13918. Hudson County National Bank (Bayonne branch) (Bayonne, NJ)

Bank Information

Episode Type
Run Only
Bank Type
national
Start Date
February 3, 1931
Location
Bayonne, New Jersey (40.669, -74.114)

Metadata

Model
gpt-5-mini
Short Digest
9bbb5144

Response Measures

Accommodated withdrawals

Description

Multiple newspaper reports (Feb 4–6, 1931) describe a two-day run on the Bayonne branch caused by false rumors among foreign depositors. The bank paid out large sums ($600k–$754k reported), offered a $1,000 reward for those spreading the rumors, stationed police details, and thereafter saw deposits and re-deposits with confidence restored. The bank did not suspend and continued operations.

Events (1)

1. February 3, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Baseless/false rumors circulated (reported as spread among foreign depositors) that the bank was in poor condition, triggering heavy withdrawals.
Measures
Offered $1,000 reward for information about rumor spreaders; paid out cash promptly from large reserves; police stationed special detail to keep order; public statements encouraging confidence.
Newspaper Excerpt
With a long line of depositors waiting to withdraw their money from the Bayonne branch of the Hudson County National Bank ... the rumors responsible for the run on the The run started yesterday.
Source
newspapers

Newspaper Articles (10)

Article from Times Union, February 4, 1931

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JERSEY BANK HIT BY RUMOR PASSERS BAYONNE, N. J., Feb. 4.-With a long line of depositors waiting to withdraw their money from the Bayonne branch of the Hudson County National Bank in Bayonne, and tellers passing out the money as fast as they could count it, officials of the Hudson County National Bank to-day offered a reward of $1,000 for information that would cause the arrest and conviction of the person or persons who spread the rumors responsible for the run on the The run started yesterday. Long before the bank opened to-day line of had formed in front of it. The bank officials, however, were ready for them and passed out cash rapidly Not all of those who shouldered their way in to the bank were withdrawing. Many business men made substantial de posits.


Article from Times Union, February 4, 1931

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Brooklyn Brevities SCALDS FOOT Joseph Widemeyer, 52, of 165 Franklin street, was treated at his home for scalds on the right foot by Ambulance Surgeon Rossi of St. Catharine's Hospital when hot water fell on it, yesterday. HELD IN ROBBERY Carmine Guerio, 20, of 129 Newton street, was arraigned before Magistrate Curtis in Bridge Plaza court, yesterday, charged with as sault and robbery. He was held without bail for examination tomorrow It is alleged he participated in the holdup of Abra ham Katz. cashier of the Williamsburg Turkish Baths, 274 South First street, yesterday, when $40 was taken from the cash drawer. SANITARY VIOLATORS FINED JERSEY BANK HIT Thirty violators of the sanitary code were before Magistrate Curtis, BY RUMOR PASSERS yesterday, in Bridge Plaza court. In each case the court lectured the offender and then imposed a fine BAYONNE, N. J., Fet. 4.-With a of $2 with the option of spending long line of depositors waiting to one day in jail. The fines were withdraw their more; from the paid. Bayonne branch of the Hudson County National Bank in Bayonne, ASSAULT CHARGED and tellers passing out the money as Joseph Liotta, 20, of 214 Johnson fast as they could count it, officials avenue, and Charles Martin, 17, of of the Hudson County National 42 Hopkins street. were held in $500 Bank to-day offered a reward of $1,000 for information that would bail each, yesterday, in Bridge Plaza (cause the arrest and conviction of court on a charge of assault for the person or persons who spread examination Feb. 9. The comthe rumors responsible for the run plainant was Bethran Kachman of 276 Boerum street who said he was on the The run started yesterday. Long in a theatre at Broadway and before the bank opened to-day a Flushing avenue when the deline of depositors had formed in fendants in a dispute punched and front of it. The bank officials, kicked him. They denied the allehowever, were ready for them and gation. passed out cash rapidly. Not all of those who shouldered their way in- STREET BLOCKER to the bank were withdrawing. Many Patrolman Pape of the Coney business men made substantial deIsland station was the complainant posits. yesterday against Nicholas Masen, 62, of 26 Court street, whom he charged with violation of the city ordinances in obstructing the street in front of 1321 Surf avenue with building material. Masen assured Magistrate Hughes that he would remove the material to conform to the law. CRUEL TO HORSE In Coney Island court yesterday Harry Jakob, 38, of 1744 Sixty-third street, pleaded guilty to a charge of cruelty to an animal and was fined $2 by Magistrate Hughes. The complaint was made by Agent Ray Mulligan of the A. S. P. C. A., who alleged Jakob raced and galloped horse which was attached to a delivery wagon. SHOUTED TOO LOUD He yelled "Help-murder" when Patrolman John Esposito of the Fifth avenue station requested him to move on, the latter charged in a disorderly conduct complaint made against George DeBaum, 34, of 418 Forty-ninth street, in Fifth court yesterday. According to the policeman, he was dispersing group excitedly arguing at Ninth street and Sixth avenue when DeBaum began to shout. Magistrate Steers paroled DeBaum for hearing to-morrow. PLEADS NOT GUILTY Charged with petty larceny, Arthur Lombardi, 17, of 2025 West Fifth street, pleaded not guilty when arraigned before Magistrate Hughes in Coney Island court and was held in $300 bail for further hearing on Feb. 11. Special Patrolman Harry Stennes, employed by the Collier Service Corporation. accuseds him of forcing open vending machines on stations of the Sea Beach subway line and stealing $1.40 in pennies from them. PAROLED FOR HEARING Joseph Borick, 42, of 2927 West Thirty-first street, appeared before Magistrate Mughes in Coney Island court yesterday on charge of disorderly conduct preferred by Mrs. Ruth Shulman, of 2928 West Thirtyfirst street. The woman alleged that Borick struck her six-year-old son, Elihu, blow in the face without provocation. He pleaded not guilty and was paroled for further hearing next Monday. SHORT-CHANGED Henry Spita, 50, of 540 Sixth avenue, was held in $300 bail for the Court of Special Sessions after a hearing in Fifth avenue court yesterday on a petty larceny charge brought by one of the customers of his grocery store who alleged he short-changed her daughter. According to Mrs. Margaret Sullivan, of 252 Sixteenth street, she sent her daughter, Lillian, 11, to buy quart of milk. Instead of giving her change of $5 bill, the grocer gave change for $1, the told Magistrate Steers. PAID TO DANCE Charged with operating a dance hall in a house at 641 Sixty-sixth street without a permit, Doffner Anderson, 33, of that address, and Allan Nelson, 29, of 674 Forty-seventh street, were arraigned before Magistrate Steers in Fifth avenue court yesterday. The complaint was made by Patrolman Louis Petersen, of the Tenth Division, who declared he paid the 50 cent admisison price to Anderson and delivered the ticket to Nelson. FARE INVOLVED The alleged use of a brass slug in passing through B. M. T. turnstile on the Fort Hamilton parkway station of the Sea Beach line brought Herman Golden, 19, of 964 Fiftyeighth street, to Fifth court yesterday. He was held in $100 bail by Magistrate Steers for hearing next Tuesday on the of Ralph Lerman, a special officer for the B. M. T. HELD FOR GRAND JURY John Rhodes, 26, and Segvald Helgelend, 25, both of 99 Second place, were held for the Grand Jury in $1,000 ball each by Magistrate Steers in Fifth avenue court yesterday after hearing on a burglary charge. They were arrested when seen the restaurant of Olav Nilsen, at 426 Court street, Wednesday morning. Police later found the glass of hallway door broken and the coin boxes of an automatic victrola and cigarette machine smashed.


Article from The News Journal, February 5, 1931

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GOVERNOR DEFIES LEGISLATURE Associated Feb. of the Legislature sought today determine whether attack Governor H Alfalfa Bill' Murhad ranks that joined kill his bill tax school officials for relief of drought voted down the and refused to follow his reduce the general's the shouted joint yesterday that he resign the Legislature wanted to, after of his program "These measures. asserted going to put through The said he might call public meetings in every county in the State Halt Run In Bank. Bu Associated the Bayonne branch the Hudson County tional Bank first minutes business today and officers the run on bank. during which $600,000 was ended


Article from The Daily Record, February 5, 1931

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SAVINGS DEPOSITS RETURN TO BANK BAYONNE, Feb. the Bayonne branch of the Hudson County National Bank the first 15 minutes today, and officers said the two day run on the bank, during which over $600,000 was withdrawn, was ended. reward of $1,000 has been offered for information about persons alleged to have spread false rumors Amoung foreign depositors that the in poor condition.


Article from Times Union, February 5, 1931

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OF CASH ENDS RUN ON BANK BAYONNE, N. J., Feb. on the Bayonne branch of the Hudson County National Bank which started two days ago ended Although officials of the bank prepared continue paying out money police had stationed special detail at the bank keep order demand for the extra supply cash which the bank had brought handle the the services of the special detail police,


Article from The Bayonne Times, February 5, 1931

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BIG DEPOSITS EVIDENCE OF PUBLIC FAITH Prompt Payments, Huge Cash Reserves and Long Lines of Depositors Conquer False Rumors CONFIDENCE IS FULLY RESTORED Institution Emerges With Flying Colors and Most of Emergency Cash UntouchedReport Many New Accounts A stream of depositors putting money in the Bayonne branch of the Hudson County National Bank, Broadway and street, this morning marked definite end to the run on that institution. The line of bank customers seeking to make withdrawals had entirely disappeared and the confidence of a small percentage of its 25,000 depositors, shaken by false rumor on Tuesday, was completely restored. William Conway, vice-president in charge of the Bayonne PLANT WORKERS, branch. stated late this morning that deposits were exceptionally heavy. many of those who had CITY EMPLOYES withdrawn their cash returning re-deposit it, while business men were making large AID RELIEF FUND posits to further prove their confidence the bank. Run At An End At 9:15 o'clock this minutes after the bank opened for business for the Conannounced that had been deposited, while only four five people had appeared make and they were people were need of cash and would have withdrawn today matter what transpired during past few days. The Hudson County National Bank, when its doors opened this morning, stood out the victor one of the most serious assaults banking institution in the city has weathered, come through with flying colors with confidence in its stability more sound than ever. Every depositor that stood in yesterday was given the money she, sought. Business ried until after usual closing time that standing in the line along East street would be turned away dissatisfied. When the last depositor entered the bank William way, in charge branch, mounted chair and clared: "It is matter of personal satisfaction to me, ladies and gentlemen, that every depositor who sought her money has received will have before close up for the day. And they don't today and want tomorrow then, for this bank will doing business tomorrow, the next day, next year and for years after you and are dead." And although the scare had died and confidence restored every hand, regular depositors and prominent civic leaders and business men continued to give further tures their faith in the institution. New Accounts Opened Among those who opened new counts yesterday was Director Parks Public Property L Donohoe. Others continued to make deposits running from two figures five, while Mr. Conway also celved batch of telegrams expres sing confidence. long line of depositors also formed the inside the bank shortly after opening today. Mr. Conway said this morning that $750,000 had been during Tuesday and yesterday and that terday over $200,000 had been (Continued page


Article from Press of Atlantic City, February 5, 1931

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Run On Bayonne Bank Ends; $754,000 Drawn Reward Offered for Identity of Persons Spreading Insolvency Rumors BAYONNE, Feb. drawals from the Bayonne branch of the Hudson County National bank stopped today after $754,000 had been taken About $200. 000 was deposited during the day William Conway, vice-president of the bank. announced reward $1000 for information about persons alleged to have spread rumors that the bank was in poor Most of those making withdrawals the of foreign laborers. Many of them opened new accounts after withdrawing their money. GARRETT JURY DISAGREES BOSTON, Feb. (P).-A Suffolk county jury early tonight reported disagreement in the case of Oliver B. Garrett, former Boston police liquor raider charged with conspiracy to extort. Disagreement was reported in the cases of Mrs. Garrett and Lillian Hatch, former room at the Hotel Ritz, also charged with conspiracy to extort LEAVE FOR SOUTH Profe William C. Sullivan, former superintendent of Pleasantville schools, with Mrs. Sullivan, left Sunday for Florida. They will spend the entire month in the south


Article from The Bayonne Times, February 6, 1931

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NEW ACCOUNTS, RE-DEPOSITS BANK REPORTED Conway Thanks Public, in Statement, for Show of Confidence More than 150 depositors who withdrew their savings from the Bayonne branch of the Hudson County National Bank, re-opened accounts this morning, and behind them is coming steady stream of others, it was stated at the bank. All traces of Tuesday's and run having entiredisappeared, the bank has settled down to business that is normal, with the exception of the increased deposits it is receiving. Yesterday's deposits exceeded the mark, William Conway said this morning. The withdrawals small ones that would have been made even if there never had been run. Delighted with the fortitude with which the institution had met the baseless rumor that in the run, the bank officials and staff were in high spirits, confident that all the money that had been taken out would soon be posited again. In statement issued today the bank says in part: "False circulated by and irresponsible individuals resulted in unwarranted anxiety among some depositors our office and Twenty-third street. All demands were met promptly and in full. Not only were the withdrawals checked within 24 hours but most of the money withdrawn was re-deposited. part the public that (Continued page


Article from Keyport Enterprise, February 12, 1931

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Bayonne Bank Run Ends Nearly was deposited the Bayonne branch of the Hudson County National bank in the first minutes of business last and officers said the two-day run the bank, during which over $600,was withdrawn, was ended. A reward has been for information about persons leged to have spread false rumors among foreign depositors that the was in poor condition.


Article from The Jersey Journal, February 27, 1931

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CONWAY IS HONORED BY 500 FRIENDS Speakers Stress His Work During "Run" on Bank of Which He Is VicePresident. After twelve years of service the interest of Bayonne, liam A. the Hudson County National Bank. in charge branch and 23rd by of his friends last night dinner the Columbus Building, on W. 30th St., Avenue Among those present were numFrank Ferguson, president of the bank: former Judge Robert Carey, and Major Eugene Kinkead, sheriff of Hudson Counfrom the Eighth Attending Mayor Daly, Lucius George E. Keenan, William Keegan. Joseph scheduled be present ill his Others present Francis Brick. principal of the Senior High School: Adzima, of St. Joseph's Roman Catholic Church; Anthony Tralka, Lady of Mt. Carmel Church, Rev George Becker, First Church Carl Ser Commissioner and chairman of Republican Chief Police O'Neil Jerome Brady of the Consumers' Coal After the speakers, introduced Percival Cruden, acted toastmaster all paid high tribute Mr. Conway was sented set silver by Mr. Brady He made an appropriate speech. during which thanked all had made the Among interesting features of the affair ing the Carey. his Mrs Conalong William and applauded by every one present they also stood. Mr. the first who reached the city short before the banquet from Detroit, where he been for week national gathering of public superintendents principals, 15,000 men that ing courtesy, and industry phasized every school boy and girl should They necessary success, said, Mr. them high During high tribute Mr. Conway, Major Kinkead said that was due to his efforts that the recent run without any real foundation, due to false and baseless As balance the tions number of misguidmen and citizens the city had stood behind Conway. their the "run, could called such, was ended 24 hours Judge words of praise for his work during the recent disturbance During twelve years in he has taken live public civic business affairs improvement of the city, he said. Mr. Ferguson the care Mr Conway come to Bayonne in 1918. He had by Mr. the Federal Bank in Newmade thorough investigation before ment of the Bayonne branch of the "Bayonne's population about 80,he said. "There about accounts in the branch of the Hudson County National Bank and of these something over 700 were withdrawn during the disturbance. was due and support which the excitement over in very few Reverends Adzima, Tralka and Becker each had for Conway for his efforts in interest of the bank short time After Mr. Brady had presented him with silver Mr. Conway, after thanking the donors, went talk of incidents which led him come Bayonne He with feeling, that in 1918 before coming