Accommodated withdrawals, Public signal of financial health
Events (3)
1.July 28, 1863Chartered
Source
historical_nic
+42 years
2.June 20, 1905Run
Cause
Rumor Or Misinformation
Cause Details
A depositor saw a bank official's daughter withdraw funds, triggering a rumor that something was wrong; subsequent show of reserves reassured depositors.
Random Run
Yes
Random Run Snippet
Daughter withdrew deposits; rumor started, later shown unfounded
Measures
Bank paid withdrawals without hesitation and displayed its reserves/strength to reassure depositors.
Newspaper Excerpt
One of the depositors saw the daughter of an official of the bank withdraw her deposits, and from this the rumor started that something was wrong.
Source
newspapers
+5.7 years
3.March 18, 1911Voluntary Liquidation
Source
historical_nic
Newspaper Articles (11)
1.August 25, 1904The News-HeraldHillsboro, OH
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Article Text
To Buy the Assets
Akron, O., Aug. 20.-Geo D. Bates, cashier of the Second national bank, offered the receivers of the defunct institution $300,000 for the assets of the bank, including bills, notes and overdrafts. The proposition was filed.
2.June 20, 1905The Topeka State JournalTopeka, KS
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Article Text
Bank Run Comes to an End. Akron, O., June 20.-Practically no run on the Second National bank followed yesterday's scare. Only 75 persons called for their savings today, the large amount of money and the strength of the bank's resources as shown yesterday satisfying the majority of depositors.
AKRON, O., June 20.-There is considerable excitement here over the coninued run on the Second National bank. The run started Saturday. One of the depositors saw the daughter of in official of the bank withdraw her leposits, and from this the rumor started that something was wrong. A total of $500,000 has been withdrawn since Saturday.
4.June 20, 1905Evening StarWashington, DC
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Article Text
No Run on Akron Bank
AKRON, Ohio, June 20.-Practically no run on the Second National Bank followed yesterday's scare. Only about seventy-five persons called for their savings today, the large amount of money and the strength of the bank's resources, as shown yesterday, satisfying the large number of depositors.
AKRON, O., June 20.-There is considerable excitement here over the continued run on the Second National bank. The run started Saturday. One of the depositors saw the daughter of an official of the bank withdraw her deposits, and from this the rumor started that something was wrong. A total of $500,000 has been withdrawn since Saturday.
AKRON. O., June 20.-There is considerable excitement here over the continued run on the Second National bank. The run started Saturday. One of the depositors saw the daughter of in official of the bank withdraw her deposits, and from this the rumor start ed that something was wrong. A total of $500,000 has been withdrawn since Saturday.
7.June 21, 1905Los Angeles HeraldLos Angeles, CA
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Article Text
AKRON BANK DEPOSITORS SATISFIED WITH SHOWING By Associated Press. AKRON, Ohio, June 20.-Practically no run on the Second National bank followed yesterday's scare. Only seventy-five persons called for their savings today, the large amount of money and the strength of the bank's reserve as shown yesterday satisfying the majority of the depositors.
8.June 21, 1905The San Francisco CallSan Francisco, CA
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Article Text
AKRON, Ohio, June 20.-Practically no run on the Second National Bank followed yesterday's scare. Only seventy-five persons called for their savings to-day, the large amount of money and the strength of the bank's reserve, as shown yesterday, satisfying the majority of depositors.
9.June 23, 1905The Stark County DemocratCanton, OH
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Article Text
Bank Run Ends
The run on the Second National bank, of Akron, which caused so much excitement on Monday, is all over, and the bank has demonstrated that it is as sound as any financial institution can be.
10.August 2, 1905Watertown RepublicanWatertown, WI
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Article Text
Girl Causes Bank Run
One of the depositors of the Second National bank of Akron, O., saw a daughter of a bank official draw out her money, and a run was started that continued until the closing hour for the day came, in which time $500,000 had been withdrawn. The officials are paying without hesitation. The bank has a surplus of $40,000 and a capital of $350,000.
11.August 3, 1905The Manitowoc PilotManitowoc, WI
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Article Text
Girl Causes Bank Run
One of the depositors of the Second National bank of Akron, O., saw a daughter of a bank official draw out her money, and R run was started that continued until the closing hour for the day came. in which time $500,000 had been withdrawn. The officials are paying without hesitation. The bank has a surplus of $40,000 and a capital of $350,000.
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.