18772. Lancaster Trust Company (Lancaster, PA)

Bank Information

Episode Type
Run Only
Bank Type
trust company
Start Date
February 3, 1905
Location
Lancaster, Pennsylvania (40.038, -76.306)

Metadata

Model
gpt-5-mini
Short Digest
90a88824

Response Measures

Accommodated withdrawals

Description

Multiple newswire articles from Feb 2-3, 1905 report a run on the Lancaster Trust Company after the collapse of the City Trust Company. The bank met all demands, stayed open late, and announced it would pay dollar for dollar and open as usual the next day. No suspension or closure is reported in these articles.

Events (1)

1. February 3, 1905 Run
Cause
Local Banks
Cause Details
Run began after and was amplified by the collapse/failure of the City Trust Company about ten days earlier; articles also cite false and groundless rumors shaking confidence.
Measures
Bank met every demand, kept doors open late (until nearly 6 p.m.), announced it would open at usual time next day and pay dollar for dollar; increased surplus cited in directors' meeting.
Newspaper Excerpt
The run on the Lancaster Trust Co. is the result of false and groundless rumors and the shaking of confidence by the recent failure of the City Trust Co. The institution is as solid as Gibraltar and we will pay a dollar for every dollar deposited with us.
Source
newspapers

Newspaper Articles (8)

Article from Daily Kennebec Journal, February 3, 1905

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Article Text

RUN ON THE bank. Lancaster Bank Pays Dollar for Dollar Through the Rush. Lancaster. Pa., Feb. 2.-A quiet run on the Lancaster Trust Co. which has been under way ever since the collapse of the City Trust Co. 10 days ago, culminated this afternoon in a wild rush of depositors to withdraw their money. The bank met every demand and kept its doors open until nearly € o'clock, several hours longer than usual, closing them with the announcement that the institution would be open at the usuai time tomorrow morning and be ready to pay dollar for dollar. President John Hertzler, this evening, said. "The run on the Lancaster Trust Co. is the result of false and groundless rumors and the shaking of confidence by the recent failure of the City Trust Co The institution is as solid as Gibraltar and we will pay a dollar for every dollar deposited with us." At the January meeting of the directors of the bank the surplus was increased from $250,000 to $500,000, which is double the capital stock.


Article from Perth Amboy Evening News, February 3, 1905

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Article Text

"SOLID AS GIBRALTAR." Run on Lancaster Bank the Result of a Panic, LANCASTER, Pa., Feb. 3.-A quiet run on the Lancaster Trust company, which has been under way ever since the collapse of the City Trust company ten days ago, culminated in a wild rush of depositors to withdraw their money. The bank met every demand and kept their doors open until nearly 6 o'clock yesterday, several hours longer than usual, closing then with the announcement that the institution would open at the usual time this morning and be ready to pay dollar for dollar. President John Hertzler said: "The run on the Lancaster Trust company is the result of false and absolutely groundless rumors and the shaking of confidence by the recent failure of the City Trust company. The institution is as solid as Gibraltar, and we will pay a dollar for every dollar deposited with us." The bank's surplus is $500,000, which is double the capital stock.


Article from Rock Island Argus, February 3, 1905

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Article Text

Distrust Ends in Bank Run. Lancaster, Pa., Feb. 3.-After withdrawing their deposits quietly for ten days, depositors yesterday afternoon started a run on the Lancaster Trust company. The bank was kept open until 6 o'clock to meet demands. It has $500,000 surplus.


Article from Waterbury Evening Democrat, February 3, 1905

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Article Text

"SOLID AS GIBRALTAR." Run on Lancaster Bank the Result of a Panic. LANCASTER, Pa., Feb. 3.-A quiet run on the Lancaster Trust company, which has been under way ever since the collapse of the City Trust company ten days ago. culminated in a wild rush of depositors to withdraw their money. The bank met every demand and kept their doors open until nearly 6 o'clock yesterday, several hours longer than usual, closing then with the announcement that the institution would open at the usual time this morning and be ready to pay dollar for dollar. President John Hertzler said: "The run on the Lancaster Trust company is the result of false and absolutely groundiess rumors and the shaking of confidence by the recent failure of the City Trust company. The institution is as solid as Gibraltar. and we will pay a dollar for every dollar deposited with us." The bank's surplus is $300,000. which is double the capital stock.


Article from Sistersville Daily Oil Review, February 3, 1905

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Article Text

Run on Bank Special to The Oil Review. Lancaster, Pa., Feb. 3.-A run on the Lancaster Trust company began yesterday and continued today. It was confined however, to small depositors.


Article from Ottumwa Tri-Weekly Courier, February 4, 1905

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Article Text

BANK WITHSTANDS A RUN. Institution At Lancaster, Pa., Keeps Open Late to Pay Depositors. Lancaster, Pa., Feb. 3. - A quiet run on the Lancaster Trust company which has been under way ever since the collapse of the City Trust company ten days ago, culminated yesterday afternoon in a rush of depositors to withdraw their money. The bank met every demand and kept its doors open until nearly 6 o'clock, several hours longer than usual.


Article from Evening Star, February 6, 1905

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Article Text

News Briefs. Bud Hilborn. a negro gambler and desperado, who killed Abe Durden, a white officer, near Adrian, Ga., January 7 last year, was hanged at Swainsboro, Ga., Friday. Police Commissioner McAdoo announced in New York Friday that only nine out of 1,500 policemen had qualified in revolver practice, which was held in armories recently. The commissioner stated that in the future drastic methods would be adopted, in the hope of making the patrolmen better marksmen. Fire in the Central Hotel, at Islip, L. I., Friday caused one death. exposed a score or more occupants of the hotel to great danger, and resulted in a financial loss of $30,000. The dead man was Oliver Dowling, a nurse, who made his home at the hotel. Dr. Homer L. Bartlett of Brooklyn, a famous specialist and physician, died at Thomasville, Ga., Friday of Bright's disease. He was seventy-four years of age and had been in Florida for his health. The Panama steamer Orizaba, which sailed for New York from Colon Friday, had on board Col. James R. Shaler, former superintendent of the Panama railroad, and recently appointed consul of Panama at Chattanooga, Tenn., and Mrs. Shaler. A quiet run on the Lancaster (Pa.) Trust Company, which has been under way ever since the collapse of the City Trust Company ten days ago, culminated Thursday in a wild rush of depositors to withdraw their money. The bank met every demand promptly. Four-year-old Abraham Eichelbaum, son of H. Eichelbaum, a Berkeley (Va.) merchant, was ground to death Friday beneath the wheels of an electric car on the Berkeley-Norfolk line. The fourteen-months-old child of Albert Brown, a farmer of Gorman, Garrett county, Md., fell headlong into an open grate and was burned to death. Floyd and Ballard Stollings and Mary Stollings, the latter's wife, have been indicted at Logan, W. Va., for the murder of Rose White near her home at Chapmansville, W. Va. Mrs. J. Fisher Hauer of this city died suddenly in Frederick. Md., Thursday, where she was visiting relatives. She is survived by her husband and the following children: Dr. Wilbur S. Hauer, Mrs. Frank R. Chase and Lee Hauer, all of Washington. Her remains were buried in Frederick. Isaac S. Morris, editor of the Piqua (Ohio) Call, died Friday from burns. On arising yesterday morning he stood by an open grate fire before dressing. and as he turned away his night robe caught fire. His entire body was severely burned. Fire Friday night entirely destroyed Cedar Court, the country house of Otto H. Kuhn, situated near Morristown, N. J., entailing a loss of about $400,000. Valuable paintings, furnishings and other articles which were of high value were destroyed. Clark University at Worcester, Mass., observed the ninetieth anniversary of the birth of its founder, Jonas G. Clark, Wednesday. An address on the life, work and character of Mr. Clark was delivered by Rev. Calvin Stebbins of Framingham. Simon J. Murphy, a pioneer Michigan lumberman and one of the wealthiest capitalists of Detroit, died in that city Wednesday, aged eighty-nine years. He was a native of Maine. Actual control of the Chicago City Railway Company was transferred to the Morgan-Field-Mitchell-Valentine syndicate at Chicago Wednesday. President Hamilton will retire from the presidency of the company. It is understood that his successor will be John A. Spoor. President Amador of Panama has made the following appointments: C. Gilbert Wheeler, to be consul at Chicago; James R. Shaler, formerly superintendent of the Panama railroad. to be consul at Chattanooga, Tenn.


Article from Daily Press, November 18, 1905

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Article Text

Negotiations between representatives of the Hampton Roads Traction Company, which acquired the property of the Hampton Roads Railway & Electric Company at the recent foreclosure sale made by the United States Court, and W. J. Payne, president of the Newport News & Old Point Railway & Electric Company were concluded a few days ago, and on Thursday the control and management of that property, consisting of about 22 miles of electric railway lines, was turned over to the latter. This ends what has probably been the most stubbornly contested street railway fight that has ever occurred in the State of Virginia, it having lasted about three and one-half years. For about two years the Hampton Roads Rialway & Electric Company was in the hands of receivers, the foreclosure sale being made on October 5th, 1905. The conclusion of this fight leaves the Newport News & Old Point Railway & Electric Company in entire control of the railway and lighting situation in this entire territory. A melancholy train of fatalities seems to have occurred in connection with the construction and operation of the Hampton Roads Railway & Electric Company, in its opposition to the railway and lighting Interests of W. J. Payne and associates in this community. Before the road was even completed it was placed in the hands of receivers; the contractors never completed it, and financially failed. A bondholders' reorganization committee was then formed, representing certain financial interests in Pennsylvania, who had furnished the money for constructing the road. The president of one of the trust companies in Reading, Pa., was made chairman of the bondholders' committee. Within a short time a run is said to have occurred on his trust company, and he died suddenly. His successor on the bond-holding committee was the president of a trust company in Lancaster, Pa., and within a short time after his election there was a disastrous run on his trust company, its doors were closed, and he also died suddenly. Within a short time thereafter another run occurred on the Lancaster Trust Company, whose president was also a prominent member of the reorganization committee of the bondholders. In addition to this, it is understood here that the actual loss to the finan-