Article Text
Run on n Bank. MINNEAPOLIS, May 15.-A run on the Farmers and Mechanics Savings' bank began this morning chiefly by small depositors. It is considered one of the strongest banks in the state. No fears are entertained for its safety.
Farmers & Mechanics Savings Bank (Minneapolis, MN)
Episode Information
- Episode Type
- Run Only
- Start Date
- May 15, 1893
- Location
- Minneapolis, Minnesota (44.980, -93.264)
- Bank Type
- state
- Routing Number
17-0051
Metadata
Events (1)
1.
May 15, 1893
Run
- Cause Details
- No specific trigger given in articles; small depositors initiated withdrawals though bank described as strong.
- Newspaper Excerpt
- A run on the Farmers and Mechanics' Savings bank began this morning, chiefly by small depositors.
- Source
- newspapers
Newspaper Articles (10)
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Article Text
Confusion of Names. MINNEAPOLIS. Minn.. May 15.-A run on the Farmers & Mechanics' Savings bank began this morning. chiefly by small depositors. This is considered one of the strongest banks in the state. There are no fears for its safety.
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Article Text
Run on a Minneapolis Bank. MINNEAPOLIS, May 15.-A run on the Farmers' & Mechanics' Savings bank began this morning, chiefly by small depositors. It is considered one of the strongest banks in the state. There are no fears of its safety.
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Article Text
A Run on the Farmers' and Mechanics' Bank. By Southern Associated Press. MINNEAPOLIS, May 15 -A run on the Farmers' and Mechanics' Savings Bank began this morning, and at 11 o'clock there was a line of one hundred small depositors waiting to draw their money. The bank is one of the most prosperous and solid in the State, and no fears are entertained for its safety. The officers have $80,000 in cash in the vaulte, and two million more in easily convertible bonds, now quoted at a premium. It is not possible to draw out more than $100,000 a day, SO that the bank is able to stand the run for a month. The same bank had a run six years ago, and withstood it well. It has over 20,000 depositors. Total deposits six and three quarter millions
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Article Text
RUN ON A BANK. Minneapolis, Minn., May 15.-The run on the Farmer's and Mechanic's Savings bank began this morning, chiefly by small depositors. It is considered one of the strongest banks in the state. There are no fears for its safety.
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Article Text
A Minneapolis Bank Suspends. MINNEAPOLIS, May 15.-The Farmers and Merchants' State Bank has suspended payment and the following notice is posted on the doors: Pending n run this bank has suspended payment, but it is expected to resume in a few days. Its statement shows: Capital stock, $60,000; surplus, $7,000. The suspension causes no surprise, as it had been looked on as weak for some time. It should be noted that this is not the Farmers' and Mechanics' Savings bank, on which a run began this morning. chiefly by small depositors. It 18 considered one of the strongest banks in the state and no fears are entertained for its safety.
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A Small Failure. MINNEAPOLIS, May 16.-The Farmers and Merchants State bank has suspended payment. The bank was a very small one, its capital being but $60,000 and its surplus about $7,000. It should be noted that this is not the Farmers and Mechanics Savings bank, on which there is a run, but which is perfectly solvent.
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Article Text
Run on a Bank. MINNEAPOLIS, May 15.-A run on the Farmers and Mechanics' Savings bank began this morning chiefly by small depositors. It is considered one of the strongest banks in the state. No fears are entertained for its safety.
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Article Text
The Bank Safe-Receiver Asked For. MINNEAPOLIS, Minn., May 17.An application was made in the District court this morning to have a receiver for the Northwestern Guaranty Loan company appointed. The run on the Farmer's and Mechanic's Savings bank is about over, only a few of the more ignorant depositors appearing at the paying teller's windows this morning. The bank has come out with flying colors, and faith in its solidity is renewed.
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Article Text
A Small Failure. MINNEAPOLIS, May 16.-The Farmers and Merchants State bank has suspended payment. The bank was a very small one, its capital being but $60,000 and its surplus about $7,000. It should be noted that this is not the Farmers and Mechanics Savings bank, on which there is a run, but which is perfectly solvent.