6746. Germania Savings Bank (New Orleans, LA)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
October 13, 1905
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
3cd3320d281fc946

Response Measures

None

Description

Multiple contemporaneous articles (Oct 13โ€“16, 1905) report a short run triggered by a newspaper story alleging the bank held $30,000 in defaulted Rushmere Planting (Plating) Company bonds. Officers said they had taken the bonds and borne the loss; the run ceased and confidence was restored. The bank did not suspend payments and reopened/continued business.

Events (2)

1. October 13, 1905 Run
Cause
Rumor Or Misinformation
Cause Details
A newspaper story alleged the bank held $30,000 of Rushmere Planting company mortgage bonds that had defaulted; officers stated they and associates had taken the bonds off the bank and shouldered the loss.
Random Run
Yes
Random Run Snippet
Newspaper story alleged bank held $30,000 in defaulted bonds; officers covered loss
Measures
Bank officers publicly stated they and associates had taken the bonds and absorbed the loss; clearing house issued a statement restoring confidence; depositors redeposited funds.
Newspaper Excerpt
Owing probably to the publication of a story in a newspaper here, a run began this afternoon on the Germania Savings bank.
Source
newspapers
2. October 16, 1905 Reopening
Newspaper Excerpt
The run on the Germania Savings bank has entirely ceased. The clearing house made a statement ... the credit of the bank unimpaired. When the bank opened today there was nobody waiting to withdraw money.
Source
newspapers

Newspaper Articles (10)

Article from The Salt Lake Herald, October 14, 1905

Click image to open full size in new tab

Article Text

NEWSPAPER STORY CAUSED RUN ON BANK New Orleans. Oct. 13.-Owing probably to the publication of a story in a newspaper here, a run began this afternoon on the Germania Savings bank. Many small depositors withdrew their deposits, few knowing the reason for the run. The story was that the bank held $30,000 of of the mortgage bonds of the Rushmere Plating company, in which Vice President Blaffer of the bank is interested, and that the company had defaulted. Mr. Blaffer said that he and his associates had taken the bonds off the hands of the bank and shouldered the loss themselves. While the run was on Germania bank stock was quoted on the stock exchange at $1,500 a share, a rise of ten points during the day. The bank is regarded as one of the staunchest in this city.


Article from Omaha Daily Bee, October 14, 1905

Click image to open full size in new tab

Article Text

RUN ON NEW ORLEANS BANK Rumor that Savings Concern Holds Bad Paper Causes Withdrawal of Deposits. NEW ORLEANS, Oct. 13.-Owing probably to the publication of a story in a newspaper here, a run began this afternoon on the Germania Savings bank. Many small depositors withdrew their deposits, few knowing the reason for the run. The story was that the bank held $30,000 of the mortgage bonds of the Rushmere Planting company, in which Vice President Blaffer of the bank is interested, and that the company had defaulted. Mr. Blaffer said that he and his associates had taken the bonds off the hands of the bank and shouldered the loss themselves. While the run was on Germania bank stock was quoted on the Stock exchange at $150 a share, a rise of ten points during the day. The bank is regarded as one of the staunchest in this city.


Article from Arizona Republican, October 14, 1905

Click image to open full size in new tab

Article Text

RUN ON A BANK. While it Was On the Institution's Stock Rose. New Orleans, Oct. 13.-Owing probably to the publication of a story in a newspaper here, a run began today on the Germania savings bank. Many small depositors withdrew their deposits, few knowing the reason for the run. The story was that the bank held $30,000 of the mortgage bonds of the Rushmere Planting company, in which Vice President Blaffer of the bank is interested, and that the company had


Article from The Topeka State Journal, October 16, 1905

Click image to open full size in new tab

Article Text

Bank Run Stops. New Orleans, La., Oct. 16.-The run on the Germania Savings bank has entirely ceased. The clearing house made a statement today that they considered the Germania incident entirely closed and the credit of the bank unimpaired


Article from Evening Times-Republican, October 16, 1905

Click image to open full size in new tab

Article Text

Bank Run Ceases. New Orleans, Oct. 16.-The run on the Germania Savings bank has entirely ceased.


Article from Rock Island Argus, October 16, 1905

Click image to open full size in new tab

Article Text

New Orleans Run Ends. New Orleans, Oct. 16.-The run on the Germania Savings bank has entirely ceased.


Article from The Minneapolis Journal, October 16, 1905

Click image to open full size in new tab

Article Text

NEW ORLEANS BANK RUN CEASES. New Orleans, Oct. 16.-The run on the Germania savings bank has entirely ceased.


Article from The Montgomery Advertiser, October 17, 1905

Click image to open full size in new tab

Article Text

Run on Bank Thing of Past. New Orleans, Oct. 16.-The run on the Germania Savings Bank has entirely ceased and the excitement of Friday and Saturday has entirely passed. When the bank opened today there was nobody waiting to withdraw money. and as the hours passed, it became evident that confidence in the institution had been fully restored. Before 11 o'clock the deposits of twenty of those who had taken their money out last week were presented for redeposit.


Article from Ottumwa Tri-Weekly Courier, October 17, 1905

Click image to open full size in new tab

Article Text

Bank Withstands Run. New Orleans, La., Oct. 16. - The run of the Germania Savings bank has entirely ceased after lasting three days.


Article from The Montgomery Tribune, October 20, 1905

Click image to open full size in new tab

Article Text

# GENERAL NEWS ITEMS. Alfred Gwynne Vanderbilt and Paul Sartori, the Italian automobile driver, barrowly escaped death while out on a trial spin over the Vanderbilt cup course on Long Island. They were capsized while going at a terrific pace and only escaped by being thrown into soft earth. One man was killed and a large number injured, some fatally, by a stampede of artillery horses attached to limbers belonging to the Twenty-ninth battery, at target practice near Fort Riley, Kas. The horses dashed over a small cliff, landing in a frightful mass with their drivers. Sir Henry Irving, the well-known English actor, was seized with syncope after returning to his hotel following a performance at Bradford, England, on the night of the 13th inst., and died in a few minutes. The Missouri building at the Lewis and Clark exposition at Portiand, Ore., with all of its contents, including exhibits and the art and statuary collection, was destroyed by fire on the night of the 13th inst. Maj. Gen. John F. Weston has been formally detailed to the command of the northern military division, with headquarters at St. Louis, to succeed Maj-Gen. George M. Randail, retired. A dozen firemen were cut and bruised by falling debris and a score of horses burned to death in the destruction of the Lasalle Avenue livery barns in Chicago. One fireman and an employe of the stable may die. Ten negro roustabouts were drowned when the steamer Elk struck a snag and sank while backing away from the landing at Vicksburg. Miss. A Mexico City disatch reports Alexander Dowie and party leaving for Tampico on a special car to inspect the lands it is proposed to purchose for the new Zion city. Dowie was in good health. The profits of the alleged conspirators in the cotton crop leakage are placed approximately at $200,000, of which, it is alleged, E. S. Holmes received $25,017. Gen. A. L. Mills, superintendent of the West Point military academy, says that hazing in any form has shown no symptom of reappearing among the cadets The president has commuted sentence of dismissal from the army of Louis McLaue Hamilton, a great grandson of Alexander Hamilton, to reduction of 30 files in rank. There was a run on the Germania savings bank in New Orleans, started by a newspaper story, but all demands were met, the institution being one of the staunchest in the city. John Donahue, who was committed to jall, in Chicago, by Judge Kohlsaat, for contempt of court, and who took an appeal to the United States circuit court of appeals, has signified a desire to purge himself of his contempt. Six miners were imprisoned by fire in the mine of the Clyde Coal Co. at Fredericktown, Pa., and at last accounts all hope of rescuing them had been abandoned. William Mills Ivins has been selected as the republican candidate for mayor of New York elty in place of Charles E. Hughes, who declined the nomination. Mr. Ivins has accepted. C. I. McNair, B. F. Nelson and A. 8. Bossard were adjudged in contempt of court by Judge Vandevanter in the United States district court at St. Paul, Minn., and ordered committed to jail. They refused to produce books and answer questions in respect to the conduct of their paper mills. The Marinette and Menominee paper mill plant at Marinette, Wis., was nearly destroyed by fire. Loss, $150,000 covered by insurance. Yankee Consul, a noted thoroughbred, died at Lexington, Ky., of pneumonia. He was trained by "Bub" May, and was valued at $100,000.