Union Trust Company (Cincinnati, OH)

Episode Information

Episode UID
13004071263
Episode Type
Run Only
Bank Type
state
Bank ID
1300407 routing
Routing Number
13-0040
Start Date
March 25, 1905
Location
Cincinnati, Ohio (39.103, -84.515)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8d00944b3fb88437

Response Measures

None

Events (1)
1. March 25, 1905 Run
Cause
Rumor Or Misinformation
Cause Details
Maliciously circulated postal cards and telegrams urging depositors to withdraw funds, alleged conspiracy; officials state reports unfounded and bank solvent.
Random Run
Yes
Random Run Snippet
postal cards advised withdrawals; reports declared unfounded/no foundation
Measures
All demands promptly met; offers of external cash assistance declined; police maintained order
Newspaper Excerpt
postal cards advising depositors to withdraw their money; bank crowded with several hundred excited depositors
Source
newspapers

Newspaper Articles (10)
1. March 25, 1905 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, March 25, 1905

Click image to open full size in new tab

Article Text

RUN ON BANK RESULT OF CONSPIRACY. Cincinnati, March 25.-The result of a conspiracy is declared by the officials of the Union Savings Bank and Trust Company of this city to be the explanation for the run on the Savings department of that institution, which, after continuing quietly for two weeks, was today the means of crowding the bank with several hundred excited depositors who failed to reach the paying teller's window. One woman was knocked down and trampled upon but it is not believed that her injuries are serious. The bank has $2,500,000 in cash on hand and nearly $8,700,000 in securities that can immediately be converted into cash, besides other assets to care for its $18,700,000 deposits. It is charged that postal cards were sent to depositors of the bank ad. vising them to withdraw their money. Bank officials say they have several of these cards and will endeavor to dis. cover another of them and begin criminal action. As an indication of the view of local financiers, an offer of $600 for stock in the bank was made on 'change today, but no stock could be had at that price, although it is a high record.

2. March 25, 1905 The Fargo Forum and Daily Republican Fargo, ND
Article from The Fargo Forum and Daily Republican, March 25, 1905

Click image to open full size in new tab

Article Text

CINCINNATI BANK SCARE RUN STARTED ON A SAVINGS BANK Some One Circulated Postal Cards Advising the Depositors to Get Their Money Out-No Foundation for the Fright. Cincinnati, March 25.-A run on the Union Savings Bank & Trust Co4 alleged to have been caused by a conspiracy has continued two days. Today the bank was crowded with excited depositors. One woman was badly injured. It is charged postal cards advising the depositors to withdraw deposits were sent out and efforts are being made to discover the guilty person, The bank is perfectly solvent.

3. March 25, 1905 The Daily Sentinel Grand Junction, CO
Article from The Daily Sentinel, March 25, 1905

Click image to open full size in new tab

Article Text

Cinginnati, O., Mar. 25. - (Speétal.) There was a big run today on the Union Savings Bank & Trust Company, The institution was one of the largest in the city and had $2,500,000 cash on hand and $18,000,000 deposits. The officials claim that there was a conspluacy to ruin the bank, and that postals had been sent through the malls to depositors urging them to withdraw their deposits from the bank. The run has been checked.

4. March 25, 1905 The Evening Statesman Walla Walla, WA
Article from The Evening Statesman, March 25, 1905

Click image to open full size in new tab

Article Text

RUN ON CINCINNATI BANK. Union Savings Bank Meets All Demands Promptly. CINCINNATI, March 25.-The run which started yesterday on the Union Savings Bank and Trust Company, one of the strongest financial concerns in this city, continued today. The bank was crowded and police were required to maintain order. All demands were promptly met. The bank has received many offers of assistance. The officers of the bank assert the run was started by malicious rumors, deliberately started by means of postal cards. They will request the postal authorities to investigate.

5. March 25, 1905 East Oregonian : E.O Pendleton, OR
Article from East Oregonian : E.O, March 25, 1905

Click image to open full size in new tab

Article Text

MALICIOUSLY STARTED A RUN POSTAL CARD CAMPAIGN AGAINST SAVINGS BANK. One of the Strongest Financial (Coneerns in Cincinnati Is Undergoing a Great Strain, But Promises to Meet All Claims, and Also to Institute Investigation Through the Medium of the Postal Department -Offers of Assistance. Cincinnati, March 25.-The run which started yesterday on the Union Savings Bank & Trust company, one of the strongest financial concerns in this city, continued today. The bank is crowded and the police maintain order. All demands are promptly met. The bank has received many offers of assistance. Officers of the bank assert the run was started by malicious rumors deliberately started by means of postal cards, and will request the postal amthorities to investigate.

6. March 25, 1905 The Minneapolis Journal Minneapolis, MN
Article from The Minneapolis Journal, March 25, 1905

Click image to open full size in new tab

Article Text

BANK RUN STARTED BY MALICE THRU MAILS New York Sun Special Service. Cincinnati, March 25.-A run was started yesterday on the savings department of the Union Savings bank and Trust company, which is said to be the largest institution of the kind in Ohio. All day there was a stream of small depositors withdrawing their money as fast as the tellers could handle it. Officers of the bank declare it perfectly solid and that every depositor requesting his money will secure it. President J. G. Schmidlapp said the stories that caused the run were started by malicious persons. Just after closing time the officials obtained information that postal cards and telegrams had been sent out of the city to depositors who were absent, advising them to withdraw their funds. These cards will be traced, if possible. The officials believe that the stories about the bank are the result of a conspiracy. They will attempt to prove this.

7. March 25, 1905 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, March 25, 1905

Click image to open full size in new tab

Article Text

CHARGE CONSPIRACY. Bank Officials Explain a Run on Savings Institution. Cincinnati, March 25.-The result of a conspiracy is declared by officials of the Union Savings Bank and Trust company of this city to be the explanation for a run on the savings department of that institution which, after having continued quietly for about two weeks, was today the means of crowding the bank with several hundred excited depositors who failed to reach the paying teller's window. One woman was knocked down and trampled on in the rush, but it is not believed that her injuries will prove dangerous. The bank has $2,500,000 in cash on hand and nearly $8,700,000 in securities that can immediately be converted into cash, besides other assets to care for its $18,700,000 deposits, and the officers express the utmost confidence in the outcome. It is charged that postal cards have been sent to depositors of the bank advising the withdrawal of deposits and that the telephone had been used as a means of giving the same advice. The bank officials say that they have secured some of these postal cards and will endeavor to discover the author of them, and when found bring criminal action. Offers of over $2,000,000 in cash have been made by Chicago and New York banks and other local institutions have promised assistance, but all these proffers have been declined with thanks. As an indication of the view of local financiers, an offer of $600 for the stock of the Union Savings and Trust company was made on 'change today, but no stock could be had for that price, although it was the high record of the stock.

8. March 26, 1905 Bryan Morning Eagle Bryan, TX
Article from Bryan Morning Eagle, March 26, 1905

Click image to open full size in new tab

Article Text

CONSPIRACY CHARGED. To This Cause Is Attributed Run on a Cincinnati Institution. Cincinnati, March 25.- Result of a conspiracy is declared by officials of the Union Savings Bank and Trust company of this city to be the explanation for the run on the savings department of that institution, which. after having continued quietly for about two weeks. was Saturday the means of crowding the bank with sev. eral hundred excited depositors, who fought to reach the paying teller's window. One woman was knocked down and trampled on in the rush, but it is not believed that her injuries are dangerous. The bank has $500,000 in cash on hand. and nearly $800.000 in securities that can be immediately converted into cash. besides other assets to care for its depositors, and the officers express the utmost confidence in the outcome. It is charged that postal cards have been sent depositors of the bank advising withdrawal of deposits. and that the telephone has been used as a means of giving the same advice. Bank officials say they have secured some of these postal cards and will endeavor to discover the authors of them. When found criminal action will be taken. Offers of over $2,000,000 in cash have been made by Chicago and New York banks and local institutions have promised assistance, but all these proffers have been declined with thanks.

9. March 28, 1905 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, March 28, 1905

Click image to open full size in new tab

Article Text

CONSPIRACY is ALLEGED, I Run in Progress on Union Savings Bank of Cincinnati. Cincinnati, March 27.-A run now in progress on the Union Savings Bank and Trust company of this city is declared by officials of the institution to be the result of a conspiracy. After having continued quietly for about two weeks the run during the day was the means of crowding the bank with several hundred excited depositors who failed to reach the paying teller's window. One woman was knocked down and trampled on in the rush, but it is not believed that her injuries will prove dangerous. It is charged that postal cards have been sent to depositors of the bank advising the withdrawal of deposits and that the telephone had been used as a means of giving the same advice. The bank officials say that they have secured some of these postal cards and will endeavor to discover the author of them and, when found, bring criminal actions. Offers of over $2,000,000 in cash have been made by Chicago and New York banks and other local institutions have promised assistance, but all these proffers have been declined with thanks. The bank has $2,500,000 in cash on hand and nearly $8,700,000 in securities that can immediately be converted into cash, besides other assets to care for its $18,700,000 deposits, and the officers express the utmost confidence in the outcome.

10. May 26, 1905 New-York Tribune New York, NY
Article from New-York Tribune, May 26, 1905

Click image to open full size in new tab

Article Text

CINCINNATI BROKERS ASSIGN. 1 Holzman & Co., Members of Exchange, Hope to Resume Soon. Cincinnati, May 25.-Holzman & Co., bankers and brokers in the Union Trust Building and members of the New-York Stock Exchange, assigned to-day to Lepman & Levi. Alfred Holzman, a member of the firm, says: Our assets and liabilities are about $100,000 each. We hope to resume business, and will do so if we get a fair settlement. Our failure is caused by the rumors connected with the German National Bank affairs and the run on the Union Trust Company and the withdrawal of Mr. Feder. I should judge, at a rough estimate. that we are debtor of Cincinnati banks to about $70,000. These amounts, however, are fully secured by the best of stocks. The primary cause of our failure is the failure of a number of our patrons to make good their accounts. We have been carrying about $70,000 in such accounts, all of which we considered good. Among the assets which we have is the seat in the NewYork Stock Exchange, which is worth $80,000; a seat in the Chicago Board of Trade, worth $5,000, and a seat In the Chicago Stock Exchange, worth $2,000. Every cent I have is in the firm.