1244. Bi Metallic Bank (Cripple Creek, CO)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
May 2, 1902
Location
Cripple Creek, Colorado (38.747, -105.178)

Metadata

Model
gpt-5-mini
Short Digest
afc4d4e0

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Multiple May 2–3, 1902 newspaper dispatches report a run on the Bi‑Metallic (Bimetallic) Bank in Cripple Creek triggered by a rumor/report that the bank was about to go into liquidation. Bank officials paid out deposits (large sums of gold/currency were stacked at the counter) and the bank remained open; a local paper reports it has paid its depositors and is still open for business. No suspension or receivership is mentioned.

Events (1)

1. May 2, 1902 Run
Cause
Rumor Or Misinformation
Cause Details
Run triggered by a rumor/report that the bank was unsafe or was about to go into liquidation.
Measures
Officials prepared for withdrawals and paid depositors promptly; large sums of gold/currency were piled at the paying counter to meet demands.
Newspaper Excerpt
A run was started this morning on the Bimetallic bank... A rumor it was in a bad way started the run, and although nearly $300,000 in gold were stacked on the counter when the run began, the depositors insisted on having their money, which was paid out as fast as the books could be checked up.
Source
newspapers

Newspaper Articles (11)

Article from Albuquerque Daily Citizen, May 2, 1902

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Article Text

RUN ON A BANK. Three Hundred Thousand Dollars Were on the Counter. Cripple Creek, Colo., May 2.-A run was started this morning on the Bimetallic bank, one of the oldest banks in the city. A rumor it was in a bad way started the run, and although nearly $300,000 in gold were stacked on the counter when the run began, the depositors insisted on having their money, which was paid out as fast as the books could be checked up. The bank was established by David H. Moffatt, who afterwards sold out all but a small interest to J. F. Hadley, who is president.


Article from Santa Fe New Mexican, May 2, 1902

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Article Text

A RUN ON A BANK. Three Hundred Thousand Dollars in Gold Stacked Up In Sight of Depositors. Cripple Creek. Colo., May 2.-A run was started this morning on the Bimetallic Bank, the oldest bank in the A rumor that it was in a bad way city. started the run. and although nearly $300,000 in gold was stacked on the counter when the run began, depositors insisted on having their money, which was paid out as fast as the books could be checked up. The bank was established by David H. Moffat, who afterwards sold out all but a small interest. J. F. Hadley is the president.


Article from Omaha Daily Bee, May 3, 1902

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Article Text

RUN ON CRIPPLE CREEK BANK Depositors Agitated Over Report of Liquidation Hasten to Draw Out Their Money. CRIPPLE CREEK, May 2.-A run was started on the Bimetallic bank of Cripple Creek today and when the doors were closed for the day at 8 o'clock there were still many depositors in line. Over $50,000 was withdrawn between 10 a. m. and 1 p. m. The run was caused by a report that the bank was about to go into liquidation. The Bimetallic bank was established in 1892 and.is the oldest bank in the city. Some months ago it was purchased by its present owners from D. H. Moffat of Denver. The officers are: J. F. Hadley, president; Bruno Hobbs, vice president, and E. P. Arthur, cashier.


Article from Evening Star, May 3, 1902

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Article Text

Run on Cripple Creek Bank. A dispatch from Cripple Creek, Colo., yesterday, says: A run was started on the Bimetallic Bank of Cripple Creek today, and when the doors were closed for the day at 3 o'clock, there were still many depositors in line. More than $50,000 was withdrawn between 10 a.m. and 1 p.m. The run was caused by a report that the bank was about to go into liquidation. The BimetalE was established in 1892, and is the oldest bank in the city. Some months ago it was purchased by its present owners from D. H. Moffatt of Denver. The officers are J. F. Hadley, president; Bruno Hobbs, vice president, and E. P. Arthur, cashier.


Article from The Daily Sentinel, May 3, 1902

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Article Text

Run on Cripple Creek Bank. Cripple Creek, Colo., May 3.-A run was started on the Bi-Metallic Bank yesterday morning and continued all day. The run was started by a report a few days ago that the bank was unsafe and likely to go under. The bank officials heard of this rumor and were prepared for the expected run. $275,000 was piled up inside the railing ready to be paid out to anxious depositors. It is nearly all the emall depositors who are calling for their money.


Article from Waterbury Democrat, May 3, 1902

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Article Text

Run on Cripple Creek Bank. CRIPPLE CREEK, Colo., May 3.A run was started on the Bimetallic bank of Cripple Creek, and when the doors were closed for the day at 3 o'clock there were still many depositors in line. More than $50,000 was withdrawn between 10 a. m. and 1 p. m. The run was caused by a report that the bank was about to go into liquidation. The Bimetallic bank was established in 1892 and is the oldest bank in the city.


Article from The Salt Lake Herald, May 3, 1902

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Article Text

RUN ON BANK AT CRIPPLE. Sight of Big Sum Fails to Reassure Depositors. Cripple Creek, Colo., May 2-A run was started on the Bimetallic bank of Cripple Creek today, and when the doors were closed for the day at 3 o'clock there were still many waiting for their money, notwithstanding the fact the bank officials piled $250,000 in currency in front of the paying teller.


Article from Evening Times-Republican, May 3, 1902

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Article Text

Run on a Bank. Cripple Creek, Colo., May 3.-The big run on the Bimetallic bank of Cripple Creek, which started yesterday at 10 o'clock when the institution opened its doors for the day's business, was still on at 4 o'clock in the afternoon with a long line of depositors outside waiting to be admitted and withEvery demand draw their deposits.


Article from Durango Semi-Weekly Herald, May 5, 1902

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Article Text

FOOLISH BANK RUN CONTINUES AT CRIPPLE. CRIPPLE CREEK Colo., Mav 3.The run on the Bi-Metallic bank continued this morning, although In a much lesser degree. By noon the officials stated that the deposits exceeded the withdrawals.


Article from Twice-A-Week Plain Dealer, May 6, 1902

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Article Text

Run on a Bank. Cripple Creek, Col., May 5.-A run was started on the Bimetallic bank of Cripple Creek Friday, and when the doors were closed for the day at three o'clock there were still many depositors in line. Over $50,000 were withdrawn between ten a. m. and one p. m.


Article from Gilpin Observer, May 8, 1902

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Article Text

LOCAL ITEMS Teams are engaged in hauling the dump of the Buckley mine, on Gannell hill, to the New York mill in Black Hawk. Francis P. Carney, former lieutenant governor of Colorado, died Sunday even ing, , May 4, at 6:30 o'clock at his residence in Ouray. He had been in poor health for a long time. Potter Palmer, the well-known and popular Chicago business man died Sun day evening at 4 o'clock, at his residence on Lake Shore Drive, Chicago. He leaves a fortune of $25,000,000. Rocky Mountain Herald: Another Gilpin county boy is now being boomed for a state office. Larry Maroney is talked of by the Democrats for state treasurer. Here's success to you, "me boy." The scholars of the public schools enjoyed a day's vacation last riday. Andy Sanberg has donned bis mining clothes and is now at work on the Chicago Carr mine. The shaft buiding on the Shafter lode in Hillside gulch two miles northwest of Idaho Springs, was burned down Thurs day night. The fire occurred about midnight. The damage done is estimated at about $4,000, and is insured at $2,300. The building will be reconstructed. The Clear Creek Valley Teac4ers' Association has elected the following officers for the ensuing year: President, Prof. R.S. Leisey, of Georgetown, vice president, Prof. J. H. Matthews, of Black Hawk; secretary and treasurer, Miss Pedeston, of Idaho Springs. A select dancing party was given at the Teller house Saturday evening. The members of Co. F, N. G. C. gave a social dance last Saturday. A good attendance was had. The proposed celebration or the coming 4th of July depends upon the success met with by the committee to solicit funds to defray the expense of the same. The committee is as follows: Ed. L. Harris, E. A. Nicholls and W.J. Lamont. It is up to the business men now. The Bi-Metallic bank at Cripple Creek, upon which a run was made last week. has paid its depositors and is still open for business. A. Rapin is having a frame dwelling erected on his lot on the west side of Spring street. When finished it will be occupied by Mr. and Mrs. William Preville. Engine 51 pulled the Monday evening passenger train to this city from Forks Creek. It's whistle is a terror. Mr. Darestine, traveling salesman for the Peters paper company, was thrown out of his buggy while going down the Virginia canon on Tuesday. He was bruised up considerably but expects to be out again soon. Golden Globe: Judge Johnson, of Denver, will be here on May 20th to assist Judge De France to clear the docket. The arguments of the lawyers on the question of the legality of the grand jury that found indictments in the embracery cases has consumed a number of days before Judge DeFrance. Archbishop Corrigan, of New York, died last Monday night at 11:05 o'clock, The county commissioners convened in regular monthly session last Monday morning and transacted their regular monthly business.