Sacramento Bank - Sacramento, CA

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: January 1, 1879*
Location: Sacramento, California (38.582, -121.494)

Metadata

Model: gpt-5-mini
Short Digest: 3446a1ba

Response Measures

None

Other: The run described was caused by a misread window notice; no remedial measures detailed.

Description

Article is a 1927 recollection referring to a bank run around 1879 at the Sacramento Bank (Fifth and [streets]). Describes a panic triggered by customers seeing a 'Bank Closed' notice and misreading it; no suspension or closure of this specific bank is reported in the excerpt, so classified as run_only. OCR in the article had missing street names but location (Fifth and ...) is clear from context.

Events (1)

1. January 1, 1879* Run

Cause: Rumor Or Misinformation
Cause Details: Customers saw a 'Bank Closed' notice in the window, misread or misinterpreted it and assumed the bank was failing, triggering heavy withdrawals and a local panic.
Newspaper Excerpt: The bank run in Sacramento occurred about 1879, remember on the Sacramento bank, Fifth and streets Some men from the shops had seen notice in the win Bank Closed and didn't read farther noon. Thinking the bank was going under. they rushed to withdraw their savings. Result, local bank panic.
Source: newspapers

Newspaper Articles (1)

1. July 3, 1927 The Sacramento Union Sacramento, CA

Article from The Sacramento Union, July 3, 1927

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Article Text

Times Do Change In Bank Circles, Says Pioneer of Finance When the corner of Fifth and streets was way up town; when Sacramento boasted of about 20,000 inhabitants: when there were but five banks in IS these days Captain E. Hawk recalls with smile and sigh as he glances over his diary of 50 years ago, when he was young banker. Great financial mergers of the past few months; construction enormous banking centers, mighty consolidations of Sacramento's monied interests bring back to the veteran's mind the banking days of long ago. It was 50 years ago Tuesday, June 28, that young Elbridge L. Hawk became an employe of the Odd Fellows bank The building was on the corner of Fourth and streets. in the old St. George building. the quite an entirely different class of people Needed Job was of Captain Hawk's bright blue eyes twinkled told convinced the bank needed hand. And they took me on. was out of work only one day There were three employes in the bank Hawk teller: K. Snow, cashier. and W Huntoon, teller. with Samuel Poorman, president Banking evidently ran in the Huntoon for W. brother of Joe Huntoon. last president of the Peoples bank before its consolidation with the Bank of Italy There were. at that time. five banks in Sacramento And of that quintet, one still doing business The Capital Savings, Odd Fellows Savings and the Dine banks liquidated according to Captain Hawk: the old bank now the United Bank and Trust and the National Gold Bank of Mills company was but recently taken over by the California National now housed in palatial building at Seventh and streets about the captain continued. "the United Bank and Trust building was completed. and the only of that age in which bankOnly two bank of that time are still standthe corner Second and the other Fifth and "The bank run in Sacramento occurred about 1879, remember on the Sacramento bank, Fifth and streets Some men from the shops had seen notice in the win"Bank Closed and didn't read farther noon. Thinking the bank was going under. they rushed to withdraw their savings. Result, local bank panic. Clear Memory Captain Hawk scarcely needs his records to recall vividly the history of Sacramento for fifty years or more His mind retains clear and coherent record of all important events of that time Among the captains of California banking history he writes large names of W. E. Gerber of the California National bank, pioneer of the California State bank. and Ralph Woolworth. "They were two of the finest bankers California ever prohis The veteran the anticipating encampment at Grand Rapids, Mich. where his name to be presented for national commander for 1928 the third time I've run," he declared. "They say the third time's the charm. and nothing going to prevent me from taking the office this time. Ohio, his native state, has gone on record unanimously endorsing his candidacy California rallying strong. backing him for the honor.Each mail bears its flood of congratulatory letters and those endorsing Hawk for the office