First National Bank (Port Arthur, TX)

View Charter #5485 on SPMC View balance sheet

Episode Information

Episode UID
548501589
Episode Type
Run Only
Bank Type
national
Bank ID
54850 national
Charter Number
5485
Start Date
May 27, 1932
Location
Port Arthur, Texas (29.899, -93.929)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e8260a683b7230f4

Response Measures

Accommodated withdrawals

Events (2)
1. July 7, 1900 Chartered
Source
historical_nic
2. May 27, 1932 Run
Cause
Rumor Or Misinformation
Cause Details
False rumor started by an irresponsible person triggered depositor panic; bank met withdrawals and paid depositors in full.
Random Run
Yes
Random Run Snippet
false rumor started by some irresponsible person; bank paid depositors in full
Measures
Bank met the run and paid off depositors one hundred cents on the dollar.
Newspaper Excerpt
due to a false rumor started by some irresponsible person the depositors of The First National Bank of Port Arthur were thrown into a panic and started a run on the bank.
Source
newspapers

Newspaper Articles (2)
1. May 27, 1932 The Rayne Acadian-Tribune Rayne, LA

Article Text

FALSE RUMORS In reading the Port Arthur (Tex.) News, I learn that due to a false rumor started by some irresponsible person the depositors of The First National Bank of Port Arthur were thrown into a panic and started a run on the bank. A run on the bank of any community is assault upon the community bulwark! It turns faith and confidence into madness and unreasoning fear! And what is more terrible than mass fear? It is so unreasoning, so determined, so heartless, so relentless! And in the case of the First National Bank of Port Arthur all this display of fear and disruption of the community affairs was so uncalled for! The bank met the run and paid off the depositors one hundred cents on the dollar. The whole tragic exhibition of a stampeded citizenship is the result of rumors started by some unthinking, irresponsible person or persons. Perhaps the person or persons are now feeling the poignant pangs of remorse, but that does not repair the harm done, nor does it guarantee that similar or greater damage will not be done in future by the person or persons who started the bank panic! The starting of false and malicious rumors invariably emanates from an abnormal and twisted brain! Without doubt the Port Arthur authorities will have a potential lunatic on their hands when they locate the source of the false bank rumor, and confinement for curative mental treatment should follow!

2. June 3, 1932 The Hammond Vindicator Hammond, LA

Article Text

False Rumors In reading the Port Arthur (Texas) News, I learn that due to a false rumor started by some irresponsible person the depositors of the First National bank of Port Arthur were thrown into a panic and started a run on the bank. A run on the bank of any community is assault upon the community bulwark! It turns faith and confidence into madness and unreasoning fear! And what is more terrible than mass fear? It is so unreasoning, so determined, so heartless, so relentless! And in the case of the First National bank of Port Arthur all this display of fear and disruption of the community affairs was so uncalled for! The bank met the run and paid off the depositors one hundred cents on the dollar. The whole tragic exhibition of a stampeded citizenship is the result of rumors started by some unthinking, irresponsible person or persons. Perhaps the person or persons are now feeling the poignant pangs of remorse—but that does not repair the harm done—nor does it guarantee that similar or greater damage will not be done in future by the person or persons who started the bank panic. The starting of false and malicious rumors invariably emanates from an abnormal and twisted brain! Without doubt the Port Arthur authorities will have a potential lunatic on their hands when they locate the source of the false bank rumor—and confinement for curative mental treatment should follow!