7381. Provident Savings Bank (Baltimore, MD)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
October 9, 1900
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini
Short Digest
b5bd17b62b9a3370

Response Measures

None

Description

Articles report a one-night run at the Southeastern (Canton) branch of the Provident Savings Bank on Oct 9, 1900 caused by a rumor started by a woman in Canton. The bank met all withdrawals, kept the branch open late, and did not suspend operations.

Events (1)
1. October 9, 1900 Run
Cause
Rumor Or Misinformation
Cause Details
A hysterical woman in Canton told neighbors the bank would fail (fueled by fears about money depreciation if Bryan were elected), prompting depositors to withdraw.
Measures
All withdrawal requests were promptly met; the branch stayed open late (5–9 p.m. and until last depositor satisfied); police called for crowd control.
Newspaper Excerpt
The idle talk of a woman of Canton caused a run on the southeastern branch of the Provident Savings Bank, last night.
Source
newspapers

Newspaper Articles (2)
1. October 9, 1900 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 9, 1900

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Article Text

NEWS OF THE DAY. The Boers have occupied Wepener, Rouxville and Ficksburg, in the Orange Free State. Four persons were killed at Guayamo, Porto Rico, in a riot growing out of political excitement. The results of the parlimentary elections in England show that the Salisbury government will have a majority of over one hundred and fifty. Despondent because an incurable disease was gradually taking her life Mrs. John Fout, wife of a young farmer of Hartmonsville, W. Va, killed herselt yesterday by cutting her throat from ear to ear. She had been married a little over a year. The census bureau in Washington yesterday announced the population of the State of Delaware and of the District of Columbia of 1900. The population of Delaware is placed at 184,735, as against 168,495 in 1890, showing an increase of 10,242. Tnat of the District of Columbia is 278,718, an increase since 1890 of 48,326, or 20.9 per cent. John H. Pallen demands a divorce in Washington from his wife Lillie E. because she insisted on becoming an actress. He claims that she made frequent trips to New York in quest of engagements and at one time voyaged across the ocean. On the latter trip, be asserts, she was accompanied by one Elward H. Paudert. Mrs. Pallen's stage name was Lillian Evans. Because of his throat troubles, which were aggravated by the unlavorable weather, former Senator Gorman was unable to attend the democratic mass meeting at Music Hall, Baltimore last night. In a letter from him read at the meeting, he indorsed the democratic nominees. Senator Gorman, in Washington, yesterday, denied that he had given up his campaign work, and also denied that he said Bryan would not be elected. The idle talk of a woman of Canton caused a run on the southeastern branch of the Provident Savings Bank, last night. Last Saturday East Baltimore and Cinton were full of rumors that the bank was about to suspend business. Those in erested in the bank ascertained that the rumors were based on the remarks of a female resident of Canton. President Elisha H. Perkins states that all demands were, and will be, met, and that the bank has more money than it can use.

2. October 9, 1900 The Evening Times Washington, DC
Article from The Evening Times, October 9, 1900

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Article Text

WOMAN STARTS A BANK RUN. A Branch of a Baltimore Savings Institution the Victim. BALTIMORE, Oct. 9.-Owing to a rumor that gained credence but was not traceable to any responsible source there was a run on the Southeastern Branch of the Provident Savings Bank, 1705 Bank Street, last night. The Provident Savings Bank, which has its main office at Howard and Franklin streets, has eleven branches throughout the city and suburbs. At the Southeastern branch the bank is kept open on Saturday and Monday evenings from 5 o'clock until 9 o'clock p. m. to afford working people an opportunity to deposit their savings. When the bank opened its doors at 5 o'clock W. J. Mackee, the cashier, was confronted with a crowd of people eagerly demanding their deposits. The majority of the anxious depositors were women and children, the latter having small amounts on stamp deposits. Between 7 and 8 o'clock the crowd became so great that police protection had to be called for to keep the frightened depositors in order. All requests for withdrawal were promptly met by Cashier Mackee, and the bank kept its doors open until the last depositor was satisfied. Elisha H. Perkins is president of the bank. He stated to a reporter that he had no idea why the run should have been made, as there was no reason for such action. "The Provident Savings Bank," said he, "has plenty of money. more than we know what to do with, and we can meet all demands which may be made upon us by our depositors." It is stated that the authority for the rumor originated from a hysterical woman in Canton who had a small amount in the bank. She is reported to have become frightened over reading the statements that if Bryan is elected money would depreciate in value to 50 cents on the dollar. Then she got to talking to her neighbors and advised them to withdraw their money from the Southeastern branch, saying that it "would be better not to take any risks, as the bank was going to fail." Her remarks spread like wildfire, with the consequence of drawing a large crowd of alarmed people at the bank last night.