Accommodated withdrawals, Public signal of financial health
Description
Multiple contemporaneous newspapers (May 16–21, 1904) report a short run on the First National Bank of Raton in which depositors demanded funds but were reassured when the cashier displayed $50,000 in the vault. Cause is described as unknown reports/rumors; the run ceased and the bank was not affected.
Events (3)
1.April 26, 1892Chartered
Source
historical_nic
2.May 11, 1904Run
Cause
Rumor Or Misinformation
Cause Details
Unknown reports or rumors started the withdrawals; newspapers note it is yet unknown how the run started or who gave out reports.
Measures
Cashier displayed $50,000 in cash in the vault to satisfy depositors; run soon ceased.
Newspaper Excerpt
Last Wednesday morning a run was started on the First National Bank of Raton. Depositors came demanding their money, but Cashier Blackwell soon satisfied them by showing them $50,000 in the vault, and the run soon ceased.
Source
newspapers
3.April 30, 1926Voluntary Liquidation
Source
historical_nic
Newspaper Articles (3)
1.May 16, 1904Santa Fe New MexicanSanta Fe., Santa Fe, NM
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Article Text
THREATENED RUN ON RATON BANK Depositors Demanded Their Money But Were Satisfied When the Cashier Showed $50,000 in Vault. Last Wednesday morning a run was started on the First National Bank of Raton. Depositors came demanding their money, but Cashier Blackwell soon satisfied them by showing them $50,000 in cash in the vault, and the run soon ceased. It is yet unknown how the run started or who gave out reports that would start such an action. Mr. Blackwell would like very much to secure evidence that would lead to the cause of the temporary run. The First National Bank of Raton is considered one of the strongest financial institutions in New Mexico. The run on Wednesday will not affect the bank in the least.
2.May 17, 1904Las Vegas Daily OpticLas Vegas, NM
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Article Text
Run on Raton Bank. Last Wednesday, morning a run was started on the First National bank of Raton. Depositors came demanding their money, but Cashier Blackwell soon satisfied them by showing them $50,000 in cash in the vault, and the run soon ceased. It is yet unknown how the run started or who gave out reports that would start such an ection. Mr. Blackwell would like very much to secure evidence that would lead to the cause of the temporary run. The First National bank of Raton is considered one of the strongest financial institutions in New Mexico. The run on Wednesday will not affect the bank in the least.
THREATENED RUN ON RATON BANK Last Wednesday morning a run was started on the First National bank of Raton. Depositors came demanding their money, but Cashier Blackwell soon satisfied them by showing them $50,000 in cash in the vault, and the run soon ceased. It Is yet unknown how the run started or who gave out reports that would start such an aetion. Mr. Blackwell would Mke very much to secure evidence that would lead to the cause of the temporary run. The First National bank of Raton is considered one of the strongest financial institutions in New Mexico. The run on Wednesday will not affect the bank in the least.
