Amoskeag Bank - Manchester, NH

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: February 25, 1878
Location: Manchester, New Hampshire (42.996, -71.455)

Metadata

Model: gpt-5-mini
Short Digest: 21744fdc

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Newspaper reports a rumor-driven panic on Feb 25, 1878 that caused heavy withdrawals ($30,000). Bank officers reassured public the bank had a $200,000 surplus and would meet demands. There is no mention of suspension or closure.

Events (1)

1. February 25, 1878 Run

Cause: Rumor Or Misinformation
Cause Details: A street rumor about the bank's standing caused panic among small depositors leading to $30,000 withdrawn.
Measures: Bank officers publicly stated a surplus of $200,000 and that the bank would meet all demands.
Newspaper Excerpt: A rumor prevailed on the street to-day, affecting the standing of the Amoskeag Bank, causing a panie among small depositors. Thirty thousand dollars was paid out.
Source: newspapers

Newspaper Articles (1)

1. February 26, 1878 New-York Tribune New York, NY

Article from New-York Tribune, February 26, 1878

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Article Text

MANCHESTER, N. H., Feb. 25.-The Supremo Court has appointed William B. Johnson to be receiver of the City Savings Bank, who will convert the assets of that institution into cash, and wind up its affairs as rapidly as possible. A rumor prevailed on the street to-day, affecting the standing of the Amoskeag Bank, causing a panie among small depositors. Thirty thousand dollars was paid out. The officers of the bank claim a surplus of $200,000, and will meet all demands. The deposits amount to $2,000,000.