7013. South Boston Savings Bank (Boston, MA)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
January 26, 1914
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini
Short Digest
1efadeef700e27ed

Response Measures

None

Description

Newspaper reports from Jan 26–27, 1914 describe a run driven by an unfounded rumor. The bank remained open and paid depositors; no suspension or closure is mentioned.

Events (1)
1. January 26, 1914 Run
Cause
Rumor Or Misinformation
Cause Details
An unfounded rumor circulated that the institution was not in good condition, leading hundreds of depositors to withdraw funds.
Measures
Bank kept doors open beyond regular hours and paid depositors as fast as money could be handled; police guarded the premises.
Newspaper Excerpt
In the face of a statement by the Bank Commissioner that the South Boston Savings Bank was perfectly sound the run which began a few days ago assumed to-day considerable proportions. Many hundred people withdrew their money.
Source
newspapers

Newspaper Articles (2)
1. January 27, 1914 The Sun New York, NY
Article from The Sun, January 27, 1914

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Article Text

SERIOUS RUN ON BOSTON BANK. Hundreds Withdraw Funds Despite Commissioner's o. K. BOSTON, Jan. 26. - In the face of a statement by the Bank Commissioner that the South Boston Savings Bank was perfectly sound the run which began a few days ago assumed to-day considerable proportions. Many hundred people withdrew their money. How the rumor started that has led to these withdrawals the bank's officers have no means of knowing, but they have known for some time that it was (being circulated. No effects were felt until Saturday, when about $12,000 was taken out by depositers. The bank has about $8,000,000 in deposits and about 29,000 depositors.

2. January 29, 1914 The Manchester Journal Manchester, Bennington, VT
Article from The Manchester Journal, January 29, 1914

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Article Text

RUN ON BOSTON BANK Every Depositor Paid as Fast as Money Can Be Handed Out Boston, Jan. 27.-Becanse of an unfounded rumor that the institution was not in good condition there was a run on the South Boston Savings bank, fully 800 depositors calling to withdraw their money. The bank is in good condition, according to its officials, who kept the doors open until after the regular atternoon closing hour to anow all in line to withdraw their money. At one time about 400 depositors were standing in line. Every one was paid as fast as the money could be handled. Police guarded the place.