gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
226b21538a232a01
Response Measures
None
Events (1)
1.December 31, 1931Run
Cause
Rumor Or Misinformation
Cause Details
Described as an unwarranted raid and withdrawals driven by fright/nervousness rather than bank insolvency.
Measures
Issued public statement of solvency; obtained cooperation and cash support from First and Merchants National Bank, National Credit Corporation, and large firms; increased available cash in vaults.
Newspaper Excerpt
Ryland, president, that the bank has additional cash ... to withstand the unwarranted raid which is being made by some customers due entirely to fright.
PLENTY OF CASH IN THE VAULTS
Ryland. President of C. Bank & Trust Issues Statement That Ample Funds Are Provided
Dec. confidence North Carolina Bank Trust company and the Branch Banking were today John rector the Credit Corporation the Federal Redistrict and Gurney Hood, bank commissioner Miller, long distance telwith the RalTimes from said North Carolina bank with its branches planed "to carry on who wants their pay North Carolina Bank and Trust received course of coming over eight million dollars in cold Miller said. "Deposits are bereceived probably fast being made out. Sevthe largest corporation the United States have wired their co-operation. Mr. Miller said that in his opinmanagement North Carolina Bank and Trust company among the in state North Carolina, and deserving the full support chenand without state." Mr. Hood issued statement the North Carolina Bank been examined by us in all of its units and have into statement and in the amply He added for any run on this In regard to the Branch Banking and Trust Hood said the strongest banking North Carolina. amply well managed and board directors. He added there was no excuse for any run on this bank
Greensboro Dec. W. Ryland. of the North Carolina Bank and Company issued statement the bank was "amply good" for and raid which being by some tomers due fright." bank position to meet the demands which are being made Through the wonderful cooperation support John M. Miller. president of the First Merchants National Bank. and director the National Credit Corporation also through the cooperation some of largest concerns in this we have available for use over additional cash bank amply good for all its and expect withstand the which being made by some customers to fright bank heavy drawals the closing of the United Bank and Trust nere. situation quiet financial district and there few withdrawals from banks.
FOR
Widespread Expressions of Confidence Forthcoming About Situation Here
STATEMENT BY RYLAND
North Carolina Bank President Says Institution Good for All Its Liabilities
Assurance this morning that the North Carolina Bank and Trust company would withstand any and all demands made on it customers through the statement Ryland, president, that the bank has additional cash for its The statement pointed out that through co-operation of John the First and Merchants National bank. of Richmond also director of the National Credit corporation. the local bank has immediately almost unlimited cash resources Full Confidence. Further support and co-operation has been received from various of the largest concerns in the country notable among them being the Imperial Tobacco company. limited These companies expressed their complete confidence leaving their large balances with the local bank Intact The fact that the North Carolina Bank and Trust company has available once for its own the use sum of additional cash tually dissipates the possibility that the bank might be placed in an embarrassing position Good Liabilities. Mr. Ryland further said that the North Carolina bank is amply good for all its liabilities and fully expects come successfully through the "unwarranted raid which is ing made some customers due entirely fright After meeting successfully the yesterday the bank today experiencing rapidly dwindling demand for cash part customers and many cases re-deposits being made. indicating restoration of confidence the stability of the Text The text Ryland's statement issued to the newspapers today follows: North Carolina Bank and Trust company position to meet all the demands which are being made on Through the derful and support of John M president of the First and Merchants National bank of and director the National Credit and also through co-operation some of the largest commercial cerns in this country have able for ruse additional bank is amply good for its liabilities expect withstand the raid which being made by some customers due Many have been the expressions of the soundness of the North Carolina bank coming from both large depositors of the bank and other institutions widely separated sections of the country Included among the messages the quoted below which typical the general trend feeling among the larger enterprises of the country relative to the banking Virginia, Dec. Ryland We have complete confidence in
(Continued on Page Seven.)
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.
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North Carolina Bank & Trust Company · UID 66005571584
