Multiple contemporary papers report a run on the State Bank in New Brunswick on Nov 15, 1906. Articles describe citizens and officials reassuring depositors; no suspension or closure is mentioned.
Events (1)
1.November 15, 1906Run
Cause
Rumor Or Misinformation
Cause Details
Depositors were nervous; prominent citizens and bank vice president publicly reassured them there was no reason for distrust (no specific bank failure or scandal cited).
Measures
Prominent citizens and Vice President Benjamin F. Howell publicly reassured depositors; warning that withdrawing would forfeit six months' interest; many made deposits to show confidence.
Newspaper Excerpt
During a run on the State bank here several prominent citizens assured suspicious depositors that the bank was entirely sound
Officials Say Bank Is Sound. NEW BRUNSWICK, N. J., Nov. 15. -During a run on the State bank here several prominent citizens assured suspicious depositors that the bank was entirely sound and warned them that those who insisted on withdrawing their money would lose six months' in. terest, payable Jan. 1. Many citizens then forced their way to the teller's window and made large deposits to show their faith in the bank. Congressman Benjamin F. Howell, vice president of the bank, said there was absolutely no reason for distrust in it.
Officials Say Bank Is Sound. NEW BRUNSWICK, N. J., Nov. 15. -During a run on the State bank here several prominent citizens assured suspicious depositors that the bank was entirely sound and warned them that those who insisted on withdrawing their money would lose six months' interest, payable Jan. 1. Many citizens then forced their way to the teller's window and made large deposits to show their faith in the bank. Congressman Benjamin F. Howell, vice president of the bank. said there was absolutely no reason for distrust in it.
May Bank 10 Bound. NEW BRUNSWICK, N. J., Nov. 18. -During a run on the State bank here several prominent citizens assured sue picious depositors that the bank entirely sound and warned them that those who insisted on withdrawing their money would lose six months' in terest, payable Jan. 1. Many citizens then forced their way to the teller's window and made large deposits to show their faith in the bank. Cosgressman Benjamin F. Howell, vies president of the bank, said there was absolutely no reason for distrust in It
