Citizens Bank - Atlanta, GA

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: April 17, 1878
Location: Atlanta, Georgia (33.749, -84.388)

Metadata

Model: gpt-5-mini
Short Digest: b2ee813a

Response Measures

Accommodated withdrawals

Description

Article (dateline April 17, 1878) describes a short-lived, temporary run for gold that quickly ceased after the bank paid out coin; no suspension or closure is mentioned. Cause classified as macro_news because the run was driven by currency preference (gold vs. greenbacks) rather than rumors or bank-specific insolvency. Bank name as printed ('Citizens' Bank').

Events (1)

1. April 17, 1878 Run

Cause: Macro News
Cause Details: Increased demand for gold coins following the bank's announcement it would pay out gold at par (public preference for coin over greenbacks); a short-lived withdrawal for specie.
Measures: The bank paid out gold on checks and drafts at par; paid out coin satisfied demand and much was redeposited.
Newspaper Excerpt: A temporary run was made for gold, but it soon ceased, and on Monday much of the gold paid out was returned as ordinary deposits.
Source: newspapers

Newspaper Articles (1)

1. April 18, 1878 The New York Herald New York, NY

Article from The New York Herald, April 18, 1878

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Article Text

PLENTY OF GOLD IN GEORGIA, BUT NO ONE WANTS IT-GREENBACKS AND GOLD AT PAR. [BY TELEGRAPH 20 THE HERALD. 1 ATLANTA, April 17, 1878. The Citizens' Bank, one of the strongest in the South, last Saturday announced through the papers its readiness to pay out gold on checks or draits at par. A temporary run was made for gold, but it soon ceased, and on Monday much of the gold paid out was returned as ordinary deposits. Since then only occasional calls have been made for gold. President Brown says the great majority of his customers will not take the gold, but prefer greenbacks. On Saturday a gentleman deposited $2,000 in gold at par, and that deposit nearly satisfied the demand for gold A large amount of coin heretofore hoarded has been deposited in the banks hero with greenbacks. Any of the banks will pay gold to any one asking it.