947. Nippon Bank (Sacramento, CA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
October 18, 1909
Location
Sacramento, California (38.582, -121.494)

Metadata

Model
gpt-5-mini
Short Digest
a89d5ea8

Response Measures

Full suspension, Books examined

Other: Bank voluntarily notified State Bank Commissioner; superintendent took charge.

Description

Depositors ran after closing of other Japanese banks (SF and LA); Nippon voluntarily closed and notified the State Bank Commissioner and the state superintendent took charge. Contemporary coverage indicates the bank did not reopen in these articles. Corrected/normalized dates to October 1909 per articles.

Events (3)
1. October 18, 1909 Run
Cause
Local Banks
Cause Details
Run was triggered by the recent closing of the Japanese-American bank in San Francisco and its branch in Los Angeles, which sparked anxious depositors to withdraw from Nippon.
Measures
Bank officers telephoned Superintendent Alden Anderson and asked him to take charge; bank had considerable cash reserve but lacked liquid assets to withstand the run.
Newspaper Excerpt
on account of the closing of the Japanese-American bank in this city and Los Angeles Monday, a run was started by the anxious depositors
Source
newspapers
2. October 19, 1909 Suspension
Cause
Local Banks
Cause Details
Voluntary suspension/closure was a direct consequence of the depositor run precipitated by closures of other Japanese banks in the region; bank informed State Bank Commissioner and superintendent took charge.
Newspaper Excerpt
The Nippon bank of Sacramento voluntarily closed its doors to-day and advised State Bank Commissioner Anderson of its suspension.
Source
newspapers
3. October 20, 1909 Other
Newspaper Excerpt
after run on the bank for the past four days had taken all $30.000 cash which the institution had on hand.
Source
newspapers

Newspaper Articles (11)
1. October 20, 1909 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, October 20, 1909

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SACRAMENTO JAPANESE START RUN ON BANK Alden Anderson Compelled to Take Charge of Institution Another Japanese bank, the Nippon bank of Sacramento, was closed yesterday morning by Superintendent of Banks Alden Anderson. The condition of the Nippon bank was not such as would warrant closing, but early yesterday morning, on account of the closing of the Japanese-American bank in this city and Los Angeles Monday, a run was started by the anxious depositors, which soon grew to such large proportions that the officers telephoned to Anderson and asked him to take charge. "The Nippon bank was not in a bad condition," said Anderson yesterday. "It had considerable cash reserve, but no liquid assets with which to protect itself when the run started. It is possible that it will recover from the run and again place itself on a firm basis, but it will have to change the form of its assets to a large extent to be in a condition to withstand a run." The Japanese banks of this state, outside of the larger ones in which foreign capital is invested, have made a habit of loaning money to Japanese merchants with only the merchandise as a security. When business became dull the merchants closed shop and went to the country to pick fruit and the banks never realized on their notes. This has not been the case with all Japanese banks, but with the few that have been closed by the superintendent. Ogden Bank Closes OGDEN, Utah, Oct. 19.-The local Japanese-American bank is now in the hands of the state bank examiner. The closing of the institution this morning caused no little uneasiness and excitement among the Japanese depositors. The officers of the bank hurriedly met and discussed the situation, the result being that they asked permission of the state bank examiner to place the following notice upon the door: "This bank is temporarily closed. The same is due to the closing by the California state banking superintendent on October 18, 1909, of the main bank at San Francisco and the branch bank at Los Angeles." The local Japanese association desires it to be known that the closing of the local bank is not due to its insolvency, but because of the condition of the bank at San Francisco.

2. October 20, 1909 New-York Tribune New York, NY
Article from New-York Tribune, October 20, 1909

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TWO MORE JAPANESE BANKS CLOSE. Depositors Excited at Ogden-Sacramento Institution Acts Voluntarily. Ogden. Utah, Oct. 19.-The Ogden Japanese-American Bank was closed to-day bv the State Bank Examiner. At one time so large a crowd of depositors gathered at the bank entrance that a deputy sheriff was called to disperse them. Many of the Japanese did not understand the situation until the following notice was placed on the door: "This bank is temporarily closed. The same is due to the closing by the California State Banking Superintendent on October 18, 1909, of the main bank at San Francisco and the branch bank at Los Angeles." Sacramento, Cal., Oct. 19.-The Nippon Bank of Sacramento voluntarily closed its doors to-day and advised State Bank Commissioner Anderson of its suspension. This is the second Japanese bank in this city to close within a week.

3. October 20, 1909 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, October 20, 1909

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Japanese Bank Closes SACRAMENTO, Oct. 19.-The Nippon bank of Sacramento voluntarily closed its doors this afternoon and notified Bank Commissioner Anderson of its suspension. This is the second Japanese bank in this city to close within a week.

4. October 20, 1909 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, October 20, 1909

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Second Jap Bank Closes. Sacramento, Cal., Oct. 19.-The Nippon bank of Sacramento voiuntarily closed its doors today and notified State Bank Commissioner Anderson of its suspension. This is the second Japanese bank in this city to close within a week.

5. October 21, 1909 The Oskaloosa Herald Oskaloosa, IA
Article from The Oskaloosa Herald, October 21, 1909

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Another Jap Bank Closed. Sacramento, Cal., Oct. 20.-The Nip. pon Bank of Sacramento voluntarily closed its doors and notified State Bank Commissioner Anderson of its suspension. This is the second Jap anese bank in this city to close within a week.

6. October 21, 1909 The Daily Missoulian Missoula, MT
Article from The Daily Missoulian, October 21, 1909

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JAP BANK CLOSES. Sacramento, Cal., Oct. 20.-The Nippon bank of Sacramento voluntarily closed its doors today and notified State Bank Commissioner Anderson of its suspension. This is the second Japanese bank in this city to close within a week.

7. October 22, 1909 Watertown Leader Watertown, WI
Article from Watertown Leader, October 22, 1909

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ALLEN IS IN JAIL; LACKS $60,000 BAIL VICE PRESIDENT OF WRECKED MINERAL POINT BANK WON'T SEEK FRIENDS' AID. PRELIMINARY HEARING PUT OFF. Adjournment Will Continue Until United States District Attorney Can Get to Case of Accused Banker. PRISONER MAKES A STATEMENT. MADISON, Wis., Oct. Special.] -The preliminary hearing of Phillip Allen, Jr., vice president of the wrecked First National Bank of Mineral Point. Wis., on the charge of embezzling $168,000 of the bank's funds, was this morning continued by United States Court Commissioner Blake to October 27, and it was agreed that another postponement will be made if District Attorney Gordon or Assistant District Atttorney Morgan have not finished with the regular calendar hearings at La Crosse. Bail was fixed at $60,000, although Allen's attorney, Vroman Mason, district attorney of Dane county. said that if the bail was fixed at $40,000 his client might be able to secure it. An attempt was made to get word to District Attorney Gordon at La Crosse by telephone, but failing to reach him, Commissioner Blake, after a conference with the parties concerned, decided that the bond of $60,000 would be more commensurate with the alleged embezzlement. Fails to Get Bail. Failing to furnish this, it was ordered that Allen remain in the custody of Deputy United States Marshal Kelly. Attorney Mason declared there was no necessity for keeping Allen in jail, but as Deputy Kelly must return to La Crosse, it was ordered that Allen be remanded to the Dane county jail. Allen stated he had friends in Mineral Point who probably would go on his bond but he did not care to ask them. When arraigned and asked by the commissioner what plea he wished to enter Allen said: "I confessed as to certain facts and I will stand by my confession.' Seems in Good Health. If Allen has been seriously ill he did not show any signs of it. He talked willingly and expressed surprise at the growth of Madison since his last visit. Allen frankly stated that he would not commit suicide, as his brother-inlaw, Frank Hanscome, the cashier of the bank, diù, and said that he did not forge any notes or plunder any estates. He said that he made money on every deal he engineered and that he turned over to the bank securities of the value of $250,000, which would more than cover the alleged shortage. No Indictment Returned. LA CROSSE, Wis., Oct. 20.-[Special.]-It is understood that SO far no indictment has been returned against Phil Allen, Jr., vice president of the First National bank of Mineral Point, by the grand jury in session here. The impression prevails that after the indictment is returned Allen will be brought here before Judge Sanborn for hearing. Two Funerals Are Held. MINERAL POINT, Wis., Oct. 20. The funerals of Frank E. Hanscom. cashier of the First National bank, who committed suicide Sunday night, and that of his mother-in-law, Mrs. John Gray, who was killed by the shock of Hanscom's death, took place this afternoon. Hanscom was buried in Graceland cemetery by the side of his father and his mother. between whose graves he fired the shot that ended his life. Sacramento Bank Closes. SACRAMENTO, Cal., Oct. 20.-The Nippon Bank of Sacramento voluntarily closed its doors today and notified State Bank Commissioner Anderson of its suspension. This is the second Japanese bank in this city to close within a week. Predict Banker's Death. OXFORD. Mich., Oct. 20.-The belief here is that M. Lee Hagle, the missing village treasurer and banker, probably never will be brought back to his home town alive. Those who make these conjectures do SO on the assumption that worry may drive him to the point of distraction where he will end his life. After more thorough investigation it is a learned that Hagle's liabilities amount to approximately $42,000. Town Forgeries Charged.

8. October 28, 1909 The Carlisle Independent Carlisle, AR
Article from The Carlisle Independent, October 28, 1909

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and indorsement of the present sys tem of forest protection were the burden of reports presented by two committees to the convention of the Carriage Builders' National association in Washington. Armed with a certificate of a marriage that she says never took place, Miss Alice O. Anderson, 19 years old. of Derry, Pa., is in St. Louis on the trail of Charles A. Shanefelt of Bradenville, Pa., who, she says, disappeared after the justice had come to perform the ceremony. The Presbyterian and Hahnemann hospitals of New York will each be about $900,000 richer by the will of Mitchell Valentine, a money lender of Westchester village, who died at the age of 85 years, leaving an estate worth $2,000,000. One of the Italian military dirigible balloons went from Bacciano to Rome, a distance of 19 miles. in 30 minutes. executed over the and passing over The city, dirigible evolutions the gardens of the Vatican, was seen by the Pope. The pontiff stopped to watch and admire the evolutions. The Bank of Minocqua, Dis., was robbed by four masked men. The robbers blew open the vaults and escaped A with several thousand dollars. posse has the robbers surrounded in the woods between Hazelhurst and Minocqua. "Matt" Henson. the negro who accompanied Commander Peary on his polar dash, was the guest of honor at a the York dinner City's given negro by population. leaders A of heavy New gold watch and chain with miniature gold icebergs linked together were presented to Henson. The Nippon bank of Sacramento, Cal., voluntarily closed its doors and notified State Bank Commissioner Anderson of its suspension. This is the second Japanese bank in that city to close within a week. The explosion of a boiler in the government Indian school at Rapid City, Mich. resulted in the death of Adolph Russell, a pupil from the Pine Ridge reservation, and the probable fatal injuries of Ronald Whitfeather, another student. For the first time in California, a woman was sworn in to serve as a juror, when Mrs. Johanna Engelman, of Santa Monica, took her place in the jury box of department 3 of the superior court of Los Angeles county Use of the words "so help me God' at the end of oaths may be prohibited in the courts of the District of Columbia, if congress passes a law which is now being drafted by the commissioners of the District of Columbia. Howard A. Robinson, of Memphis, Tenn., a cousin of Lamar A. Harris, the Los Angeles attorney who committed suicide after robbing the Erskine bank at Highland Park, Ill., arrived in Chicago and identified the body positively as that of his cousin. Uncle Sam grew financially fat off industrious inventors last year, the records showing that revenues in fees from this source were sufficient to pay $1,887,443 in expenses for runing the United States patent office and leave a surplus of $88,476. The fourth annual convention of the American Meat Packers' association opened in Chicago. Five hundred dellegates from all parts of the country have arrived. Gov. Deneen welcomed the delegates at the opening of the conventon. Col. J.C.S. Blackburn, of Kentucky, head of the department of civil administration in the Panama can: zone, is in New York. Colonel Blackburn denied that he contemplated resigning as governor of the canal zone. Deer are so plentiful in Franklin county, a., that farmers in the mountains are losing money by their depredations. Deers destroyed 400 head of cabbage in one field. Jack Johnson vindicated his right to the heavyweight championship ti. tle by knocking out Stanley Ketchel in twelve rounds of a twenty-round fight at San Francisco. A new "Jack the Ripper" has apeared in St. Petersburg, Russia. Ie has already murdered three girls. At Stuttgart, Ark., Dr. A. D. Bunn has threshed an average of more than 1141/2 bushels of Japan rice on 19 acres, and 81 bushels of Honduras rice to the acre on 21 acres. The head of L. W. Smith, one of the most enthusiastic baseball fans in Atlanta, Ga., is completely bare of hair as a result of betting that the Pittsburg team would win the world's series in five games. A pure white quail was killed by three boys near Coshocton, Ohio. It was with a covy of ordinary quail. Harry Hall, 11, a negro, opened the door of George Antille's chicken house in the north part of Wellington, Kas., o'clock in the morning shot-

9. October 29, 1909 The Grenada Sentinel Grenada, MS
Article from The Grenada Sentinel, October 29, 1909

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The dead are Carl R. Mueller, 42, a contractor, and John Zaicu, 30, hod carrier. Emperor William's private secreta y, Privy Councilor Albert Meissner lied in Berlin. In a letter of condo ence to the widow the emperor said Meissner was a man "to whom I gave ny complete contidence." Miss Clara Bereman, who is visiting riends in Indianapolis, was in the act of stepping from a street car, when it the started quickly, hurling her to avement, her head striking the coblestones. Serious injury to the skull was prevented by a large "rat" which he woman had in her hair. Mont Hall, proprietor of the Demont notel, at Seneca, Mo., was tried in the trcuit court on the charge of keeping a gambling house. The jury returned 1 verdict of guilty and fixed the punshment at two years in the peniteniary. Republicans of the Sixth Illinois Congressional district nominated Willam J. Moxley for congress to succeed Villiam Lorimer, elected senattor by he last legislature, to succeed Albert . Hopkins. Frank S. Ryan was nomnated by the Democrats. Federal aid for the construction of tood roads throughout the country nd indorsement of the present sysem of forest protection were the burlen of reports presented by two comnittées to the convention of the Cariage Builders' National association in Vashington. Armed with a certificate of a mariage that she says never took place, Miss Alice O. Anderson, 19 years old, f Derry, Pa., is in St. Louis on the rail of Charles A. Shanefelt of Bralenville, Pa., who, she says, to disapeared after the justice had come erform the ceremony. The Presbyterian and Hahnemann hospitals of New York will each be bout $900,000 richer by the will of Mitchell Valentine, a money lender of Vestchester village, who died at the ge of 85 years, leaving estate vorth $2,000,000. One of the Italian military dirigible alloons went from Baeciano to Rome, 1 distance of 19 miles, in 30 minutes. The dirigible executed evolutions over he city, and passing over the gardens f the Vatican, was seen by the Pope. The pontiff stopped to watch and adhire the evolutions. The Bank of Minocqua, Dis., was obbed by four masked men. The robers blew open the vaults and A escaped with several thousand dollars. osse has the robbers surrounded in he woods between Hazelhurst and "Matt" Minocqua. Henson, the negro who ac. ompanied Commander Peary on his olar dash, was the guest of honor at dinner given by the leaders of New ork City's negro population. A heavy old watch and chain with miniature old icebergs linked together were resented to Henson. The Nippon bank of Sacramento, al., voluntarily closed its doors and otified State Bank Commissioner Anerson of its suspension. This is the econd Japanese bank in that city to lose within a week. The explosion of a boiler in the govrnment Indian school at Rapid, City, Iich., resulted in the death of Adolph tussell, a pupil from the Pine in- Ridge eservation, and the probable fatal uries of Ronald Whitfeather, another For tudent. the first time in California, a cman was sworn in to serve as a uror, when Mrs. Johanna in Engelman, f Santa Monica, took her place he jury box of department 3 of the uperior court of Los Angeles county. Use of the words "so help me God" t the end of oaths may be prohibited n the courts of the District of is Columia, if congress passes a law which ow being drafted by the commissionrs of the District of Columbia. Howard A. Robinson, of Memphis, 'enn., a cousin of Lamar A. Harris, he Los Angeles attorney who commited suicide after robbing the Erskine ank at Highland Park, III., arrived n Chicago and identified the body

10. October 29, 1909 The Green Forest Tribune Green Forest, AR
Article from The Green Forest Tribune, October 29, 1909

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for the construction of throughout good Federal roads aid the present country sys. indorsement of the bur and of forest protection were two the comtem of reports presented by Carden to the convention of the in riage mittees Builders' National association Washington. Armed with a certificate of a place, marthat she says never took old, Miss riage Alice O. Anderson, 19 years the Derry, Pa., is in St. Louis of on Braof of Charles A. Shanefelt disaptrail denville, Pa., who, she says, to peared after the justice had come perform the ceremony. Presbyterian and Hahnemann be New York will $900,000 richer by about hospitals The of the lender each will of of Mitchell Valentine, a money at the Westchester village, who died estate age of 85 years, leaving an worth $2,000,000. One of the Italian military dirigible Rome, went from Bacciano to minutes balloons distance of 19 miles, in 30 over The a dirigible executed evolutions gardens city, and passing over the Pope. the the Vatican, was seen by the and adThe of pontiff stopped to watch mire the evolutions. The Bank of Minocqua, Dis., The was robrobbed by four masked men. escaped bers blewropen the vaults and dollars. A with several thousand has the robbers surrounded and in the posse woods between Hazelhurst Minocqua. "Matt" Henson, the negro who on his acCommander Peary honor at companied dash, was the guest of of New polar dinner given by the leaders heavy a City's negro population. miniature A York watch and chain with were gold gold icebergs linked together presented to Henson. The Nippon bank of Sacramento, and voluntarily closed its doors Annotified Cal., State Bank Commissioner is the of its suspension. This to second derson Japanese bank in that city close within a week. The explosion of a boiler in the City, govIndian school at Rapid Mich., ernment resulted in the death of Adolph Ridge Russell, a pupil from the Pine fatal inreservation, and the probable another juries of Ronald Whitfeather, student. For the first time in California, a a was sworn in to serve as woman when Mrs. Johanna Engelman, in juror, Santa Monica, took her place of the the of jury box of department 3 county. superior court of Los Angeles God' Use of the words "so help me the end of oaths may be prohibited Columat the courts of the District of is in congress passes a law which drafted by the bia, now if being Columbia. commission of the District of ers Howard A. Robinson, of Memphis, Harris, a cousin of Lamar A. commitTenn., Los Angeles attorney who Erskine the ted suicide after robbing the arrived bank at Highland Park, Ill., body in Chicago and identified the as that of his Sam grew the off positively Uncle financially cousin. year, fat industrious inventors last fees records showing that revenues in to from this source were sufficient $1,887,443 in expenses for office runpay United States patent leave a surplus of and ing the convention $88,476. of The fourth annual the Meat Packers' association delAmerican opened in Chicago. Five hundred from all parts of the welcomed country egates arrived. Gov. Deneen the have the delegates at the opening of conventon. Col. J. C. S. Blackburn, of Kentucky, head of the department of civil canal administration in the Panama is in New York. Colonel Black- rezone, denied that he contemplated canal signing burn as governor of the zone. Deer are so plentiful in Franklin mouncounty, a., that farmers in the their tains are losing money by 400 depredations. Deers destroyed head of cabbage in one field. Jack Johnson vindicated his right tithe heavyweight championship to tle by knocking out Stanley Ketchel in twelve rounds of a twenty-round fight at San Francisco. "Jack the Ripper" in St. Petersburg, peared A new has Russia. girls. apHe has already murdered three Ark., Dr. A. D. Bunn an average of more 19 has At threshed Stuttgart, rice on than 114 1/2 bushels of Japan acres, and 81 bushels of Honduras rice to the acre on 21 acres. head of L. W. Smith, one of the baseball of in Ga., is most Atlanta, The enthusiastic completely that bare fans the hair as a result of betting Pittsburg team would win the world's series in five games. A pure white quail was killed by It three boys near Coshocton, Ohio. was with a covy of ordinary quail. Hall, 11, a negro, opened the George Antille's door Harry of Wellington, chicken house Kas., in the north part of shotat 3 o'clock in the morning. A door arranged to be fired when the into gun was opened blew a load of shot the boy's shoulder. The Kansas state board of railroad commissioners have demanded of the Pullman company that the same rates be granted in Kansas as have been given Oklahoma. A silver medal in recognition by of gallant service has been awarded M. treasury department to F. the adiutant general of Missou Dumholdt

11. October 20, 1934 The Sacramento Union Sacramento, CA
Article from The Sacramento Union, October 20, 1934

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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.