Chestnut Street National Bank

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 3723
Charter Number: 3723
Start Date: July 10, 1891
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: 80b272d8

Response Measures

Accommodated withdrawals

Description

The article (New-York Tribune, 1891-07-11) describes heavy withdrawals (the run $90,000) at the Chestnut Street National Bank and directors scraping together funds to meet demands. There is no mention of a subsequent suspension, closure, reopening, or receiver assignment in the provided excerpt. OCR errors in the text were corrected when interpreting phrases (e.g., run $90,000, directors... scraping hands to meet the demands).

Events (1)

1. July 10, 1891 Run

Cause: Bank Specific Adverse Info
Cause Details: Large withdrawals (~$90,000) following allegations/rumors about misappropriation/diversion of city/state funds and adverse publicity about the bank's handling of funds.
Measures: Directors gathered funds (scraping hands together) to meet withdrawal demands and keep the bank afloat.
Newspaper Excerpt: the run $90,000. And when the directors ... scraping hands on to meet the demands of and to keep the bank on
Source: newspapers

Newspaper Articles (1)

1. July 11, 1891 New-York Tribune New York, NY

Article from New-York Tribune, July 11, 1891

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Article Text

he continued. Colonel McClure has been to see me about having Magistrate Bob Smith appointed as one of the fellow Mr. Mayor, I answered, I cannot appoint him for Colonel McClure. I do not want to appoint that man, anyhow, but if you want me to do It I'll name him. Mayor Fitler wanted to oblike Colonel McClure Then I agreed to appoint Major Smith that he sent for me and wanted Richard J. Lennon, and Not Bill said Singerly long so. after that told Democrat. he me that had appointed mercantile appraiser, and promised to do what he could for him. He asked me to make his promise good. said that would vote for Lennon. afterward learned that Mat Quay was pushing Crawford for the place. and that the Auditor General who was Quay's man, would support Crawf rd. Strong pressure was brought to bear on me by Quay and his men- Porter, Martin and others- but I held to my Quay, however, +pulled Singerly and got to promise. withdraw Lennon, promising him to keep $100, came 000 him of the State funds continuously In the me Chestnut twice it me about got and Street National Bank. to promise that would see that has and did Singerly so was kept. Quay's pledge there now H. that money Yard knows, and ought to know, no one deal those of great better than he, where pool, or whatev call with to it. funds have gone. He was in Lucas the and Marshall choose may surprise you to learn that Marsh Yard along. account to the tune mark you, that overdraw took the bank. the run $90,000. And when the directors during that dollar every together our scraping hands on to meet the demands of and to keep the bank on of some the first the ended think he did interview Mr. Bardsley has been said The Inquirer' in ridiculous second some the charges which to no reason attack has Elverson made. In this in way attacked to be allow way. the other be the him to word McClure keeps up the and demand too. should unishment go He's pretty fellow to should investip strict reform astound the would record his direct in his another There' Singerly BIII at Look munity should he resterday said than men are There more me of alongside treasury of the city you must explain clearly where the There is one thing that $000,000 went that Bank yesterday told say the that the due bills will tell but all do anything of the kind that They in money that who rumor that it was divided among promine men got business some that and of it and deposited I answer. to absurd too gave Marsh became don't know time what to time, receiving in return know I man don't Why, keep that depends the know both strong want don't Now will As and hour judge any have after wishes He find. will made be that with him talk If with Wilson me truly Wilson ought to report who bor judges three the money city borrowed judge of them did borrow but it was from loaned Two them. They were Ashmead and Fin the Mr McWade explained that it was afterward the na learned Bard std that MeWade Mr. advance salary. partly of the library would be discharged of a charge on trial is awaiting who Yard. did but he the Bardsley room the which He that and Mr. received since the the that probably taking in you hat influenced his room in here, them to keep committee the to began Bank 2.510 had doubt after legality been H H. Yard faint recollection that I have met him. if however, that I would know him him been stated that you quarrelled with the true Lucas that Mr quarrelled with her. state what took place when Mr. Marsh vis ited M Marsh my house about 8 o'clock Lacey in at he had been to se Mr. stock He the informed him there was more Keyston wanted right. was believed was bank the if whether to it. assist and stock take would ganized assist do to will you What He him told it. reason will He asked take things about Pasted whole Mr. Marsh apparently felt that because assist bank he could Washington me to with think felt that was in a delicate position, and balance in the Keystone Bank at can the bank had closed that then that bank to put SO much money in it afte in last loan from the falled. bank before the bank This concluded Mr. Hammet's questioning. THE GLASSHOPPER PEST IN THE SOUTHWEST of Kansas City, Mo. July 10.--Henry Smith city.