Trenton Saving Fund Society (Trenton, NJ)

Episode Information

Episode UID
55007471077
Episode Type
Run Only
Bank Type
savings
Bank ID
5500747 routing
Routing Number
55-0074
Start Date
September 21, 1889
Location
Trenton, New Jersey (40.217, -74.743)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3d79a59dd3dd3dd0

Response Measures

None

Events (1)
1. September 21, 1889 Run
Cause
Rumor Or Misinformation
Cause Details
A rumor among Hungarian/Italian depositors that the bank had been robbed and had suspended payments; officers called the rumor groundless.
Random Run
Yes
Random Run Snippet
rumor the bank had been robbed; officers said rumor was groundless
Measures
Tellers paid out over $15,000 and met every demand; other banks offered assistance though not needed.
Newspaper Excerpt
A rumor ... that the Trenton Savings Fund Society had been robbed, and had suspended payment. They became panic-stricken and flocked in large numbers to the bank.
Source
newspapers

Newspaper Articles (6)
1. September 22, 1889 New-York Tribune New York, NY
Article from New-York Tribune, September 22, 1889

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Article Text

HUNGARIAN DEPOSITORS ALARMED. Trenton, N. J., Sept. 21.-The Trenton Savings Fund Society, doing a heavy business with the Hungarians working in the iron mills, had a "run" from its depositors this morning. Some one started a rumor among the Hungarlans that the bank had been robbed, and had suspended payment. They became panic-stricken and flocked in large numbers to the bank. So many of them stopped work at the mills of John A. Roebling's Sons & Co. that the mills were shut down. At the bank the tellers paid out over $15,000, and met every demand without hesita. tion. The officers said that the rumor was groundless, and they knew of nothing that could have caused it.

2. September 22, 1889 The Morning News Savannah, GA
Article from The Morning News, September 22, 1889

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Article Text

A RUN ON A BANK. All Except the Small Depositors Satisfied of Its Soundness. TRENTON, N. J., Sept. 21.-A report originated in one of the iron mills here today that the Trenton Savings Bank was defaulting in its payments. Soon the bank was besieged by depositors demanding their money. In a little while the bank officials were able to show all except small depositors that there was not any sort of an excuse for the report, the bank having a surplus of $400,000 and its funds being chiefly in government bonds. Small depositors, however, consisting chiefly of Hungarians and other foreigness, kept u their run all day. and the bank paid out $15,000. Every demand was met.

3. September 22, 1889 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, September 22, 1889

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Article Text

Run on a Bank. [By telegraph to the Dispatch.] TRENTON, N. J., September 21.-A report originated in one of the iron-mills here today that the Trenton Savings Bank was defaulting in its payments. Soonthe bank was besieged by depositors demanding their money. In a little while the bank officials were able to show all except the small depositors that there was not any sort of excuse for the report, the bank having & surplus of $400,000 and its funds being chiefly in Government bonds. The small depositors, however, consisting chiefly of Hungarians and other foreign laborers. kept up their run all day, and the bank paid out $15,000. Every demand was met.

4. September 22, 1889 The Sunday Morning News Jersey City, NJ
Article from The Sunday Morning News, September 22, 1889

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Article Text

A Bank Run Shuts Down a Mill. Special to the Sunday Morning News. TRENTON, Sept. 21, 1889.-A rumor to the effect that the Trenton Savings Fund Society had failed and suspended payment gained currency among the Hungarian population here this morning and caused much excitement. So many of the Hungarians left off work to go to the bank that the big mill of John A. Roebling's Sons & Company was compelled to shut down. Great droves of the foreigners went to the bank and drew out their savings. Over $15,000 was paid out this morning. One rumor was to the effect that a robbery caused the suspension. A NEWS reporter found the bank officers unruffled. They said the rumor was absurd and entirely groundless. They knew nothing of its origin.

5. September 22, 1889 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, September 22, 1889

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Article Text

Run on a Jersey Bank. TRENTON, N.J., Sept. 21.-A run was started on the Trenton Savings Fund Society's bank to-day by a rumor to the effect that it had been robbed. Its depositors for the most part are Hungarians employed in the Union mills here. When the reports reached them they became panic stricken, quit work. and in a short time a large crowd had congregated around the bank building. So many quit work that the mills had to shut down. At the bank every demand was met. Some $15,000 was paid out. There is no truth in the reported robbery.

6. September 23, 1889 The Jersey City News Jersey City, NJ
Article from The Jersey City News, September 23, 1889

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Article Text

The Trenton Savings Bank Run. The Trenton True American says of the run on the Trenton Savings Bank, reported in these columns Saturday, that it was confined to the Hungarian and Italian contingent of the city:"The ready payment of the first demands appeared to have no effect on those who came after, for the run was kept up until the hour of closing, when the bank had paid out $15,000. There would have been no difficulty had the demands been many times as large, as the bank has securities, readily convertible into cash, to the amount of $2,000,000. The whole amount entrusted to them by depositors is $1,800,000. "The other banks, hearing of the run, tendered assistance, but it was not needed. President Parker says that he did not know the orgin of the absurd rumors. One of them was to the effect that the bank had been robbed."