Peoples Savings Bank - Worcester, MA

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: January 17, 1876
Location: Worcester, Massachusetts (42.263, -71.802)

Metadata

Model: gpt-5-mini
Short Digest: b81a161e

Response Measures

Accommodated withdrawals

Description

Article (Rutland Daily Globe, 1876-01-19) reports a slight run caused by rumors of the cashier absconding and the bank being unsound; the paper states the rumors are untrue and the bank is able to meet all demands. No suspension or closure mentioned.

Events (1)

1. January 17, 1876 Run

Cause: Rumor Or Misinformation
Cause Details: Unfounded rumors that the cashier had absconded and that the bank was unsound; article states there is no truth to the rumors.
Measures: Bank able to meet all demands; no special suspension or remedial measures reported.
Newspaper Excerpt: Rumors which have been afloat for the past few days of the absconding of the cashier and general unsound condition of the bank, caused a slight run on the People's savings bank of Worcester, Monday.
Source: newspapers

Newspaper Articles (1)

1. January 19, 1876 The Rutland Daily Globe Rutland, VT

Article from The Rutland Daily Globe, January 19, 1876

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Article Text

from the Cohoama county, Miss., jail at Friar's Point, before dawn last Saturday, and shot dead by 8 masked mob. The Springfield city council, Monday, reduced the salaries of all city officials from 10 to 50 per cent. The police were cut down from $1000 to $850, the chief engineer of the fire department from $1500 to $1250, the city engineer from $1800 to $1200, and the mayor from $1400 to $1200. Maine has made all arrangements for the exposition of her material and industrial products at Philadelphia. Twelve hundred feet of space has been set apart for textile fabrics. Lewiston will furnish about threefourths of this display. A full show of granite, slate, iron felspar and other peculiar deposits of wealth will be made. Rumors which have been afloat for the past few days of the absconding of the cashier and general unsound condition of the bank, caused a slight run on the People's savings bank of Worcester, Monday. A considerable run was expected yesterday, though there is no truth in the rumors, and the bank is abundantly able to meet all demands. The particular rapid transit project on the Michigan mind just now is a ship canal from the mouth of the Kalamazoo river to Detroit, 180 miles, at an estimated cost of $8,000,000, and to make possible the freighting of wheat or corn to Liverpool at 15 cents a bushel. Of course the government is to be asked to lend a helping hand, and the projectors, with a cheek that would do credit to Tom Scott. propose to ask congress for $15,000 to pay for the preliminary surveying.