15496. Bleecker Street Savings Bank (New York, NY)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
May 15, 1884
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
a13810d7

Response Measures

None

Description

Multiple papers report a 'slight run' on the Bleecker Street Savings Bank on May 15, 1884 that 'subsid[ed] at noon.' No suspension, reopening, or receivership is mentioned for this bank. The run appears tied to broader street panic from failures/suspensions (e.g., Fisk & Hatch) rather than a discrete misinformation episode.

Events (1)

1. May 15, 1884 Run
Cause
Local Banks
Cause Details
Contagion/nervousness on the street following failures and suspensions such as Fisk & Hatch and other firms; reports link a rush at several banks that day.
Newspaper Excerpt
There was a slight run on the Bleecker Street Savings bank to-day, which subsided at noon.
Source
newspapers

Newspaper Articles (4)

Article from Savannah Morning News, May 16, 1884

Click image to open full size in new tab

Article Text

y bankers and brokers vesterd afternoon Second The rush at the National Bank There stopped were 148 denoon. has The clearing house made arrangements posits up to to pay all the Second debts. RAIDING THE BLEECKER STREET BANK Street When the doors of the Bleecker morning the Savings Bank were opened this crowd inded bank and begun imme the diately noon At rewd had deal good crowd Later the the off. dozen Only left an and the excitement had subsided SAGE PA STOPS YING RUSSELL out on him for stocks his Russe Sage who has been paying privi this formed clerks waiting turn and they too have been off for the SIMPSON CO will The of Friday of Simpson that their of the Me Bank were not The litan ha the part hours began The bonds the This was Bank in The Bank the did business. had firm and Bank thus There tra Inside attache offer Elkins to lead faith, the all the .to be Mis OF THE NGE EXCE the had of members and the for has The had reverse which there the height out bank had the pass Fisk after Stock the large clerks the failure firm the failed time of the thron the at duty than front one street the with firm. towards and paid the only the the firm the Stock Exchange, the bank looked closed nothing the the and by the no idea lear at We shall presoon rined from Europe of the busi his during absence few little the details of nearly one year. PETROI EUM. The of dition affairs street THE DECLINE IN on Wall high paid rates in and the caused demor decline 10 of price United troleum cents in the W Tednesday tall Pipe Line certificates by further per barrel There auxie as morning at the the from felt the earing the settlemen could be made


Article from Omaha Daily Bee, May 16, 1884

Click image to open full size in new tab

Article Text

LATEST FROM NEW YORK. The Bank of Fisk & Hatch Goes Under. NEW YORK, May 15, 3 p. m.-The firm of Fisk & Hatch has failed. It is composed of A. S. Hatch and Harvey Fisk. Hatch was recently elected president of the stock exchange by unanimous vote. This firm has been the heaviest dealers in government bonds in the street and was considered a staunch, conservative, reliable firm. It has been recognized as fiscal agents here of the Chesapeake & Ohio railway and of the Elizabethtown, Big Sandy & Lexington railway. They have sons and sons-in-law in the [stock business. The announcement of the suspension came like a thunder-bolt in the exchange. Wm. Lummis is now acting president of the exchangeowing to Hatch's disabilities. Efforts to aid his sons embarassed the firm. Hatch has been prominent in religious matters, philanthropical measures, and was frequently heard as a lecturer on religious subjects at the Mac au. ley Cremone mission. Fisk had just returned from a tour of Europe. The immediate result of the failure on the stock exchange was the decline of 1 to 5 points. The weakness in the government bona market is explained by the suspension of this firm. A reporter of the associated press, who called there two hours ago for explanation of the failure, was inform ed there was no known cause for it. Wm. Lummis, vice-president of the stock exchange is now at 2 p. m., acting as president. This firm went to wall during the panic of 1873, but resumed shortly. The suspension was not announced until a few minutes before 3, the closing hours of the exchange, but the effect was instantaneously depressing. On the announcement of the failure a rush of operators was made to the office of the failed firm. and anxious inquiries were made by the brokers as to how the firm stood. Fisk was seen by an associated press reporter, but refused to say anything. The doors closed and the crowd outside increased. The suspension is so unexpected its effect is more than double and the street is again excited. Brokers are rushing around wildly and the situation again assumes a troubled aspect. A ST. JOE. BANK GOES DOWN. ST. JOSEPH, Mo., May 14-The State Savings bank, of this city suspended and assigned to-day C. B. France, the president, makes a statement to the effect that the bank is intimately connected with Donnell, Lawson & Simpson, of New York, and has been for a long time a large depositor in the New York national bank which suspended to-day, thereby necessitating suspension. They hope to resume in a few days and pay all depositors and stock holders in full and leave the surplus intact. THE SITUATION AT THREE P. M. NEW YORK, May 15.-There was a slight run on the Bleecker Street Savings bank to-day, which subsided at noon. At the 2nd National there was no excitement. At 2:45 p. m. Fisk & Hatch suspended. THE SECOND NATIONAL. NEW YORK, May 15.-The rush on the 2nd National bank has about stopped. There were 148 depositors up to noon. The clearing house has arranged to pay all the Second National debts.


Article from The Daily Cairo Bulletin, May 16, 1884

Click image to open full size in new tab

Article Text

Excitement in Bleecker Street. NEW YORK, May 15.-There is a run on the Bleecker Street Savings Bank today. At noon the lines of depositors intending to withdraw deposits extended many feet on either side of the bank. From appearances a heavy draw is expected. A Run on the Banks of Kansas City, Mo. NEW YORK, May 15.-Dispatches received from Kansas City state that there is a run on all banks there to-day, but they are standing together and paying depositors twenty per cent of deposits.


Article from The Sedalia Weekly Bazoo, May 20, 1884

Click image to open full size in new tab

Article Text

chose to. At 245 p. m., Fisk & Hatch suspended. There was a slight run on the Bleecker street savings bank to-day which subsided at noon. At the Second National bank there is no excitement. G. S. Mott, general manager of the Bankers and Merchants Telegraph Company says the suspension of Dimmick and Co., will not involve that company. FISK & HATCH SUSPENDED. Stock markets were firm this afternoon until just before the close of business, when the suspension of Fisk & Hatch was announced and prices broke 1 to 5, and the market closed weak, although some shares showed evidences of strong support. The firm of Fisk & Hatch is composed of A. S. Hatch and Harvey Fisk Hatch, was recently elected president of the Stock Exchange by & unanimous vote. The firm have been the heaviest dealers in government bonds on the street and considered a very staunch conservative and reliable firm. They have been recognized as the fiscal agents of the Chesapeake and Ohio railroad and Elizabethtown, Big Sandy and Lexington road and have carried heavy amounts of the stocks of these roads while the market was declining. They have sons and sons-in-law in the stock business. The announcement of their suspension, CAME LIKE A THUNDERBOLT on Exchange. Wm. Lummis is now acting as president of the exchange owing to the disability of Hatch. It is surmised that the efforts to aid his son's embarrassed firm. Hatch has been prominent in religious matters and philanthropical measures and frequently heard as a lecturer on religious subjects. Fisk has just returned from a tour to Europe. The immediate result of their failure on the Stock Exchange was a decline of from one to five points. The weakness of the government bond market is explained by the suspension of this firm. It went to the wall during the panic of 1873, but resumed soon after. Their suspension was not announced until a few minutes before 3 o'clock, the closing hour of the Exchange, but the effect was an instantanious suspension. On the announcement of THE FAILURE, operators rusedh to the office of the failed firm and anxious inquiries were made by brokers as to how the firm stood. Fisk was seen by an Associated Press representative, but refused to say anything The doors were closed and the crowd outside increased. The suspension was not so unexpected, but its effect more than doubled, and the street is again excited, and brokers are rushing around wildly and the situation again assumes a troubled aspect. The supreme court granted an order giving the Chicago & Atlantic Railway company leave to prosecute action against Receiver J. L. Davis jointly with other parties as the company may be advised, for the purpose of obtaining the relief to which it was entitled relating to national or other securities heretofore belonging to the railway company, and held and negotiated or otherwise disposed of by the firm of Grant & Ward. The company alleges that in September 1883 it delivered to the former's Loan and Trust company, of this city, and George R. Bippus, of Huntington, Ind., as trustees, a mortgage on its road to secure the issue of coupon bonds of corporation to the amount of $5,000,000, known as secured mortgage bonds. In the autumn of last year the negotiation took place between the company and Grant & Ward for the negotiation of these bonds. It is charged upon the information THAT GRANT & WARD in violation of the agreement have separated and divided the notes and land into parcels, mixing them with other securities, and used miscellaneous lots in raising money for their own purposes. There was a slight run this morning on the Irish Emigrant against the bank of Chambers street two hundred of the depositors withdrew their accounts. There are 53,565 depositors. The president says he thinks they will gain about $10,000 by the withdrawals. Late this afternoon WM. H. SWEENEY, a banker on Nashua street, made an assignment. The amount involved is not large but may embarrass small manufacturers in the neighborhood of Nashua and Union street. This house suspended about a year ago. From the Tribune of Friday. The state ments of the members of Donnell, Lawson & Simpson Wednesday that their suspension was due wholly to the suspension of the Metropolitan National bank were not confirmed yesterday. The Metropolitan having resumed a similar action on the part of the banking firm was anxiously waited for and toward the close of banking hours, it began to be whispered around that THEIR FAILURE WOULD BE TOTAL. The bonds of the Cleveland, Youngstown & Pittsburg railway company were mentioned as & matter in which they had been most crippled. This was the security over which the Bank of the Republic directors had a difference about a month ago, which resulted in President Ford's resignation. The Bank of the Republic was one of the two banks with which Donnell, Lawson & Simpson did business, Simpson being a director in it. It was also said Seney had unloaded a lot of these bonds on the firm, and that their dependence on the Metropolitan was such they could not refuse to be thus used. At the firm's office, on the second floor No. 102, Broadway,