Bank of San Bernardino - San Bernardino, CA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: July 15, 1893
Location: San Bernardino, California (34.108, -117.290)

Metadata

Model: gpt-5-mini
Short Digest: 7af75e34

Response Measures

None

Description

Article (Pawtucket Tribune, 1893-07-15) reports that San Bernardino bank was one of three banks authorized by Comptroller Eckels to resume business after having been obliged to suspend payments due to stringency in the money market. No run is mentioned; suspension was due to general money-market stringency. Exact suspension date not given; reopening authorization reported July 1893.

Events (2)

1. July 15, 1893 Reopening

Newspaper Excerpt: The other two banks seeking to reopen are those at San Bernardino and Santa Anna, Cal. ... Comptroller Eckels is much gratified by the change in the situation and the resumption of business by so many institutions. The comptroller ... does not propose to relax in any degree the stringency of the requirements which he makes before allowing a bank to resume.
Source: newspapers

2. * Suspension

Cause: Macro News
Cause Details: Obliged to suspend payments because of the general stringency in the money market (panic/liquidity shortage), not because of bad loans.
Newspaper Excerpt: All these banks were obliged to suspend payment because of the ... Stringency In the Money Market and not on account of bad loans
Source: newspapers

Newspaper Articles (1)

1. July 15, 1893 Pawtucket Tribune Pawtucket, RI

Article from Pawtucket Tribune, July 15, 1893

Click image to open full size in new tab

Article Text

D HEK A BRIGHTER OUTLOOK THAT CURES In the Financial Circles CARD of the Country: TA THREE BANKS TO RESUME. Comptroller Eckels Much Pleased by the Situation. sish The returning feeling of confidence in the business com munity was strikingly reflected in events rday Office of the companies Marshfield, Mass. of the nurrence TAHW DANIA SARS Co. years was taken with Three banks were authorized to resume a Jame back, at times was bad that bed I WAS days business after having complied with the some time. Unip used by Compty nounced no received perma. of the Muscles, ler Eckels, more banks are appli nentradifirm theyu in pain all the time, thought I would try cants for huch PAS " restime. and a divi dend of 40 per cent was authorized to be DANA'S paid by the National Bank 1of Deposit of SARSAPARILLA the city of New York did 'me no good I could get my money The Three Banks The first bottle helped me. have taken bottles and the pain is all gone. authorized to resuine business Were the feel like new person. Truly DANA'S The Kind That Cures. First N tional Cal the O.F. SAMPSON. Resp'y yours, Secon Natigna and, the Marshfield, Mass. GENTLEMEN believe Mr. Sampson's state. National bank of Provo, UM mentistrue. Respectfully yours, LUTHER HATCH, Merchant. Marshfield, Mass. All of their in shape and Dana Sarsapariila Co., Belfast, Maine. with money enough to meet all possible demands There has been an extension of claims for 90 days in some cases, but the Los Ballroade, etc. Angeles bank starts off with $200,000 in new capital, and the bank at Provo has money enough in its vaults to meet all its Old Colony Railroad liabilities. TIME TABLE. The comptrol has insisted that ample funds shall be put up by the directors and Trains leave Pawtncket for Boston at 5 that the money shall belong to the bank, 6:12, 7:12, 8:09, 9:09, 10:09, 11 a. m.; 12:58,2 and not be borre red to give it a fictitious 8:28 4:85, 5:49, 6:32, 7:29 and 10:15 m. appearance of str ngth. Sundays-5:55, 8:25, 10:40 a. m. 1:40. 6 :30 p.m. A delegation from the American NaReturning, leave Boston for Pawtucket tional bank of Omaha, had a talk with 7:00, :00, 8:25, 9:00 :00 and 11:00 a. m.; 12 Mr. Eckels and seemed willing to comm.; 1:00, 8:00, 4:00, 5:00. 5-30, 6:30, 8:0 11 :00 and 12:00 D. m. ply with the same sort of conditions Sundays- 9:00 a. m. 1;00, 4:00, 7:15 for a reopening that he has imposed in m. 12:00 night. the other cases. Condensed Railroad Time Table The other two banks seeking to reopen are those at San Bernardino and Santa N. Y., N. H. & H. R. WOR. DIV. Anna, Cal. (Corrected to June 16, 1893. All these banks were obliged to suspend PAWTUCKET FOR PROVIDENCE. payment because of the A. M. A. M. P. M. P. A. M. P, M. Stringency In the Money Market 11 33* 5 04* 8 46t 7 50 2 121* 12 10t and not on account of bad loans and eva9 001 7 59 2 47 P. M. 5 101 12 561 sions of law, as in the case of the weaker 9 12 12 12* 8 09* 8 35 6 09* 5 18: institutions which have gone to the wall. 9 08 9 15t 8 19t 6 35* 12 15t 5 88* 9 52* 38* 3 33 9 49 5 45 6 51 Comptroller Eckels is much gratified by 00* 3 45 6 08* 9 56+ 17 20* 10 10 the change in the situation and the re3 58* 6 36* 1 03+ 10 33 57 341 10 13°1 sumption of business by so many institu10 19t 4 02 11 03 1 19 6 47* #17 56* 4 23* 10 82* 8 02 11 39 1 46 6 54 tions, but he does not propose to relax in 4 38* 10 52 57* 8 14* 17 14* any degree the stringency of the require7 25 2 02 4 46 8 28* 10 551 ments which he makes before allowing a bank to resume. PROVIDENCE FOR PAWTUCKET. The decision to pay a dividend of 40 per P. M. P. M P. M. P. M. A. M. A. M. cent to the creditors of the National Bank 5 30* 8 45* 8 00 12 101 201 5 22+ of Deposit of New York was due to a con8 30 5 40+ 12 30* 9 00 3 251 5 45 sultation between the receiver. Mr. David 5 45* 9 00 3 30* 45 9 10 6 00 00* 6 00* 9 30* 4 00* 9 53 6 30* McClure, and the comptroller. The pay6 10* 10 05 31* 4 051 10 001 6 45 ment of so large a dividend within 80 short 4 201 10 15* 10 30 6 22t 7 00+ 45 a time of the failure is unusual in the set6 30* 11 00 4 25 50 10 50* 7 15* tlement of national bank cases And was 50* 4 80* 11 10 11* 7 30 11 29 00* 11 25 2 30* 11 1 30 7 15* 8 00+ the occasion of cordial congratulations by 5 05 20t 401 8 081* 111 40* the comptroller to Mr. McClure. 5 15* 3 30* 7 40* 12 00 M 8 15 It is expected that proof of claims will SUNDAY TRAINS. be filed so as to allow the dividends to be Pawtucket for Providence 12 10t 12 561.5 34 paid about Aug. 1, and that $240,000 'will 8 49: 10 02*. 10 12t. 11 26t. 11 34*, a. m. be paid on claims amounting to about 2 18t. 2 49*. 4 35, 5 14*, 5 18t, 6 34". 6 53*. $600,000. 8 501. 8 54*, 9 18t p. m.