Merchants National Bank (Plattsburg, NY)

Episode Information

Episode Type
Run Only
Start Date
May 12, 1931
Location
Plattsburg, New York (44.699, -73.453)
Bank Type
national
Charter Number
13548

Metadata

Response Measures

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

Notes

Newspapers use spelling Plattsburgh interchangeably with provided Plattsburg.

Events (2)

1. May 12, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Threatened depositor run/panic (large withdrawals previous night) with no bank-specific insolvency cited; emergency cash flown in to stem withdrawals.
Measures
Borrowed cash from Albany banks transported by airplane under guard and delivered to the bank to meet withdrawals.
Newspaper Excerpt
airplane carrying cash took off Albany today ... turned over the reorganized Merchants National Bank Plattsburgh ... sought get the money to their bank before opened in an effort withstand threatened run
Source
newspapers
2. May 12, 1931 Chartered
Source
historical_nic

Newspaper Articles (3)

Article Text

FACES FIRST REAL CRISIS IN OUTBREAK

Martial Law Declared in Seville as Rioters Burn Churches; Violence Spreading

COMMUNIST INFLUENCE

PLANE SAVES BANK Albany, May (INS) airplane carrying took off from Albany airport today bound for Plattsmoney had been borrowfrom Albany banks, transported across city under heavy guard state and bank police, and turned over the MerchNational bank at Plattsburg. The Plattsburg bank officials get the money to their sought before opened an fort threatened developed. The threatened night more than $250,000

By Thomas Loayza Staff Madrid, May 12 already force in extended Seville today when out the Catholic burning five more to the ground in an unrestrained violence. Troops immediately called their garrisons stand guard over the ancient city, long religious center. The outbreak occurred this morning. mob of demonstrators. defying polico guards, fire Capucine convent, Carmelite convent, school, convent church All were completely destroyed, the firemen confining their activities to preventing spread of the flames. Destruction of second church by fact oters were unable to break in massive doors Angered over the failure their plan, crowd then largest most beautiful churches in the appalled nt the Spectators, stepped and dissuaded the rioters from their intention stroying edifice appealing cessfully them spare it as national monument The crowd of demonstrators and who had filled streets since early morning hours tered heavily armed troops took possession city, setting up detachments before church buildings, as had been done Madrid. Intense indignation was expressby the general populace over ments hold the alleged of for mitting the destruction to the place. The rioting mobs the lowest class, of rabble influenced slightly by parently who have taken munist propaganda, the present situation demonstrate attempt to throw sentiments country into anarchy. Under bristling guns of the drawn swords fantry alrymen, Madrid was quieted during hours today. Most the the early returned to their tasks. workers


Article Text

RUN ON BANK THREATENED SENT BY PLANE

ALBANY N May N. plane took off from Albany Air today for The reorganized Merchants National Bank at Plattsburgh the money from Albany banks to withstand threatened run.


Article Text

Plane Rushes Million To Stem Run On Bank ALBANY May 12. airplane carrying cash took off Albany today The money had been borrowed from Albany banks across the city under heavy guard of state and and turned over officials the reorganized Merchants National Bank Plattsburgh Plattsburgh officials sought get the money to their bank before opened in an effort withstand threatened run developed The run Saturday night more than $230.00 was withdrawn