4656. Schiff & Co. (Chicago, IL)

Bank Information

Episode Type
Run Only
Bank Type
private
Start Date
September 22, 1905
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
4cbd0869

Response Measures

Accommodated withdrawals

Description

Multiple contemporaneous newspaper dispatches (Sept 22–30, 1905) report a mob/run on Schiff & Co. in Chicago started by a rumor that Schiff was bankrupt and had fled. Reports describe heavy withdrawals and proprietor paying out funds; no mention of suspension, receivership, or permanent closure in the articles provided.

Events (1)
1. September 22, 1905 Run
Cause
Rumor Or Misinformation
Cause Details
A rumor circulated that Schiff was bankrupt and had fled, triggering mass withdrawals
Measures
Proprietor paid out more than $30,000 between 7 and 10 p.m. to satisfy withdrawals
Newspaper Excerpt
The Ghetto flamed in financial panic last night, when a howling mob of depositors swept down on the banking house of Schiff & Co., 503 Jefferson street, to withdraw their savings. Ten thousand people...the proprietor paid out more than $30,000
Source
newspapers

Newspaper Articles (6)
1. September 22, 1905 The Minneapolis Journal Minneapolis, MN
Article from The Minneapolis Journal, September 22, 1905

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Article Text

MONEY PANIC IN CHICAGO GHETTO A Howling Mob of Depositors Swoops on Bank by Thousands for Deposits. New York Sun Special Service. Chicago, Sept. 22. - The Ghetto flamed in financial panic last night, when a howling mob of depositors swept down on the banking house of Schiff & Co., 503 Jefferson street, to withdraw their savings. Ten thousand people gave the police of the Maxwell street station all they could handle in the run on the Jewish bank. Between 7 and 10 o'clock the proprietor paid out more than $30,000 in amounts ranging from $10 to $600. It

2. September 28, 1905 River Falls Journal River Falls, WI
Article from River Falls Journal, September 28, 1905

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packers and that the accused Will Le permitted to escape jail by pleading guilty. It is said that the fining of packers by Chicago courts in the rebate cases will be used by the railways as an argument against rate legislation, it being argued that the success of the government shows that it has enough power. Rufus Binyon (colored), who murdered his stepdaughter at Ran, in 1900, was executed at Ardmore, I. T. This was the first legal execution ever held in that district. The number of direct memorials to the Emperor of Japan from different associations and individuals condemning the peace treaty and asking that it be not ratified exceeds 40. A Kentuckian upon his arirval home after an absence of several days grasped his six-year-old daughter by the chin to kiss her, lifting her head back. The little one sank to the ground dead. A physician found that her neck had been broken by her father. Audubon Boy equaled the world's record for pacing, held by Star Pointer, at the Readville (Miss.) trotting park, traveling an exhibition mile in 1:591/4. Peoria, Ill., has been selected as the meeting place of the National Rural Mail Carriers in 1906. Dr. Francisco Garcia Calderon, formre president of Peru, is dead. A mail train on the Pennsylvania railway struck a buggy, near Winamac, Ind., instantly killing Miss Minnie Enyart, 14 years old, and slightly injuring her sister, Miss Blanch Enyart. Francis H. Peabody, member of the Boston banking firm of Kidder, Peabody & Co., died suddenly of heart disease at his home at Beverly Cove, Mass. He was 71 years of age. Capt. W. Boismann, a prisoner of war and commander of the Russian battleship Peresviet, has died at Matsuyama. Four officials of Schwarzschild & Sulzberger, the packing firm, pleaded guilty in Chicago to indictments charging them with conspiracy to accept railroad rebates. They were fined a total of $25,000, which was at once paid. Five men were killed and eightothers seriously injured in a collision between a pay train and a combination passenger and milk train on the Philadelpphia, Harrisburg and Pittsburg branch of the Philadelphia & Reading railroad at Roush's curve, at Mount Holly Springs, Pa. The project for granting the Russian people the right of assembly for political discussion is completed and awaits the action of the czar. who, it is expected, will put the reform into effect next week. President Roosevelt will send a formal note to the czar expressing America's approval of the plans for a peace conference. Shortage of cars at Chicago blocks the movement of wheat in the northwest. Calabria province, Italy, was shaken by more earthquakes and torrential rains add to the suffering of the people. China reports a large increase in customs receipts, adding greatly to the nation's resources. The town of Sutera, in Sicily, was partly buried by the caving-in of mines, and many persons were killed or injured. President Roosevelt and naval experts will ask congress to provide for three new battleships of 18,000 tons displacement, with cruisers, torpedo boats, and other small craft. The plans include an increase in the enlisted force to 40,000 men. Several Norwegian newspapers are opposing the offer of the throne to Prince Charles of Denmark and demand that the people be given opportunity to choose between monarchy and republic. A mob of 10,000 clamored before the doors of the banking house of Schiff & Co., Chicago, when a run on the institution was started by a rumor that Schiff is a bankrupt and has fled. The committee to consider a change in the date of the president's inaugural called a meeting for November 9. Dispatches from the famine districts of Andulasia, Spain, say that entire trains of emigrants are leaving to embark for South America. Many families are abandoning their homes and farms. Some villages in Galacia have been totally deserted. Cuba has apologized to the United States for an insult to the coat of arms. blaming political foes of the Palma administration. The commissioner of pensions reports the work of his bureau as being nearly abreast of the applications, which show no dimunition in number. Col. H. V. Speelman, of Cincinnati, was chosen commander-in-chiefand Peoria, Ill., was selected as the next place of meeting at the encampment of the Sons of Veterans at Chattanooga, Tenn. Members of congress urge taxing alcoholic medicines as a means of providing needed revenue to the government. After being out 21 hours a jury in the superior court at Grand Rapids, Mich., found former Alderman James Mol not guilty of accepting a bribe of $350 from former City Attorney Lant K. Salsbury to aid the noted Lake Michigan water deal.

3. September 28, 1905 The Plymouth Tribune Plymouth, IN
Article from The Plymouth Tribune, September 28, 1905

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WESTERN. Two men were seriously hurt and two others slightly injured when a scaffold fell in the public library building in Chicago. Dr. W. R. Harper, president of the University of Chicago, again submitted to an operation and friends fear the outcome. George M. Cook, formerly editor of the Marietta, Ohio, Leader, committed suicide by drowning in the Muskingum river. Rain-in-the-Face, the noted Sioux Indian chief, who fired the shot which killed Gen. Custer, died on the Standing Rock reservation in South Dakota. Tobies Sepano of Butte, Mont., shot his wife, from whom he had separated five times, and then cut his throat from ear to ear, dying in a few moments. H. F. Blanchard, an expert from the Agricultural Department at Washington, will conduct experiments designed to increase the gluten in California wheat. Fifty persons were injured when the tent of Ringling Brothers' circus was blown down at Maryville, Mo., imprisoning 15,000 spectators under the canvas. Henry Maiwurm of Chicago was elected president and M. J. McCarthy of Chicago secretary of the State Protective Liquor Dealers' Association at Peoria. The supreme lodge of the Knights and Ladies of Honor in session at Indianapo lis, adopted a new insurance policy of $250, and elected officers for the coming year. O. C. Barber will build in Akron, O., a $500,000 church fashioned after the Madeleine in Paris. It will be one of the finest structures of the kind in the country. A. D. Souteia and Frank Meyer were drowned at St. Louis when a barge in which they were crossing the Mississippi river capsized. Four other passengers escaped. Harry Van Waringa, a musician, was shot and dangerously wounded by a highwayman in the wholesale district in Kansas City. Van Waringa fought in the Boer war. Canton Lucas No. 3 of Toledo, Ohio, won the $500 prize in the competitive drill at the annual communication of the sovereign lodges of the Odd Fellows in Philadelphia.. William Kaster of Chicago became the husband the other evening of Miss Cecilia Bearman of St. Joseph, Mo. Two brothers of Kaster are husbands of two sisters of the bride. George Ford, who is believed to be insane, cremated his wife and three children in Madison, Ind., by setting fire to the house in which they were asleep. All four perished in the flames. Gov. Hanly, in a public speech at Hamilton, Ind., declared that former Auditor Sherrick is a common gambler, and that speculation, gaming and drinking made him a defaulter. The Secretary of the Interior has ordered the withdrawal from entry of 300,000 acres of land in the Roswell, N. M., land district on account of the Carlsbad irrigation project. Calvin L. Davis, a soldier in the Philippines, has been pardoned from the Missouri penitentiary by John McKinley, acting Governor. Davis was sentenced on a charge of robbing a Chinese doctor. The Bank of Norstrand, Minn., a private institution, of which A. W. Norton is president, has closed its doors. The bank is capitalized at $10,000. It is not connected with any other bank in the State. A mob of 10,000 clamored before the doors of the banking house of Schiff & Co., 503 Jefferson street, Chicago, when a run on the institution was started by a rumor that Schiff was a bankrupt and had fled. The dead body of Joseph Ballo, an Italian, was found by St. Louis police with one deep stab wound, indicating murder. Catolito Duco and Frank Buffa, two Italians, were arrested, charged with the crime. The Minot National Bank in Minot, N. D., failed to open its doors for busi ness the other morning. Excessive and unreliable loans are given as the cause

4. September 29, 1905 Eagle River Review Eagle River, WI
Article from Eagle River Review, September 29, 1905

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Article Text

Mob Threatens Jewish Bank. A mob of 10,000 clamored before the doors of the banking house of Schiff & Co., 503 Jefferson street, Chicago, when a run on the institution was started by a rumor that Schiff was a bankrupt and had fled.

5. September 30, 1905 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, September 30, 1905

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tions between Russia and Germany which are expected to result in a treaty of mutual defense. A new triple alliance is predicted. Federal officials in Chicago declare no leniency will be shown indicted packers and that the accused will not be permitted to escape jail by pleading guilty. It is said that the fining of packers by Chicago courts in the rebate cases will be used by the railways as an argument against rate legislation, it being argued that the success of the government shows that it has enough power. Rufus Binyon (colored). who murdered his stepdaughter at Ran, in 1900, was executed at Ardmore, I. T. This was the first legal execution ever held in that district. The number of direct memorials to the Emperor of Japan from different associations and individuals condemning the peace treaty and asking that it be not ratified exceeds 40. A Kentuckian upon his arirval home after an absence of several days grasped his six-year-old daughter by the chin to kiss her. lifting her head back. The little one sank to the ground dead. A physiciañ found that her neck had been broken by her father. Audubon Boy equaled the world's record for pacing, held by Star Point er, at the Readville (Miss.) trotting park, traveling an exhibition mile in 1:59½. Peoria, III., has been selected as the meeting place of the National Rural Mail Carriers in 1906. Dr. Francisco Garcia Calderon, formre president of Peru, is dead. A mail train on the Pennsylvania railway struck a buggy. near Winamac. Ind., instantly killing Miss Minnie Enyart, 14 years old, and slightly injuring her sister, Miss Blanch Eayart. Francis H. Peabody, member of the Boston banking firm of Kidder, Peabody & Co., died suddenly of heart disease at his home at Beverly Cove, Mass. He was 71 years of age. Capt. W. Boismann. a prisoner of war and commander of the Russian battleship Peresviet, has died at Mat suyama. Four officials of Schwarzschild & Sulzberger. the packing firm, pleaded guilty in Chicago to indictments charging them with conspiracy to accept railroad re bates. They were fined a total of $25, 000. which was at once paid. Five men were killed and eight others seriously injured in a collision between a pay train and a combination passen ger. and milk train on the Philadelp phia. Harrisburg and Pittsburg branch of the Philadelphia & Reading railroad at Roush's curve, at Mount Holls Springs, Pa. The project for granting the Russian people the right of assembly for politi cal discussion is completed and awaits the action of the czar, who, it is ex pected. will put the reform into effect next week. President Roosevelt will send a forma note to the czar expressing America's approval of the plans for a peace confer ence. Shortage of cars at Chicago blocks the movement of wheat in the northwest. Calabria province, Italy. was shaken by more earthquakes and torrential rains add to the suffering of the people. China reports a large increase in customs receipts, adding greatly to the nation's resources. The town of Sutera. in Sicily, was partly buried by the caving-in of mines, and many persons were killed or injured. President Roosevelt and naval experts will ask congress to provide for three new battleships of 18.000 tons displacement. with cruisers, torpedo boats, and other small craft. The plans inelude an increase in the enlisted force to 40,000 men. Several Norwegian newspapers are opposing the offer of the throne to Prince Charles of Denmark and demand that the people be given opportunity to choose between monarchy and republic. A mob of 10,000 clamored before the doors of the banking house of Schiff & Co., Chicago. when a run on the institution was started by a rumor that Schiff is a bankrupt and has fled.

6. September 30, 1905 Chicago Eagle Chicago, IL
Article from Chicago Eagle, September 30, 1905

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Article Text

Run on Chetto Bank. A mob of 10,000 clamored before the doors of the banking house of Schiff & Co., 503 Jefferson street, Chicago, when a run on the institution was started by a rumor that Schiff was a bankrupt and had fled.