Brooklyn Bank - Brooklyn, NY

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: July 30, 1893
Location: Brooklyn, New York (40.660, -73.951)

Metadata

Model: gpt-5-mini
Short Digest: c4bba3fb

Response Measures

Accommodated withdrawals

Description

Article (The Sun, 1893-07-30) reports a slight run at the Brooklyn Bank in the morning but no suspension or closing; context is broader precautions (30/60 day rule) during the 1893 panic, so classified as a run only driven by general/systemic nervousness.

Events (1)

1. July 30, 1893 Run

Cause: Macro News
Cause Details: General precautionary measures and depositors' nervousness amid wider banking disturbances (30/60 day rule adoption), not a bank-specific scandal or misinformation.
Measures: Bank officers reassured depositors; no suspension—bank continued operations; time-limit (30/60 day) precautions discussed in region but not enforced at this bank.
Newspaper Excerpt: There was a slight run at the Brooklyn Bank in the morning, but it did not disturb the officers in the least.
Source: newspapers

Newspaper Articles (1)

1. July 30, 1893 The Sun New York, NY

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Article Text

NO RUNS LIKELY IN KINGS COUNTY. A Few of the Savings Banks Adopting the Time Limit as 18 Precaution. The action of the representatives of the savings banks on Friday in deciding that each bank might avail itself of the privitege of putting the thirty and sixty days' time limit regarding the withdrawal of deposits in operation did not create much stir among the depositors in the Brooklyn banks. A few of the banks took advantage of the privilege. and some of the others will probably do so next week. All the banks are said to be solid financiaily. and there is no indication of any alarmingly panicky feeling among the depositors. A few minutes after the Dime Savings Bank opened its doors depositors began to come in in a steady stream. anxious to withdraw their deposits. After a consultation between President G. S. Hutchinson and the other officers of the bank it was announced that the time limit notice for amounts in excess of $100 would be enforced. Cashier Hunter said: "No person need be alarmed. This is more a matter of precaution than anything else. The bank is as good as it ever was." The order caused only irritation on the part of three or four depositors. and during the day about the same amount of money as usual was taken in. Almost the same condition of affairs existed at the South Brooklyn Savings Bank. where the sixty days' limit clause regarding the withdrawal of deposits was also enforced. The only grumbling was on the part of some depositors who wanted ready money to pay off pressing demands. Treasurer Anderson seld: "It is extremely unpleasant for the bank authorities to adopt this course, but it has become extremely diffleult to get money. and as a precautionary measure the banks must harbor their ready cash." At the Brooklyn Savings Bank, the Germania Savings Bank. the City Savings Bank. and the Brevoort Savings Bank money was being paid out as usual. and at each it was said that more money was taken in than was paid out. There was a slight run at the Brooklyn Bank in the morning. but it did not disturb the officers in the least. The sixty days' notice will go into effect at the East Brooklyn Savings Bank to-morrow. At the Williamsburgh Savings Bank. Driggs avenue and Broadway, severallhundred depositors withcrew their savings yesterday. The bank is one of the most solid institutions in the country. and has a surplus of more than $5,000,000. Gen. Meserole, the President of the bank. declined to say whether or not his Institution would takeladvantage of the thirty day and sixty day rule. Every depositor who comes here is being accommodated." was all that Gen. Meserole would say. The trustees of the Kings County Savings Bank. at Broadway and Bedford avenue, had an informal meeting yesterday morning. and afterward said that they had not yet received a communication from the Executive Committee of the Savings Banks of the State, and. therefore, could not speak on the subject. Cashier Bischoff of the German Savings Bank. Broadway and Boerum street. said the deposits during the last few days exceeded the withdrawals. and that his bank would pay no attention to the thirty or sixty day rule.