Oakland Bank of Savings

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: April 25, 1906
Location: Oakland, California (37.804, -122.271)

Metadata

Model: gpt-5-mini
Short Digest: 2ce5d1cd

Response Measures

None

Description

Article (Apr 25, 1906) reports city banks reopening by direction of the State Bank Commissioners; no discrete run on this specific bank is described. Cause of suspension appears to be government action (state-directed closure) — likely the wider 1906 earthquake banking holiday — so I classify as suspension then reopening. 'Bank of Savings' does not unambiguously indicate a national/state/trust charter from the text, so bank_type set to unknown.

Events (2)

1. April 25, 1906 Reopening

Newspaper Excerpt: All the banks of the city opened today, by direction of the State Bank Commissioners. Savings bank depositors were permitted to withdraw small amounts. ... W. W. Garthwaite of the Oakland Bank of Savings said: 'Up to last night the local banks had received from the U. S. Mint about $2,000,000.'
Source: newspapers

2. April 25, 1906 Suspension

Cause: Government Action
Cause Details: Banks had been closed and were ordered to reopen by the State Bank Commissioners (citywide/state-directed suspension).
Newspaper Excerpt: All the banks of the city opened today, by direction of the State Bank Commissioners.
Source: newspapers

Newspaper Articles (1)

1. April 26, 1906 The San Francisco Call San Francisco, CA

Article from The San Francisco Call, April 26, 1906

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Article Text

OAKLAND BANKS RESUME AND DEPOSITS ARE LARGE Funds Received Reported to Exceed Those That Are Paid Out to Creditors. OAKLAND, April 25.-All the banks of the city opened today, by direction of the State Bank Commissioners. Savings bank depositors were permitted to withdraw small amounts. Commercial business is receiving attention in the usual manner. A committee of bankers is formulating a plan for reopening all the interior banks at the earliest possible moment. The limit put upon savings bank patrons who desired to withdraw money today was set at $30. No limit was put upon commercial bank business, although the understanding prevailed that no large sums should be taken out except in cases of great necessity. The money will be released in larger amounts from day to day. Despite the supposed scarcity of cash in circulation, a large amount of money was brought in for deposit It is estimated that ten times the amount of money taken out was brought in for deposit. W. W. Garthwaite of the Oakland Bank of Savings said: "Up to last night the local banks had received from the U. S. Mint about $2,000,000. Today about $2,000,000 more came from the mint. If deposits continue to be made as they were today we shall not require much more money from the mint. Each bank has received a share of the gold from the city. The banks will hold meetings daily at 4 o'clock to insure harmony of action."