Bank of Maui - Wailuku, HI

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: April 12, 1917
Location: Wailuku, Hawaii (20.890, -156.501)

Metadata

Model: gpt-5-mini
Short Digest: bae36452

Response Measures

Accommodated withdrawals

Description

Newspaper (Honolulu Star-Bulletin) reports a localized run among the Portuguese in Maui on April 12, 1917 caused by an unfounded rumor the U.S. would seize funds of foreigners. The Bank of Maui and its branches met withdrawal demands; no suspension or closure is reported.

Events (1)

1. April 12, 1917 Run

Cause: Rumor Or Misinformation
Cause Details: Rumor among the Portuguese that the U.S. government would seize funds held in banks in the names of foreigners, prompting withdrawals.
Measures: Bank of Maui and its branches met the demands as fast as they came (paid out cash to depositors).
Newspaper Excerpt: the banks of the territory have probably more money than they ever held before, Maui's banking establishments this week experienced a real run on them...a rumor became current last week that the United States government was preparing to seize all funds in banks in the names of foreigners.
Source: newspapers

Newspaper Articles (1)

1. April 13, 1917 Honolulu Star-Bulletin Honolulu, HI

Article from Honolulu Star-Bulletin, April 13, 1917

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Article Text

ABSURD RUMORS CAUSE MANY TO DRAW SAVINGS (Special Star-Bullotin Correspondence) WAILUKU, Maui. April 12-A1though the banks of the territory have probably more money than they ever held before, Maui's banking establishments this week experienced a real "run" on them. As a result there is now probably stuck away in old stockings and sugar bowls, or buried under grape arbors some $25,000 or $30,000 in hard cash which last week peacefully reposed in burglar-proof vaults. The "run" has been confined to the Portuguese, among whom a rumor became current last week that the United States government was preparing to seize all funds in banks in the names of forçigners. And the Maui Portuguese were not taking any chances. They began to present their savings books last Saturday in ones and twos, and when the banks opened on Monday they came in augmenteu numbers. No assurance satisfied them-they simply wanted their cash and wanted it quickly. The Bank of Maul in Wailuku and its branches in Pala and Lahaina met the demands as fast as they came and thus somewhat took the edge off the "run." D. C: Lindsay, cashier of the Baldwin National Bank at Kahului, states that the demands on his bank will not amount to more than $3000 or $4000. The absurdity of the panic is height. ened when it is remembered that even the property of German subjects in the United States will be perfectly safe so long as its owners obey the law.