Peoples Home Savings Bank (San Francisco, CA)

Episode Information

Episode UID
2536772291099
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
savings
Bank ID
253677229 hash
Start Date
July 27, 1891
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1c31d5b9773617c8

Response Measures

None

Description

A later (1907) article states the bank 'failed' and was placed in receivership; contemporaneous items document a July 1891 run but do not explicitly describe the suspension date.

Events (3)
1. July 27, 1891 Run
Cause
Bank Specific Adverse Info
Cause Details
Press attention and criticisms that state bank examiners had not made a proper examination prompted depositor withdrawals.
Measures
Pacific Bank furnished coin to meet withdrawals; directors increased withdrawal limit to $300 and paid deposits as presented; bank kept open and paid depositors.
Newspaper Excerpt
A run began on the People's Home Savings bank this morning, and several thousand dollars were paid to depositors.
Source
newspapers
2. July 28, 1891 Other
Newspaper Excerpt
The People's Home Savings bank, on which a run was made yesterday, continued business as usual today, only a few depositors making application to withdraw their deposits. The bank commissioners are still conducting an investigation, but Commissioner Geberding ... stated that they ... (satisfied).
Source
newspapers
3. * Receivership
Newspaper Excerpt
By Associated Press. SAN FRANCISCO, Dec. 13.-Among the many to lose their savings in the crash of the California Safe Deposit and Trust company were people who suffered a similar misfortune when Dr. H. R. McDonald's bank, the People's Home Savings bank, failed over fifteen years ago. The bank was placed in the hands of a receiver...
Source
newspapers

Newspaper Articles (12)
1. July 28, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, July 28, 1891

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SCARED DEPOSITORS. Brief Run on the People's Savings Bank of San Francisco. SAN FRANCISCO, July 27.-A run began on the People's Home Savings bank this morning, and several thousand dollars were paid to depositors. Columbus Waterhouse is president oi the bank and B. o. Carr, secretary and manager. Dr. R. H. McDonald, president of the Pacific bank, is one of the directors. According to its report, July 1st, the People's bank had a capital stock of $1,000,000, of which one-third was paid up. There was due depositors, who numbered about eight thousand, $190,000. The bank's officers state that the institution ie perfectly solvent. Two of the San Francisco morning papers had directed attention to the bank in the past two days, contending that the State bank examiners had not made a proper examination of the bank's affairs. The state bank commissioners examined the condition of the bank today, and their report shows it to be good. The Pacific bank furnished enough coin to meet the run, and all the depositors who applied for their money were paid. The bank was kept open until 9 o'clock. During the day between $90,000 and $100,000 was paid out to depositors. The total number of accounts paid was 900, and 63 new accounts and $6000 in deposits was added to the business of the bank during the day.

2. July 28, 1891 The Morning News Savannah, GA
Article from The Morning News, July 28, 1891

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A RUN ON A BANK. Several Thousand Dollars Paid Back to Depositors. SAN FRANCISCO, CAL., July 27.-A run began on the People's Home Savings Bank to-day, and several thousand dollars was paid back to the depositors. The bank commissioners have begun an investigation of the bank's affairs. Columbus Waterhouse is president of the institution and B, O. Carr, secretary and manager. Dr. R. H. McDonald, president of the Pacific is one of Bank, the directors. to According its report July 1 the People's bank has a capital stock of $1,000,000. of which onethird is paid up. There is due the depositors, who number about 8,000, the sum of $100,000. The bank officers state that the institution is perfestly solvent. San Francisco morning papers have directed attention to the bank the past two days, contending that the state bank examiner had not made a proper examination of the bank's affairs.

3. July 28, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 28, 1891

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RUN ON A SAN FRANCISCO BANK. The People's Savings Pays $100,000 to Depositors-A Texas Institution Fails. SAN FRANCISCO, July 27.-A run began on the People's Home Savings bank this morning, and several thousand dollars were paid back to depositors. The bank commissioners have begun an investigation of the bank's affairs. Columbus Waterhouse is president of the bank and B. O. Carr secretary and manager. Dr. R. H. McDonald, president of the Pacific bank, is one of the directors. According to its report on July 1, the People's bank has a capital stock of $1,000,000, of which one-third is paid up. There is due the depositors. who number about 8,000, the sum of $190,000. The bank's officers state that the institution is perfectly solvent. Two of the San Francisco morning papers have directed attention to the bank in the past two days, contending that the state bank examiners had not made a proper examination of the bank's affairs. The state bank commissioners examined the condition of the People's Savings bank today, and their report shows the condition of the bank to be good. The Pacific bank furnished enough coin to meet the run on the savings bank today, and all depositors who applied for their money were paid. The bank was kept open until 9 o'clock, and during the day between $90,000 and $100,000 were paid out to depositors. The total number of accounts paid was 900. Sixty-three new accounts and $6,000 in deposits were added to the business of the bank during the day. NATCHITOCHES, La., July 27.-The Bank of Natchitoches has suspended. The assets are $70,000, liabilities, $27,000. PHILADELPHIA, July 27. - An evening paper asserts that Bank Examiner Drew has forwarded to the secretary of the treasury a lengthy statement showing that he kept the comptroller of the currency fully advised of the condition of the Keystone bank, and before the run in December called attention to its weak condition.

4. July 29, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, July 29, 1891

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A Sound Bank. SAN FRANCISCO, July 28.-The People's Home Savings bank, on which a run was made yesterday, continued business as usual today, only a few depositors making application to withdraw their deposits. The bank commissioners are still conducting an investigation, but Commissioner Geberding, in an interview this morning, stated that they

5. July 29, 1891 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 29, 1891

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Run on a 'Frisco Savings Bank. SAN FRANCISCO, CAL., July 27.-A run began on the People's Home Savings Bank to-day and several thousand dollars was paid back to depositors. The bank commissioners have begun an investigation of the bank's affairs. Columbus Waterhouse is president of the institution and B. O. Carr secretary and manager. Dr. R. H. McDonald, president of the Pacific Bank, is one of the directors. According to its report July 1st, the People's Bank has & capital stock of $1,000,000, of which one third is paid up. There is due depositors, who number about 8,000, the sum of $100,000. The bank officers state that the institution is perfectly solvent. The San Francisco morning papers have directed attention to the bank the past two days. contending that the State bank examiner had not made a proper examination of the bank's affairs.

6. July 29, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, July 29, 1891

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STOPPED THE RUN. Depositors Reassured by the Abundance of Coin. Business Comparatively Quiet at the People's Home Savings Bank - The Bank Commissioners Satisfied. Whatever uncertainty regarding the solvency of the People's Home Savings Bank prevailed in the minds of depositors on Monday has apparently been dispelled by the prompt action of the officials in facilitating the demands of those customers who require gold in return for the surrender of their pass-books. When the bank opened yesterday morning there were not more than a dozen depositors on hand, and these transacted their business quietly and withdrew. No tickets of admission were issued, there was no crowd and no excitement. The greatest number of people in the bank at any one time yesterday was twenty-six, exclusive of officials. Appearances in the banking office were similar to those of an ordinarily busy day. Before orening the doors yesterday morning, the Directors decided to increase the withdrawal limit to $300 accepting the usual ten days' notice for unpaid balances in excess of that amount. One paying teller was able to transact all business with reasonable rapidity, and after 2 o'clock so few customers appeared that it was decided to close the doors at 3 o'clock as usual. WITHDRAWALS AND DEPOSITS. The total number of depositors who visited the paying teller's desk yesterday was 267, of which 167 represented savings book accounts. The aggregate amount withdrawn was $43,000, of which $3000 was from commercial accounts. Against these amounts, the bank officials reported the opening of 29 new savings accounts and 7 commercial accounts and the issue of 5 term deposit receipts. The deposits yesterday aggregated $9000, and at the close of business the cash on band in gold and silver coin amounted to $291,000, SO that $350,000 in coin must have been deposited in the vaults of the People's Home since the commencement of business on Monday morning. All the bank officials were congratulating each other yesterday that the backbone of the run had been broken. They had worked at their posts upward of twelve hours on Monday, and after striking a balance in the evening, the employes were entertained at a quiet supper and each was presented with a gold coin by the management in recognition of his arduous services. SATISFIED OF THE SOLVENCY. Bank Commissioners Gerberding and Knight concluded their Investigations into the condition of the bank yesterday afternoon, and reiterated their previous declarations regarding its solvency. Commissioner Gerberding stated that all the investments of the bank had been carefully examined, and that all had been approved. No cancellation of the securities held will be required, and the Commissioners are satistied that the bank is thoroughly solvent. This in effect will be the report submitted to the Attorney-Generat. When asked whether there had been any technical violation of the law in the nature of the loans made by the bank to corporations in which Directors or stockhoiders of the bank are interested, the Commissioners declined to express an opinion regarding that point, on the ground that they are not lawyers, and that it would be for the Attorney-General, if he should deem it necessary, to pass upon the legality of these transactions.

7. July 31, 1891 The Mitchell Capital Mitchell, SD
Article from The Mitchell Capital, July 31, 1891

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Run on a San Francisco Bank. SAN FRANCISCO, July 29.-A run on the Peoples' Home Savings bank has begun by the depositors and several thousand dollars paid out. An investigation of the bank's affairs has been be. gun by the bank commissioners.

8. August 4, 1891 Cherokee Scout Murphy, NC
Article from Cherokee Scout, August 4, 1891

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THROUGH DIXIE. NEWS OF THE SOUTH BRIEFLY PARAGRAPHED Forming an Epitome of Daily Happenings Here and There. The Berkely land syndicate of Denver, Col., made an assignment Tuesday. Lia.bilities, $400,000; assets, $600,000. A Memphis, Tenn., dispatch says: Proceedings of the motion for a new trial in the King murder case were resumad Monday morning in the criminal court, A small boiler used in the repair shops of the Hill City oil mill, at Vick-burg, Miss., exploded Tuesday, fatally injuring Engineer Albert Spier and Fireman Albert Fisher. Last Saturday a battle between nogroes and Mailan workmen OR the Norfolk: and Western road, in Logan county, West Virginia, was fought, in which two Italians and one' negro were killed, and several wounded. Four convicts in the military prison at Fort Leavenworth escaped Tuesday by tunneling under the prison. (One of the four Was Baseball Pitcher Lucas, who made his third successful atte. upt to escape since his incarceration some months ago. Judge Cassady, of the Anniston, Ala city court, OD Monday, appointed Capt.. A. P. Agee receiver of the defunct Anpiston Saving and Safe Deposit Company. This was done at the request of the depositors, who held two or three meetings ecently to devise some way for obtaming oubts due them. Friday night the Citizens' bank of Jefferson, Texas, made an assignment. The bank closed business Saturday morn ing, not having funds to meet their creditors. Liabilities, $100,000 assets, $125,000. It is believed the depositors and creditors will receive the full amount of deposits and the bank will be able to pay. all its indebtedness. A Raleigh dispatch says: Dr. Henry V. Wilson, director of the United States fish commission, stationed at Woods Hall, Mass., was, on Monday, elected professor of biology in the University of North Carolina. He will be scientific expert to the North Carolina shell fish commission. His election makes ั valuable addition to the faculty of the University of North Carolina. A dispatch of Friday from Sacramento, Gal., says: State Controller Colgan has refused to draw his warrant for the amount due as office rent for California's world's fair commission. He doubts the constitutionality of the legis lative act appropriating $300,000 for the California exhibit at the world's fair, and W ishes to have the question decided by the su premo court before he pays out any money. A run begans ON the People's Horne Savings bank at San Francisco, Monday, and several thousand dollars was paid back to the depositors. The bank commi sioners have begun an investigation of the bank's affairs, According to its report July 6th. the People's bank has a capital stock of 000,000, of which one-third is paid up. There is due depositors, who number about eig ut thousand, the sum of $100,000. The bank officers state that the institution is per-

9. August 5, 1891 New Ulm Weekly Review New Ulm, MN
Article from New Ulm Weekly Review, August 5, 1891

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MISCELLANEOUS NOTES. THE largest grain fleet of the season arrived at Buffalo. The receipts were 1,500,000 bushels of wheat and 400,000 bushels of corn. A NEW YORK Herald Philadelphia special says that the books of the Keystone bank show that the $945,000 represented by the due bills actually went into the bank. the armfor plate mill of Carnegie, Phipps & Co., Pittsburg, an armor ingot 80 inches wide and 23 inches thick, weighing 32,000 pounds, the largest armor plate ingot rolled in this country, has just been cast. THE agents representing companies controlling the interior and Western anthracite coal markets held their monthly meeting at New York and decided notto reduce prices. A CROP of forced peaches from Hunterdon and Warren counties, N. J., is being put upon the market. The good peaches will be a large crop, many of the orchards yielding an average of 1,000 baskets. At San Francisco, a run began on the Peoples Home Sayings Bank, and several thousand dollars was paid back to depositors. The bank commissioners have begun an investigation of the bank's affairs. The bank's officers state that the institution is perfectly solvent. AT San Francisco in the United States circuit court Judge Hawley dissolved an injunction restraining Chief Engineer Scannell from complying with an order of the San Francisco board of supervisors requiring him to remove all over head electric wires. THE Missouri is rapidly eating away a narrow neck of land near St. Joseph, Mo. If this occurs the course will be changed. therailroad bridge rendered useless and the city cut off from railroad communication. THE lead trust is in progress of reorganization. The plan provides for the scaling down of the capital from $87,000,000 to 30,000,000, of which half will be 7 per cent preferred stock and the other half common stock, and also authorizes the issue of $3,000,000 in bonds. The reorganized corporation is subject to the New Jersey laws,

10. August 6, 1891 The Sun Morris, MN
Article from The Sun, August 6, 1891

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MISCELLANEOUS NOTES. THE largest grain fleet of the season ar. rived at Buffalo. The receipts were 1,500,000 bushels of wheat and 400,000 bushels O: corn. A NEW YORK Herald Philadelphia special says that the books of the Keystone bank show that the $945,000 represented by the due bills actually went into the bank. Arthearmor plate mill of Carnegie, Phippe & Co., Pittsburg, an armor ingot 80 inches wide and 23 inches thick, weighing 32,000 pounds, the largest armor plate ingot rolled in this country, has just been cast. THE agents representing companies controlling the interior and Western anthra. cite coal markets held their monthly meeting at New York and decided not to reduce prices. A CROP of forced peaches from Hunterdon and Warren counties, N. J., is being put upon the market. The good peaches will be a large crop, many of the orchards yielding an average of 1,000 baskets. At San Francisco, a run began on the Peoples Home Sayings Bank, and several thousand dollars was paid back to depositors. The bank commissioners have begun an investigation of the bank's affairs. The bank's officers state that the institution is perfectly solvent. AT San Francisco in the United States circuit court Judge Hawley dissolved an injunction restraining Chief Engineer Scannell from complying with an order of the San Francisco board of supervisore requiring him to remove all over head electric wires. THE Missouri is rapidly eating away a narrow neck of land near St. Joseph, Mo. If this occurs the course will be changed, the railroad bridge rendered useless and the city cut off from railroad communication. THE lead trust is in progress of reorganization. The plan provides for the scaling down of the capital from $87,000,000 to 30,000,000, of which half will be 7 per cent preferred stock and the other half common stock, and also authorizes the issue of $3,000,000 in bonds. Thereorganized corporation is subject to the New Jersey laws. THE Wrought Steel Wheel Company, of Trenton, N. J., filed articles. The capital stock authorized is $2,000,000, and the in. corporators are William P. Shinn, of Pittsburg; Smith M. Weed, George W. Bentley, Edward A. Smith, and Nicholas W. Nivan, of New York, James W Roach, of Camden. The company will manufacture wrought solid steel car wheels for railroads. PHIL ARMOUR, it is claimed, has made the following proposition to the German officials. Provided the embargo on American pork is raised, he will establish a plant at Tolleston, Ind., which for point of cleanliness cannot be excelled anywhere; secondly, he will pay the salary of an inspector to be stationed at the yards and to be appointed by the German government; and, thirdly, in order that there can be no chance of contamination, he will ship the hog products to Germany in a special steel vessel.

11. August 6, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, August 6, 1891

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THE San Francisco News-Letter says that the lace run on the People's Home Savings bank, of San Francisco, was engineered by Col. J. H. Woodard, at present connected with our esteemed contemporary, the Times. According to that journal Woodard was sent up to San Francisco on mischief intent by the Los Angeles Cable company. As the News-Letter's story goes, "Jayhawker" put the "comether" on the Examiner and Chronicle, and the bank commissioners as a result made a very thorough investigation, with the very apparent result of a boomerang to Wood-

12. December 14, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, December 14, 1907

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VICTIMS OF FORMER BANKING DISASTER ARE AGAIN LOSERS By Associated Press. SAN FRANCISCO, Dec. 13.-Among the many to lose their savings in the crash of the California Safe Deposit and Trust company were people who suffered a similar misfortune when Dr. H. R. McDonald's bank, the People's Home Savings bank, failed over fifteen years ago. The bank was placed in the hands of a receiver and the depositors were slowly receiving the return of their money. Over $7000 of such funds, being held until a dividend came due, was on deposit with the California Safe Deposit and Trust company and the claimants against the old bank can now only receive their pro rata in the settlement of the safe deposit company's affairs.