7806. Barnstable Savings Bank (Barnstable, MA)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
savings bank
Start Date
September 27, 1877
Location
Barnstable, Massachusetts (41.700, -70.299)

Metadata

Model
gpt-5-mini
Short Digest
2ebd2b33

Response Measures

Partial suspension

Other: Invoked the month's notice (partial suspension) after paying depositors; not placed into receivership in the articles.

Description

Articles (dated Sept 27–Oct 2, 1877) report a run on Barnstable Savings Bank caused by the suspension of the Sandwich Savings Bank. Depositors withdrew $75,000 and called for $175,000 more; managers then 'took advantage of the month's notice' (suspended payments/closed). No definitive report of reopening or permanent receivership appears in these items, so outcome is uncertain.

Events (2)
1. September 27, 1877 Run
Cause
Local Banks
Cause Details
Run triggered by scare following suspension of the Sandwich Savings Bank; depositor panic and withdrawals resulted.
Measures
Paid out depositors $75,000 in withdrawals; managers later invoked the month's notice required by charter (suspended further payments).
Newspaper Excerpt
For the past month a run has been made on the Barnstable Savings Bank, owing to the scare caused by the suspension of the savings bank at Sandwich.
Source
newspapers
2. September 27, 1877 Suspension
Cause
Local Banks
Cause Details
Managers suspended payments/closed after heavy withdrawals and inability to realize further funds without great sacrifice of investments; directly following the run caused by Sandwich bank's suspension.
Newspaper Excerpt
The Barnstable savings bank has closed. ... the managers availed themselves of the month's notice required.
Source
newspapers

Newspaper Articles (9)
1. September 28, 1877 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, September 28, 1877

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Article Text

[SPECIAL TO THE DAILY SENTINEL.) YESTERDAY'S DISPATCHES. New York Republicans. PRONOUNCED OPPOSITION TO HAYES. Conkling Wants to Shoulder a Full Share of the Responsibility. ROCHESTER, N. Y., Sept. 26. The Republican State Conventionas sembled to-day. A. B. Cornell called the delegates to order, and J. C. Platt was made temporary Chairman. The committee on organization reported Roscoe Conkling as permanent President. Mr. Conkling, after acknowledging the honor, said it would facilitate business and accommodate him (Conkling) for the Chair to remain in his po. sition, as it would enable him to take a full share of the responsibility of whatever might be said, done or decided, or refused to be done by the convention. He therefore moved that his name be stricken from the report, and J. C. Platt be made Chairman. Foster, of Weschester, hoped the motion would not prevail, as in view of the remarks of the temporary Chairman at the opening of the session, it was calculated to put the convention in a false attitude before the Republican party and people of this State. He proceeded to criticize the bad taste of the temporary Chairman in his opening remarks. Conkling's motion prevailed - yeas, 311; nays, 110, and Platt was chosen permanent Chairman. On resuming the Chair, Platt called for the report of the committee on resolutions, which were then read. A delegate nominated Hamilton Fish, Jr., for Secretary of State. Fish declined the nomination. Adjourned till 9 A. M. to-morrow. The Northern Pacific Railroad. NEW YORK, Sept. 26. The annual meeting of the stock. holders of the Northern Pacific rail road was held to day. The report for the past year and up to September, 1877, showed the gross earnings of the year to be $965,823, and expenses $573,124, an increase of nearly 25 per cent. over last year. The report urges that Congress be petitioned to pass a bill extending the time for the construction and completion of the road to the Pacific, and sets forth the advantages to accrue to the country th ereby A resolution was adopted stating that it was the judgment of the stockhold. ers that the construction westward from the Missouri river should be commenced forthwith, and eastward from the Columbia river, on the lake Pend d'Oreille division, as soon as practicable with the best interests of the stockholders, with a view to completing the road to the Pacific. The Directors elected Charles B. Wright, of Pennsylvania, President; George Stark, of New Hampshire, Vice President; Samuel Wilkinson. Secretary, and George Beebee, Treasurer. Hon. A. H. Stephens on Hayes-Ap. pointment ofSurveyor Generalbehurz Orders an Investigation. WASHINGTON, Sept. 26. Hon. Alexander H. Stephens,in conversation to-day, said that he thought President Hayes had done more for the pacification of the country, under the doctrine of home rule, than Tilden could have done had he been inaugurated, and thought that the appointment of a Southern man to the vacan cy on the Supreme Court bench would be a further step toward pacitication, and naming ex-Governor Hershel V. Johnson, of Georgia, as the man. General John W. Ames, a son of Judge Ames, of the Supreme Court of Masachusetts, but now a resident of California, has been appointed Surveyor General of that State. Secretary Schurz has appointed a committee to make an investigation into the cause of the late fire. The New York " Tribuue" on Conk. ling. NEW YORK. Sept. 27. The Tribune editorially reviews the Republican Convention at Rochester. Conkling has answered the question which everybody had began to ask. The demonstration against the President is not only hostile, but the farce is contemptuous. Not a minute was lost in formal civilities. The attack began with a fierce speech and lasted all day. It was aggravated in every possible manner; rancor and studied insults, made 80 malignant that no friend of the Administration could avoid resenting, made with a vast parade and trumpeting, as if the audience were invited to come and see how a Republican Convention could hate a Republican President., The California Rifle Team. CHICAGO, Sept. 26. The California Rifle Team arrived here at noon, two hours too late to make the connection with the Burlington and Quincy train, and will remain until to morrow morning. The party will be due in California on Tuesday. General McComb has been notified that the members of the team will be detained in Stockton, to partake of a banquet prepared by the Stockton Guards. The members of the Dearborn Rifle Club waited on the party and tendered the hospitalities of the city. The Democratic State Convention. FOND DU Lac, Wis., Sept. 26. The Democratic State Convention met here to-day with James G. Jenkins as President. The following ticket was nominated: For Governor, Jas. A. Mallory, of Milwaukee; Lieutenant Governor, R. E. Davis; Secretary of State, James B. Hayes; State Treasurer, John Ringle. Suspension of a Massachusetis Savings Bank. PROVINCETOWN, Mass., Sept. 27. The Barnstable savings bank has closed. It is thought it will be able to pay dollar for dollar.

2. September 28, 1877 New-York Tribune New York, NY
Article from New-York Tribune, September 28, 1877

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Article Text

A BANK CLOSED IN RHODE ISLAND. PROVINCETOWN, Mass., Sept. 27.-For the past month a run has been made on the Barnstable Savings Bank, owing to the scare caused by the suspension of the savings bank at Sandwieh. After having paid off depositors to the amount of $75,000, the managers availed themselves of the month's notice required, and up to Monday calls had been made amounting to $175,-

3. September 28, 1877 The Sun New York, NY
Article from The Sun, September 28, 1877

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Article Text

Now it is from Massachusetts that we hear of savings bank troubles. It appears that the suspension of the Sandwich Savings Bank caused a run upon the Barnstable Savings Bank, which has closed its doors, after the depositors had drawn out $75,000 and called for $175,000 more. The Massachusetts savings banks have heretofore stood very high, and have commanded their full share of confidence: and even now it is from only a few of the smaller concerns that unpleasant news is pubfished.

4. September 29, 1877 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, September 29, 1877

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Hayes got cheers from some of the Democrats of the South, but be gets curses from his Republican party associates at the North. He is going to have a hard time, of it, and one of the first and bitterest of the pills be will have to swallow will be the defeat of the Fepublican ticket in his own State of Ohio. Honest John Sherman writes to the Chairman of the State Committee, imploring his party to carry Ohio, his restless anxiety appearing in every sentence of his letter for he knows what a rebuke Democratic success there will be. But the Republibans are cold and demoralized and they will r ,fuse to respond to the entreaties of Sherman. Now it is from Massachusetts that we hear of savings bank troubles. It appears that the suspension of the Sandwich Savings Bank caused a run upon the Barnstable Savings, Bank, which has closed its doors. the. depositore had drawn out $75,000 and called for $175,000 more. The Massachusetts srvings banks ha ve heretofore stood very high, and have commanded their full share of confidence and even now it is from only a few of the S maller concerns that unpleasant news is published.

5. September 29, 1877 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, September 29, 1877

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The topics considered by the American Health Association at Chicago Thursday were: The destruction of offensive gases from rendering and fertilizing factories," Securing full reports of the causes of mortality in the United States by Dr. Harris's plan," and "For securing uniformity and completeness with registration of vital statistics." The following officers were elected: President, Dr. Elisha Harris, New York; First and Second Vice-Presidents. Drs. Cabell, Virginia, and Johnson, Chicago; Secretary, Dr. E. H. Jones, New York; Treasurer, Dr. Charles F. Tolton, Massachusetts. The Barnstable (Massachushetts) Savings Bank having been subjected to a run, caused by the scare after the suspension of the Savings Bank at Sandwich, has, after paying out $75,000, taken advantage of the month's notice privilege. Up to Monday ealls had been made amounting to $175,000, and it was impossible to realize such an amount without a great sacrifice of investments, consisting largely of real estate in Boston and vicinity, now much depreciated. By passing dividends for a year or two it is thought the bank will be able to pull through. The Havana (Cuba) papers publish particulars of the discovery of what are alleged to be the remains of Columbus in San Domingo. While they do not deny that it is possible that the remains may be those of the great discoverer they consider it to be highly improbable. According to historical statements the remains of Columbus were taken from Spain to San Domingo in 1536, and from San Domingo to Havana in 1796 and interred in the Cathedral. A good story is told by the Marquette (Mich.) Mining-Journal of a former resident of Negaunee, now living in Colorado. He was an explorer of some note, and was one day digging at the foot of a mountain in Boulder county, when a Teutonic gentleman came along and inquired: My goot frient, vat you been do here?" " Oh. I'm only scratching around to see what I can find." Vell, mine frient, I don't know pretty much by dis oxblorin' pisness; auver don'd you could dell me vere I gould find me a gold mine right avay guick Oh, you just find a big pine tree and go to digging in its shadow and you'll find what you want." Dank you, mine frient" and the German went a little way up the mountain, found the shadow of a pine tree, and went to digging. In a short time he found what is now the celebrated Melvina mine, and now our Negauneeite is suing for an interest in the valuable property on the ground that he gave the information which led to its discovery. Young soapsuds and old nicotine have proved fatal in the case of an English lad at Dartmouth Park. He saw some children blowing soap-bubbles on a neighbor's doorstep and borrowed a clay pipe from his father, which be soon broke. He then returned for another, and his father gave him an old wooden pipe which had been lying on a shelf for a year. In an hour the child was very sick, vomiting and becoming very drowsy and deadly pale. At the end of the third day the little fellow's sufferings came to an end. The physician testified at the inquest that the child died from imbibing nicotine contained in the old wooden pipe.

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

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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.

7. October 2, 1877 New-York Tribune New York, NY
Article from New-York Tribune, October 2, 1877

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ANOTHER SAVINGS BANK SUSPENDED. BOSTON, Oct. 1. - Another result of the tremor caused by the suspension of the Barnstable Savings Bank has been the suspension of the Savings Bank at Hyannis, Mass. There has been a run upon the bank for several days. and on Saturday it was thought advisable that payment should be entirely suspended until such time as the present distrust shall subside. The bang has a good standing, and most of its loans are good. At its last report the bank had 1,695 lepositors, and the aggregate deposits amounted to $603,745 28.

8. October 5, 1877 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, October 5, 1877

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THE EAST. Three thousand of the Lehigh & Wilkes. barre Coal Company's miners have accepted the offer of 10 per cent. advance and resumed work Three trunks containing $50,000 in securities have mysteriously disappeared from the Cambridgeport (Mass.) National Bank. The miners of the Pennsylvania Coal Com pany have indefinitely postponed resumption on the company's terms. John S. Morton, President; B. F. Stokes, Secretary, and Samuel P. Huhn, Treasurer, of the Market Street Railway, Philadelphia, and George Vickers, private secretary of Morton, were arrested on the 26th, on the charge of conspiracy to cheat and defraud the company. The arrests were made it.the instigation of the new President and Board of Directors. Warrants are out for the-arrest of others. The annual meeting of the stockholders of the Northern Pacific Railroad was held at New York on the 26th. The report for the year ending Sept. 1 shows that the earnings exceeded the expenses $392,699. Charles B. Wright, of Pennsylvania, was elected President. The Charter Oak Life Insurance Company Directors ask policy-holdere to release 40 per centroof the reserve liabilities. The company will be turned over to a receiver if they refuse. Base-ball on the 27th ult.: Boston 13, Hartford 2: Louisville 9, Chicago 8-ten funings. Maj. Gen Pierson, the commander of the State troops at Pittsburgh: during the late riof, has been arrested on the charge of murder. It is claimed that the General gave the troops the order to fire on the crowd and one Nicholas Stoppel was killed by that fire. Gen. Pierson was admitted to bail in $10,000. The Barnstable (Mass.) Savings Bank has closed. It is stated that depositors will be paid in full. The chromo establishment of Prang & Co. in Boston was burned on the 27th ult. Loss $100,000. Base ball on the 29th: Boston 8, Hartford 4; Cincinnati 11, Chicago 10; Louisville 4, St. Louis 2. Putnam, Conn., was nearly destroyed by on the 30th ult. Loss about $200,000. The Savings bank at Hyannis, Mass., auspended on the 1st. Operations at the mines of the Lehigh & Wilkesbarre Coal Company have been resumed. ,An enthusiastic workingmen's demonstra. tion occurred at Wilkesbarre on the 1st, the occasion being the release from prison under bail of Pouey and Harrison, leaders of the mob during the recent riots, who have been imprisoned at Pittsburgh. They were escorted through the streets by 1,200 working men. The Poppenheusens, of the Long Island (N.Y.) Railway, went to protest on the 1st. WEST AND SOUTH. On the 25th Anderson Shifflet was executed at the jail in Harrodsburg, Va., for the murder of D. G. Lawson. He asserted disinnocence of actual murder on the scaffold-but acknowledged that he knew Lawson was to be murdered, When the trap fell the rope broke, letting Shefflet fall to the ground. At the second attempt he strangled to death, his neek not being broken by the fall. Base ball the 25th: Cincinnati 7, St. Louis 4. Three deaths from yellow-fever and twenty new cases were reported at Fernandina on the 25th. The receiver of the Merchants', Farmers' Mechanics' Savings Bank of Chicago had up to the 25th found as the assets of the concera only $62 in cash and some $20,000 worth of encumbered real estate. The annual sessions of the National Agricultural Congress and the American Public Health Association commenced at Chicago ton the 25th Sidney Myers, President of the Merchants', Farmers' and Mechanics' Savings Bank, of Chicago which suspended recently, bas been "indicted by the Grand Jury for embezzlement of $200,000, and was lodged in jail in default of $200,000 bail. The Grand Jury also indieted the officers of the defunct Protection

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

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€ 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