State Bank - Anoka, MN

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: May 6, 1889
Location: Anoka, Minnesota (45.198, -93.387)

Metadata

Model: gpt-5-mini
Short Digest: d13afb907009c5ab

Response Measures

None

Description

Article (New-York Tribune, dateline St. Paul May 6, 1889) reports a run on the Anoka State Bank on May 6, 1889. Bank officials stated they had sufficient funds and offers of aid; no suspension or closure is mentioned. The bank had a recent cashier absconding with $100,000, and rumors about Senator Washburn and the Washburn Mill Company's withdrawal from lumbering helped spark withdrawals.

Events (1)

1. May 6, 1889 Run

Cause: Bank Specific Adverse Info
Cause Details: Rumors about Senator Washburn's financial condition and the Washburn Mill Company's withdrawal from lumbering triggered withdrawals; bank had recently had its cashier Platt abscond with about $100,000.
Measures: Bank officials stated they had sufficient funds to meet demands and had received offers of aid from several sources.
Newspaper Excerpt: The decision of the Washburn Mill Company to withdraw from the lumbering business at Anoka and the rumors regarding United States Senator Washburn's financial condition started a run on the Anoka State Bank on Saturday... during the day $20,000 was drawn out.
Source: newspapers

Newspaper Articles (1)

1. May 7, 1889 New-York Tribune New York, NY

Article from New-York Tribune, May 7, 1889

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Article Text

4 RUN ON SENATOR WASHBURN'S BANK. St. Paul, May 6 (Special).-The decision of the Washburn Mill Company to withdraw from the humbering business at Anoka and the rumors regarding United States Senator Washburn's financial condition started a run on the Anoka State Bank on Saturday. mostly by small depositors, and dering the day $20,000 was drawn out. The run continued this Torning. The bank officials say they have sufficient funds to mest all demands upon It and say that they have in addition received offers of aid from several sources. This is the bank whose eashter. Platt, absconded a few weeks ago with $100,000. General Washburn owns $5,000 stock in the bank all paid up. The bank holds $9,000 of hb raper, and $ some $6,000 of the paper of the Washburn MIP Company. General Washburn telegraphs that there is such word as " fail" in his dictionary.