18955. Bank of Philadelphia (Philadelphia, PA)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
July 1, 1877*
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini
Short Digest
b8744041

Response Measures

Public signal of financial health, Books examined

Description

Multiple reprints of a Philadelphia Record story (summer 1877) describe a run/rush on a savings institution at Third & Chestnut that was calmed the same day by a newsboy's inspection and public reassurance from the president. No suspension, closure, or receivership is mentioned. The article calls it a 'Savings Fund' but the provided bank name (Bank of Philadelphia) was used per instructions; the event applies to a Philadelphia savings bank/institution.

Events (1)
1. July 1, 1877* Run
Cause
Rumor Or Misinformation
Cause Details
A rumor circulated about the Savings Fund's condition, provoking a rush of depositors
Measures
President publicly assured depositors, allowed inspection of the books (newsboy examined books), used public reassurance to stop the run
Newspaper Excerpt
Well, a rumor had gone abroad about the Savings Fund ... and so when a rush was made on the bank ... the rush for money was temporarily stopped
Source
newspapers

Newspaper Articles (7)
1. July 26, 1877 Public Ledger Memphis, TN
Article from Public Ledger, July 26, 1877

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Article Text

young men was eighteen years of age. HOW A NEWSBOY SAVED A BANK. Invited in By the President to Ex. amine the Books, aud Satisfied. Philadelphia Record.1 "And now let me tell you how Didley, the newsboy, stopped a panic. It was soon after the fail ure of the Bank of Pennsylvania, and public confidence in all moneyed institutions was badly shaken. Savings funds especially felt the shock. Well, & rumor had gone abroad about the Savings Fund, then located in the building at the southeast correr of Third and Chestnut streets, where the Western Union Telegraph office is now situated. The depositors were mostly Germans, in small amounts. Didley had told me he had $800 there, so a on the on deposited was made and bank when I called rush the president as a newspaper man to make inquiries, Didley hadn't got down town yet, but some of the newsboys started to notify him, while others in for his gathered house the crowd. All were as much interested as himself in his finances. A failure of the bank meant a stoppage of theater the tickets. I soon learned that fund was in a to if the was savings go through rush condition checked. But we can't stand this panic. I'll see that Didley shan't lose it cent, if I have to pay it out of my own pocket,' said the president. This touched me, and I resolved to help him. I'll send Didley over he suggested to the he here when president, arrives, 'and I when comes you give him full liberty to look at the books, etc., as you have given me. Then trust to his tact. I found Didley waiting for meat the office, and told him the facts. Over he walked with the careless air of a capitalist, through the crowd into the bank, followed by a yelling mass of newsboys. "I want to see the president, demanded Didley. I am here; what can I do for you. Mr. (calling him by his proper name). Well, Mr. President, I want to know the exact state of affairs. have $800 deposited here, and I can't afford to lose it. But Idon't want to trouble you by drawing it out if it is safe. I ask you, on your word of honor, is it safe ?' as assure you that it is, on my of honor. But as you word in have and acted so gentlemanly walk examine the books. With one of his little hands thrust under his short coat-tails and the other placed on his breast, Didley walked into the directors room with all the style of a Rothschild. The rush for money was temporarily stopped by the crowd gazing on this little man. Soon Didley appeared, his face showing evident satisfaction. Did your money? was the saluthe crowd as you tation get of of boys, he reached the step. Why should I get my money?? he answered. 'This bank's all safe-1 don't scare like these Dutchmen. Three cheers for went up throats, youthful Didley! confidence of of and by noon was and the The me that bank, as a continuance would among appeared. afterward the the stopped them, have bank! newsboys embarrassed Didley president from Three The crowd assorted had hundreds of cheers saved the them the had told panic itself rush dis. the be- for vond redemption before they had time to dispose of their assets at a proper time.'

2. August 3, 1877 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, August 3, 1877

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Article Text

How a Newsboy Saved a Bank. And now let me tell you how Didley,' the newsboy, stopped a panic. It was soon after the failure of the Bank of Pennsylvania,and public confidence in all moneyed institutions was badly shaken. Savings funds especially felt the shock. Well, a rumor had gone abroad about the Savings Fund then located in the building at the southeast corner of Third and Chestnut Streets, where the Western Union Telegraph office is now situated. The depositors were mostly Germans, in small amounts. Didley had told me he had $800 deposited there, and so when a rush was made on the bank I called on the President as a newspaper man to make inquiries. Didley hadn't got down town yet, but some of the newsboys started for his house to notify him, while others gathered in the crowd. All were as much interested as himself in his finances. A failure of the bank meant a stoppage of theater tickets. I soon learned that the Savings Fund was in a condition to go through if the rush was checked. But we can't stand this panic. I'll see that Didley shan't lose a cent, if I have to pay it out of my own pocket," said the President. This touched me, and I resolved to help him. I'll send Didley over here when he arrives, I suggested to the President, and when he comes you give him full liberty to look at the books, etc., as you have given me. Then trust to his tact. I found Didley waiting for me at the office, and told him the facts. Over he walked, with the careless air of a capitalist, through the crowd, into the bank, followed by a yelling mass of newsboys. ..I want to see the President," demanded Didley. I am here; what can I do for you, Mr. -?' (calling him by his proper name). "+Well, Mr.President, I want to know the exact state of affairs. I have $800 deposited here, and I can't afford to lose it. But I don't want to trouble you by drawing it out, if it is safe. I ask you, on your word of honor, is it safe?' ⑉ assure you that it is, on my word of honor. But as you have acted so gentlemanly, walk in and examine the books.' With one of his little hands thrust under his short coat-tails and the other placed on his breast, Didley walked into the Directors' room with all the style of a Rothschild. The rush for money was temporarily stopped by the crowd gazing on this little man. Soon Didley emerged, his face showing evident satisfaction. Did you get your money? was the salutation of the crowd of boys, as he reached the step. *Why should I get my money? he answered. This bank's all safe-I don't scare like these Dutchmen. 'Three cheers for the bank!' 'Three cheers for Didley! went up from hundreds of youthful throats. The older folks stood awe-stricken. The confidence of the newsboys asserted itself among them, and by noon the panic was stopped, and the crowd had disappeared. The President told me afterward that Didley had saved the bank, as a continuance of the rush would have embarrassed them beyond redemption, before they had time to dispose of their assets at a proper price. -Philadelphia Record. ... -Now the young doctor follows the

3. August 4, 1877 Northern Tribune Cheboygan, MI
Article from Northern Tribune, August 4, 1877

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Article Text

How a Newsboy Saved a Bank. From the Philadelphia Record. And now let me tell you how "Didley," the newsboy, stopped a panic. It was soon after the failure of the Bank of Pennsylvania, and public confidence in all moneyed institutions was badly shaken. Well, a rumor had gone abroad about the Savings fund, then located in the building at the southeast corner of Third and Chestnut streets, where the Western Union telegraph office is now situated. The depositors were mostly Germans, in small amounts. Didley had told me he had $800 deposited there, and so when a rush was made on the bank I called on the President as a newspaper man to make inquiries. Didley hadn't got down town yet, but some of the newsboys started for his house to notify him, while others gathered in the crowd. All were as much interested as himself in his finances. A failure of the bank meant a stoppage of theatre tickets. I soon learned that the savings fund was in a condition to go through if the rush was checked. "But we can't stand this panic. I'll see that Didley shan't lose a cent, if I have to pay it out of my own pocket," said the President. This touched me, and I resolved to help him. "I'll send Didley over here when he arrives," I suggested toj the President, "and when he comes you give him full liberty to look at the books, etc., you have given me. Then trust to his tact. I found Didley waiting for me at the office, and told him the facts. Over he walked, with the careless air of a capitalist,I through the ctowd into the bank, followed by a yelling mass of newsboys. "I want to see the President," demanded Didley. "I am here; what can I do for you, Mr. (calling him by his proper name. "Well, Mr. President, I want to know the exact state of affairs. I have $800 deposited here, and I can't afford to lose it. But I don't want to trouble you by drawing it out if it is safe. 1 ask you, on your word of honor, is it safe "I assure you that it is, on my word of honor. But as you have acted so gentlemanly, walk in and examine the books." With one of his little hands thrust under his short coat tails and the other placed on his breast, Didley walked into the directors' room with all the style of a Rothschild. The rush for money was temporarily stopped by the crowd gazing on this little man.

4. August 4, 1877 Dodge City Times Dodge City, KS
Article from Dodge City Times, August 4, 1877

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Article Text

How a Newsboy Saved a Bank. And now let me tell you how Didley, the newsboy, stopped a panic. It was soon after the failure of the Bank of Pennsylvania, and public confidence in all moneyed institutions was badly shaken. Savings funds especially felt the shock. Well, a rumor had gone abroad about the Savings Fund then located in the building at the southeast corner of Third and Chestnut Streets, where the Western Union Telegraph office is now situated. The depositors premostly Germans, in small amounts. Didley had told me he had $800 deposited there, and so when a rush was made on the bank I called on the President as a newspaper man to make inquiries. Didley hadn't got down town yet, but some of the newsboys started for his house to notify him, while others gathered in the crowd. All were as much interested as himself in his finances. A failure of the bank meant a stoppage of theater tickets. I soon learned that the Savings Fund was in a condition to go through if the rush was checked. But we can't stand this panic. I'll see that Didley shan't lose a cent, if I have to pay it out of my own pocket,' said the President. This touched me, and I resolved to help him. I'll send Didley over here when he arrives," I suggested to the President, and when he comes you give him full liberty to look at the books, etc., as you have given me. Then trust to his tact.' I found Didley waiting for me at the office, and told him the facts. Over he walked, with the careless air of a capitalist, through the crowd, into the bank, followed by a yelling mass of newsboys. "I want to see the President," demanded Didley. am here; what can I do for you, 2 Mr. (calling him by his proper name). Well, Mr.President, I want to know the exact state of affairs. I have $800 deposited here, and I can't afford to lose it. But I don't want to trouble you by drawing it out, if it is safe. I ask you, on your word of honor, is it safe?' assure you that it is, on my word of honor. But as you have acted so gentlemanly, walk in and examine the books.' With one of his little hands thrust under his short coat-tails and the other placed on his breast, Didley walked into the Directors' room with all the style of a Rothschild. The rush for money was temporarily stopped by the crowd gazing on this little man. Soon Didley emerged, his face showing evident satisfaction. Did you get your money?' was the salutation of the crowd of boys, as he reached the step. 'Why should I get my money? he answered. 'This bank's all safe-I don't scare like these Dutchmen. 'Three cheers for the bank!' 'Three cheers for Didley!' went up from hundreds of youthful throats. The older folks stood awe-stricken. The confidence of the newsboys asserted itself among them, and by noon the panic was stopped, and the crowd had disappeared. The President told me afterward that Didley had saved the bank, as a continuance of the rush would have embarrassed them beyond redemption, before they had time to dispose of their sets at a proper price."~-Philtdlelphia Record.

5. August 13, 1877 The Daily Intelligencer Seattle, WA
Article from The Daily Intelligencer, August 13, 1877

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Article Text

How a Newsboy Saved a Bank. And now let me tell you how Didley, the newsboy, stopped a panic. It was soon after the failure of the Bank of Pennsylvania, and public confidence in all moneyed institutions was badly shaken. Saving funds especially felt the shock. Well,"s rumor had gone abroad about the Savings Fund then located in the building at the southeast corner of Third and Chestnut streets, where the Western Union Telegraph office is now situated. The depositors were mostly Germans, in small amounts. Didley had told me he had $800 depos ited there, and so when a rush was made on the bank I called on the President as a newspaper man to make inquiries. Didley hadn't got down town yet, but some of the newsboys started for his house to notify him, while others gathered in the crowd. All were as much interested as himself in his finances. A failure of the bank meant a stoppage of theatre tickets. I soon learned that the Savings Fund was in a condition to go through if the rush was checked. But we cant stand this panic. I'll see that Didley shan't lose a cent. if I have to pay it out of my own pocket,' said the President. This touched me, and resolved to help him. 'I'll send Didley over here when be arrives," I suggested to the President, 'and when he comes you give him full liberty to look at the books, &c., as you have given me. Then trust to his tact.' I found Didley waiting for me at the office, and told him the facts. Over he walked, with the careless air of a capitalist, through the crowd into the bank, followed by a yelling mass of newsboys. "I want to see the President,' demanded Didley. "I am here; what can I do for you, Mr. (calling him by his proper name.) "Well, Mr. President, I want to know the exact state of affairs. I have $800 deposited here, and I can't afford to lose it. But I don't want to trouble you by drawing it out if it is safe. I ask you, on your word of honor, is it safe?" "I assure you that it is, on my word of honor. But as you have acted so gentlemanly, walk in and examine the books." With one of this little hands thrust under his short coat tails and the other placed on his breast, Didley walked into the directors' room with all the style of a Rothschild. The rush for money was temporarily stopped by the crowd gazing on this little man. Soon Didley emerged, his face show ing evident satisfaction. "Did you get your money?" was the salutation of the crowd of boys, as he reached the step. Why should I get my money?" he answered. "This bank's all safe-I don't scare like these Dutchmen. Three cheers for the bank!" "Three cheers for Didley! went up from hundreds of youthful throats. The older folks stood awe-stricken. The confidence of the newsboys asserted itself among them, and by noon the panic was stopped, and the crowd disap. peared. The bank President afterwards told me that Didley had saved the bank, as a continuance of the rush would have embarrassed them beyond redemption, before they had time to dispose of their assets at a proper price. -Philadelphia Record.

6. August 17, 1877 Sharp County Record Ash Flat, Cave City, Evening Shade, AR
Article from Sharp County Record, August 17, 1877

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Article Text

How a Newsboy Saved a Bank. And now let me tell you how Didley,' the newsboy, stopped a panic. It was soon after the failure of the Bank of Pennsylvania,and public confidence in all moneyed institutions was badly shaken. Savings funds especially felt the shock. Well, a rumor had gone abroad about the Savings Fund then located in the building at the southeast corner of Third and Chestnut Streets, where the Western Union Telegraph office is now situated. The depositors mostly Germans, in small amounts. Didley had told me he had $800 deposited there, and SO when a rush was made on the bank I called on the President as a newspaper man to make inquiries. hadn't down town yet, the to him, while some Didley house of notify newsboys got started others for much gath- but his ered in the crowd. All were as interested as himself in his finances. A failure of the bank meant a stoppage of theater tickets. I soon learned that the Savings Fund was in a condition to go through if the rush was checked. But we can't stand this panic. I'll see that Didley shan't lose a cent, if I have to pay it out of my own pocket," said the President. This touched me, and I resolved to help him. I'll send Didley over here when he arrives," I suggested to the President, and when he comes him full liberty to you give look at Then the books, etc., as you have given me. trust to his tact.' I found Didley waiting for me at the office, and told him the facts. Over he walked, with the careless air of a capitalist, through the crowd, into the bank, followed by a yelling mass of newsboys. 'I want to see the President," demanded Didley. "I am here; what can I do for you, Mr. - ?? (calling him by his proper name). 'Well, Mr.President, I want to know the exact state of affairs. I have $800 deposited here, and I can't afford to lose it. But I don't want to trouble you by drawing it out, if it is safe. I ask you, on your word of honor, is it safe?' "I assure you that it is, on my word of honor. But as you have acted SO gentlemanly, walk in and examine the books. With one of his little hands thrust under his short coat-tails and the other placed on his breast, Didley walked into the Directors' room with all the style of a Rothschild. The rush for money was temporarily stopped by the crowd gazing on this little man. Soon Didley emerged, his face showing evident satisfaction. Did you get your money?' was the salutation of the crowd of boys, as he reached the step. 'Why should I get my money?' he answered. 'This bank's all safe-I don't scare like these Dutchmen. 'Three cheers for the bank!' 'Three cheers for Didley!' went up from hundreds of youthful throats. The older folks stood awe-stricken. The confidence of the newsboys asserted itself among them, and by noon the panic was stopped, and the crowd had disappeared. The President told me afterward that Didley had saved the bank, as a continuance of the rush would have embarrassed them beyond redemption, before they had time to dispose of their assets at a proper price.**-Philadelphia Record. -Now the young doctor follows the grocer's boy and notes where he leaves the watermelon.-RochesterDemocrat.

7. September 8, 1877 The Republican Oakland, MD
Article from The Republican, September 8, 1877

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# How a Newsboy Saved a Bank. AND now let me tell you how "Didley," the newsboy, stopped a panic. It was soon after the failure of the Bank of Pennsylvania, and public confidence in all moneyed institutions was badly shaken. Savings funds especially felt the shock. Well, a rumor had gone about the Savings Fund then located in the building at the southeast corner of Third and Chestnut streets, where the Western Union Telegraph office is now situated. The depositors were mostly Germans, in small amounts. Didley had told me he had $800 deposited there, and so when a rush was made on the bank I called on the President as a newspaper man to make inquiries. Didley hadn't got down town yet, but some of the newsboys started for his house to notify him, while others gathered in the crowd. All were as much interested as himself in his finances. A failure of the bank meant a stoppage of theater tickets. I soon learned that the Savings Fund was in a condition to go through if the rush was checked. "But we can't stand this panic. I'll see that Didley sha'n't lose a cent, if I have to pay it out of my own pocket," said the President. This touched me, and I resolved to help him. "I'll send Didley over here when he arrives," I suggested to the President, "and when he comes you give him full liberty to look at the books, etc., as you have given me. Then trust to his tact." I found Didley waiting for me at the office, and told him the facts. Over he walked, with the careless air of a capitalist, through the crowd into the bank, followed by a yelling mass of newsboys. "I want to see the President," demanded Didley. "I am here; what can I do for you, Mr. —" (calling him by his proper name)? "Well, Mr. President, I want to knew the exact state of affairs. I have $800 deposited here, and I can't afford to lose it. But I don't want to trouble you by drawing it out if it is safe. I ask you, on your word of honor, is it safe?" "I assure you that it is, on my word of honor. But as you have acted so gentlemanly, walk in and examine the books." With one of his little hands thrust under his short coat-tails and the other placed on his breast, Didley walked into the Directors' room with all the style of a Rothschild. The rush for money was temporarily stopped by the crowd gazing on this little man. Soon Didley emerged, his face showing evident satisfaction. "Did you get your money?" was the salutation of the crowd of boys, as he reached the step. "Why should I get my money? I don't scare like those Dutchmen," he answered. "This bank's all safe." "Three cheers for the bank!" "Three cheers for Didley!" went up from hundreds of youthful throats. The older folks stood awe-stricken. The confidence of the newsboys asserted itself among them. and by noon the panic was stopped, and the crowd had disappeared. The President told me afterward that Didley had saved the bank, as a continuance of the rush would have embarrassed them beyond redemption, before they had time to dispose of their assets at a proper price.—Philadelphia Record.