Other: Bank employed detectives to investigate and identify those spreading malicious rumors.
Description
Newspapers report a run on First National Bank of Duquesne on Nov 14, 1903 triggered by maliciously circulated stories among millworkers; money was largely replaced and no suspension or closure is mentioned.
Events (2)
1.April 20, 1892Chartered
Source
historical_nic
2.November 14, 1903Run
Cause
Rumor Or Misinformation
Cause Details
Maliciously circulated stories among foreign mill workers alleged problems at the bank and prompted heavy withdrawals.
Measures
Employed detectives to trace origin of reports; merchants came to the bank's aid; most withdrawn funds were replaced.
Newspaper Excerpt
Believing stories were circulated against their institution among the foreigners in the mills with malicious intent, the directors of the First National Bank have employed detectives to learn the origin of reports that resulted in a run on the bank. Tuesday afternoon a total of about $40,000 was withdrawn from the bank. most of which was replaced yesterday.
Source
newspapers
Newspaper Articles (2)
1.November 15, 1903The Washington TimesWashington, DC
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Article Text
DUQUESNE INSTITUTION INVESTIGATES A RUN DUQUESNE, Pa., Nov. 14.-Believing stories were circulated against their institution among the foreigners in the mills with malicious intent, the directors of the First National Bank have employed detectives to learn the origin of reports that resulted in a run on the bank. Tuesday afternoon a total of about $40,000 was withdrawn from the bank. most of which was replaced yesterday. The merchants, when they heard of the run, came to the bank's ald.
2.November 17, 1903The Stark County DemocratCanton, OH
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Article Text
RUN ON A BANK Said to Have Been Started Through Malice- Officials Trying to Run Guilty Ones to Earth. Pittsburg Nov. 13-A run was started on the First National bank of Duqnesne, several days ago. The bank officials employed detectives to ascertain who started talk about the bank's condition so as to prosecute them for maliciousness. During the run last Tuesray afternoon, $40,000 was taken by foreigners. In the mad rush one woman left her baby at home to get her money. Returning she found her baby drowned in wash tub. a
