12809. Trenton Trust & Safe Deposit Company (Trenton, NJ)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
trust
Start Date
October 26, 1905
Location
Trenton, New Jersey (40.217, -74.743)

Metadata

Model
gpt-5-mini
Short Digest
adb1c4d6d4616426

Response Measures

None

Description

Multiple contemporary articles (Oct 26-28, 1905) report a run triggered by a drunken man's remark/rumor. The bank kept open late to pay depositors, then 'suspended operations' for the day to allow clerks to balance ledgers; directors and local businessmen made large cash deposits and state examiners certified the bank solvent. The run subsided and the bank resumed normal operations within days.

Events (4)
1. October 26, 1905 Run
Cause
Rumor Or Misinformation
Cause Details
Idle remark by a drunken man in a saloon (wild or careless talk) that the bank was not in good condition; spread among small depositors and immigrant communities.
Measures
Bank kept open two hours after regular hours to pay depositors; other local banks offered assistance; directors and businessmen deposited large sums to shore up confidence.
Newspaper Excerpt
The circulation of a rumor ... was the cause of a run on the Trenton Trust and Safe Deposit Company
Source
newspapers
2. October 26, 1905 Suspension
Cause
Rumor Or Misinformation
Cause Details
Temporary suspension of operations at close of business to allow clerks to balance ledgers after heavy withdrawals driven by rumor; not a regulatory closure or insolvency action.
Newspaper Excerpt
the trust company kept open for two hours ... but was finally compelled to suspend operations to give the exhausted clerks an opportunity to balance the ledgers
Source
newspapers
3. October 28, 1905 Other
Newspaper Excerpt
Five examiners were placed in the bank by the state department ... Commissioner Watkins said ... the bank was absolutely solvent and could meet all its obligations dollar for dollar. It is believed that the trouble is at an end.
Source
newspapers
4. October 28, 1905 Reopening
Newspaper Excerpt
The run started ... had practically spent itself ... before the day was over many who had drawn out their money deposited again. ... it is believed the run has reached its height and that the institution will have no trouble in meeting the situation.
Source
newspapers

Newspaper Articles (11)
1. October 27, 1905 New-York Tribune New York, NY
Article from New-York Tribune, October 27, 1905

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Article Text

RUN ON TRENTON BANK. Small Depositors Scared by Rumor Institution Sound. [By Telegraph to The Tribune.] Trenton, Oct. 26.-The circulation of a rumor said to have been started by an irresponsible person over a hotel bar, was the cause of a run on the Trenton Trust and Safe Deposit Company, one of the largest financial institutions in the city to-day. The trust company kept open for two hours after the regular banking hours in an effort to satisfy the demands of the many anxious depositors that thronged the doors, but was finally compelled to suspend operations to give the exhausted clerks an opportunity to balance the ledgers in anticipation of to-morrow's business. The run on the bank did not begin to assume serious proportions until shortly before the closing hours when scores of small depositors from the southern section of the city came with many women who had been frightened by the exaggerated reports. When the bank finally closed its doors for the day there were several hundred persons waiting on the outside, and even to-night the crowd did not disperse. All the other banks in the city tendered their assistance, but the cash on hand in the trust company was sufficient to meet all demands to-day. Ex-State Controller William S. Hancock, one of the directors. said tonight that when the bank opened in the morning it would have a quarter of a million dollars on hand and would be prepared to go on making disbursements as long as the run might continue. Mr. Hancock personally guaranteed more than $25,000 in deposits belonging to small depositors who had become frightened, and called on him. Colonel Washington A. Roebling, vice-president of the John A. Roebling's Sons Company and of the trust company, said he would increase his personal deposit in the institution by $100,000 to-morrow morning. All the directors, who include some of the wealthiest men in the city, announced that they would also increase their deposits.

2. October 27, 1905 Perth Amboy Evening News Perth Amboy, NJ
Article from Perth Amboy Evening News, October 27, 1905

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Article Text

Run on Trenton Trust Company. TRENTON. N.J., Oct. 27.-A run on the Trenton Trust and Safe Deposit company here reached such an extent that there were hundreds of depositors gathered around the bank waiting to draw their deposits. President Hugh Hamill said that there was no valid reason for the run, which evidently had been started by some wild or careless talk among the bank's small depositors.

3. October 27, 1905 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, October 27, 1905

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Article Text

will Pay All Depositors. Trenton, N. J., Oct. 26.-A run on the Trenton Trust and Safe Deposit Company, which began here yesterday in a mild way, reached such an extent today that there were hundreds of depositors gathered around the bank awaiting to draw their money. The officers of the institution kept the bank open till 6 o'clock to accommodate those who wanted to withdraw their deposits. President Hugh Hammill said tonight that there was no valid reason for the run, which evidently had been started by some wild or careless talk among the bank's small depositors. The bank, Mr. Hammill said, has made ample provisions through other Trenton banks to meet any demand that may be made tomorrow.

4. October 27, 1905 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, October 27, 1905

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Article Text

RUN ON TRENTON BANK. Less Than $100,000, However, of $3,000,000 Deposits Withdrawn. Trenton, N. J., Oct. 27.-A run on the Trenton Trust and Safe Deposit company, which began here Wednesday in a mild way, reached such an extent yesterday that hundreds of depositors gathered around the bank waiting to draw their money. The institution was kept open until 6:00 p. m. President Hugh Mills said this afternoon that there was no valid reason for the run, which is not expected to assume dangerous proportions. The amount thus far drawn out is less than $100,000, out of a total of about $300,000.

5. October 27, 1905 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, October 27, 1905

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Article Text

RUN ON BANK. 1 Trenton Institution Is Paying as Fast as They Come. Trenton, N. J., October 26.-A run on the Trenton Trust and Safe Deposit company which began here yesterday in a mild way reached such an extent today that there were hundreds of depositors gathered around the bank awaiting to draw their money. The officers of the institution kept the bank open till 6 o'clock to accommodate those who wanted to withdraw their deposits. President Hugh Hamill said tonight that there was not valid reason. for the run which evidently had been started by some wild or careless talk among the bank's small depositors. The bank, Mr. Hamill said, has made provisions through other Trenton banks to meet any demands that may be made tomorrow.

6. October 28, 1905 Evening Star Washington, DC
Article from Evening Star, October 28, 1905

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Article Text

A run on the Trenton, N. J., Trust and Safe Deposit Company, which began Wednesday in a mild way, reached such an extent yesterday that there were hundreds of depositors withdrawing their money. The panic finely subsided.

7. October 28, 1905 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, October 28, 1905

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Article Text

LIQUOR CAUSES BANK RUN. Drunken Man's Idle Talk Creates Fl. nancial Stir in Trenton, N. J. Trenton, N. J., Oct, 27.-The idle remark of a drunken man in a saloon caused the run on the Trenton Trust and Safe Deposit Company, which began here yesterday in a mild way and reached such an extent today that there were hundreds of depost Its gathered around the bank awaiting to draw their money. The officers of the institution kept the bank open until 6 o'clock to accomodate those who wanted to withdraw their deposits. President Hugh Hamill said tonight that there was no valid reason for the run, which had been started by wild or careless talk. The bank, Mr. Hamill said, has made ample provisions thru other Trenton banks to meet demands that may be made tomorrow. Colonel Washington A. Roebling, vice president of the John As Roebling Sons Company and vice president of the Trenton Trust Company and himself a millionaire, said last night that he would deposit $100,000 in the institution tomorrow morning and more is necessary to meet any further runs. The perfect composure of the bustness people of the city over the matter warrants the expectation that the run will not assume dangerous proportions. The amount thus far drawn out by hundreds who took part in the run is less than $100,000 out of a total deposit of about $3,000,000.

8. October 28, 1905 The Providence News Providence, RI
Article from The Providence News, October 28, 1905

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Article Text

TRENTON TRUST CO. WAS SAVED Princeton, N.J., Oct. 28.-When the Trenton Trust and Safe Deposit company closed its doors at 3 o'clock this afternoon there was every indication that the run started on the bank Thursday afternoon had practically spent itself. This was probubly due to the prémpt action of the directors and substantial support given by the business men of Trenton, for within half an hour after the bank opened this morning there was a line of depositors covering almost an entire block awaiting an opportunity to withdraw their holdings. By 3 o'clock the line did not extend beyond the confines of the bank. which continued disbursing until all who appeared up to that hour had been paid. Colonel Washington A. Roebling, vice president of the institution. made good his promise to deposit $100,000 yesterday. Promptly at the stroke of 9 o'clock he drove up to the bank and turned over $100,000 to the receiving teller. This had only a temporary effect upon the depositors, some of whom had been waiting for the opening of the bank since 6 o'clock in the morning. Colonel Roebling was followed by Wilbur F. Sadler, Jr., bringing a deposit of $85,000. which caused more to drop out of the waiting line. Shortly before noon Colonel A. R. Kuser arrived from Newark and made a cash deposit of $50,000, and a half-hour later State Camptroller William S. Hancock came from New York with $50,000 in cash, which he deposited to his personal account. George R. Cook and Edmund D. Cook, rubber manufacturers, deposited $50,000. At about the close of banking hours this afternoon John L. Kuser came from Bordentown and deposited $60,000 in $1 bills in the bank. Many of the business houses in the city made substantial deposits and several who dealt with other banks expressed their confidence by opening accounts with the trust company. The general effect of these expressions of confidence on the part of business men was to allay the fears of the smaller depositors who were primarily responsible for the run, and before the day was over many who had drawn out their money deposited again. There was scarcely an hour in the day when the deposits did not largely exceed the disbursements which a corps of active clerks could make. David O. Watkins, state commissioner of banking and insurance, remained in his office at the State House day and night during the run. Five examiners were placed in the bank by the state department last night and continued their labors until past midnight. Commissioner Watkins said yesterday that the bank was absolutely solvent and could meet all its obligations dollar for dollar. There was, he said, no apparent reason for the run. It is believed that the trouble is at an end.

9. October 28, 1905 Perth Amboy Evening News Perth Amboy, NJ
Article from Perth Amboy Evening News, October 28, 1905

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Article Text

RUSH TO SAVE TRUST COMPANY / Business Men Deposit Almost $300,000 in Trenton Institution. TRENTON, Oct. 28:-Though the run on the Trenton Trust and Safe Deposit Company, which had assumed large proportions Thursday, continued yesterday, the withdrawals up to noon amounted to less than $40,000, though they represented between 200 and 300 accounts. Meantime deposits were made by Colonel Washington A. Roebling, Colonel A. R. Kuser and other directors and Trenton business men to a toal of almost $300,000. The directors of the institution issued a signed statement pledging themselves personally to advance a half million dollars to meet the run, which is confined to small depositors. Several Trenton business men have opened accounts with the institution for the first time. It is believed the run has reached its height and that the institution will have no trouble in meeting the situation.

10. October 28, 1905 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, October 28, 1905

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Article Text

Run on Bank Slackens. Trenton, N. J., Oct. 27.--The run on the Trenton Trust and Safe Deposit Company, which assumed large proportions yesterday, continued today, but the withdrawals at noon, while they aggregated between 200 and 300 accounts, amounted to less than $40,000. In the meantime deposits were made by Col. Washington A. Roebling, Col. A. R. Kuzer and other directors, and Trenton Business men to a total of nearly $300,000. The run is confined to small depositors.

11. November 10, 1905 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 10, 1905

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Article Text

DRUNKEN MAN STARTS RUN Italian and Hungarian Depositors Withdraw Funds From Bank TRENTON, N. J., Nov. 9.-There was a run today on the renton Trust and Safe Deposit company, which has a capital stock of $200,000 and $100,000 assets. The run was precipitated by a remark of a drunken man in a saloon, who said that the bank was not in good condition. The statement was made several days ago, but no effect was felt until this afternoon, when it was apparent the rumor had spread among the foreign colony. At 3 o'clock there was a long line of Italian and Hungarian women in line drawing out their accounts, while near them was a line of business men making their deposits for the day. The bank kept open two hours after the regular closing time to pay all depositors, and when the last one was paid Col. Washington A. Roebling, vice president of the bank, announced to a crowd that possibly he would deposit $100,000 in the bank tomorrow and would do so each day as long as the run lasted.