3029. State Central Savings Bank (Keokuk, IA)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
November 24, 1905
Location
Keokuk, Iowa (40.397, -91.385)

Metadata

Model
gpt-5-mini
Short Digest
cbb10c063f749d47

Response Measures

None

Description

Multiple contemporary reports (Nov 24โ€“25, 1905) describe a run on the savings department of the State Central Savings Bank in Keokuk that was quelled by bringing large quantities of silver dollars to the bank and displaying them. Reports attribute the panic to statements that the president's health was failing (rumor). No suspension, receivership, or permanent closure is mentioned.

Events (2)

1. November 24, 1905 Run
Cause
Rumor Or Misinformation
Cause Details
Reports say the run probably was caused by a statement that the president's health was failing, i.e., rumor about president's health.
Measures
Bank obtained/received four wagonloads (about $500,000) of silver dollars from Chicago and St. Louis and displayed them at the door to reassure depositors; paid callers as fast as possible.
Newspaper Excerpt
For no known reason a run started today on the savings department of the State Central Savings bank. The bank is paying all callers as fast as possible. The run is being made by women, and small depositors.
Source
newspapers
2. February 7, 1911 Other
Newspaper Excerpt
I recall an illustration ... It was the night of the day on which a run had been made on the State Central Savings Bank.
Source
newspapers

Newspaper Articles (10)

Article from Evening Times-Republican, November 24, 1905

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Article Text

RUN ON KEOKUK BANK. One is Being Made Today by Women and Small Depositors. Keokuk, Nov. 24.-For no known reason a run started today on the savings department of the State Central Savings Pank. The bank is paying all callers as fast as possible. The run is being made by women, and small depositors. The business men are not participating.


Article from Albuquerque Evening Citizen, November 25, 1905

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Article Text

RUN ON SAVINGS BANK STOPPED BY STRATEGY. Keokuk, Iowa, Nov. 25.-A run which began yesterday on the State Central Savings bank was stopped this morning almost entirely, after the arrival of four wagon loads of silver dollars from Chicago and St. Louis. The wagons backed up to the door of the bank an dhalf a million dollars were carried into the bank and piled up in sight of the people.


Article from Ottumwa Tri-Weekly Courier, November 25, 1905

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Article Text

RUN ON BANK SMALL DEPOSITORS WITHDRAW ACCOUNTS FROM KEOKUK INSTITUTION Keokuk, Nov. 24.--For no known reason a run started today on the savings department of the State Central Savings bank. The bank is paying all callers as fast as possible. The run is being made by women and small depositors: The business men are not participating.


Article from The Topeka State Journal, November 25, 1905

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Article Text

RUN WITHOUT REASON. Is Started on the Savings Department of a Keokuk Bank. Keokuk, Ia., Nov. 24.-For no known reason a run started today on the savings department of the State Central Savings bank, the oldest bank here. The bank is paying all callers as fast as they can be waited on,


Article from The Topeka State Journal, November 25, 1905

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Article Text

FOUR LOADS OF SILVER Backed Up to a Bank's Door Stopped a Run. Keokuk, Ia., Nov. 25.-The run which began yesterday on the State Central Savings bank stopped this morning almost entirely after the arrival of four wagon loads of silver dollars from Chicago and St. Louis. The wagons backed up to the door of the bank. A half million dollars was carried into the bank and piled up in sight of the people. The run probably was caused by a statement that the president's health was failing.,


Article from The Salt Lake Herald, November 26, 1905

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Article Text

FOUR CART LOADS OF SILVER DOLLARS Keokuk, Ia., Nov. 25.-The run which began yesterday on the State Central Savings bank stopped this morning almost entirely, after the arrival of four wagonloads of silver dollars from Chicago and St. Louis. The wagons backed up to the door of the bank. A halfmillion dollars was carried into the bank and piled up in sight of the people. The run probably was caused by a statement that the president's health was failing.


Article from Los Angeles Herald, November 26, 1905

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Article Text

RUN ON BANK STOPPED Sight of Four Wagonloads of Silver Restores Confidence of Depositors By Associated Press. KEOKUK, Iowa, Nov. 25.-The run which began yesterday on the State Central Savings bank stopped this morning almost entirely after the arrival of four wagonloads of silver dollars from Chicago and St. Louis. The wagons backed up to the door of the bank. A half-million dollars was carried into the bank and piled up in sight of the people. The run probably was caused by a statement that the president's health was failing. the


Article from Manchester Democrat, November 29, 1905

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Article Text

Silver Stops Run on Bank. Keokuk, Ia., Nov. 27.-The run which began on the State Central Savings bank stopped almost entirely, after the arrival of four wagon loads of silver dollars from Chicago and St. Louis. The wagons backed up to the door of the bank. A half million dollars was carried into the bank and was piled up in sight of the people. The run was probably caused by a statement that the president's health was failing, the word failing being repeated to depositors.


Article from The Idaho Republican, December 1, 1905

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Article Text

Sight of Silver Restored Confidence of Bank's Patrons. Keokuk, Ia.-The run which begar Friday on the State Central Savings bank stopped Saturday morning al most entirely, after the arrival of four wagonloads of silver dollars from Chicago and St. Louis. The wagons backed up to the door of the bank A half-million dollars was carried into the bank and piled up in sight of the people. The run probably was caused by a statement that the president's health was failing.


Article from The Daily Gate City, February 7, 1911

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Article Text

# OFFICERS WOULD # LOSE NERVE If Judge W. L. McNamara Had His Way Keokuk's Bluecoats Would Not Carry Any Weapons But Billies. # REVOLVER WOULD GO Judge of Superior Court Takes Extreme View of Matter of Carrying Concealed Weapons. Apropos to the latest crusade instituted by police that against the carrying of concealed weapons-W. L. McNamara, judge, clerk and bailiff of the superior court, comes out with a statement in which he indorses the drastic measure of placing the ban on policemen carrying guns or any other death-carrying weapons which the innocent public now do not see. He says that most of the "bad men" are harmless and that a well-balanced billy in the hands of an artist cop is as effectual as a 32-Colt and at the same time is very often a preventative of manslaughter. The judge is a versatile man and his opinions always count for something, but it is very seldom that he takes the extreme view as in the present case. "I think there are too many persons carrying concealed weapons in Keokuk," quoth the judge at an informal sitting in the superior court room yesterday afternoon while waiting for the police to effect the arrest of "Red" Jackson, who might have let daylight through one or more negroes and an officer in Walker's barber shop between Ninth and Tenth on Main, earlier in the day. "The police, I understand are to double their efforts in preventing the practice and I expect that many will be hailed into court to answer to this single charge. "I would favor enforcing an order in the police department prohibiting even officers from carrying guns. The order would be one that might get the "goat" of some of our bluecoats, but there is hardly a time that an officer is not able to meet the demands upon him without the aid of that dangerous weapon. Very often we see men injured or killed by officers who are too ready with their guns. "I recall an illustration of hasty action on the part of an officer which occurred several years ago. It was the night of the day on which a run had been made on the State Central Savings Bank. Officer George Hamilton, then night captain, arrested six negroes on Sixth street between Johnson and Main for disturbing the peace, and was taking them to the police station. Of the number five were "locals" and the sixth was a stranger. The stranger had on him a gun and knew he would suffer when searched at the station. This negro, awaiting a good opportunity, broke from the ranks after the group had crossed Main street. Running with his back to the officer a broad target was presented and Hamilton blazed away with his gun. The bullet pierced the fleeing man's back not an inch from the spinal column, but rather high up so that the wound was not a serious one and did not drop him. The negro escaped and afterwards learned that he was nursed for several days in "rag alley" and finally recovered and left the city without being arrested. "Numerous other instances have come to my attention in which the officer used undue haste in trying to bring down a man under arrest with a bullet. In many cases the officer could have been convicted of manslaughter."