9304. Muskegon Savings Bank (Muskegon, MI)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
savings bank
Start Date
June 17, 1893
Location
Muskegon, Michigan (43.234, -86.248)

Metadata

Model
gpt-5-mini
Short Digest
bb386f77

Response Measures

Partial suspension, Books examined

Other: Merchants offered to take deposits and certificates to reassure public; articles conflict between 'sixty-day' and 'ninety-day' wording (OCR).

Description

Depositors ran and withdrew $60,000; the bank posted the 90-day (sixty/ ninety-day referenced) notice rule to stop withdrawals. Examiner pronounced the bank 'in good shape.' Articles reference the recent savings bank scare in Chicago as the reason for depositor nervousness. No article states a reopening or permanent closure, so outcome is unclear.

Events (2)

1. June 17, 1893 Run
Cause
Macro News
Cause Details
Depositors became uneasy following the recent savings bank scare in Chicago, producing heavy withdrawals.
Measures
Posted the ninety-day (30/60/90) notice rule to stop withdrawals.
Newspaper Excerpt
After $60,000 had been withdrawn the ninety-day notice rule was posted and the run stopped.
Source
newspapers
2. June 17, 1893 Suspension
Cause
Macro News
Cause Details
Bank invoked the 90-day notice rule in response to heavy withdrawals triggered by the broader savings bank scare (Chicago) and depositor nervousness.
Newspaper Excerpt
At 2:30 o'clock in the afternoon, after $60,000 had been withdrawn, the ninety-day notice rule was posted and the run stopped.
Source
newspapers

Newspaper Articles (4)

Article from Evening Star, June 17, 1893

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Article Text

DEPOSITORS INEEDLESSLY ALARMED. The Examiner Says That the Muskegon Savings Bank is All Right. DETROIT, MICH., June 17.-A Muskegon, Mich., special dispatch to the Free Press says that the depositors of the Muskegon Savings Bank, the largest depository in the city, have been uneasy and have been steadily draining the cash out of the bank. Yesterday the drain became more pronounced, and at 2:30 o'clock in the afternoon, after $60,000 had been withdrawn, the ninety-day notice rule was posted and the run stopped. The bank examiner has been here since the run began and pronounces the institution in good shape. So convinced are merchants that the bank is all right that thev offer to take savings accounts and certificates without discount.


Article from The Sun, June 18, 1893

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Article Text

Run on n Michigan Bank, MUSKEGON. Mich., June 17.-Ever since the savings bank scare in Chicago the savings depositors of the Muskegon Savings Bank. the largest depository in the city. have been uneasy and have been steadily draining the cash out of the bank. Yesterday morning a decided run prevailed. After $60,000 had been withdrawn the ninety days' notice rule was posted and the run stopped. The Bank Examiner has been here since the run began and pronounces the institution in good shape.


Article from Watertown Republican, June 21, 1893

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Article Text

NEWS PARAGRAPHS. ONE of the Booneville, Mo. bank robbers has been captured in Arkansas. DR. GEORGE RABER, a dentist, died at Martinsville, Ind., from a overdose of cocaine. FINKLEY DRESSER & Co., Boston stationers, have assigned. Liabilities, $150,000. MINNIE PALMER'S suit against John R. Rogers for divorce is being heard at New York. THE New York Southern Society has decided to abandon the club features of its organization. THE next meeting of the International Typographical Union will beheid in Louisville, Ky. JUDGMENTS have been entered at Pittsburg against the Duquesne Iron Works for $350,000. A MANDARIAN betrayed French troops at Camoun, Siam, and several French soldiers were slain. A REWARD of $500 has been offered for the arrest of two burglars who killed James R. Harrisat Minneapolis. THE Oregon and Washington Mortgage Company of Portland, Ore., failed with small liabilities and small assets. MRS. JOHN HERMES was chloroformed and robbed of $325 while riding to Cincinnati on an Ohio & Mississippi train. COMPTROLLER ECKELS has appointed Robert M. Ditty receiver of the Citizens' National Bank of Hillsborough, O. JOHN MORIARITY, the murderer of Clell Street, committed suicide in the jail at Anderson, Ind., by hanging himself. ORIN CRANDALL, of Braidwood, Ill., was arrested on a charge of murdering Miss Lou Lester March 25, in Braidwood. GEORGE SMITH, a patient in the Ohio Insane Asylum, was murdered. Other patients say he was killed by brutal attendants. A MASS meeting at Portland, Ore. adopted resolutions calling on President Cleveland to enforce the Chinese exclusion law. DURING the run on the Muskegon, Mich., Savings Bank, $60,000 was drawn out. The usual sixty-day notice has been given depositors. HENRY F. LEGG, a jeweler of Minneapolis, Minn., assigned with liabilities assets of from $40,000 to $50,000. His are placed at the same amount. BURSTING steam pipe on the excursion steamer Josephine, at La Grange, Ill., caused a panic among 1,000 passengers. Several persons were hurt. HARRY GARDNER, a traveling salesman of Ottumwa, Ia., was arrested in Washington, Ia., charged with the embezzlement of $1,000 from his employers. THE steamers Ranger, Mohican and Corwin, and the British man-of-war Petrel, aré at Sitka awaiting orders before proceeding to Behring Sea. EDWARD M. FIELD, supposed to be confined in the State Insane Asylum at Buffalo, N. Y., is permitted to go about the city of Buffalo without an attendant. AT Leadville, Col., Dr. Schmeidinger tried to kill his divorced wife, but only wounded her in the leg. The woman's refusal of a reconciliation led to the shooting. MRS. JOHN KREY, of Dakota County, Minn., was stricken with typhoid fever. She refused to take any medicine, being attended by Christian Scientists. The result was death. THE Kentucky House defeated a bill to move the capital to Louisville. The fight for removal has been going on for forty years, but yesterday's result is final, made SO by the constitution. IT is said that Michael W. Ryan, of Chicago, formerly county clerk, and known among politicians as Big Mike' Ryan, is the dark horse in the race for the collectorship of internal revenue at Chicago. IT was reported that Marie Wainwright, the actress, is to be married to Paul Schultz, of Tacoma, Wash., who is a director of the Tacoma Land Company and president of the Tacoma Club and a millionaire. THE comptroller of the currency at Washington has issued a call on the stockholders of the defunct Capital National Bank at Lincoln, Neb., for a full In assessment of $100 on each share. this way $300,000 will be realized. GEORGE BENEWITZ and Frank Tengen, two more of the men indicted by the grand jury for participation in the socalled ex-Priest Rudolph riot at Lafayette, Ind. came into court and entered pleas of guilty to disturbing a public meeting. EXPERTS who have been examining the books of A. Bailey, the well-known missing grain man at Duluth, Minn., find that he was in debt to his partners in Minneapolis many thousand dollars is at the time of his disappearance. It believed that he committed suicide. CHARLES THORSON died from sunstroke at Ishpeming, Mich. LOCUSTS appeared in Pettis County, Mo., in vast numbers. IDA HAMM, 8 years old, was burned to death at Trenton, Ill., by gasoline exploding. THE Duke of Veragua is no longer a guest of the nation. He will travel incognito. THE paraffine works of Merriam & Morgan at Cleveland, were destroyed by fire. Loss, $200,000. HOLMES CONRAD, of Virginia, has been appointed to succeed John B. Cotton as assistant attorney-general. THE Supreme Lodge of the Knights of Honor has created the office of supreme medical examiner. JOHN SIMPSON, aged 15, was arrested at Steubenville, O., for stealing a horse and trading it for a shotgun. TWD trunks from Toronto were seized at Buffalo and were found to contain pounds of smuggled opium.


Article from Eagle River Review, June 22, 1893

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Article Text

JOHN E. COLLINS comm Remini, Mont., by shooting. His wife, to whom he had married one had gota only Emma, week, divorce. been DREXEL, MORGAN & Co. have conto a modification of the of the sented for reorganization Richmond their assured. plan Terminal and its success is now MAY COLVIN, who escaped from the jail at Carthage, Mo., where she was confined for horse stealing, was recaptured on the border of Indian Territory. MAYOR BOWE, of Fredericksburg, Va., has extended an invitation to the Society of the Army of the Potomac to hold their reunion nextyear in that city A MOB at Sioux City had nearly lynched John Olmar when he was rescued by the police. He had forcibly inentered many dwellings and acted decently ONE HUNDRED guests were assembled Hillsboro, Ill., to attend the wedding Arat of Joseph Cagnet to Miss Gertrude nold, but the prospective groom did not appear. The suicide of Franklin B. Daniels, of of the Boston wholesale clothing firm Daniels & Smith, precipitated the failure of the concern. The liabilities are $150,000. A PORTION of Schneidunehuhl, a manufac uring town of Prussia, is sinking in consequence of the boring of an artesian well. The inhabitants of the district are in danger. DURING the recent freshets in the Ohio and Kentucky rivers at Borden, Ind., there was washed from the banks of the latter stream a mastodon skull perfectly preserved. ANDREW J. NELSON, 21 years old, Kala- of Detroit, Mich., and a student in mazoo College, was drowned while bathing in Woods Lake. S. J. Hall, in another student, nearly lost his life trying to save his friend. ARTHUR BRADWELL, 14 years old, was held to the grand jury at St. Paul, Minn. Paul for placing obstructions on the St. Duluth Railway track. On one occasion & a passenger train ran into the obstruction and was badly damaged. CHARLES SPAYTHE, one of the LeechPa., bank robbers and murderers, burg, with three others, was charged Willwho, with the murder of Councilman iam Shaffer in Leechburg in February convicted last while resisting arrest, was of murder in the second degree. ONE of the Booneville, Mo., bank robbers has been captured in Arkansas. DR. GEORGE RABER, a dentist, died at of Martinsville, Ind., from a overdose cocaine. FINKLEY DRESSER & Co., Boston stationers, have assigned. Liabilities, $150,000. MINNIE PALMER'S suit against John R. at Rogers for divorce is being heard New York. THE New York Southern Society has of decided to abandon the club features its organization. THE next meeting of the Interna- heid tional Typographical Union will be in Louisville, Ky. JUDGMENTS have been entered Iron at Pittsburg against the Duquesne Works for $350,000. MANDARIAN betrayed French troops at A Camoun, Siam, and several French soldiers were slain. REWARD of $500 has been offered killed A the arrest of two burglars who James for R. Harrisat Minneapolis. Oregon and Washington Mort- failed THE Company of Portland, Ore., assets. gage with small liabilities and small JOHN HERMES was chloroformed CinMRS. robbed of $325 while riding to train. cinnati and on an Ohio & Mississippi COMPTROLLER ECKELS has appointed CitiM. Ditty receiver of the O. zens' Robert National Bank of Hillsborough, of JOHN MORIARITY, the murderer in the Street, committed suicide himjail Clell at Anderson, Ind., by hanging self. CRANDALL, of Braidwood, Ill. ORIN arrested on a charge of murdering Braidwas Miss Lou Lester March 25, in wood. GEORGE SMITH, a patient in the Other Ohio Asylum, was murdered. brutal atpatients Insane say he was killed by tendants. meeting at Portland, President Ore. A MASS resolutions calling or Chinese exCleveland adopted to enforce the clusion law. the run on the Muskegon, Mich. DURING Savings Bank, $60,000 notice was drawn has out. The usual sixty-day been given depositors. F. LEGG, a jeweler of liabilities MinneHENRY Minn., assigned with assets apolis, from $40,000 to $50,000. His are of placed at the same amount. the A BURSTING steamer steam Josephine, pipe at on La Grange, passen- excursion Ill., caused a panic among 1,000 hurt. gers. Several persons were HARRY GARDNER, a traveling salesman in WashIa., was arrested embezzleof Ottumwa, Ia., charged with the ington, of $1,000 from his employers. THE the British ment steamers Ranger, Mohican man-of-war and Corwin, and at Sitka awaiting orders fore Petrel, proceeding are to Behring Sea. M. FIELD, supposed to be EDWARD in the State Insane Asylum about at confined N. Y., is permitted to go atteindBuffalo, the city of Buffalo without an ant. Leadville, Col., Dr. Schmeidinger but only AT to kill his divorced wife, woman's tried her in the leg. The the wounded refusal of a reconciliation led to shooting. JOHN KREY, of Dakota County. fever. MRS. stricken with typhoid beMinn., refused was to take any medicine, Scientists. She ing attended by Christian The result was death. bill THE Kentucky House defeared a The