13412. Fredonia National Bank (Fredonia, NY)

View Charter #841 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
841
Charter Number
841
Start Date
July 7, 1893
Location
Fredonia, New York (42.440, -79.332)

Metadata

Model
gpt-5-mini
Short Digest
9b1f3d03b960b5e3

Response Measures

Accommodated withdrawals, Public signal of financial health

Receivership Details

Depositor recovery rate
70.2%
Date receivership started
1905-06-19
Date receivership terminated
1912-10-31
OCC cause of failure
Fraud
Share of assets assessed as good
37.6%
Share of assets assessed as doubtful
26.2%
Share of assets assessed as worthless
36.2%

Description

Two contemporary newspaper dispatches (dated July 7–8, 1893) report a small run on Fredonia National Bank triggered by the failure of the Ward concern at Forestville. The bank displayed large stacks of cash on the counters which reassured depositors; there is no mention of suspension or closure.

Events (3)
1. February 27, 1865 Chartered
Source
historical_nic
2. July 7, 1893 Run
Cause
Local Banks
Cause Details
Run was provoked by the failure of the Ward concern at Forestville, which alarmed local farmers and grape growers unfamiliar with the bank's standing.
Measures
Clerks piled large stacks of cash on the counters to reassure depositors; this display prevented further withdrawals.
Newspaper Excerpt
A small run was made on the Fredonia National Bank yesterday afternoon on account of the Ward failure at Forestville. Great stacks of money were piled upon the counters, and when the depositors saw the display of cash, most of them walked out again without demanding their deposits.
Source
newspapers
3. June 19, 1905 Receivership
Source
historical_nic

Newspaper Articles (2)
1. July 8, 1893 The Sun New York, NY
Article from The Sun, July 8, 1893

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Article Text

SAW THE HEAPS OF MONEY. That Satisfied the Fredonia Depositors and Prevented a Run on the Bank. FREDONIA. N. Y., July 7.-A small run was made on the Fredonia National Bank yesterday afternoon. on account of the Ward failure at Forestville. The farmers and grape growers in the vicinity who did not know the standing of the bank had a bad scare. Great stacks of money were piled upon the counters. and when the depositors saw the display of cash. most of them walked out again without demanding their deposits.

2. July 8, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 8, 1893

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Article Text

SMALL RUN ON A BANK AT FREDONIA. Buffalo, July T.-A dispatch from Fredonia, N. Y., says that a small run was made on the Fredonia National Bank yesterday afternoon on account of the Ward failure at Forestville. The run did not amount to much in the aggre gate, but the farmers