13371. Merchants National Bank (Dunkirk, NY)

View Charter #2619 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
2619
Charter Number
2619
Start Date
January 23, 1922
Location
Dunkirk, New York (42.480, -79.334)

Metadata

Model
gpt-5-mini
Short Digest
4fa4dbd3fb680e5a

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health

Description

Contemporary reports (Jan 23, 1922) describe a run caused by unfounded rumors. The bank paid all depositors who asked and received $320,000 in aid from the Marine Trust Company of Buffalo; many depositors redeposited funds. There is no mention of suspension or receivership.

Events (3)
1. January 23, 1882 Chartered
Source
historical_nic
2. January 23, 1922 Run
Cause
Rumor Or Misinformation
Cause Details
Unfounded rumors prompted withdrawals; described as false in the articles.
Measures
Paid every depositor who requested funds; Marine Trust Company of Buffalo sent $320,000 in aid, which helped restore confidence and led many to redeposit.
Newspaper Excerpt
A run was made today on the Merchants' National bank, due to unfounded rumors. Every depositor who asked for his money was paid all. The Marine Trust company, of Buffalo, sent $320,000 here.
Source
newspapers
3. June 29, 1946 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)
1. January 24, 1922 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, January 24, 1922

Click image to open full size in new tab

Article Text

UNFOUNDED RUMORS START RUN ON BANK (By The Associated Press.) Dunkirk, N. Y., Jan 23.-A run was made today on the Merchants' National bank, due to unfounded rumors. Virtually all the accounts withdrawn were those of foreigners, the smaller depositors. Every depositor who asked for his money was paid all. The Marine Trust company, of Buffalo, sent $320,000 here. At the sight of the large pile of money many of the depositors who had withdrawn their money re-deposited it. The Merchants' National bank is a member of the federal reserve.

2. January 24, 1922 Bisbee Daily Review Bisbee, AZ
Article from Bisbee Daily Review, January 24, 1922

Click image to open full size in new tab

Article Text

Run Made on Bank Following Rumors That Prove False DUNKIRK, N. Y., Jan. 23.-A run was made today on the Merchants National Bank due to unfounded rumors. Virtually all the accounts withdrawn were those of foreigners, the smaller depositors. Every depositor who asked for his money was paid all. The Marine Trust Company of Buffalo, sent $320,000 here. At the sight of the large pile of money, many of the depositors who had withdrawn their money re-deposited it. The Merchants National Bank is a member of the federal reserve.