Merchants National Bank

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 2619
Charter Number: 2619
Start Date: January 23, 1922
Location: Dunkirk, New York (42.480, -79.334)

Metadata

Model: gpt-5-mini
Short Digest: 016707b2

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected

Description

Two newspaper reports (Jan 23, 1922) describe a run on Merchants' National Bank in Dunkirk caused by unfounded rumors. Bank met withdrawals, Marine Trust of Buffalo sent $320,000 and many depositors redeposited funds. No suspension or closure is mentioned.

Events (1)

1. January 23, 1922 Run

Cause: Rumor Or Misinformation
Cause Details: Unfounded rumors prompted smaller/foreign depositors to withdraw funds; rumors proved false.
Measures: Paid every depositor who asked for money in full; Marine Trust Company of Buffalo sent $320,000 to shore up reserves, which encouraged redeposits.
Newspaper Excerpt: A run was made today on the Merchants' National bank, due to unfounded rumors. Virtually all the accounts withdrawn were those of foreigners, the smaller depositors. Every depositor who asked for his money was paid all. The Marine Trust company, of Buffalo, sent $320,000 here.
Source: newspapers

Newspaper Articles (2)

1. January 24, 1922 Albuquerque Morning Journal Albuquerque, NM

Article from Albuquerque Morning Journal, January 24, 1922

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Article Text

UNFOUNDED RUMORS START RUN ON BANK (By The Associated Press.) Dunkirk, N. Y., Jan 23.-A run was made today on the Merchants' National bank, due to unfounded rumors. Virtually all the accounts withdrawn were those of foreigners, the smaller depositors. Every depositor who asked for his money was paid all. The Marine Trust company, of Buffalo, sent $320,000 here. At the sight of the large pile of money many of the depositors who had withdrawn their money re-deposited it. The Merchants' National bank is a member of the federal reserve.

2. January 24, 1922 Bisbee Daily Review Bisbee, AZ

Article from Bisbee Daily Review, January 24, 1922

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Article Text

Run Made on Bank Following Rumors That Prove False DUNKIRK, N. Y., Jan. 23.-A run was made today on the Merchants National Bank due to unfounded rumors. Virtually all the accounts withdrawn were those of foreigners, the smaller depositors. Every depositor who asked for his money was paid all. The Marine Trust Company of Buffalo, sent $320,000 here. At the sight of the large pile of money, many of the depositors who had withdrawn their money re-deposited it. The Merchants National Bank is a member of the federal reserve.