16424. Union National Bank (New Brighton, PA)

View Charter #4549 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
4549
Charter Number
4549
Start Date
October 30, 1907
Location
New Brighton, Pennsylvania (40.730, -80.310)

Metadata

Model
gpt-5-mini
Short Digest
b224615f008d67e6

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Contemporary accounts (Oct 30–31, 1907) describe a discrete run triggered by a misinterpreted garbage-dump sign shouted by a Hungarian woman. The run was caused by misinformation; the bank paid out in silver and depositors largely returned funds the next day. No suspension or closure is mentioned.

Events (2)
1. April 11, 1891 Chartered
Source
historical_nic
2. October 30, 1907 Run
Cause
Rumor Or Misinformation
Cause Details
A Hungarian woman misread a garbage-dump sign and shouted that the bank had 'no interest' and was 'no good,' causing foreign workmen to panic and withdraw coin.
Random Run
Yes
Random Run Snippet
Misread garbage sign caused false 'No interest at the bank' cry; corrected
Measures
Bank promptly paid depositors in silver; most depositors returned funds the next day.
Newspaper Excerpt
A Hungarian woman misinterpreted a garbage dump sign and running to a manufacturing plant shouted: No interest at the bank. Its no good. The foreign workmen... rushed to the bank. All were promptly paid in silver.
Source
newspapers

Newspaper Articles (2)
1. October 31, 1907 Daily Press Newport News, VA
Article from Daily Press, October 31, 1907

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Article Text

HUNS HAD TO TAKE OFF SHIRTS TO CARRY SILVER Ignorance Led to Run on New Brighton, Pa., Bank, But Depositors Returned Money. (By Associated Press.) NEW BRIGHTON, PA., Oct. 30.-A large* bulk of silver coin was taken back to the Union National Bank today by foreigners who panie stricken yesterday made a run on the institution. A Hungarian woman misinterpreted a garbage dump sign and running to a manufacturing plant shouted: "No interest at the bank. Its no good." The foreign workmen. hatless and coatless, rushed to the Lank. All were promptly paid in silver. Some of them had so much that they had to take off their shirts to make money bags. Today. nearly all took their money back after spending a sleepless night guarding it.

2. November 2, 1907 The Free Lance Fredericksburg, VA
Article from The Free Lance, November 2, 1907

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Article Text

Garbage Sign Caused Run On Bank. New Brighton, Pa., Oct. 31.-A large bulk of silver coin was taken back to the Union National bank by foreign. ers who, panic-stricken Tuesday, made a run on the institution. A Hungarian woman misinterpreted a garbage dump sign, and running to a manufacturing plant shouted: "No interest at the bank. It's no good." The foreign workmen, hatless and coatless, rushed to the bank. All were promptly paid in silver. Some had 80 much that they had to take off their shirts to make money bags. Wednesday nearly all took their money back after spending a sleepless night guarding it. it