Hyannis Savings Bank - Hyannis, MA

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: savings bank
Start Date: September 30, 1877
Location: Hyannis, Massachusetts (41.653, -70.283)

Metadata

Model: gpt-5-mini
Short Digest: cd36cb23

Response Measures

Full suspension

Other: Receivers appointed after failure to make up impairment (closure).

Description

Newspaper OCR shows variants Hyannes/Hyanues; corrected to Hyannis. October 1877 articles report a run and that payment was entirely suspended; a later 1878 report states the Supreme Court appointed receivers. Cause appears to be contagion from the suspension of the Barnstable Savings Bank (local banks distress).

Events (3)

1. September 30, 1877 Run

Cause: Local Banks
Cause Details: Run was triggered by a 'tremor' caused by the suspension of the Barnstable Savings Bank (contagion/fear from other local bank failure).
Measures: Bank and directors deemed it advisable to suspend payments (see suspension following run).
Newspaper Excerpt: There was a run on the bank several days.
Source: newspapers

2. October 1, 1877 Suspension

Cause: Local Banks
Cause Details: Direct suspension of payments due to distrust following the Barnstable savings bank suspension and the recent run.
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.