Pascoag Savings Bank - Pascoag, RI

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: April 27, 1878
Location: Pascoag, Rhode Island (41.956, -71.702)

Metadata

Model: gpt-5-mini
Short Digest: 5b76a0a8

Response Measures

None

Description

Article (Providence, Apr 27) reports a run affecting savings banks and a temporary injunction in the Pascoag Savings Bank case. No explicit statement that Pascoag suspended payments or closed; other banks are enforcing statutory notice. Classified as run_only.

Events (1)

1. April 27, 1878 Run

Cause: Local Banks
Cause Details: General run on savings banks in the area; widespread heavy withdrawals at multiple savings institutions.
Measures: Temporary injunction granted in the Pascoag Savings Bank case (court action); other banks enforcing statutory notice of suspension.
Newspaper Excerpt: The Supreme Court to-day granted a temporary injunction in the Pascoag Savings Bank case in Burrellville. There is unusual activity at nearly all the savings banks to-day, the soundest encountering the heaviest run.
Source: newspapers

Newspaper Articles (1)

1. April 29, 1878 The Daily Dispatch Richmond, VA

Article from The Daily Dispatch, April 29, 1878

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Article Text

Rhode Island. THE RUN ON THE SAVINGS BANKS. PROVIDENCE, April 27.-The Supreme Court to-day granted a temporary injunetion in the Pascoag Savings Bank case in Burrellville. There is unusual activity at nearly all the savings banks to-day, the soundest encountering the heaviest run. The Union and Jackson institutions have to-day decided to enforce the notice provided by law.