A Bank Run at Cleveland. CLEVELAND, June 7.-A run is in progress on the St. Clair street branch of the East End Savings Bank Company. Many depositors were promptly paid. Offers from other city banks were received, but refused by the officers, who said their bank was entirely solvent and able to care for itself. The depositors are confined almost exclusively to workingmen. No cause is assigned, except rumors due to failures in other cities.
2.June 8, 1893The TimesRichmond, VA
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THE BANK "RUN" CRAZE. Raid on a Cleveland Bank-Several Other Small Failures. CLEVELAND O., June 7.-A run is in progress on the St. Clair street branch of the East End Savings Bank Company. It began yesterday afternoon and was opened this morning with increased vigor. Many depositors were promptly paid. Offers from other city banks were received but refused by the officers, who said their bank was entirely solvent and able to care for Itself. The depositors are confined almost exclusively to workingmen. No cause is assigned except uneasiness due to failures in other cities.
3.June 8, 1893The Morning NewsSavannah, GA
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A RUN ON A SAVINGS BANK. Cleveland Workingmen Drawing Out Their Deposits on a Scare. Cleveland, O., June 7.-A run is in progress on the St. Clair street branch of the East End Savings Bank Company. It began yesterday afternoon and was opened this morning with increased vigor. Many depositors were promptly paid. Offers from other city banks were received, but refused by the officers, who said their bank was entirely solvent and able to care for itself. The depositors are confined almost exclusively to workingmen. No cause is assigned except uneasiness due to failnres in other cities.
4.June 8, 1893New-York TribuneNew York, NY
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RUN ON A CLEVELAND BANK. Cleveland, June 7.-A run was in progress today on the St. Clair-st. branch of the East End Savings Bank Company. It began yesterday afternoon, and was opened this morning with increased vigor. Many of the depositors were promptly paid. Offers from other city banks were received, but refused by the officers, who said their bank was entirely solvent and able to care for itself. The depositors are confined almost exclusively to workingmen. No cause is assigned except rumors due to failures in other cities.
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.