14585. State Bank (North Tonawanda, NY)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
January 12, 1900
Location
North Tonawanda, New York (43.039, -78.864)

Metadata

Model
gpt-5-mini
Short Digest
1a4e8893f08bebea

Response Measures

None

Description

Contemporary reports (Jan 15โ€“16, 1900) describe a run on the State Bank in North Tonawanda started by baseless rumors. Bank officials and the examiner reported the bank was in satisfactory condition and there is no mention of a suspension or closure; deposits that day exceeded withdrawals.

Events (1)

1. January 12, 1900 Run
Cause
Rumor Or Misinformation
Cause Details
Run was started through baseless rumors as to the condition of the bank.
Measures
Bank Examiner Clark visited and found the bank in satisfactory condition; cashier publicly reassured depositors; reports of deposits exceeding withdrawals.
Newspaper Excerpt
a run began on the State bank last Friday and continued today. Cashier Benjamin L. Rand said ... there was no danger of the bank closing owing to the run.
Source
newspapers

Newspaper Articles (2)

Article from The Wilmington Daily Republican, January 16, 1900

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Article Text

Magee's Lucky Thrashing San Francisco, Jan. 16.-There died in this city yesterday John Magee, who is credited with having turned the guns of the two British men-of-war on the city of Guatemala 25 years ago, compelling the Guatemalan government to turn $50,000 over to Mr. Magee, who at that time was acting as British consul in that country. Magee incurred the hatred of Rufino Barrios, who hired some thugs to thrash the consul. The British government demanded $50,000, and kept the warships' guns trained on the city until it was paid. Magee invested the $50,000 in paying property, and died a millionaire. Mr. Magee arrived in this city from Paris, en route to Guatemala, on Jan. 6, and was taken ill. His family is in Paris. Baseless Rumors Start " Bank Run. Buffalo, Jan. 16.-A special from North Tonawanda says a run began on the State bank last Friday and continued yesterday. Cashier Benjamin L. Rand said that there was no danger of the bank closing owing to the rush. "I am confident," said he, "that we can withstand any demand that may be made on the bank. Bank Examiner Clark visited the State bank last week and found it in a satisfactory condition." Mr. Rand says the run was started through baseless rumors as to the condition of the bank.


Article from The Saint Paul Globe, January 16, 1900

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Article Text

Run on a Bank. BUFFALO, N. Y., Jan. 15.-A special from North Tonawanda says-a run began on the State bank last Friday and continued today. Cashier Benjamin L. Rand said today that there was no danger of the bank closing owing to the run. Mr. Rand says the run was started through baseless rumors as to the condition of the bank. More money had been deposited up to noon than had been withdrawn.