1.
March 13, 1919
Alexandria Gazette
Alexandria, VA
Click image to open full size in new tab
Article Text
PAYS DEPOSITORS Unfounded Rumers Result in AllDay Run Upon Institution Richmond, March 13.-Hundreds of depositors who pushed their way into the counting room of the Church Hill Bank from 10 o'clock Wednesday morning until 6 o'clock in the afternoon had only to present their checks and passbooks to obtain immediate payment of every dollar due them. From time to time during the course of the afternoon, runners from one of the strongest banks in Richmond hurried into the Church Hill Bank with large chests holding from $20,000 to $40,000 in order to furnish funds for those wishing to withdraw their accounts. The run on the bank was caused by an unfounded rumor. This rumor is said to have originated among the colored populace of Church Hill and later to have spread throughout that section and to other parts of the city. It is said to have been whispered about for more than a week that the bank was insolvent. Whv the climax should have come Wednesday morning may never be explained.
2.
March 13, 1919
The Richmond Virginian
Richmond, VA
Click image to open full size in new tab
Article Text
Whisperings which had been bruited about for a week that the Church Hill bank was insolvent had their climax yesterday morning when a run on the institution took place. Many small depositors withdrew their accounts. The run continued from 10 o'clock in the morning until's o'clock in the evening. Every demand on the part of depositors was met without an instant's hesItation by the institution. Three paying tellers were kept busy throughout the day honoring checks and pass books. with which the bank was flooded. The rumor which caused the run is said to have originated among negroes and later spread throughout the neighborhood and to other parts of the city. "We closed our doors last night with everyone apparently satisfied. There is plenty of money on hand and no cause for alarm. As to the amount withdrawn it is impossible for us to tell as the figures have not been checked up. The money withdrawn yesterday will not affect us in the least." was the statement made by Oscar Parrish, president of the Church Hill bank in commenting upon the run made upon that institution yesterday In talking of the run on the branch of the Church Hill bank in Fulton, Mr. Parrish stated. "We got along nicely at that point, everything being very quiet and no disturbance whatsoever, Six new accounts were opened with our branch bank and eighteen at the main bank." Despite the fact that for a time yes#erday morning the run proved sensational the majority of the depositors of the bank have the utmost confidence in the institution. One of its depositors, Rev. J. McKeefrey, has offered $500 as a reward for the arrest and conviction of the party responsible for the rumor causing the depositors to flock-to the bank and withdraw their accounts yesterday. At rivor when It was seen by officials that something should be done to
3.
March 13, 1919
The Richmond Virginian
Richmond, VA
Click image to open full size in new tab
Article Text
Unfounded Rumors Start Run on the Church Hill Bank Many Small Depositors Withdraw Their Savings, But None of the Large Ones Lose Faith in the Institution-Clearing House Association Issues Statement.
4.
March 13, 1919
The Richmond Virginian
Richmond, VA
Click image to open full size in new tab
Article Text
pay out as much money as was wanted. The bank will open this morning at the regular hours. The branch of the Church Hill bank in Fulton also had A run yesterday, but there was no trouble in making all payments when called for. The vaults of several large banks of the city were kept open yesterday ovening to give prompt assistance to the Church Hill bank if needed. and according to a statement by Mr. Parrish at 4:30 P. M. yesterday, no assistance had been called for up to that time. Reports have it that later on a large reserve supply of cash was carried to the bank to be drawn on in case of emergency. Large depositors among the business element of Church Hill had no part in the run yesterday. although many were on hand to assure less far-sighted people as to the safety of their money. Rumors supposed to have started sev. eral days ago which have not been definitely traced seem to be entirely responsible for the misunderstanding. All, that breathless patrons could say when they arrived to demand their money was that they had heard from somebody or other that the bank was insolvent. The conditions at the bank were not serious at any time of the day in spite of the continuous stream of callers. The Church Hill bank is a member of the Federal Reserve System and of the local Clearing House association and is a very strong financial institution for its size. It is backed personally by a number of men powerful in financial circles. According to reports from the Institution it is at this time in a grood business condition, and will not be affected by the temporary panic. Peliceren were on hand to handle the crowds which at times Increased to several hundred, but everything was conducted in an orderly manner both Inside and entaide the bank. of the Church Hill Twenty-afth and apposite old st
5.
March 14, 1919
Richmond Times-Dispatch
Richmond, VA
Click image to open full size in new tab
Article Text
LARGE DEPOSITS MADE WITH CHURCH HILL BANK Patrons Encouraged by Confidence of Business Men in Solvency of Institution, As evidence of their confidence in the institution, many persons and business firms made large deposits in the Church Hill Bank yesterday, and there were but few withdrawals of accounts because of the unfounded rumor which went over the city Wednesday that the bank WRS in an insolvent condition. During the day there was an increase in deposits of about $100,000. Little uneasiness about the condition of the bank prevailed yesterday after the Clearing House Association Issued its statement that the affairs were in fine shape and that seven large banks would furnish the money to meet any and all demands. This notice was posted on the door of the Church Hill Bank, and served materially to restore confidence. President Oscar Parrish stated last night that conditions were in every way favorable, and that deposits were returning with remarkable rapidity. Only small depositors withdrew their accounts, he said. The bank will continue to make payment to all who desire it. Its resources are ample to meet all demands. in addition to the backing of the largest Main Street banking houses, officials assert. A reward of $500 has been offered for the arrest of the person who started the rumor responsible for the run on the bank. The police and detectives are working on the case.
6.
March 15, 1919
Richmond Times-Dispatch
Richmond, VA
Click image to open full size in new tab
Article Text
Detectives have as yet been unable to find a clue* as to who started the rumor that caused Wednesday's run on the Church Hill Bank, although they have been working assiduously since the rumor became current. Conditions at the bank have returned to normal. and officers say that practically all deposits withdrawn have been returned.
7.
March 19, 1919
Richmond Times-Dispatch
Richmond, VA
Click image to open full size in new tab
Article Text
Former depositors in the Church Hill Bank who withdrew their accounts last week when a rumor started a run on the institution were urged yesterday by bank officials on Main Street to return their accounts there instead of placing them clsewhere. Prominent bankers assured a number of the former patrons of the Church Hill Bank that it was solvent and in good financial condition. Deposits since the run have brought the total of deposits up to a figure larger than that before the numerous withdrawals.
8.
March 19, 1919
The Richmond Virginian
Richmond, VA
Click image to open full size in new tab
Article Text
FINANCIERS LOYAL TO CHURCH HILL BANK In addition to the backing that the Richmond Clearing-House association gave the Church Hill bank during the "run" on the last-named institution last week. and the action of several banks in keeping their vaults open in order that currency might be rushed to the institution in the event that it was needed, there was a movement in the down town district, it developed yesterday, to discourage depositors who showed an inclination to place their accounts with other banks after the "run." Bankers, It is said, told prospective customers that the Church Hill bank was solvent and in excellent condition and suggested that they return their money to that institution. a In commenting on the matter. prominent banker said yesterday: "There probably never has been a greater demonstration of loyalty in Richmond financial circles."