gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1064c3f2b6865c2f
Response Measures
None
Events (1)
1.November 6, 1928Run
Cause
Rumor Or Misinformation
Cause Details
Circulation of political pamphlets falsely claiming the Pope endorsed Hoover triggered withdrawals.
Measures
President refused to pay out additional money and placated the crowd; reopened doors and calmed depositors.
Newspaper Excerpt
A run on the Bank of Italy, precipitated, authorities claim, through the circulation of political propaganda that the Pope of Rome had indorsed Herbert Hoover for the presidency, was halted last night after more than $4,000 had been withdrawn.
Source
newspapers
Newspaper Articles (11)
1.November 6, 1928Evening StarWashington, DC
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Article Text
By the Associated Press. ERIE, Pa., November 6.-A run on the Bank of Italy, precipitated, authorities claim, through the circulation of political propaganda that the Pope of Rome had indorsed Herbert Moover for the presidency, was halted last night after more than $4,000 had been withdrawn during the late afternoon hours. The run on the bank started at closing time. When the bank reopened its doors last night more than one thousand depositors were in front of the doors. Leonard Tasquallicio, president of the bank, demanded the reason for
2.November 6, 1928Evening StarWashington, DC
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Article Text
Bank Head Halts Run Caused by Report That Pope of Rome Had Indorsed Hoover By the Associated Press. the gathering and was showered with ERIE, Pa., November 6.-A run on pamphlets citing the Pope as indorsing the Bank of Italy, precipitated, auHoover. He then refused to pay out additional moneys and succeeded in thorities claim, through the circulaplacating the crowd. tion of political propaganda that the According to several of the depositors, Pope of Rome had indorsed Herbert the circulars were secured at a political rally, and in addition to stating that Moover for the presidency, was halted the Pope had indorsed Hoover said that last night after more than $4,000 had Tasquallicio, who was to have addressed been withdrawn during the late afternoon hours. a Republican rally last night, was about The run on the bank started at closto depart for Italy with the bank funds. Tasquallicio's appearance before the ing time. When the bank reopened its bank's depositors calmed them somedoors last night more than one thouwhat, but after he had dispersed the sand depositors were in front of the gathering it was too late for him to doors. Leonard Tasquallicio, president attend the rally. of the bank, demanded the reason for
3.November 6, 1928The Indianapolis NewsIndianapolis, IN
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Article Text
"Pope for Hoover" Rumor Causes Big Run on Bank
ERIE, Pa., November 6 run on the Bank of Italy, authorities say, by circulation of politleal that the pope in Rome had indorsed Herbert Hoover for the presidency was halted after more han $4,000 had been withdrawn. More than 1,000 depositors were in front of the doors one time. Leonard president of the bank, demanded the reason for the gathering and was showered with the pope as indorsing Hoover. He then refused to pay out additional money and in placating the crowd. to several depositors the circulars obtained political In addition to saying the pope had indorsed Hoover, the circulars Tasquallicio, who was to have addressed rally, was about to depart for Italy with the bank before bank's depositors calmed them somewhat but after he had dispersed the gathering it was too late for him to attend the rally
4.November 6, 1928The Huntington PressHuntington, IN
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Article Text
RUN STARTS ON BANK OF ITALY
ERIE, Nov. the bank of Italy, recipitated, authorclaim, through the circulation political propaganda that the Pope Rome had endorsed Herbert Hoover the was halted tonight more than $4,000 had been during the late hours. The run the bank started at closing time. When the bank reopened its doors tonight more than one thousand depositors were front of the doors. Leonard Tasquallicio, president of bank, demanded the reason for the gathering and was showered with pamphlets citing the Pope endorsing Hoover. then refused pay additional monies and succeeded in placating the crowd. According several the depositors the circulars were secured political rally end addition stating that the Pope had endorsed Hoover that Tasquallicio, was addressRepublican rally tonight, was about depart for Italy with the bank funds.
5.November 6, 1928The Tipton Daily TribuneTipton, IN
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Article Text
RUN ON BANK.
After Ramor Pope Had Endorsed Hoover.
Erie. Pa., Nov. 6.-A run on the Bank of Italy. precipitated. authorities say, by circulation of political propaganda that the pope in Rome had endorsed Herbert Hoover for the presidency, was halted after more than $4,000 had been withdrawn. More than 1,000 depositors were in: front of the doors at one time. Leonard Tasquillicio, president of the bank. demanded the reason for the gathering and was showered with pamphlets representing the pope as endorsing Hoover. He then refused to pay out additional money and succeeded in placating the crowd. Acording to several depositors the circulars were obtained at a political rally In addition to saying the pope endorsed Hoover. the circulars said Tasquallicio. who was to have addressed a Republican rally. was about to depart for Italy. with the bank's money Tasquallicio's appearance before the bank'sN depositors calmed them somewhat, but after he had dispersed the gathering it was too late for him to attend the rally.
6.November 6, 1928The Spokesman-ReviewSpokane, WA
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POLITICS CAUSE BANK RUN
Page's Alleged Indorsement of HeoGiven -- Cause. ERIE. Nov. (#)-A run on the Bank Italy thorities claim. through the circulation of political propaganda that the pope Rome had indorsed Herbert halted the presidency, tonight more than $4000 had been withdrawn during hours. The run on the bank started at closing time. the bank opened Its tonight more front of the doors president of demanded the reason for the pope as indorsing Hoover He refused pay out placating the
7.November 6, 1928The Ogden Standard-ExaminerOgden, UT
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Article Text
PRESIDENT CHECKS BANK OF ITALY RUN
ERIE Pa., Nov. run on the Bank of Italy, precipitated, authorities claim, through the of political propaganda that the of had indorsed for the presidency, was halted after than $4000 been withdrawn during the late afternoon hours. The run the bank started at closing time. the bank reopened its doors more than 1000 depositors were in front of the doors. Leonard Tasquallicio, president of the bank, demanded the reason for the gathering and was citing the pope as indorsing Hoover He then refused to pay out additional and succeeded in placating the According to several of the derally and in addition to stating that the pope had indorsed Hoover said that who was to addressed Republican rally Monday night about depart for Italy the bank funds. before the bank's calmed them but after he had the gatHering it was late for him to attend the rully.
8.November 6, 1928The Sacramento BeeSacramento, CA
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Article Text
Run On Bank Of Italy Branch Started By Wild Rumor In Eastern City ERIE (Pa.), Nov. run on the Bank of Italy, precipitated. the authorities claim, through the circulation of political propagnda that the pope of Rome had en dorsed Herbert Hoover for the presidency, was halted last night after more than $4,000 had been withdrawn during the late afternoon hours. The run on the bank started at closing time. When the bank opened its doors than 1,000 depositors were in front of the doors. Leonard Tasquallicio, president of the bank. demanded the reason for the gathering and was show ered with pamphlets citing the pope as endorsing Hoover He then refused to pay out additional money and succeeded in placating the crowd.
9.November 6, 1928Evening starWashington, DC
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Article Text
Bank Head Halts Run Caused by Report That Pope of Rome Had Indorsed Hoover
By Associated Press. ERIE, Pa., November 6.-A run on the Bank of Italy, precipitated, authorities claim, through the circulation of political propaganda that the Pope of Rome had indorsed Herbert Hoover for the presidency, was halted night after more had been withdrawn during the late afterhours. The run on the bank started at closing time. When the bank its doors last night more than one thousand in front the doors. Leonard of the bank, demanded the reason for the gathering and was showered with pamphlets citing the Pope as indorsing Hoover He then refused to pay out additional moneys and succeeded in placating the crowd. According to several of the depositors, the circulars secured political and addition to stating that the Pope had indorsed said that was have Republican rally last night, was about depart for Italy with the bank funds. Tasquallicio's appearance before the bank's depositors calmed them somewhat, after he had the too late for him to attend the rally.
10.November 6, 1928The Buffalo TimesBuffalo, NY
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Article Text
Election Propaganda Starts Run on Bank of Italy at Erie
By Associated Press. ERIE. Pa., Nov. 6.-A run on the bank of Italy. precipitated. authorities claim through the circulation of political propaganda that the Pope of Rome had endorsed Herbert for the Presidency. was halted last night after more than $4,000 had been withdrawn during the late afternoon hours. The run on the bank started at closing time. When the bank reopened its than one deposiwere in front of the doors Leonard Tasquallicio, president of the bank, demanded the reason for the gathering and was showered with pamphlets cit-
:ng the Pope as endorsing Hoover. He then refused to pay out additional monies and succeeded in placating the crowd. According to several of the depositors the circulars were at political rally and in addition to stating that the pope had endorsed Hoover they said that Tasquallicio. who was to have addressed Republican rally, was about to depart Italy with the bank appearance before depositors calmed them somewhat, but after he had dispersed the gathering it was too late for him to atend the rally.
11.November 7, 1928The Buffalo NewsBuffalo, NY
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Article Text
RUMOR OF POPE ENDORSING HOOVER STARTS BANK RUN ERIE. Pa., Nov run on the Bank of Italy. precipitated claim. through circulation of political propaganda that the pope of Rome had endorsed Herbert Hoover for the presidency, was halted last night after more than $4000 had been withdrawn during the late afternoon hours The run on the bank started at closIng time. When the bank reopened its doors last night more than 1000 depositors were front of the doors Leonard of the bank, demanded the reason for the gathering and was with pamphlets the pope as endorsing Hoover He then refused to pay out additional monies and succeeded in placating the
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.
