gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0bdadd83344e21f5
Response Measures
None
Receivership Details
Depositor recovery rate
86.6%
Date receivership started
1934-05-09
Date receivership terminated
1938-10-07
Share of assets assessed as good
31.5%
Share of assets assessed as doubtful
68.3%
Share of assets assessed as worthless
0.2%
Events (3)
1.January 3, 1923Chartered
Source
historical_nic
2.July 11, 1931Run
Cause
Rumor Or Misinformation
Cause Details
Depositors (the Froelichs) withdrew $1,000 and spread reports/mysterious-voice telephone prompting claims the bank was insolvent.
Newspaper Excerpt
The Froelichs were accused of starting a run on the Hewlett-Woodmere National Bank by drawing out their $1,000 and spreading the reports that the bank was insolvent.
Source
newspapers
3.May 9, 1934Receivership
Source
historical_nic
Newspaper Articles (10)
1.July 11, 1931Springfield Evening UnionSpringfield, MA
Click image to open full size in new tab
Article Text
More May Be Held for Causing Run
Indictments May Be Brought Against Others Than Froelich's.
July (AP) The Nassau County Grand Monroe Froelich Hewlett. for ing Woodmere bank, today considering handing indictments against other persons. The accused of startout their the that the The the district office them They did few their friends, Other persons questioned by Grand Jury.
2.July 11, 1931CommercialBangor, ME
Click image to open full size in new tab
Article Text
Two Indicted For Causing A Run On Bank
Mineola, N. Y., July 11-(AP)The Nassau County grand jury, after indicting Mr. and Mrs. Monroe Froelich, of Hewlett, Long Island, for causing a run on Woodmere bank, was today considering handing up indictments against other The Froelichs were accused of starting a run on the HewlettWoodmere National Bank by drawing out their $1,000 and spreading the reports that the bank was insolvent. The Froelichs told the district attorney's office that a mysterious voice telephoned them to take out their money. They did and told a few of their friends, they said. Other who withdrew accounts are to be questioned by the grand jury.
3.July 11, 1931Daily SentinelRome, NY
Click image to open full size in new tab
Article Text
Couple Indicted For Starting Run On Bank Mineola, July 11 Nassau County grand jury, after indicting Monroe Froelich, Hewlett, Long Island, for causing run Woodmere bank, was to day considering indictments against other persons. The Froelichs were accused of starting run the mere National Bank by out their and spreading re ports that the bank was insolvent.
4.July 11, 1931Finger Lakes TimesGeneva, NY
Click image to open full size in new tab
Article Text
Man Killed, Two Others Injured in Auto Crash
Mineola, July The Nassau county grand jury, ter indicting Mr. and Mrs. MonHewlett, Long Island, for causing Woodmere today sidering handing gainst other persons. The Froelichs were accused starting the HewlettWoodmere National Bank drawing out their and spreading the reports that the bank insolvent. The Froelichs told the district attorney's office that mysterious voice them take They did and told few of their they said Other persons who counts are to questioned
5.July 11, 1931The Times HeraldPort Huron, MI
Click image to open full size in new tab
Article Text
Two Arrested For Starting Run On A Long Island Bank (By The Associated Press) Mineola, N. Y., July Nassau county grand jury, after indicting Mr. and Mrs. Monroe Froelich, Hewlett, Long Island. for causing a run on Woodmere bank was today considering handing up indictments against other persons. The Froelichs were accused of starting a run on the HewlettWoodmere National bank by drawing out their $1,000 and spreading the reports that the bank was insolvent. The Froelichs told the district attorney's office that a mysterious voice telephoned them to take out their money. They did and told few of their friends, they said. Other persons who withdrew accounts are to be questioned by the grand jury.
6.July 11, 1931The Tampa TimesTampa, FL
Click image to open full size in new tab
Article Text
Depositors Held For Causing Run On N. Y. Bank
Mineola, N. Y., July 11.-The Nassau county grand jury, after indicting Mr. and Mrs. Monroe Froelich, of Hewlett, Long Island, for causing run on a Woodmere bank, today considering handindictments against other persons. The Froelichs were accused of starting HewlettWoodmere National bank by drawing out their $1,000 and spreading the reports that the insolvent. The told the district office that mysterious voice telephoned to take out their money. They did and told few of their friends, they said. Other persons who withdrew accounts to be questioned by the grand jury.
7.July 11, 1931Dayton Daily NewsDayton, OH
Click image to open full size in new tab
Article Text
INDICTMENTS IN BANK RUN PEND
New York Jury May Return Additional True Bills Against Persons Responsible.
MINEOLA, July The Nassau co. grand after indicting Mr. Monroe Froelich, of Hewlett, for causing run on Woodmere bank, was today handing up indictments against other The Froelichs were accused starting run the HewlettWoodmere National bank by drawout their $1000 and spreading the reports the bank was solvent. The Froelichs told the district attorney's office that mysterious voice telephoned them take out their money. They and told few of their friends, they said.
8.July 11, 1931The Sacramento BeeSacramento, CA
Click image to open full size in new tab
Article Text
Pair Are Indicted For Starting Run On Bank MINEOLA (N. Y.). July The Nassau County Grand Jury, after indicting Mr. and Mrs. Monroe Froelich, of Hewlett, Long Is land, for causing run on Woodmere bank, was to-day considering handing up indictments against other persons. The Froelichs were accused of run on the Hewlett starting Woodmere National Bank by drawing out their $1,000 and spreading reports that the bank was Insolvent. The Froelichs told the district attorney's office that mysterious voice telephoned them to take out their money They said they did and told a few of their friends. Other persons who withdrew counts are to be questioned by the grand jury.
COUPLE INDICTED
Charged With the Starting of a Run on Bank
Mineola, N. Y., July 11, (/P)-The Nassau county grand jury, after indicting Mr. and Mrs. Monroe Froelich of Hewlett, Long Island, for causing run on a Woodmere bank, was today considering handing up indictments against other persons. of The Froelichs were accused starting a run on the Hewlett-Woodmere National Bank by drawing out their $1,000 and preading the report that the bank was insolvent. The Froelichs told the district attorney's office that a mysterious voice telephoned them to take out their money. few of their did and told a They friends, they said. Other persons who withdrew accounts are to be questioned by the grand jury.
10.July 12, 1931The Portsmouth StarPortsmouth, VA
Click image to open full size in new tab
Article Text
Two Indicted For Starting "Run" On Bank
The Nassau County grand jury. atter indicting Mr. and Mrs. Monroe Freelich of Hewlett, Long Island, for causing run on Woodmere bank. was today considering heading up indictments against other persons. The Froelichs accused of storting run the Hewlett Wood mere National Bank by drawing out their $1,000 and spreading the reports that the bank was insolvent The Froelichs told the district attoroffice that a. mysterious voice telephoned them to take out their money They did and told few of their friends, they said.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.