4850. German Bank (Freeport, IL)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
October 3, 1906
Location
Freeport, Illinois (42.297, -89.621)

Metadata

Model
gpt-5-mini
Short Digest
afa0e187

Response Measures

Accommodated withdrawals

Description

Multiple contemporaneous newspapers (Oct 3–11, 1906) report a run on the German Bank in Freeport, Ill., in which the bank met all demands (paid out ~$50,000) and remained open. One report (article 8) refers to it as the German State bank, hence bank_type set to state. No suspension, receivership, or closure is reported; run described as unaccountable and in one account tied to rumors of insolvency.

Events (1)

1. October 3, 1906 Run
Cause
Rumor Or Misinformation
Cause Details
Described as an unaccountable run; one account says it followed rumors that the bank was insolvent.
Measures
Remained open several hours after usual time; met all demands promptly and paid out about $50,000.
Newspaper Excerpt
There was a run on the German bank, the largest and one of the most solid in the city...the banking room was crowded with small depositors...the bank remained open several hours after the usual time, and met all demands promptly, paying out $50,000.
Source
newspapers

Newspaper Articles (8)

Article from Evening Times-Republican, October 3, 1906

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Article Text

RUN ON FREEPORT BANK. Small Depositors Rush to Withdraw Money, But Demands Are Met. Freeport, III., Oct. 3.-There was a. run on the German bank, the largest and one of the most solid in the city, yesterday, and all afternoon the banking room was crowded with small depositors, mostly of whom were women, drawing out the money. The larger customers of the bank expressed confidence in its ability, and many made additional deposits. The bank remained open several hours after the usual time ,and met all demands promptly, paying out $50,000.


Article from Rock Island Argus, October 3, 1906

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Article Text

FREEPORT BANK HAS RUN Small Depositors Rush to Withdraw Their Money. Freeport, Ill., Oct. 3.-There was a run on the German bank, the largest and one of the most solid in the city, yesterday and all afternoon the banking room was crowded with small depositors, most of whom were women, drawing out the money. The larger customers of the bank expressed confidence in its stability, and many made additional deposits. The bank remained open several hours after the usual time, and met all demands promptly, paying out $50,000.


Article from Alexandria Gazette, October 3, 1906

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Article Text

TELEGRAPHIC BREVITIES. It is probable that District Attorney John B. Moran will be nominated for governor of Massachusetts in the democratic convention tomorrow in Boston practically by acclamation. A wholesale jail delivery took place at Newark, Ohio, this morning, when eight prisoners confined in the county jail overpowered the turekey and escaped. Only one has teen cap ured so far. There were few signs of the run on the German Bank, at Freeport, III., which began yesterday. Those withdrawing their deposits today are mostly women. The bank is prepared for all contingencies as the run is about over. Booker T. Washington, jr., son of the president of Tuskegee Institute, in Alabama, is strangely missing from Dummer Academy at Rowley, Mass. He has not been seen since Monday afternoon when he boarded a car for Newburyport. Two workmen are dead and two fatally injured as the result of a terrific explosion of gis this morning at the plant of the Colorado Fuel and Iron Company at Pueble, Colorado. Furnace "G" was wrecked and it is believed others may have lost their lives and their bodies are in the debris. The damage is reported to be very great. Federal Judge Dayton created somewhat of a sensation by his closing remarks to the grand jury at Clarksburg, W Va., today, regarding the manufacture and sale of intoxicating liquors. He declared that of those who engaged in the traffic 99 of every 100 are dishonest and can give no excuse to society for engaging in a business that destroys the home. Young "Teddy" Roosevelt's room mate, Shaun Kelley, pleaded not guilty before the Boston court today on a charge of assault and battery growing out of the fracas on Boston Common last Thursday night when a policeman was knocked down. Keiley was held to appear for trial on October 10, in $200 bail.


Article from The Washington Times, October 3, 1906

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Article Text

BANK PROMPTLY MET DEPOSITORS' DEMANDS FREEPORT, III., Oct. 3.-There was a run on the German Bank, the largest and one of the most solid in the city Tuesday, The larger customers of the bank expressed confidence in its stability and The many made additional deposits. bank remained open several hours after the usual time and met all demands promptly, paying out $50,000.


Article from Iowa County Democrat, October 4, 1906

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Article Text

UNACCOUNTABLE RUN ON FREEPORT BANK Freeport, Ill., Oct. 3.-There was an unaccountable run on the German bank yesterday. Forty or fifty thousand dollars were handed over the counter before the demand for funds ceased, the bank paying everybody who appeared. It is thought that there will be no trouble today.


Article from The Denison Review, October 4, 1906

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Article Text

TELEGRAMS TERSELY TOLD President Amador of Panama, accompanied by his wife, will make an extended visit to the United States next summer. Macey Boruse, mayor of Kokomo, Ind., died suddenly, aged thirty-eight. It is thought that the cause of his death was diphtheria. Mayor George F. Hoyle, recruiting officer of the United States army. was struck by a train at College Point, Ga., and died in an hour. Rev. D. Andrew W. Williamson, who for many years occupied the chair of philosophy at the Swedish Lutheran college, Rock Island, Ill., died at Portland, Ore., aged seventy years. Before a crowd of 40,000 people Dan Patch broke the track record for the Illinois state fair grounds at Springfield, when in an exhibition mile the great horse paced the distance in 1:591/4. There was an unaccountable run on the German bank at Freeport, Ill. About $50,000 were handed over the counter before the demand for funds ceased, the bank paying everybody who appeared. Socialists to Resume Terrorism. Warsaw, Oct. 3.-The Associated Press was informed that the executive committee of the socialists, at a meeting held here, decided upon an active resumption of terrorism. The bodies of twenty-nine members of the Seventh cavalry, who were killed in the battle with Sioux Indians at Pine Ridge agency, South Dakota, on Dec. 29, 1890, have just been exhumed and shipped to Fort Riley for interment in the post cemetery. Impressivo commitment services were held at the Arlington National cemetery, Washington, over the body of Rev. Dr. Robert J. Nevin, who achieved a world-wide reputation by establishing St. Paul's Episcopal church, the first Protestant Episcopal church in Rome, of which he was rector for thirty years. He died suddenly in Mexico.


Article from Iowa State Bystander, October 5, 1906

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Article Text

Run on Freeport Bank. Freeport, III.-There was an unaccountable run on the German bank Tuesday. Forty or fifty thousand dollars were handed over the counter before the demand ceased, the bank paying everybody who appeared.


Article from Northern Wisconsin Advertiser, October 11, 1906

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Article Text

was arrested at Philadelphia charged with using the mails to defraud heirs of a wealthy Englishman. The body of John Kraus, an old soldier, was found in the woods near Rockfield, Wis. The man had died from exposure and hunger. The monthly statements show a surplus of $11,227,036 in receipts over expenditures for September. The public debt shrinks $16,122,090. Mrs. Langtry reached New York to begin an engagement in vaudeville and declared it is "tabloid tragedy," not a "sketch," she is to give. Control of the Wisconsin Central railroad reported about to be transferred to some eastern trunk line, possibly the Erie or Canadian Pacific. A run started on the German State bank at Freeport, Ill., following rumors that it was insolvent. All demands were met and the panic subsided. Advices from the gulf coast storm region bear out the estimates of the loss of 200 lives and the destruction of property worth upward of $10,000,000. President Roosevelt dined with the jackies on the battleship Missouri after target practice and smoked a cigar the men got for him from the canteen. At Janesville for the first time in the history of the city out of 1,885 pupils enrolled in the city schools the boys outnumber the girls by twenty-five Car ferry No. 2 of the Wisconsin and Michigan Railroad turned turtle at the mouth of the Chicago river and three of its crew of six men were drowned. Attorney General Moody and Secretary of the Treasury Shaw will retire during winter and Ambassador Meyer will be named to fill one of the vacancies. Senator Piatt tried to evade a settlement with Mrs. Piatt by giving his property to his sons. His wife's ultimatum is: "He bought my beauty: let him pay the price." Frank P. Phillips, 14 years old, of De Pere, has sued the Portage Transit company of Duluth for $10,000 for injuries resulting from a cake of ice falling on his hand. New York creditors filed an involuntary petition in bankruptcy against George Freeman & Co. of Syracuse, clothing manufacturers. The liabilities are $90,000, with small assets. Blackmailers extorted $20,000 from Mrs. R. T. Robinson, the wealthy woman of Racine, under threats of death. Two men were arrested in Milwaukee accused of the crime. The loss of life by the storm along the gulf coast is estimated at 250; damage to property, $10,000,000. Picturesque little towns planted along shore were wiped out of existence. Brigadier General Samuel M. Mills, chief of artillery, has been placed on the retired list on his own application on account of illness. He was succeeded by Colonel Arthur Murray. The case of Caleb Powers, under sentence of death for the assassination of William Goebel in January, 1900, was passed to the February term by agreement of counsel at Georgetown, Ky. At Kenosha grave apprehension is felt on account of the rapid spread of typhoid fever. Seven cases are now being cared for at the Kenosha hospital, and scores of other cases are reported in different parts of the city. Two prominent Kenosha merchants brought into court pleaded guilty to violations of the pure food law by selling impure pepper. The fines, $25 and costs in each case, were paid by representatives of the Chicago wholesale houses The date for the dedication of the new $50,000 Carnegie library at Lawrence university has been set for Oct. 19, and President Harris of Northwestern university, Evanston, Ill., and President Van Hise of Wisconsin university will be the principal speakers. Gov. Davidson has appointed the following delegates to represent Wisconsin at the annual meeting of the upper Mississippi river improvement association, which will be held at Minneapolis, Oct. 9 and 10: Senator J. A. Frear, Hudson; Walter Owen, Maiden Rock; J. L. Orr, Glen Haven; E. C. Higbee and James Thompson, La Crosse. Architect A. C. Clas of Milwaukee has been appointed by Gov. Davidson as a member of the Devils Lake and Wisconsin Dells park commission, which was created by the legislature two years ago to investigate and report on the advisability of the state purchasing the land around Devils lake and the Wisconsin dells for park