State Savings Bank (Butte, MT)

Episode Information

Episode UID
2212933991239
Episode Type
Run Only
Bank Type
savings
Bank ID
221293399 hash
Start Date
March 12, 1903
Location
Butte, Montana (46.004, -112.535)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
11c9a11db30351f4

Response Measures

None

Events (1)
1. March 12, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
Canard/false report that president John A. Creighton had withdrawn his support; malicious rumors circulated.
Measures
Wealthy citizens and correspondent supporters sent large deposits (reports of $500,000) and local businessmen made large deposits; officials considered invoking 30-day notice if run continued.
Newspaper Excerpt
A run was started on the State Savings bank this morning...The run is supposed to have been started by malicious rumors having their origin in politics.
Source
newspapers

Newspaper Articles (11)
1. March 12, 1903 The Seattle Star Seattle, WA
Article from The Seattle Star, March 12, 1903

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Article Text

RUN ON A BANK EXCITEMENT IN BUTTE OVER REPORT OF INSECURITY OF A BIG INSTITUTION BUTTE. March 12-A run was started on the State Savings bank this moring. and a panie exists among depositors. The street is crowded with excited people. Pay. ments are being made on checks as fast as presented. although the bank officials say they will have to take refuge in the 30-day notice law if the run continues. The run is supposed to have been started by mallcious rumors having their origin in politica. The report is that the bank was such a heavy backer of Helns in his war on the Amalgamated copper company, that It is now heavily embarrassed.

2. March 13, 1903 The Butte Inter Mountain Butte, MT
Article from The Butte Inter Mountain, March 13, 1903

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Today no sign remained of yesterday's run on the State Savings bank. That institution was doing business as ever, but lacking the crowd of excited depositors in the corridors and before the counters. The run is over and the State Savings bank has not been harmed a whit by the trouble through which it passed yesterday. Telegrams offering aid have been pouring in today from many friends of the institution. One, which came this morning from W. L. Moyer of New York, is particularly interesting. Mr. Moyer left here a year or two ago to go to New York, prior to his departure having been the Moyer of the Daly, Donahoe & Moyer now the He is at present Trust Banking company. company, Daly Bank presi- of & dent of the Shoe & Leather bank, one financial and he the York, great recently institutions became the of head New of a new $8,000,000 trust company. Here is his telegram, sent from New York: "T.M. Hodgens, Cashier State Savings Bank: Just returned home. Morning papers tell of run on bank. Do you need any help? Answer. "W. L. MOYER." CREIGHTON SENDS WIRE. Other telegrams of a similar character were received. Here is the telegram sent late yesterday afternoon by the president of the institution: Omaha, Neb., March 12, 4:20 p. m.T. M. Hodgens, Cashier, or Board of Directors, State Savings Bank: Report that I have sold my State Savings bank stock is utterly false. My State Savings stock is not for sale at any price. "J. A. CREIGHTON, President." At a meeting of the executive board of the Woman's club of Butte this morning it was decided unanimously to retain the club deposits in the bank. A resolution was passed expressing confidence in the stability of the institution. Last night at a meeting of the bank's board of directors the following resolution was passed: "Resolved, That whereas, the business men of Butte have unanimously and without reserve kindly and persistently tendered their assistance to this bank, both financial and with their personal influence, many of them devoting their valuable time; now, therefore, be it "Resolved, That we, the directors, tender our heartfelt thanks and warm appreciation to the merchants and others who so assisted us in allaying fears on the part of the depositors." BANK STATEMENT. Following is the last statement of the (Continued on Page Eleven.)

3. March 13, 1903 The Butte Inter Mountain Butte, MT
Article from The Butte Inter Mountain, March 13, 1903

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ALL TROUBLE IS OVER Run on State Savings Bank Is Very Quickly Ended. MANY OFFERS OFHELP Bankers in New York and Omaha Ready With Money. WIRE TO BUTTE MEN No Sign of Yesterday's Flurry Was in Sight Today. J. O. Hodgens, assistant cashier of the State Savings bank and now in charge of that institution, and Judge G. W. Stapleton, vice-president of the bank, made the following statement this morning: "Please publish in the Inter Mountain this evening our unqualified denial of the rumors that have been afloat that the Amalgamated Copper company or any of its interests had anything to do with starting the run on our bank. These stories are among those put in circulation by some designing or irresponsible persons, and no doubt had their effect in frightening depositors. So far from these stories being true, we have every reason to know that they are baseless fabrications. The officers and the institutions allied with the Amalgamated Copper company were the first to tender their services. The action of Mr. HennesSV of Mr. Ryan, of Mr. Wood, of Mr. Carroll and others is ample evidence that their desire was to protect and help rather than injure us. In this connection we want to testify our appreciation of the splendid manner in which the financial and commercial interests of Butte have stood by us. It was a remarkable exhibition of friendliness and one which we appreciate fully."

4. March 13, 1903 The Kalispell Bee Kalispell, MT
Article from The Kalispell Bee, March 13, 1903

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Run is Made Upon the State Savings Bank at Butte Yesterday. THE INSTITUTION WAS IN PERIL All Day, But the Backers of the Concern Made Themselves Busy Rustling New Depositors and Finally Succeeded in Stemming the Tide. Butte, March 12.-On account of depositors withdrew their funds, rumors said to have been absolutely many others made new and large deunfounded. a run was started on the posits, and many business men, to State Savings bank in Butte yestershow their thorough confidence in day morning. and was continued unthe institution and its stability. til the bank closed for the day at 3 placed thousands and thousands of o'clock in the afternoon. After that dollars with the bank while the run hour it seemed to have about spent was in progress. When the bank itself, and the bank was reported by closed for the day. an official anits managers to be in quite as good nouncement was made that it would condition as it was in the morning open as usual at 10 o'clock this mornwhen the run started. While many ing, ready to meet all demands on it.

5. March 13, 1903 Evening Star Washington, DC
Article from Evening Star, March 13, 1903

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A run on the State Savings Bank at Butte, Mont., was stopped by wealthy citizens coming to the rescue with heavy deposits.

6. March 13, 1903 The Times Dispatch Richmond, VA
Article from The Times Dispatch, March 13, 1903

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RUN ON BANK Wealthy Men Rushed to the Aid of the Institution. (By Associated Press.) BUTTE, MONT., March 12.-A run on the State Savings Bank to-day caused no little sensation in financial circles. The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is sublit to have sent a. half million dollars to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000, and at this the excitement subsided. The bank is one of the strongest in the State.

7. March 13, 1903 The Kalispell Bee Kalispell, MT
Article from The Kalispell Bee, March 13, 1903

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Heinze's luck stood him in good hand at Butte yesterday, or rather his emphatic courage and rustling ability. His enemies furthered a run on his bank, tne State Savings, and came very near wrecking that institution, but F. Augustus marshaled all his forces and stemmed the flood of disaster, though, according to the dispatches he was hard pressed. Heinze has again clothed himself with the august title of Young Napoleon of finance.

8. March 13, 1903 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, March 13, 1903

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HEAVY RUN ON BUTTE SAVINGS INSTITUTION Butte, Mont., March 12.-A run on the State Savings bank today caused no little sensation in financial circles. A number of prominent men have come to the aid of the institution and it is out of danger. The run was caused by a canard to the effect that John A. Creighton, the Omaha millionaire, who is president of the bank, had withdrawn his support. He is said to have sent $500,000 to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000, and at this the excitement subsided.

9. March 14, 1903 The Denison Review Denison, Dow City, IA
Article from The Denison Review, March 14, 1903

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Haugh& Brummer BROADWAY CLOTHIERS. Ames Decides to Stand Trial. Manchester, N. H., March 13.Adelbert A. Ames, formerly mayor of Minneapolis and fugitive from justice, contrary to the advice of his physicians, and it is believed without the knowledge of his counsel, has decided to return to Minneapolis and stand trial. He will leave tomorrow. He will be accompanied by Mrs. Ames and the three children. His decision to return was voluntarily made, but it was not announced until his wife's relatives had come forward with sureties enough for his bail of $12,500 under the habeas corpus proceedings. Canard Causes Run on Butte Bank. Butte, Mont., March 13.-A run on the State Savings bank caused no little sensation in financial circles. The run was caused by a canard, to the effect that John A. Creighton, the Omaha millionaire, who is president of the bank, had withdrawn his support. He is said to have sent $500,000 to the bank. In addition, local men of wealth rushed in deposits of from $5.000 to $50.000, and the excitement subsided. The bank is one of the wealthiest in the state.

10. March 14, 1903 The News & Observer Raleigh, NC
Article from The News & Observer, March 14, 1903

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Run on a Bank at Butte. I (By the Associated Press.) Butte, Mon., March 12.-A run on the State Savings Bank today caused no little sensation in financial circles. The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is said to have sent a half million dollars to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000 and at this excitement subsided. The bank is one of the strongest in the State.

11. March 14, 1903 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, March 14, 1903

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A CANARD RESPONSIBLE. Run on Butte Bank Does Not Injure It Much. Butte, Mont. March 12-A run on the State Savings bank today caused no litthe sensation in financial circles. The run was caused by 8 canard to the effect that John A Crighton. the Omaha millionaire, who is president of the bank, had had withdrawn his support. He is said to have sent half a million dollars to the bank. In addition. local men of wealth rushed in deposits of from $5,000 to $50,000 and at this excitement subsided. The bank is one of the wealthiest in the state.