Bowery Savings Bank - New York, NY

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: October 3, 1876
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: e0049ad6

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Newspaper describes depositors withdrawing funds and 'fright' among some depositors but no suspension or closure; bank officers stress strength. No concrete misinformation episode or corrective message is described, so treat as a run driven by nervousness/rumors.

Events (1)

1. October 3, 1876 Run

Cause: Rumor Or Misinformation
Cause Details: Deposit withdrawals driven by depositor 'fright' and a general flurry; article frames it as a wave of nervousness rather than a specific solvency event.
Measures: Bank officers publicly reassured depositors and exhibited the bank's assets; no suspension or special payment restrictions mentioned.
Newspaper Excerpt: Some were there to withdraw their deposits, and others were depositing their surplus earnings... there are some who are frightened. Here, for instance, Is one who has drawn his entire savings for a number of years, amounting to $2,116.
Source: newspapers

Newspaper Articles (1)

1. October 3, 1876 The Sun New York, NY

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Article Text

THE SAVINGS BANK FLURRY EVEN THE STRONGEST OF THE INSTITUTIONS ATTACKED Facts and Figures from which all Concerned can Make their Own Deductions- What is Said by the Officers of the Banks.-Two Stormy Meetings of Depositors Last Night. The old Bowery Savings Bank's depositors filled the little room in Grand street temporarily provided for their accommodation yesterday. Some were there to withdraw their deposits, and others were depositing their surplus earnings. When asked the probable effect of the run upon his bank the President said "Why, sir. I know of no panic. Just walk in here with me. and you will see more people depositing than are drawing. True, there are some who are frightened. Here, for instance, Is one who has drawn bis entire savings for a number of years, amounting to $2,116. But he will bring it back 88 soon as his fright is over. The assets of this bank. as shown in the latest exhibit. are: