' notice for larger balances; commissioners examined books and declared bank solvent.
Newspaper Excerpt
A run began on the People's Home Savings bank this morning, and several thousand dollars were paid back to depositors.
Source
newspapers

Newspaper Articles (12)
1. July 27, 1891 Evening Capital Journal Salem, OR
Article from Evening Capital Journal, July 27, 1891

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repdent. or this in only theory. The report of the attempted americation is the talk of Paris and has oursed considerable indignation. Home people think this allege! attempt upon the president's life has some connection with the recent de fest of the French government in the ebansbere of deputies, with the Boulangist agitators, with AlsaceLorraine passport regulations, de bate and other sitular matters, but is would not be surpriéng if the whole matter turned out to be the work of a dangerous lunatic. LIGHTSING STRIKES A CHURCH GREENVILLE, Pa., July 27.terday morning while the Rev. J C. Sceeler was delivering a sermon in the United Presbyterian church, a sudden storm arose and the high steeple was struck and shattered by a bolt of lightoing. There wen over 300 people in the ebureb at the time, and a patie follow ed biel was only qualied by the pastor and eool headed men commanding that BO rush be made for the door. Many women screamed and fainted when a blinding flash was followed by the creaking of the steeple; but outside of several slight shocks BO 002 Wall injured. The congregation the joined in prayer and thanksgiving for the marvelous escape, and wa dismissed with a tremulous benediction. EARTHOUAKE IN EVANSVILLE, EVANSVILLE, Ind., July 27.-An earthquake shock was felt here last night, beginning at 8:28 and lasting several seconds. The motion was apparently from north to south Windows ratiled and building swayed perceptibly. Many people fled in fright into the streets, Every open store in the business center was quickly vacated, and the con gregations at all the churches rushed into the street without waiting for the benediction. There were serious panies at several churches, and at the First Baptist a number of child ren fell down the steps and were hurt, none fatally. Dispatches from Mount Vernon, Newburg and other southern Indiana and northern Kentucky points, state they experienced stronger earthquake shocks than those felt here. MARINE ACCIDENT. New HAVEN, July 27.-The Catemaran "Typhoon" having on board Jude Hugh Daily, his little niece, Capt. George Austin, Clarence Beebe and Rufus Shephard of this city, expsized on Long Island Sound last night. Captain Austin and the niece were rescued by a steamer It is thought the others are lost. The last seen of Judge Daily, Beebe and Shephard, they were elinging to the wreck, waves threatening to carry them under any moment. Judge Daily is one of the leading republican politicians of Connectieut, Shephard is a well known banker of New Haven and Beebe belonged to one of this city's best families. GOV. GILLINGHAM DEAD. WATERBURY, Vt., July 27.-ExGovernor Paul Dillingham died this morning. He was nearly 92 years old, a member of congress in 1844, and governor of Vermont in 1885 and 1867. INDICTED. NEW YORK, July 27.-Charles O'Connor Hennessy pleaded this morning to the indictment charging him with misdemeanor by the pub. lication in the Evening News of the details of the execution of Slocum and Smiley and others recently put to death by electricity at Sing Sing. Counsel handed up a demurrer claiming that the statute under which the indictment was found was unconsitutional, Inasmuch as It restrained the liberty of the press guaranteed to it by the constitution. RUN ON BANK. BA FRANCISCO, July 27.-A run has began on the People's Home Savings bank this morning and several thousand dollars was paid back to depositors. The bank commissioners have begun an investigation of the bank. According to its report OD July 1st the People's bank has # capital stock of $1,000,000 of which one third is paid up. There is due depositors who number about 8000, the sum of $100,000. Banks officers state the institution perfectly solvent. Two of the San Francisco's morning papers have directed attention at the bank for the past two days contending that the state bank examiners had not made proper examination of the bank affairs.

2. July 28, 1891 The Record-Union Sacramento, CA
Article from The Record-Union, July 28, 1891

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at once commence another action, and if Gage and Chute ever return to the State he would subpena them. RUN ON A BANK. Sensational Newspaper Article Causes Depositors to Become Alarmed. SAN FRANCISCO, July 27.-A run was made on the People's Home Savings Bank, at 805 Market street, to-day. It was caused by the publication of sensational repoets that a special investigation of the bank was to be made to-day by the Bank Commissioners. There is due depositors, who number about 8,000, the sum of $190,000, and it appears that some of them grew uneasy. The People's Home Savings Bank is backed by the Pacific Bank, which is as solid as a rock, having a surplus of $800,000 and over. This institution could lose that sum and then be even and solvent. Some of the numerous depositors, anticipating a rush, appeared before the door of the bank long before daylight. The State Bank Commissioners examined the condition of the bank, and their report shows the condition of the bank to be good. The Pacific Bank furnished enough coin to meet the run on the savings bank, and all depositors who applied for their money were paid. The bank was kept open until 9 o'clock, and during the day between ninety and one hundred thousand dollars were paid out to depositors. The total number of accounts.paid was nine hundred. Sixtythree new accounts and six thousand dollars in deposits were added to the business of the bank during the day.

3. July 28, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, July 28, 1891

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SCARED DEPOSITORS. Brief Run on the People's Savings Bank of San Francisco. SAN FRANCISCO, July 27.-A run began on the People's Home Savings bank this morning, and several thousand dollars were paid to depositors. Columbus Waterhouse is president oi the bank and B. o. Carr, secretary and manager. Dr. R. H. McDonald, president of the Pacific bank, is one of the directors. According to its report, July 1st, the People's bank had a capital stock of $1,000,000, of which one-third was paid up. There was due depositors, who numbered about eight thousand, $190,000. The bank's officers state that the institution ie perfectly solvent. Two of the San Francisco morning papers had directed attention to the bank in the past two days, contending that the State bank examiners had not made a proper examination of the bank's affairs. The state bank commissioners examined the condition of the bank today, and their report shows it to be good. The Pacific bank furnished enough coin to meet the run, and all the depositors who applied for their money were paid. The bank was kept open until 9 o'clock. During the day between $90,000 and $100,000 was paid out to depositors. The total number of accounts paid was 900, and 63 new accounts and $6000 in deposits was added to the business of the bank during the day.

4. July 28, 1891 Evening Journal Wilmington, DE
Article from Evening Journal, July 28, 1891

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A Run on the Bank. SAN FRÁNCISCO, July 28.-A run on the People's Home Savings bank was begun by the depositors and several thousand dollars were paid out. An investigation of the bank's affairs has been begun by the bank commissioners. The capital stock is $1,000,000, of which one-third is paid up. There is due depositors, who number 8,000, the sum of $100,090. The bank's officers declare that the bank is solvent.

5. July 28, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 28, 1891

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RUN ON A SAN FRANCISCO BANK. The People's Savings Pays $100,000 to Depositors-A Texas Institution Fails. SAN FRANCISCO, July 27.-A run began on the People's Home Savings bank this morning, and several thousand dollars were paid back to depositors. The bank commissioners have begun an investigation of the bank's affairs. Columbus Waterhouse is president of the bank and B. O. Carr secretary and manager. Dr. R. H. McDonald, president of the Pacific bank, is one of the directors. According to its report on July 1, the People's bank has a capital stock of $1,000,000, of which one-third is paid up. There is due the depositors. who number about 8,000, the sum of $190,000. The bank's officers state that the institution is perfectly solvent. Two of the San Francisco morning papers have directed attention to the bank in the past two days, contending that the state bank examiners had not made a proper examination of the bank's affairs. The state bank commissioners examined the condition of the People's Savings bank today, and their report shows the condition of the bank to be good. The Pacific bank furnished enough coin to meet the run on the savings bank today, and all depositors who applied for their money were paid. The bank was kept open until 9 o'clock, and during the day between $90,000 and $100,000 were paid out to depositors. The total number of accounts paid was 900. Sixty-three new accounts and $6,000 in deposits were added to the business of the bank during the day. NATCHITOCHES, La., July 27.-The Bank of Natchitoches has suspended. The assets are $70,000, liabilities, $27,000. PHILADELPHIA, July 27. - An evening paper asserts that Bank Examiner Drew has forwarded to the secretary of the treasury a lengthy statement showing that he kept the comptroller of the currency fully advised of the condition of the Keystone bank, and before the run in December called attention to its weak condition.

6. July 28, 1891 New-York Tribune New York, NY
Article from New-York Tribune, July 28, 1891

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RUN ON A SAN FRANCISCO BANK. San Francisco, July 27.-A run began on the People's Home Savings Bank to-day, and several thousand dollars was paid back to depositors. The Bank Commissioners have begun an examination of the bank's affairs. Columbus Waterhouse is president of the institution and B. O. Carr secretary and manager. Dr. R. H. McDonald, president of the Pacific Bank, is one of the directors. According to Its report July 1, the People's Bank has a capital stock of $1,000,000, of which onethird is paid up. There is due depositors, who number about 8,000, the sum of $100,030. The bank's officers state that the institution is perfectly solvent. Two San Francisco morning papers have directed attention to the bank the last two days, contending that the State bank examiners had not made a proper examination of its affairs.

7. July 28, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 28, 1891

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George Faylor's Suit Dismissed. SAN FRANCISCO, July 27.-The suit of George Faylor against twenty-four state senators has ended. Faylor's counsel wanted further time to look up missing witnesses. Judge Wallace denied the motion, saying there was a limit to the prospect of a speedy finding of witnesses and the case could not be indefinitely continued. Counsel thereupon agreed to non-suit. A run began upon the People's Home Savings bank and several thousand dollars

8. July 29, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 29, 1891

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BUSINESS FAILURES. The Montgomery Bank Wreck-A Denver Real Estate Syndicate Collapses. MONTGOMERY, Ala., July 28.-The assignees of Moses' bank, which assigned July 6, have filed a schedule of liabilities and assets, placing the former at $100,000 and the latter at $200,000. DENVER, July 28. The Berkeley Land syndicate has made an assignment. The syndicate owned 1,300 acres of land purchased from J. Brisbane Walker, of New York. Inability to collect on sales and light business caused the failure, which was totally unexpected, as it was thought to be very strong financially. The liabilities are $400,000; assets $600,000. The company had a capital stock of $1,000,000. During the past year the company has built scores of houses. Walker has a claim on the land for $200,000. The business will be continued by Assignee Valentine, who is the president of the company. It is expected that the company will be put on its feet again. ATLANTA, July 28.-Stephen A. Ryan, the young dry goods merchant who failed some time ago for $200,000, is behind the prison bars. Judge Gober sent him there for contempt of court. The judge says Ryan has cash assets in his possession to the amount of $120,000, which must be handed over to the creditors. The order created a profound sensation. Ryan declares he has no cash assets to turn over. SAN FRANCISCO, July 28.-The People's Home Savings bank, on which a run was made yesterday, continued business as usual today, only a few depositors making application to withdraw their deposits. The bank commissioners are still conducting their investigation, but Commissioner Geberling, in an interview this morning, stated that they had proceeded far enough to enable them to express the opinion hat the bank was sound, nothing having been found to impeach its credit.

9. July 29, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, July 29, 1891

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STOPPED THE RUN. Depositors Reassured by the Abundance of Coin. Business Comparatively Quiet at the People's Home Savings Bank - The Bank Commissioners Satisfied. Whatever uncertainty regarding the solvency of the People's Home Savings Bank prevailed in the minds of depositors on Monday has apparently been dispelled by the prompt action of the officials in facilitating the demands of those customers who require gold in return for the surrender of their pass-books. When the bank opened yesterday morning there were not more than a dozen depositors on hand, and these transacted their business quietly and withdrew. No tickets of admission were issued, there was no crowd and no excitement. The greatest number of people in the bank at any one time yesterday was twenty-six, exclusive of officials. Appearances in the banking office were similar to those of an ordinarily busy day. Before orening the doors yesterday morning, the Directors decided to increase the withdrawal limit to $300 accepting the usual ten days' notice for unpaid balances in excess of that amount. One paying teller was able to transact all business with reasonable rapidity, and after 2 o'clock so few customers appeared that it was decided to close the doors at 3 o'clock as usual. WITHDRAWALS AND DEPOSITS. The total number of depositors who visited the paying teller's desk yesterday was 267, of which 167 represented savings book accounts. The aggregate amount withdrawn was $43,000, of which $3000 was from commercial accounts. Against these amounts, the bank officials reported the opening of 29 new savings accounts and 7 commercial accounts and the issue of 5 term deposit receipts. The deposits yesterday aggregated $9000, and at the close of business the cash on band in gold and silver coin amounted to $291,000, SO that $350,000 in coin must have been deposited in the vaults of the People's Home since the commencement of business on Monday morning. All the bank officials were congratulating each other yesterday that the backbone of the run had been broken. They had worked at their posts upward of twelve hours on Monday, and after striking a balance in the evening, the employes were entertained at a quiet supper and each was presented with a gold coin by the management in recognition of his arduous services. SATISFIED OF THE SOLVENCY. Bank Commissioners Gerberding and Knight concluded their Investigations into the condition of the bank yesterday afternoon, and reiterated their previous declarations regarding its solvency. Commissioner Gerberding stated that all the investments of the bank had been carefully examined, and that all had been approved. No cancellation of the securities held will be required, and the Commissioners are satistied that the bank is thoroughly solvent. This in effect will be the report submitted to the Attorney-Generat. When asked whether there had been any technical violation of the law in the nature of the loans made by the bank to corporations in which Directors or stockhoiders of the bank are interested, the Commissioners declined to express an opinion regarding that point, on the ground that they are not lawyers, and that it would be for the Attorney-General, if he should deem it necessary, to pass upon the legality of these transactions.

10. August 4, 1891 Cherokee Scout Murphy, NC
Article from Cherokee Scout, August 4, 1891

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THROUGH DIXIE. NEWS OF THE SOUTH BRIEFLY PARAGRAPHED Forming an Epitome of Daily Happenings Here and There. The Berkely land syndicate of Denver, Col., made an assignment Tuesday. Lia.bilities, $400,000; assets, $600,000. A Memphis, Tenn., dispatch says: Proceedings of the motion for a new trial in the King murder case were resumad Monday morning in the criminal court, A small boiler used in the repair shops of the Hill City oil mill, at Vick-burg, Miss., exploded Tuesday, fatally injuring Engineer Albert Spier and Fireman Albert Fisher. Last Saturday a battle between nogroes and Mailan workmen OR the Norfolk: and Western road, in Logan county, West Virginia, was fought, in which two Italians and one' negro were killed, and several wounded. Four convicts in the military prison at Fort Leavenworth escaped Tuesday by tunneling under the prison. (One of the four Was Baseball Pitcher Lucas, who made his third successful atte. upt to escape since his incarceration some months ago. Judge Cassady, of the Anniston, Ala city court, OD Monday, appointed Capt.. A. P. Agee receiver of the defunct Anpiston Saving and Safe Deposit Company. This was done at the request of the depositors, who held two or three meetings ecently to devise some way for obtaming oubts due them. Friday night the Citizens' bank of Jefferson, Texas, made an assignment. The bank closed business Saturday morn ing, not having funds to meet their creditors. Liabilities, $100,000 assets, $125,000. It is believed the depositors and creditors will receive the full amount of deposits and the bank will be able to pay. all its indebtedness. A Raleigh dispatch says: Dr. Henry V. Wilson, director of the United States fish commission, stationed at Woods Hall, Mass., was, on Monday, elected professor of biology in the University of North Carolina. He will be scientific expert to the North Carolina shell fish commission. His election makes я valuable addition to the faculty of the University of North Carolina. A dispatch of Friday from Sacramento, Gal., says: State Controller Colgan has refused to draw his warrant for the amount due as office rent for California's world's fair commission. He doubts the constitutionality of the legis lative act appropriating $300,000 for the California exhibit at the world's fair, and W ishes to have the question decided by the su premo court before he pays out any money. A run begans ON the People's Horne Savings bank at San Francisco, Monday, and several thousand dollars was paid back to the depositors. The bank commi sioners have begun an investigation of the bank's affairs, According to its report July 6th. the People's bank has a capital stock of 000,000, of which one-third is paid up. There is due depositors, who number about eig ut thousand, the sum of $100,000. The bank officers state that the institution is per-

11. August 6, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, August 6, 1891

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THE San Francisco News-Letter says that the lace run on the People's Home Savings bank, of San Francisco, was engineered by Col. J. H. Woodard, at present connected with our esteemed contemporary, the Times. According to that journal Woodard was sent up to San Francisco on mischief intent by the Los Angeles Cable company. As the News-Letter's story goes, "Jayhawker" put the "comether" on the Examiner and Chronicle, and the bank commissioners as a result made a very thorough investigation, with the very apparent result of a boomerang to Wood-

12. December 14, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, December 14, 1907

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VICTIMS OF FORMER BANKING DISASTER ARE AGAIN LOSERS By Associated Press. SAN FRANCISCO, Dec. 13.-Among the many to lose their savings in the crash of the California Safe Deposit and Trust company were people who suffered a similar misfortune when Dr. H. R. McDonald's bank, the People's Home Savings bank, failed over fifteen years ago. The bank was placed in the hands of a receiver and the depositors were slowly receiving the return of their money. Over $7000 of such funds, being held until a dividend came due, was on deposit with the California Safe Deposit and Trust company and the claimants against the old bank can now only receive their pro rata in the settlement of the safe deposit company's affairs.