Article Text
Small Run on Bank
Piqua, O., Aug. 23.-The Piqua Savings bank experienced a small run today among savings depositors. The directors issued a statement that the bank was solvent and supported this by a pledge of their individual fortunes.
Piqua Savings Bank (Piqua, OH)
Episode Information
- Episode Type
- Run Only
- Start Date
- August 23, 1905
- Location
- Piqua, Ohio (40.145, -84.242)
- Bank Type
- savings
Metadata
Events (1)
1.
August 23, 1905
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Rumors among depositors (started among stove works employees after a mutual benefit association failed) prompted withdrawals beginning Aug 23 and continuing through Aug 25.
- Measures
- Directors issued statement asserting solvency and pledged their individual fortunes to support the bank.
- Newspaper Excerpt
- Small Run on Bank. Piqua, O., Aug. 23.-The Piqua Savings bank experienced a small run today among savings depositors.
- Source
- newspapers
Newspaper Articles (2)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
CONTINUED TWO DAYS
Fright Started a Run on the Piqua Savings Bank. Piqua, O., Aug. 25.-Rumors started a run on the Piqua Savings bank, which is patronized largely by the working classes, who intrust their small surplus earnings to its keeping and who can ill afford to lose. The run developed Tuesday, when stove works employes began withdrawing their deposits. A mutual benefit association among them recently went to pieces and its money was withdrawn from the savings bank. But a comparatively small number became alarmed the first day, only about $5,000 being withdrawn. Wednesday the run continued and a larger number demanded their money. When the bank first opened its doors Thursday morning the run promised to continue with unabated force, as the lobby was quickly filled with patrons with bank books in their hands. They proved, however, amenable to reason, and many left without taking out their money.