1721. Norwalk Savings Bank (Norwalk, CT)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
May 26, 1884
Location
Norwalk, Connecticut (41.118, -73.408)

Metadata

Model
gpt-5-mini
Short Digest
95925fab

Response Measures

Accommodated withdrawals

Description

Multiple contemporary newspapers (May 26–27, 1884) report a run on Norwalk Savings Bank triggered by a newspaper joke referring to a 'gravel bank.' About $25,000–$30,000 was withdrawn before the prank was explained. No suspension, receivership, or closure is reported in these items.

Events (1)

1. May 26, 1884 Run
Cause
Rumor Or Misinformation
Cause Details
An editor's joke/misapprehension that there was a steady run (referencing a 'gravel bank') led depositors to believe the bank was in trouble and withdraw funds.
Random Run
Yes
Random Run Snippet
Editors joke about a gravel bank; prank later explained as joke
Newspaper Excerpt
A Norwalk paper published Friday a lengthy article ... The article was headed, A Norwalk Bank in Trouble. Scores of excited depositors ... rushed to the Norwalk Savings Bank ... between $25,000 and $30,000 being taken out before the joke became generally known.
Source
newspapers

Newspaper Articles (10)

Article from Daily Kennebec Journal, May 27, 1884

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Article Text

A Practical Joke. BRIDGEPORT, Conn., May 28. A Norwalk paper published Friday, a lengthy article relative to the long and steady run on one of the oldest banks in town, which was intended as a joke referring to the gravel bank in the village. The article was headed, "A Norwalk Bank in Trouble." Scores of excited depositors who read the article or heard about it rushed to the Norwalk Savings Bank, the oldest in town, and drew their deposits. The run continued during the day between $25,000 and $30,000 being taken out before the joke became generally known.


Article from Savannah Morning News, May 27, 1884

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Article Text

GREAT EXCITEMENT CREATED. PITTSBURG, May 26, 11 P. M.-When it was discovered that President Riddle, of the Pennsylvania Bank, had taken a narcotic there was great excitement and the Dequensne Club building, where he had been taken, was crowded by anxious inquirers after his condition. A stomachpump was brought into requisition and this evening he recovered consciousness. It was learned that he had been attacked with a severe headache this morning and had taken an overdose of the narcotic. All sorts of rumors are afloat. One is a renewal of the report that the bank lost heavily in oil speculation, and another that there has been a heavy defalcation, and that the doors were opened to allow certain depositors to withdraw their deposits. Bank officers are generally dumbfounded by the turn of affairs, and profess to be entirely ignorant of the cause of the suspension. Result of an Editor's Joke. BRIDGEPORT, CONN., May 26.-A Norwalk paper published Friday a lengthy article relative to the long and steady run on one of the oldest banks in that town, which was intended as a joke, the article referring to a gravel bank in the village. The article was headed "A Norwalk bank in trouble." Scores of excited depositors who read the article became scared about it, rushed to the Norwalk Savings Bank, the oldest in the vicinity, and drew their deposits. The run continued during the day, and between $25,000 and $30,000 was taken out before the character of the article became generally known.


Article from The Indianapolis Journal, May 27, 1884

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Article Text

A Stupid Hoax and Its Result. NORWALK, Conn., May 26.-A stupid local paper published a long article on Friday last, stating that there was a steady run on one of the oldest banks of this city, and excited depositors started a run which took $30,000 from the Norwalk Savings Bank before the alleged joker explained that he referred to a gravelbank.


Article from The Portland Daily Press, May 27, 1884

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Article Text

A Silly Joke. BRIDGEPORT, Conn., May 26.-A Norwalk paper published Friday a lengthy article relative to a long and steady run on one of the oldest banks in town, which was intended as a joke, referring to a gravel bank in the village. The article was headed "A Norwalk Bank in Trouble," and #cores of excited depositors, who read the article, or heard about it, rushed to the Norwalk Savings Bank, the oldest in town, and drew their deposits. The run continued during the day, and between $25,000 and $30,000 were taken out before the joke became generally known.


Article from The Democratic Leader, May 27, 1884

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Article Text

A Stupid Joke. WOD чия NORWALK, Conn., May 26.-A stupid local paper published a long article last Friday stating that there was a steady run on the oldest bank in the city, This excited the depositors and they started a a run which took $30,000 from the Norwalk Savings bank before the alleged joker explained he referred to a gravel bank.


Article from Daily Los Angeles Herald, May 27, 1884

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Article Text

A Stapid Joke. NORWALK, Conn., May 26.-A stupid local paper published a long article last Friday, stating that there was a steady run on one of the oldest banks of this city. The excited depositors started a run which took $30,000 from the Norwalk Savings Bank before the alleged joker explained that he referred to a gravel bank.


Article from Seattle Daily Post-Intelligencer, May 27, 1884

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Article Text

NORWALK, Conn., May 26.-A stupid local paper published a long article last Friday stating that there was a steady run on one of the oldest banks in the city. Excited depositors started A run which took $30,000 from the Norwalk Savings Bank before the alleged joker explained that he referred to a gravel bank. Strikes Ending.


Article from The Daily Dispatch, May 27, 1884

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Article Text

A Misapprehension Causes a Run on a Bank. [By telegraph to the Dispatch.1 BRIDGEPORT, CONN., May 26.-A Norwalk paper published Friday a lengthy article relative to a long and steady run on one of the oldest banks in that town, which was intended as a joke-the article referring to a gravel-bank in the village. The article was headed: "A Norwalk Bank in Trouble." Scores of excited depositors who read the article, or heard about it, rushed to the Norwalk Savings Bank, the oldest in the vicinity, and drew their deposits. The run continued during the day, and between $25,000 and $30,000 was taken out before the character of the article became generally known.


Article from The Salt Lake Herald, May 27, 1884

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Article Text

A Brilliant Humorist. Norwalk, Conn., 26.-A stupid local paper published a long article last Friday stating there was a steady run on one of the oldest banks in the city, and excited depositors started a run which took $30,000 from the Norwalk Savings bank before the alleged joker explained that he referred to a gravel bank.


Article from Walker Lake Bulletin, May 31, 1884

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Article Text

An Untimely Joice. Norwalk, Connecticut has a very funny journalist. He last Friday built a joke about a steady run being made upon an old established bank. In his massive intellect, he meant a gravel bank which was being undermined by a stream, but he failed to publish the plans and specifications of his brilliant joke, and a run was made on the Norwalk Savings Bank, which nearly swamped it, and the talented humorist had to hasten to explain his gravel bank story. In these panicky times a joke like that is entirely out of place and is liable to cause much damage. It often requires more judgment to tell what not to publish, than what to publish. It takes a very little thing, sometimes, to start a disastrous run on a bank, for capital is very coy. This is particularly so, when banks are failing SO frequenily as they are now.