False report of the bank's suspension circulated; managers denied the report and assured they could meet demands.
Random Run
Yes
Random Run Snippet
Reported suspension of the bank was without foundation (false report).
Newspaper Excerpt
The reported suspension of the Home Bank of Meriden is without foundation and its managers are confident that they will be able to meet whatever demands may be made upon them.
Source
newspapers
Newspaper Articles (1)
1.October 1, 1857Delaware Weekly RepublicanWilmington, DE
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Article Text
THE HOME BANK OF MERIDEN
-Hartford, Sept.-27.-The reported suspension of the Home Bank of Meriden is without foundation and its managers are confident that they will be able to meet whatever demands may be made upon them. PARER MORE
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.