Mercantile Bank - New York, NY

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 22, 1927
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: c3f0852a

Response Measures

Capital injected

Other: Run ended when the Mercantile Bank was sold to new owners (capital injection/ takeover).

Description

Newspaper (Jan 22, 1927) describes a sensational story about thefts that led to a run on the Mercantile Bank in New York that continued for about two weeks with over two million dollars withdrawn; the run ended when the institution was sold. OCR is garbled but meaning is clear. The article does not explicitly state a formal suspension or receivership, but the run culminated in sale/closure, so classified as run leading to suspension/closure.

Events (2)

1. January 22, 1927 Other

Newspaper Excerpt: The run ended when the institution the Mercantile Bank was sold the institution was sold.
Source: newspapers

2. January 22, 1927 Run

Cause: Bank Specific Adverse Info
Cause Details: Sensational newspaper account of large thefts at the bank triggered depositor withdrawals.
Newspaper Excerpt: Sensational Story on Amount of Thefts Leads to Run on Institution...the run continued for two weeks...more than two million dollars deposits were withdrawn.
Source: newspapers

Newspaper Articles (1)

1. January 22, 1927 Dayton Daily News Dayton, OH

Article from Dayton Daily News, January 22, 1927

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Article Text

BANKER'S DEATH DUE TO GRIEF Sensational Story on Amount of Thefts Leads to Run on Institution. turned 54 acres of she NEW YORK, Jan. land for the used car. The death Frank Williams, president of the Broadway Cenwas generally ascribed BILL today to grief over run on the bank. sensational newspaper ac- Measure. Backed by Women Vot. count of the amount of the thefts ers, to Be Introduced. three was blamed by bank officials for the run that Jan. continued for two about two bill providing for permanent weeks During the run more drafted sponthan million dollars deposits sored by the Ohio League were withdrawn. The run ended Women will be when the sold the insti- in the legislature next week. tution the Mercantile Bank was Miss chairman the efficiency in Trust committee of the state league, discussing the subject NINE MINERS INJURED registration at permanent WILKESBARRE, Pa., Jan. meeting of the Cincinmine workers were nati of Women Voters League as result of jured today.