Detroit National Bank (Detroit, MI)

Episode Information

Episode UID
287001122
Episode Type
Run Only
Bank Type
national
Bank ID
28700 national
Charter Number
2870
Start Date
June 14, 1893
Location
Detroit, Michigan (42.331, -83.046)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6089192edb09e1f1

Response Measures

Capital injected, Partial suspension

Description

One article describes a threatened run in Detroit in 1893; the 1933 clipping is fragmentary and inconclusive about events.

Events (3)

1. February 1, 1883 Chartered
Source
historical_nic
2. June 14, 1893 Run
Cause
Macro News
Cause Details
Part of an epidemic of savings bank runs affecting multiple cities; general panic/nervousness rather than a single bank failure.
Measures
Officers agreed to require the legal time limit/notice from depositors (hold withdrawals)
Newspaper Excerpt
At Detroit a run was threatened and the officers of all the banks met and agreed to require the time limit of all depositors. The run was started, but every depositor was required to give the legal notice, and confidence was partly restored.
Source
newspapers
3. November 17, 1902 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from Rock Island Daily Argus, June 14, 1893

Click image to open full size in new tab

Article Text

MORE SAVINGS BANKS RUNS. Detroit Officials Put on the BrakesTrouble at Omaha. CHICAGO, June 14.- The savings bank run seems epidemic. At Detroit a run was threatened and the officers of all the banks met and agreed to require the time limit of all depositors. The run was started, but every depositor was required to give the legal notice, and confidence was partly restored. At Omaha there was a run on every savings bank in the city caused by the failure of the McCague bank and American National. McCague says he will pay every depositor. All the banks met the run with cash, and the run was greatly abated by night. The Nashville Savings company has made an assignment with liabilities of $282,000 and assets of $125,000. The Irving Savings institution at New York is short $70,000, due to the rascality of its president, secretary, and paying teller.


Article from The Daily Chronicle, April 14, 1933

Click image to open full size in new tab

Article Text

Heads Detroit's National Bank Walter McLucas, above. is the president of Detroit's Rooseplan' bank that sound assets two closed banks. The new institution, financed by General Motors and the R. release an additional per deposits the old banks. Mr. McLucas chairman of Kansas City, Mo., bank to head the Detroit National