7042. Brockton Savings Bank (Brockton, MA)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
October 11, 1898
Location
Brockton, Massachusetts (42.083, -71.018)

Metadata

Model
gpt-5-mini
Short Digest
5fafd307763c1885

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Oct 12, 1898) describe a same-day run (Oct 11, 1898) on the Brockton Savings Bank caused by a false report originating from a Swedish resident misunderstanding her letter carrier. The bank was not suspended, declared its regular dividend at directors' meeting, and many depositors redeposited funds the same day.

Events (1)
1. October 11, 1898 Run
Cause
Rumor Or Misinformation
Cause Details
False report spread after a Swedish resident misunderstood her letter carrier, thinking a Minneapolis bank's closure referred to Brockton Savings Bank.
Random Run
Yes
Random Run Snippet
Swedish woman misunderstood letter carrier; false report of closing
Measures
Directors held regular quarterly meeting, declared 4% dividend; many who withdrew later redeposited funds; bank remained open and was unaffected.
Newspaper Excerpt
There was quite a run on the Brockton Savings bank today ... The small panic was caused by a false report which started in the south end of the city that the bank was planning to close up. The report came from a Swedish resident who misunderstood her letter carrier.
Source
newspapers

Newspaper Articles (6)
1. October 12, 1898 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, October 12, 1898

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Article Text

RUN ON BROCKTON BANK. Brockton, Mass., October 11. I There was quite a run on the Brockton Savings bank today, which lasted from the opening time this morning, until the closing time in the afternoon. The small panic was caused by a false report which started in the south end of the city that the bank was planning to close up. The report came from a Swedish resident who misunderstood her letter carrier. The latter told her that a Minneapolis bank had been closed and she understood it to be the Brockton Savings bank. She had money there and warned all her friends. The bank has assets of over $2,320,000 and the little withdrawal of this afternoon did not amount to $35,000 as far as could be judged. Many who withdrew early in the day came back later and deposited their money again.

2. October 12, 1898 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, October 12, 1898

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Article Text

RUN ON A BROCKTON BANK. Caused by a Swedish Woman Misunder= standing R Lettercarrier. Brockton, Mass., Oct. 11.-There was quite a run on the Brockton Savings bank to-day, a small panic being started by a false report about the bank planning to close up. The report came from a Swedish woman who misunderstood a letter carrier. The latter told her that a Minneapolis bank had been closed and she understood it the Brockton Savings bank. She had money there and warned all her friends. Sums ranging from $100 to $900 were drawn by individual depositors, but the bank was not affected at all. The regular quarterly meeting of the directors was held this afternoon and the regular four per cent. dividend was declared. The bank has assets of over $2,320,000, and the withdrawal to-day did not amount to $35,000. Many who withdrew early in the day came back later and deposited their money again.

3. October 12, 1898 The Worcester Spy Worcester, MA
Article from The Worcester Spy, October 12, 1898

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Article Text

A SMALL PANIC. Run On a Brockton Bank Through False Report. Brockton, Oct. - -There was quite a run on the Brockton Savings Bank today, a small panic being started by a false report about the bank planning to close up. The report came from a Swedish resident, who misunderstood her 5 letter carrier. The latter told her that a Minneapolis bank had been closed, and she understood it the Brockton Savings Bank. She had money there and warned all her friends. Sums ranging from $100 to $900 were drawn by individual depositors, but as the bank is one of the strongest in New England, they were not affected at all. The regular quarterly meeting of the directors was held this afternoon, and the regular 4 per cent dividend was declared. The bank has assets of over $2,320,000, and the withdrawal today did not amount to $35,000. Many who withdrew early in the day came back later and deposited their money again.

4. October 12, 1898 The Providence News Providence, RI
Article from The Providence News, October 12, 1898

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Article Text

RUN ON A SAVINGS BANK. Brockton, Oct. 12.-There was quite a run on the Brockton savings bank yesterday, which lasted from the opening until the closing. It was caused by a false report in the south end about the bank planning to close. The story came from a Swedish resident, who misunderstood her letter carrier. The latter told her that a Minneapo.ia bank had been closed. She warned all her friends. The news spread rapidly. and soon depositors from all over the city flocked to the bank. Sums ranging from $100 to $900 were drawn by individual depositors, but as the bank is one of the strongest in New England it was not affected. The institution has assets of over $2,320,000. and the withdrat wals did not amount to $35,000. Many who withdrew early in the day deposited their money again.

5. October 12, 1898 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, October 12, 1898

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Article Text

RUN ON BROCKTON BANK. Swedish Resident Misunderstands Letter Carrier and Causes Trouble. Brockton, Mass., Oct. .-There was quite a run on the Brockton Savings Bank, today, which lasted from the opening time, this morning, until the closing time in the afternoon. The small panic was caused by a false report which started in the south end of the city, that the bank was preparing to close up. The report came from a Swedish resident who misunderstood her letter carrier. The latter told her that a Minneapolis bank had been closed and she understood it to be the Brockton Savings Bank. She had money there and warned all her friends. The news spread rapidly and soon depositors from all over the city flocked to the bank. Sums ranging from $100 to $900 were drawn by individual depositors, but as the bank is one of the strongest in New England, it was not affected at all. The regular quarterly meeting of the directors was held, late this afternoon. and the regular 4 per cent. dividend was declared. The bank has assets of over $2.320,000, and the little withdrawal, this afternoon, did not amount to $35.000 as far as could be judged. Many wno withdrew early in the day later came back and again deposited their money.

6. October 15, 1898 Spirit of the Age Woodstock, VT
Article from Spirit of the Age, October 15, 1898

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Article Text

Misunderstood Her Letter Carrier. Brockton. Oct. 12.-There was quite a run on the Brockton savings bank yesterday, which lasted from the opening until the closing. It was caused by a false réport in the south end about the bank planning to close. The story came from a Swedish resident, who misunderstood her letter carrier. The latter told her that a Minneaporia bank had been closed. She warned all her friends The news spread rapidly, and soon depositors from all over the city flocked to the bank. Sums ranging from $100 to $900 were drawn by individual depositors, but as the bank is one of the strongest in New England it was not affected. The institution has assets of over $2,320,000. and the withdrawals did not amount to $35,000. Many who withdrew early in the day deposited their money again.