7123. Hyannis Savings Bank (Hyannis, MA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
October 1, 1877
Location
Hyannis, Massachusetts (41.653, -70.283)

Metadata

Model
gpt-5-mini
Short Digest
e764a0b8110380fd

Response Measures

None

Description

Articles report a run and voluntary suspension of payments in early October 1877 (linked to panic from suspension of the Barnstable Savings Bank), followed by appointment of receivers in Sept 1878. OCR variants (Hyannes) corrected to Hyannis. Sequence: run -> suspension -> eventual closure/receivership.

Events (3)
1. October 1, 1877 Run
Cause
Local Banks
Cause Details
Panic/tremor caused by suspension of the Barnstable Savings Bank led depositors to withdraw.
Measures
Payments were entirely suspended until distrust subsided.
Newspaper Excerpt
There was a run on the bank several days.
Source
newspapers
2. October 1, 1877 Suspension
Cause
Local Banks
Cause Details
Suspension followed the run sparked by the Barnstable savings bank suspension and resulting local distrust.
Newspaper Excerpt
Saturday it was deemed advisable that payment be entirely suspended until the present distrust subsides.
Source
newspapers
3. September 3, 1878 Receivership
Newspaper Excerpt
The Hyannis Savings Bank at Hyannis, Mass., having failed to make up its impairment, the Supreme Court has appointed receivers.
Source
newspapers

Newspaper Articles (3)
1. October 2, 1877 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, October 2, 1877

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Article Text

A Tremor of Fear Over Banks in Massachusetts. BOSTON, October 1.-Another result of the tremor caused by the suspension of the Barnstable savings bank, has been the suspension of the savings bank of Hyannes, Massachusetts. There was a run on the bank several days. Saturday it was deemed advisable that payment be entirely suspended until the present distrust subsides. The bank has a good standing, most of its loans being goods. The last report of the bank shows it had 1,695 depositors and the aggregate de. 00 posits amounted to nearly $625,000.

2. October 6, 1877 The Dallas Weekly Herald Dallas, TX
Article from The Dallas Weekly Herald, October 6, 1877

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Article Text

€ HERE AND THERE. f t The Degenerate . ays of Mermonism Have Come. g 8 New YORK, September 29.-A Salt y Lake City dispatch says the Tribune t publishes a list of persons who have 0 obtained divorces through the probate court of Utah. & Embarrassment of the Charter Oak Life Insurance Company. t HARTFORD, September 28.-The di1 rectors of the Charter Oak Life Insur8 ancecompany ask a lease of forty per I cent. from policy-holders ; otherwise o the concern must go into the hands of a a receiver. ( The Balance of Trade Promises to be On the Other Leg. I NEW YORK, September 29.-Nine o steamships sailed for Europe to-day, a taking about four bundred thousand bushels of grain, besides large quantiI ties of cheese, butter, cotton, lard, o oysters, flour, hops, beef and canned e goods; also horses, cattle and a full list I of passengers. 1 John McCulloch Opens His Southern I Tour in Richelieu. RICHMOND, October 1.-The Calio foruia tragedian, John McCulloch, , opens his southern tour to-night in 'Richelleu." Traveling with him are t I Messrs. Levick and Lawrence, Miss ti Eleanore Corrie, Miss Octavia Allen 0 and others, under the general mant agement of John T. Ford, of Balds more. b A Test Case Under the Vermont Liquor Law. I 9 BATTLEBORO, Vt., September 28.-In a Widam county court yesterday, Ophet u lia Snow recovered a verdict of $2,800 0 against Daniel Carpenter & Son, hotel proprietors, and prominent citizens of f Battleboro, on account of injuries re1 V celved by being thrown from a wagon t in consequence of her husband being drunk. The liquor was purchased of V the defendants. As the suit was a test y t case under the Vermont liquor law, it t excited great interest. to & Tremor of Fear Over Banks in Mansachusetts. II BOSTON, October 1.-Another result of the tremor caused by the suspension a of the Barnstable/savings bank, has II been the suspension of the savings L bank of Hyanues, Massachusetts. n There was a run on the bank several ti days. Saturday it was deemed advisable that payment be entirely sueg pended until the present distrust subsides. The bank has a good standing, IF most of Its loans being goods. The last report of the bank shows it bad 1,695 depositors and the aggregate de8] posits amounted to nearly $625,000. P

3. September 4, 1878 New-York Tribune New York, NY
Article from New-York Tribune, September 4, 1878

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Article Text

TELEGRAPHIC NOTES. SAN FRANCISCO, Sept. 3.-It has been ascertained that the cause of Governor Haight's death was heart diseased Boston, Sept. 3.-The Hyannis Savings Bank at Hyannis, Mass., having failed to make up its impairment, the Supreme Court has appointed receivers. PROVIDENCE, R. I., Sept. 3.-George Brown, of New-York, third cook on the steamer Rhode Island, was drowned at Fox Point this morning, while bathing. FABYAN HOUSE, N. H., Sept. 3.-Governor Hartranft and party arrived here yesterday and went to the summit of Mount Washington where they will spend to-night, returning here to-morrow. SAN FRANCISCO, Sept. 3.-The Farmers' and Mechamics' Bank of Savings closed its doors this morning mi will go into liquidation, The amount due to depositors is about $365,000, which will all be paid. ALBANY N. Y., Sept. 3.-Complaint has been made against the New-York Knickerbocker Casualty Insur. ance Company taking risks against the explesion of steam boilers. The question has been submitted to the Attorney. General for an opinion.