Central Mercantile Bank

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: January 1, 1927*
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 273e815d

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Article (The Philadelphia Inquirer, 1927-04-23) describes a 'terrific run on the Broadway Central Bank last January' and that the bank's president (C. Stanley) stepped forward with about $2,000,000 in cash to stay the storm in a few hours. No suspension, receivership, or reopening is mentioned — only a run and an internal cash infusion. Cause of the run is not specified in the text.

Events (1)

1. January 1, 1927* Run

Cause Details: Article does not specify a trigger for the January 1927 run; described only as a 'terrific run'.
Measures: President (C. Stanley) advanced/put up about $2,000,000 in cash to 'stay the storm' and stabilize the bank.
Newspaper Excerpt: who had the courage, during terrific run on the Broadway tral Bank last January, step forward, over the tottering tion. rush $2,000,000 cash, and stay the storm in few hours.
Source: newspapers

Newspaper Articles (1)

1. April 23, 1927 The Philadelphia Inquirer Philadelphia, PA

Article from The Philadelphia Inquirer, April 23, 1927

Click image to open full size in new tab

Article Text

AS MONEY RATES FALL MARKET VALUES RISE Preferred Presidency of a $3,000,000 Bank to Vice Presidency of a $300,000,000 Institution: Young Financier Chose Chance for Expansion; Developments and Prospects in the South By B. FORBES ONEY is lower and stocks are higher Some industries are doing M better; Railway going full steam At them far But too far one direction before goes going into When does, the return journey sometimes is sensationally swift and youth arrived in New York and as bank He filled the well, In time he became vice president of Then he did He left the bank charge of not quite three years ago What do you think his has become is now better than instead of a single banking place, now has half only one of which has been and is about to move its the teenth street section Fifth avenue, York, to the street section. Probably no other bank in America can show 1600 per cent. growth in less than three man who has this record is C. Stanley president the Central Mercantile Bank. He is only was who had the courage, during terrific run on the Broadway tral Bank last January, step forward, over the tottering tion. rush $2,000,000 cash, and stay the storm in few hours. That has of his Brains, work, enterprise, courage, plus winning personality, have done And there is plenty of room for other young to forge to the front in every city in America. Jesse H. Jones, Southern capitalist, newspaper hotel owner and power, on North week, brings and of the Houston territory "The port of Houston growing rapidly,' Mr Jones remarked to and satisfactory We are affected by the overproduction oil the drop in oil prices. We plenty of labor. Building has béen very active and the prospects are for good amount of building during the rest the Mr. Jones one of the many who have fortunes real He has always great believer erecting big buildings. Thanks to him, Houston promises become city of buildings. Another visitor from the Southland brings reassuring W Young, the founder and upbuilder of Hollywood, Florida Says Mr Young: "In my opinion the substantial and developments in Florida have hit the bottom. The water has been squeezed out and real constructive progress may now be expected. "We are busy developing our world port at Hollywood, spending millions on it. cannot fail prove great benefit entire Progress being made arranging to bring harbor and will create payroll all the year round. This will help Southern Florida especially." Here's good example for executives: Philip G. Gossler, president of the Columbia and Electric writes letter every month to his 60,000 stockholders, them full information garding earnings and the system's assets. He has written this monthly letter regularly for the last four years. it any that Professor Ripley, although he had very harsh things say of many public utilities, had nothing praise for Colum- bia Gas?