First National Bank (Portland, IN)

View Charter #7180 on SPMC View balance sheet

Episode Information

Episode UID
718001572
Episode Type
Run Only
Bank Type
national
Bank ID
71800 national
Charter Number
7180
Start Date
December 13, 1930
Location
Portland, Indiana (40.434, -84.978)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8f08dea92e3152ab

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health, Books examined

Events (2)
1. March 22, 1904 Chartered
Source
historical_nic
2. December 13, 1930 Run
Cause
Rumor Or Misinformation
Cause Details
A false rumor about the bank's condition prompted large withdrawals.
Measures
Cash shipments totaling $110,000 brought from Marion and Fort Wayne under guard; public address by Frank H. Cutshall restoring confidence.
Newspaper Excerpt
checked a run on the First National bank here, which started on a false rumor regarding the bank's condition.
Source
newspapers

Newspaper Articles (3)
1. December 13, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, December 13, 1930

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Article Text

RUN HALTED AT PORTLAND BANK Money and Speech Offset Effect of False Rumor. By Times Special PORTLAND, Ind., Dec. 13.-Several thousands of dollars brought here under guard from Marion and Ft. Wayne, and a speech by Frank H. Cutshall, a banker in the latter city, checked a run on the First National bank here, which started on a false rumor regarding the bank's condition. In all, $110,000 was brought to the bank. Cutshall, president of the Old National bank of Ft. Wayne, brought $40,000 here, and spoke to a crowd of frightened depositors, telling them that an examination disclosed the local bank to be in excellent condition.

2. December 13, 1930 Courier-Post Camden, NJ
Article from Courier-Post, December 13, 1930

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Article Text

RUN ON BANK CEASES; BEGUN BY FALSE RUMOR Portland, Ind., the First $800,000 today after banks Fort and sent $110,000 here in fast automobiles under armed The run continued all day yesterday but brought back ited by withdrew yesterday officials said Frank president of the Old National Bank Wayne. brought cash and pleaded lobby with the recover their equilibrium.

3. December 14, 1930 Leader-Tribune Marion, IN
Article from Leader-Tribune, December 14, 1930

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Article Text

Marion Bank Helps Stop Portland Institution Run officials of the First request Bank, Portland, for cash National with which meet the bank resulted, Friday, run sent the more than $30,000 the Marion Nainstitution from tional which said to have The run, been started by false rumor of the bank, officials to Marion request to send Fort $110,000 in cash to meet the emertemporary loan was Marion National bank vanced by the the cash reserves the instifrom tution. The Portland officials vised that this sum would be ficient although the bank here offered advance larger sum. The Portland bank organized by John many years ago Adair, former and regarded one of the most conservative institutions in the eastern part of state. The throughout Friday, more than $20,000 brought back and by depositors who withdrew the preceding day.