Emigrant Industrial Savings Bank

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: October 13, 1857
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: faa9b77d

Response Measures

Accommodated withdrawals

Description

Article (NY Herald 1857-10-13) reports a small run on the Emigrant Industrial Savings Bank; all claims were promptly met and depositors left satisfied. No suspension, reopening, or receivership mentioned. Likely part of broader 1857 panic-related runs on multiple savings banks.

Events (1)

1. October 13, 1857 Run

Cause: Macro News
Cause Details: Part of broader contemporaneous runs on savings banks in October 1857 (general panic/nervousness reflected across multiple banks); article gives no bank-specific scandal or a discrete misinformation trigger.
Measures: All claims/demands were promptly paid; bank met withdrawals to satisfy depositors.
Newspaper Excerpt: There was a smallrun on the Emigrant Industrial Savings Bank. The claims of all parties presenting themselves were promptly met, and they went away satisfied.
Source: newspapers

Newspaper Articles (1)

1. October 13, 1857 The New York Herald New York, NY

Article from The New York Herald, October 13, 1857

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Article Text

There was a smallrun on the Emigrant Industrial Savings Bank. Tae claims of all parties presenting themselve were promptly met, and they went away satisfied. Our reporter will visit the remainder of the savings banks during the day and lay their s'atements before the readers of the HERALD to-morrow morning. THE BROOKLYN SAVINGS BANK. The run upon the Brooklyn savings bank was continned yesterday, with a rush from the time of the open15g of the doors until they were closed. Rev. Mesurs. Outsiday and Turner expostulated with those of their Faith, but with little effect. Some of the depositors presended w heed what they said, and slinking back returned again as soon as the priest's faces were turned the other way. All the demands made were promptly paid, and there is no danger but all who want their money can get Et. There was more money drawn out on Saturday than yesterday. The persons who were most urgent in their demand were small depositors and tae poores cl 4807. The officers of the bank were compelled to partly close their doors at the usual hour of opening, and at 12 o'clock the follo wing notice was posted up:STATEMENT OF THE AFFAIRS OF THE BECOKLYN SAVINGS BANK ON THE let DAY OF JULY, 1857, BEING THEIR LAST SEMI-ANSUAL REPORT. Resources. Bonds and mertgages on property in the cities of New York and Brooklyn, worth d puble the amount loaped thereoa $1,058,500 00 State stocks and stocks and bonds of the cities of New York and Brooklyn, at their par value 1,276,781 00 Real estate, as estimated by the assessors 45,000 00 Cash on hand and cash funds at sight, since realtzed 101,830 93 Total $2,482,111 93 Liabilities. 2.972,567 65 Amount due to depositors $209 544 28 Surplus Being a surplus of two hundred and nine thousand five hundred and forty-four dollars and twenty-eight cents. The doors of the bank were closed merely for the purpose of keeping the crowd out, and only about fifty perDOES are admitted at once. Several depositers, who hai withdrawn their deposits on Saturday, re-deposited them yesterday morning. SOUTH EBOOKLYN SAVINGS BANK. The run upon this bank had entirely caased before the closing yesterday, the depositors baving sensibly con cluded that in these trying times there was no safer place for their money. The promptness with which every de. mand was met by this and the older ins itution (the Brooklyn Savings Bank), sided by the sober, second thought of the depositors, has brought about this happy result, no beneficial to shem. THE DECLINE IN FLOUR, AND CHEAP BREAD. In the Board of Councilmen last evening, Mr. Warner