14842. Brooklyn Trust Company (Brooklyn, NY)

Bank Information

Episode Type: Run Only
Bank Type: trust company
Start Date: August 15, 1929
Location: Brooklyn, New York (40.660, -73.951)

Metadata

Model: gpt-5-mini
Short Digest: cc33b419

Response Measures

Accommodated withdrawals

Other: Brooklyn Trust Company supplied cash (armored truck) to meet a run on the Ridge/Bay Ridge savings bank; the run was caused by false rumors about the savings bank's president.

Description

Multiple contemporaneous newspaper reports (Aug 15–16, 1929) describe a run on the Brooklyn Trust Company triggered by false rumors (including that President Dr. Maurice Lewis was dead). Bank brought $14,000,000 in cash by armored truck, hired extra tellers and posted denials. No suspension, receivership, or permanent closure is reported in these articles.

Events (1)

1. August 15, 1929 Run

Cause: Rumor Or Misinformation
Cause Details: False rumors circulated (including that President Dr. Maurice Lewis was dead and unrelated stories about borrowing) that led depositors to rush and withdraw funds.
Random Run: Yes
Random Run Snippet: False rumors that president was dead; officials posted denials
Measures: Brought $14,000,000 in cash by armored truck; hired nine extra tellers (total 17); stationed attendants at doors and posted statements denying danger.
Newspaper Excerpt: FALSE RUMORS CAUSE RUN ON SAVINGS BANK ... they brought over $14,000,000 in cash they had had in the vault of the Brooklyn Trust Company.
Source: newspapers

Newspaper Articles (7)

1. August 15, 1929 The Jersey Journal Jersey City, NJ

Article from The Jersey Journal, August 15, 1929

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Article Text

BROOKLYN BANK (Continued) money Warned in advance by the ruofficials had to prepare. truck they cash they had had the Trust Company, and they tellers, take crowd. tellers handed out money fast as they amount that was paid out bank officials could not until the bank closed for the The false rumors that there was on the bank, institution been by money and began to circulate ser One most widely circulated rumor that Lewis, the was dead, anu had started the run. Dr. had gone in Connecticut have carbuncle removed from his summoned by wire and arrived at the bank yesterday Peter Smith attorney the and wanted $16,000 collateral, he turned have told that he went that had tried to borrow money our bank but hadn't get because we have believe that that statement about the we complete investigation and find officials first heard of the the run and out In an effort vent Joseph Broderick, State Super'n tendent Mr. letter, stating bank had found the stitution be in was posted at the bank trance. But failed to prevent the bank is no danger account of the officials Its sources and it has had surplus They help from the Brooklyn Trust Co., Bank friend Dr. and head Duffy Co., contractors.

2. August 15, 1929 Elmira Star-Gazette Elmira, NY

Article from Elmira Star-Gazette, August 15, 1929

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Article Text

FALSE RUMORS CAUSE RUN ON SAVINGS BANK New York, Aug. rumors that there was a run on Bay in Brooklyn started an actual run on the bank today and by noon 1,000 depostors had rushed in to draw out their money. Warned in advance by the false rumors, officials had time to prepare. In big armored truck they brought over $14,000,000 in cash they had had in the vault of the Brooklyn Trust Company. WIFE IS FOUND DEAD Chicago, Aug. body of Clarence Flener was found today near the place where he stabbed his wife to death yesterday. Flener apparently ended his life with the knife he had used to kill his estranged wife.

3. August 15, 1929 Orlando Evening Star Orlando, FL

Article from Orlando Evening Star, August 15, 1929

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Article Text

FALSE RUMORS START Institution Rushes $14,000,000 in Cash From Brooklyn Trust Co. in Armored Truck NEW YORK, Aug. rumors that there the Bank in Brooklyn started run today and noon 1,000 had rushed to draw out their money. Warned by the false rumors. officials had time to-prepare. big armored truck they brought from the Brooklyn Trust Company. and they hired nine extra tellers. take care the crowd. tellers handed out money fast they could. The false rumors were believed the institution to have been circulated by man who tried to borrow money and refused. The bank in no danger, officasserted. Its resources total and has had plus of

4. August 15, 1929 The Observer La Grande, OR

Article from The Observer, August 15, 1929

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Article Text

Brooklyn Trust company, and they hired nine extra tellers, making a total of 17, to take care of the crowd. The 17 tellers handed out money as fast as they could. The amount that was paid out could not be determined, bank officials said, until the bank closed for the day. Kinney are teachers In the Portland public schools.

5. August 16, 1929 Joplin Globe Joplin, MO

Article from Joplin Globe, August 16, 1929

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Article Text

Indirectly President Goes to Hospital, Rumors Spread Is Dead and Is Drawn Out Before Depositors Quiet of Are Brought in and Extra Paying Tellers Are Employed. New York, moned Dr. Lewis back by wire. buncle on the back of the Being warned, the bank's presiabout methodical way dent's neck indirectly helped take care the rush. They hired start today on the Ridge nine tellers. They stationed Savings bank Brooklyn. attendants the door hand Two thousand depositors rushed withdrawal slips the depositors. place before they had they brought from the quieted before Brooklyn Trust Company them, rather sheepishly, had armored truck that they back and reopened their had there. Police they had drawn out summoned to keep the milling Several days Dr. Maurice crowd order. Lewis, president, went hospital went smoothly, to have carbuncle body removed from the back his ting money, and from time False rumors circulated time Dr. Lewis read the crowd that he was dead and that his statements that the reassuring had caused the bank. there, that there money Rumors started the actual and that the bank danger, perfectly willing let them close addition, officials of the bank accounts they desired. today, had tried By closing time, the borrow $16,000 only $10,000 teen tellers had been collateral went nearby speak- from window to paying receivand said he had been unable window. money because the bank While the its short funds. other banks in the vicinity refused The heads the bank heard deposit that accept money about the rumors of several which had been drawn out of the days head they bank. Ridge to

6. August 16, 1929 Leader-Telegram Eau Claire, WI

Article from Leader-Telegram, August 16, 1929

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Article Text

Rumor Starts Run on Brooklyn Bank Associated NEW YORK, Aug. that there the Ridge savings bank in Brooklyn day started actual run bank and noon 1,000 had rushed to draw out their Warned in advance by the had time big armored truck they cash they had the vault the Brooklyn Trust company, and they hired nine extra tellers, total 17, the crowd. The 17-tells handed out money fast could. The that was could not be bank officials said, until the bank

7. August 16, 1929 Pensacola News Journal Pensacola, FL

Article from Pensacola News Journal, August 16, 1929

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Article Text

MILLIONS IN CASH MEET RUN Carbuncle On Man's Neck Is Indirect Cause Rumors NEW YORK, Aug. carbuncle on the back the neck indirectly helped today on the Bay Ridge ings bank in Brooklyn. The government also was informed Two thousand depositors rushed that Russia was troops along into place and, before they had the Amur toward the Sungari quieted before some of that Soviet had appeared them had back reopened river their had drawn out tirely territory. Entrench Several days ago Dr. Maurice The agency had Lewis, president, went hospital however, fighting reported Connecticut have carbuncle progress in the vicinity of Manchuli removed from the back of his neck. near the western border the False Rumors vince. Rango news agency False from Manchuli and that death night said the bank. Rumors counter fairly started curred here In addition, officials the bank The Chinese today, had tried shelter trench now borrow $16,000 on only $10,000 colposing. The telephone line, lateral went to nearby speakeasy for weeks has been the and said had been unable money because the bank Russia short funds. Chinese Determined heads moned appealed Joseph grant the demand banks. Russia that In Good railway to the status Broderick wrote which he stated that bank gotiations of the found the institution to be in pute. lent condition, and the bank offiquoted official the cials posted the entrance. But eign saying, excited depositors today rushed right situation along the Manchurian past Being the bank's frontier the officials set about methodical government is resolved not way take care of the rush. They its attitude nor to concede hired nine extra making viet demand. Any Soviet total of They stationed attendChinese territory will be ants the door hand out withforce drawal slips to the And they the Brooklyn Trust Company in truck CHINESE SEND $14,000,000 that they had in there. Police summoned keep the milling crowd in order. By closing one of the tellers had been transferred from paying Soldiers Go To window receiving window. In the meantime bank officials Border kept busy saying, thanks," other banks that offered help.