1542. Savings Bank (Rockville, CT)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
March 16, 1892
Location
Rockville, Connecticut (41.867, -72.450)

Metadata

Model
gpt-5-mini
Short Digest
f8df57f5f1b51c99

Response Measures

None

Description

Multiple contemporary articles (Mar 16–17, 1892) report a run on the Rockville Savings Bank triggered by rumors among German residents after a declined loan request. Bank officers paid depositors promptly, had large reserves available, many depositors returned funds, and the institution remained open — consistent with a run-only episode. I corrected the provided generic bank name 'Savings Bank' to the specific 'Rockville Savings Bank' based on the articles.

Events (1)
1. March 16, 1892 Run
Cause
Rumor Or Misinformation
Cause Details
Rumors among German residents that the bank was insolvent, reportedly sparked when some Germans had a loan request refused and interpreted that as a sign of unsoundness.
Measures
Officers paid depositors promptly throughout the day, extended hours (remained open past noon), and had assistance/reserves from local national banks (about $200,000) available.
Newspaper Excerpt
The greatest excitement was caused in this city to-day by a run on the Rockville Savings Bank... Last night rumors were circulated among the German residents of the city... The bank officers are paying all without hesitation.
Source
newspapers

Newspaper Articles (10)
1. March 16, 1892 The Providence News Providence, RI
Article from The Providence News, March 16, 1892

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Article Text

GERMANS START A RUN On the Strong Savings Bank of Rockville. THE CITY WILDLY EXCITED. The Officers Pay All Without Hesitation, and Say There is Not the Least Foundation for Any Scare-The Origin of the Rumor a Mystery. BY LEASED WIRE TO THE NEWS. ROCKVILLE, Conn., March 16.-The greatest excitement was caused in this city to-day by a run on the Rockville Savings Bank, which is believed to be one of the strongest in the State. Last night rumors were circulated among the German residents of the city, many of whom are depositors of the bank, to the effect that the bank was insolvent. The origin of the rumor is a mystery, and the officials of the bank assure all that it has no foundation in fact. When the doors of the bank were opened this morning at 10 o'clock, a number of depositors were gathered outside, and since that hour there has been a steady run. The bank officers are paying all without hesitation. The annual report of the bank. which was issued Oct. 1, 1891, showed that the banks had deposits amounting to $1,132, 789 : surplus, $35,000. There were then 3,703 depositors. It was stated to-day that the rumor concerning the solvency of the bank was started by a number of Germans who called at the bank yesterday afternoon and tried to effect a loan. The officers of the bank were not satisfied withthe security and declined to advance the monéy. The refusal was accepted by the Germans as an indication that the bank was not in a sound condition and the report spread with great rapidity. Soon after the opening this morning President Bill was informed of the run and went to the bank. He remained there all day, with several of the directors, and Cashier Bissell. All who demanded their money were paid and at noon several hundred depositors had withdrawn their money. At that hour the officers of the bank estimated that about $35,000 had been paid out. Usually the institution is closed at noon, but to-day it remained open until late in the afternoon. Conservative business men here express the belief that there are no grounds for the fears of the depositors.

2. March 16, 1892 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, March 16, 1892

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Article Text

Run on a Rockville Bank. ROCKVILLE, March 16.-The greatest excitement was caused in this town to-day by a run on the Rockville Savings bank, which is believed to be one of the strongest institutions in the state. Last night rumors were circulated among the German residents of the city, many of whom are depositors of the bank, to the effect that the bank was insolvent. The origin of the rumor is a mystery and has no foundation. Before the doors of the bank were opened this morning at 10 o'clock, a number of depositors gathered outside. Since the opening of the bank there has been a steady run. The bank officers are paying all without hesitation. The annual report of the bank, which was issued October 1, 1891, showed that the bank had deposits amounting to $1,132,789, surplus $35,000. There were then 3,703 depositors.

3. March 17, 1892 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, March 17, 1892

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Article Text

Run on a Bank. ROCKVILLE, Conn., March 17. - A rumor became current among the German citizens of this city in regard to the selvency of the Savings bank of Rockville, and a run has been in progress since it opened. The officers were busy all day paying all depositors who called for their deposits. A large amount was paid out in sums from $5 to $1,000. The bank is considered one of the strongest in the state.

4. March 17, 1892 The Providence News Providence, RI
Article from The Providence News, March 17, 1892

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News Condensed. A movement is on foot for a Catholic University in Chicago. Congressman McKinney of New Hampshire says he is a candidate for governor and for no other office. W.F. Dana of Montague has been appointed by Gov. Russell trial justice of Franklin county. Dr. Mott Smith, the newly accredited minister from Hawaii has been formally presented to the President. The First Christian Church of New Bedford has extended a call to Rev. G. D. Black of Yellow Springs, O. Charlas E. Hellier of Boston, Mass., was yesterday admitted to practice in the United States Supreme Court. The coal agents have decided to advance 25 cents a ton on chestnut coal and to restrict the output to 2,500,000 tons. Prof. William J. Tucker of Andover Theological Seminary, has declined the presidency of Dartmouth College. Michael Haggerty of Willimantic, Ct., quarrelled with his wife and stabbed her in the face. He has been arrested. Joseph H, Redmond, who sued Burpee Rumsey, a Taunton shoe manufacturer for the loss of a hand, lost his case. The summer residence of Mrs. Delia B. Tracy of Boston, at Willimantie, Conn., was burglarized and silver ware was stolen. G D. Alden, appointed as justice of the 'ourth Plymouth district court by Gov. Russell just after his election, has at last been confirmed. The Senate has confirmed the nomination of Judson C. Clemer ts of Georgia, to be an interstate commerce commissioner, vice Bragg, deceased. The run on the Rockville, Conn., Savings Bank is practically over. The bank paid 125 persons, and some of them have returned their money. Elizabeth Stevens of Glasgow, Scotland, the last member of old an Scotch family, is dead. She has bequeathed 500,000 pounds to various charities there. Fourth-class postmasters were yesterday appointed as follow: J. R. Baldwin, Southfield, Mass.; J. R. McCuin, Belvidere, Vt.; U. Clisbee, Green River, Vt. It has been decided that sailors hired to man an American vessel, short of men in a foreign port, are not foreign contract laborers when brought to this country. Louis J. Hyman, who is wanted in Boson on a charge of secreting mortgaged furniture, was arrested at New York yesterday and held to await requisition papers. Senor Quesada, the Argentine minister, will soon leave the United states for his native country, he having been recalled by reason of a change in the cabinet of the republic. An avalanche occurred yesterday at Belluno, North Italy. Eight persons were overwhelmed and killed by the immanse mass of snow and considerable property was destroyed.

5. March 17, 1892 Evening Star Washington, DC
Article from Evening Star, March 17, 1892

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The application made to the New York supreme court for bail for Burton C. Webster, the slayer of Charles F. Goodwin, has been denied. The literary convention between Germany and the United States has passed its third reading in the reichstag. The feeling is gathering ground in Canada that the government is thinking seriously of a preferential tariff in favor of Great Britain. The pope has written to Mr. Thomas B. Bryan, special commissioner to Italy for the world's fair, a letter commending the undertaking in the highest terms. The Rockville (Conn.) Savings Bank successfully sustained a run yesterday.

6. March 17, 1892 The Press Stafford Springs, CT
Article from The Press, March 17, 1892

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Article Text

ing out he found `several teams needing assistance and about fifty people merrily greeting him. Mr. Greene accepted the surprise gracefully, and the evening passed pleasantly to all. -Mr. and Mrs. Herbert Walker celebrated their 10th wedding anniversary Saturday afternoon and evening, March 12th. Nearly one hundred friends participated, leaving with their good wishes various reminders of the happy event. Conspicuous among them was, a case containing one dozen silver teaspoons, Mr. Walker's gift to. his bride, and a handsome Rochester burner from the ladies of the club. ROCKVILLE. -The prohibitionists of Tolland county will hold an all day conference in Brooklyn opera house, Rockville, March 25th, commencing 10 a. m. and 2 p. m. In the evening at 8 p. m. Van Bennett of Kansas will deliver an address. -Hartford Times, 16th : A rumor was circulated among the Germans last night regarding the financial condition of "the Savings Bank of Rockville," of which Lebbeus Bissell is treasurer. How the rumor started is unknown, but when the bank opened its doors at 10 a. m. to-day, there was a rush of depositors to draw their money. The run continued all the forenoon. The bank officers were kept busy paying all depositors who called for their deposits. The amounts paid out varied from $5 to $1,500. As the interest on these sums is lost from. October 1, 1891, the bank will make a large sum by the run and the poor people in town will lose it. The bank has a surplus account of $35,000 and is considered one of the strongest in the state. It was incorporated in 1858. Its present officers are: President, State Attorney B. H. Bill; treasurer, L. Bissell; directors or trustees, B. H. Bill, George Talcott, William Butler, E. I. SmithH. L. James, Dr. A. R. Goodrich, J. Goodnow, Dr. F. L. Dickinson, J. C. Hammond, Jr. The originators of the scare have resting upon them the grave responsibility of entailing much loss upon the poor victims of their work.

7. March 17, 1892 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, March 17, 1892

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RUN ON A BANK Resulted In a Loss of $500 Interest to the Depositors. ROCKVILLE, Conn., March 16-The run on the savings bank today continued until ate this afternoon and it is thought 18 practically over tonight The bank paid 125 depositors $25 000. The bank had. with the aid of the local national banks, $200,000 at its disposal. The bat k cleare $500 ID interest lost ty the depositors. A number of persons returned their money to the bai k this evenir g.

8. March 17, 1892 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, March 17, 1892

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The Bank Is Solid. ROCKVILLE. March 17.-The run on the Rockville savings bank was practically over at 3 o'clock yesterday afternoon, although a number of depositors called for money in the evening. This morning the officers of the bank stated that they paid out between $25,000 and $30,000, and had $200,000 more at their command, which they could have used should it have become necessary. Depositors on presenting their books yesterday received the amount represented therein. with interest to October 1, 1891. The largest sum drawn by any one person was $1,900, although there were a number of deposits of $1,000, and $1,500 with. drawn. Late in the afternoon a numbrr of depositors returned their money to the bank.

9. March 17, 1892 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, March 17, 1892

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WIRE WAIFS. At Greenut, Ky., Charles Crump was fatally shot .by his wife, she accusing him of infidelity. The Spencer house, one of the oldest hotels at Niagara Falls, was destroyed by fire Wednesday night. The fight advertised to take place at Albuquerque, N. M., March 23d, between Lewis and McCoy, is off. Señor Quesada, Argentine minister at Washington, has been recalled, owing to the change in that republic's cabinet. About thirty-five members of the national house of representatives are on the sick list, but none are seriously ill. The Pacific mail steamer Colima, which eprung a leak near San Salvador. has been repaired, and has proceeded on her voyage. The Union Pacific's January statement for the whole system shows that the gross earnings increased $98,751; net increase, $15,820. A rumor that the Rockville, Ct., Savings bank was insolvent caused a run on the institution. It is thought the bank is perfectly solvent. At Pittsburg, a conference of representatives of the Methodist church from all parts of the country formed a National Union of City Evangelization. Helena Buckhardt, the daughter of the Boston brewer, was married on Wednesday night, to Baron Von Scholley, a nephew of the Austrian field marshal. At the Methodist Episcopal evangelization (conference at Pittsburg, B. D. Carroll, of Baltimore, was chosen president, and G. P. Mains, of Brooklyn, corresponding secretary. Judgments aggregating $20,485 against the Monterey and Mexican Gulf Railway company of Mexico, in favor of John Willis & Co., on protested drafts, have been filed in New York. At Lexington, Mo., Haywood Heathman and Thomas and Jeese Graddy went hunting in a leaky skiff. They have not returned, and it is supposed they were drowned. At Wilmington, Del., in a desperate fight between officers and a gang of fleeing burglars, one officer was wounded and a burglar killed. The latter proved to be a ball-player of Wilmington. Mayor Stuart of Philadelphia has received a cablegram from Russia, detailing the manner in which the American relief funds will be disposed of. The cablegram says the distress has not been exaggerated. The gold medal offered a year ago by General Superintendent White, of the railway mail service, for the best examination record during the year, has been awarded to J. F. Phelps, of the Sedalia and Denison postoffice, seventh division. The boiler of a locomotive on a branch of the Philadelphia and Reading railroad, at Lacolie, Pa., exploded, killing Engineer Charles Hamili and Fireman Frank Brockio, injuring George Benton, a brakeman, and two trainmen, names unknown. The burning of a bridge on the Southern Pacific near Sanderson, Tex., is causing serious delay to traffic. The burned structure was over a deep canon, across which it is impossible to transfer passengers and freight, and business is completely tied up.

10. March 18, 1892 Morning Journal and Courier New Haven, CT
Article from Morning Journal and Courier, March 18, 1892

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LOCAL NEWS. Brief Mention. Leaders in styles-Royal Shoe company. Own a home-$10 a mo.-R. E. Baldwin. Mr. and Mrs. George Keeler of Cheshire have gone to Florida. Rev. E. S. Lines preached in St. Michael's church, Naugatuck, last evening. Mrs. Katharine Dailey, aged sixty-six, was found dead in bed at Bridgeport yesterday. Miss Lizzie Gaffney sings at a concert in Milford given by J. Jerome Hayes, the tenor, March 25. About twenty boys employed in the plush works, Bridgeport, went out on strike yesterday. Judge E. W. Seymour and Hon. Henry C. Robinson with their wives are visitors in Washington, D. C. Fifteen out of the thirty-five children in the county home in Stratford are ill with the measles. The grand council of the Order of United Friends will hold a special session in Bridgeport to-day. The board of finance met yesterday and approved the semi-monthly pay rolls of the various departments. In Stratford a boy of fifteen named Blakeslee has been arrested for assault upon a little girl named Orford. "Puck" and "Jndge" will be restored to their accustomed places in the free public library commencing to-day. During the run on the Rockville Savings bank about $30,000 was paid out. The bank had $200,000 more in reserve. An informal reception was given to Mrs. Sara T. Kinney in Hartford Wednesday afternoon at Mrs. Ward's, 137 High street. Dr. Russell of this city was in consultation this week in the case of Mrs. James Langdon, who is very ill at her home in Cheshire. E. E. Harvey of Waterbury will on Monday resume his old position with the A. B. Hendryx & Co. Manufacturing company, this city. The Meriden Press club has organized with Thomas L. Reilly, president; E. E. Smith, vice president; H. E. Sharps, secretary and treasurer. Assistant Postmaster Boyd is still ill with malarial and intermittent fever and will not probably be able to return to duty for a week or two. On the evening of Wednesday, March 24, a private masquerade ball is to be given by the K. O. J. society in Golden Rule hall, Exchange building. The principal secular celebration of St. Patrick's day in Hartford was the concert and reception by the United Irish societies at the First regiment armory last evening. Hiram Perkins, one of the best known and most highly respected citizens of Winsted, died very suddenly of heart failure Wednesday morning at his home, aged eighty-two. A concert will be given by the Troostwyk-Dessauer trio at Steinert hall April 8. Mr. and Mrs. Isidore Troostwyk, violin and piano; Mr. Max Dessauer, flute. Other eminent artists will appear. Mrs. Theodore S. Woolsey, who died on Monday last in San Diego, California, was the daughter of the late Dr. Stephen Salisbury of Brookline, Mass., a cousin of Professor E. E. Salisbury of this city. Madame Pote and Mr. William Barstow Smith, son of Dr. J. H. Smith of this city, are in Chicago and will be absent for several months. Madame Pote is about to establish classes in St. Paul and other places in the west. Mrs. Minnie R. Goodhue of Farmington, while on a visit at Millerton to her sister, Mrs. Dr. Miller, died on Sunday, March 13. Her death was sudden and unexpected. She had but partially recovered from the grip and it. brought on heart failure.