16867. Merchants National Bank (Plattsburg, NY)

View Charter #3174 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
3174
Charter Number
3174
Start Date
May 12, 1931
Location
Plattsburg, New York (44.699, -73.453)

Metadata

Model
gpt-5-mini
Short Digest
91763bfe

Response Measures

Borrowed from banks or large institutions, Public signal of financial health

Description

Multiple contemporaneous accounts (May 12–18, 1931) report a threatened run on the Merchants National Bank in Plattsburgh that was halted when $1,000,000 in cash/securities was flown from Albany. There is no mention of a suspension, receivership, or permanent closure in the articles. OCR errors in some articles (e.g., MerchNational and Merch nts) were corrected to Merchants National Bank.

Events (3)
1. May 5, 1884 Chartered
Source
historical_nic
2. May 12, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Depositors alarmed by reports about the bank led to heavy withdrawals; accounts mention 'alarming reports' and a threatened run but do not cite solvency revelations.
Measures
Bank officials borrowed cash from Albany banks; an airplane transported about $1,000,000 in cash and securities under guard to the bank to meet withdrawals and halt the run.
Newspaper Excerpt
airplane carrying $1,000,000 ... halted a run on the Merchants National Bank at Plattsburgh.
Source
newspapers
3. June 24, 1931 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (6)
1. May 12, 1931 Tyrone Daily Herald Tyrone, PA
Article from Tyrone Daily Herald, May 12, 1931

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Article Text

FACES FIRST REAL CRISIS IN OUTBREAK Martial Law Declared in Seville as Rioters Burn Churches; Violence Spreading COMMUNIST INFLUENCE PLANE SAVES BANK Albany, May (INS) airplane carrying took off from Albany airport today bound for Plattsmoney had been borrowfrom Albany banks, transported across city under heavy guard state and bank police, and turned over the MerchNational bank at Plattsburg. The Plattsburg bank officials get the money to their sought before opened an fort threatened developed. The threatened night more than $250,000 By Thomas Loayza Staff Madrid, May 12 already force in extended Seville today when out the Catholic burning five more to the ground in an unrestrained violence. Troops immediately called their garrisons stand guard over the ancient city, long religious center. The outbreak occurred this morning. mob of demonstrators. defying polico guards, fire Capucine convent, Carmelite convent, school, convent church All were completely destroyed, the firemen confining their activities to preventing spread of the flames. Destruction of second church by fact oters were unable to break in massive doors Angered over the failure their plan, crowd then largest most beautiful churches in the appalled nt the Spectators, stepped and dissuaded the rioters from their intention stroying edifice appealing cessfully them spare it as national monument The crowd of demonstrators and who had filled streets since early morning hours tered heavily armed troops took possession city, setting up detachments before church buildings, as had been done Madrid. Intense indignation was expressby the general populace over ments hold the alleged of for mitting the destruction to the place. The rioting mobs the lowest class, of rabble influenced slightly by parently who have taken munist propaganda, the present situation demonstrate attempt to throw sentiments country into anarchy. Under bristling guns of the drawn swords fantry alrymen, Madrid was quieted during hours today. Most the the early returned to their tasks. workers

2. May 12, 1931 The St. Louis Star and Times St. Louis, MO
Article from The St. Louis Star and Times, May 12, 1931

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Article Text

RUN ON BANK THREATENED SENT BY PLANE ALBANY N May N. plane took off from Albany Air today for The reorganized Merchants National Bank at Plattsburgh the money from Albany banks to withstand threatened run.

3. May 12, 1931 Evening Express Portland, ME
Article from Evening Express, May 12, 1931

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Article Text

Plane Rushes Million To Stem Run On Bank ALBANY May 12. airplane carrying cash took off Albany today The money had been borrowed from Albany banks across the city under heavy guard of state and and turned over officials the reorganized Merchants National Bank Plattsburgh Plattsburgh officials sought get the money to their bank before opened in an effort withstand threatened run developed The run Saturday night more than $230.00 was withdrawn

4. May 13, 1931 The Commercial Appeal Memphis, TN
Article from The Commercial Appeal, May 13, 1931

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Article Text

BANK SAVED BY PLANE. Million Dollars by Air Halts Run On Institution. der indictments ranging from kidnaping to carrying concealed lying woundin an Albany again today with four gang. for violate the liquor laws and operating unlicensed still Greene PLATTSBURG. N. May airplane $1,000,000 in cash and securities Named with Diamond were Paul here from Albany and Quattrocci, Diamond's henchheavy from man: John Merchants National Bank Tony and Louis Doe. began last Saturday The gives that Officials the bank will tonight that the arrival of support charges money resulted most of forth long withdrawn being rede. the conspiracy posited. the sum had been withdrawn for and and transporting depositors who alarmed ing reports the bank. Unable to meet the their cash Federal bank officials appealed the Reserve, which ranged the

5. May 16, 1931 St. Croix Avis Christiansted, VI
Article from St. Croix Avis, May 16, 1931

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Article Text

CHICAGO TRIBUNE'S R. C.A NEWS SERVICE By cour tesy of the Chicago Tribune Received at the Naval Radio Station May 14, 1931. Southport, Eng:-Four Americans finished among'the leaders in the first round of professional golf tournament. Horton Smith with 72 was in second place. Other U. S. golfers were Joe Kirkwood 72, Tony Manero and Joe Turnesa, 75 each. Henry Cotton's 70 won first place. Smith's score made in a rainstorm. The first round ends Thursday. Finals on Friday. Mexico 'City:-Two retired generals and several other former army officers were arrested and charged with a plot to assassinate President Rubio and over throw the Government. New York: On Friday King Krajahipok of Siam will tune in on the radio program his own country which will be imported by the National Broadeisting Company His Majesty is recuperating rapidly from a cataract operation. Boston: Custom Guards seized a run runner and a crew of twenty two as they were unloading a thousand cases of 11quors at the munieipaldock. Syracuse. -Arriving here to visit her daughter, Mrs Gladys Bryan, whom she had not seen for ten years, Mrs Adı Mann of Torquay and Monte Carto could only see her grave Mrs. Bryan had died while her mother was on the ocean. Plattsburg, N. Y:-A million dollars brought from Albany by airplane halted a run on the Merch nts National Bank New York: Broadway was surprised by the news that Joe Cook, star of "Fine and Dandy" had divorced his wife secretly in Newark nearly a month ago, The couple had been generally re garded happy and devoted. New York: Gene Sarazen, favored aspirant to the throne of golfdom is resolved to use the new, larger and lighter ball in the British open tourney. He

6. May 18, 1931 Seward Daily Gateway Seward, AK
Article from Seward Daily Gateway, May 18, 1931

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Article Text

BANK RUN HALTED PLATTSBURG, N. Y., May 18. (AP)-A $1,000,000 brought from Albany by airplane halted a run on the Merchants National Bank.