First National Bank - Duquesne, PA

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 4730
Charter Number: 4730
Start Date: November 14, 1903
Location: Duquesne, Pennsylvania (40.381, -79.860)

Metadata

Model: gpt-5-mini
Short Digest: b3ab04a6

Response Measures

None

Description

Newspaper accounts (Nov 1903) describe a run on the First National Bank of Duquesne driven by maliciously circulated stories among mill workers/foreigners. Withdrawals (~$40,000) were largely replaced the next day; no suspension or closure is mentioned. Bank employed detectives and merchants came to its aid.

Events (2)

1. April 20, 1892 Chartered

Source: historical_nic

2. November 14, 1903 Run

Cause: Rumor Or Misinformation
Cause Details: Maliciously circulated stories among foreign mill workers allegedly about the bank's condition; officials called detectives to find origin.
Measures: Employed detectives to trace origin of reports; merchants came to the bank's aid; most withdrawn funds were replaced next day.
Newspaper Excerpt: Believing stories were circulated against their institution among the foreigners in the mills with malicious intent, the directors of the First National Bank have employed detectives to learn the origin of reports that resulted in a run on the bank. Tuesday afternoon a total of about $40,000 was withdrawn from the bank. most of which was replaced yesterday.
Source: newspapers

Newspaper Articles (2)

1. November 15, 1903 The Washington Times Washington, DC

Article from The Washington Times, November 15, 1903

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Article Text

DUQUESNE INSTITUTION INVESTIGATES A RUN DUQUESNE, Pa., Nov. 14.-Believing stories were circulated against their institution among the foreigners in the mills with malicious intent, the directors of the First National Bank have employed detectives to learn the origin of reports that resulted in a run on the bank. Tuesday afternoon a total of about $40,000 was withdrawn from the bank. most of which was replaced yesterday. The merchants, when they heard of the run, came to the bank's ald.

2. November 17, 1903 The Stark County Democrat Canton, OH

Article from The Stark County Democrat, November 17, 1903

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Article Text

RUN ON A BANK Said to Have Been Started Through Malice- Officials Trying to Run Guilty Ones to Earth. Pittsburg Nov. 13-A run was started on the First National bank of Duqnesne, several days ago. The bank officials employed detectives to ascertain who started talk about the bank's condition so as to prosecute them for maliciousness. During the run last Tuesray afternoon, $40,000 was taken by foreigners. In the mad rush one woman left her baby at home to get her money. Returning she found her baby drowned in wash tub. a