banks of Abraham Cass - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: December 2, 1914
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 51b60c35

Response Measures

None

Description

Newspaper (Dec 3, 1914) reports the three banks of Abraham Cass suspended 'yesterday' (Dec 2, 1914). The article describes ongoing suspension with no mention of reopening; I classify this as suspension leading to closure (no reopening reported). The immediate cause of the suspension is not stated in the excerpt.

Events (1)

1. December 2, 1914 Suspension

Cause Details: Article does not specify reason for the Cass banks' suspension; only reports they suspended and subsequent withdrawals from other banks followed.
Newspaper Excerpt: suspension of the three banks of Abraham Cass, continued without abatement today.
Source: newspapers

Newspaper Articles (1)

1. December 3, 1914 The Daily Telegram Clarksburg, WV

Article from The Daily Telegram, December 3, 1914

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Article Text

WITHDRAWAL Of Deposits from Private and Savings Banks is Begun by Foreigners in New York. (BY ASSOCIATED PRESS) NEW YORK, Dec. 3.-Withdrawals of deposits from private and savings banks on the East Side began by foreigners yesterday, a day after the suspension of the three banks of Abraham Cass, continued without abatement today. Two banks appear to be most affected by today's run. Each had taken steps over night to meet the situation. Each anounced that all depositors were free to withdraw accounts in full without giving sixty days notice. The only explanation of the run was a general feeling of uneasiness since the closing of the Cass banks. Crowds began to form in line at 2 o'clock this morning outside the two institutions which bore the brunt of today's run. When the doors were opened the line extended for several blocks. It was estimated that more than 1,500 depositors were waiting at each bank.