11246. State Savings Bank (Butte, MT)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
March 12, 1903
Location
Butte, Montana (46.004, -112.535)

Metadata

Model
gpt-5-mini
Short Digest
44585ce5

Response Measures

Accommodated withdrawals, Capital injected

Description

Multiple contemporary papers report a short-lived run on the State Savings Bank at Butte on March 12, 1903, caused by a false rumor (canard) that John A. Creighton had withdrawn his support. Creighton and local wealthy men promptly deposited large sums and the disturbance ended; the bank remained open.

Events (1)

1. March 12, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
A canard that John A. Creighton, the Omaha millionaire and president of the bank, had withdrawn his support; reports then say he sent $500,000 to the bank.
Random Run
Yes
Random Run Snippet
Canard that Creighton withdrew support; he sent $500,000 to bank.
Measures
Prominent men (including Creighton) deposited large sums; local bankers and business men rushed in deposits to restore confidence; bank prepared to invoke 30-day notice law if run continued.
Newspaper Excerpt
RUN ON A BANK EXCITEMENT IN BUTTE OVER REPORT OF INSECURITY OF A BIG INSTITUTION BUTTE. March 12-A run was started on the State Savings bank this moring...the run is supposed to have been started by malicious rumors...and a panie exists among depositors.
Source
newspapers

Newspaper Articles (10)

Article from The Seattle Star, March 12, 1903

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Article Text

RUN ON A BANK EXCITEMENT IN BUTTE OVER REPORT OF INSECURITY OF A BIG INSTITUTION BUTTE. March 12-A run was started on the State Savings bank this moring. and a panie exists among depositors. The street is crowded with excited people. Pay. ments are being made on checks as fast as presented. although the bank officials say they will have to take refuge in the 30-day notice law if the run continues. The run is supposed to have been started by mallcious rumors having their origin in politica. The report is that the bank was such a heavy backer of Helns in his war on the Amalgamated copper company, that It is now heavily embarrassed.


Article from The Butte Inter Mountain, March 13, 1903

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Article Text

ALL TROUBLE IS OVER Run on State Savings Bank Is Very Quickly Ended. MANY OFFERS OFHELP Bankers in New York and Omaha Ready With Money. WIRE TO BUTTE MEN No Sign of Yesterday's Flurry Was in Sight Today. J. O. Hodgens, assistant cashier of the State Savings bank and now in charge of that institution, and Judge G. W. Stapleton, vice-president of the bank, made the following statement this morning: "Please publish in the Inter Mountain this evening our unqualified denial of the rumors that have been afloat that the Amalgamated Copper company or any of its interests had anything to do with starting the run on our bank. These stories are among those put in circulation by some designing or irresponsible persons, and no doubt had their effect in frightening depositors. So far from these stories being true, we have every reason to know that they are baseless fabrications. The officers and the institutions allied with the Amalgamated Copper company were the first to tender their services. The action of Mr. HennesSV of Mr. Ryan, of Mr. Wood, of Mr. Carroll and others is ample evidence that their desire was to protect and help rather than injure us. In this connection we want to testify our appreciation of the splendid manner in which the financial and commercial interests of Butte have stood by us. It was a remarkable exhibition of friendliness and one which we appreciate fully."


Article from The Kalispell Bee, March 13, 1903

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Article Text

Run is Made Upon the State Savings Bank at Butte Yesterday. THE INSTITUTION WAS IN PERIL All Day, But the Backers of the Concern Made Themselves Busy Rustling New Depositors and Finally Succeeded in Stemming the Tide. Butte, March 12.-On account of depositors withdrew their funds, rumors said to have been absolutely many others made new and large deunfounded. a run was started on the posits, and many business men, to State Savings bank in Butte yestershow their thorough confidence in day morning. and was continued unthe institution and its stability. til the bank closed for the day at 3 placed thousands and thousands of o'clock in the afternoon. After that dollars with the bank while the run hour it seemed to have about spent was in progress. When the bank itself, and the bank was reported by closed for the day. an official anits managers to be in quite as good nouncement was made that it would condition as it was in the morning open as usual at 10 o'clock this mornwhen the run started. While many ing, ready to meet all demands on it.


Article from The Times Dispatch, March 13, 1903

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Article Text

RUN ON BANK Wealthy Men Rushed to the Aid of the Institution. (By Associated Press.) BUTTE, MONT., March 12.-A run on the State Savings Bank to-day caused no little sensation in financial circles. The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is sublit to have sent a. half million dollars to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000, and at this the excitement subsided. The bank is one of the strongest in the State.


Article from Evening Journal, March 13, 1903

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Article Text

Run On Montana Bank. Butte, Mont., March 13.-A run on the State Savings Bank yesterday caused no little sensation in financial circles. The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is said to have sent $500,000 to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000, and at this the excitement subsided.


Article from The Saint Paul Globe, March 13, 1903

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Article Text

Short-Lived Bank Run. BUTTE, Mont.. March 12.-There was a run on the State Savings bank today, caused by a canard that John A. Creighton, the Omaha millionaire, who is pres-


Article from The Salt Lake Herald, March 13, 1903

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Article Text

HEAVY RUN ON BUTTE SAVINGS INSTITUTION Butte, Mont., March 12.-A run on the State Savings bank today caused no little sensation in financial circles. A number of prominent men have come to the aid of the institution and it is out of danger. The run was caused by a canard to the effect that John A. Creighton, the Omaha millionaire, who is president of the bank, had withdrawn his support. He is said to have sent $500,000 to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000, and at this the excitement subsided.


Article from The Denison Review, March 14, 1903

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Article Text

Haugh& Brummer BROADWAY CLOTHIERS. Ames Decides to Stand Trial. Manchester, N. H., March 13.Adelbert A. Ames, formerly mayor of Minneapolis and fugitive from justice, contrary to the advice of his physicians, and it is believed without the knowledge of his counsel, has decided to return to Minneapolis and stand trial. He will leave tomorrow. He will be accompanied by Mrs. Ames and the three children. His decision to return was voluntarily made, but it was not announced until his wife's relatives had come forward with sureties enough for his bail of $12,500 under the habeas corpus proceedings. Canard Causes Run on Butte Bank. Butte, Mont., March 13.-A run on the State Savings bank caused no little sensation in financial circles. The run was caused by a canard, to the effect that John A. Creighton, the Omaha millionaire, who is president of the bank, had withdrawn his support. He is said to have sent $500,000 to the bank. In addition, local men of wealth rushed in deposits of from $5.000 to $50.000, and the excitement subsided. The bank is one of the wealthiest in the state.


Article from The News & Observer, March 14, 1903

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Article Text

Run on a Bank at Butte. I (By the Associated Press.) Butte, Mon., March 12.-A run on the State Savings Bank today caused no little sensation in financial circles. The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is said to have sent a half million dollars to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000 and at this excitement subsided. The bank is one of the strongest in the State.


Article from The Wichita Daily Eagle, March 14, 1903

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Article Text

A CANARD RESPONSIBLE. Run on Butte Bank Does Not Injure It Much. Butte, Mont. March 12-A run on the State Savings bank today caused no litthe sensation in financial circles. The run was caused by 8 canard to the effect that John A Crighton. the Omaha millionaire, who is president of the bank, had had withdrawn his support. He is said to have sent half a million dollars to the bank. In addition. local men of wealth rushed in deposits of from $5,000 to $50,000 and at this excitement subsided. The bank is one of the wealthiest in the state.