15179. Kingston Savings Bank (Kingston, NY)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
May 9, 1906
Location
Kingston, New York (41.927, -73.997)

Metadata

Model
gpt-5-mini
Short Digest
345fdd95

Response Measures

Public signal of financial health, Books examined

Description

Accountant Frank Johnson's suicide (May 9, 1906) prompted fears of a run; trustees asked for a state examination and enforced the 60-day notice rule as a precaution. A few withdrawals occurred but the trustees' solvent statement allayed the panic and the bank remained open. Classified as run_only because no suspension or closure occurred.

Events (1)

1. May 9, 1906 Run
Cause
Rumor Or Misinformation
Cause Details
Suicide of the bank's accountant sparked fears/rumors that he had misappropriated funds; officials denied any misuse and declared bank solvent.
Measures
Trustees requested immediate state examination; enforced 60 days' notice for withdrawals; public statement that bank was solvent; examiners called in.
Newspaper Excerpt
Fears that a run on the Kingston Savings bank will follow the suicide yesterday of Accountant Frank Johnson caused the trustees to-day to decide to ask the state banking department for an immediate examination of the bank's affairs.
Source
newspapers

Newspaper Articles (7)

Article from Waterbury Evening Democrat, May 9, 1906

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Article Text

FEAR RUN ON BANK. So Officials Have Asked State Department for an Accounting. Kingston, N. Y., May 9.-Fears that a run on the Kingston Savings bank will follow the suicide yesterday of Accountant Frank Johnson caused the trustees to-day to decide to ask the state banking department for an immediate examination of the bank's affairs. They decided meanwhile to enforce the rule requiring 60 days' notice in writing of intention to withdraw deposits. No reason for Johnson's suicide could be assigned by his family or friends yesterday. The bank officials issued a statement immediately afterward that his accounts there were all right and that it was impossible for him to have used the bank's moneys. Supreme Court Justice James A. Betts is president of the Kingston Savings bank.


Article from The Daily Morning Journal and Courier, May 10, 1906

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Article Text

ALLAYS FEARS OF RUN ON BANK Kingston, N. Y., Institution SolventAnnouncement by Trustees. Kingston, N. Y., May 9.-The fear of a run on the Kingston Savings bank following the suicide yesterday of Accountant Frank Johnson, which caused the trustees to-day to ask the state banking department for an immediate examination of the bank's affairs, appears to-night to have been allayed. The trustees' announcement that the bank was solvent seemed to have the desired effect. Superintendent Kilburn has sent word that bank examiners will be here within a day or two to investigate the bank's condition.


Article from Perth Amboy Evening News, May 10, 1906

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Article Text

Kingston Bank Is Solvent. KINGSTON. N. Y., May 10. - The fear of a run on the Kingston Savings bank following the suicide of Accountant Frank Johnson, which caused the trustees to ask the state banking department for an immediate examination of the 'bank's affairs, appears to have been allayed. The trustees' announcement that the bank was solvent seems to have had the desired effect.


Article from The Barre Daily Times, May 10, 1906

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Article Text

DON'T FEAR A RUN. On Kingston, N. Y., Savings Bank Whose Cashier Suicided. Kingston, N. Y., May 10.-The fear of a run on the Kingston Savings bank following the suicide Tuesday of Ac. countant Frank Johnson, which caused the trustees to ask the State banking department for an immediate examination of the bank's affairs, appears to have been allayed. The trustees announcement that the bank was solvent seedied to have the desired effect. Only twelve depositors gave notice of withdrawnl under the GO days' clause which was put in force as a precaution. Five depositors who withdrew their money Tuesday redeposited it yesterday. Superintendent Kilburn has sent word that bank examiners will be here with in a day or two to investigate the bank's condition.


Article from Waterbury Evening Democrat, May 10, 1906

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Article Text

Kingston Bank Is Selvent. KINGSTON, N. Y., May 10. - The fear of a run on the Kingston Savings bank following the suicide of Account. ant Frank Johnson, which caused the trustees to ask the state banking department for an immediate examination of the bank's affairs, appears to have been allayed. The trustees' announcement that the bank was solvent seems to have had the desired effect.


Article from Daily Kennebec Journal, May 10, 1906

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Article Text

CONDENSED DISPATCHES. Mohammedans of high rank residing Lamore, Punjab. British India, have at been notified that the Amir of Afghanistan, Habibullah Khon, will visit India next winter. In view of the political importance of the Amir's journey steps are already being taken to give him a fitting welcome. The Columbia Savings & Trust Co. of Pittsburg, Pa., closed its doors Wednesday by order of the commissioner of banking. William J. Diehl, former mayor of Pittsburg, and J. M. Volan, secretary and treasurer. The capital is $145,000: deposits $200,000; loans, $290,000: and surplus $6000. The New York state board of railroad commissioners have reported that the total number of cash fares collected on the surface. elevated and subway lines of Greater New York for the first three as months of 1906 was 297.339.165. against 260,277,915 for the corresponding quarter of 1905, an increase of 37,061,250. Investigation shows that the authorities of San Domingo were mistaken in believing that they discovered a plot May 6 to assassinate Pres. Caceres as he was leaving the theatre. The persons arrested in connection with the alleged conspiracy have been released. Quiet reigns in the city and its vicinity and business is improving. The soft coal and wood yards of A. L. Thomas, Beach street and Columbus by fire Wednesday. The flames also damaged a dozen small dwellings and the Cramer Iron Works. Two men who were sleeping in the stable of the coal yard are missing. Thirty-three horses were burned to death. The origin of the fire is unknown. The monetary loss is about $15,000. The signal corps of the United States army is photographing San Francisco ruins from balloons. A series of pictures is being taken to be kept on file by the war department in Washington. Several hundred pictures have already been taken of the different buildings and an order sent for three balloons so that a complete panoramic picture of the city can be had. The pillars supporting the second floor and roof of the rear part of a large new cigarette factory at Havana, belonging to Joseph Cener. collapsed Tuesday and of the 40 men and women working in that part of the factory half were caught in the falling debris. Six persons were taken out dead and a dozen more were injured. The dead and injured include cigarette makers and men who were at work in the building. Fears that a run on the Kingston Savings Bank of Kingston. N. Y., will follow the suicide Tuesday of Accountant Frank Johnson, caused the trustees Wednesday to decide to ask the state banking department for an immediate examination of the bank's affairs. They decided meanwhile to enforce the rule requiring 60 days notice in writing of intention to withdraw deposits. No reason for Johnson's suicide colid be assigned by his family or friends Tuesday. The bank officials issued a statement immediately afterward that his accounts were all right and that it was impossible for him to have used the bank's moneys. Supreme Court Justice Jaines A. Betts is president of the Kingston Savings Bank.


Article from New-York Tribune, May 10, 1906

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Article Text

RUN ON KINGSTON BANK STOPPED. Kingston, N. Y., May 9.-The fear of a run on the Kingston Savings Bank, following the suicide yesterday of Frank Johnson. the accountant, which caused the trustees to-day to ask the State Banking Department for an immediate examination of the bank's affairs. appears to-night ot have been allayed. The trustees' announcement that the bank was solvent seemed to have the desired effect. Only twelve depositors gave notice of withdrawal under the sixty days' clause, which was put in force as a precaution. Five depositors. who withdrew their money yesterday, redeposited it to-day. Superintendent Kilburn has sent word that bank examiners will be here within a day or two to investigate the bank's condition.