14808. Yonkers Savings Bank (Yonkers, NY)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
October 20, 1891
Location
Yonkers, New York (40.931, -73.899)

Metadata

Model
gpt-5-mini
Short Digest
96e68835046860b9

Response Measures

None

Description

Newspaper accounts (Oct 20–22, 1891) report a depositors' run on Yonkers Savings Bank triggered by a false rumor of insolvency. Officers denied trouble, the bank paid out withdrawals (about $200,000) and confidence was soon restored; the bank remained open.

Events (1)
1. October 20, 1891 Run
Cause
Rumor Or Misinformation
Cause Details
A false rumor circulated that the bank was in financial trouble and about to go into bankruptcy; some accounts specify a false rumor originating at a factory.
Random Run
Yes
Random Run Snippet
run started by a false rumor; confidence restored and money returned
Measures
Officers publicly denied the report and paid out withdrawals (kept bank open past usual hours); paid depositors as requested and accepted new deposits to restore confidence.
Newspaper Excerpt
There is much excitement here tonight over a run on the Yonkers Savings Bank made this afternoon on account of a report that the bank was in financial trouble ... 2,000 persons drew out their deposits, amounting to $200,000.
Source
newspapers

Newspaper Articles (10)
1. October 21, 1891 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, October 21, 1891

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Article Text

RUN ON THE BANK. Two Thousand People Take Out $200,000 from One Bank YONKERS, Oct. 20.-There is much exeitement here tonight over a run on the Yonkers Savings Bank made this afternoon on account of n report that the bank was is financial trouble and about to go into bankruptey. The officers of the bank denied the report, but 2000 persons drew out their deposits, amounting to $200,000. Robert P. Getty, president of the bank, tonight deuied that the bank was in financial trouble. and stated that it had money money to pay all demands.

2. October 21, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, October 21, 1891

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Article Text

Run on a Bank. YONKERS (N. Y.), Oct. 20.-Thereis much excitement in the city to-night over a run on the Yonkers Savings Bank made this afternoon. A report was started that the bank was in financial trouble, and a rush was made by many depositors, and although the officers promptly denied the report, at least two thousand persons drew out their deposits, amounting to about $200,000.

3. October 21, 1891 The Evening Herald Shenandoah, PA
Article from The Evening Herald, October 21, 1891

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Article Text

Run on a Bank. YONKERS, N. Y., Oct. 21.-A run began on the Yonkers Savings Bank yesterday, caused, it was stated, by a rumor that the institution was to go into bankruptcy. At the close of business nearly 2,000 depositors had drawn out their money, amounting to $200,000. The officers of the bank say the concern Is perfectly solvent and will promptly pay all demands.

4. October 21, 1891 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, October 21, 1891

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Article Text

Run on a Bank. YONKERS, N. Y., Oct. 21.-A run began on the Yonkers Savings Bank yesterday, caused, it was stated, by a rumor that the institution was to go into bankruptcy. At the close of business nearly 2,000 depositors had drawn out their money, amounting to $200,000. The officers of the bank say the concern is perfectly solvent and will promptly pay all demands.

5. October 21, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, October 21, 1891

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Article Text

SCARED DEPOSITORS. Two Thousand People Draw Their Money From a Bank. Yonkers, N. Y., Oct. 20.-There is much excitement in this city to-night over a run on the Yonkers Savings bank to-day. A report was started that the bank was in financial trouble, and was about to go into bankruptey. A rush was made by many of the depositors for the bank, and although the officers of the institution promptly denied the report, at least 2,000 people drew out their deposits, amounting to about $200,000. The bank had to keep open long after the usual closing time to pay off th e excited depositors. Robert P. Getty, one of the leading citizens of Yonkers: and one of the largest property owners of the city, is president of the bank. In an interview to-night he positively denied that the bank was in financial trouble, and stated that the bank was perfectly solvent and had enough money to pay all demands.

6. October 22, 1891 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, October 22, 1891

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Article Text

THE RUN SOON OVER. Started by a False Rumor, the Money Restored Confidence. YONKERS N. Y., Oct. 21.-The run bich began last night on the Yonkers Savings Bank, started by a false rum 1. did not last very long. This morning & line of depositors demanded their money which was paid out as fast as they called for it and confidence was soon restored, and a number of deposis made. At 11 o'clock the rua was entirely over.

7. October 22, 1891 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, October 22, 1891

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Article Text

Boiled Down from the Wires. Glover's bagging-factory. New Orleans, was partly burned yesterday, Loss, $20,060; fully insured. The United States steamer Thetis has arrived at San Francisco from Universal. The vessel warned thirty sealers out of Bering Sea, but made no seizures. The Mohican was to have left three days after the departure of the Thetts and will probably arrive at San Francisco soon. The run which began Tuesday on the Yonkers (N. Y.) Savings Bank, started by a false rumor in the Waring hat-factory that the bank had failed, was ended by 11 o'clock yesterday morning. A good many depositors withdrew their money early, but others deposited and the ex. eitement ceased. Lenius E. Worcester died suddenly of heartdisease in Whitehall, III., Tuesday: aged eighty years. He was a member of the State Constitutional Convention of 1847, and filled the unexpired electoral term of General John M. Palmer in 1857. He was one of the five Democrats in the Senate who voted to ratify Lincoln's emancipation proclamation. The warehouse of Bardwell, Robinson & Co., sash, door, and blind manufacturers, Twentyfifth avenue, north, and Second street, Minnespolls, Minn., was burned to the ground between 1 and 3:30 yesterday morning. Loss, about $100,000 the insurance about half that. The company recently secured an immense contract for furnishing sash, doors, and blinds for the Columbian Exposition in Chicago, and most of this material, which had been duished and was ready for shipment, was stored on the upper floors of the warehouse and is a total loss.

8. October 22, 1891 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, October 22, 1891

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Article Text

Bank Run Ended. YONKERS, N. Y., Oct 22.-The run which began on the Yonkers Savings bank, having been started by a false rumor, did not last very long. Yesterday there was a line of depositors on hand who demanded their money, which was paid out as fast as they called for it, and confidence was soon restored. A number of de. posits were made, and the run is entirely over.

9. October 22, 1891 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, October 22, 1891

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Article Text

Run on a Savings Bank. YONKERS, N. Y., October 20.-There is much excitement in this city to-night over & run on the Yonkers Savings Bank made this afternoon. A report was started that the bank was in financial trouble and was about to go into bankruptcy. A rush was made by many of the depositors for the oank, and although the officers of the institution promptly denied the report at least two thousand persons drew out their deposits, amounting to about $200,000. The bank had to keep open long after the usual closing time to pay off the excited depositors. Robert P. Getty, one of the leading citizens of Yonkers and one of the largest property-owners in the city, is president of the bank. In an interview to-night he positively denied that the bank was in financial trouble, and stated that the institution was perfectly solvent and had enough money to pay all demands.

10. October 23, 1891 The Kinsley Graphic Kinsley, KS
Article from The Kinsley Graphic, October 23, 1891

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Article Text

THE LATEST. SECRETARY NOBLE has ordered all the surveying corps and alloting agents in the Cheyenne and Arapahoe reservation to disband until congress makes further appropriations. This will delay the opening of these lands one year. Ex-SENATOR INGALLS addressed a large audience in Tremont temple, Boston. Gen. B. F. Butler introduced him. A SPECIAL cable dispatch from Managua, Nicaragua, says Don Fernando Guzman, the ex-president of the republic, is dead. His death is generally regretted. THE French senate tariff committee decided in favor of a proposition to impose a duty of 25 francs per 100 kilos on salted meats of all kinds, including pork, ham and bacon, instead of one of 20 francs, which the chamber of deputies had already passed. SUNOL trotted a mile in 2:08 14, beating Maud S.'s record of 2:08% made in 1885. THE Associated press and the Western Union Telegraph Co. are at outs over the question of "leased wires," the services of which the company has refused newspapers. IT was reported that the Burlington passenger train No. 5, which left Chicago at 6 o'clock the previous evening wasditched between Burlington, Ia., and Galesburg on the morning of the 31st The engineer and five passengers were killed. THE archbishop of Aix, France will be prosecuted for disregarding the circular enjoining him not to leave his diocese without the consent of the government. The archbishop is liable to a heavy fine as well as a term of imprisonment THE pope is reported to be undecided about leaving Rome. THE British sealers Otto and E. B. Marvin, which were seized in Behring sea, have been released by direction of the lord commissioner of admiralty. THERE was a run on the Yonkers (N. Y.) savings bank. About 4,000 excited depositors drew out $200,000 in a few hours. JOHN Russ, a white man, was lynched at Columbus, La., for brutally murdering an aged negress. THE post office officials are greatly interested in the expected lessening of the work in the large postoffices of the country by the introduction of new stamping machines. THE boiler of the Brookhaven (Miss.) Machine Co. exploded, instantly killing James Hoskins, fireman, and wounding c. A. Woodbury. Hoskins' head was blown off.