Dime Savings Bank (brooklyn)

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: May 16, 1884
Location: Brooklyn, New York (40.660, -73.951)

Metadata

Model: gpt-5-mini
Short Digest: e1f7729e

Response Measures

Accommodated withdrawals

Other: General public nervousness and confusion over similar bank names caused withdrawals across multiple Brooklyn savings banks.

Description

Article (New-York Tribune, 1884-05-16) reports depositors withdrawing about $80,000 from the Dime Savings Bank amid general excitement in Brooklyn savings banks. No suspension, closure, or receiver is mentioned. The trigger appears to be general nervousness and name-confusion among local banks, so classified as a run only. OCR-corrections: none significant.

Events (1)

1. May 16, 1884 Run

Cause: Rumor Or Misinformation
Cause Details: General excitement among depositors in Brooklyn; confusion/name similarity among local banks prompted withdrawals (panic/nervousness).
Measures: No specific remedial measures mentioned beyond normal bank operations.
Newspaper Excerpt: At the Dime Savings Bank, President Hunter said that about $80,000 was drawn out and $20,000 put in.
Source: newspapers

Newspaper Articles (1)

1. May 16, 1884 New-York Tribune New York, NY

Article from New-York Tribune, May 16, 1884

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Article Text

A LITTLE EXCITEMENT IN® BROOKLYN. Some excitement prevailed in the Brooklyn banks where timid depositors drew out their savings, losing interest for three or six months. There was no reason for fear, it was declared. in regard to any of the Brooklyn savings banks, but small crowds of depositors gathered at each. Probably the bank which suffered the most was the South Brooklyn Savings Institution, sometimes called the Atlantic Bank, at Clinton-st. and Atlantic -ave. The similarity of the name to that of the Atlantic State Bank led many persons to confound the two, and a large amount was withdrawn by the depositors. When the bank closed for the day many persons were unpaid. At the Brooklyn Savings Bank from $125,000 to $150,000 was drawn out, a sum largely in excess of what is usually drawn. There were also many deposits made. At the Dime Savings Bank, President Hunter said that about $80,000 was drawn out and $20,000 put in. The amount drawn out was about three times as much as usual. None of the large depositors in any of the dozen Brooklyn saving banks drew out their money. Mayor Low said that the city was never in better shape to meet an emergency. The situation was perfectly easy.