City Savings Bank (Omaha, NE)

Episode Information

Episode UID
3185931491224
Episode Type
Run Only
Bank Type
savings
Bank ID
318593149 hash
Start Date
December 9, 1901
Location
Omaha, Nebraska (41.259, -95.938)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7541327335952f88

Response Measures

None

Events (1)
1. December 9, 1901 Run
Cause
Rumor Or Misinformation
Cause Details
Mistaken impression that City Savings Bank was connected with the troubled Omaha Loan & Trust Company.
Measures
Four tellers paid depositors promptly; officials displayed large piles of gold; most money redeposited by noon.
Newspaper Excerpt
The run is due solely to the wrong impression that the savings bank is connected with the Omaha Loan and Trust Company, said Vice President Flack.
Source
newspapers

Newspaper Articles (10)
1. December 9, 1901 Evening Star Washington, DC
Article from Evening Star, December 9, 1901

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Article Text

Misunderstanding Regarding Its Connection With Loan Company. LATTER REPORTED TO BE IN TROUBLE City Savings Bank Was Able to Weather the Storm. MONEY REDEPOSITED OMAHA, Neb., December 9.-There was a considerable number of depositors of City Savings Bank present to withdraw their money when the doors of that institution opened today, owing to a misunderstanding that the savings bank was connected with the Omaha Loan and Trust Company, which was reported Saturday to be in financial difficulties. Four tellers paid the depositors as fast as they presented their books, but many of them on learning that the bank had become segregated from the trust company, returned and again deposited their money. The bank officials were prepared for the run and had great piles of gold on the counters with which to pay the uneasy depositors. "The run is due solely to the wrong impression that the savings bank is connected with the Omaha Loan and Trust Company," said Vice President Flack. "There is no connection whatever between the two companies, but as the owners and officers of the City Savings Bank a short time ago bought the savings bank department of the Omaha Loan and Trust Company. and is occupying the offices formerly occupied by it, a number of persons do not yet realize that the two institutions are entirely separate and distinct." "While there is absolutely no occasion for the run," continued Mr. Flack, "the City Savings Bank is prepared to meet any demands that may be made and will pay promptly every depositor that presents his book."

2. December 9, 1901 Daily Camera Boulder, CO
Article from Daily Camera, December 9, 1901

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Article Text

BANK PAID UP. Omaha, Dec. 9-A run was started on the City Savings bank this morning un. der the mistaken impression that it was connected with the Omaha Building & Loan association, an institution said to be in bad shape. Four tellers paid depositors as fast as they presented their books, and by noon the run bad closed and the money was being returned. Vice President Flack declares that the back is ready to meet all demands without notice.

3. December 9, 1901 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, December 9, 1901

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Article Text

DEPOSITORS DRAW THEIR MONEY FROM OMAHA BANK Omaha, Dec. 9.-There was a considerable number of depositers of the City Savings bank present to withdraw their money when the doors opened this morning, owing to a misunderstanding. It was said Vice President Flack, of the savings bank was connected with the Omaha Loan and Trust company, which was reported Saturday to be in financial difficulty. Many depositors on learning the bank was separated from the trust company. redeposited their money. The officials were prepared for a run, and had great piles of gold on the counters with which to pay uneasy depositors.

4. December 10, 1901 The St. Louis Republic Saint Louis, MO
Article from The St. Louis Republic, December 10, 1901

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Article Text

BIG RUN ON AN OMAHA BANK. Mistaken Impression Causes Depositors to Withdraw Money. REPUBLIC SPECIAL. Omaha, Neb., Dec. 9.-A mistaken impression that the City Savings Bank of this city was affected by the difficulties of the Omaha Loan and Trust Company led to a heavy run on the former institution to-day, but stacks of gold piled high around the paying teller, and a quick response to every positor's demand to be paid soon restored confidence. Officers of the savings bank declare that they are in no wise affected by the dimculties of the trust company. and that they have the cash on hand to pay 97 per cent of their deposits, and that in ten minutes they could get as much more gold as they needed. Before the day had ended many of the depositors were returning their money to the bank. A statement of the affairs of the Omaha a Loan and Trust Company is promised in short while.

5. December 10, 1901 Ottumwa Semi-Weekly Courier Ottumwa, IA
Article from Ottumwa Semi-Weekly Courier, December 10, 1901

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Article Text

GOLD CHECKS A RUN UNEASY DEPOSITORS WITHDRAW FUNDS. Officials Pile the Yellow Metal on Coun. ters in Sight of Patrons-Omaha Bank in Danger of Run Start ed by Rumor. Omaha, Dec. 9.-There was a considerable number of depositors of the City Savings bank present to withdraw their money when the doors opened this morning, owing to a misunderstanding, said Vice President Flack, that the Savings bank is connected with the Omaha Loan & Trust company which was reported Saturday to be in financial difficulty. Many depositors on learning that the bank had become seggregated from the Trust company re-deposited their money. The officials are prepared for a run and have great piles of gold on the counters with which to pay uneasy depositors.

6. December 10, 1901 Bismarck Daily Tribune Bismarck, ND
Article from Bismarck Daily Tribune, December 10, 1901

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Article Text

RUN ON AN OMAHA BANK. Four Tellers Busy Paying Cash to Depositors. Omaha, Dec. 10.-There was a considerable number of depositors of City Savings bank present to withdraw their money when the doors of that institution opened Monday morning, owing to a misunderstanding, said Vice President Flack, that the savings bank was connected with the Omaha Loan and Trust company, which was reported Saturday to be in financial difficulty. Four tellers paid the depositors as fast as they presented their books, but many of them, on learning that the bank had become distinct from the trust company, returned and again deposited their money. The bank officials were prepared for the run and had great piles of gold on the counters with which to pay the uneasy depositors. "The run is due solely to the wrong impression that the savings bank is connected with the Omaha Loan and Trust company," said Vice President Flack. "There is no connection whatever between the two companies, but as the owners of the City Savings bank bought the Savings bank department of the Omaha Loan and Trust company and is occupying the offices formerly occupied by it, a number of persons do not yet realize that the two institutions are entirely separate and distinct."

7. December 10, 1901 The Washington Times Washington, DC
Article from The Washington Times, December 10, 1901

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Article Text

HAS PLENTY OF REAL ESTATE. Omaha Loan and Trust Company De. clared to Be Solvent. OMAHA, Dec. 9.-A. U. Wyman, President of the Omaha Loan and Trust Company, for which it was reported Eastern creditors would ask for a receiver, this evening said: "The directors have not discussed the question of a receiver for the affairs of the company. If we can dispose of our real estate at the cost price, the loan and trust company will be entirely solvent." This property, however, was purchased years ago, in boom times, and there is no possibility of its disposal at cost price. It is alleged that almost ten millions' worth of mortgages, the principal and interest of which have been guaranteed by this company, has been sold in the New England States within the last fifteen years. The savings bank adjunct of the Omaha Loan and Trust Company was last week sold to the City Savings Bank, a new institution formed for the purpose of purchasing this department. This morning a run was started on the new ban kby depositors who feared the trouble would extend to that institution. All demands were met with cash and the run soon died out. A feature of the run was an immense pile of gold and silver coin within sight of the depositors who were withdrawing their money. The cashier stated that 75 per cent of its deposits were within reach of the paying teller's hands.

8. December 10, 1901 The Denison Review Denison, Dow City, IA
Article from The Denison Review, December 10, 1901

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Article Text

Run on Bank Soon Over. Omaha, De. 10.-Report of the entangled condtion of the affairs of the Omaha Loanand Trust company precipitated an ncipient run on the City Savings bank yesterday. For a few moments afer the opening hour there were a number of accounts withdrawn. Te bank met all demands promptly and the greater part of the money wa returned after noon.

9. December 19, 1901 The Hocking Sentinel Logan, OH
Article from The Hocking Sentinel, December 19, 1901

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Article Text

aux am SI OHM 1010 of fence around the fair grounds. H. A. W. Tabor of Denver. of the former Senator, has been 1 from the most distressing poverty sale of her last mining possession, erty apparently SO worthless that editors made her a present of the of unknown origin destroyed the uilding of the University of Woosio. The loss is estimated at $250,nd the insurance is about $70,000. upposed that an explosion of chemn one of the laboratories was the er, the new gas field in Licking r, Ohio, reports that a well has Irilled on the Fulton farm which , daily output of 3,500,000 cubie This is the biggest well in the Gas was struck at a depth of les W. Bell, of Toledo, Ohio, sufa stroke of paralysis at the conof a football game at Armory Owing to darkness the incident t noticed and he lay where he fell ht exposed to a cold rain. His "y is doubtful. ty Sheriff Patterson, who went in of three robbers who broke into di Wood's store at Galena, S. D., cured $40, met them at Strawberry and after a fusillade of shots one was killed, one was made prisoner e third escaped. Larry Ross staggered into the potion at Sandusky, Ohio, more dead live. She had walked all the way Buffalo. A fire in Buffalo, she lestroyed all her belongings, and rted to walk to the home of her in Bucyrus, Ohio. jury in the case of Miss Agnes Root D T pens oq.n "I nder of the Woodmen of the and others for the publication in iings of an alleged libel, returned et in favor of the plaintiff, allow$14,000 damages in Omaha. y J. Fleishman, for years the cashier of the Farmers and MerBank of Los Angeles, Cal., and the best known of local financiers, opped from sight, and with him e $100,000 of the bank's currency, ng to the officers of that institu-10 the uo una R SUM a City Savings Bank in Omaha. lished reports of the Omaha Loan ust Company's financial distress caused a general panic among the depositors. Four tellers were emand all demands were paid withstion. other evening as the Cincinnati, nd and Muncie construction train ming into Peru, Ind., from work car ahead of the engine left the nd rolled down a steep embankThere were about forty persons car, who were all more or less ijured. mb was thrown by an unknown into the hallway of the public building at Corder, Mo., while the vere practicing for the Christmas s in the second story. An exthat shook the building and tore rtion of the lower floor followed. was injured. bark Pinmore of Greenock, Scotund from Santa Rosalia, Mexico, land, Ore., ran into the surf at ath of Raft river near Gray's : Wash., and went down. The took to the boats. One boat conseven men was stove in and all of 1 were drowned. en Jewett of the Kansas State tiary and the wardens of the Minand South Dakota prisons are exack soon from Yucatan and Mexere they went with $550,000 to the

10. February 11, 1902 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, February 11, 1902

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Article Text

s e DA3 weC Other Banks Not Affected. There was nothing like a panic at any of the other banks in the city and comparatively few deposits were withdrawn as a result of the excitement. At the Gratlot Avenue branch of the City Savings bank, which drew its deposits (Continued on Fourth Paga.)