South Boston Savings Bank

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: 2cbac696

Response Measures

Accommodated withdrawals

Description

Two contemporaneous articles (Jan 26–27, 1914) report a run on South Boston Savings Bank driven by an unfounded rumor. Bank remained open, paid depositors as presented; no suspension or receivership mentioned.

Events (1)

1. January 26, 1914 Run

Cause: Rumor Or Misinformation
Cause Details: Unfounded rumor circulated that the institution was not in good condition, prompting large withdrawals.
Measures: Kept doors open after hours to pay depositors; paid every depositor as fast as money could be handled; police guarded the bank.
Newspaper Excerpt: SERIOUS RUN ON BOSTON BANK. Hundreds Withdraw Funds... 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

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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.