8216. Salem Savings Bank (Salem, MA)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
December 14, 1893
Location
Salem, Massachusetts (42.520, -70.897)

Metadata

Model
gpt-5-mini
Short Digest
561e876f

Response Measures

Accommodated withdrawals

Description

Multiple newspapers (Dec 14–18, 1893) report a run on the Salem Savings Bank triggered by Murphy's alleged $60,000 embezzlement/defalcation. Reports state the bank was sound, had ample funds, declined outside assistance, and the run ended within days — no suspension or closure reported.

Events (2)
1. December 14, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
Run triggered by alleged $60,000 embezzlement/defalcation by teller Clarence (or Clarence Murphy), creating depositor nervousness.
Measures
Bank officials stated the bank had ample funds, declined offers of assistance from other institutions; increased reward for capture of Murphy (publicized).
Newspaper Excerpt
As a result of Murphy's $60,000 defalcation there was a lively run on the Salem (Mass.) Savings bank yesterday. The bank is perfectly sound and no serious trouble is apprehended.
Source
newspapers
2. December 15, 1893 Other
Newspaper Excerpt
It is thought that the run which was begun yesterday morning on the Salem Savings bank is about at an end, ... The bank has ample funds to stand any run that can be made, and the officials have declined several offers of assistance from other institutions Run on the Bank Ended. SALEM, Mass., Dec. 16.-The run on the Salem Savings bank has come to an end. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. The run on the Salem, Mass., Savings bank has ended. The run on the Salem Savings bank has come to an end. SALEM, Mass., Dec. 16.-The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500. (The repeated lines reflect multiple papers reporting the run ended on Dec. 15–16.)
Source
newspapers

Newspaper Articles (9)
1. December 14, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, December 14, 1893

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Article Text

BRIEFLY TOLD. Mrs. Georgia Anne Porter, widow of Admiral Porter, is dead. Schaefer beat Ives 600 to 347 in the New York billiard tournament last night. The London papers are earnestly urging the proposed increase of the British navy. The House committee on coinage has voted to begin on January 10, the consideration of the Bland bill re-enacting the free silver coinage law of 1837. The owners of the qarries at Cromwell, Conn., as. the result of the hard times, have discharged all the unmarried men in their employ. The striking Washington mill weavers at Lawrence, Mass., have decided to accept the reduction and go to work. As a result of Murphy's $60,000 defalcation there was a lively run on the Salem (Mass.) Savings bank yesterday. The bank is perfectly sound and no serious trouble is apprehended.

2. December 14, 1893 The Providence News Providence, RI
Article from The Providence News, December 14, 1893

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Article Text

Depositors are getting nervous about the condition of the Salem, Mass., Savings bank and have begun a run on the institution. Frank Peck, married, was arrested at Ansonia, Conn., for criminally assaulting Mary E. O'Brien, aged 16, and is held under $700 bonds. J. Stanley Turner, aged 52, one of the most prominent shoe manufacturers of Massachusetts, died at Rockland, Mass., of typhoid fever. Fire at Rogue Bluff, Me., swept off John Wallace's smoke house, fish stand, store and dwelling, with $2000 worth of fish. Loss, $6000. Henry Taylor, a farmer of Clinton, Conn., committed suicide by shooting himself in the mouth. He was a war veteran and 58 years old. Henry McKowell, held for the murder of John Crowley in April, 1891, was brought to Bennington, Vt., from Windsor, where he has been for safe keeping. At a meeting of the farmers of Hartford county, Conn., E. S. Hough of Poquonnock was elected a member of the state board of agriculture to succeed J. B. Noble. Fred W. Hollis, warden in precint 2 of Ward 25, Boston, opened the ballot box in the middle of the day and counted the votes contrary to law and is amenable to a severe punishment. Ex-Governor Heard of Wisconsin addressed the Maine State Dairy conference at Foxcroft, Me., on the subject of "The Progress and Conclusion of Modern Dairy Science as Applied to Practical Dairying." The Northampton, Mass., Methodists dedicated their new wooden church, which cost $25,248, of which $2788 remained unpaid when the exerciscs began. Aftertwo collections, one at the afternoon and one at the evening service, the debt was reduced to about $2000, as one man offered to give $2 for every $1 collected.

3. December 15, 1893 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, December 15, 1893

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Article Text

Plenty of Cash on Hand. SALEM. Mass., Dec. 14.-It is thought that the run which was begnn yesterday morning ou the Salem Savings bank is about at an end, as before the bank closed for the day many depositors had decided not to take ont their money, but they had their books balanced. The bank has ample funds to stand any run that can be made. and the officials have declined several offers of assistance from other institutions

4. December 16, 1893 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, December 16, 1893

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Article Text

Run on the Bank Ended. SALEM, Mass., Dec. 16.-The run on the Salem Savings bank has come to an end. The bank officials have increased the reward offered for Clarence Murphy's cap ture from $100 to $500.

5. December 16, 1893 The Providence News Providence, RI
Article from The Providence News, December 16, 1893

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Article Text

Rewar Capture Increased. SALEM, Mass., Dec. 16.-The run on the Salem Savings bank has come to an end. The bank officials have increased the reward offered for Clarence Murphy's capture from $1.00 to $500.

6. December 18, 1893 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, December 18, 1893

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Article Text

# NEWS IN BRIEF. The house voted to admit Arizona to statehood. Maine's new registration law favors the Republicans. The run on the Salem, Mass., Savings bank has ended. Another case of smallpox has been found in Boston. The Crane Iron company of Philadelphia has assigned. Secretary Carlisle is displeased with the Voorhees silver bill. Flaherty defeated Burns in an 18 round fight at Providence. Schaefer beat Slosson in the New York billiard tournament. Five persons were killed by a railroad accident near Dunkirk. N. Y. Central Americans are said to wish for a United States protectorate. Woburn, Mass., clergymen have organized to relieve the poor of the city. Alban Stockman, said to have two wives, suddenly left Manchester, N. H. Chairman Wilson is not apprehensive of Democratic opposition to the tariff bill. There are many cases of typhoid fever and grip at Wesleyan, Mass., university. M. Georgevich, Servian minister to France, who was stabbed by an anarchist, is likely to die. A bank in South Dakota, controlled by the Vermont Investment company, is in a receiver's hands. Michael Carey, the Southbridge, Mass., wife murderer, attempted suicide in the jail at Worcester. The crew of the Bangor schooner found bottom up at Edgartown, Mass., were probably lost. President Harrison's friends believe that events must make him the Republican candidate in 1896.

7. December 21, 1893 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, December 21, 1893

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Article Text

# NEWS OF THE WEEK. Tuesday, Dec. 12. The schooner Senator Lodge of Gloucester, Mass., is ashore at Port Nova, C. B. A case of smallpox has been discovered in Somerville, Mass. Fifteen hundred Lehigh Valley strikers are out of work The Mohican has been ordered to replace the Philadelphia at Honolulu A train ran off the track at Dedham, Mass., but no one was injured Peru and Ecuador are likely to go to war over the boundary dispute The Great Northern express was held up at Duval, Tex., and the passengers robbed Chicago packers propose to build a tannery to tan the hides from their establishments All Europe is aroused over the anarchist outrage in the French chamber of deputies The amount embezzled by Clarence Murphy, the missing bank teller of Salem, Mass., may reach $60,000 Admiral Hornby says the British fleet in the Mediterranean could not hold its own against the France-Russian fleet More than 700 granite cutters have petitioned the ways and means committee of congress not to reduce the duty on dressed granite Danbury, Conn., hat manufacturers say there is no chance for arbitration in regard to the lockout Olneyville, R. I., manufacturers decided to close their mills for the present, in spite of a vote of the strikers to return to work The grand jury is to investigate the affairs of failed New Hampshire banks Mrs. Halliday, the New York murderess, tried again to kill herself General Doe was confirmed by the senate as assistant secretary of war and Colonel Ruggles as adjutant general of the army Mr. Bland will not call up his free coinage bill until the tariff is disposed of Edward Cunningham, indicted for the murder of William Baxter of Holden, Mass., pleaded guilty to manslaughter. Judge Aldrich stated that he had no authority to pass sentence and left the matter for the January criminal sitting. Wednesday, Dec. 13. Another storm is sweeping the English channel The Columbian liberty bell is $2000 in debt The Austrian crown prince and the czar's daughter are to wed Europe is discussing measures for the suppression of anarchy The British cabinet has decided to spend $40,000,000 to strengthen the navy Directors of the West End railway of Boston voted to reduce the dividend to 5 per cent The train robbers secured from $10,000 to $50,000 booty in the hold-up at Duval, Tex. The question of caring for the great number of employed in Waltham, Mass., is agitating the people of that city The provisions of the Lyford act have been complied with by the cancellation of the $4,500,000 note given by the Bay State Gas company of Massachusetts to the Beacon Construction company Albert Day, who was recently married in Halifax, said to have another wife living in Boston Johnnie Williams, 3 years old, was burned to death at Boston Slosson defeated Schaefer at billiards in New York The provisional government still rules Hawaii Fire in the Donnell block of Portland, Me., occupied by the Atkinson Furniture company, caused a loss of about $200,000 Francois M. Sablon, a mimic and dancer, died in New York, aged 50 years. He was a native of France. Dr. Daniel Peabody, for 30 years a well-known physician of Springfield, Mass., is dead, aged 63 Benjamin J. Hitchings, a well-known New York and Brooklyn lawyer, died at the age of 81 Horace F. Holton of Lancaster, N. H., formerly a prominent anti-slavery worker, and recently a member of the state board of agriculture, is dead, aged 76 Rev. W. H. Elliott, D. D., one of the oldest members of the Philadelphia conference, M. E. church, died at Lebanon, Pa. He was 78 years of age Hon. Jeremiah Murphy, ex-member of congress from Iowa, died at Washington. Mr. Murphy was born at Lowell, Mass., in 1835. Thursday, Dec. 14. Queen Victoria is going to Italy for the winter Depositors are getting nervous about the condition of the Salem, Mass., Savings bank and have begun a run on the institution A death from smallpox occurred at Boston, the first since the present appearance of the disease in that city The coldest temperature of the season is reported from different parts of New England The London Times says England must rule the seas or cease to exist A hotel was burned at Morrisville, Vt Rev. Adam Gatewood, one of the oldest citizens in Attleboro, Mass., died suddenly. He was born in Walsingham, Va., 69 years ago Silk manufacturers have secured some of the concessions asked of the tariff committee The preliminary fight over the anti-option bill in the house is likely to come soon Lamont's friends deny that he is a candidate for governor of New York Brooklyn trolley lines employes want shorter hours Schaefer beat Ives in the New York billiard tournament Charles R. Thorne, Sr., the veteran actor and theatrical manager, is dead The Wilson tariff bill is to be reported to the house Tuesday Twenty-five Mexican rebels and over 200 soldiers were killed in battle An open letter was written by ex-Commissioner Carter denying statements in Gresham's report to the president on the Hawaiian trouble Major Wissmann and Dr. Bumiller have launched a steamer on Lake Nyassa News of the outrage in the French chamber deeply impressed Emperor William A Methodist church was dedicated at Northampton, Mass Julius Jackson of New York, charged with grand larceny, was arrested at Worcester, Mass Heirs of the Warren estate at Portland, Me., demand the discharge of trustees It looks as if the postal card works at Shelton, Conn., would lose the contract A woman and child were burned to death at West Ashford, Conn The striking Washington mill weavers at

8. December 22, 1893 The United Opinion Bradford, VT
Article from The United Opinion, December 22, 1893

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Article Text

Reward For Capture Increased. SALEM, Mass., Dec. 16.-The run on the Salem Savings bank has come to an end. The bank officials have increased the reward offered for Clarence Murphy's capture from $100 to $500.

9. December 22, 1893 The United Opinion Bradford, VT
Article from The United Opinion, December 22, 1893

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NEWS OF THE WEEK. Thursday, Dec. 14. Qasen Victoria is going to Italy for the are getting nervous about the condition of the Salem, Mass., Savings bank and have begun a run on the institution- death from smallpox occurred at Boston, the first since the present appearance of the disease in that city-The coldest temperature of the season is reported from different parts of New England-The London Times says England must rule the seas or cease to exist-A hotel was burned at Morrisville, Vt-Rev. Adam Gatewood, one of the oldest citizens in Attleboro, Mass., died suddenly. He was born in Walsingham, Va., 69 years agoSilk manufacturers have secured some of the concessions asked of the tariff committee-The preliminary fight over the antioption bill in the house is likely to come soon-Lamont's friends deny that he is a candidate for governor of New YorkBrooklyn trolley lines employes want shorter hours Schaefer beat Ives in the New York billiard tournament-Charles R. Thorne, Sr., the veteran actor and theatrical manager. is dead-The Wilson tariff bill is to be reported to the house TuesdayTwenty-five Mexican rebels and over 200 soldiers were killed in battle-An open letter was written by ex-Commissioner Carter denying statements in Gresham's report to the president on the Hawaiian trouble - Major Wissmann and Dr. Bumiller have launched a steamer on Lake Nyassa— News of the outrage in the French chamber deeply impressed Emperor William -A Methodist church was dedicated at Northampton, Mass-Julius Jackson of New York, charged with grand larceny, was arrested at Worcester, Mass -Heirs of the Warren estate at Portland, Me., demand the discharge of trustees—It looks as if the postal card works at Shelton, Conn., would lose the contract -A woman and child were burned to death at West Ashford, Conn-The striking Washington mill weavers at Lawrence, Mass., will return to workThere is great suffering among the striking operatives Olneyville, Frank P. Reardon was held for the grand jury at Portland, Me., for assault with a deadly weapon- Lawrence, Mass., board of trade wants a state road from Lowell to the sea. Friday, Dec. 15. The report that Admiral Gama has issued a monarchical manifesto, is denied -Liverpool is disturbed over the prospects of sharp rivalry by ManchesterFrench deputies fear fresh dynamite outThe Norfolk woolen mills at Stony Brook, Norfolk and Bellingham, Mass., have shut down-Colonel Henry Hastings has been appointed a member of the staff of Governor-elect Greenhalge of Massachusetts-Charges against H. H. Clayton of the Boston weather bureau are being investigated by Professor Harrington-A proposal has been made to have a place established near Boston where coal, wood and groceries may be bought at costPresident Reinhart arrived from London and reported encouragingly on Atchison finances-The Arcade building, Musee theater and Shea's concert hall were burned in Buffalo; loss $1,000,000Mr. Proctor has become president of the civil service commission--The Maharajah of Bhurtpore is dead-The warehouse and contents belonging to the Auburn, Me., Stove Foundry company were burned. Loss, $35,000-Waldo G. Perry of Vermont, chief clerk of the dead letter office, has tendered his resignation to the postmaster general—The stockholders of the Orient Fire Insurance company of Hartford voted to reduceit capital from $1,000,000 to $500,000-George F. Brennan, charged with the murder of Frank E Reynolds, was brought before the New Haven court, pleaded not guilty and was bound over to the next term of the superior court for trial Mrs. Georgia Anne Porter, widow of Admiral Porter, died at Washington, aged 74 years— Lawrence Grinnell, an ex-collector of the port of New Bedford, Mass., is dead, aged 83-Ex-Congressman John Cessna of Bed ford, Pa., died in his 72d yearEdward J. Ashton, ex-mayor of Asheville, one of the most widely known men in North Carolina, is dead. He was 67 years old. Saturday, Dec. 16. Another case of smallpox has been found in Boston--The run on the Salem, Mass., Savings bank has ended-The steel rail department of the Maryland Steel company at Sparrow's Point is to close down-Practical jokers are frightening the Paris aristocracy with sham bombs-The steamer Burgurmeister Petersen was damaged at sea-Two coal barges are ashore on Naushon island, Martha's Vineyard-M. Georgevich, Servian minister to France, who was stabbed by an anarchist, is likely to die -The Crane Iron company of Philadelphia has assigned- Woburn, Mass., clergymen have organized to relieve the poor of the city-Secretary Carlisle is displeased with the Voorhees silver bill -Traffic managers on trial at St. Louis escaped punishment for violation of the interstate commerce law on a technicality— Flaherty defeated Burns in an 18-round fight at Providence-A bank in South Dakota controlled by the Vermont Investment company is in a receiver's hands -Maine's new registration law favors the Republicans-The business of the People's Industrial Insurance company of Norwich, Conn., is to be transferred to the Metropolitan of New York-Marriage licenses in New Brunswick must besigned br the Bord