Merchants National Bank (Plattsburg, NY)

Episode Information

Episode Type
Run Only
Start Date
May 13, 1931
Location
Plattsburg, New York (44.699, -73.453)
Registered Place
Plattsburgh
Bank Type
national
Charter Number
3174

Metadata

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health

Events (3)

1. May 5, 1884 Chartered
Source
historical_nic
2. May 13, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Depositors alarmed by reports (unspecified) led to heavy withdrawals; arrival of cash and securities from Albany halted the run.
Measures
Arrival of $1,000,000 in cash and securities flown from Albany to the bank to meet withdrawals
Newspaper Excerpt
PLATTSBURG. N. May airplane $1,000,000 in cash and securities ... halted a run on the Merchants National Bank
Source
newspapers
3. June 24, 1931 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)

Article Text

BANK SAVED BY PLANE. Million Dollars by Air Halts Run

On Institution. der indictments ranging from kidnaping to carrying concealed lying woundin an Albany again today with four gang. for violate the liquor laws and operating unlicensed still Greene

PLATTSBURG. N. May airplane $1,000,000 in cash and securities Named with Diamond were Paul here from Albany and Quattrocci, Diamond's henchheavy from man: John Merchants National Bank Tony and Louis Doe. began last Saturday The gives that Officials the bank will tonight that the arrival of support charges money resulted most of forth long withdrawn being rede. the conspiracy posited. the sum had been withdrawn for and and transporting depositors who alarmed ing reports the bank. Unable to meet the their cash Federal bank officials appealed the Reserve, which ranged the


Article Text

CHICAGO TRIBUNE'S R. C.A NEWS SERVICE

By cour tesy of the Chicago Tribune Received at the Naval Radio Station May 14, 1931.

Southport, Eng:-Four Americans finished among'the leaders in the first round of professional golf tournament. Horton Smith with 72 was in second place. Other U. S. golfers were Joe Kirkwood 72, Tony Manero and Joe Turnesa, 75 each. Henry Cotton's 70 won first place. Smith's score made in a rainstorm. The first round ends Thursday. Finals on Friday. Mexico 'City:-Two retired generals and several other former army officers were arrested and charged with a plot to assassinate President Rubio and over throw the Government. New York: On Friday King Krajahipok of Siam will tune in on the radio program his own country which will be imported by the National Broadeisting Company His Majesty is recuperating rapidly from a cataract operation. Boston: Custom Guards seized a run runner and a crew of twenty two as they were unloading a thousand cases of 11quors at the munieipaldock. Syracuse. -Arriving here to visit her daughter, Mrs Gladys Bryan, whom she had not seen for ten years, Mrs Adฤฑ Mann of Torquay and Monte Carto could only see her grave Mrs. Bryan had died while her mother was on the ocean. Plattsburg, N. Y:-A million dollars brought from Albany by airplane halted a run on the Merch nts National Bank New York: Broadway was surprised by the news that Joe Cook, star of "Fine and Dandy" had divorced his wife secretly in Newark nearly a month ago, The couple had been generally re garded happy and devoted. New York: Gene Sarazen, favored aspirant to the throne of golfdom is resolved to use the new, larger and lighter ball in the British open tourney. He


Article from Seward Daily Gateway, May 18, 1931

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Article Text

BANK RUN HALTED PLATTSBURG, N. Y., May 18. (AP)-A $1,000,000 brought from Albany by airplane halted a run on the Merchants National Bank.