Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health
Description
Multiple contemporaneous newspapers (Jan 12–14, 1904) report a run on the savings department of the First National Bank of Superior, WI. The bank met withdrawals (kept open at night, paid out large sums, received currency shipments) and the run subsided; there is no mention of a suspension, receivership, or permanent closure. Cause is not identified in the articles.
Events (2)
1.September 25, 1888Chartered
Source
historical_nic
2.January 13, 1904Run
Cause Details
Newspapers state it is unknown what caused the run; articles explicitly say cause is unknown.
Measures
Bank kept open at night to pay depositors, paid out large sums in gold/currency, received shipments (e.g., $150,000 from St. Paul; additional currency from Chicago), stockholders met and re-elected board.
Newspaper Excerpt
The run on the First National bank continued until 1:30 this morning when the last of the savings depositors was paid and the officials closed the doors for the night.
Source
newspapers
Newspaper Articles (11)
1.January 13, 1904The Fargo Forum and Daily RepublicanFargo, ND
Click image to open full size in new tab
Article Text
THE BANK RUN The Depositors of the Superior Savings Bank Are Still After Their Money. Superior, Wis., Jan. 13.-The run on the First National Bank, which started yesterday, continued until 1:30 this morning when the last of the saving depositors was paid and the officials closed the doors for the night and went home. The bank officials say the bank can stand a run as they have plenty of cash. The run on the bank was resumed this morning at IO o'clock when about fifty depositors of the savings department were in line. Cashier Benson said he was glad to have an opportunity of showing the bank's ability to meet every demand.
2.January 13, 1904The Saint Paul GlobeSaint Paul, MN
Click image to open full size in new tab
Article Text
BANK KEEPS OPEN AT NIGHT TO PAY First National of Superior Is Determined Depositors Shall Be Satisfied. Special to The Globe. SUPERIOR, Wis., Jan. 12.-The First National bank did not close this afternoon. It is open tonight on account of the run on the savings department started this morning. The bank officials have not been out to eat since morning and are paying the savings depositors in gold as fast as they come. It is unknown what caused the run. The bank officials say that they will keep open until every person gets his money. The bank is capitalized at $200,000 with total deposits of clost to $1,500,000. Business men have made deposits instead of drawing out and believe the institution is sound. A quarter of a million dollars in cash arrived from St. Paul tonight to help meet the run.
3.January 13, 1904Rock Island ArgusRock Island, IL
Click image to open full size in new tab
Article Text
Run on a Wisconsin Bank. Superior. Wis.. Jan. 13.-A run was started on the savings department of the First National bank, and before long the line of depositors extended out in the street. A notice issued by the bank's officials stated that the paying teller's window would remain open at night until the last person in line had been paid.
EVERYONE PAID Run on the First National at Superior a Great Surprise. Superior, Wis., Jan. 13.-The run on the First National bank continued until 1:30 o'clock this morning, when the last of the savings depositors who had- stood in line for many hours was paid and the tired bank officials locked the doors for the night and went home. William B. Banks, president, said: "The First National can pay dollar for dollar on its deposits and is in a perfectly solvent condition. I have no reason to advance for the so-called run. The money which is being drawn out is on savings deposits, and our commercial deposits today and for the past week have been as large as usual." Several business men who are. acquainted with the condition of the bank expressed their surprise at the run on what has always been considered one of the strongest financial institutions of the northwest. The run on the bank was resumeed this morning. At 10 o'clock, the hour for opening, nearly fifty depositors in the savings department were in line. Cashier Benson said: "The bank received $150,000 in currency last night from St. Paul and $200,000 from Chicago is scheduled to reach us this morning. We are glad of this opportunity to prove our ability to meet every demand."
5.January 14, 1904The Times DispatchRichmond, VA
Click image to open full size in new tab
Article Text
RUN ON BANK HAS ENTIRELY SUBSIDED (By Associated Press.) SUPERIOR, WIS., Jan. 13.-The run on the sayings department of the First National Bank entirely subsided this at1ernoon two hours before the regular closing time. A quarter of a million dolJars was paid out yesterday and about $75,000 to-day. Deposits to.day were in excess of withdrawals.
6.January 14, 1904Ottumwa Tri-Weekly CourierOttumwa, IA
Click image to open full size in new tab
Article Text
BANK MAKES GOOD. Wisconsin Institution Meets Run With Money Promptly. Superior, Wis., Jan. 13.-The run on the First National bank which started yesterday morning continued until 1:30 o'clock this morning. When the bank was reopened today the run was resumed but all demands were promptly met.
7.January 14, 1904Americus Times-RecorderAmericus, GA
Click image to open full size in new tab
Article Text
RUN ON BANK ENDS. Last of Depositors Paid-Tired Officials Close Doors. Superior, Wis., Jan. 13.-The run on the First National bank, which started yesterday morning, continued until 1:30 this morning when the last of the savings depositors who had stood in line many hours, was paid and the tired bank officials locked the doors for the night and went home. Several business men of Superior, who are acquainted with the first bank express surprise at the run on what has always been considered one of the strongest financial institutions of the northwest. The run on the bank was resumed this morning. Cashier Benson, of the bank, said: "The bank received $150,000 in currency last night from St. Paul and $200,000 from Chicago will reach us today. We are glad of this opportunity to prove our ability to meet every demand."
8.January 14, 1904The Savannah Morning NewsSavannah, GA
Click image to open full size in new tab
Article Text
Run on Bank Subsided. Superior, Wis., Jan. 13.-The run on the savings department of the First National Bank entirely subsided this afternoon-two hours before the regular closing time. A quarter of a million dollars was paid out yesterday, and about $75,000 to-day. Deposits today were in excess of withdrawals.
9.January 14, 1904Rock Island ArgusRock Island, IL
Click image to open full size in new tab
Article Text
Run Ends on the Superior Bank. Superior, Wis., Jan. 14.-The run on the savings department of the First National bank, which started Tuesday morning, has entirely subsided. A quarter of a million dollars was paid out Tuesday, according to Cashier Benson. and about $75,000 yesterday, but the deposits were in excess of the withdrawals.
10.January 16, 1904The Van Buren PressVan Buren, AR
Click image to open full size in new tab
Article Text
RUN ON SAVINGS DEPOSITS Savings Department of Superior, Wis., Bank Suffers a Run. The Bank Officials Declare the Instltution is Solvent and Will Meet Every Demand. Superior, Wis., Jan. 14.-The run on the First national bank was resumed Wednesday morning. At ten o'clock, the hour for opening, nearly 50 depositors in the savings department were in line. The run started Tuesday morning, and the bank kept open until 1:30 o'clock Wednesday morning, when the last of the savings depositors who had stood in line many hours, was paid and the tired bank officials locked the doors for the night and went home. William B. Banks, president of the First national bank, said: "The First national can pay dollar for dollar on its deposits, and is in a perfectly SCIvent condition. I have no reason to advance for the so-called run. The money which is being drawn out is on savings deposits, and our commercial deposits to-day and for the past week have been as large as usual." Vice-President Robert Kelly said: "There was a meeting of the stockholders of the bank to-day, and they went into the affairs of the institution, expressed their confidence in the present management and re-elected the entir old board of diretors." Cashier Benson said: "The bank received $150,000 in currency last night, from St. Paul, and $200,000 from Chicago is scheduled to reach us this morning. We are glad of this opportunity to prove our ability to meet every demand."
11.January 16, 1904Ottumwa Tri-Weekly CourierOttumwa, IA
Click image to open full size in new tab
Article Text
Run on Bank is Over. Superior, Wis., Jan. 14.-The run on the savings department of the First National bank, which started Tuesday morning had entirely subsided yesterday afternoon, two hours before the regular closing time. A quarter of a million of dollars was paid out Tuesday, according to Cashier Benson, and about $75,000 yesterday, but the deposits for yesterday were in excess of the withdrawals.
