1581. City Bank Trust Company (Hartford, CT)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
May 31, 1930
Location
Hartford, Connecticut (41.764, -72.685)

Metadata

Model
gpt-5-mini
Short Digest
b0ede7bb

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions

Description

Two contemporary articles (May 28 and May 31, 1930) describe a two-day run on City Bank Trust Company driven by an unfounded rumor about a foreign woman unable to cash a check. The bank paid depositors, received cash assistance from other banks (including funds from New York and Boston), and weathered the run without suspending or closing.

Events (1)

1. May 31, 1930 Run
Cause
Rumor Or Misinformation
Cause Details
A story spread that a foreign woman could not cash a check and that the bank was going to close; investigation found the source unfounded.
Random Run
Yes
Random Run Snippet
False report woman couldn't cash check; rumor bank would close
Measures
Bank paid depositors in turn, received cash assistance from other banks and from New York and Boston; city officials and bankers spoke to calm the crowd; police managed the situation.
Newspaper Excerpt
The run on the City Bank started rather orderly but after while accentuated by story spreading to the East side that woman foreigner had been in the bank check and could not get it cashed the bank was going to close.
Source
newspapers

Newspaper Articles (2)

Article from The Journal, May 28, 1930

Click image to open full size in new tab

Article Text

HARTFORD Hartford May conditions were restored the City Bank Trust company today many depositors withdrawn part savings deposits during the four dollars With the the run which resulted investigation trace the source unfounded which caused the run well under-


Article from The Springfield Daily Republican, June 1, 1930

Click image to open full size in new tab

Article Text

HARTFORD BANK BREAKS RUN AND RAISES PRESTIGE Mob Psychology Flares For Two Days But Fails to Harm Institution POSTMASTER RESIGNS AFTER LONG STRUGGLE Harry K. Taylor Will Leave August Has Had to Fight Without Support of Party Organization From Our Special Correspondent Hartford. Ct., May 31-Hartford, the wealthy city, has experienced run on the bank. Happily it was on one our biggest and most substantial financial institutions, the City Bank Trust company. and the bank came through without ment and with renewed prestige. Under the was teresting study mob psychology. Pushing. pulling. milling around doors of the bank for two days this week was crowd 500 depositors, mostly Italian blood, frantic in their endeavors to withdraw their savings. And it all from spread of little following the closing recently of the D'Esopo bank where the positors will not get 100 cents on the dollar deposited. The run on the City Bank started rather orderly but after while accentuated by story spreading to the East side that woman foreigner had been in the bank check and could not get it cashed the bank was going to close. The foreigner could not get her check cashed true. she did not speak much English and there was one to identify her, but it said was her own that the bank was going to close. The bank close for two. days the surging decrowd of depositors paid its posits in turn as asked Run Halted Successfully Mayors past and present harangued confidence crowd and spoke in the the bank. Leading among the Italian colony tried to Shippee the run. the bank splendid city O. lent K:, their and other banks in the assistance, but still the run went on for two days, until the anxious, nervous, depositors that they could didu't get and then they money their want and the thinned. put the pacified Then some the bank withback in their money out taking million dollars in and real another money from New York had come to help the City from Boston million bank through the for cash and the mob psychology had no the last- potook ing damaging results. heads to handle reserves lice the situation at times. Hartford's substantial people stood by in fine hight style at its the run and with large deto the bank came posits. Postmaster Resigns Taylor has Harry K. Postmaster the was startling general resigned. public This which was of the opinspirited little ion that the through his secis scarcely fight to stay in ond term, Fenn is in Hart Congress. Mr Taylor was Congress- man Fenn's first secretary and was Mr Fenn's for the postmastership. He did not the indorsement the Republican town committee and he has not lain in political bed of roses. When his reappointment was so vigorously opposed by organized labor there no word out of town although the local Chamber of Commerce and the Manufacturers association to his support. Mr Taylor apparently did not mind playing lone hand and he has won in his contests with certain groups of postal employes, but he has had no smooth sailing the large staff at the Hartford Just what about his resigat this time has not been made clear the public. Once newspaper man himself, Mr Taylor will some day give out the news. His resignation comes just at the time when Clerks Harry A. Norton, Edward Lawton, Louis Lopinsky Anthony Yacavone and others suspended for short periods. Mr Tay. lor will Augut Grand Jury Holds Spotlight The June term of the court which comes in Tuesday, has docket of approximately 150 cases be presented by State's Hugh M. Alcorn. The chief interest in the March term over the expected report of the grand jury which has been conducting since January This grand jury been no respecter of persons, and it has quizzed bootleggers, bankers, policemen, big business heads, and the mayor, and its latest gesture was to have before John Ulrich of the Hartford he could tell about an liquor club May 10, following the horse show. General opinion is that the jury will conclude its duties next month. One of the most unique comes from East where Miss Lotta Ellis appealed fine fining dog did not belong to her. Miss Ellis for six months past year in trying by court otherwise prevent her pet dog Ruff from being killed by the town Ruff was finally executed, but Miss Ellie sure of it. and when dog closely resembling him ran into her yard made herself Ruff had returned The the visiting dog had great dimof him. New Roraback Rumor The report that Chairman J. Henry Roraback of the Republican state committee is going to retire from actice participation in state politics has rolled around again, just after Mr Roraback and Congressman Tilson were President Hoover's fishing party and said to have patched up political differences of long standing. The circulating no timation that Mr Roraback intends from the national committee, and there story that eyes have fallen on him as national More likely he looks forward to from the seething state politics which he has been in for many ever since struggling young ter up Canaan Litchfield county. well-to-do resident Hartford, victor in many political skirmish and campaign, head corporation and great power around 60 years age, Mr Roraback naturally would like, to turn over these state campaigns to Undoubtedly he will pick his else. question he knows the man for the place. Mr Roraback, according to reports, has been the point of retiring from state politics two or three times in recent years, something more came up that caused him to defer leadership to someone else's shifting shoulders. police departplaced taboo upon lunchclub meetings, soapbox orators and other attempts to gather public Meetings may be held by special permission, the police maintain few such gatherings are necessary. taxicabs here, many of them made in America, have added an umbrella in special compartment to their equipment. On rainy days the driver whisks the umrack and escorts his brella fare to the front door. Portugal's merchant fleet includes 169 large ton21 craft, with gross tage 239,637 tons. This much below the period. when the country acquired shipping for Portuguese expeditionary corps in France.