Bay Parkway National Bank of Brooklyn

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 13088
Charter Number: 13088
Start Date: March 31, 1931
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: e2e5af1198067504

Response Measures

Public signal of financial health

Description

Article (Daily News, 1931-03-31) reports a small, quickly ended run caused by false reports; bank officers quelled withdrawals. No suspension or closure mentioned.

Events (3)

1. June 10, 1927 Chartered

Source: historical_nic

2. March 31, 1931 Run

Cause: Rumor Or Misinformation
Cause Details: False reports regarding the bank's financial stability spread by Louis Abelson, who was arrested.
Random Run: Yes
Random Run Snippet: false reports about bank's stability; run quickly ended
Measures: Bank officers convinced depositors there was no danger of closing, ending the run.
Newspaper Excerpt: Abelson was arrested after there had been a small run on the Bay Parkway National bank at 6614 Bay pkwy. The run was quickly ended by officers of the bank who convinced depositors that there was no danger of its closing.
Source: newspapers

3. May 28, 1931 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. March 31, 1931 Daily News New York, NY

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Article Text

Suits May Delay Awards 2 Years By JOSEPH BERA. Litigation over the Rockaway beach boardwalk condemnation awards of nearly $12,000,000 may continue to drag on in the courts for at least two years. This was indicated yesterday when Leonard M. Wallstein, special assistant corporation counsel, frankly began laying the foundation for an appeal of the awards recently granted by Supreme Court Justice James A. Dunne of Brooklyn. Calls Figures Excessive. Appearing before Justice Dunne, Wallstein announced flatly that he not only regarded the award of Justice Dunne, but also some of the figures submitted by the city's own experts as excessive. Wallstein noted an exception for appeal purposes-when a motion to have these figures stricken out was denied. He later noted a second exception when Justice Dunne refused to admit hs which were offered as evidence to show that the damage claims of property owners for being deprived of ocean frontage by the boardwalk were without foundation. Total Nears $18,000,000. If the case is carried to the court of last resort it is improbable that a decision will be forthcoming within two years. To date, interest charges, fees and incidental charges have reached a total of nearly $6,000,000 in excess of the original $12,000,000 award. FALSE REPORTS START RUN ON BANK; NAB MAN Charged with spreading false reports regarding the financial stability of a bank, Louis Abelson, 35, was held in Bath Beach station last night for a hearing in Coney Island court today. Abelson was arrested after there had been a small run on the Bay Parkway National bank at 6614 Bay pkwy. The run was quickly ended by officers of the bank who convinced depositors that there was no danger of its closing.