8769. State Savings Bank (St Paul, MN)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
January 1, 1893*
Location
St Paul, Minnesota (44.944, -93.093)

Metadata

Model
gpt-5-mini
Short Digest
978e5ccabd9f0473

Response Measures

None

Description

During the 1893 panic the bank invoked 60-day notice limits on withdrawals (a partial suspension of immediate payments). The September notice (printed Sept. 15 in the article) announces that the 60-day requirement is withdrawn and ordinary payments will resume. No run is described in the articles — this is a suspension (temporary limits) followed by resumption.

Events (2)
1. January 1, 1893* Suspension
Cause
Macro News
Cause Details
During the national panic of 1893 the bank imposed sixty-day notice requirements limiting immediate withdrawals.
Newspaper Excerpt
When the panic was on, the bank, in common with all the saving banks of the country availed itself of the time limit check which its rules permit, and depositors were asked to give sixty days' notice that they wanted their funds.
Source
newspapers
2. September 15, 1893 Reopening
Newspaper Excerpt
Depositors who have heretofore given notice of withdrawals are hereby notified that they need not wait for the expiration of the sixty days ... all sums needed in the ordinary course of business will be paid to them on request in the same manner as before the panic. JULIUS M. GOLDSMITH, Treasurer.
Source
newspapers

Newspaper Articles (2)
1. September 23, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, September 23, 1893

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Article Text

STATE SAVINGS BANK. The Sixty-Day Notices Demanded Withdrawn. There has been presented no better evidence of confidence restored and more prosperous times than has been offered by the action of the State Savings bank of this city. When the panic was on, the bank. in commonwith all the saving banks of the country availed itself of the time limit check which its rules permit, and depositors were asked to give sixty days' notice that they wanted their funds. Matters have now SO far resumed their normal condition that the following notice has been issued: THE STATE SAVINGS BANK. ST. PAUL, Minn., Sept. 15. 1895.-Depositors who have heretofore given

2. September 23, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, September 23, 1893

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Article Text

notice of withdrawals are hereby notified that they need not wait for the expiration of the sixty days prescribed by said notices, for money they may need presently, but that all sums, needed in the ordinary course of business, will be paid to them on request in the same manner as before the panic. JULIUS M. GOLDSMITH, Treasurer. This is an excellent step, and shows that the State Savings bank is keeping up with the business procession. The Exeelsior Dairy is the only place to buy 25 and 30-cents butter for 20 cents; it must be sold. EXCELSIOR DAIRY Co., 31 East Seventh Street.