National Bank of the Republic

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 1000
Charter Number: 1000
Start Date: May 15, 1884
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 9e55c4df

Response Measures

Accommodated withdrawals

Description

Article (New-York Tribune, 1884-05-15) describes rumors after the Metropolitan National failure and a suspended banking firm which produced some withdrawals/lines at the paying desk but no suspension; bank remained open and officials reassured the public.

Events (1)

1. May 15, 1884 Run

Cause: Local Banks
Cause Details: Rumors spawned by the Metropolitan National's misfortune and the suspension of Donnell, Lawson & Simpson led depositors to approach the bank.
Measures: Vice-president and president supervised paying desk and publicly reassured customers that the bank was strong and able to meet all demands.
Newspaper Excerpt: rumors became prevalent that the National Bank of the Republic must also close its doors. There was not, however, enough of belief in the stories to cause any great run on the concern, although a steady line of men and boys approached the paying teller's desk all day long.
Source: newspapers

Newspaper Articles (1)

1. May 15, 1884 New-York Tribune New York, NY

Article from New-York Tribune, May 15, 1884

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Article Text

THE BANK OF THE REPUBLIC STRONG. George E. Simpson, of the suspended banking firm of Donnell, Lawson & Slmpson. is one of the directors of the National Bank of the Republic. Customers of the suspended firm were aware that it had been doing business both with the Metropolitan National and with the National Bank of the Republic. Immediately after the announcement of the Metropolitan's misfortune and that of the firm of Donnell, Lawson & Simpson, -rumors became prevalent that the National Bank of the Republic must also close its doors. There was not, however, enough of belief in the stories to cause any great run on the concern, although a steady line of men and boys approached the paying teller's desk all day long. Vice-President Orson Adams, who was actively superintending the work at this desk, said to a TRIBUNE reporter in the afternoon: The bank is as sound as a dollar. There is no cause for any anxiety about us. Donnell, Lawson & Simpson had a loan here on account, but it is secured with collaterais worth three times the amount borrowed. After banking hours John J. Knox, the new president of the bank. said: There is absolutely no trouble here. We are strnog, and able to pay everything, to meet every demand.