21961. Bennington County Savings Bank (Bennington, VT)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
December 18, 1884
Location
Bennington, Vermont (42.878, -73.197)

Metadata

Model
gpt-5-mini
Short Digest
6d67a26f

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

A brief run occurred in mid-December 1884 driven by malicious rumors of insolvency; trustees issued a statement and the run soon ceased with small net withdrawals. No suspension or closure is reported.

Events (1)

1. December 18, 1884 Run
Cause
Rumor Or Misinformation
Cause Details
Malicious rumors that the bank was about to fail; trustees called the rumors false.
Measures
Trustees issued a public statement/circular denying insolvency and asserting the bank was sound.
Newspaper Excerpt
The trustees are out with a statement branding the rumor of the bank's insecurity as absolutely false and saying: This bank is in a condition perfectly sound and safe. The run has practically ceased.
Source
newspapers

Newspaper Articles (2)

Article from Alexandria Gazette, December 18, 1884

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Article Text

Run on a Bank. BENNINGTON, Vt., Dec. 18.-Yesterday a run was started on the Bennington County Savings Bank. The trustees are out with a statement branding the rumor of the bank's insecurity as absolutely false and saying: "This bank is in a condition perfectly sound and safe." The run has practically ceased.


Article from The Middlebury Register and Addison County Journal, December 26, 1884

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Article Text

State and Vicinity. Col. Kittredge Haskins of Brattleboro has been re-appointed United States district attorney for the district of Vermont. Isaac Cochran. an aged man of Newport Center, was getting over a fence when the top rail rolled and he fell, receiving injuries which resulted in his death. His age was 85 years. Governor Pingree has pardoned Edward Gaffney, who was convicted at Woodstock of assault with intent to kill nearly two years ago, and sentanced to confinement in the state prison for a term of six years. At No. Ferrisburgh. last Monday night. the house of Peter Siples was entirely destroyed by fire. So much headway had the fire made when it was discovered that but a few articles were saved. A defective chimney is supposed to be the cause. The managers of the Bennnington Battle Monument association have unanimously voted to accept the design of Professor Weir. The design is for a monument of rough granite some 50 feet high. surmounted by a statue 15 feet high. The statue will represent General Stark or the figure of one of his minute men," that won the famous fight. The current term of the State Normal school at Castleton, will close on January second, proximo. December 26 to January 1, there will be examinations; Jan. 1, evening, entertainment by the "A" class at the town hall, Jan. 2, 2 o'clock, p. m., address by Hon. Jas. K. Batchelder, speaker of the Vermont House of Representatives, followed by the conferring of diplomas. music by Rutland orchestra; evening, reception at the school parlors. There was a "run" on the Bennington county savings bank. at Bennington, last week Wednesday and Thursday. An associated press dispatch says: Less than $4000 out of a total deposit of $185.000 was withdrawn and $1100 of this is in notes for funds wanted three months hence. The bank trustees in a circular assert that the rumors put afloat that the bank was about to fail were malicious. This bank has not met with any losses nor has there been anything in their knowledge to cause the rumor. Of 1000 depositors 16 only presented their books for settlement. Last week A. L. Town had a law case with N. C. Lawson before S. B. Fair, justice of the peace at North Calais. The lawyers instead of going to Calais and having an all day's justice trial. went to the telephone at the hour set for trial and conducted the proceedings in court 20 miles away so that judgment was rendered, bail entered and an appeal taken to the next term of Washington county court and all done within half an hour. The clients are anxious to see the attorneys' bills in such a trial to ascertain who has the benefit of trying a case in so short a time by telephone, the parties or the Nt