14361. Trenton Trust & Safe Deposit Company (Trenton, NJ)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
October 26, 1905
Location
Trenton, New Jersey (40.217, -74.743)

Metadata

Model
gpt-5-mini
Short Digest
f6afb99d

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected

Description

Multiple contemporary reports (Oct 26-28, 1905) describe a run driven by an unfounded rumor (started by an 'irresponsible person' or a drunken remark). The bank extended hours, directors made large deposits, and the panic subsided; there is no evidence of a formal suspension of payments, receivership, or permanent closure. One article uses the phrase 'compelled to suspend operations' referring to closing for the day to allow clerks to balance ledgers, not a formal banking suspension.

Events (1)

1. October 26, 1905 Run
Cause
Rumor Or Misinformation
Cause Details
Run was started by circulation of an unfounded rumor—described as wild or careless talk begun by an irresponsible person in a hotel bar and, in one account, a drunken man's remark in a saloon.
Measures
Kept the bank open two hours after regular hours to pay depositors; officers arranged provisions with other Trenton banks; directors (including Col. W.A. Roebling) deposited large sums (reports of $100,000 by Roebling and nearly $300,000 total) to reassure depositors.
Newspaper Excerpt
The circulation of a rumor said to have been started by an irresponsible person over a hotel bar, was the cause of a run on the Trenton Trust and Safe Deposit Company
Source
newspapers

Newspaper Articles (10)

Article from New-York Tribune, October 27, 1905

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Article Text

RUN ON TRENTON BANK. Small Depositors Scared by Rumor Institution Sound. [By Telegraph to The Tribune.] Trenton, Oct. 26.-The circulation of a rumor said to have been started by an irresponsible person over a hotel bar, was the cause of a run on the Trenton Trust and Safe Deposit Company, one of the largest financial institutions in the city to-day. The trust company kept open for two hours after the regular banking hours in an effort to satisfy the demands of the many anxious depositors that thronged the doors, but was finally compelled to suspend operations to give the exhausted clerks an opportunity to balance the ledgers in anticipation of to-morrow's business. The run on the bank did not begin to assume serious proportions until shortly before the closing hours when scores of small depositors from the southern section of the city came with many women who had been frightened by the exaggerated reports. When the bank finally closed its doors for the day there were several hundred persons waiting on the outside, and even to-night the crowd did not disperse. All the other banks in the city tendered their assistance, but the cash on hand in the trust company was sufficient to meet all demands to-day. Ex-State Controller William S. Hancock, one of the directors. said tonight that when the bank opened in the morning it would have a quarter of a million dollars on hand and would be prepared to go on making disbursements as long as the run might continue. Mr. Hancock personally guaranteed more than $25,000 in deposits belonging to small depositors who had become frightened, and called on him. Colonel Washington A. Roebling, vice-president of the John A. Roebling's Sons Company and of the trust company, said he would increase his personal deposit in the institution by $100,000 to-morrow morning. All the directors, who include some of the wealthiest men in the city, announced that they would also increase their deposits.


Article from Perth Amboy Evening News, October 27, 1905

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Article Text

Run on Trenton Trust Company. TRENTON. N.J., Oct. 27.-A run on the Trenton Trust and Safe Deposit company here reached such an extent that there were hundreds of depositors gathered around the bank waiting to draw their deposits. President Hugh Hamill said that there was no valid reason for the run, which evidently had been started by some wild or careless talk among the bank's small depositors.


Article from The Montgomery Advertiser, October 27, 1905

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Article Text

will Pay All Depositors. Trenton, N. J., Oct. 26.-A run on the Trenton Trust and Safe Deposit Company, which began here yesterday in a mild way, reached such an extent today that there were hundreds of depositors gathered around the bank awaiting to draw their money. The officers of the institution kept the bank open till 6 o'clock to accommodate those who wanted to withdraw their deposits. President Hugh Hammill said tonight that there was no valid reason for the run, which evidently had been started by some wild or careless talk among the bank's small depositors. The bank, Mr. Hammill said, has made ample provisions through other Trenton banks to meet any demand that may be made tomorrow.


Article from The Barre Daily Times, October 27, 1905

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Article Text

RUN ON TRENTON BANK. Less Than $100,000, However, of $3,000,000 Deposits Withdrawn. Trenton, N. J., Oct. 27.-A run on the Trenton Trust and Safe Deposit company, which began here Wednesday in a mild way, reached such an extent yesterday that hundreds of depositors gathered around the bank waiting to draw their money. The institution was kept open until 6:00 p. m. President Hugh Mills said this afternoon that there was no valid reason for the run, which is not expected to assume dangerous proportions. The amount thus far drawn out is less than $100,000, out of a total of about $300,000.


Article from Waterbury Evening Democrat, October 27, 1905

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Article Text

Run on Trenton Trust Company. TRENTON. N. J., Oct. 27.-A run on the Trenton Trust and Safe Deposit company here reached such an extent that there were hundreds of depositors gathered around the bank waiting to draw their deposits. President Hugh Hamill said that there was no valid reason for the run, which evidently had been started by some wild or careless talk among the bank's small depositors.


Article from The Birmingham Age-Herald, October 27, 1905

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Article Text

RUN ON BANK. 1 Trenton Institution Is Paying as Fast as They Come. Trenton, N. J., October 26.-A run on the Trenton Trust and Safe Deposit company which began here yesterday in a mild way reached such an extent today that there were hundreds of depositors gathered around the bank awaiting to draw their money. The officers of the institution kept the bank open till 6 o'clock to accommodate those who wanted to withdraw their deposits. President Hugh Hamill said tonight that there was not valid reason. for the run which evidently had been started by some wild or careless talk among the bank's small depositors. The bank, Mr. Hamill said, has made provisions through other Trenton banks to meet any demands that may be made tomorrow.


Article from Evening Star, October 28, 1905

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Article Text

A run on the Trenton, N. J., Trust and Safe Deposit Company, which began Wednesday in a mild way, reached such an extent yesterday that there were hundreds of depositors withdrawing their money. The panic finely subsided.


Article from Bismarck Daily Tribune, October 28, 1905

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Article Text

Run on Bank Continues. Trenton, N. J., Oct. 28.-The run on the Trenton Trust and Safe Deposit company, which assumed large proportions Thursday, continued during the day, but the withdrawals at noon, while they aggregated between 200 and 300 accounts, amounted to less than $40,000. original


Article from The Montgomery Advertiser, October 28, 1905

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Article Text

Run on Bank Slackens. Trenton, N. J., Oct. 27.--The run on the Trenton Trust and Safe Deposit Company, which assumed large proportions yesterday, continued today, but the withdrawals at noon, while they aggregated between 200 and 300 accounts, amounted to less than $40,000. In the meantime deposits were made by Col. Washington A. Roebling, Col. A. R. Kuzer and other directors, and Trenton Business men to a total of nearly $300,000. The run is confined to small depositors.


Article from Los Angeles Herald, November 10, 1905

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Article Text

DRUNKEN MAN STARTS RUN Italian and Hungarian Depositors Withdraw Funds From Bank TRENTON, N. J., Nov. 9.-There was a run today on the renton Trust and Safe Deposit company, which has a capital stock of $200,000 and $100,000 assets. The run was precipitated by a remark of a drunken man in a saloon, who said that the bank was not in good condition. The statement was made several days ago, but no effect was felt until this afternoon, when it was apparent the rumor had spread among the foreign colony. At 3 o'clock there was a long line of Italian and Hungarian women in line drawing out their accounts, while near them was a line of business men making their deposits for the day. The bank kept open two hours after the regular closing time to pay all depositors, and when the last one was paid Col. Washington A. Roebling, vice president of the bank, announced to a crowd that possibly he would deposit $100,000 in the bank tomorrow and would do so each day as long as the run lasted.