Bay Ridge Savings Bank (Bay Ridge, NY)

Episode Information

Episode UID
2782343791556
Episode Type
Run Only
Bank Type
savings
Bank ID
278234379 hash
Start Date
August 16, 1929
Location
Bay Ridge, New York (40.634, -74.015)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
245132c4c72906bb

Response Measures

None

Events (1)

1. August 16, 1929 Run
Cause
Local Banks
Cause Details
Panic spilled over from failures of other banks and general loss of confidence, prompting withdrawals.
Measures
Bank brought truckloads of gold/reserves and public statements (editorial distribution) to reassure depositors.
Newspaper Excerpt
After they had witnessed several truck loads of gold arrive at the bank, scores of depositors who had withdrawn their money from the Bay Ridge Savings Bank turned around and redeposited withdrawals.
Source
newspapers

Newspaper Articles (2)

Article from Times Union, August 16, 1929

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Article Text

DETECTIVES PUSH INQUIRY INTO CAUSE OF RUN ON BANK Banker Lauds Editorial In The Standard Union Depositors Calmed by Statement of Paul Block Officers of the Bay Ridge SavIngs Bank men of Bay Ridge to-day joined in expressing their appreciation of the editorial. signed by Paul Block, publisher of The Standard Union, that appeared in yesterday' issue of this paper. They were unanimous in the opinion that this torial very effective in quiet ing the steming the rush to withdraw funds Indebted to Mr Block for the editorial and have few copies The ordered Standard Union for distribution to day as think will effective,' Dr. Maurice Lewis, president of the said He added that as eral The Stand ard Union had been given to the depositors for money the effect of the editorial parent He and other officers the bank that number of persons had waiting line their left soon as they had the editorial The Rev. super intendent the Hos pital who had sought to reassure the depositors by speaking their tongues was equally certain that the number that their money attitude of Mr Block's edi had the atten and there is no doubt in my but that had great effect the people the stability of the bank. Dr. Pedersen editorial read as follows DEPOSITORS IN THE BA NEED NOT WORRY Bank depositors should not of all banks just because two or three failed Over ninety nine per cent. of all banks sound and we have the word of State ent Joseph A Broderick that the Bay Ridge Savings Bank is perfect create in tion That danger which any banks Savings Bank has appears to be that faith has arisen and is Publisher copies of The Stand editorial the the 300 the outsid the bank hundred long lines the waiting chance withdraw the money they had deposited After reading editorial fice number gave the and the stability The (Continued on Last Page)


Article from The Brooklyn Daily Times, August 16, 1929

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Article Text

CHANGE MINDS AFTER RUN ON BANK After they h d witnessed several truck loads of gold arrive at the bank, scores of depositors who had withdrawn their m from the Bay Ridge Savings Bank turned around and redeposited withdrawals.