East New York Savings Bank - East New York, NY

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: August 25, 1884
Location: East New York, New York (40.667, -73.882)

Metadata

Model: gpt-5-mini
Short Digest: 68bd578a8032ff40

Response Measures

None

Description

Article (New-York Tribune, 1884-08-27) describes a brief 'run' when the bank opened for business; bank paid depositors and remained open. Cause appears to be a rumor/startled crowd (officers even offered $250 for the person who started the run). No suspension or receivership reported.

Events (1)

1. August 25, 1884 Run

Cause: Rumor Or Misinformation
Cause Details: A run began upon opening day apparently started by someone (officers offered $250 for the person who started the run); no bank insolvency reported.
Measures: Officers began paying out deposits promptly; offered $250 reward for person who started the run; moved to larger quarters noted.
Newspaper Excerpt: When the East-New York (L. I.) Savings Bank opened for business Monday treasurer Charles J. Hohe found several hundred men, women and children ... besieging the doors. He sent for the other officers of the bank, when he learned that a run had started, and they began paying out as fast as deposits were called for.
Source: newspapers

Newspaper Articles (1)

1. August 27, 1884 New-York Tribune New York, NY

Article from New-York Tribune, August 27, 1884

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Article Text

SLIGHT RUNS ON A SAVINGS BANK. When the East New-York (L. I.) Savings Bank opened for business Monday reasurer Charles J. Hohe found several hundred men, women and children-mostly German-besieging the doors. He sent for the other officers of the bank, when he learned that a run had started, and they began paying out as fast as deposits were called for. Many, when they found they could get their money, did not want it. One old man, who had deposited his money a week previous, intending to draw it on Monday to pay for a house, could not get to the desk in time to draw it to close the bargain. The last sworn statement of the bank showed that there was $35,000 cash on hand; stock bonds, $230,917 77; bonds and mortgages, $110,387 56, and a surplus of $30,908 16. The officers have offered $250 for the person who started the run. The bank isconsidered a safe one, The banking days are Monday, Wednesday and Friday. The office was removed yesterday to more commodious quarters at Atlantic and Van Sicklenaves. J. Wycoft Van Sicklen is president, and George W. Palmer, secretary.