Capital Savings Bank - Washington, DC

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: February 5, 1931
Location: Washington, District of Columbia (38.895, -77.036)

Metadata

Model: gpt-5-mini
Short Digest: b7c2d61d

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health

Description

Article (dated 1931-02-05) describes a run on Capital Savings Bank in Washington triggered by rumors. No suspension, reopening, or receivership is mentioned. Other banks (Riggs National) supplied large cash to bolster the bank.

Events (1)

1. February 5, 1931 Run

Cause: Rumor Or Misinformation
Cause Details: Unfounded rumors triggered withdrawals when the bank opened; article headline says Rumors start run on Capital Bank.
Measures: Bank had about $2,000,000 in vaults when doors opened; Riggs National Bank furnished large cash (about $500,000 yesterday and further funds).
Newspaper Excerpt: RUMORS START RUN ON CAPITAL BANK ... There was close to $2,000,000 in cash in the vaults when the doors opened ... Riggs national bank had furnished half million dollars yesterday ...
Source: newspapers

Newspaper Articles (1)

1. February 5, 1931 The Californian Salinas, CA

Article from The Californian, February 5, 1931

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Article Text

RUMORS START RUN ON CAPITAL BANK WASHINGTON line and blocks long greeted officials of the building association, banking against which started by ruwhen the bank opened today The first deposit of $2193 by an electrical Businessmen were other deposits demonstrate confidence in the in stitution which other banks nounced There was close to $2,000,000 in cash in the vaults when the doors opened, including three quarters of million this morning by the Riggs national bank Riggs bank had furnished half million dollars yesterday terday's amounted to $800,000. bank officials said.