Rochester Savings Bank (Rochester, NY)

Episode Information

Episode UID
50001270936
Episode Type
Run Only
Bank Type
savings
Bank ID
5000127 routing
Routing Number
50-0012
Start Date
December 29, 1877
Location
Rochester, New York (43.155, -77.616)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1800b082388218c6

Response Measures

None

Events (1)

1. December 29, 1877 Run
Cause
Rumor Or Misinformation
Cause Details
Rumors that the bank was in trouble led to a partial, entirely causeless run; bank had large surplus and soundness was soon established.
Measures
Paid out as applicants reached the counter; met demands promptly, run subsided.
Newspaper Excerpt
There was a partial, and an entirely causeless run, to-day, on the Rochester savings bank.
Source
newspapers

Newspaper Articles (10)

Article from Daily Press and Dakotaian, December 29, 1877

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Article Text

NEW YORK. -THE ROCHESTER SAVINGS BANK. Rochester, Dec. 29.-There was a partial, and an entirely causeless run, to-day, on the Rochester savings bank. No alarm among intelligent classes. The bank has a surplus of $700,000 over all liabilities.


Article from The Cincinnati Daily Star, December 29, 1877

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Article Text

Another Savings Bank Run. National Associated Press to the Star. ROCHESTER, N. Y., Dec. 29.--Late yesterday alternoon it was rumored that the Rochester Savings Bank was In trouble, and this morning there is a heavy run on it. Hundreds of depositors are waiting for their turn. The bank thus far is paying out as last as the applicants get to the counter.


Article from The Rock Island Argus, December 29, 1877

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Article Text

Slight Kun on a Savings Bank. ROCHESTER, N. Y., Dec. 29.--There was a partial, and entirely causeless, run today on the Rochester Savings bank. There is no alarm among the intelligent classas. The bank has a surplus of $700,000 over all liabilities.


Article from The Sun, December 30, 1877

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Article Text

A Run on a Savings Bank. ROCHESTER. Dec. 29.-There is a run to-day on the Rochester Savings Bank. There is no alarm among the large depositors. The bank has a surplus of $700,000 over all liabilities.


Article from The New York Herald, December 30, 1877

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Article Text

A RUN ON A SAVINGS BANK. ROCHESTER, N. Y., Dec. 29, 1877. There is a partial and entirely uncalled for run to-day on the Rochester Savings Bank. There is no alarm among the large depositors, The bank has a surplus of $700,000 over all liabilities.


Article from The Wheeling Daily Intelligencer, December 31, 1877

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Article Text

BANK STATEMENT. Loans, decrease $590,800 Specie, increase 2,447,800 Legal tenders, decrease 757,000 Deposite, increase 2,867,800 Circulation, increase 863.900 Reserve, increase 963,175 ROCHESTER, December 29.-A partial and entirely causeless run occurred, today, on the Rocheater Savings Bank. No alarm among the intelligent classes. The Bank has a surplus of over $700,000 over all liabilities. WATERTOWN, N. Y., December 29.George M. Brooks, of Lowville, has BUR. pended. Liabilities $60,000; assets about equal.


Article from The Daily Dispatch, December 31, 1877

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Article Text

New York. CONVICTION-ARRANGEMENT FOR TRIAL. NEW YORK, December 29.-The motion was denied for a new trial in the case of T. S. Lambert, president of the American Popular Life-Insurance Company. Sentence was postponed until Wednesday to enable the prisoner to make disposition of his affairs. Sherman Broadwell, president of the Clairmont Savings Bank, who had been indicted for swearing to false reports, pleaded not guilty, and arrangements were made for a speedy trial. RUN ON A ROCHESTER BANK. ROCHESTER, N. Y., December 29.-There was a partial run to-day on the Rochester Savings Bank. There is no alarm among the large depositors. The bank has a surplus of $700,000 over its liabilities. STEAMERS FOR EUROPE. NEW YORK. December 29.-Five steamers fully laden sailed for Europe to-day. ANOTHER BANK FAILURE. WATERTOWN, N. Y., December 29.George W. Brooks's bank, of Lowville, has suspended payment. Liabilities, $60,000; assets equal. The failure is caused by lack of confidence.


Article from Evening Star, January 2, 1878

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Article Text

Run on the Rochester Savings Bank. ROCHESTER, N.Y., Jan. 2-The run on the Rochester Savings Bank was insignificant, the fact that the bank is perfectly sound was soon established and allayed all excitement. Only the small depositors drew out their money.


Article from Daily Press and Dakotaian, January 2, 1878

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Article Text

NEW YORK. ENTIRELY INNOCENT. New York, Jan. 2.-Arthur Sewell, of the suspended fiam of Bonner & Co., has sent a communication to the stock exchange, asking for a committee of investigation into the affairs of the firm. Sewell claims to be entirely innocent of any connection with the rehypothecati on of the securities. THE ROCHESTER SAVINGS BANK. Rocee-ter, Jan. 2-The run on the Rochester Savings bank has ceased. APPOINTMENT New York, Jan. 2-Robt. L. Cutting, has been temporarily appointed receiver of the bankers and brokers association, of which John Bonner was president.


Article from Vermont Watchman and State Journal, January 30, 1878

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Article Text

# Letter from Rev. J. Copeland. WEBSTER, N. Y., January 26, 1878 Messrs. Editors: -I learn from your paper of the 23d instant, which comes an ever welcome visitor into my family, that in St. Johnsbury pansies were picked in full bloom from the ground on New Year's day, and the song of summer birds was heard also. That is a remarkable fact, but we can equal it here, for on that same day, but a little distance from our house, a party were out in the door-yard engaged at a game of croquet, a thing that was never known here before at that time of the year, and probably may never be known again. The ground was entirely bare and the temperature mild, so that it was not at all un-comfortable to play at the game at that time. During December cherry trees were reported in blossom in some parts of this county. The mildness of the season is a common subject of remark. We have read of the mercury down to thirty eight degrees below zero not long since in your village; in this place it has not yet reached lower than four degrees below, and only once as low as that. We have had but six days' sleighing thus far, and that was very poor. No ice has yet been gathered for our summer use. It has formed at best only to the thickness of four inches, and remained at that only a couple of days. The streams are all clear at the present time and ice-gatherers think they have a gloomy prospect before them. Last winter was remarkable for its depth of snow and cold: this for the absence of snow and mildness. Business throughout this region is dull, and times are hard. I asked a man from an adjoining town, not long since, how the times were? He replied: "It is the liveliest time for debts that I ever saw. Everybody that you are owing wants his pay, and you have no money to pay with." One great trouble seems to be a want of confi-dence. Men do not know whom to trust. If one has a demand against another he wants it paid; then, if he gets the money in hand, he does not know with whom to trust it. A short run was made not long ago upon the Rochester Savings Bank, the oldest and strongest institution of the kind in the city, but all demands were met so promptly that it soon subsided. Those who drew their money lost several thousand dollars by drawing before the interest of the month matured, and then they could not re-deposit it, because no other bank of the city would take it A little later, in the same bank, it was discovered that the paying teller was a defaulter in the sum of ten thousand dollars. Fast living and desire for speculation were the cause. The temperance movement in our town still holds the interest of the people in an unusual degree. Regular meetings are held fortnightly, at which we have addresses, music and charades, and the attendance is very large A slight fee is charged to pay expenses. Last evening was very unpropitions-dark, rainy and muddy, but over two hundred were in attendance. A course of literary and scientfice lectures has grown out of the movement, and these are so well attended as to require the full capacity of the largest church of the place. Four of the eight lectures of the course have been given. They have more than paid their way, and there is no lack of interest yet manifested. Several who were thought to be beyond hope of reform have abandoned their old habits and come unto the temper-ance ranks, and promise well for time to come. Our mild weather seems not altogether conducive to health, but as yet no prevailing or fatal disease has manifested itself. J. C.