Mechanics Savings Bank - Richmond, VA

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: November 19, 1910
Location: Richmond, Virginia (37.554, -77.460)

Metadata

Model: gpt-5-mini
Short Digest: 6298ca3f

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Contemporary article (Nov 19, 1910) reports a run on the Mechanic's/Mechanics Savings Bank in Richmond a few weeks earlier. The bank paid out cash to depositors and is described as in good financial condition. No suspension, receivership, or reopening is mentioned. OCR shows Mechanic's in the article but the provided name is Mechanics Savings Bank; treated as same institution.

Events (1)

1. November 19, 1910 Run

Cause: Rumor Or Misinformation
Cause Details: Run attributed to criticism/rumors spread by Editor John Mitchell (article mentions criticism as cause).
Measures: Bank stacked thousands of dollars to hand out to timid depositors; paid withdrawals in cash.
Newspaper Excerpt: MECHANIC'S SAVINGS BANK. Thousands of Dollars Stacked Up to Hand Out to Timid Depositors. The Mechanic's Savings Bank of Richmond, Va., of which Editor John Mitchell, Jr., is president, is in the best financial condition. When Chief Griffin... stated to a representative of The Bee that the Mechanic's Savings Bank of Richmond, Va., had a run on it, and it was unable to meet the demands of the depositors.
Source: newspapers

Newspaper Articles (1)

1. November 19, 1910 The Washington Bee Washington, DC

Article from The Washington Bee, November 19, 1910

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Article Text

MECHANIC'S SAVINGS BANK. Thousands of Dollars Stacked Up to Hand Out to Timid Depositors. The Mechanic's Savings Bank of Richmond, Va., of which Editor John Mitchell, Jr., is president, is in the best financial condition. When Chief Griffin, of the True Reformers, arrived in the city about two or three weeks ago he stated to a representative of The Bee that the Mechanic's Savings Bank of Richmond, Va., had a run on it, and it was unable to meet the demands of the depositors. The cause for this, said Chief Griffin, was the criticism made by Editor John Mitch-