The morning call., 1891-07-28
A RUN ON A BANK.
Nine Hundred DepOsitOrs With
draw Their Money.
Sensational journalism Precipitates an In
usual Demand on the Peoples Home
Savings Bank

of recent date.
By 9 o'clock yesterday morning about 200
people assembled in front of the bank.
awaiting theI opening of its doors to with
draw the amounts of their deposits. The
off ials of the bank. anticipating run, had
made arrangements in advance to prevent
any disturbance or confusion.
Numbered tickets were issued to deposit
orS on application at the Market-street en-
trance, ticket-holders being admitted at the
rear door on Stevenson street in patches of
twenty-five as their numbers were an
nouuced. but later in the day the ticket
scheme was abandoned as unnecessary.
P Bowman Of Minna street was the first
depositor to receive gold coin in return for
his pass-book. He breathed freely when he
secured his $50.
GOLD AND SILVER.
At the hour of opening an express wagon
containing a driver and messenger armed
with revolver and a rifle, guarding load
of sacks containing 100000 in gold and sill
Yer coin, drove up from the Pacific Bank,
and the money was placed in the vaults of
the Peoples Home. The cash balance in
the latter institution at the close of business
on Saturday was $4,000, and two tellers
paid depositors without cessation until
q
wicket.
The rules of the savings bank allow the
officials the privilege of demanding thirty
days notice from each bookdepositor, but
this was not required. All deposits OF 500
or less were paid on demand, and where
customers had larger amounts to their
credit, 500 WAS paid on account and the
deposition told to return in ten days, when he
would receive the balance. In accordance
with another rule So of each deposit was
retained for ten days when this, too, will
be returned.
DUE DEPOSIToRs.
The total amount due depositors yeSter-
day mornlng was 81, 500. 600, of which sos, 600
was IN commercial accounts payable by
check or demand About SIS, 900 was with
drawn yesterday from these accounts. In
the case OF term deposits tile customary
sixty days notice of withdrawal was eX-
acted.
Tie bank ordinarily closes lis daily bust
ness at 3 o'clock, but yesterday the officers
decided to remain open until $50 III the
evening, aud at tho arrival of the latter
N0ur the time was further extended TO 9
o'clock. During the twelve hours of bust
ness g12 depositors were paid in whole or
in pant, the total amount Withdrawn being
about Sg5, coo, and of this sum $4,000 rep
- resented saYings-b0, accounts.
The officials Of the bank were much en-
couTaged by the opening Of slXty-three new
accounts, representing 5000 in deposits,
during the day, and further sum of S2264,
Tor which certificates OF deposit were given
TO SIX persons. In the evening a number OF
regular customers increased their deposits,
30 that the bank will commence business
this morning with $4,000 in its safe.
MONEY FOR ALL.
Dr., r H. Mcdonald, President of the
Pacific Bank, and one OF the largest stock
holders ID the Peoples Home stated yes
teTday afternoon that he had money to pay
all depOsitors. The savings bank has
guaranteed capital of Sl,CO0000, only 33h
per cent Of which has been paid up the bal
ance being subject to call. There is a sur
plus of 81, 600 left after paying the last
dividend, and contingent fund of $1,000.
Dr. Mcdonald stated that he had $500, 600
in cash at the Pacific Bank which could be
placed at the disposal Of the Peoples Home
IN case it were needed. He was OF the
opinion, however, that the excitement was
practically over, ana that although there
might be "a steady withdrawal of deposits
during the next few days, there would be
nothing more approaching the dignity OF a
run upon the savings bank. He thought
When people found they could obtain their
money, their faith in the stability Of the
bank would be restored, and that even
tually its position would be improved in
popular estimation. When people find
that We can stand run" he concluded,
they will see that we are safe and sound"
FINANCIAL ASSISTANCE.
r. II. Mcdonald Jr., Nice-President of the
Pacific Bank, and u Director in the Peoples
Home. was also sanguine regarding the
probably brief duration of the run. He
stated that q number of other banks had
rendered the Pacific financial assistance,
but he had declined every offer but one
stating that the Pacific had more than
enough for all its requirements. The Sather
Banking Company, California Bank, Lon
don, Paris and American of this city, Los
Angeles National, Chemical National and
National Bank of Commerce of New York,
National Bank of Illinois, Union Bank of
London, England, and other financial insti-
tutOns, had assured him Of their readiness
u place funds at his disposal, il required.
There was nc run at the Pacific yesterday,
the deposits being quadruple the amount of
sums withdrawn.
Many of the people who drew money from
the Peoples Home yesterday opened ac-
counts with other banking institutions, the
Hibernia and German savings and loan So
cietieS profting largely by the run on the
first mentioned bank.
Several officials in other banks, when
interviewed on the matter, expressed their
entire confidence in the solyeucy of the
PEOPLES Home, stating that all depOsitors
would undoubtedly be paid.
FULL OF CONFIDENCE.
The stockholders and directors of the
Peoples Home expressed no uneasiness as
to the run, being confident that it would be
short-lived, and expressing their abb lily to
discharge all Indebtedness Among the
millionaire capitalists who are backing up
the institution are DR.. r. II. Mcdonald, his
brother, Captain James Mcdonald, Daniel
Meyer, hiram Mayberry and others, all of
whom have expressed their willingness to
place funds at the disposal of the bank, if
necessary.
Daniel Meyer offered to cash the accounts
of all depositors, less 2h per cent, 10 the
bank office yesterday. One or two accepted
the offer, but the majority concluded to
leave their money in the bank.
1t was surprising to note the large num-
Der OF people In the bank yesterday who are
about To start for the East or Europe, and
who therefore required the whole amounts
of their deposit These excuses were not
accepted, and the contemplated trips Will
need TO be deferred ten days, or until the
bank decides not to require notice of with
drawa.
a number Of people when they found
that gold was forthcoming for their ac-
counts decided to leave their deposits un-
touched, and one chubby newsb0y, whose
capital amounted to SIS, returned the amount
given him by the paying teller to the re-
ceiving teller. and followed this up with an
investment of IS cents in fve-cent savings
bank stamps.
OFFICIAL REPORT.
Bank Commissioners Gerberding and
Knight commenced an examination of the
condition of the PEOPLES Home yesterday
morning, and at O'clock issued the follow
ing statement Of its affairs before commence
ing business yesterday morning:
RESOURCES.
Invested in stocks, bonds and war.
rants S59ss75 SO
Loans on real estate ............... Ssl ara q8
Loans aad discounts ACKNOWLEDGEMENTS. 27S,6lG 95
Iash balances: OBSERVATION-DISCLOSURES. 54.926 II
Due from banks and bankers 337 an az
Furniture, fixtures, etc .....,.,..... lI.T53 an
Expenses taxes. etc.,. 2,077 IL
SAFE Deposit. ...-----......-.........- %, 81 IS
Total resources. 1878 80
LIABILITIES.
Cash paid up; Observation-Disclosures. 1898. 1888 80
reserve fund-...-.--. $4,000 90
que depOsItors ..................... 1,S06.61l 65
interest oliected...................... S.637 80
rents, exchange etc................... 81 04
dividends nnpaid-..........--......... $50 90
front and loss ......--.......,........ 1873 10
Saie deposit and rent....-............. l67 90
lakes and license. ............,........ 5.436 10