15436. Wayne County National Bank (Wooster, OH)

View Charter #828 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
828
Charter Number
828
Start Date
November 28, 1904
Location
Wooster, Ohio (40.805, -81.935)

Metadata

Model
gpt-5-mini
Short Digest
9a53b8c9f4586814

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected

Description

Newspaper accounts (dated Nov 29, 1904) report a threatened run on the Wayne County National Bank in Wooster on Nov 28, 1904 that was averted when H. C. Frick arrived with large sums of cash, bought the bank's paper, and reassured depositors. Another local bank's closing appears to have been the trigger; the bank did not suspend or close.

Events (2)
1. February 20, 1865 Chartered
Source
historical_nic
2. November 28, 1904 Run
Cause
Local Banks
Cause Details
Closing of another bank in town made a run possible; depositors threatened withdrawals.
Measures
H. C. Frick brought two valises/grips filled with currency, bought up the bank's paper, settled notes, and publicly stood in the bank to reassure depositors.
Newspaper Excerpt
Frick reached Wooster early ... He settled many notes and on Saturday morning smilingly took his place in the Wayne County Bank and told every one to bring on the run. The result was that there was no run on the bank.
Source
newspapers

Newspaper Articles (3)
1. November 29, 1904 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, November 29, 1904

Click image to open full size in new tab

Article Text

FRICK CHECKS "RUN" ON BANK Armed With Two Valises, Crowded With Currency, He Appeals for Trouble ACTION AVERTS PANIC Depositors of a Pennsylvania Institution Decide They Are Not in Danger Special Dispatch to The Call. PITTSBURG, Nov. 28.-A bank in Wooster went to the wall several days ago and the officers of the Wayne County National Bank of that place were somewhat worried, fearing a "run." Almost before they had their breakfasts on Friday morning a telephone message came from H. C. Frick asking what the situation was and whether they needed any money in case a "run" were started. The answer did not appear to be just what Frick had hoped for, so the multimillionaire gathered up two large grips filled with bills and in his automobile started for Ohio. Frick reached Wooster early and sent out word that all paper which the holders did not like should be brought in. He settled many notes and on Saturday morning smilingly took his place in the Wayne County Bank and told every one to "bring on the run." The result was that there was no "run" on the bank.

2. November 29, 1904 New-York Tribune New York, NY
Article from New-York Tribune, November 29, 1904

Click image to open full size in new tab

Article Text

H. C. FRICK PREVENTS RUN ON BANK. Goes to Rescue of Threatened Institution in an Automobile. [BY TELEGRAPH TO THE TRIBUNE.] Wooster. Ohio, Nov. 2S.-To H. €. Frick. of Pittsburg. his speedy automobile and his long purse the Wayne National Bank, of this town. probably owes its existence to-day. On Friday Mr. Frick came tearing from Pittsburg in his automobile with two grips of big bills to be ready for any run which might start on the bank. in which he is interested. He bought up all the bank's paper he could find on Friday, and on Saturday took his stand in the bank in order to be handy in case a run started, but the news got round that Mr. Frick was here with enough money to buy and sell the town. and there was no run. The closing of another bank in town made the run possible.

3. December 3, 1904 Chicago Eagle Chicago, IL
Article from Chicago Eagle, December 3, 1904

Click image to open full size in new tab

Article Text

News from All Parts of the World Carefully Selected from the Press Telegrams. A Weekly Digest of the Most Important Facts and Happenings for Busy Readers. To H. C. Frick of Pittsburg. his speedy RUIN WROUGHT BY PRAIRIE FIRE. automobile and his long purse the Wayne National Bank of Wooster, Ohio, is inBuildings, Hay and Winter Ranges debted for escaping a run. The other Around Harlem, Mont., Destroyed. day Mr. Frick came tearing from PittsA large prairie fire has been raging burg in his automobile, with two great for several days forty miles north of Hargrips full of big bills, to be ready for lem, Mont. Thousands of acres of grazany run which might start on the bank, ing lands have been swept over and in which he is interested. He bought up thousands of dollars' worth of property all the bank's paper he could find, and has been destroyed. George Peterie, a the next day took his stand in the bank prominent sheepman, whose range is in in order to be handy in case a run startthe devastated portion, is reported to ed, but the news got round that Mr. have lost all of his hay, his residence Frick was there with enough money to and all outbuildings. It is said the fire buy and sell the town and there was no started over the Canadian line, and durrun. The closing of another bank in ing the terrific windstorms of a few days town made the run possible. ago moved with startling rapidity over into the from