Mobile Savings Bank - Mobile, AL

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: July 9, 1884
Location: Mobile, Alabama (30.694, -88.043)

Metadata

Model: gpt-5-mini
Short Digest: 31ae3974

Response Measures

Accommodated withdrawals

Description

OCR/name: article spells People's Savings Bank; bank in prompt given as Peoples Savings Bank — treated as same. The run was met and the bank remained open (no suspension). The run was apparently triggered by local banking distress (Bank of Mobile had suspended the day before), so classified as caused by distress of local banks.

Events (1)

1. July 9, 1884 Run

Cause: Local Banks
Cause Details: Run occurred after the Bank of Mobile suspended the previous day; depositors withdrew from local banks.
Measures: All demands were promptly met; bank remained open two hours after usual closing time.
Newspaper Excerpt: There was a run on the People's Savings Bank and the Mobile Savings Bank by depositors. All demands were promptly met, and the former bank remained open two hours after the usual closing time.
Source: newspapers

Newspaper Articles (1)

1. July 11, 1884 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, July 11, 1884

Click image to open full size in new tab

Article Text

Run qn Mobile Banks. A Mobile (Ala.) telegram of Wednesday says: St. Francis street was well filled with people this morning awaiting the opening of the banks. There was a run on the People's Savings Bank and the Mobile Savings Bank by depositors. All demands were promptly met, and the former bank remained open two hours after the usual closing time. There is now no excitement to speak of in financial circles. All the banks are prepared for any emergency to-morrow, and confidence is being rapidly restored. Mr. Jones, assignee of the Bank of Mobile, which suspended yesterday, has not yet announced a statement of the bank's affairs, but is at work on the report to its creditors. The total amount due depositors 18 about $300,000. The assignee believes that all claims will be ultimately paid in full.