German Savings Institution (Erie, PA)

Episode Information

Episode UID
5677443691028
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
567744369 hash
Start Date
August 29, 1885
Location
Erie, Pennsylvania (42.129, -80.085)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2e0990950a34ce62

Response Measures

None

Description

An assignee is mentioned, implying receivership/insolvency rather than a temporary holiday.

Events (2)
1. August 29, 1885 Other
Newspaper Excerpt
A dense crowd of excited depositors gathered around the bank, and their attitude became so threatening that a force of police was detailed to keep the peace.
Source
newspapers
2. August 29, 1885 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Assignee called meeting to meet liabilities; treasurer Eliot had sold 368 shares shortly before, implicating internal malfeasance/asset problems.
Newspaper Excerpt
meeting of the stockholders of the suspended German Savings Bank
Source
newspapers

Newspaper Articles (3)
1. September 3, 1885 The Big Sandy News Louisa, KY
Article from The Big Sandy News, September 3, 1885

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Article Text

Riotous Bank Depositors. ERIE, PENN, August 29.-Great excitement prevailed here this afternoon in connection with a meeting of the stockholders of the suspended German Savings Bank. The meeting was called to see whether the stockholders would or not meet the liabilities. A dense crowd of excited depositors gathered around the bank, and their attitude became so threatening that a force of police was detailed to keep the peace. The mob closed around every door of the bank, while the stockholders had their secret meeting within. At last it was announced by the assignee that with one exception all the stockholders had signed an agreement to pay up in proportion to their stock, provided that Treasurer Eliot pay back the amount of 368 shares sold by himself as bank treasurer shortly before. the bank suspended. W illiam Slenger, who would not'sign, was detained a prisoner in the bank by the furious depositors, and was only liberated upon his signing at the last. But for the course adopted a serious outbreak was imminent.

2. September 3, 1885 The Eaton Democrat Eaton, OH
Article from The Eaton Democrat, September 3, 1885

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Article Text

Riotous Bank Depositors. ERIE, PENN, August 29.-Great excitement prevailed h re this afternoon in connection with a meeting of the stockholders of the suspended German Savings Bank. The meeting was called to see whether the stockholders would or not meet the liabilities. A dense crowd of excited depositors gathered around the bank, and their attitude became so threatening that a force of police was detailed to keep the peace. The mob closed around every door of the bank, while the stockholders had their secret meeting within. At last it was announced by the assignee that with one exception all the stockholders had signed an agreement to pay up in proportion to their stock, provided that Treasurer Eliot pay back the amount of 368 shares sold by himself as bank treasurer shortly before the bank suspended. William Slenger, who would not sign, was detained a prisoner in the bank by the furious depositors, and was only liberated upon his signing at the last. But for the course adopted a serious outbreak was imminent.

3. September 5, 1885 The Rugby Gazette and East Tennessee News Rugby, TN
Article from The Rugby Gazette and East Tennessee News, September 5, 1885

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Article Text

Riotous Bank Depositors. ERIE, PENN, August 29.-Great excitement prevailed here this afternoon in connection with a meeting of the stockholders of the suspended German Savings Bank. The:meeting was called to see whether the stockholders would or not meet the liabilities. A dense crowd of excited depositors gathered around the bank, and their attitude bedame so threatening that a force of police was detailed to keep.,the peace. The mob closed around every door of the bank, while the stockholders had their secret meeting within. At.last it was announced by the assignee that with one. exception all the stockholders had signed an agreement to pay up in "proportion to their stock, provided that Treasurer Eliot pay back the amount of 368 shares sold by himself as bank treasurer shortly before the bank suspended. William Slenger, who would not sign, was detained a prisoner in the bank by the furious depositors, and was only liberated upon his signing at the last. But for the course adopted a serious outbreak was imminent.