New Haven Savings Bank (New Haven, CT)

Episode Information

Episode UID
51001171021
Episode Type
Run Only
Bank Type
savings
Bank ID
5100117 routing
Routing Number
51-0011
Start Date
January 23, 1885
Location
New Haven, Connecticut (41.308, -72.928)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2b44a117a4170296

Response Measures

None

Events (1)

1. January 23, 1885 Run
Cause
Rumor Or Misinformation
Cause Details
Unfounded rumors and a person joking about the bank's condition (including an unfounded story that an official gambled with funds).
Random Run
Yes
Random Run Snippet
run was caused by some person joking about the bank's condition; reports unfounded
Measures
Paid out funds to depositors (reports of $100,000 to $250,000 paid out over the run), kept doors open and offered loans/assistance to meet withdrawals.
Newspaper Excerpt
There was a run on the New Haven Savings Bank this afternoon, and the excitement is increasing. The bank officers assert that the bank is all right, and the run was caused by some person joking about the bank's condition.
Source
newspapers

Newspaper Articles (10)

Article from Savannah Morning News, January 24, 1885

Click image to open full size in new tab

Article Text

try ng ures are about an average. A RUN ON A BANK. NEW HAVEN, CONN., Jan. 23.-There was a run on the New Haven savings bank this afternoon and the excitement is increasing. The bank's officers assert that the bank is all right, and that the run was caused by some person joking about the bank's condition.


Article from The Portland Daily Press, January 24, 1885

Click image to open full size in new tab

Article Text

SALEM, Jan. 23.-Four below. QUEBEC, Jan, 23.-A report from Saint Annessays that four men were frozen to death in that vicinity. Mr. Langlois was found frozen to death last Sunday morning in the village of Acton and Mr. Valle, a farmer, was also found frozen to death near the latter place after the late storm. PORT DEPOSIT, Md. Jan. 23.-The Susquehanna tonight is gorged with ice from Garrett's Island, three miles south of Port Deposit, to a point several miles north. This afternoon the ice began moving down and gorging 10 to 15 feet high opposite Port Deposit, backing water into the town, submerging the entire lower section and attaining a depth of two to three feet in the streets and at many places flooding cellars and yards. The water continued rising for half an hour and rose five feet in 20 minutes. Citizens have removed their stock. FINANCIAL. The Week's Failures. NEW YORK, Jan. 23.-The failures throughout the country during the last seven days number for the United States, 371; for Canada, 40; compared with 420 last week. Run on a New Haven Bank. NEW HAVEN, Conn., Jan. 23.-There was a run on the New Haven Savings Bank this afternoon, and the excitement is increasing. The bank officers assert that the bank is all right, and the run was caused by some person joking about the bank's condition.


Article from The Indianapolis Sentinel, January 24, 1885

Click image to open full size in new tab

Article Text

CONDENSED TELEGRAMS. The Ingham County Alms-honse, eight miles from Detroit, was burned Thursday night at 11 o'clock. Loss, $15,000. All the public schools of Hazel Green, Wis., have been closed on account of diphtheria, which prevails as an epidemic. Mrs. M. J. Pottinger, of Louisville, was ap pointed notary public yesterday in the Common Pleas Court-the first lady examiner ever appointed in Kentucky. Gas was struck [at the Haugh well, near Washington, Pa., yesterday, at a depth of 1,990 feet, equal to the great Canonsburg well. Drilling has been continued and the flaw is increasing. There is a run on the New Haven, Conn., Savings Bank this afternoon. The excite= ment was increasing. The bank officers assert that the bank is all right. The run was caused by some person joking about the bank's condition."


Article from New-York Tribune, January 24, 1885

Click image to open full size in new tab

Article Text

CONDITION OF BUSINESS. RUMORS AFFECTING A BANK. A FRIGHT AMONG DEPOSITORS IN new-haven. [BY TELEGRAPH TO THE TRIBUNE. I NEW-HAVร‰N, Jan 23.-Considerable excitement was occasioned on the street to-day by the report that the New-Haven Savings Bank in Orange-st. was on the verge of bankruptcy. It resulted in a mild run on the bank this afternoon, and to-morrow a rush is expected. The report came from unfounded rumors of various sorts, one of which was that Assistant Treasurer Pardee had been gambling in Wall Street with the bank's funds. The bank officials strenuously dented all injurious reports, but did not attempt to explain the matter to the excited depositors, beyond telling them that they could have their money, interest and principal, as fast as it could be paid out to them. The bank is the third largest savings bank in the State and the oldest in the city. The market value of Its assets is $6,062,603 28; due on deposits, $5,637,970 28 ; profit and loss, $6,053 28; surplus, $210,000; total liabilities, $5,693,970 28. All the leading business men of the city consider the bank the most solld in this part of the State. ExGovernor Bigelow has offered to tend the bank $50,000 to meet the run. Others have offered loans. The bank's securities are good, large amounts being in United States 41gs, New-York Central 7 per cent bonds, Shore Line Railway 4ยฝ per cents, and other equally good properties. George Wykes, jr., of W.T. Hatch & Son's branch office here, says the securities are the tinest owned by any bank in the State. It 18 sincerely hoped a panic will not take place among the depositors tomorrow, but if it does the bank is prepared to meet all demands and can pay out at the rate of $300,000 a day. Cashier Richardson says he will keep the doors open as long as any one appears for his money.


Article from Richmond Dispatch, January 24, 1885

Click image to open full size in new tab

Article Text

Run on a Savings Bank. [By telegraph to the Dispatch.] NEW HAVEN, CONN., January 23.There was a run on the New Haven Savings Bank this afternoon, and the excitement is increasing. The bank officers assert that the bank is all right, and the run was caused by some person joking about the bank's condition.


Article from Richmond Dispatch, January 27, 1885

Click image to open full size in new tab

Article Text

Meeting a Run Successfully. [By telegraph to the Dispatch.] NEW HAVEN, CONN., January 26. The run on the New Haven Savings Bank continued to-day from 7 o'clock to the closing hour. A line varying from seventy-five to two hundred persons was kept in order by a squad of police, About three hundred accounts were closed and $100,000 paid out. The bank still has plenty of money on hand, and, moreover, Treasurer Tuttle says he can obtain all the funds required faster than the money can be distributed.


Article from Savannah Morning News, January 28, 1885

Click image to open full size in new tab

Article Text

NEW HAVEN, CONN., Jan. 27.-The run on the New Haven Savings Bank, which commenced Friday last, terminated before noon to-day. Over $250,000 was paid out.


Article from Morning Journal and Courier, January 28, 1885

Click image to open full size in new tab

Article Text

THE END OF THE RUN. The Finale Yesterday Forenoon-All Quiet on Orange Street-The Trustees' Statement-Its Powerful Effect. The run on the New Haven Savings bank came to an end yesterday forenoon. When the bank opened there were sixty depositors in line and at 11 o'clock the number had dwindled to a dozen and the run was over before noon. This result was anticipated by the best judges and prophesied last Saturday, as the run was entirely without reason, an absurd scare from the beginning. The official statement published by the bank and in the papers had great weight. It was a clincher and left nothing more to be said as to the soundness of the bank. It would be hard to find in the Union or in the old world any sounder institution. Prominent men speaking of the end of the run yesterday said, "The result will be that the bank, strong as it is, will be stronger than ever and stand higher than ever in public estimation." The statement of the trustees, it might be added, carried additional weight from the fact, not known by some, that the trustees (all well known and most highly respected gentlemen) have not a dollar of interest in the bank, are not permitted by law to borrow of the bank or otherwise become its debtors, and receive not a cent for their labor as trustees, the office being held by them without any pecuniary reward or recompense whatsoever. They have much responsibility, as, for instance, in a case like that which has just occurred, and altogether their statement justly carried much weight, being that of disinterested gentlemen serving as it were the public interests. NEW ENGLAND ROAD. "Hobson's Choice" For the Floating Debt Creditors. If the rental of the Norwich and Worcester to the New York and New England is reduced to 8 per cent., the saving to the latter will be about $50,000 a year. The prospect for the reduction is said to be good. Steps are now being taken to settle with the floating debt creditors. Some of them who have liens and are clearly entitled to preference will be offered second mortgage bonds, and the others will be offered preferred stock. It is Hobson's choice with the latter, for the road cannot be taken out of receivership, nor can foreclosure be prevented, unless the debts can be adjusted, the expenses reduced and the income increased so that there is a fair prospect of the company's meeting the fixed charges. When this occurs, both the preferred and common stock will have a basis of value. Death of Warden Sargent of the State Prison. Warden Sargent, of the Connecticut State prison, died Monday night. He was a native of New Hampshire and came to this State in 1865. He became an overseer in the State prison under Warden Willard, and Warden Botelle, who succeeded Mr. Willard, made him a clerk in the warden's office. When Warden Hewes came in Sargent went to Iowa. He was recalled to the prison, and later was made warden. He had been complaining of ill health for some time, but had been confined to the house but two weeks. He was twice married. He lost his first wife and two chil' dren some years ago. He married his last wife something over two years ago-Miss Kate Hanmer, of W ethersfield. They had one child.


Article from The Indianapolis Journal, February 18, 1885

Click image to open full size in new tab

Article Text

# ABOUT PEOPLE AND THINGS. GEORGE ELIOT'S biography has already brought in to its publisher $40,000. CAPTAIN LORD "Charley" Beresford, who is doing capital service on the Nile, was thirty-nine years old last week. SIR HERBERT STEWART, the hero of Abu-Klea and Gubat, is a teetotaler. He is a man of irrepressible spirits and untiring patience. It is said that the run on the New Haven Savings Bank brought out several persons with bank books who have been drawing aid from the city for years. MISS CALDWELL, who has given a large endowment for a Roman Catholic university in this country, will this year be the recipient of the golden rose annually given by the Pope to the church's greatest benefactor. CAMERON, the correspondent who was killed in the Soudan recently, was unmarried, but his aged mother was dependent upon him for support. The London Standard, for which he was working, has granted her a handsome life pension. A GERMAN paper states that eggs may be kept perfectly fresh for a year by rubbing them with vaseline which has been melted with three-tenths per cent. of salicylic acid. The application should be made twice at an interval of a month. MR. HENDRICKS, though not quite as good a shot as Davy Crockett, knows a thing or two about a rifle. An American who was in Paris when Mr. Hendricks was there says that they went together on a trip up the Seine and halted at a landing where there was a shooting gallery. As they sat in a booth watching the marksmen fire at the heads of clay pipes at a distance of four rods, Mr. Hendricks suddenly said: "I


Article from Watertown Republican, February 18, 1885

Click image to open full size in new tab

Article Text

CHIPS. FLORIDA has a town named "Hurrah." THERE are nine American countesses and marchionesses in Rome this winter. IT is said Cape Cod Canal will cost $7,500,000 and consume three years in digging. SEVERAL thousand California trout have recently been placed in Pennsylvania streams. IT is said that there are nearly 200 women employed on daily newspapers in this country. THE actual membership of the Mormon church according to the census of 1880, was 79,886. A CAR STARTER at the union depot in Pittsburg, Pa., is said to be the son of an English peer. ELECTRICAL footwarmers for use in railroad carriages are undergoing experiments in Paris. "TINY conversation" is the modern phrase for "small talk" in fashionable circles of New York. IT is estimated that one million of the cattle in Texas are owned by men who live outside the state. THERE are now twenty-three cities in Massachusetts. The most recently incorporated is Waltham. HORSE-RACING is becoming SO popular in Mexico that it is believed the sport will soon drive out the bull-fight. THE Mormon temple at Salt Lake will yet require more than four years for its completion, and will cost $3,000,000. AN eccentric Englishman, who landed in New York the other morning, took a steamer for Liverpool the same afternoon. He said he had seen enough. SMOKERS are warned by a celebrated optician from reading and smoking at the same time. The blue of the smoke imposes unequal work on the two eyes. THE oldest postmaster in Western Massachusets is A. W. Williams of West Pittsfield, who was appointed by President Pierce and is now 81 years of age. A BOSTON doctor who has just retired with a big fortune says he drew remedies for corns and consumption from the same keg, and most of his patients got well. THE Sea of Galilee swarms with piscatorial life, as in ancient times, but the fishing industry has greatly run down, there being but one sailing craft on the lake. "THON." the proposed new pronoun (impersonal singular number), is being taught by some of the teachers in the public schools, the Lewiston (Me.) Journal says. AN engraver's mistake lately caused the bride's parents to say on the cards "Mr. and Mrs.-respectfully request your presents at the marriage of their daughter," etc. A GOVERNMENT pensioner of Edgartown, Mass., is the fourth of his line in direct descent who have drawn pensions from the United States by reason of military service. A FLOW of hydrogen gas from one of the Stockton (Cal.) Water Company's artesian wells is to be utilized for illuminating and heating purposes. The well is 1,081 feet deep. A FARMER of Berkley County, W. Va., fortified his chicken-house with dynamite bombs. Now he hasn't any chickens or house, and a colored neighbor is similarly scattered. ONLY fourteen of the 1862-3 residents of Billings, Montana, are now living. Of those dead four were killed by Indians, two committed suicide, and one was killed in the Big Hole battle. THE run on the New Haven savings bank brought out several persons with bank books who have been drawing aid from the city for years. Their supplies from that quarter will be stopped. THERE is a fortunate little girl in Trinidad, Col. When she was borntwelve years ago-her grandfather gave her a cow. She has now $5,000 worth of cattle, the offspring of her birthday present. AMERICAN purchases of French works of art have recently undergone a wonderful decline. In 1882 we imported from France art objects to the valueof $1,938,650; in 1883, $1,361,080, and in 1884, $694,975. TWENTY years ago, says an observer of events, there was not a telephone in existence. Now we can send a message a distance of over two miles and receive an answer in about a week. Such is progress. THE "real nice" New Yorker of today keeps a valet, and cruel critics say that the principal use of a valet is in the line of putting his master to bed when he cannot locate that comfortable quarter himself. WHILE praying during a recent storm, the Natchez (Miss. )Daily Democrat, "old Katie Hightower, who has been blind for fifteen years, had her sight suddenly restored, and can now see as well as when a child." BOSTON people are sure that cholera will visit America this year, and have begun making preparations by placing ample means at the command of the health department to insure a safe sanitary condition of the city. AN anonymous donor in Melbourne, Australia, has offered the Baptist association the sum of $125,000 toward the founding of a denominational college in Victoria, provided an equal sum is