15087. Elmira Savings Bank (Elmira, NY)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
May 23, 1893
Location
Elmira, New York (42.090, -76.808)

Metadata

Model
gpt-5-mini
Short Digest
31898602

Response Measures

Accommodated withdrawals, Books examined

Description

The Elmira Savings Bank experienced a deposit run (May 23–26, 1893) triggered by the suspension/closure of the Elmira National Bank. The savings bank continued doing business and paid small deposits on demand; later (July 10, 1893) it is reported to have reopened and paid a 25% dividend to old depositors. Contemporary reports indicate it never suspended full operations during the May run, so classification is run_only. Dates derived from newspaper dates (e.g., July 11 article states it reopened 'yesterday' = 1893-07-10).

Events (3)

1. May 23, 1893 Other
Newspaper Excerpt
The Elmira National Bank closed its doors this morning. The bank's failure is the result of the recent financial troubles of Col. D. C. Robinson. The suspension of the Elmira National Bank caused a big run to be made on the Elmira Savings Bank.
Source
newspapers
2. May 23, 1893 Run
Cause
Local Banks
Cause Details
Run was triggered by the suspension/closure of the Elmira National Bank and the related assignment of Colonel D. C. Robinson.
Measures
Paid all amounts under $100 on demand; amounts over $100 to follow usual statutory notice periods (30/60/90 days as required).
Newspaper Excerpt
The suspension of the Elmira National Bank caused a big run to be made on the Elmira Savings Bank. Hundreds of excited depositors crowded around the bank all day, but the bank kept right along doing business and the depositors will all be paid in full.
Source
newspapers
3. July 10, 1893 Other
Newspaper Excerpt
The Elmira (N. Y.) Savings bank reopened for business yesterday, paying its old depositors a dividend of 25 per cent. As soon as possible another dividend will be declared.
Source
newspapers

Newspaper Articles (11)

Article from The Indianapolis Journal, May 24, 1893

Click image to open full size in new tab

Article Text

ANOTHER BANK CLOSED. The Elmira (N. Y.) National Suspends Business-Run on a Savings Institution, ELMIRA, N. Y., May 23.-The Elmira National Bank closed its doors this morning. The bank's failure is the result of the re. cent financial troubles of Col. D. C. Robinson. The bank examiners, last week, reported the bank perfectly solvent in case Colonel Robinson paid his obligations; if not, the depositors then would be paid in full with a small loss to the stockholders. The suspension of the Elmira National Bank caused a big run to be made on the Elmira Savings Bank. Hundreds of excited depositors crowded around the bank all day. but the bank kept right along doing business. The depositors will all be paid in full.


Article from Morning Journal and Courier, May 24, 1893

Click image to open full size in new tab

Article Text

Run on an Elmira Bank. ELMIRA, May 23 - The suspension of the Eimira National bank to-day caused a big run to be made on the Elmira Savings bank. Hundreds of excited depositors crowded the doors, but the bank kept right along doing business and the depositors will be paid in full. All amounts under $100 have been paid on demand. The usual time allowed by law will be taken for all deposits over $100.


Article from Waterbury Evening Democrat, May 24, 1893

Click image to open full size in new tab

Article Text

Run on the Elmira Savings Bank. ELMIRA, N. Y., May 24.-The suspension of the Elmira National bank has caused a big run to be made on the Elmira Savings bank. Hundreds of excited depositors crowded around the bank all day yesterday, but the bank kept right along business and the depositors will all be paid in full. All amounts under $100 have been paid on demand. The usual time allowed by law will be taken for all deposits Over $100.


Article from Richmond Dispatch, May 25, 1893

Click image to open full size in new tab

Article Text

Elmira's Business Difficulties. (By telegraph to the Dispatch.] ELMIRA, N. Y., May 24.-Mayor David c. Robinson this morning made a general assignment for the benefit of his creditors. making the Elmira National Bank, which closed its doors yesterday, a preferred creditor. The bank is in the bands of a bank examiner. The run on the Elmira Savings Bank continues. and all depositors having less than $100 are being paid. The Savings Bank may be able to pay every dollar. and the probability is that every dollar will be taken out. Schedule .. A" in the assignment places Colonel Robinson's indebtedness to the Elmira National Bank for overdrafts. his own paper and notes endorsed by him, at $258,000. Preferences outside of the bank aggregate $55,000. The filing of the assignment has created great excitement. and the county clerk's office is besieged by hundreds of people anxious 10 see the document.


Article from The Roanoke Times, May 25, 1893

Click image to open full size in new tab

Article Text

The Elmira Bank Troubles. ELMIRA, N. Y, May 24.-Mayor David C Robinson this morning made a gene:al assignment for the benefit of his creditors. making the Elmira National Bank, which closed its doors yesterday, a preferred creditor. The National Bank is in the hands of a bank examiner. The run on the Elmira Savings Bank continues and all depositors having loss than $100 are being paid. The Sivings Bank may be able to pay every dollar and the probability is that every dollar will be takenout. Schedule "A" in the assignment places Robinson's indebtedness to the Elmira National Bank for overdrafts, his own paper and notes indorsed by him at $258,000. Preferences outsido of the bank aggregate $55,000. The filing of the assignment has created great excitement and the county clerk's office is beseiged by hundreds of people anxious to see the document.


Article from The Austin Weekly Statesman, May 25, 1893

Click image to open full size in new tab

Article Text

Elmire National Bank Closed. ELMIRE, N. Y., May 23. - -The Elmire National bank closed its doors this morning. The bank's failure is the result of the recent financial troubles of Col. D. C. Robinson. Bank examiners last week reported the bank perfectly solvent in case Colonel Robinson paid his obligations, if not depositors would be paid in full, with a small loss to the stockholders. The suspension of the Elmira National bank caused a big run on the Elmira Savings bank, but the bank kept right along doing business and depositors were paid in fuli.


Article from The Times, May 25, 1893

Click image to open full size in new tab

Article Text

DAVID C. ROBINSON ASSIGNS. The Elmira National Bank a Preferred Creditor_Run on a Bank. ELMIRA, N. Y., May 24.-Mayor David C. Robinson this morning made a general assignment for the benefit of his creditors, making the Elmira National Bank, which closed its doors yesterday, a preferred creditor. The National Bank is in the hands of a bank examiner. The run on the Elmira Savings Bank continues, and all depositors having less than $100 are being paid. The Savings Bank may be able to pay every dollar, and the proba. bility is that every dollar will be taken out. Schedule A. in the assignment places Colonel Robinson's indebtedness to the Elmira National Bank for over-drafts, his own paper and notes indorsed by him, at $258,000. Preferences outside of the bank aggregate $55,000. The filing of the assignment has created great excitement, and the county clerk's office is besieged by hundreds of people anxious to see the document.


Article from The Indianapolis Journal, May 25, 1893

Click image to open full size in new tab

Article Text

Business Tronbles. NEW YORK, May A.-The Van Wagner & Williams Company. of No. 14 Warren street, wholesale dealers in hardware, have failed. A receiver was appointed late this afternoon. The firm of Van Wagner & Williams had a very high credit, and. it is said, transacted the second largest business among the wholesale hard ware houses in this city. The company is capitalized under the laws of the State of New Jersey for $150,000. and have property in this city. Brooklyn and Cleveland, O. No statement has yet been made. ELMIRA. N. Y., May 24.-Mayor David J. Robinson this morning made a general assignment for the benefit of his creditors, making the Elmira National Bank, which closed its doors yesterday, a preferred creditor. His liabilities may reach $100,000. National Bank Examiner Gatchell arrived in Elmira to-day and took charge of the Elmira National Bank. The run on the Elmira Savings Bank continues, and all depositors having less than $100 are being paid. BOSTON, May 24.-Michael Dyer. jr., has placed an attachment on all the property of C. A. Prince. To-day notes aggregating $10,000. signed by Mr. Prince alone. went to protest. Mr. Prince has not been in his office for several days. and Mr. Dyer says he is unable to locate him.


Article from The Salt Lake Herald, May 25, 1893

Click image to open full size in new tab

Article Text

Another Elmira, New York, Assignment. ELMIRA, N.Y., May 24.-Mayor D. C. Robinson made an assignment to the Elmira National bank, which closed its doors yesterday, as preferred creditor. Liabilities are unknown but it may reach $100,000. The run on the Elmira Savings bank is continued. All sums over $100 are being paid on demand. Colonel Robinson's indebtedness to the Elmira National bank is $258,000. Preferences outside of the bank aggregate $55,000. The assignment created great excitement, and the county clerk's office was besieged by & hundreds of people anxious to see the document.


Article from Waterbury Evening Democrat, May 26, 1893

Click image to open full size in new tab

Article Text

Run on the Bank Over. ELMIRA, N. Y., May 26.-The run on the Elmira Savings Bank, which was started by the failure of the Elmira National Bank, has . pretty nearly ceased. The total amount drawn out is about $8,000, in sums of not over $100. It is not known how large an amount the fifty and sixty days notices call for to be paid at the expiration of that time, but it is probable that confidence will be fully restored and the depositors will allow their money to remain.


Article from St. Paul Daily Globe, July 11, 1893

Click image to open full size in new tab

Article Text

TELEGRAPHIC TICKS. The cruiser Philadelphia has arrived at Rio de Janeiro, Brazil. The Southern California bank at Los Angeles, Cal., resumed business yesterdry morning. The Lafayette hotel, belonging to the Wabash and Big Four at Lafayette, Ind., was destroyed by fire yesterday afternoon. The total number of fourth-class postyesterday was caused 126, of were to fill which masters 40 appointed death. vacancies by resignations and The Elmira (N. Y.) Savings bank reopened for business yesterday, paying its old depositors a dividend of 25 per cent. As soon as possible another dividend will be declared. a Secretary Herbert has directed court martial to assemble at Mare the Island, Cal., on the 29th inst., for trial of Paymaster J. S. Sullivan, charged with embezzlement. Mrs. Bancroft, the well-known actress, thrown from a cab in London yeswas terday and run over. She received injuries that necessitated her removal to a hospital. 1: The discussion of the ninth clause of government act. which relates to the in of Irish parliament the Irish representation counties the committee and imperial boroughs, began yesterday in of the whole of the house of commons. The missing yacht Sea Gull, which was supposed to have foundered near Chicago with nearly a dozen people all in Sunday night's storm, has turned up right. She landed in an out-of-the way place in the southern part of the city, and suffered no damage. Latest advices are to the effect that the steamer Bawnmore, which struck a rock off Point Gardo, Cal., and Cas- was about to sink, has been towed into She par bay, on the Mendocino coast. is a very much damaged vessel. The excursion steamer Eldorado ran aground on Horseshoe reef, near Buffalo, it early yesterday, and for a while which looked as though the accident, in itself slight, would dis- all but the passengers astrous, was prove were safely landed. The New Haven steamboat Richard Peck, whose highest ambition is to show Purher heels to some other boat, the the Fall River line, has by Mr. itan pride of lowered Hearst's in had little race her yacht Vamoose, who beat her a on Long Island sound. One million bushels of grain came to Ont., from the West last The receipts were received there in one as Kingston, week. ever week, the carriers largest and a of the large are there waiting to be result lying many grain unloaded. of the T. Oswin Mayo, vice president E. Wells Packing company. committed suicide at his home, in Chicago, by taking a dose of rat poison. His business affairs are said to be in good condition, act. and 110 cause can be assigned for the Enlisted men in the navy will now have the privilege of purchasing their Secretary Herbert yesterday order establishing for the purchase regulations issued discharge. an rules of and discharges, as authorized by the last naval appropriation bill. believed at Leaventhat the the coal miners IS at an among worth. It is Kan., generally sympathy strike end. into morning miners went mines. The men work at the price offered the Yesterday two when for resumed mine they first went out-80 cents a ton run coal. Reports to the South Chicago police who station indicate that three men were seen clinging to an upturned row aftboat off Cheltenham Beach Sunday ernoon, and who were supposed to have the been drowned, were picked up by occupants of a boat and brought safely to land. The statue of P. T. Barnum at Seaside park, Bridgeport, Conn., was disfigured Sunday night by being covered of with red paint. The granite steps the pedestal were covered with inscriptions derogatory to the character of the deceased showman. There is no clue to the perpretator of the deed. Jerry O'Donnel was to have been married at Calumet, Mich.. but at the time set for the ceremony a requiem mass was being sung for him. He died suddenly. O'Donnell was the one for very who-was sent to the penitentiary three years for trying to bribe the jury in the Croun case at Chicago. The New Zealand Loan aud Mercancompany, limited, the offices of are in London, is The capital of the tile day. which Agency failed company the yester£4,500,000. Three-quarters of loss It will on people in Great Britain. is that the company on wide speculations John S. Penman, tralia. carrying Rev. feared fall Dr. Irvington, rector has in been Aus- of the Presbyterian church at He N. Y., has resigned his pastorship. he has done so because of his inability says to longer sustain and subscribe to the "system of doctrine" of his church. Dr. Penman was one of the commissionto the general assembly at Washing- in ton. ers He voted with the minority favor of Dr. Briggs.