17058. Hewlett Woodmere National Bank (Woodmere, NY)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
12294
Charter Number
12294
Start Date
July 11, 1931
Location
Woodmere, New York (40.632, -73.713)

Metadata

Model
gpt-5-mini
Short Digest
4aafe27f

Response Measures

None

Receivership Details

Depositor recovery rate
86.6%
Date receivership started
1934-05-09
Date receivership terminated
1938-10-07
Share of assets assessed as good
31.5%
Share of assets assessed as doubtful
68.3%
Share of assets assessed as worthless
0.2%

Description

Multiple July 11, 1931 articles report a run on the Hewlett Woodmere National Bank started by Mr. and Mrs. Monroe Froelich who withdrew $1,000 and spread reports the bank was insolvent after receiving a mysterious voice telephone call. Officials denied the rumors and there is no mention of suspension, receivership, or permanent closure in the articles.

Events (3)

1. January 3, 1923 Chartered
Source
historical_nic
2. July 11, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Mr. and Mrs. Monroe Froelich withdrew $1,000 and spread reports the bank was insolvent after receiving a 'mysterious voice' telephone call urging them to take out their money.
Random Run
Yes
Random Run Snippet
Mysterious voice telephoned them to take out their money; false rumors.
Measures
Bank officials publicly denied the rumors; Nassau County Bankers' Association retained agency to investigate spreading of false statements.
Newspaper Excerpt
The Froelichs were accused of starting a run on the Hewlett-Woodmere National Bank by drawing out their $1,000 and spreading the reports that the bank was insolvent. The Froelichs told the district attorney's office that a mysterious voice telephoned them to take out their money.
Source
newspapers
3. May 9, 1934 Receivership
Source
historical_nic

Newspaper Articles (10)

Article from Commercial, July 11, 1931

Click image to open full size in new tab

Article Text

Two Indicted For Causing A Run On Bank Mineola, N. Y., July 11-(AP)The Nassau County grand jury, after indicting Mr. and Mrs. Monroe Froelich, of Hewlett, Long Island, for causing a run on Woodmere bank, was today considering handing up indictments against other The Froelichs were accused of starting a run on the HewlettWoodmere National Bank by drawing out their $1,000 and spreading the reports that the bank was insolvent. The Froelichs told the district attorney's office that a mysterious voice telephoned them to take out their money. They did and told a few of their friends, they said. Other who withdrew accounts are to be questioned by the grand jury.


Article from Finger Lakes Times, July 11, 1931

Click image to open full size in new tab

Article Text

Man Killed, Two Others Injured in Auto Crash Mineola, July The Nassau county grand jury, ter indicting Mr. and Mrs. MonHewlett, Long Island, for causing Woodmere today sidering handing gainst other persons. The Froelichs were accused starting the HewlettWoodmere National Bank drawing out their and spreading the reports that the bank insolvent. The Froelichs told the district attorney's office that mysterious voice them take They did and told few of their they said Other persons who counts are to questioned


Article from Evening Star, July 11, 1931

Click image to open full size in new tab

Article Text

BANK RUN INDICTMENTS MAY BE INCREASED Mineloa, N. Y., Grand Jury Probes Others After Holding Man and Wife for Rumors. By the Associated Press. MINEOLA, N. Y., July 11.-The Nassau County grand jury, after indicting Mr. and Mrs. Monroe Froelich of Hewlett, Long Island, for causing a run on a Woodmere Bank, was today considering handing up indictments against other persons. The Froelichs were accused of starting a run on the Hewlett-Woodmere National Bank by drawing out their $1,000 and spreading the reports that the bank was insolvent. The Froelichs told the district attorney's office M that a mysterious voice telephoned them to take out their money. They did and told a few of their friends, they said. Other persons who withdrew accounts are to be questioned by the grand jury.


Article from The Tampa Times, July 11, 1931

Click image to open full size in new tab

Article Text

Depositors Held For Causing Run On N. Y. Bank Mineola, N. Y., July 11.-The Nassau county grand jury, after indicting Mr. and Mrs. Monroe Froelich, of Hewlett, Long Island, for causing run on a Woodmere bank, today considering handindictments against other persons. The Froelichs were accused of starting HewlettWoodmere National bank by drawing out their $1,000 and spreading the reports that the insolvent. The told the district office that mysterious voice telephoned to take out their money. They did and told few of their friends, they said. Other persons who withdrew accounts to be questioned by the grand jury.


Article from Dayton Daily News, July 11, 1931

Click image to open full size in new tab

Article Text

INDICTMENTS IN BANK RUN PEND New York Jury May Return Additional True Bills Against Persons Responsible. MINEOLA, July The Nassau co. grand after indicting Mr. Monroe Froelich, of Hewlett, for causing run on Woodmere bank, was today handing up indictments against other The Froelichs were accused starting run the HewlettWoodmere National bank by drawout their $1000 and spreading the reports the bank was solvent. The Froelichs told the district attorney's office that mysterious voice telephoned them take out their money. They and told few of their friends, they said.


Article from The Times-Tribune, July 11, 1931

Click image to open full size in new tab

Article Text

STARTING Mineola. N. Y., July 11 (P).-The Nassau county grand after indicting Mr. and Mrs. Monroe Froelich of Hewlett. Long Island, for causing run on Woodmere bank. was today considering handing up Indictments against other The Froelichs were accused of starting run the HewlettWoodmere National bank by out their and spreading the report that bank was inThe told the district office that mysterious voice telephoned them to take out their money. They did and told few of their friends, they said. Other persons who withdrew their accounts are to be questioned by the grand jury


Article from The Brooklyn Daily Times, July 11, 1931

Click image to open full size in new tab

Article Text

INDICTED AFTER BANK RUN Inwood Couple to Appear Before Judge Smith MondayOfficials Deny Rumors. Mineola, July 11.-On Monday. A. Kenneth Chave, attorney for and Mrs. Monroe Froelich, of Woodmere, will produce his clients in the County Court before Judge Smith the action of the Grand Jury that heard testimony from officials HewlettWoodmere Bank to the effect that false reports circulated regarding the bank's financondition. The Hewlett Woodmere Bank officials were at to account the sudden run because the bank, they said, in sound financial condition. The Nassau County Association hearing the report retained the Burns Agency investigate the spreading of the false statements result, was said yesterday at the District Attorney's office indictments have found and that the investigation coninue to include others are alleged to have spread false stateWalter I. head of the First National Bank & Trust Co., Rockville and president of the Bankers' Association. in statement following the action of the Grand Jury, said in part: result of false rumors that been regarding the conditions of of the banks of Nassau the mittee of the Bankers' Association takes this opportunity assure the citizens the stability and safety of the banking institutions in this county, evidenced by the reports of the condition of the individual banks published as of June 30. Yesterday. after conference William Pettit, representing the bank. and William Craft Sherman. representing the banking William Brower, cashier the bank, the following On Wednesday July false rumor spread throughout Woodmere regarding the Hewlett. Woodmere National Bank which "Through the American Association Burns Mr. was sent Woodmere thorough the Attorney N. within penaed responsible for false before spreading those Grand spread the Other of those who the ably follow reported depositors almost from Hewlett National told was withdrew entire count that she had been prompted telephone not the she She the


Article from Montpelier Evening Argus, July 11, 1931

Click image to open full size in new tab

Article Text

COUPLE INDICTED Charged With the Starting of a Run on Bank Mineola, N. Y., July 11, (/P)-The Nassau county grand jury, after indicting Mr. and Mrs. Monroe Froelich of Hewlett, Long Island, for causing run on a Woodmere bank, was today considering handing up indictments against other persons. of The Froelichs were accused starting a run on the Hewlett-Woodmere National Bank by drawing out their $1,000 and preading the report that the bank was insolvent. The Froelichs told the district attorney's office that a mysterious voice telephoned them to take out their money. few of their did and told a They friends, they said. Other persons who withdrew accounts are to be questioned by the grand jury.


Article from Omaha World-Herald, July 11, 1931

Click image to open full size in new tab

Article Text

Indicted for Causing Bank Run on July 11 county grand The Nassau Invents Machine to and Mrs. Monindicting Long Froelich Electrocute 'Hoppers causing run for today considering indictments against handing mond other an were accused of The Froelichs cute of the Hewlettstarting run through alterNational bank Woodmere These thousand doltheir reports that and spreading when "hopper strikes The Froethe bank the current through told the district attorney's lichs body. The screen the that mysterious voice front car, and the current them take out their phoned supplied by the They did and told Several thousand grasshoppers their friends, they killed were Friday. Other withdrew west the Niobrara counts to be questioned by the devouring small grain jury.


Article from The Lewiston Daily Sun, July 13, 1931

Click image to open full size in new tab

Article Text

INDICT COUPLE FOR STARTING BANK RUN MINEOLA, N. Y., July The Nassau county grand jury, er indicting Mr. and Mrs. Monroe Froelich, Hewlett Long Island, for on Woodmere bank, today considering handing up indictments against other The Froelichs were accused of starting the HewlettWoodmere National bank by drawing out their $1,000 and the reports the bank was solvent. Froelichs told the district attorney' office mysterious voice telephoned them take out their money They did and told few of their friends, they said.