Mechanics Dime Savings Bank (Raleigh, NC)

Episode Information

Episode UID
7123311791215
Episode Type
Run Only
Bank Type
savings
Bank ID
712331179 hash
Start Date
March 4, 1901
Location
Raleigh, North Carolina (35.772, -78.639)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9b83f97d11aba69f

Response Measures

None

Description

Article uses both Mechanic's and Mechanics; OCR variation only.

Events (1)
1. March 4, 1901 Run
Cause
Rumor Or Misinformation
Cause Details
Started by vague/wild rumors among railroad employees that prompted small withdrawals.
Measures
Bank posted a notice at closing; management reassured public and bank remained unembarrassed.
Newspaper Excerpt
A small run on the Mechanic's Dime Savings Bank yesterday. It began soon after the bank opened for business...
Source
newspapers

Newspaper Articles (2)
1. March 5, 1901 The News & Observer Raleigh, NC
Article from The News & Observer, March 5, 1901

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Article Text

The people of Raleigh who know their true condition are proud of its banking institutions. Not one is better bottomed in resources and popular confidence than the Mechanics Dime Savings Bank. A small run on it yesterday, started by vague rumors, served to show its strength. Its stock is way above par and its as solid as any institution in North Carolina.

2. March 5, 1901 The News & Observer Raleigh, NC
Article from The News & Observer, March 5, 1901

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Article Text

# A FOOLISH RUN # ON A FINE BANK Railroad Employes Took a Small Scare. # WILD RUMORS CAUSED IT The Bank Was Not Embarrassed by the Withdrawa's. # ITS STOCK IN DEMAND AT A PREMIUM President Johnson Says the Bank is in Better Condition Than Ever Before, and Its Business Record Shows a Steady Growth. There was a small "run" on the Mechanic's Dime Savings Bank yesterday. It began soon after the bank opened for business and continued until about noon, when the number and amount of the withdrawals began to fall off. When closing hour arrived the following notice was posted.