22049. Rutland Savings Bank (Rutland, VT)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
May 29, 1893
Location
Rutland, Vermont (43.611, -72.973)

Metadata

Model
gpt-5-mini
Short Digest
9ca5b320

Response Measures

Accommodated withdrawals

Description

Multiple contemporaneous newspaper reports (May 29–June 2, 1893) describe repeated runs on the Rutland Savings Bank with large withdrawals ($80–88k) but explicitly state the bank met demands, was strong, and there is no mention of suspension, receivership, or permanent closure. Causes cited are panic from other failures (Vermont Investment Company, Orwell failures) and general alarm from western failures.

Events (1)
1. May 29, 1893 Run
Cause
Local Banks
Cause Details
Depositors alarmed by recent failures elsewhere (Vermont Investment Company, Orwell failures) and other western failures, prompting withdrawals.
Measures
Bank met all demands, was prepared for any emergency; paid out withdrawals (reports note $83,000–$88,000 withdrawn) and later the run subsided.
Newspaper Excerpt
RUTLAND, VT., May 29.-The run on the Rutland Savings Bank was resumed this morning, and is assuming a more serious turn. ... The bank is prepared for any emergency.
Source
newspapers

Newspaper Articles (11)
1. May 30, 1893 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, May 30, 1893

Click image to open full size in new tab

Article Text

NEWS NUGGETS. Brought by the Wires From the North East South and West. run on the Rutland, Vt. Savings bank The was resumed Monday morning official report on the trial trip of at the 21 cruiser The New York places her speed knots. B. Cox, wool dealer. 568 said Atlan- to Frank Boston. has failed. He 18 nominal owe tic ave., about $60,000 and to have assets of $68,000. New Jenkins, the health officer at from Dr. Monday received a cablegram cholera York Dr. Nash at Hamburg, stating the has broken out there Smith says Edwin Booth passed morn- a Dr and was better Monday Saturday good night The reports of his relapse, ing. were greatly exagerated. been officially declared at to Ham have It has clerk who was supposed Sunday been burg suffering that a from diarrhar died night of Asiatic cholera. N. Ports Hardware Co., Fostoria, was The which ex-Secretary Foster 850,000; Ohio, has assigned. Liabilities terested assets in considerably more. his wife William Grabam and the Central Rev. walking to their home on were while track near Milner. Ga. Sunday I overtaken R. R. by a train and crushed to death Arrangements have been made steamers to ship gold by the mid-week 81,000. $2,500,000 York in addition to the sailing 000 from already New engaged for the Aller Tuesday Lackawanna Steel Company's 8125 north The at Seranton, Pa. was damaged works will I 000 mill by fire to Monday. shut down The for entire several months out of work. be Twelve obliged hundred hands will be thrown charges against Bishop Boacum Neb., Formal Catholic diocese of Lincoln, Satoll of the been forwarded to Mgr. incon have is charged with tyranny of the t petence, The bishop disobedience and violation Baltimore degree. f body of Charles S. Rogers. works presi it dent The of the Northwestern suicide cordage on the I St. Paul, has who been committed found in the Mississipp the n 19th inst., two and one-half miles below death. " river, bridge from which he leaped to his t of afternoon A. A. Zimmerman two Sunday New York Athletic Club, won the bicycle race# at Paris. He de at 500 the feated amateur Vogt, the Scotch champion, race defeat and in the 1000 metres of Ireland n metres, Ducross, the champion of t and ed both Dervel, the amateur champion France. schedules of G. A. Yates. N.Y. whole who The coal merchant, Rochester, The sole failed were filed Monday value recently total assets of the nominal total of e show actual value. 82.616.616; contingent $3,913,984, 82,757,040 $4,118. bilities, indebtedness, $1,361,823; total liabilities e f 863. There are at least ten thousand homeles Moor people in East Carroll, . and hungry West Carroll and Madison privations parish. to house, and the suffering and With Louisiana, undergoing are appalling. elevations. the In they exception are of a few small of the d whole the of the northeastern portion state is under water. f o The heaviest rainfall in many Mississippi years oc a throughout Tennessee. Saturday night a is t The whole country is to 1 curred Arkansas Sunday. and Louisiana done flooded the incalculable damage has been are out e All of the small streams rise in the h planters. banks and another big Francis and II Mississippi, of their Arkansas, St. y White rivers is expected. r, Guzman, the Nicaraguan minister that Dr. no official information States D has received desire the United country n. the Nicaraguans protectorate over that however, S. 8: to establish Guzman a is of the opinion. under Dr. will be the ultimate issue there of that such condition of affairs existing he saye the Nicaragua canal project, and te The connects the two countries, if the its y interests closely will be greatly enhanced e United States is given supremacy rs to night. at Roanoke, Ind., wife, Chris Saturday Haberkus murdered his 75 years then topher himself. Haberkus was a e killed his wife 70. She was a Catholic calling upon but to old. to Catholic women did call be be objected Two of the church women words d. her. after they had left some angry At mil and between the aged couple. Haberkum je passed while his wife was asleep. severed her night. her room and nearly to the bad and entered her body. He set fire his ay ee head then from killed himself by cutting his rs throat. the police court at Newbury port Albert Mills In Monday. Col. J. of the its Mass., with the embezzlement appear be charged Mills. did not put in an counsel he of A charges the ance Victoria capais was nor was issued he represented for Milla's embezzlement by arrent. A of he ve the warrant doubtful if any attempt will only 825, him outside the y, to it arrest is searched state to be made of Col. Mills was trac The residence as a matter of form. obtained. but no of Monday his whereabouts could be the great sire of trotting home race Dictator, died at Ashland. Ky. the & Son. of horses, Henry Clay MeDowell II. ful his owners. Lexington, of old age, Friday. bring by near foaled 30 years ago, and, Clars. by was Hambletonian. dam to Dax Rysdyk's Star. was a full brother 00 horap to beat Flora V ter, the Dictator was a #60 ol. American As s sire first wonderful Temple 48 a time. of race horses, having Juy progenitor in the list, including ly and daughters 2.10 trotting and 2.06 1.4 pacing Nancy ow Eye-See, He was also the sire of the dam of Hanks, 2.04. as he

2. May 30, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, May 30, 1893

Click image to open full size in new tab

Article Text

BRIEFLY TOLD. Edwin Booth is reported as slightly better. The run on the Rutland, Vt.. savings bank continues. Colonel Z. Albert Mills, charged with embezzlement is still missing. Frank B. Cox, wool dealer, of Boston, has failed. He Is said to owe about $60,000, and to have nominal assets of $68,000. The N. Ports Hardware Company, in which ex-Secretary Foster was interested has assigned. Liabilities, $50,000; assets considerably more. Cyrus Kelley, a brakeman on the North Berwick freight of the Boston & Maine, was badly injured at Haverhill yesterday, being knocked from a car while passing under a bridge. Arrangements have been made to ship $2,500,000 in gold by the mid-week steamers, in addition to $1,000,000 already engaged for the Aller sailing today. The New York Herald's Panama special says it is reported that 5000 residents of Pasto, Ecuador, have suffered from influenza. One-fourth of the cases have proved fatal, and the situation is said to be frightful.

3. May 30, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, May 30, 1893

Click image to open full size in new tab

Article Text

CONCERNING BUSINESS AND FINANCE. ROCHESTER, N. Y., May 29. ).-The Yates schedules were filed this morning. They show total assets, nominal value $3,913,984.59; actual value $2,616,626.30; total indebtedness $2,757,040.17; contingent liabilities $1,361,823.76; total liabilities $4,118,863.93. The secured liabilities amount to $1,250,323.94. The assets hypothecated to secure this indebtedness leave only about $500,000 with which to meet unsecured and contingent claims. The unsecured liabilities amount to $1,506,716.23, and the contingent as already stated to $1,361,823.76. RUTLAND, VT., May 29.-The run on the Rutland Savings Bank was resumed this morning, and is assuming a more serious turn. When the doors were opened at 9 o'clock a number of persons were waiting, and the number has been considerably increased since. The bank is prepared for any emergency. CHICAGO, May 29. - The formal assignment of the embarrassed firm of Weaver, Getz & Co., coal dealers, was filed this morning. Liabilities are scheduled at $250,000 and assets at $200,000. NEW YORK, May 29.-Arrangements have been made to ship $2,500,000 gold by the mid-week steamers in addition to the $1,000,000 already engaged for the Aller. NEW YORK, May 29.-Lazard Freres will ship $1,000,000 gold on the Aller, which sails to-morrow. FOSTORIA, O., May 29.--Secretary Foster desires to announce through the press that he is physically unable to answer the hundreds of letters and telegrams of sympathy which have poured in on him during the past few days. He takes this method of making a general acknowledgment of these kind expressions. ST. PAUL, MINN., May 29.-A special from Fargo, N. D., says the National Bank of Ashley Meads was closed to-day by the National Bank Examiner. The First National Bank of Lakoan, N. D., also failed. Indebtedness does not exceed $60,000, with assets five times that amount. CHICAGO, May 29.-The Commercial National Bank has begun suit here to foreclose a mortgage for $500,000 given by the Chicago and Eastern Illinois Railroad Company.

4. May 30, 1893 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, May 30, 1893

Click image to open full size in new tab

Article Text

Run on a Savings Bank. RUTLAND, Vt., May 29.-There - was a run on the Rutland Savings Bank, of this city, the first one in Vermont for many years. A few depositors, alarmed by the recent failures in the West, the failure of ex-Secretary Foster and the Vermont Investment Company, are drawing out their money. All demands are being met, as the institution is sound.

5. May 31, 1893 The Indiana State Sentinel Indianapolis, IN
Article from The Indiana State Sentinel, May 31, 1893

Click image to open full size in new tab

Article Text

Business Notes. The run on the Rutland (Vt.) savings bank was resumed and is assuming a more serious turn. A. Steinau, a prominent jeweler of Cincinnati, has assigned to Albert Mack. Assets, $65,000; liabilities, $72.000. The application of William Skerrett and others for the appointment of a receiver for the Detroit street car employes' association was granted. The federal grand jury returned an indictment charging Frank M. Dorsey with falsifying the accounts of the defunct First national bank of Ponca, Neb. Arrangements have been made to ship $2,500,000 gold by the mid-week steamers in addition to the $1,000,000 already engaged for the Aller, sailing to-day. The formal assignment of the embarrassed firm of Weaver, Goets & Co., coal dealers, was filed at Chicago. Liabilities are scheduled at $250,000 and assets at $200,000. John H. Stone and Louis W. Firth, dealers in tailors' trimmings at New York, assigned to Resolvid Gardner, with preferences to John Armstrong of Fox Lake, Mino., for $10,000. At Rochester, N. Y., the Yates schedules were filed. They show total assets, nominal value, $3,913,984.59; actual value, $2,616,616.30; total indebtedness, $2,707,040.17 contingent liabilities, $1,361,823.76; total liabilities, $4,118,863.

6. May 31, 1893 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, May 31, 1893

Click image to open full size in new tab

Article Text

Rutland's Savings Bank Flurry. RUTLAND, Vt., May 81.-While the run on the Rutland Savings bank is ended, there is some anxiety as to the result after a holiday. The total amount drawn out during the scare foots up $88,000. The bank deposits amount to $8,800,000.

7. June 1, 1893 The Princeton Union Princeton, MN
Article from The Princeton Union, June 1, 1893

Click image to open full size in new tab

Article Text

RUN ON A BANK. Rutland, Vt., May 30.-The run on the Rutland Savings bank has been resumed and } is assuming a more serious turn. When the door; were opened at 9 o'clock a number of persons were waiting, and the number has been considerably increased since. The bank is prepared for any emergency.

8. June 2, 1893 Middlebury Register Middlebury, VT
Article from Middlebury Register, June 2, 1893

Click image to open full size in new tab

Article Text

he Orwell failures had the result of sing a run upon the Rutland savings k. It began on Friday and continued ough Monday. About $83,000 was wn out. The bank is by all accounts of the strongest in the State, and re appears not to have been the slightreason for the run upon it. The fooldepositors who got scared lost a conerable amount of interest and are bably wondering what on earth they 11 do with their money now that they e it.

9. June 3, 1893 Baxter Springs News Baxter Springs, KS
Article from Baxter Springs News, June 3, 1893

Click image to open full size in new tab

Article Text

THE EAST. As NEW anti-Tammany organization has been launched in New York city. It is called the "citizens' democracy." FRANCIS WEEKS has been removed from the trusteeship of the estate of William Edgar Howland at New York. He had stolen the entire $500,000. MR. AND MRS. CORNELIUS VANDERBILT had a narrow escape from death in a runaway. THE item stating that the Seaboard National bank of New York was in difficulties was a mistake. It was the National Deposit bank that was in difficulties with the Seaboard National, the latter having thrown out the Deposit bank's paper. A FIRE burned the store of T. P. & D. Runyon, the ice house. stables, wagon houses and ships of John Collier, the double brick tenement house of John Deinzer and a number of other small buildings at New Brunswick, N. J. Loss, $125,000. BERNARD H. GUETERBACH. city editor of the Staats Zeitung, of New York, committed suicide by shooting himself through the breast. A NEW YORK judge has decided that pending the enforcement of the Geary law no Chinaman who has been arrested can be kept in jail. THE bloom-mill, engine-room and boiler-house of the Lackawanna Steel Co.'s north mill at Seranton, Pa., were destroyed by fire. Loss, $250,000. ZIMMERMAN, of the New York Athletic club, won two amateur races at Paris on the 29th. IT is reported that the bankers of New York have formed a combination and agreed among themselves to bid only 95 cents for the Cherokee bonds. THERE was a run on the Rutland, Vt., savings bank. HIRAM KEMPINSKIE, Bridgeport, Conn., is to sue the Russian government for damages. AT Tyrone, Pa., the train of Walter was many Mains' persons circus and seriously wrecked, wounding killing four others. A number of the animals were killed and some escaped. Gov. FLOWER, who has had the cases of Mortello and Osmond, the murderers, under consideration for some time, decided to let the law take its course and they will both be killed by electricity.

10. June 7, 1893 Herald and News Randolph, VT
Article from Herald and News, June 7, 1893

Click image to open full size in new tab

Article Text

State of Vermont. Its News Condensed and Rewritten for Our Readers. The grand list of St. Albans for the year 1893, is $40,252.94 Bristol has 50 5-8 miles of highway, according to the measurement of the selectmen. Horatio Eddy of Chittenden was a thrown out of his wagon and had his collar bone broken. 11 Mr. E. W. Sturtevant, Lay college, t. Revere Beach, been called to Hartland Cong'l church. The Bennington County Conference of Congregational churches is to be held in Bristol, June 7 and 8. Gilbert Hart of Detroit, Mich., is in Wallingford. Mr. Hart will build a library, which he will present to the town. The engagement is announced of his Farrand S. Stranahan, son of Lieut. Gov. Stranahan of St. Albans, to Miss Gertrude Bruce. a Saturday, William Kennison, was thrown from into a his Mendon wagon farmer, cobblestone gutter and fatally injured. The late Cashier Marshall of Brattleboro left a will, and the widow is made executrix. Mr. Marshall's life was insured for $21,000. Court Burlington, No. 83,211, of the Ancient Order of Foresters of America, was organized recently by Mr. Chas. Ryle and aids from Granite City Court of Barre. While H. Senical was helping to unload or a block of the dump Pittsford, marble Friday, at in it him, He leaves a large fell - upon Burditt quarry killing family. him instantly. Carver of New York, who was fitting a summer in B. F. up residence suicide by Manchester, committed from a tourth-story jumping had window. shown For several months he symptoms of insanity. Arrangements are being made for a State contest at hall June 2. Six a desire to land city prize-speaking enter-Saxton's schools the have RutBurr semof Manchester, inary expressed River academy, Black Burton River acadof Ludow, Swanton school and emy Rutland High High the Rutland school, English and Classical institute. G. R. Wales of Washington, Examiner for the Civil Service Comconducted an of for Government applicants mission, examination offices who in were Burlington, had filed applications, recently. 66 Out of candidates 70 present. Of this number, 52 were for mail as as supersired the positions railway clerks,three service, four dein the Indian service, two as one as intendents special pension examiners and copyist. In the United States Circuit Court Windsor, the case of William JohnCanadian comthree days' pany son at vs. occupied Pacific Railway time. road John- and an of the son had was received employe injuries resulting Defendant in paid the amputation of a leg. of sickness, of was the at expenses damages point and the issue. question A verdict was rendered for the plaintiff for $8,125. The cost of the land and buildings or for of past the University Vermout official the as taken from the report of of the the H States as United year, the president government, college is to follows: Land for experiment station, th 120 acres. $13,308.80 buildings thereon. 16,463.32; mechanical and di electrical buildings, $12,488.77 and the apparatus is valued at $12,000. pe scare some of at tu A in the among Savings the Bank depositors Rutland has th caused a run, and about $60,000 have in been drawn out. It seemed to start CO from the recent failure of the Vermont of th officers that the dr bank Investment Company say Orwell. Orwell mat The of did not touch them beyond one which was Br has about M ter $5,000-note The bank 80,000 affected depositors by it the and $2,700,000 deposits and has been ins reckoned as strong as any concern in the State. en The total amount of maple sugar sel tested and to be tested at the laborafor tory at Montpelier is estimated at por 4,000,000 pounds, on which a bounty H of will be paid to in New unt Vermont, $70,000 Hampshire producers and Last Maine. He This is an average yield. year, of was paid on some Blank Br bounty pounds. applications 2,250,000 for the tio of 1894 have to all rep season all licensed producers been of blank 1893, sent and out A makers wishing applicaan for licenses season at once to lee sugar should tions apply for next James The E. French, Collector, Montpelier.

11. June 9, 1893 The Iola Register Iola, KS
Article from The Iola Register, June 9, 1893

Click image to open full size in new tab

Article Text

THE EAST. THERE was a run on the Rutland, Vt., savings bank. HIRAM KEMPINSKIE, Bridgeport, Conn., is to sue the Russian government for damages. AT Tyrone, Pa., the train of Walter Mains' circus was wrecked, killing four persons and seriously wounding many others. A number of the animals were killed and some escaped. Gov. FLOWER, who has had the cases of Mortello and Osmond, the murderers, under consideration for some time, decided to let the law take its course and they will both be killed by electricity. PURCELL THOMAS, an aronaut, attempted to leap from the top of a Buffalo, N. Y., hotel with only an ordinary umbrella as a parachute and was dashed to death. MARIE NEVINS BLAINE was quietly wedded to Dr. William T. Bull at New York city. ANOTHER long and bitter struggle over the question of wages in the great iron district of Pennsylvania seems inevitable. VICE PRESIDENT BLAKE, of the Domestic Sewing Machine Co., has made applicatian to the court of chancery at Newark, N. J., for the appointment of a receiver. AT the Pacific Mail meeting at New York a new board of directors was chosen, who elected Colis P. Huntington as president to succeed George Gould. AT the Y. M. C. A. anniversary in Boston Oliver Wendell Holmes was present and read a poem written for the occasion. FOUR cases of small-pox have been discovered by a health board inspector in the family of William Votopken, a Bohemian of New York city. ANDREW CARNEGIE, in an article in the North American Review, predicts a union of all English-speaking nations. THE Rhode Island senate and house are unable to agree and Gov. Brown has issued a proclamation proroguing the legislature. THE Massachusetts house has passed a bill providing against discrimination by barbers on account of race and color.