First National Bank (Fairview, NJ)

View Charter #12465 on SPMC View balance sheet

Episode Information

Episode UID
1246501585
Episode Type
Run Only
Bank Type
national
Bank ID
124650 national
Charter Number
12465
Start Date
January 8, 1932
Location
Fairview, New Jersey (40.821, -74.003)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8530b9e82259f387

Response Measures

Public signal of financial health

Other: Bank directors and local authorities traced the source of false rumors and two individuals were arrested on complaint of the bank president (legal action to stop rumors). Bank officials publicly reassured depositors that no further trouble was anticipated.

Description

Two Fairview men were arrested for circulating false rumors that caused the run.

Events (3)
1. November 22, 1923 Chartered
Source
historical_nic
2. January 8, 1932 Run
Cause
Rumor Or Misinformation
Cause Details
False rumors circulated by two Fairview men about the bank's condition, leading depositors to withdraw funds.
Newspaper Excerpt
they were circulating false rumors about the bank's condition As result of the rumors, there was run on the bank
Source
newspapers
3. September 25, 1934 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)
1. January 8, 1932 The Daily News Passaic, NJ
Article from The Daily News, January 8, 1932

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Article Text

About A Bank Cause Arrests Two Fairview Men Held In Jail Pending $2,500 BailCauses A Slight Run On Bergen Institution Robert Hammond, of 215 Fourth Street, Fairview, former special policeman, and Fred Hiza, of 310 Anderson Avenue, Fairview, were arrested this morning on complaint of Fred Geiger. president the First National Bank of Fairview. who said they were circulating false rumors about the bank's condition As result of the rumors, there was "run" on the bank and the directors to trace the false reports. Hisa dented he started the rumos, saying Hammond came to his house told him about the bank's financial condition likewise, denied he started it. His wife and motherin-law drew all their money from the institution Wednesday. Officials at the bank today stated tion. They did not anticipate any they said. Hiza and are in Bergen County Jail awaiting posting $2,500 ball each.

2. January 8, 1932 The Daily News Passaic, NJ
Article from The Daily News, January 8, 1932

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Article Text

Mrs. William About A Bank Hoehl Honored Cause Arrests The Rosary League of the Church of the Assumption tendered Two Fairview Men Held In luncheon at the church hall, yesJail Pending $2,500 Bailterday in honor of the retiring president, Mrs. William Hoehl, who Causes A Slight Run On has had the honor of being presiBergen Institution dent of the league for the past ten years. Mrs. Hoehl was presented with a beautiful gold rosary from Street, Fairview, former special the members, the presentation be- policeman, and Fred Hiza. of 810 Anderson Avenue, Fairview, were ing made the Rev. Father Edarrested this morning win, Mrs. Hoehl responded with of Fred Geiger. president of the most apeech of acceptance. First National Bank Fairview, Father Edgar Barret was also who said they were circulating false present as well as Father Henry, rumors about the bank's condition both of whom made short ad- result of the rumors. there was on the bank and dreases. There were about sixty to trace members and guests present, all of false reports. whom had most delightful time. Hisa denied he started the rumor, The luncheon was followed by Hammond came his short business meeting at which told him about the time plans were discussed for the financial denied coming afternoon card party of the started It., His wife and mother. league which will be held at the drew all their money church hall on Thursday, January the institution Wednesday. 21. The next meeting Officials at the bank today stated league will be held Thursday, February Two new members were tion. They did not anticipate any they said enrolled. Mrs. Gertrude Devine and and are in BerMrs. Helen Herbert. County Jail awaiting posting