gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d5068720961f98c1
Response Measures
None
Description
The article uses the term 'assigned' which in this context refers to a general assignment for the benefit of creditors, indicating suspension and closure.
Events (1)
1.February 20, 1896Suspension
Cause Details
The bank official made an assignment for the benefit of creditors.
Newspaper Excerpt
W. C. Brown of the City bank, Philadelphia, has assigned.
Source
newspapers
Newspaper Articles (1)
1.February 20, 1896Mineral Point TribuneMineral Point, WI
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Article Text
W. C. Brown of the City bank, Philadelphia, has assigned.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.