South Side Bank - Los Angeles, CA

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: June 20, 1893
Location: Los Angeles, California (34.052, -118.244)

Metadata

Model: gpt-5-mini
Short Digest: 3c377243

Response Measures

Full suspension

Other: Multiple banks in Los Angeles closed their doors June 21, 1893; article lists four institutions including South Side Bank.

Description

Article (Wheeling Daily Intelligencer, 1893-06-22) reports that on June 21, 1893 four Los Angeles banks closed their doors including South Side Bank. The piece attributes the situation to an unprecedented run of the last two days (quoting the First National president). OCR shows CALA. corrected to CAL. Sequence: run over June 20-21 leading to suspension/closure. No reopening mentioned.

Events (2)

1. June 20, 1893 Run

Cause: Local Banks
Cause Details: Unprecedented withdrawals over the prior two days affecting Los Angeles banks (contagion among local institutions).
Measures: Paid large volume of checks; heavy payments prior to closure.
Newspaper Excerpt: The unprecedented run of the last two days, during which we paid checks of over $600,000, was more than we could stand.
Source: newspapers

2. June 21, 1893 Suspension

Cause: Local Banks
Cause Details: The bank closed its doors following the heavy withdrawals/run over the preceding days; closure reported with three other local banks.
Newspaper Excerpt: June 21.-Four banks closed their doors to-day. They were the National, Southern California, Broadway Bank and South Side Bank.
Source: newspapers

Newspaper Articles (1)

1. June 22, 1893 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, June 22, 1893

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Article Text

FOUR BANKS FAIL. California Institutions Closed Their Doors Yesterday. Los ANGELES, CALA., June 21.-Four banks closed their doors to-day. They were the National, Southern California, Broadway Bank and South Side Bank. President Melliott, of the First National, said: "The unprecedented run of the last two days, during which we paid checks of over $600,000, was more than we could stand. The amount of liabilities to the depositors will be somewhere in the vicinity of $1,250,000, against which we have all our bills receivable, capital and surplus which will amount in the aggregate to $500,000 more than this sum."