Mutual Savings Bank - San Francisco, CA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: savings bank
Start Date: March 20, 1908
Location: San Francisco, California (37.780, -122.419)

Metadata

Model: gpt-5-mini
Short Digest: 52f01f94d076f790

Response Measures

None

Description

Article (The San Francisco Call, 1908-03-20) reports that Mutual Savings Bank had for several months been requiring notice of withdrawal (a partial suspension of free withdrawals) due to recent financial stringency and on Mar 20, 1908 the cashier confirmed the bank had abolished that rule. No run is described in the text; this is a suspension (restriction) followed by resumption of normal withdrawals.

Events (2)

1. March 20, 1908 Reopening

Newspaper Excerpt: the cashier of the Mutual savings bank ... confirmed the fact that his institution had determined upon this course [abolish the rule demanding notice of withdrawal].
Source: newspapers

2. * Suspension

Cause Details: Bank had been demanding notice of withdrawal for several months as a response to recent financial stringency; specific trigger not stated.
Newspaper Excerpt: the rule that has been in force for the past few months-that of demanding notice of withdrawal of funds on the part of depositors.
Source: newspapers

Newspaper Articles (1)

1. March 20, 1908 The San Francisco Call San Francisco, CA

Article from The San Francisco Call, March 20, 1908

Click image to open full size in new tab

Article Text

THE END OF FINANCIAL STRINGENCY AT HAND Prominent Savings Institution No Longer Demands Notice of Withdrawal For several days the rumor has been current that one of the largest savings banks of the city was about to abolish the rule that has been in force for the past few months-that of demanding notice of withdrawal of funds on the part of depositors. The cashier of the Mutual savings bank was seen and immediately confirmed the fact that his institution had determined upon this course and furthermore the bank was thereby placed in a position to consider applications for loans in small amounts for rebuilding, which would be placed at a rate not to exceed 6 per cent net. He also explained that a savings bank acted as trustee for the investment of depositors' funds, and the interest to depositors was governed by the earnings. In this connection he expressed the opinion that the prevailing high rates of today, as compared with those of two years ago, justified the expectation on the part of depositors of a substantial increase in their interest in the near future.