Emigrant Savings Bank (New York, NY)

Episode Information

Episode UID
5812007191013
Episode Type
Run Only
Bank Type
savings
Bank ID
581200719 hash
Start Date
May 16, 1884
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a1d9a7a365fcaeaa

Response Measures

None

Events (1)

1. May 16, 1884 Run
Cause
Local Banks
Cause Details
Withdrawals occurred amid wider panic and failures/troubles among New York brokers and other local banks/firms, prompting heavy orders for gold and large payments by savings banks.
Measures
Large payments/redemptions honored; substantial payouts made to depositors.
Newspaper Excerpt
There has been a run for on the Emigrant day... nearly another payment million to savings banks.
Source
newspapers

Newspaper Articles (2)

Article from The Dallas Daily Herald, May 17, 1884

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Article Text

FINANCIAL STATUS. Trouble, No Remarkable Change in the Gotham Resuming. But Qulet and Confidence Gradually Deep. Heavy Orders for Gold from Over the in Gold. Free Issue of Certificates and Payments Russell Sage's Large Payments-Action of the Treasurer. Predicament. Donnell, Lawson & Simpson's Card and Better Reports from other Sources. In Doors and Out. The NEW YORK, May for 16. fully 9.30 half all hour. of a brisk At has time been there alive (3every indication & Hatch is open but day this The office of consult Fisk with receiving firm, for all desirior transacted to beyond ment. credno business and fixing depositora the basia and of other them claims Fisk said many entire and not noti- be itors expressed that their claims would the fied pressed. 10 a m The gong begun has at sounded the Stock and flurry ox. day 's business There has no appearance the various of a pools of change. the flobr, and although usual, the number with few on larger than bids. talk appear appear 10 brought out the prices fact believed occur. offers members of the board there will be higher No one to-day that they unless the new opinion failures but yet that to this pre- is has expressed but it is impossible br ng forth probable. what the day may clearing house commitdiet 10:15 a. certificates The ready for instant to tee have loan the express determination of relieving delivery, with with a view money use them liberally any stringency of closing the the without delay The wild talk about with ridicule, as Block market. exchange exists is treated for such action, An spect- old no necessity no sense panicky dealings are lation being the in board says the occasions, when member Harried of than on many existed for was in. less no particular officer of the reason exchange that states he he met every formed An by Ruesell Sage must proceed slowly down "pus" sent in. but streets hoyese and 10:30 a. m.- The absence of idle gazers with to work, vicinity there is is no longer eachers lumb and bered visitors. rity of the masses of curiosity well filled, the msj dressed those The galleries looking were on being elegantly anladies a. m.-H. C. Hardy They & Sons sta that nounced 11:05 their suspension. present is moralized unaccounted on their suspension heavy at and de say for. Stocks of the Hardy Vanderbilt failure. brokers account 11:30 a. m. The in London, and they their chief, to receive Resch, heavy is firms orders are from all him busy to before expect buy. The suspended affairs. Goff & Randall next week. will straightening have a statement it will require some Foote, time not & Co. state Hatch & time to adjust Dimick accounts. & Burnham, defi and affairly Bogart & Co., Hotchkias cannot give anytain Nelson J. nite as to U. William the state of their to Donnell, Robinson & Co. expect Lawson & Simplon are not disposed time. to pay first anything two hours dangerous of business, in a which 12 m.-The is usually the passed, most and only one inseason of flurry, which has had no depressing says there small failure, Sub-Treasurer Acton tenders at his fluence. brisk demand for legal withdrawal of of was office a yesterday, causing this hour the to-day $1,000, legal in $3,500,000. tenders Up to have been silver paid certificates, out and Sav. The 000 nearly another payment million to savinge banks. to the latter run for on the Emigrant day. Industrial One hundred out ing@ eixty:thousand bank abated "dollars on were the paid Manhatand No to-day The Greenwich yeaterday. Savings, institation. ended to-day. There Savings tan bank run on the German Savings pay was a study run women, the teller 18 bank to-day, mostly Second National bank ing quiet t to-day. gold. The There were many depositors, the sub but few drawing advices out. state that $109,000 Washington reports that only under treasurer here for redemption anticicall. of bonds were proposition offered to redeem Excess in pation the Folger of the date now of $150,675,659. the of reserve, which the treasury 18 is above the legal call therefo: there is $14,000,000 e, there is sufficient for another to if necessary ing-house banks have agreed bonds The cl a $20,000,000 on government Up to hour advance if necessary to 18 protect said $2,500,000 the market. have been of loaned this At the on sub-treasure this an sliver collateral large amounts are being banks greenbacks out to savings bank several Brooklyn paid The excitement at and nothing could be a called has calmed run down on any of the savings banks is to-day. The Atlantic State busines bank of was Brooklyn transac ed. evenopen bank to-day, examiner but no got through all right last and the The found every thing ingand of the bank unimpaired. passed capital hour of settling has have 2:15- and The no additional failures. Orders of safely, 2:45 p. m.- is quiet. hipment from been cabled by 1,000,000 Selligman francs in pounds Napoleous in and Europe probably eagles to 100.000 be shipped just stated from double London. "Russell he Sage had gettled has more than conJay Gould that his "puts," and will can tinue setting three-quarters to up of as fast as his orce figure accounts The speculative day to has show ended 3 p. m and all evidences go monetary peacefully semi-panic over and their accusperiod Affairs gradually of returning in tomed condition.


Article from Daily Los Angeles Herald, May 17, 1884

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Article Text

in the of the protection West and co-operate life with and property them of the Spanish Consol. over The Excitement in Brooklyn Right. Atlantic Bank all The May 16. The excite NEW YORK, several Brooklyn banks Bank has ment calmed at down. the The Atlantic no business State was transacted. was open to-day The but Bank Examiner gut He found every through thing right last and night. the capital of the bank improved. Affairs on Wall street. YORK, May 16 The resulted meeting NEW House to-day of the Aa.othe Clearing loan to members par on decision all to the money required at This ciation of government securities. materially pledge is thought, help of money to will, the it prevailing stringency banks on Wall ease visit to the various progressing in the street found matters At the Metropolitan nsual business routine. was going on as bank. before Bus the Bank suspension of the rath. temporary the Produce Exchange was are iness at Shippers operations of sell er gloomy by the exireme difficulty Prices are all checked sterling exchange. lower ing and tending downward Restored Jubilant in Wall Confidence street Operators While there NEW YORK, May reactions 16 and at times showed a frequent under fear burdening of further feverish failures, were the feeling and market as 3 o'clock further approached fail tendency, not only no multibut the favorable plied, there was demand ures and there was gleat conditions improvement torstocks, the day witnessed for some has prices not closing and been a in large a whirl of buoyancy was stimulated such time upward of New York on The by the loaned fact that movement $300.000 the Bank on loan government more bonds, had and was villing that to the Clearing House the same had security issued $50,000,000 issue in a certiti large cates and expected to that considerable amount more, ordered and from the tactor other in gold had been additional important easing of An the improvement and loans hav the side. favor money of market Was cent. call per diem'to declined from 11 per anowing with is more liberal supply of to buoyancy late was 5 ing and 6 per cent depression per money offering. The was change from very marked. received During in the day money brought the day considerable and investors also to buy from heavy all amounts points into the street stock. Situation at the Banks. The May 16. The run on Bank the abated to-day. Emigrant New YORK, Industrial $16,000 Savings was paid out is The steady yesterday Greenwic Savings Bank run on run the German ended. There is a mostly women. There were Savings many at the B deposits ink, Second and National. the but few run drawing At the Bleeker out Italians. Street Bank There was but the run deposits were was on contined the Seaman's to paid. Savings Bank, & Hatch, Securities Turned Over by Fisk & Hatch NEW YORK, May $2, 16 00,000 Fisk securities day turned over for safe keeping, deposited and are left with them all securities soon prepared them to as return collaterals off. on loans as as with the latter are be paid the general impression danger of few days are over. renewal in It Wall seems Street of to the circles disturbancea that all of the past Few offered ou Folger's Honds Call-The Panic Over. The SubNEW YORK, May reports 16. only $109, Treasurer here offered for redemp- to in bonds proposition 000 redeem tion under in Folger's anticipation The Clearing of House the date of the call. to advance $20,000, 000 on banks evidences have government agreed market. bonds, All if necessary, to protect the period of semi-panic will show that the monetary affairs gradually go is over, to and return that to their accustomed condition. Card From Nimpson. Donnell. Lawson LawDonnell, NEW YORK, May who 16 failed, handed this son & Simpson, Press reporter: is To our are compelled to card to sorrow the Creditors: Associated we SIRS been It brought report with great suspension, which has of circumstances by a we had no about our which combination having control. claims We can against over only request those such consideration otherwise, and inus 10 exted as is possible, as, to prejudior dulgence be sacrificed of realizasal ing our parties. assets from may As our the we assets best have means and made securing of creditors, the asseta wherever situated signments our the firm; member also of the of all the individual firm clerk, R. assets H. each for with who has as well of years, and the twelve and Neems, of to our confidential been is in our character employ acquainted Under the assets, our his business as management. any member member with of the of the firm him the as that, can every firm, sistance who possible of propose warranted every aid in to in executing saying give his we feel dollar that liabilities trust, by possibly this be means, realized every pay will all be our secured. and We to be able to managed and our business is to be our if hope assets are will not prudently coneur in sacrificed, and endorse we hope you (Signed the plans proposed. LAWSON SIMPSON to the are Each DONNELL mail brings being in turned remittances over to are the r sceived. firm, other which banks as fast as instructions