16056. First National Bank (Barnesboro, PA)

View Charter #5818 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
5818
Charter Number
5818
Start Date
October 28, 1903
Location
Barnesboro, Pennsylvania (40.663, -78.780)

Metadata

Model
gpt-5-mini
Short Digest
304c8c0319905d4d

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected

Description

Multiple newspapers report on Oct 28–29, 1903 that foreign coal miners, misreading a theatre poster advertising the play A Run on the Bank, hurriedly withdrew funds. The run was met without inconvenience because miners placed funds with local coal operators (Barnes & Tucker) who returned the cash to the bank.

Events (2)
1. May 15, 1901 Chartered
Source
historical_nic
2. October 28, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
Miners misinterpreted a theatrical poster advertising the play A Run on the Bank as indicating the First National Bank had failed, prompting withdrawals.
Random Run
Yes
Random Run Snippet
Theatre poster A Run on the Bank misread as bank failure
Measures
Coal operators Barnes & Tucker accepted miners' savings for safekeeping and then redeposited cash back into the bank, allowing the bank to meet withdrawals.
Newspaper Excerpt
A Run on the Bank ... Foreign coal miners thought it meant a run on the First National Bank, and they hurried to get their money out.
Source
newspapers

Newspaper Articles (5)
1. October 29, 1903 The Washington Times Washington, DC
Article from The Washington Times, October 29, 1903

Click image to open full size in new tab

Article Text

THEATRICAL POSTER CAUSES RUN ON BANK BARNSBORO, Pa., Oct. 29.-"A Run on the Bank" is the title of a play which is to appear here. The town is well posted with play bills. Foreigners read these and imagined the run would be on the First National Bank and they began taking their money out. Nearly every foreign miner had obtained his cash Tuesday. The bank stood the run with. out inconvenience owing to assistance given by Barns & Tucker, coal opera. tors. Many of the miners deposited their money with the firm and the cash was dumped back into the bank again.

2. October 29, 1903 New-York Tribune New York, NY
Article from New-York Tribune, October 29, 1903

Click image to open full size in new tab

Article Text

ENDLESS CHAIN SAVES BANK. Miners, Frightened by Theatre Poster, Start "A Run on the Bank." [BY TELEGRAPH TO THE TRIBUNE.] Barnsboro, Penn., Oct. 28.-"A Run on the Bank" is being advertised at the local theatre. Foreign coal miners thought it meant a run on the First National Bank, and they hurried to get their money out. A majority took their savings to Barnes & Tucker, coal operators, for safe keeping. The operators took it back to the bank again, which saved the institution.

3. October 29, 1903 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 29, 1903

Click image to open full size in new tab

Article Text

"A Run on the Bank." Barnsboro, Penn., Oct. 29.- "A Run on the Bank" is being advertised at the local theatre. Foreign coal miners thought it meant a run on the First National Bank, and yesterday they hurried to get their money out. M majority took their savings to Barnes sb Tucker, coal operators, for safe keeping. The operators took it back to the bank again, which saved the institution.

4. October 29, 1903 The Sun New York, NY
Article from The Sun, October 29, 1903

Click image to open full size in new tab

Article Text

A REAL RUN ON THE BANK. Theatrical Poster Causes Exeltement Among Foreign Miners in Barnsboro, Pa. BARNSBORO, Pa., Oct. 28.-Foreign coal miners saw posters announcing the play "A Run on the Bank," and suspected that the First National Bank was the bank meant. They started a run in earnest, which the bank was able to meet with the assistance of Barnes & Tucker, the local coal operators. Many of the foreigners took their money to the firm, to have it taken care of. The cash was replaced in the bank and paid out several times

5. November 5, 1903 The Columbian Bloomsburg, PA
Article from The Columbian, November 5, 1903

Click image to open full size in new tab

Article Text

A Real Run On the Bank. Foreign coal miners saw posters announcing the play, "A Run on the Bank," at Barnsboro, Pa., on Wednesday, and suspected the First National bank was the bank meant. They started a run in earnest, which the bank was able to meet with the assistance of Barnes & Tucker, the local coal operators. Many of the foreigners took their money to the firm, to have it taken care of. The cash was replaced in the bank and paid out several times.