"Three Days Later From California"

March 26, 1855

News article from a San Francisco correspondent to the New York Daily Tribune about a run on the local branch of the St. Louis banking house of Page, Bacon & Co. following news that the house had suspended payments due to the weak economic situation in California. The run on Page, Bacon & Co., in turn, precipitated runs at Adams & Co. and Wells, Fargo & Co. The local correspondent estimated that approximately three million dollars was withdrawn, mostly by small investors, from these banking houses before they closed and were put under receivership. “Three Days Later From California,” New York Daily Tribune, March 26, 1855, 6.