gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4bd7216bed270201
Response Measures
None
Events (1)
1.January 18, 1906Run
Cause
Rumor Or Misinformation
Cause Details
Unidentified persons telephoned depositors warning them to withdraw funds, apparently to provoke withdrawals; bank officials called the warnings unwarranted.
Measures
Bank officials publicly reassured depositors and sought to trace the source of the telephone warnings.
Newspaper Excerpt
depositors are being called by telephone and advised by persons whose identity is not known to withdraw their deposits
Source
newspapers
Newspaper Articles (4)
1.January 18, 1906Evening StarWashington, DC
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Article Text
A MENACE TO BANKS. Chicago Financiers Trying to Ferret Unknown Alarmists. CHICAGO, January 18.-Complaint has been made at several banks that depositors are being called by telephone and advised by persons whose identity is not known to withdraw their deposits from the institutions. The depositor is told with much evidence of concern that he had better get his money out of the particular institution in which he happens to have it lodged. Depositors in three of the richest banks in the city have been given this unsolicited advice. John J. Mitchell, president of the Illinois Trust and Savings Bank, said yesterday: "This business is to me inexplicable. There is absolutely no occasion for alarm, and the persons telephoning or advising depositors to take their money out of the banks are either foolish or malicious. We have been trying to run down the source of these stories. "Three banks have had this experience with their depositors. There should be some way to put an end to these unwarranted efforts to frighten timid persons."
RUN ON THE BANK Depositors Warned by Telephone to Withdraw Funds From Chicago Bank. Chicago, Jan 18.-Complaint has been made at several banks that depositors are being called by telephone and advised by persons, whose identity is not known, to withdraw their deposits from the institution. The depositor is told with much evidence of concern that he had better bet his money out of the particular institution in which he happens to have it lodged. Depositors in three of the richest banks in the city have been given this unsolicited advice. John J. Mitchell, president of the Illinois Trust and Savings bank, said yesterday: "This business is to me inexplicable. There is absolutely no occasion for alarm and the persons telephoning or advising depositors to take their money out of the banks are either foolish or malicious. We have been trying to run down the source of these stories. "Three banks have had the experience with their depositors. There should be some way to put an end to these unwarranted efforts to frighten timid persons."
3.January 19, 1906Los Angeles HeraldLos Angeles, CA
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Article Text
TRY TO CAUSE BANK RUNS Unidentified Persons Telephone De. positors in Chicago, Warning Them to Withdraw Funds By Associated Press. CHICAGO, Jan. 3.-Complaint has been made at several banks that depositors are being called by telephone and advised by persons whose identity is not known to withdraw their deposits from the institution. The depositor is told with much evidence of concern that he had better get his money out of the particular institution in which he happens to have it lodged. Depositors in three of the richest banks in the city have been given this unsolicited advice. John H. Mitchell, president of the Illinois Trust & Savings bank, said yesterday: "This business is to me inexplicable. There is absolutely no occasion for alarm and the persons telephoning or advising depositors to take their money out of the banks are either foolish or malicious. We have been trying to run down the source of these stories. "Three banks have had the experience with their depositors. There should be some way to put an end to these unwarranted efforts to frighten timid persons."
4.January 19, 1906The Montgomery AdvertiserMontgomery, AL
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Article Text
EFFORT TO START RUNS. Complaist Made by Several Banks of Underhand Methods. Chicago, Jan, 18.-Complaint has been made at several banks which are being called by telephone and asked by persons whose names are not know.n to withdraw their deposits from the institution. The depositor is told with much evidence of concern that he had better get his money out of the particolar institution in which he happens to have it lodged. Depositors in three of the richest banks in the city have been given this unsolicited advice. John J. Mitchell, President of the Illinos Trust and Savings Bank, said yesterday: "This business is to me inexplicable. There is absolutely no occasion for alarm and the persons telephoning or advising depositors to take their money out of the banks are either foolish or malicious. We have been trying to run down the source of these stories. "Three banks have had the experience with their depositors. There should be some way to put an end to these unwarranted efforts to frighten timid persons."
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.
