16919. Oneida County Savings Bank (Rome, NY)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
savings bank
Start Date
July 3, 1911
Location
Rome, New York (43.227, -75.492)

Metadata

Model
gpt-5-mini
Short Digest
8d7b91a1

Response Measures

Accommodated withdrawals, Public signal of financial health, Full suspension

Description

Multiple articles report an initial run July 3–5, 1911 with claims met and cash displayed to restore confidence. A later article (July 13, 1911) reports renewed run after charges filed against the bank president and states the bank closed, suggesting a suspension; no clear contemporaneous report of a subsequent reopening was found in these items, so final status is uncertain.

Events (3)

1. July 3, 1911 Run
Cause Details
Retaliatory withdrawals by depositors upset over a denied trust company charter and belief the bank opposed the charter
Measures
Paid claims promptly; placed stacks of cash on view behind counters to allay alarm; many withdrawals later redeposited
Newspaper Excerpt
The Oneida County Savings Bank is experiencing a run by depositors...All claims are being promptly met
Source
newspapers
2. July 5, 1911 Other
Newspaper Excerpt
Stacks of cash were placed on view behind the counters of the Oneida county Savings Bank today to allay the alarm of depositors...Confidence was gradually restored and many who had withdrawn their money re-deposited it.
Source
newspapers
3. July 13, 1911 Run
Cause
Bank Specific Adverse Info
Cause Details
Filing of formal charges against the bank's president with the state banking department, which alarmed depositors
Measures
Officials tried to assure depositors; bank waived its right to thirty days' notice and paid many withdrawals; ultimately the bank closed according to the report
Newspaper Excerpt
Following the filing by Albert W Tremain with the state banking department of charges against John S. Edwards, president...a run was inaugurated and reached serious proportions...Hundreds were unable to secure their deposits before the bank closed
Source
newspapers

Newspaper Articles (7)

Article from New-York Tribune, July 4, 1911

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Article Text

RUN ON BANK RETALIATORY Depositors at Rome Angry Because They Can't Have Trust Company. Rome, N. Y., July 3.-The Oneida County Savings Bank is experiencing a run by depositors. All claims are being promptly met and the officers of the institution say that there is no cause whatever for alarm, as no depositor will lose any money. The report of the bank on January 1, 1911, showed the par value of the assets to be $2,849,190 18, and the investment value $2,873,912 24. The deposits at that time were $2,748,952 15, showing a par value surplus of $100,283 03. The run is not occasioned by any feeling that the bank is insecure, but is the result of the failure of an effort that has been made here to institute a trust company. The State Superintendent of Banks a short time ago declined to issue a certificate for such an institution. and the feeling among some people that the Oneida County Savings Bank, among other banking institutions, was opposed to the granting of the certificate is said to have instigated the run as a retaliatory movement.


Article from The Salt Lake Tribune, July 4, 1911

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Article Text

NEW YORK BANK HAS RUN, BUT PAYS UP ROME, N. Y., July 3.-The Oneida County Savings bank experienced a run by depositors today. All claims were promptly met. according to the bank officers, who say there was no cause whatever for alarm, as no depositor will lose any money. The state superintendent of banks a short time ago declined to issue a certificate for a trust company here and the feeling among some people that the Oneida County Savings bank, among other banking institutions, was opposed to the granting of the certificate, 18 said to have instigated the run as a retaliatory movement. Children half fare to Saltair today.


Article from The Washington Times, July 5, 1911

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Article Text

Cash Restores Confidence Of Bank's Depositors ROME, N. Y., July 5.-Stacks of cash were placed on view behind the counters of the Oneida county Savings Bank today to allay the alarm of depositors who had started 3 run on the Institution. Confidence was gradually restored and many who had withdrawn their money re-deposited it.


Article from The Red Cloud Chief, July 13, 1911

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Article Text

The McNamara dynamite case has been deferred. Physicians attending Miss Hazel Schmidt, who has been sleeping almost continuously for eleven weeks at Vandalia, Ill., believe she is dying. Through counsel the Chicago packers indicted for violation of the Sherman anti-trust law have pleaded not guilty. Their trial is set for November 20. Monsignor John Henry Tihen, former chancellor ofthe Wichita Catholic diocese, was consecrated bishop of Lincoln, Neb., at the pro-cathedral at Wichita, Kas. Within a short time plans for reorganizing the Standard Oil company of New Jersey will be announced. The company, it is said, will undergo complete disintegration. The international congress at Paris for the extension of the movement for juvenile courts adopted resolutions in favor of the system of probation practiced in America. Reports, apparently of an authentic nature, are in circulation that former President Castro landed from a motor boat Wednesday at a port near the western end of Venezuela. Hundreds of persons saw Peter Peterson, 60 years old, jump from the fourteenth floor of the Carnegie building in Pittsburg to a horrible death on the flagstones of the pavement. The distinctive feature of the Fourth of July celebration at Santa Fe, N. M., was an historic pageant to commemorate the re-conquest of Santa Fe by Don Diego de Vargas in 1693. Prof. Herchell Parker of New York, noted for his efforts to climb Mount McKinley, has sailed for Valdez to make arrangements for ascending the mountain next February. While on her way to the hospital at Des Moines to visit her daughter who is dangerously ill, Mrs. Mary Woodward, aged sixty-five years, was run down and fatally injured by an automobile. Mistaking an ornate Fourth of July torpedo for a plece of candy, Simon Fisher, a Chicago man, began chewing it. The ensuing explosion tore away his jaw, inflicting probably fatal wounds. The Oneida County Savings bank at Rome, N. Y., experienced a run by depositors Monday. Ail claims were promptly met, according to the bank officers, who say no depositor will lose money. A quarter million dead flies in one heap, being a pile three feet high and five feet wide, represents the slaughter wrought by small boys in a fly-killing contest just closed in San Antonio, Texas. The government will renew the fight to dissociate the great coal carrying railroads from their virtual control of mines and thus vitalize the commodities clause of the interstate commerce law. Manuel Quezon, assistant commissioner of the Philippine islands, made a strong plea for the independence of his countrymen in a Fourth of July speech before the Tammany society of New York Tuesday. Eugere F. Ware, "Ironquill," the famous Kansas poet, United States pension commissioner under President Roosevelt, and one of the best known lawyers in the west, died suddenly from heart disease at Cascade, Colo. The country south of Palomas, Mex., is full of revolutionary bands, who style themselves liberals, or loyalists. They are securing mounts, provisions and money and issuing receipts in the name of the liberal party. The house of lords, by a vote of 253 to 46, has passed Lord Lansdowne's amendment to exclude home rule from the operation of the veto bill. War Secretary Haldane made it clear that the government would refuse to accept the amendment. The Fourth of July reception at Dorchester house by Ambassador and Mrs. Reid was even more largely attended than usual on account of the fact that a large number of Americans who came over to attend the coronation are still in London. Accompanied by fifteen officers, 431 cadets of the American training squadron, which anchored at Kiel last week, have left on a special train for Berlin where they expect to remain for several days on a sight-seeing tour of the German capital. Rain is much needed in the great agricultural districts, and the intense heat in the interior and northern part of the country east of the Rockies is doing much damage to crops generally, according to the crop weather report issued by the weather bureau. The damage done by the recent floods in Bulgaria is enormous. The monetary loss is estimated at $20,000,000. Many buildings were washed away by the swollen streams and


Article from Perth Amboy Evening News, July 13, 1911

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Article Text

RUN ON ROME BANK. Charges Against President Alarm Its Depositors. Rome, N. Y., Jude 13.-Following the filing by Albert W Tremain with the state banking department of charges against John S. Edwards, president of the Oneida County Savings bank of Rome, a run was inaugurated and reached serious proportions. Officials tried to assure the de positors that the bank was all right, but they demanded their money, which was given to them, the bank in all cases waiving its right to the thirty days' natice to withdraw deposits and close accounts. Hundreds were unable to secure their deposits before the bank closed and a renewal of the run is looked for.


Article from The Citizen, July 19, 1911

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Article Text

RUN ON ROME BANK. Charges Against President Alarm Its Depositors. Rome, N. Y., July 13.-Following the filing by Albert W. Tremain with the state banking department of charges against John S. Edwards, president of the Oneida County Savings bank of Rome, a run was inaugurated and reached serious proportions. Officials tried to assure the depositors that the bank was all right, but they demanded their money, which was given to them, the bank in all cases waiving its right to the thirty days' notice to withdraw deposits and close accounts. Hundreds were unable to secure their deposits before the bank closed and a renewal of the run is looked for.


Article from Daily Sentinel, July 6, 1931

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Article Text

Tabloid Tales of the Past July The celebration of July Fourth was indeed joyous occasion. Giv. en under auspices of Rome Com munity Service there was parade, baseball game, speaking, band concert, picnic and fireworks. The address was made by S. H. Beach. Lee Center joined Rome in celebration of the day. The annual reunion of the Law family was held July at the home of B. Walker between Rome and Westmoreland. Hot weather prevails. Rochester reports 93 and Gloversville 95 on Fourth. Fire Chief George M. Bower is elected vice president of State Fire Association convention at Yonkers. Kiwanis Club has pienic and program at Panther Lake with wives and friends as guests. Richard Pugh receives severe burns about the face when tank of acetylene which he was filling on the farm of C. Hurley near Remsen, explodes. July 1911. Day before the Fourth there was crowd at the Oneida County Sav ings Bank and somebody started the rumor that there was run on. The bank perfectly solvent, has good surplus and there was no real cause for excitement. In fact the bank is stronger financial than ever before in its history. Most of those who wanted their money were women. They got as fast as they asked for it. The Fourth of July, the second year of safe and sane celebration program, passed quietly Rome. The mercury ran up as high as 93 in the shade in some places. The Fort Stanwix Drum Corps and the members of the Plumbers' Union went to Utica to witness the laying of the corner stone of the Labor Temple. Many Romans spent the day at Sylvan Beach and Summit Park. The night trains from the beach heavily loaded. It estimated that the 10:30 O. & W. train of eight coaches from there carried thousand people. A committee from the Bund placed wreath at the foot of the statue of General Gansevoort in East Park. Nearly thousand Romans found it and inviting at Summit Park, good west wind being appreciated by all During the afternoon two special cars were run from this city to the park and return but they did not begin to accommodate the crowd. Many persons coming down from the park in the evening had to transfer at the line and were obliged wait for the regular Falls cars that were already crowded to standing room with people returning from Utica and the east. George Edward Yager, 12, son of Mr. and Mrs. John Yager, 311 S. Doxtater avenue, died yesterday as the result of injuries he received when he was run over by freight near the Union Can Company's factory on Armstrong avenue, His right leg was cut off. The Bee Hive is advertising for 20 salesladies for tomorrow. W: B. Johnson won silver cup the Teugega Club July match. team captained by B. H. Beach defeated one captained by F. M. Shelley in fast three-inning game. The score was tutions on both sides. "Range Pals," true story of the great cattle rangers of old Arizona at the Casino. Business at the Oneida County Savings Bank had assumed nearly normal July proportions today. The assurance given by prominent citi-zens and the Sentinel that the bank was perfectly sound did much to queel the fears of people who didn't know why they were afraid. July 1901. England defeats the University Pennsylvania rowing team at Henley, England, by boat length. More than 1,600 persons are seriously injured in 4th of July celebrations throughout the country. Andrew Hopkins, 70, of Waterville, is killed when run over by an Albany street car. merciful man is merciful to his beast," says an item in the Boonville notes in commenting on the fact that few drivers have provided their horses with hats during the hot weather. The Village of Cleveland votes to put sidewalks on both sides of Main street. A meeting is held in Clinton to further the construction of the proposed electric line. Surveys and right of way purchases will start soon. Rome and Utica split doubleheader before small sized holiday crowd at Riverside Park, July A disagreeable Fourth, and for that matter, disagreeable Fifth also, for it rained most of the time both days. The boys with tin horns and pistols tried to celebrate on the night of the Third, but it was discouraging St. Peter's Church planned big picnic the Fourth at Riverside Park, but the managers got out hand bills announcing the picnie's postponement and festival in Sink's Opera House instead There was dancing the festival and, though no tickets were taken the door, the net receipts were $400. The in opera house enabled the managers to dispose of the ice cream and The Chicago Herald, by an ex pedition, has established the place where Columbus landed as Watling's Island in the West Indies. On spot was erectWithin the foundation of the monument were placed "copies number of the leading American among them the Rome Sentinel. The court decided that those Uti Sunday baseball players were guilty, because admission charged and game that fire. It was struck by lightning. The Rome school budget for the next fiscal year is fixed at which is to be raised by local tax. At Lowell on the evening of July while being set off, Grant Hebron of Mefarm hand in the employ of Casterton, was holdthree-pound package of powder when spark from Roman candle set it off. Hebron was knocked down and his clothing was afire. One of his fingers was burned to crisp and he was otherwise burned. The use of bulk powder was common for cannon in 1891, also for firing anvils. Death on the Fourth of July of Hannibal U. senator from Maine, and contemporary of Webster, Calhoun, Douglass, Benton, Jefferson Davis and Simon Cameron. He also in the Senate With Blaine, Edmunds, Thurman and Bayard. Adams, Jef ferson, Monroe and Hamlin died on Independence Day. July 6, 1881. Death of Frank Bingham, Dr. R. M. Bingham. He one the rising young business men Rome and was member of R. Bingham & Fourth of July celebration was curtailed on account of the sad news of President Garfield's assassination. Foot races and other amusements were held at Riverside Park in the afternoon. No serious accidents although were injured. S. B. Kingsley, son of Dr. Kingsley, was accidently and Martin Thalman, son of Alderman Martin Thalman shot blank cartridge in his hand cutting an ugly wound.