Prospect Park Bank - Brooklyn, NY

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: October 27, 1907
Location: Brooklyn, New York (40.660, -73.951)

Metadata

Model: gpt-5-mini
Short Digest: 797a01a2

Response Measures

Public signal of financial health

Description

Article (1907-10-27) reports a slight run on Prospect Park Bank; bank issued a public statement of solvency and assets. No suspension, reopening, or receivership mentioned. Cause not specified in article, so coded as 'other'.

Events (1)

1. October 27, 1907 Run

Cause Details: Article does not specify a cause for the slight run.
Measures: Bank issued a public statement asserting solvency; disclosed over 60% of deposits in cash and assets on deposit with other banks.
Newspaper Excerpt: Prospect Park Bank of Brooklyn, on which there was a slight run today, made the first statement concerning the bank's condition.
Source: newspapers

Newspaper Articles (1)

1. October 27, 1907 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, October 27, 1907

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Article Text

Prospect Park Bank of Brooklyn, on which there was a slight run today, made the first statement concerning the bank's condition. "We have in cash and constantly available assets on deposit with other banks, over 60 per cent of our total deposits," he said. "The bank is absolutely solvent and can pay its depositors dollar for dollar." The National City Bank announced this afternoon that its total gold engagements in Europe and South America today were $5,000,000. This did not Include any part of the South African gold due to arrive in London Monday.