3183. German American Savings Bank (Burlington, IA)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
December 29, 1888
Location
Burlington, Iowa (40.808, -91.113)

Metadata

Model
gpt-5-mini
Short Digest
82d5b6a6

Response Measures

Accommodated withdrawals

Description

Multiple newspapers (Dec 29–31, 1888) report a short, 'causeless' run triggered by a sensational rumor of insolvency. Run was brief, confidence restored and deposits increased; no suspension or closure mentioned.

Events (1)

1. December 29, 1888 Run
Cause
Rumor Or Misinformation
Cause Details
Sensational rumor that the bank had become insolvent; small depositors withdrew but confidence prevented a general run.
Newspaper Excerpt
A causeless run on the German-American Savings Bank of this city was begun to day. It lasted only a short time and resulted in the end in an increase in its deposits.
Source
newspapers

Newspaper Articles (6)

Article from The Morning News, December 30, 1888

Click image to open full size in new tab

Article Text

A Causeless Run on a Bank. BURLINGTON. IA., Dec. 29.-A causeless run on the German-American Savings Bank of this city was begun to day. It las ed only a short time and resulted in the end in an increase in its deposits. The bank is considered one of the strongest in tue state.


Article from The Memphis Appeal, December 30, 1888

Click image to open full size in new tab

Article Text

CONDENSED TELEGRAMS. Domestic. The first engine passed over the Poughkeepsie bridge yesterday. Ex-President Jacob Peter, of the First National Bank of Louisville, died yesterday. The tonnage on the Pennsylvania road is now larger than ever before in its history. William Car, President of the Mechanics' National Bank of Pittsburg, died yesterday. Indictments have been returned against the Chicago bond stealers. Attorney Cutting has been released. A mob at Greeley, Col., took W. D. French out of jail and hung him. Hehad murdered Harry Woodbury. The bond offerings yesterday aggregated $203,500, as follows: Registered 4s, $3,500, at 1271 ex-interest; registered 4½s, $200,000, at 1081. Chas. F. Merle, San Francisco agent for N. K. Fairbank & Co., of Chicago, has absconded. One report says he took $90,000 of the firm's money, but this is denied by the firm. A senseless run was made on the German-American Bank of Burlington, Ia., yesterday, one of the strongest in the State. It only resulted in increased deposits at the end of the day. The remains of the late Rev. Dr. Boyce will be forwarded to America from Marseilles. The Rev. Dr. Broaddus will probably succeed him as president of the Southern Theological Seminary. Judge Prendergast, of Chicago, yesterday, in the matter of the Lindauer failure, decided the assets should be distributed pro rata among the creditors. He stated that the firm had been guilty of attempted robbery in their preferences. The miners of the anthracite region of Pennsylvania threaten to strike to secure a reduction in the price of powder from $3 to $2 a keg. They charge that the companies which in 1886 sold $1,778,896.25 worth of powder to the miners, cleared $930,000.


Article from St. Paul Daily Globe, December 31, 1888

Click image to open full size in new tab

Article Text

Run on a Sound Bank. BURLINGTON, Io., Dec. 30.-Considerable excitement was created in this city yesterday by a sensational rumor that the German-American Savings bank had become insolvent. A number of small depositors withdrew their money in consequence, but the confidence of the publie 11) the soundness of the institution prevented a.general run and all fear was allayed before the day's business closed.


Article from The Enterprise, January 2, 1889

Click image to open full size in new tab

Article Text

Small Run on a Bank. BURLINGTON. Ia., Dec. 31.-Considerable excitement was created in this city Saturday by a sensational rumor that the German American Savings bank had become insolvent. A number of small depositors withdrew their money in consequence, but theconfidence of the public in the soundness of the institution prevented a general rur and all fear was allayed before the day's business closed.


Article from Abilene Weekly Reflector, January 3, 1889

Click image to open full size in new tab

Article Text

ADDITIONAL DISPATCHES. AN escaped Soudanese has offered to bring General Gordon's clothes, sword and papers, which are said to be hidden near Berber. JOHN and Wiley Matthews, two of the condemned Bald Knobbers, escaped from the Ozark, Mo., jail, together with five men charged with train robbery. The Walkers refused to go. The escape was effected by I friends of the Bald Knobbers working from the outside. CLEARING house returns for week ended December 29 showed an average increase of 19.6 compared with the corresponding week of last year. In New York the increase was 25 4. THE London Stock Exchange was active and advanced during the week ended December 29. American railroads had a ; sharp rise, but weakened toward the end of the week. T e Continental bourses ) were depressed with prices tending downward. RICHTER calculates from recent statistics that Germany has at her disposal in the event of war an army of 3,513,416 completely drilled men, not counting the reserves and the landsturm, which are not drilled in the time of peace. THE London police have received and traced to their origin, letters which lead them to believe that "Jack the Ripper" was living in the vicinity of Drury lane. They did not accept the theory that the Whitechapel fiend had any thing to do with the murder and mutilation of little John Gill, at Bradford. IT has been discovered that the vault of the United States sub-treasury in the cus) tom house of Baltimore, Md., was robbed of $1,243 in standard silver dollars, April 15, but the robbery was kept secret in the hope that the thief might be surprised and captured. A CAUSELESS run was made on the German-American Savings Bank of Burlington, Iowa, the other day, but it lasted only a short time and had no bad effects. MORE battles with oyster pirates have been reported off the Maryland coast. In one of the engagements Captain Shores was wounded. In another five dredging schooners were captured by the State navy. AT the request of the Acting Secretary of War Attorney-General Garland has instructed the United States District Attorney at Austin, Tex., to take the necessary steps for the defense of General Stanley, U.S.A., recently arrested in that city while in the execution of his official duties. THE President has ordered the removal of Edward Cushing. collector of customs at Belfast, Me., because of charges that he had accepted money from applicants for positions. IT is said that Dr. Alexander E.M.McDonald, general superintendent of the insane asylum on Wards island, has become iusane. He was one of the experts whose testimony convicted Guiteau, the assassin of President Garfield.


Article from The Iola Register, January 4, 1889

Click image to open full size in new tab

Article Text

# THE LATEST. AN escaped Soudanese has offered to bring General Gordon's clothes, sword and papers, which are said to be hidden near Berber. JOHN and Wiley Matthews, two of the condemned Bald Knobbers, escaped from the Ozark, Mo., jail, together with five men charged with train robbery. The Walkers refused to go. The escape was effected by friends of the Bald Knobbers working from the outside. CLEARING house returns for week ended December 29 showed an average increase of 19.6 compared with the corresponding week of last year. In New York the increase was 25.4. THE London Stock Exchange was active and advanced during the week ended December 29. American railroads had a sharp rise, but weakened toward the end of the week. Te Continental bourses were depressed with prices tending downward. RICHTER calculates from recent statistics that Germany has at her disposal in the event of war an army of 3,513,416 completely drilled men, not counting the reserves and the landsturm, which are not drilled in the time of peace. THE London police have received and traced to their origin, letters which lead them to believe that "Jack the Ripper" was living in the vicinity of Drury lane. They did not accept the theory that the Whitechapel fiend had any thing to do with the murder and mutilation of little John Gill, at Bradford. It has been discovered that the vault of the United States sub-treasury in the custom house of Baltimore, Md., was robbed of $1,243 in standard silver dollars, April 15, but the robbery was kept secret in the hope that the thief might be surprised and captured. A CAUSELESS run was made on the German-American Savings Bank of Burlington, Iowa, the other day, but it lasted only a short time and had no bad effects. MORE battles with oyster pirates have been reported off the Maryland coast. In one of the engagements Captain Shores was wounded. In another five dredging schooners were captured by the State navy. AT the request of the Acting Secretary of War Attorney-General Garland has instructed the United States District Attorney at Austin, Tex., to take the necessary steps for the defense of General Stanley, U. S. A., recently arrested in that city while in the execution of his official duties. THE President has ordered the removal of Edward Cushing, collector of customs at Belfast, Me., because of charges that he had accepted money from applicants for positions. It is said that Dr. Alexander E. M. McDonald, general superintendent of the insane asylum on Wards island, has become insane. He was one of the experts whose testimony convicted Guiteau, the assassin of President Garfield.