14871. German Savings Bank (Brooklyn, NY)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
January 11, 1872
Location
Brooklyn, New York (40.660, -73.951)

Metadata

Model
gpt-5-mini
Short Digest
73e026eb

Response Measures

Accommodated withdrawals

Description

Multiple contemporaneous newspapers report a run (Jan 11–12, 1872) on the German Savings Bank, Williamsburg/Montrose Ave., Brooklyn caused by rumors of insolvency. Bank paid depositors, remained open and depositors re-deposited funds; run subsided by Jan 14. No suspension or receivership mentioned.

Events (2)
1. January 11, 1872 Run
Cause
Rumor Or Misinformation
Cause Details
Rumors that officers had become insolvent/insolvency rumors led depositors to clamoring for deposits.
Measures
Officers promptly paid depositors; bank opened extended hours to pay and later re-opened for business.
Newspaper Excerpt
Rumors having prevailed for several days that the officers connected with the German Savings Bank ... had become insolvent, many of the depositors ... became panic-stricken ... They were all promptly paid
Source
newspapers
2. January 14, 1872 Other
Newspaper Excerpt
Termination of the run on the German Savings Bank-The former panic-stricken depositors re-depositing their funds. The run ... terminated yesterday afternoon ... several ... re-deposited it and expressed to the cashier their sorrow for their folly.
Source
newspapers

Newspaper Articles (8)
1. January 12, 1872 Evening Star Washington, DC
Article from Evening Star, January 12, 1872

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Article Text

Shocking Murder is Nova Seotla. HALIFAX, N. S., Jan. 12.-A shocking murder was lately committed at Grand Grove, Richmond, county. A young man, named William Batler, was found on the evening of the 5th in an exhausted condition, near his residence, with a gunshot wound between the shoulders. A deposition was taken to the effect that while Butler was sitting near the fence of William Laford's field, Alexander Laford, son of the owner, approached Butler from behind with a gun unexpectedly, and when within six yards fired and without a word ran away. Butler was engage a to Laford's sister and the family disapproved of the match. Butler had arranged for an elopement, and expected to meet Mrs. Laford clandestinely that evening. He died in 28 hours atter being shot. The coroner's jury returned a verdict of wilful murder against Alexander Laford, and he has been committed to jail to await his trial. He is only twenty years or age. Fishermen in Conneil. GLOUCESTER, Mass.. Jan. 12.-A meeting of citizens of Gloucester interested in the fishing business was held here last evening. A committee was appointed to co-operate with committees from other localities in an endeavor to obtain from Congress some legislation granting bounty on tonnage. or relief in some other form for the great injuries which must result from the ratification of the Washington treaty. Tammany Hall Opened by Law. NEW YORK, Jan. 12.-Under a mandamus of Judge Barnard, Tammany Hall was throw a open last night to the democratic delegates recently elected. and possession was faken by them. A meeting was held, Henry Genet in the chair, and after a short session adjourned. This is considered a triumph over the sachems. Fatal Accidents. New YORK, Jan. 12. F. Reid. J. Gibson an C. Sylvester were fatally injured yesterday by the falling of a scaffolding in the new Geological, Hall of Rutgers, New Brunswick, N.J. Wm. Totten, the lad shot by a toy cannon Tuesday, died yesterday evening. The Debt Prisoners in New York. NEW YORK, Jan. Arguments were heard yesterday in the supreme court involving the validity of Judge Barnard's order releasing prisoners contined for debt in Ludiow street jail. No decision was announced. Fisk's Successor as Vice President or the Eric Railway. NEW YORK, Jan. 12.-At a meeting of the directors of the Erie railway, yesterday, O. H. P. Archer was elected vice president, in place of the late James Fisk. Won't Have Another Controller. NEW YORK. Jan. -The office of controller has been abolished, and an auditing committee, composed of Henry Thompson, H. N. Otis and John Hilton, appointed instead. Another Run on n Savings Bank. NEW YORK, Jan. 12.-A run took place yes. terday on the German Savings Bank, Williams. burg, but the bank was amply able to meet all demands. Tweed's Ball. ALRAVE Inn 9

2. January 12, 1872 Evening Star Washington, DC
Article from Evening Star, January 12, 1872

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Article Text

Another Run on n Savings Bank. NEW YORK, Jan. 12.-A run took place yes. terday on the German Savings Bank, Williams. burg, but the bank was amply able to meet all demands.

3. January 12, 1872 The New York Herald New York, NY
Article from The New York Herald, January 12, 1872

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Article Text

A BROOKLYN SAVINGS BANK PANIC. Rumors having prevailed for several days that the officers connected with the German Savings Bank, Montrose avenue, Brooklyn, E. D., had become insolvent, many of the depositors in that institution became panic-stricken before the closing of the bank yesterday afternoon, clamoring for their deposits. They were all promptly paid, and the officers of the institution assured them that there was no cause for alarm; but it is believed that the run will be continued to-day.

4. January 12, 1872 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, January 12, 1872

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From New York. New YORK, Jan. 12.-The following officers of the Union League Club were elected last night President. Wm. .J. Hoppin: Treasurer, George Cabot Ward: Secretary. George Hill. The Treasurer's report of last year shows the expenditures in be 8179092 There is a sur plus on hand of $625 A run took plack yesterday on the German Savings Bank. Williamsburg, but the bank was amply able to meet all demands. At it meeting of the directors of the Erie Railway yesterday, O. II. P. Archer was eleeted Vice-President in place of the late James Fisk. The office of Comptroller has been abolished, and an auditing committee composed of Henry Thompson, II. N. Otis and John Hilton. ap. pointed in stead. The steamship Algeria from Liverpool has arrived. Among the passengers are Hon. James Brooks and family. I nder a mandamus of Judge Barnard Tammany Hall was thrown open last night to the democratic delegates recently elected and possession was taken by them. A meeting was held : Henry Genet in the chair. and after a short session adjourned. This is considered a triumph over the sachems. F. Reid, .I. Gibson and C. Sylvester, were fatally injured yesterday by the falling of a scaf folding in the new Geological Hall of Rutgers, New Branswick, N. J. Wm. Totten, the lad shot by a toy cannon Tuesday, died yesterday evening. Arguments were heard yesterday in the Supreme Court involving the validity of Judge Barnard's order releasing prisoners confined for debt in Ludiolow street jail. No decision was announced. Two hundred people were arrested at a cock fight in Hoboken yesterday, but were released with a reprimand. The Medical Society of this city is framing a law for the suppession of illegal practitioners. Henry Diell had his skull fractured with an axe during a fight with his son at Camden, N. J., Wednesday. The son has fied. Both are ex-convicts. Libbie Ganabrandt, and her lover, Van Winkle Bogert, were arraigned on the charge of murder, by poisoning R. F. Burrougbs, at Peterson, yesterday. Both plead not guilty. Their trial will take place in April. The Delaware and Lackawana Railway has been indicted by the Grand Jury of Paterson, N. J. for killing a fireman and engineer by a collision of trains, and also for obstructing the highway by allowing trains to remain at the road crossings.

5. January 13, 1872 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, January 13, 1872

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Article Text

NEW YORK CITY. NEW YORK, January 12.-The League follow- Club ing were officers elected of last the night Union President, Cabot Ward; M. J. Treasurer, Treasurer's Secretary, Hoppin; George Hill. George The expenditures report e.$179,092; last year surplason place shows yesterday the hand $62,940. on the German A run Savings took was Bank amply of able Williamsburg, to meet all of the Directors At yesterday, O. H. P. of the Eric Vice President in place but demands. the elected railway, bank meeting Comptroll- Archer of the was Fisk. The office of comlate James and an auditing was of Henry and John Hilton Algeria, from stead. er mittee N. Otis steamship composed abolished Thompson, appointed Liverpool, are in- H. The Among the passengers James Brooks and mandamus of last Hall was to the Democratic delegates taken has arrived. Tammany Hon. Under a thrown family. Judge open Barnard, recent- by night elected, and possession was Genet ly A meeting was session in the This is considered a adjourned. them. chair-and sachems. after held-Henry a short of this triumph city over the and firemen The police received their pay for Dehave not but probably soon will, of the financial act the Legislature, cember, provisions yet Wendnesday. arrested passed under yes- the by Three with boy four burglars hundred were dollars' worth of terday, plunder in were their heard possession. yesterday validity in the of Arguments Court, involving the to prisonSupreme Barnard's order relating Ludlow Street Judge confined for debt in ers No decision is announced. of Herald states Jail. The under arrest that for two cruelly with Bergh's them beatofficers ing a citizen are who expostulated his horses; and that interference the with Anti-Cruelty Society the officers to bribe the man to taken by the James had not for The endeavored prosecute. testimony the inquest of on the body grand of coroner's beaten jury, jury at o-day sent to the pistol Fisk, was with the bullet and that by Stokes. indicted It is for the murder of will this together afternoon. be expected arrested Stokes Fisk used at a Two hundred in Hoboken people were yesterday, but cock released fight with a reprimand. framwere Medical Society of this city of is illegal ing The a law for the suppression at practitioners. the pigeon match of 25; Douglass Park won to-day, killing 23 Hall out was present. Jerome Bennett killing There 20. was Mayor no police interference. Jones, a prominent Tammany a deputy Morgan having been sued the by latter a for having to give and viz: $1,000, sheriff bounty politician, jumper, the refusing case, called for the he a bail required in in Ludlow Street Jail changshort was ed his confined time mind to-day, and furnished but by evening the required bonds. Some of the members of of the the Tammany General society, not members taken steps to bring Committee, have Judge Joseph F. Barnard, for Second Judicial the action of the before the question District, whether the not recent purpose of election testing of 70 members is illegal. new trial is granted Wm. to be H. hanged McNevins, A who was Lawrence sentenced H. Jordan. for the murder leader of was honorably Benedict, disThe Cuban custody by Judge of charged from the indictment witness for of the Erie The to English who recommended remainder perjury. shareholders, to-day. shares 12,735 the belonging were transferred in Brookin number, Brown, who was shot at noon. lyn by was instantly the Frank Mary James Gillnave Hunter, seriously died injured killed lime by and and Michael Quan cask filled with this mornexplosion at Long of a Island brewery, officers inspected New a milk stables at yesterday, by the water, ing of The swill Bergh of the East proprietorsare number York Jury. at likely to be and indicted Delman's some paper, Grand The City an leged of to-day, transaction Brooklyn, Alexander extraordinary the Liverpool, brings financial to London light It charges and alaffecting Globe Insurance Company. manipulation the five million of assets have in trust to thousand secure to selves three forever invilate, and advermanagers lars that annum through financial hundred pledged is a falsity that dollars them- dol- the former tised among the a company's sensation in January 12.-Ata Commitcircles. per article creates immense YORK, sum Central assets. insurance meeting Horace . The of NEW the Union Republican resolutions of E. to-night, the and Hon. Thos. were succeeded tee Greeley Stewart was selected read, with William and Reid Palmer first him as President, President, and Gen. Geo. W. Second Vice Vice President.

6. January 13, 1872 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, January 13, 1872

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News from New York. New York, 12. A Richmond despatch states that the house of delegates yesterday passed a new pilot law, abolishing compulsory pilotage on the James river and the pilot tax on all coasting vessels. A joint resolution has been passed submitting a clause to the Constitution fixing the maximum rate of interest at 12 per cent. The Congressional Committee this morning received letters complaining of losses of goods while in custody of custom house officers. The committee also received a tabular statement of the number of persons employed and removed from the custom house under the last six collectors. The testimony taken by the coroner's jury at the inquest of James Fisk, Jr., was to-day sent to the Grand Jury, together with the bullet and pistol used by Stokes. It is expected that Stokes will be indicted for the murder of Fisk to-day. Some members of the Tammany Society not members of the general committee, have taken steps to bring an action before Judge Barnard of the second judicial district, for the purpose of testing the question whether the secret election of one hundred and twenty members is not illegal. The supreme court has affirmed Judge Cardozo's decision, setting aside the old report on widening Broadway and appointing new commissioners. Commodore Douglass won the pigeon shooting match at Jerome Park to-day, killing 23 out of 25 pigeons. Gen. Jordan, Cuban leader, was honorably discharged from custody by Judge Benedict today, who recommended the indictment of witnesses for perjury. The remainder of the Erie shares belonging to English shareholders were transferred to-day. They numbered 12,735 shares. The run on the German Savings Bank at Williamsburg was continued to day. Bergh's officers inspected a number of swill milk stables at East New York yesterday, and some of the proprietors are likely to be indicted by the grand jury. Alexander Delmars' paper "The City of Brooklyn." of to-day, brings to light an alleged extraordinary financial transaction effecting the Liverpool, London and Globe Insurance Company. It charges that through financial manipulations the managers have pledged $5,000,000 of assets in trust to secure to themselves $300,000 per annum forever inviolate, and that the former immense sum is advertised falsely as among the company's assets.

7. January 14, 1872 The New York Herald New York, NY
Article from The New York Herald, January 14, 1872

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THE WILLIAMSBURG SAVINGS BANK. Termination of the Kun on the German Savings Bank-The Former Panic-Stricken Depositors Re-Depositing Their Funds. The run on the German Savings Bank, Montrose avenue, Williamsburg, that commenced at noon on Thursday last, terminated yesterday afternoon, much to the gratification of the officers of the institution, who were kept busy paying out deposits during that time. Last evening the bank was opened at live o'clock for business and was kept open until eight. During those hours there was little or no excitement. Several or those who had withdrawn their money on Thursday and Friday re-deposited it and expressed to the cashier their sorrow for their 1011y. Thus ends the trouble of the German Savings Bank.

8. January 15, 1872 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, January 15, 1872

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The run on the German Savings Bank, at Brooklyn, subsided on Saturday and a number of withdrawn deposits were returned. The amount on deposit was $1,000,000 and the bank is reported to have a surplus of $32,000. Governor Palmer on Saturday ap proved the bill recently passed by the Legislature to provide against the evils resulting from the sales of liquors in the State of Illinois.