15385. Bank of Pasquale Pati (New York, NY)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
private
Start Date
March 24, 1908
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
420fa611

Response Measures

Full suspension

Other: Run/suspension engineered by criminal organization (the 'Black Hand'); banker fled and posted notice claiming solvency and promising to resume in two weeks.

Description

Multiple contemporaneous newspaper reports (Mar 24–25, 1908) describe a run of ~3,000 depositors on Pasquale Pati's bank triggered by threats and deliberate agitation by the Black Hand, followed by suspension and the banker's flight. The published window notice promises resumption in two weeks, but no article here confirms an actual reopening or permanent closure; therefore outcome is uncertain. OCR variants in articles (spelling of names) were corrected (e.g., Francesco Pelletro/Palletro).

Events (2)
1. March 24, 1908 Run
Cause Details
Run allegedly engineered by the criminal Black Hand society to terrorize the banker after he shot an alleged member; threats caused depositors to demand savings.
Measures
Banker posted a notice on the window promising to suspend payment for two weeks and to resume thereafter; police reserves were called to quell disorder.
Newspaper Excerpt
ended dramatically today in a run of depositors and the suspension of the Bank of Pasquale Pati
Source
newspapers
2. March 24, 1908 Suspension
Cause Details
Owner fled the city in fear of death from Black Hand threats; suspension was effected amid the run and the banker's flight.
Newspaper Excerpt
I will suspend payment for two weeks... I will resume in two weeks. (Signed) Pasquale Pati and Son, Salvatore.
Source
newspapers

Newspaper Articles (7)
1. March 25, 1908 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, March 25, 1908

Click image to open full size in new tab

Article Text

BLACK HAND Responsible For Closing Of an Italian Bank. New York Banker Incurs Enmity and Run Is Started. Posts Remarkable Notice, Promising to Resume Soon. New York, March 24.-A malevolent plot worked out by members of the Black Hand in defiance of the authorities pressing hard upon their trail the police declare, ended dramatically today in a run of depositors on and the suspension of the Bank of Pasquale Pati, an Italian banker on Elizabeth street and his flight from the city in fear of death by the Black Hand because he recently shot and killed Fran'cisco Pelletro, one of their alleged members who had demanded money under the pain of killing the banker and family. Three thousand depositors clamored loudly at the Pati Bank today for their savings and in the excitement a run was started on the bank of F. Acritelli & Son across the street from the suspended institution and caused it to shut its doors. The two banks were small private institutions. The run on the Pati bank the police charge, was engineered by the Black Hand as a revenge on Pati, who was yesterday acquitted by the coroner of having killed Pelletro. When the run was at its height police reserves were rushed to the district to quell the fast rising disorder. Plastered on the window of Pati's bank the most remarkable notice of a suspension probably ever posted was read by hundreds today, after the bank closed its doors. It read: "I will suspend payment for two weeks. I am compelled to leave town, as I have received threatening letters and people have agreed to take my life. There are no fears of your losing your deposits. Besides cash I own 65 houses in New York and have them insured for $100.000 and can pay everybody. I will resume in two weeks. (Signed) "Pasquale Pati and Son, Salvatore." The closing of Pati's bank and his sud-

2. March 25, 1908 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, March 25, 1908

Click image to open full size in new tab

Article Text

Black Hand, Following Bomb Outrage. Starts Run On Italian Bank. INSTITUTION IS SOLVENT. Notice Posted on Window Makes Pecullar Announcement Respecting Causes for the Closing. New York, March 24-A malevolent plot. relentlessly worked out by members of the Black Hand, declare the police, in deflance of the authorities pressing hard upon their track, ended dramatically today in a run of depositors and the suspension of the bank of Pasquale Pati, an Italian banker on Elizabeth street, and his flight from the city in fear of death, threatened by the Black Hand because he recently shot and killed Francesco Pelletro. one of their alleged members, who had demanded money under the pain of killing the banker and his family. STARTED BY BLACK HAND. Three thousand depositors clamored loudly at the Pati bank today for their savings and, in the excitement a run was started on the bank of F. Acritel11 & Son. across the street from the suspended institution. and caused It to shut its doors. The two banks were small private institutions. The run on the Pati bank. the police charge, was engineered by the Black Hand as a. revenge on Pati, who was yesterday acquitted by the coroner's jury of having killed Pelletro. When the run was at its height police reserves were rushed to the district to quell the fast rising disorder. BANK IS SOIVENT. Plastered on the window of Pati's bank the most remarkable notice of a suspension probably ever posted was read by hundreds after the bank closed its doors. It read: "I will suspend payment for two weeks. I am compelled to leave town, as I have received threatening letters and people have attempted to take my life. There are no fears of your losing your deposits, Beside cash, I own 65 houses in New York, and have them insured for $100,000. and can pay everybody. I will resume in two weeks. (Signed) NOTEAT DATE a SOME

3. March 25, 1908 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, March 25, 1908

Click image to open full size in new tab

Article Text

New York, March 24.-A malevolent plot relentlessly worked out by members of the "Black Hand," declare the police, in defiance of the authorities pressing hard upon their track, ended dramatically today in a run of depositors and the suspension of the Bank of Pasquale Pati, an Italian banker, on Elizabeth street, and his flight from the city in fear of death, threatened by the "Black Hand" because he recently shot and killed Francesco Palletro, one of their alleged members, who had demanded money under the protection of killing the banker and his family. Three thousand depositors clamored loudly at the Pati bank today for their savings and in the excitement a run was started on the bank of Faoritelli & Son, across the street from the suspended institution, and caused it to shut its doors. The two banks were small i rivate institutions. The run on the Pati bank, the police charge, was engineered by the "Black Hand" as a revenge on Pati, who was

4. March 25, 1908 Bismarck Daily Tribune Bismarck, ND
Article from Bismarck Daily Tribune, March 25, 1908

Click image to open full size in new tab

Article Text

BLACK HAND CAUSES RUN ON DAGO BANK Failed Several Times to Rob the Bank and Murder Owner They Then Scared Depositors and Suspension of Bank Followed The Banker Threatened With Death Seeks Safety in Flight New York, N. Y., March 24.-A malevolent plot, relentlessly worked out by the members of the Black Hand, declare the police, in defiance of the authorities, who are pressing hard upon their track, ended dramatically today in a run of depositors and the suspension of the bank of Pasquale Pati, an Italian banker on Elizabeth street, and his flight from the city in fear of death, that was theratened by the Black Hand, because he recently shot and killed Francisco Peletro, one of their alleged members, who had demanded money under pain of killing the banker and his family. Three thousand depositors clamored at the Pati bank today for their savings and in the excitement a run was started on the Bank of Acriteli and Sons, across the street from the suspended institution, and caused it to shut its doors. The banks were small private institutions. The run on the Pati bank, the police charge, was engineered by the Black hand as a revenge on Pati, who was yesterday acquitted by the coroner of having killed Peletro. Plastered on the windows of the Pati's bank is the most remarkable notice of suspension probably ever posted and was read by hundreds after the bank closed its doors. It read: "I will suspend payment for two weeks. I am compelled to leave town as J have received a threatening letter and people have attempted to take my life. There are no fears of your losing your deposits. Besides cash, I own 65 houses in New York and have them insured for $100,000 and can pay everybody. I will resume in two weeks. Pasquale Pati & Son, Salvator." It was Pati's custom to keep large piles of American and Italian money in the front of the window of his bank and six weeks ago a dynamite bomb exploded near the tempting window. Glass was shattered and thousands of dollars in paper money was scattered about the street. Pati succeeded in recovering all the money. Three weeks ago Francisco Pelletro entered Pati's bank and with a drawn` revolver, (Continued on page 8.)

5. March 25, 1908 The Bennington Evening Banner Bennington, VT
Article from The Bennington Evening Banner, March 25, 1908

Click image to open full size in new tab

Article Text

BLACK HAND PLOT MADE THE BANK SHUT UP Another Kind of Trouble in the Italian Colony I BANKER WAS THREATENED He Had Shot One of the Black Hand Leaders Who Had Demanded Money. New York, March 24.-A malevolent plot relentlessly worked out by members of the Black Hand, declare the police, in deflance of the authorities pressing hard upon their trail ended dramatically today in a run of depositors and the suspension of the bank of Pasquale Pati, an Italian bank er on Elizabeth street and his flight from the Black Hand because he recently shot and killed Francesco Pellotro, one of their alleged members who had demanded money under the pain of killing the banker and family. Three thousand depositors clamored loudly at the Pati bank today for their savings and in the excitement a rua was started on the bank of F. Acritelli & Son across the street from the suspended institution, and caused it to shut its doors. The two banks were small private institutions. The run on the Pati bank the police charge was engineered by the Black Hand as a revenge on Pati who was yesterday acquitted by the coroner of having killed Pelletro. When the run was at its height, police reserves were rushed to the district to quell the fast rising disorder.

6. March 25, 1908 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, March 25, 1908

Click image to open full size in new tab

Article Text

Attempts to Revenge Itself on Rich Italian New York Banker for His Deed. HAS FLED FROM THE CITY. PASQUALE PATI CANNOT BE FOUND AND THE SUSPENSION OF BUSINESS IS THE CAUSE OF HIS ACTION. New York, March 25.-The worldfamous "Black Hand" society, according to the police, has lain aside the dagger and other death-dealing missives and has worked out another plot to terrorize rich Italians of the city. The new plan of action, as unfolded by the police, is characteristic of the daring and cunning of the leaders of this death-dealing organization. In defiance of the officers, who have been pressing leaders of the band. a dramatic run of the depositors was started yesterday on the bank of Pasquale Pati, a rich Italian, of Elizabeth street. His bank was forced to suspend and he has fled from the city. In addition to the run on the bank Pati had been threatened with death because he recently shot and killed Francesco Pelletro, one of their alleged members, who had demanded money under the pain of killing the banker and his family. Depositors Clamor Loudly. Three thousand depositors clamored loudly at the Pati bank today for their savings, and in the excitement a run was started on the bank of F. Aoritelli & Son, across the street from the suspended institution. and it was forced to shut its doors. The two banks were private. institutions. The run on the Pati bank, th police charge, was engineered by the Black Hand as a means of revenge on Pati, who was yesterday acquitted by the coroner of having killed Pelletro.

7. March 26, 1908 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, March 26, 1908

Click image to open full size in new tab

Article Text

dential neket. The temporary injunction recently issued against the American Federa. tion of Labor by the District of Columbia supreme court in favor of the Buck Stove and Range company has been made perpetual. A series of mysterious hotel robberies on the Riviera. extending over many years. has been explained in the arrest at Nice of the beautiful. dashing. but masquerading Countess of Monteil. Wednesday, March 25. Drury Lane theatre. London. was completely destroyed by fire. The Drury Lane theatre was originally a cockpit and was converted into a the. atre in the reign of Charles I. The attitude of the Haytien government is becoming more conciliatory, apparently with the Intention of accelerating the departure of the foreign warships from Port Au Prince. Rev. Peter Chang. said to be the first Chinese Catholic priest to visit this country. arrived at New York. A coroner's jury declared Chief of Police Shippy of Chicago and J. F. Foley. his driver. to have been justified in killing Lazarus Averbuch. who attacked the chief in his home recently. It is reported that the indisposition from which King Leopold has been suffering for some time past has taken a serious turn. The battleship fleet will visit China, as well as Australia and Japan. and will be home on Washington's birth. day. 1909. A malevolent plot, relentlessly worked out by members of the Black Hand. the police declare. ended in : run of depositors on and the suspen sion of the bank of Pasquale Pati, as Italian banker at New York. John W. Stewart of Middlebury, for mer governor of Vermont. was DD pointed by Governor Proctor to All the vacancy caused by the recent death of Senator Redtield Proctor. Stewart has accepted.