Stamford Savings Bank - Stamford, CT

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: April 11, 1912
Location: Stamford, Connecticut (41.053, -73.539)

Metadata

Model: gpt-5-mini
Short Digest: 7278a969

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Article (1912-04-11) describes a threatened run triggered by discovery that the senior teller embezzled $35,200. Withdrawals (~$12,000) occurred but the run was averted the same day; no suspension or closure mentioned.

Events (1)

1. April 11, 1912 Run

Cause: Bank Specific Adverse Info
Cause Details: Discovery of defalcation/theft of $35,200 by the senior teller (Major William H. Holly) alarmed depositors.
Measures: Local priest (Rev. Antonio Rizzo) personally reassured Italian depositors and persuaded them to leave their money; bank officials publicly stated funds were sufficient.
Newspaper Excerpt: A threatened run on the Stamford Savings Bank following the disclosure of the defalcation of $35,200 by the senior teller ... Up to noon about $12,000 had been withdrawn.
Source: newspapers

Newspaper Articles (1)

1. April 11, 1912 The Evening World New York, NY

Article from The Evening World, April 11, 1912

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Article Text

CURATE STOPS A RUN ON STAMFORD BANK. Foreigners Were Alarmed as Result of the Teller's Theft of $35,200. STAMFORD, Conn., April 11.-A threatened run on the Stamford Savings Bank following the disclosure of the defalcation of $35,200 by the senior teller, Major William H. Holly was averted to-day by Rev. Antonio Rizzo, curate in St. John's Church. Father Rizzo, an Italian, went among the Italians of the city, advised them of the absolute soundness of the bank and persuaded them to leave their money in it. Up to noon about $12,000 had been withdrawn. The bank deposits amount to over $5,000,000. "It has been a pienic," said Treasurer Bogardus. "We have not had a busy day's business, there is plenty of money here to meet and all demands."