National Bank of the Republic (New York, NY)

Episode Information

Episode UID
100001013
Episode Type
Run Only
Bank Type
national
Bank ID
10000 national
Charter Number
1000
Start Date
May 15, 1884
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
607b11cfc5700c11

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Run described as limited; bank publicly reassured depositors.

Events (3)

1. April 11, 1865 Chartered
Source
historical_nic
2. May 15, 1884 Run
Cause
Local Banks
Cause Details
Rumors triggered by failure/suspension of the Metropolitan National and the firm Donnell, Lawson & Simpson led depositors to approach the bank.
Measures
Bank officers stayed at paying desk and publicly reassured customers of the bank's soundness.
Newspaper Excerpt
Immediately after the announcement of the Metropolitan's misfortune and that of the firm of Donnell, Lawson & Simpson, rumors became prevalent that the National Bank of the Republic must also close its doors... there was not, however, enough of belief in the stories to cause any great run on the concern, although a steady line of men and boys approached the paying teller's desk all day long.
Source
newspapers
3. September 3, 1901 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from New-York Tribune, May 15, 1884

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Article Text

THE BANK OF THE REPUBLIC STRONG. George E. Simpson, of the suspended banking firm of Donnell, Lawson & Slmpson. is one of the directors of the National Bank of the Republic. Customers of the suspended firm were aware that it had been doing business both with the Metropolitan National and with the National Bank of the Republic. Immediately after the announcement of the Metropolitan's misfortune and that of the firm of Donnell, Lawson & Simpson, -rumors became prevalent that the National Bank of the Republic must also close its doors. There was not, however, enough of belief in the stories to cause any great run on the concern, although a steady line of men and boys approached the paying teller's desk all day long. Vice-President Orson Adams, who was actively superintending the work at this desk, said to a TRIBUNE reporter in the afternoon: The bank is as sound as a dollar. There is no cause for any anxiety about us. Donnell, Lawson & Simpson had a loan here on account, but it is secured with collaterais worth three times the amount borrowed. After banking hours John J. Knox, the new president of the bank. said: There is absolutely no trouble here. We are strnog, and able to pay everything, to meet every demand.


Article from Fort Worth Daily Gazette, May 15, 1884

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Article Text

ST. JOSEPH, MO. ST. JOSEPH, May 14.-The State Savings bank of this city suspended and assigned to-day. C. B. Grover, the president, makes a statement to-night, which will be published to-morrow, to the effect that the bank was intimately connected with Donnell, Lawson & Simpson of New York, and has been for a long time a large depositor in the New York national banks which suspended to-day, thereby necessitating suspension. One suspension was made upon receipt of a telegram from the firm of Donnell, Lawson & Simpson, informing us of their suspension and directing us to close in order to protect our depositors. Mr. France further states: "We hope to resume in a few days. Our affairs here are in good condition, with no local embarrassment or losses. Our assets are intact and available. It is our belief that Donnell. Lawson & Simpson will resume very soon, and that we are fully protected in New York, and will pay all depositors and stockholders in full, and have our surplus intact."