3048. Savannah Bank & Trust Company (Savannah, GA)

Bank Information

Episode Type
Run Only
Bank Type
trust company
Start Date
May 20, 1884
Location
Savannah, Georgia (32.084, -81.100)

Metadata

Model
gpt-5-mini
Short Digest
12b1212c

Response Measures

Accommodated withdrawals

Description

Small depositor run occurred May 20, 1884; bank remained open, paid depositors, and confidence was restored by May 21. The run appears triggered by a broader flurry including a run on the Southern Bank and by misinformed depositors.

Events (1)

1. May 20, 1884 Run
Cause
Local Banks
Cause Details
Run seems to have been part of a wider flurry in which a run on the Southern Bank prompted misinformed depositors to seek withdrawals at the Savannah Bank & Trust Company.
Measures
Bank remained open extended hours (until 6 PM) to accommodate withdrawals; paid out small depositors and encouraged deposits to remain.
Newspaper Excerpt
There was a ripple at the Savannah Bank and Trust Company. The run upon the Savannah Bank and Trust Company began and ended. ... only fifteen or twenty small depositors, anxious to obtain their money, ranged in a line before the Paying Teller's window.
Source
newspapers

Newspaper Articles (2)

Article from Savannah Morning News, May 20, 1884

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Article Text

THE FLURRY SUBSIDING. THE SCENES ABOUT THE BANKS YESTERDAY. The Southern Bank Remains Open Until Six O'Clock to Accommodate Its Patrons - Confidence Restored and Only a Few Straggling Depositors Want Their Money-A Ripple at the Savannah Bank and Trust Company. The run upon the Southern Bank, which begun on Saturday, continued yesterday, although the excitement had greatly subsided. During the morning quite a number of depositors, mostly colored, and misinformed whites, congregated at the bank entrance and patiently awaited their turn to withdraw their deposits. The officials of the, bank gave verbal notice to all who called that in order that they might not be disappointed the bank would remain open until 6 o'clock in the afternoon, and that all who wished to draw their money out should be promptly waited upon in the order of their application. Notwithstanding the order keeping the bank open four hours longer than is customary, the number who drew their money was less than that reported up to 2 o'clock last Saturday, while the aggregate amount of money withdrawn was several thousand dollars less. From 2 o'clock until 6 o'clock only nine persons called for their deposits. During the day several amusing incidents took place. A reporter of the MORNING NEWS learned from several people that they were not afraid of losing their money. but that they wished it in order to take it out into the country, where they were intending to spend the summer. In à subsequent conversation with one of the bank officials the latter remarked that it was surprising that there were 80 many people with small means going traveling. None of them assigned as a reason for wishing to withdraw their money that they wished to buy a cow, or anything else, for that matter. No large sums of money were withdrawn, and after the bank closed last night the general opinion seemed to be that the run was virtually over. and that the excitement had permanently subsided. Horace A. Crane, Esq., Vice President of the bank, said: "If any one wishes their money the bank has the means to accommodate them. and we will, it necessarv. keep open again to-morrow until 6 o'clock in the afternoon." During the morning it was reported that a run had begun on the Savannah Bank and Trust Company, and a reporter at once hastened there. Ho found about fifteen or twenty small depositors,anxious to obtain their money, ranged in a line before the Paying Teller's window. Among the first who was given his money was a well known colored man who lives a short distance in the country. He was very much excited and wanted his $400 as soon as possible. One of the bank officials asked him what was the matter. "Nudding de matter. boss; but ize wucked hard fur dat money an' tink ize outter tek um out." 'Very well, you shall have your money," and the teller immediately counted out 400 silver dollars. "Now, boss, keep um dar." "Keep it here? What shall we keep it for? It's under your control now and we can not be responsible for it any longer." "I know all dat, boss, but I'ze gwine ter git a waggin. It am too heavy fur me ter tote away." "All right. Go get your wagon." The colored man returned in two or three minutes, but without the wagon, and. going up to the teller, said: "Boss. tek um back!" "Take back what?" "Dat money." "We don't want your money. You drew it out. It belongs to you. It is not safe here you seem to think. We cannot be taking it out for you and putting it back. We have not time to be doing that kind of business. You've lost two months' interest on it, and it won't pay you'to put it back, and it won't pay us for our trouble to be handling it in that way." "But, boss, ize no place ter keep um. Tek um back-tek um back. Dis bank good nuff fur me. Tek um back, please boss!" "Well, we'll take it back. provided you'll promise not to come here and take it out again to-morrow." "Yes, boss, ize not gwine ter cum back hereenny mo' When this anxious depositor left his face was wreathed with smiles, and nearlv all the others who had come to withdraw their money quickly left without asking for their's. That is the way the run on the Savannah Bank and Trust Company began and ended. "How is business generally ?" asked the reporter of the teller. "We have been doing a fine banking business for several days. There is a good demand for money at a good rate of percentage, but we are less anxious about getting the per cent. on loans than we are for having good security." "Then you think the panic is all over." "Yes, sir. The trouble IS ended."


Article from Savannah Morning News, May 21, 1884

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Article Text

THE SITUATION IN BANK CIRCLES. The Excitement Over and the Run Ceased Without Prospect of Renewal. The flurry in financial circles during the past few days, resulting in a run on the Southern Bank and threatening a slight withdrawal from the Savannah Bank and Trust Company, has about subsided. At the hour of opening the banks yesterday a straggling few gathered about the Southern Bank Savings Department and in turn withdrew their deposits, but the number was so small that hardly any further attention was required than upon ordinary days, and the officials were engaged in the discharge of the regular routine business without interruption. While there was no attempt te renew the run which virtually ceased on Monday the payment of deposits was continued all day yesterday up to the closing hour. Confidence now seems to have been fully restored, and from inquiry of the bank officials last night there seems to be no anticipation of a renewal of the excitement which has prevailed during the past week.