gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
afb5f66569843d50
Response Measures
Accommodated withdrawals, Capital injected
Events (2)
1.January 14, 1864Chartered
Source
historical_nic
2.December 7, 1905Run
Cause
Rumor Or Misinformation
Cause Details
A passerby's remark about an art store seized was misheard as 'the First National bank has failed,' triggering withdrawals.
Random Run
Yes
Random Run Snippet
misunderstood remark about art store; unfounded rumor, bank solvent
Measures
Directors mingled with crowd and all applicants were paid promptly; other banks offered assistance and businessmen made deposits.
Newspaper Excerpt
A run on the First National bank of this city was inaugurated today ... The run was caused by an unfounded rumor that gained circulation yesterday.
Source
newspapers
Newspaper Articles (10)
1.December 7, 1905The Topeka State JournalTopeka, KS
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Article Text
ANOTHER BANK SAVED. Business Men Rally to Support and Stop a Run. York, Pa., Dec. 7.-A run on the First National bank of this city was inaugurated today and up to noon hundreds of small depositors had withdrawn their savings. The run was caused by an unfounded rumor that gained circulation yesterday. An art store on the opposite side of the street had been seized by the sheriff. A passerby remarked to a friend "that the art store across from the First National bank had failed." Someone caught the last part of the sentence and a rumor that "the First National bank has failed," spread rapidly. Long before the regular time for opening today a large crowd of depositors gathered in front of the institution. Directors of the bank mingled in the crowd and succeeded in allaying the fears of many. All applicants were paid off promptly. Other banks of the city proffered assistance while prominent business men made large deposits in the bank. The First National bank is one of the most prosperous banks in York. Its last statement shows resources of $2,379,464 and deposits of $2,287,100. It carries $50,000 in government funds.
GROUNDLESS RUMOR CAUSES SENSELESS RUN. York, Pa., Dec. 7.-A run on the First National bank was inaugurated today and hundreds of small depositors withdrew. The run was caused by a rumor. An art store opposite the bank had been seized by the sherLff. A passerby remarked to a friend: "That art store opposite the First National bank has failed." Some one heard only the last five words and the rumor spread that the bank had failed.
3.December 7, 1905The Fargo Forum and Daily RepublicanFargo, ND
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Article Text
MISCONSTRUED REMARK STARTED RUN ON BANK York, Pa., Dec. 7.-An art store across the street from the First National bank was seized by the sheriff yesterday. A passerby remarked to a friend "the art store across from the First National bank has failed." Some one within hearing heard the last part of the sentence and told his friends the This First National bank had failed. started a run on the bank. The bank met all demands and is perfectly solvent.
4.December 8, 1905Los Angeles HeraldLos Angeles, CA
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Article Text
RUN ON PENNSYLVANIA BANK Excitement Caused by Misunder= stood Remark of a Passerby By Associated Press. YORK, Pa., Dec. 7.-A run on the First National bank of this city was inaugurated today and up to noon hundreds of excited depositors had withdrawn their savings. The run was caused by an unfounded rumor that gained circulation yesterday. An art store on the opposite side of the street had been seized by the sheriff. A passerby remarked to a friend that "the art store across from the First National bank had failed." Some one caught the last part of the sentence and a rumor that "the First National bank had failed" spread rapidly. Long before the regular time for opening today a large crowd of depositors gathered in front of the institution. Directors of the bank mingled in the crowd and succeeded in allaying the fears of many. All applicants were paid off promtly. Other banks of the city proffered assistance while prominent business men made large deposits in the bank. The First National is one of the most prosperous banks in York. Its last statement shows resources of $2,379,464 and deposits of $2,287,109. It carries $50,000 in government funds.
Wild Rumor Starts Run on Bank. York, Pa., Dec. 7.-A run on the First National bank was inaugurated today and hundreds of small depositors withdrew. The run was caused by a rumor. An art store opposite the bank had been seized by the sheriff. A passerby remarked to a friend. "That art store opposite the First-National bark has falled." Someone heard only the last words and the rumor spread that the bank had failed.
Run on National Bank. York, Pa., Dec. 8.-A run on the First National bank of this city began during the day and up -to noon hundreds of small depositors had withdrawn their deposits. The First National is one of the most prosperous banks in York. It is capitalized at $300,000 and has a surplus of $100,000. Its last report shows resources of $2,379,464 and deposits amounting to $2,287,109.
7.December 8, 1905The Guthrie Daily LeaderGuthrie, OK
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Article Text
RUN ON A, BANK Was Caused by a Peculiar Unfounded Rumor, York, Pa., Dec. 8.-A run on the First National bank of this city was Inaugurated today and up to noon hundreds of small depositors had withdrawn their savings. The run was caused by an unfounded rumor that gained circulation yesterday. An art store on the opposite side of the street had been seized by the sheriff. A passerby remarked to a friend that "The art store across from the First National bank has failed." Some one caught the last part of the sentence and a rumor that "The First National bank has failed" spread rapidly. Long before the regular time for opening today a. large crowd of depositors gathered in front of the institution. Directors of the bank mingled in the crowd and succeeded in allying the fears of many. All applicants were promptly paid gff. Othor banks in the city proffered assistance, while prominent business men made large deposits in the bank. The First National is one of the most prosperous banks In York. It carries $50,000 in government funds.
8.December 9, 1905Morris TribuneMorris, MN
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Article Text
Run on National Bank. York, Pa., Dec. 8.-A run on the First National bank of this city began during the day and up to noon hundreds of small depositors had withdrawn their deposits. The First National is one of the most prosperous banks in York. It is capitalized at $300,000 and has a surplus of $100,000. Its last report shows resources of $2,379,464 and deposits amounting to $2,287,109.
9.December 14, 1905The County RecordKingstree, SC
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Article Text
At the North. There are rumors of possible crimina! action following the completion of the insurance inquery in New York. An unfounded rumor that the First National Bank of York, Pa., had failed started a run on the institution. Gov. Robert F. Le Follette was elected United States Senitor by the Legislature of Wesconsin.. Mrs. Ira Barry, who defied the authorities of Girriard, Kan., to remove her from a railway car, which she defended with a pistol for five days, was captured by strategy.
10.December 16, 1905Virginia GazetteWilliamsburg, VA
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Article Text
At the North. There are rumors of possible criminal action following the completion of the insurance inquery in New York. An unfounded rumor that the First National Bank of York, Pa., had failed started a run on the institution. Gov. Robert E. Le Follette was elected United States Senitor by the Legislature of Wesconsin. Mrs. Ira Barry, who defied the authorities of Girriard, Kan., to remove her from a railway car, which she defended with a pistol for five days, was captured by strategy.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
