Multiple articles (Oct 14–20, 1909) report a mild run on the Japanese Bank of Sacramento that depleted cash reserves and the bank was closed on Oct 14, 1909 by State Bank Examiner Alden Anderson. Coverage attributes the run to rumors/postal card misinformation; the bank was ordered closed by state banking authorities and did not reopen in the reporting. Related Japanese institutions (Nippon Bank of Sacramento, and Japanese-American Bank branches) were also closed by the superintendent around the same time. Dates inferred from publication dates and text. OCR corrections: 'Jap anese' -> 'Japanese'.
Events (2)
1.October 13, 1909Run
Cause
Rumor Or Misinformation
Cause Details
Circulation of rumors and postal cards telling depositors the bank was in bad shape led to a rush of withdrawals that depleted reserves.
Measures
Withdrawals depleted reserve funds; precipitated state examiner intervention and closure.
Newspaper Excerpt
Rumors had been abroad for several days that the bank was in bad shape and yesterday there was a mild run on the institution.
Source
newspapers
2.October 14, 1909Suspension
Cause
Government Action
Cause Details
Closed by order of State Bank Examiner Alden Anderson following an examination and a recent run that exhausted the cash on hand.
Newspaper Excerpt
The Japanese bank of Sacramento closed its doors at 9 o'clock this morning on orders from State Bank Examiner Alden Anderson
Source
newspapers
Newspaper Articles (7)
1.October 14, 1909The Tacoma TimesTacoma, WA
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Article Text
JAPANESE BANK CLOSED. SACRAMENTO, Cal., Oct. 14. The Japanese bank of Sacramento closed its doors at 9 o'clock this morning on orders from State Bank Examiner Alden Anderson, who came up from San Francisco last night. Rumors had been abroad for several days that the bank was in bad shape and yesterday there was a mild run on the institution. Mr. Anderson ha dnotified the bank several weeks ago to get Its affairs into better shape and to make a showing in securities, but the bank failed to respond.
2.October 15, 1909The Seattle StarSeattle, WA
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Article Text
Sacramento-The Japanese Bank of Sacramento closed Its doors this morning upon orders from State Bank Examiner Anderson. The bank is in bad shape and yesterday there was a mild run.
3.October 19, 1909The Salt Lake Herald-RepublicanSalt Lake City, UT
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Article Text
JAP BANKS RUN AGAINST SNAG Three in California Closed— Doors of Ogden Bank Not Yet Shut. San Francisco. Oct. 18.-The JapaneseAmerican bank of this city was closed today by State Superintendent of Banking Alden Anderson, after an examination conducted by the state bank commissioners since Aug. 25 of this year. It was hoped by the commissioners that the bank's affairs would be adjusted without drastic action, but a crisis was brought on by a run on the Los Angeles branch. which was caused by the rumor that the Sacramento Japanese bank, closed recently by the commission, was connected with the Japanese-American bank. On receipt of news of a run on the Los Angeles branch, Superintendent Anderson ordered the immediate closing of both the San Francisco bank and the Los Angeles branch. The bank has a branch in Ogden also, and a telegram was sent to the governor of Utah by the California bank commissioners suggesting that this be closed.
4.October 19, 1909The Fargo Forum and Daily RepublicanFargo, ND
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Article Text
15 Cents on Dollar. San Francisco, Oct. 19.-The affairs of the Japanese American bank of this city which was closed yesterday by State Supt. of Banking Alden Anderson, were said to be in a muddled condition. A run on the Los Angeles branch, caused by the rumor that the Sacramento Japanese bank, closed recently by the commissioner, was connected with the Japanese American bank, brought on the crisis. State Superintendent Anderson said last night SQ many of the loans were made on worthless securities that it is hardly likely the depositors will obtain more than fifteen cents on the dollar.
5.October 21, 1909The San Francisco CallSan Francisco, CA
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Article Text
POSTAL CARDS CAUSE SUSPENSION OF BANKS Sent to Depositors of Japanese Institutions in Sacramento [Special Dispatch to The Call] SACRAMENTO, Oct. 20.-The circulation of postal cards by enemies of the banks to the depositors brought about the mysterious and sudden crash that closed the doors of the Sacramento Japanese bank and the Nippon bank of Sacramento in the last few days. The postcards coming from an unknown source notified depositors that the banks were in bad shape and that they had better close their accounts at once. The result was that there was a great rush of depoitors, and the reserve funds of the institution were depleted.
6.October 22, 1909The Meridian TimesMeridian, ID
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Article Text
Big Japanese Bank Closed. San Francisco.-The JapaneseAmerican bank of this city was closed Monday by State Superintendent of Banking Alden Anderson, after an examination conducted by the state bank commissioners since August 25 of this year. It was hoped by the commissioners that the bank's affairs wuold be adjusted without drastic action, but a crisis was brought on by a run on the Los Angeles branch, which was caused by the rumor that the Sacramento Japanese bank, closed recently by the commission, was connected with the Japanese-American bank.
7.October 20, 1934The Sacramento UnionSacramento, CA
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Article Text
25 YEARS AGO TODAY
October 1909
The Nippon Bank of Sacramento, Japanese institution, was closed today by the state bank superintendent after run on the bank for the past four days had taken all $30.000 cash which the institution had on hand. The run the rect result of closing last week of the Jap. anese Bank of Sacramento.
Reception for Rev. S. Jones, who arrived yes terday take charge of the First Methodist church here. was prepared by the congregation members. Rev. Jones came from Chico and sue ceeded Rev. C. Todd Clarke.
The outlook for the orange crop in Northern for this good are that 450 carloads will shipped east. Oro. ville and Fair Oaks are the centers of the principal districts.
