Article Text
Bank Run Subsides. Dunkirk, N. Y., June 27.-The run started yesterday on the Lake Shore National bank of Dunkirk has subsided. Less than a dozen persons were in line at the paying teller's window when the bank opened todav.
Lake Shore National Bank (Dunkirk, NY)
Episode Information
- Episode UID
291601266- Episode Type
- Run Only
- Bank Type
- national
- Bank ID
-
29160national - Charter Number
- 2916
- Start Date
- June 27, 1905
- Location
- Dunkirk, New York (42.480, -79.334)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
db169ec9aad97236
Response Measures
Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, Capital injected
Events (2)
1.
April 6, 1883
Chartered
- Source
- historical_nic
2.
June 27, 1905
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Run occurred 'without apparent cause' or as a 'slight flurry'; no bank-specific insolvency reported.
- Measures
- Kept open after hours paying all claims in full; received additional currency from Buffalo; offers of assistance and large deposits received.
- Newspaper Excerpt
- The run started yesterday on the Lake Shore National bank of Dunkirk has subsided.
- Source
- newspapers
Newspaper Articles (11)
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Article Text
Run on Dunkirk Banks. DUNKIRK, N. Y., June 27.-Without apparent cause both the Lake Shore National bank and the Merchants' National bank of this city were subjected to a run, or a "slight flurry," as the bank officers termed it. Both banks kept open after hours payIng all claims in full.
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Run on Dunkirk Banks. DUNKIRK, N. Y., June 27.-Without apparent cause both the Lake Shore National bank and the Merchants' National bank of this city were subjected to a run. or a "slight flurry," as the bank officers termed it. Both banks kept open after hours payfng all claims in full.
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Run on Dunkirk Banks. DUNKIRK, N. Y., June 27.-Without apparent cause both the Lake Shore National bank and the Merchants' National bank of this city were subjected to a run, or a "slight flurry," as the bank officers termed it. Both banks kept open after hours payIng all claims in full.
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Run on Dunkirk Banks. Dunkirk, June .-Without apparent cause both the Lake Shore National bank and the Merchants' National bank of this city were subjected to a run yesterday afternoon, or a "slight flurry" as the bank officers termed it. Both banks kept open until 6 o'clock, paying all claims in full. The rush at the Merchants' bank lasted less than half an hour, while the cashier at the Lake Shore bank was kept busy until 6 o'clock serving the last person in line. Both banks received additional currency from Buffalo before 6 o'clock and it is announced they are prepared to cash every claim presented. It is thought the run is over.
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BANK GIVES FORGED NOTES AS SECURITY Missouri Failure Uncovers Peculiar Financial Methods. CLINTON, Mo., June 27.-It is reported to-day, but not confirmed, that alleged forgeries of notes used by the closed bank of Salmon & Salmon as securities amounted to nearly $100,000. State Bank Examiner Cook declined today to indicate the amount of the forged notes. 'I cannot give the amount," said Cook. "The Kansas City State Bank, which lent $150,000 to the Salmon & Saimon Bank, holds $307,000 worth of securities of the Salmon Bank-more than sufficient to cover the loans, even after the straw notes have been deducted from that amount." TERRE HAUTE, Ind., June 27.When the doors of the Vigo County Bank opened this morning a number of depositors were in line to withdraw their money. The withdrawals continued steady, though in an orderly manner. DUNKIRK, N. Y., June 27.-The run started yesterday on the Lake Shore National Bank of Dunkirk has subsided. Less than a dozen persons were in line at the paying teller's window when the bank opened to-day.
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RUN HAS SUBSIDED. Dunkirk, N. Y., June 27.-The run started yesterday on the Lake Shore National bank of Dunkirk has subsided. Less than a dozen persons were in line at the paying teller's window when the bank opened today.
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Run on Dunkirk Bank Checked. DUNKIRK, N. Y., June 27.-The run on the Lake Shore National Bank that started yesterday afternoon was not resumed today. Some returned money drawn out vesterday. Offers of assistance from many New York banks have been received. Dunkirk business men are making large deposits. M. L. Hinman of Dunkirk deposited $90,000 this morning.
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NEWS TERSELY TOLD. Forest fires have been burning fiercely on government lands in the mountains southwest of Denver since Sunday morning. The loss thus far is $50,000. The bureau of insular affairs has received a cablegram from Governor Magoon at Panama announcing the death from yellow fever of S. J. Hirsch. The National Woman's Suffrage association will meet in annual convention in Portland, Ore., on Thursday, and will continue its session until July 5, inclusive. The run started yesterday afternoon on the Lake Shore National bank of Dunkirk, N. Y., has subsided. Less than a dozen persons were in line at the paying teller's window when the bank opened for business today.
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RUN ON BANK ENDS. DUNKIRK, N. Y., June 27.-The run started yesterday on the Lake Shore National Bank of Dunkirk has subsided. Less than a dozen persons were in line at the paying teller's window when the bank opened for business today.
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FINANCIAL BILL HOTLY DENOUNCED Senator Clarke of Arkansas Hits Several Fierce Blows ALDRICH ATTEMPTS REPLY Investigation of Causes of the Panic Is Demanded by Senator Clarke, Who Also Denounces New York Stock Exchange. Washington, March 11.-Senator Clarke of Arkansas denounced the pending currency bill in a speech in the Senate today, declaring that no currency legislation should be enacted until an investigation is held as to the causes of the panic. "No such legislation is necessary now, said Mr. Clarke. "It is not only not necesI sary, but it may become dangerous. am not disposed to tolerate the idea of giving any support to the committee bill, nor the substitute proposed by the minority members of the Senate." If emergency currency is to be provided, Mr. Clarke said, the benefits should be extended all persons whose legitimate business demands cause them to need it. Mr. Clarke denounced the operations of stock exchanges and said the American people would not be satisfied with the proposed currency legislation without a complete knowledge of causes of the panic. "The time has arrived," he said, "when the affairs of the New .York stock exchange and other stock exchanges must be looked into." Mr. Clarke's reference to the stoppage of the payments by the New York banks called Mr. Aldrich to his feet with the remark that he did not believe the people would permit that course again to be pursued. "I trust the senator from Rhode Island as a historian," retorted Mr. Clarke, "but I do not trust him as a prophet." Mr. Clarke expressed the opinion that the majority would not pass the bill allowing the emergency circulation to be retired without limitation. Mr. Clarke said he would not only require a restriction of reserves, but he would deny to a national bank the right to pay interest on checking accounts. Senator Nelson suggested that the national banks should pay interest on the $250,000,000 of government deposits. Mr. Aldrich said that five years ago he had introduced a bill providing for the payment of interest on such deposits at the rate of 1 1/2 per cent, but, he added, senators had opposed that bill on the ground that it changed the nature of the loan. Former Senator Spooner and the late Senator Morgan, he said, opposed the bill. If that objection could be overcome he declared his willingness to again bring in such a measure. He did not know any reason unless it should be a legal one, of the kind suggested, why interest should not be charged on these deposits. Mr. Culberson, he said, had introduced a bill to require payment of interest on government deposits and it was now before the committee on finance. Mr. Bailey spoke at some length suggesting that the main purpose of his substitute was to favor the principle of government money instead of bank money He explained that he had provided for a distribution of the emergency currency in accordance with population, although he realized that business necessity was a greater measure of the amount they should have. But it was not possible to make sure of the business needs of the several sections and it was a simple matter to ascertain the population. An extended argument was made by Mr. Newlands of Nevada in favor of his view that the sending of a check from one state to another makes the business of banking interstate commerce.