Other: Response described is legal action: indictment of Mr. and Mrs. Froelich for allegedly causing the run. No bank response measures (loans, suspensions, examinations, public displays of cash, capital injections, or accommodation practices) are described in the articles.
Receivership Details
Depositor recovery rate
86.6%
Date receivership started
1934-05-09
Date receivership terminated
1938-10-07
Share of assets assessed as good
31.5%
Share of assets assessed as doubtful
68.3%
Share of assets assessed as worthless
0.2%
Description
Multiple contemporaneous articles (July 11–13, 1931) report a run on the Hewlett-Woodmere National Bank allegedly started when Mr. and Mrs. Monroe Froelich withdrew $1,000 and spread reports—after a 'mysterious voice' telephone call—that the bank was insolvent. Articles describe indictments for causing the run. No article mentions a suspension, receivership, reopening, or permanent closure, so classify as run_only.
Events (3)
1.January 3, 1923Chartered
Source
historical_nic
2.July 11, 1931Run
Cause
Rumor Or Misinformation
Cause Details
A 'mysterious voice' telephoned the Froelichs urging them to take out their money; they withdrew $1,000 and told friends, spreading reports the bank was insolvent.
Newspaper Excerpt
The Froelichs were accused of starting a run on the Hewlett-Woodmere National Bank by drawing out their $1,000 and spreading reports that the bank was insolvent.
Source
newspapers
3.May 9, 1934Receivership
Source
historical_nic
Newspaper Articles (10)
1.July 11, 1931Daily SentinelRome, NY
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Article Text
Couple Indicted For Starting Run On Bank Mineola, July 11 Nassau County grand jury, after indicting Monroe Froelich, Hewlett, Long Island, for causing run Woodmere bank, was to day considering indictments against other persons. The Froelichs were accused of starting run the mere National Bank by out their and spreading re ports that the bank was insolvent.
2.July 11, 1931Finger Lakes TimesGeneva, NY
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Article Text
Man Killed, Two Others Injured in Auto Crash
Mineola, July The Nassau county grand jury, ter indicting Mr. and Mrs. MonHewlett, Long Island, for causing Woodmere today sidering handing gainst other persons. The Froelichs were accused starting the HewlettWoodmere National Bank drawing out their and spreading the reports that the bank insolvent. The Froelichs told the district attorney's office that mysterious voice them take They did and told few of their they said Other persons who counts are to questioned
3.July 11, 1931The News JournalWilmington, DE
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COUPLE INDICTED IN BANK RUN
By The Associated Press MINEOLA. July Nassau County grand jury, after dicating Mr. and Mrs. Monroe Froelich, Hewlett, Long Island, for causing run on Woodmere bank. was today considering handing indictments against other persons. The Froelichs were accused starting run on the Hew mere National Bank by drawing out their $1,000 and spreading ports that the bank insolvent. The Froelichs told the district torney's that mysterious voice telephoned them to take their money. They did and told few of their friends they said. Other persons who withdrew acounts to be questioned by the grand jury.
4.July 11, 1931Evening StarWashington, DC
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Article Text
BANK RUN INDICTMENTS MAY BE INCREASED Mineloa, N. Y., Grand Jury Probes Others After Holding Man and Wife for Rumors. By the Associated Press. MINEOLA, N. Y., July 11.-The Nassau County grand jury, after indicting Mr. and Mrs. Monroe Froelich of Hewlett, Long Island, for causing a run on a Woodmere Bank, was today considering handing up indictments against other persons. The Froelichs were accused of starting a run on the Hewlett-Woodmere National Bank by drawing out their $1,000 and spreading the reports that the bank was insolvent. The Froelichs told the district attorney's office M that a mysterious voice telephoned them to take out their money. They did and told a few of their friends, they said. Other persons who withdrew accounts are to be questioned by the grand jury.
5.July 11, 1931Elmira Star-GazetteElmira, NY
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Article Text
Two Are Indicted For Run On Bank
Mineola, July Nassau County jury, after indicting Mr. Monroe Froelich, of Hewlett, Long Island, for causing run Woodmere bank, today handing up indictments against other persons. The Froelichs were accused of starting the HewlettWoodmere National Bank by drawout their $1,000 and spreading reports that the bank was insolvent.
6.July 11, 1931The NewsPaterson, NJ
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Article Text
Indict Two for Causing Run Woodmere Bank on
Mineola, Nassau county grand jury, The indicting Mr. and Mrs. MonFroelich. Hewlett, Long roe Island. for causing Woodmere considhanding up indictments ering against other The Froelichs accused on the starting bank by drawtheir and the the bank was told attorney's office that telephoned take their money. They few their friends, Other persons who are
Two Indicted for Starting Bank Run
The Nassau county after indicting Mr. and Mrs. roe Froelich, Hewlett, Long Island, for causing run Woodmere bank, was considering against other persons, The Froelich's were accused of starting run on Hewlettby drawing out their. $1,000 and reports that the bank was The Froelichs the district attorney's office that mysterious voice telephoned them to take out their money They did few of, their friends they
8.July 11, 1931Sun-JournalLewiston, ME
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Article Text
INDICT COUPLE FOR CAUSING BANK RUN
Mysterious Telephone Call Blamed for Run on Woodmere Hold Others
MINEOLA. N. July The Nassau county grand jury. indicting Mr. Mrs. Monroe Froelich. Hewlett, Long Island. for causing run bank. today handing up indictments against other persons. The Froelichs were accused starting run on Woodmere National bank by out their $1,000 and spreading the reports that the bank was solvent. Froelichs told district attorney's office that terious voice take out their money They did few of their friends. they Other persons who counts to be questioned by grand jury.
9.July 12, 1931The Indianapolis StarIndianapolis, IN
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Article Text
INDICT TWO FOR BANK RUN; CONTINUE PROBE
MINEOLA, N. Y., July The Nassau county grand jury, after indicting Mr. and Mrs. Monroe Froelich of Hewlett, Long for causing run on Woodmere bank, was today considering handing up inagainst other persons. The Froelichs were accused of starting run on the National bank by drawing out their $1,000 and spreading the that the bank was The Froelichs told the district attorney's office that mysterious voice telephoned them out their money. They did and told few of their friends, they said. Other who withdrew counts are to be questioned by the grand jury.
10.July 13, 1931Anderson Daily BulletinAnderson, IN
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Article Text
FOR
Mineola, N. Y., July The Nassau grand jury, indicting Mr. Mrs. Monroe ter Froelich of Hewlett, Long Island. for causing run on bank, today hand. indictments against other ing up persons. accused of The Froelichs were starting the Woodmere National Bank by draw out their $1,000 and spreading the report that the bank vent. The Froelichs the dis trict attorney's office mysterlous voice them to take out their money. They did and told few of their friends, they said. Other persons withdrew counts are to be questioned by the grand jury.