Citizens Savings Institution (Woonsocket, RI)

Episode Information

Episode UID
8924857690941
Episode Type
Run Only
Bank Type
savings
Bank ID
892485769 hash
Start Date
May 1, 1878
Location
Woonsocket, Rhode Island (42.003, -71.515)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
94741191ffbfecf2

Response Measures

None

Description

Articles mention application for an examination and likely injunction but no confirmed suspension.

Events (1)
1. May 1, 1878 Run
Cause
Local Banks
Cause Details
A run affecting savings banks in the city/area (widespread withdrawals from savings banks in the locality).
Measures
Officers applied to the Governor for a commission to examine the bank's contents; sought likely injunction.
Newspaper Excerpt
The officers of the Citizens' Savings Institution, of Woonsocket, applied to the Governor to-day for a commission to examine ... It will probably be enjoined. The run on the savings banks in this city has subsided to a good degree.
Source
newspapers

Newspaper Articles (2)
1. May 2, 1878 The New York Herald New York, NY
Article from The New York Herald, May 2, 1878

Click image to open full size in new tab

Article Text

RHODE ISLAND SAVINGS BANKS. PROVIDENCE, May 1, 1878. The officers of the Citizens' Savings Institution, of Woonsocket, applied to the Governor to-day for a commission to examine 115 contents. It IS a small bank, Laving less than $300,000 deposits. It will probably be enjoined. The run on the savings banks in this city has subsided 10 a good degree.

2. May 2, 1878 New-York Tribune New York, NY
Article from New-York Tribune, May 2, 1878

Click image to open full size in new tab

Article Text

SAVINGS BANK TROUBLES. PROVIDENCE, R. I., May 1.-The officers of the Citizens' Savings Institution, at Woonsocket, applied to the Governor to-day for a commission to examine its contents. It is a small bank, having less than $300,000 deposits. It will probably be enjoined. The run on the savings banks in this city has subsided in a good degree. BOSTON, May 1.-The Foxboro, Mass., Savings Bank was yesterday restricted from paying more than 10 per cent to any depositor during the next six months, and 10 per cent additional during the succeeding six months. The deposits now in the bank amount to $198,000.