23149. German Bank (Wheeling, WV)

Bank Information

Episode Type
Run Only
Bank Type
private
Start Date
October 20, 1872
Location
Wheeling, West Virginia (40.064, -80.721)

Metadata

Model
gpt-5-mini
Short Digest
a7edf718

Response Measures

Accommodated withdrawals, Books examined

Other: Directors published a card assuming personal liability and had warrants issued for alleged originators; criminal case later dismissed.

Description

A short-lived run occurred in mid-October 1872 triggered by a misunderstanding about the endorsement on a check. The bank met all demands promptly, published a directors' card pledging liability, and no suspension or closure followed. Arrests for conspiring to create the run were made but the defendants were later discharged.

Events (1)
1. October 20, 1872 Run
Cause
Rumor Or Misinformation
Cause Details
A misunderstanding about the endorsement of a check led to a circulating rumor that the bank had failed; the rumor proved false as the bank promptly paid demands.
Random Run
Yes
Random Run Snippet
Misunderstanding over check endorsement sparked false rumor; demands paid
Measures
Bank kept doors open Saturday evening, promptly paid checks and certificates, cashed withdrawals, and directors published a card taking responsibility; warrants issued against alleged originators of the rumor.
Newspaper Excerpt
Some misunderstanding occurring about the endorsement of a check was the cause. All demands were promptly met, and the directors today publish a card holding themselves individually and collectively responsible for all deposits in their bank.
Source
newspapers

Newspaper Articles (9)
1. October 21, 1872 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, October 21, 1872

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Article Text

The German Bank Excitement--All Demands Promptly Paid-Arrest the Supposed Originators of the "Run." Passing up Market street from the postoffice, Saturday evening, we noticed quite s large crowd in front of the German Bank, and on inquiring the cause, we that s "run" was were informed Pursuing being our made on that institution. inquiries farther, we learned that several days since a check had been presented at of the bank for payment by but without the the Mrs. counter Miller, endorsement whose of the person (her husband) in vor it was drawn At this Mrs. M. became indignant as subsequent developements indicate, and soon the report was in circulation that the bank was on the The check was subsequentproperly ly presented, of failure. indorsed, and The rumor excited alarm among ever, was paid. naturally, some recently how. of the depositors, coming so as after the it did Savings Institution disaster. Quite a number of the depositors presented their certificates during Saturday evening and promptly receivamounts due them. The doors Bank are kept open on ed of the the Saturday evenings until 8 e'clock to accommodate those who may wish to deposit their savings. This was the case on the of the "run" some were evening While from the vault withdrawing their funds others were of the institution, of depositing citizens their's, showing that all our lost confidence in as had Every not demand, before its stated, solvency. was met. The and its line promptly is unimpaired credit of of deposits, the bank will be increased rather than this test is diminished believed, by of its ability Directory to discharge its liabilities. The is made up of some of the substantial basiness men of the city-men noted for their prudence and good jadgment in financial affairs. The names appended to the following card represent fully a half million dollars sum largely in excess of any demand that could be made on the institution. The last statement of its coodition, made about the 1st inst., showed Its assets to be largely in excess of its habiliFrom its organization, several years it has been managed since, ties. remarkably with singular ability, and has been successful It is to be regretted that a mere mor should be allowed to impair the CODit has taken years to that the was fish. fidence Believing which "run" estab- the result of & conspiracy or something of that nature, we hear that the Directors had warrants issued yesterday morning, for the arrest of one or two of the prime movers, and propose to have the matter investigated thoroughly before the proper legal tribunal Notwithstanding the crowd in and large, and la. about the bank was quite boring under considerable excitement there were DO violent demonstrations. The police were sent for, but that done to keep the merely sidewalk their clear. Many who came to "remove dewhen they found without any posits," get them difficulty, that they returned could to homes with their certificates in their reasons their pocket-books. The their demand assignad by some for making were not only absurd but ridicalous. The promptness with which they were paid their money had the effect of restoring confidence in the minds of many who had become alarmed for the security of their funds, and it is believed that by this morning the excitement will have entirely subsided. We are assured that the bank is fully prepared to meet any exigency. The following is the card referred to above: CARD. unwarranted attack of some of the the to Depositors The against German Bank the undersigned Directors make the hold individually ay,prompts That they iollowing themselves declarations and in the German Bank of will posits collectively immediately responsible prosecute for Wheeling. the the defor circulated against parties, reports They responsible the the unfavorable Bank. AUGUETUS POLLACE, JOHN OESTERLING, CASPAR HEIL, PHILIP SCHUEHLE, AUGUST ROLF, A J. LONG, FREDERICK SCHENE, JOHN PFARE, ANTON REYMANN. Wheeling, October 19, 1872 FOUSD DEAD IX INTE Cooree

2. October 21, 1872 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, October 21, 1872

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M. GUTMAN & CO. THE LARGEST STOCK OF Men's and Boys' Overcoats AT M. GUTMAN a CO.'S. oct2 A PANIC.-Forawe past some very inconsiderate people have been trying to get up a run on the German Bank of this city, which on Saturday evening culminated in a considerable of a panic We first heard of the matter on Saturday, October 12, but feeling confident that the bank would promptly meet all demands against it, paid but little attention to it. It seems, though that those engaged in getting up the panic "meant] business," and on Saturday evening a large and excited throng gathered around the doors of the bank demanding their money and telling wild and im probable stories of its insolvency. At o'clock P. M., as usual on Satur day evening, the bank opened its doors, and the people rushed in. Check after check, certificate after certificate were cashed by Mr. Gemmer and Mr. Bayha, who, confident in the resources of their institution, knew that no such "run" as that they were enjoying could affect its solvency, until even those who bad been most bitter in their threats and most determined in demanding their money began to see that their panic was without cause and began to feel ashamed of the distrust they had shown, By eight o'clock, the hour on which the bank closes on Saturday night, the panic had subsided, and the excited crowd retired looking as foolish as the bull did that tried to butt the locomo= tive off the track. Better counsel will prevail o.day, and the return of funds to the care of the German Bank will be almost as rapid as their withdrawal. The Directors have authorized the publication of the following card: CARD. The unwarranted attack of some of the depositors against the German Bank, to-day, prompte the undersigned Directors to make the following declarations: That they hold themselves individually and collectively, responsible for the deposits in the German Bank of Wheeling. They will immediately prosecute the parties responsible for the unfavorable reports circulated against the Bank. AUGUSTUS POLLACK, JOHN OESTERLING, CASPER HEIL. PHILIP SCHUEHLE, AUGUST ROLF, A J. LONG, FRED SCHENCE, JOHN PFARE, J. REYMAN. WHEELING, October 17, 1871. We consider this attempt to destroy one of our strongest banking institutions one of the most needless and foolish ever concocted. The statement of the bank published a few weeks ago shows that it can pay its liabilities dollar for dollar. right along. Its stockholders and directors are among our "solid" men, and as they are individually and collectively liable for deposits, and as they enjoy the entire confidence of our business community. we can see nothing to justify the "run" or to impair its credit.

3. October 22, 1872 Nashville Union and American Nashville, TN
Article from Nashville Union and American, October 22, 1872

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Article Text

A Kun on a Bank. WHEELING, W. V., Oct. 21-Quite an excitement occurred in this (city Saturday evening, by a run madh on the German Bank, by the depositors. Some misunderstanding occurring about the endorsement of a check was the cause. All demands were promptly met, and the directors today publish a card holding rhemselves individually and collectively responsible for all deposits in their bank.

4. October 22, 1872 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, October 22, 1872

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"ALL QUIET ON THE RHINE."-As we anticipated would be the case, everything was quiet yesterday, at the German Bank, except the rush of depositors to pass their money in, and receive therefor, certificates. Occasionally, and only very occasionally, a certificate was presented for redemption. This was promptly done, and DO questions asked. More money was received, yesterday, than was withdrawn Saturday evening; in fact, nearly an equal amount to that taken out during the "run," was deposited while the "run" was in progress. Quite a number of those who, under the pressure of excitement, with. drew their funds on the evening named, came back early yesterday morning and gave assurances of restored confidence by depositing again. While the Directors no doubt were considerably annoyed by the totally unwarranted suspicion cast on the institution managed by them, they are fully compensated for the annoyance in the knowledge of the facts that the recent attempt to destroy the bank has resulted in a most miserable tailure on the part of those making it, and that it is stronger to-day in cash, credit, and confidence than at any former period in its history.

5. October 22, 1872 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, October 22, 1872

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Telegraphic Brevities. One thousand dollars have been sent from New York to the Baltimore clothing-cutters who refuse'to accede to the demands of their employers. More money is to be forwarded. -There are twenty-two men in the New York Toombs prison now under charge of murder. -The Cambria Iron Company's rolling-mills at Johnstown, Pa., resumed making rails yesterday morning-one week after their déstruction by fire. -A Gainesville, Fla., letter says that on the 18th inst. Stark Perry, son of -ex-Governor Perry, stabbed John O'Malley; a prominent citizen, from the injuries of which lie died. The stab-, bing grew out of a quarrel over a long-standing feud. -Abiathar Grant, the Mate of the schooner Charles Health, who fatally stabbed Frank Clifford in North street, Boston, on Saturday evening, has been fully committed to await the action of the Grand Jury. He stated to the officer who had him in charge that Clifford was the second man he had killed, and the third he had stabbed. -The Alpine House, at Gorham, N. H., was destroyed by fire yesterday, inflicting a loss of 850,000. A defective chimney was the canse. -At Angola, Ind., on Sunday night a man named O' Sullivan, hearing a noise- went to the front door and was shot through the heart, killing him instantly. The occurrence is shrouded in mystery. Two parties, named respectively John Boyke and Jas: Clingeratr, have been arrested on suspicion and are :now in jail awaiting the result of the inquest., -The best of old corn sold at LaSalle yesterday for 23 cents. -Angelo Marre, a noted thief, was sentenced to three years in the Tonnessee State Prison, yesterday, as keeper of a fence-house. Six other indictments are pending against him. -The Shelby County, Tenn., fair begenyesterday. The attendance was large. The exposition surpasses the most eanguine expectations of its projectors. The space is nearly all taken. -Quite an excitement occurred in Wheeling, W. Va., on Saturday evening, by a run, made on the German Bank by depositors. Some-misunderstanding occurred about the endorsement on a check was the cause. All demands were promptly met, and the Directors yesterday published a card holding themselves individually and collectively responsible for all deposits in their bank. -The tracklayers on the Vinton & Western Branch of the Burlington, Cedar Rapids & Minnesota Railroad, commenced putting down the iron yesterday morning. -Detective Howard of New York, was arrested yesterday on an an indictment for aiding Chief of Police McWilliams at Jersey City, who, it is alleged, was concerned in the First National Bank burglary, to escape from the Deputy Sheriff A few days since. The trial of Chief McWilliams and Detective Doyle commences on Thursday, at Jersey City.

6. October 24, 1872 The Kenosha Telegraph Kenosha, WI
Article from The Kenosha Telegraph, October 24, 1872

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TELEGRAPHIC NOTES. Geneva, Oct. .-Rev. Jean Henri Merle d'Aubigne, the celebrated historian of the Reformation, died suddenly to day in this city, 63 years of age. New York.-Wm Cullen Bryant will deliver the oration at the unveiling of the Walter Scott monument in Central"Park Saturday night. London. Oct. 19.-The London Board of Public Works voted almost unanimously in favor of removing tolls on Waterloo and other toll bridges across the Thames River. A conference with the Government for carying out this measure wil shortly be held. Wheeling, W. V., Oct. 21.-Quite an excitement occured in this City Saturday evening by a run made on the German Bank by depositors. Some misunderstanding about the endorsement of 2 check was the cause. All the demands promptly met, and the directors to-day publish a card holding themselves individually and collectively responsible for all deposits in their bank. Richmond, Va., Oct, 1.-The installation of Right Rev. Jos. Gibbons as Catholic Bishop of Richmond took place to-day with the most impressive ceremonies. Arch Bishop Bayley, of Baltimore, and Bishop Becker, of Wilmington, Deleware, were present, as were also all the clergymen of the diocese and a number of church dignitaries from other sections. Washington, October 13.-The President to-day appointed Ex Governor Lucius Fairchild Consul at Liverpool, Vice Thomas A. Dudley resigned Henry A. Struve, Washington Territory, Secreta. ry of that Teritory. William Pound, United States Attorney, Dacotah, Andrew S. Correnpost at Petersburg Illinois. Washington, D. C., Oct. 19.-Recent advices from Senator Sumner, now in France, indicate that he will not return home in time to be present at the assembling of Congress, unless his health improves very much between this and that time. Mr. Sumner was awaiting with much anxiety the news giving the result of the October election in Ohio, Indiana and Pennsylvania. New York, Oct. 19.-South American advices have no news of any importance. In a riot Sandiego, Chili, between the Metropolitan police, one : person was killed and many wounded. The ringleaders were arrested. 30 The attitude of Costa Rica towardsJNicaragua on the boundary question is not considered conciliatory. In Costa Rica a plct to overthrow the Guardias government during his absence was dis. covered and defeated by Perto, the acting president. The chief of the plot is said to be Walderar, ex-minister of Duenas, and a refugee from Salvador. He has been expelled frc m the country. Madison, Wis., Oct. 19.-Two mysterious cases have just transpired in this county. Miss Amelia Schetter, a very prepossessing girl of 18 years, while on a visit at her father's at McFarland, on Saturday last, mysteriously disappeared in the evening, and no clue can be ascertained as to her whereabouts. A married woman was abducted in the town of Windsor about 2 week ago, and wataken away forcibly by two men in a covered car riage, after drugging her husband. He seems to know nothing of the circumstances. Her dress was found on the road several miles from her res" idence, and brought to the Sheriff's office. Fears of foul play are entertained in both of these cases. New York, Oct. 21.-A Berlin dispatch says that among the blows at religious liberty by the Bi marckian Government, is an order forbidding processions in several towns of the Rhenish provinces, where since time immemorial they ranked foremost among the favorite customs of the peopie, and where their suppression is sure to excite great indignation. Such was the excitement caused in Prussia by the expulsion of the Jesuits, that the Catholic Arch-bishop of Cologne had instituted against him a hatrea-and-contempt suit by the Government, for daring to write a letter on the subject. In Holland some nobles had offered shelter to exiled German Jesuits, but the Hague Government prohibited them from doing so.

7. October 24, 1872 The Manitowoc Pilot Manitowoc, WI
Article from The Manitowoc Pilot, October 24, 1872

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Summary of News. The Alpine House, Gorham, N. II., was destreyed by fire Monday. It caught from a defect in the chimney. Value of property, about $60,000. Sunday night, a laborer employed on the Memphis railroad, was killed near Argenta, Ark., in a drunken sprea* Quite an excitement occurred in Wheeling. W. Va., by a run on the German bank by its depositors, Some misunderstanding about a check was the cause. All demands were promptly met Rev. Wm. Greir, a prominent clergyman of the Protestant Episcopal Church of the diocese of central Pennsylvania, and Secretary of the Board of Missions, died in Allentown, Pa., on Monday. In the race on Monday at Baltimore, between the New York Rowing Club and the Ariel Club of Baltimore, distance three miles, the New York Club won. Time, 17 minutes, 14 seconds. Sandford's ink factory, in Chicago, was barned Monday morning. Loss, $5,000. In the evening the barn of the West Side Omribus Company, on West Madison street, took fire and was completely destroyed, together with an adjoining house and eight OF ten small baras in the rear. Fifty horses were burned to death. Total loss $50,000. The latest advices from Idaho represent a general outbreak of Indians imminent.

8. October 24, 1872 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, October 24, 1872

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EXAMINATION POSTPONED. -In Monday morning's INTELLIGENCER we stated that warrants had been issued for the arrest of two persons supposed to have been the prime movers in getting up the "run" on the German Bank. The names of the parties are John Willke and Mrs. Henry Miller. Yesterday they were brought before Judge Johnston to answer the charge of forming a conspiracy to injure the credit of the institution aforesaid. In consequence of the absence of some of the witnesses the examination was postponed until next Tuesday-the accused giving bail in the sum of one thousand dollars each for their appearance at the time stated.

9. November 11, 1872 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, November 11, 1872

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# THE END OF THE CONSPIRACY CASE.- As our readers will remember, Mrs. Henry Miller and John Wiike were arrested some two or three weeks since on a charge of unlawfully conspiring to injure the credit of the German Bank, it being because of their talk and misrepresentations, it was alleged, that the "run" on the bank was made. The hearing of the case was postponed until last Saturday, when it came on for a hearing before Justice Johnston. The prosecution did not prove the unlawful conspiracy, and, of course, the accused were discharged.