Peoples Savings Bank (Evansville, IN)

Episode Information

Episode Type
Run Only
Start Date
July 22, 1892
Location
Evansville, Indiana (37.975, -87.556)
Bank Type
savings
Routing Number
71-0003

Metadata

Events (1)

1. July 22, 1892 Run
Cause
Rumor Or Misinformation
Cause Details
A practical joke/canard circulated and magnified, causing depositors to panic and withdraw funds.
Random Run
Yes
Random Run Snippet
A joke started a run; panic caused by a silly joke (false rumor)
Measures
Bank paid depositors promptly from cash on hand and drew on other banks if needed; reported ample cash reserves.
Newspaper Excerpt
A run was started on the People's Saving bank today and at the closing hour about $240,000 had been paid to frightened depositors. The panic was caused by a joke that magnified as it went the rounds
Source
newspapers

Newspaper Articles (10)

Article from Grand Rapids Herald, July 23, 1892

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Article Text

RUN ON A BANK

A Joke Costs a Savings Bank a Large Reduction in Deposits. EVANSVILLE, July 22.-A run was started on the People's Saving bank today and at the closing hour about $240,000 had been paid to frightened depositors. The panic was caused by a joke that magnified as it went the rounds and tinally became serious. Many people were at the bank at daylight this morning so anxious were they. All depositors were paid promptly without a question. The bank 18 solvent and has a surplus over moneys deposited. They have in cash over $500,000 to meet claims, and can raise $250,000 if needed from other banks.


Article from New-York Tribune, July 24, 1892

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Article Text

RUN ON A BANK CAUSED BY A JOKE. Evansville, Ind., July 23.-A silly joke caused a small run on the People's Savings Bank. About $3,800 was withdrawn, mostly small savings of poor people. The bank Is said to be in sound condition, and has $500,000 in its vaults, and can pay out every dollar of its liabilities and have a big surplus left.


Article from Evening Star, July 26, 1892

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Article Text

The strike of Wabash railroad men in Indiana has ended in a complete victory for the men. A joke started a run on the People's Savings Bank at Evansville, Ind., which weathered the gale safely.


Article from The True Northerner, July 27, 1892

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Article Text

THE BANK STOOD THE RUN

A Panic Caused by a Joke Makes Depositors Draw Their Money. At Evansville, Ind., a run was started on the People's Savings Bank. and at the closing hour about $40,000 had been paid to frightened depositors. The panic was started by a joke that magnifed as it went the rounds and finally became serious. Many poor people were at the bank at daylight, SO anxious were they. All depositors were paid promptly without a question. The bank is solid and has a surplus over moneys deposited They have in cash over $500,000 to meet claims and can raise $250,000, if needed, from other banks.


Article from The Russellville Democrat, July 28, 1892

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Article Text

A Silly Joke

EVANSVILLE, IND., July 23. - A silly joke caused a small-sized run on the People's Savings Bank to lose about $380, withdrawn mostly from small saving poor people. The bank, however, is said to be in a sound condition, and has $50,000 in the vaults and can pay out every dollar of its liabilities and have a big surplus left.


Article from Crawford Avalanche, July 28, 1892

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Article Text

THE BANK STOOD THE RUN

A Panic Caused by a Joke Makes Depositors Draw Their Money. At Evansville, Ind., a run was started on the People's Savings Bank. and at the closing hour about $40,000 had been paid to frightened depositors. The panic was started by a joke that magnified as it went the rounds and finally became serious. Many poor people were at the bank at daylight, SO anxious were they. All depositors were paid promptly without a question. The bank is solid and has a surplus over moneys deposited They have in cash over $500,000 to meet claims and can raise $250,000, if needed, from other banks.


Article from The Bolivar Bulletin, July 29, 1892

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Article Text

Run on a Bank

to EVANSVILLE, Ind. July 24.s run was started yesterday on the People's Savings bank and at the closing hour about $40,000 had r een paid to frightened depositor The panic was caused by a joke that magnified as it went the rounds, and finally became serious Many poor people were at the bar at daylight yesterday morning, 60 anxious were they. All depositors were paid promptly withouta question. The bank is solid, and has a surpl us over moneys deposited. They have in cash over $500,000 to meet claims and can raise $250,000 more, if needed. T


Article from The Princeton Union, August 4, 1892

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Article Text

A CANARD started by a practical joker started a run which came near swamping the People's Savings Bank of Evansville, Ind. A joke like that would seem to call for about five mirthful years in a well regulated penitentiary.


Article from Courier Democrat, August 11, 1892

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Article Text

A CANARD started by a practical joker started a run which came near swamping the People's Savings Bank of Evansville, Ind. A joke like that would seem to call for about five mirthful years in a well regulated penitentiary.


Article from The Bottineau Pioneer, August 13, 1892

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Article Text

A CANARD started by a practical joker started a run which came near swamping the People's Savings Bank of Evansville, Ind. A joke like that would seem to call for about five nirthful years in a well regulated peniten' "y.