South Louisville Savings & Deposit Bank

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: August 11, 1910
Location: Louisville, Kentucky (38.254, -85.759)

Metadata

Model: gpt-5-mini
Short Digest: 89de9381

Response Measures

Accommodated withdrawals

Description

Brief depositor run (6–8 hours) triggered by a local rumor after a stopped check for a mule purchase; bank paid out funds promptly and remained open. Date of run reported Aug 11, 1910.

Events (1)

1. August 11, 1910 Run

Cause: Rumor Or Misinformation
Cause Details: Holder of a dishonored check (75 dollars) spoke that the bank was not equal to its obligations; the remark spread as a rumor causing depositors to demand funds.
Measures: Paid depositors promptly; $63,540 withdrawn; bank said to have ample resources.
Newspaper Excerpt: The death of a mule ... was directly responsible for a run on that institution yesterday that lasted for six or eight hours. ... Dr. W. H. Netherland ... announced ... that $63,540 had been drawn out of the bank.
Source: newspapers

Newspaper Articles (3)

1. August 12, 1910 Atlanta Semi-Weekly Journal Atlanta, GA

Article from Atlanta Semi-Weekly Journal, August 12, 1910

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Article Text

RUN ON BANK CAUSED BY DEATH OF MULE But Louisville Institution Has Ample Resources and Depositors Get Money (By Associated Press.) LOUISVILLE, Ky., Aug. 11.-The death of a mule in South Louisville Monday subjected the South Louisville Savings and Deposit bank, at Fourth and Central avenues, to more than its share of inconvenience and was directly responsible for a run on that institution yesterday that lasted for six or eight hours. From early morning up to noon yesterday the depositors from all over the southern section clamored for their money. Dr. W. H. Netherland, president of the bank, announced yesterday when order had been restored in some measure, that $63,540 had been drawn out of the bank. The stampede of the depositors came about in a most unusual manner. A few days ago John Colgazier purchased a mule. Mr. Colgazier gave his check for $75 in payment and when the mule died suddenly he stopped payment on the check at the South Louisville bank. Mr. Colgazier's action, of course, prevented the officers of the bank from honoring the check and consequently when It was presented for payment. it was turned down. The holder of the check, according to Dr. Netherland, casually remarked at the general store and blacksmith shop in the vicinity that the bank was not equal to its obligations. The rumor spread like wild fire and yesterday when the bank opened a large crowd, all depositors, had collected. All wishing their money were paid promptly, as the bank has ample resources.

2. August 12, 1910 The Hattiesburg News Hattiesburg, MS

Article from The Hattiesburg News, August 12, 1910

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Article Text

MULE RESPONSIBLE FOR RUN ON BANK Animal Died And Purchaser Stopped Paymen of a Check Which He Had Given For It. (By Associated Press.) Louisville, Ky., Aug. 12.-The death of a mule in South Louisville Monday subjected the South Louisville Savings and Deposit Bank at Fourth and Central avenues to more than its share of inconvenience and was directly responsible for a run on that institution yesterday that lasted for six or eight hours. From early morning up to noon Wednesday the depositors from all over the southern section clamored for their money. Dr. W. H. Netherland, president of the bank, announced yesterday when order had been restored in some measure, that $63,540 had been drawn out of the bank. The stampede of the depositors came about in a most unusual manner; a few days ago John Colglazier purchased a mule. Mr. Colglazier gave his check for $75 in payment and when the mule died suddenly he stopped payment on the check at the South Louisville Bank. Mr. Colglazier's action of course, prevented the officers of the bank from honoring the check and consequently when it was presented for payment it was turned down. The holder of the check, according to Dr. Netherland, casually remarked at the general store and blacksmith shop rn the vicinity that the bank was not equal to its obligations. The rumor spread like wild fire and yesterday when the bank opened a large crowd, all depositors, had collected, all wishing their money which was paid promptly as the bank has ample resources.

3. August 12, 1910 The Birmingham Age-Herald Birmingham, AL

Article from The Birmingham Age-Herald, August 12, 1910

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Article Text

DEATH OF MULE CAUSES BRIEF RUN ON BANK Louisville, Ky., August 11.-The death of a mule in South Louisville Monday subjected the South Louisville Savings and Deposit bank, at Fourth and Central avenues, to more than its share of inconvenience, and was directly responsible for a run on that institution yesterday that lasted for six or eight hours. From early morning to noon yesterday the depositors from all over the southern section clambered for their money. Dr. W. H. Netherland, president of the bank, announced yesterday when order had been restored in some measure, that $63,540 had been drawn out of the bank. The stampede of the depositors came about in a most unusual manner. A few days ago John Colglazier purchased a mule. Mr. Colglazier gave his check for $75 in payment, and when the mule died suddenly he stopped payment on the check at the South Louisville bank. Mr. Colglazier's action, of course, prevented the officers of the bank from honoring the check, and consequently when it was presented for payment it was turned down. The holder of the check, according to Dr. Netherland, casually remarked at the general store and blacksmith shop in the vicinity that the bank was not equal to its obligations. The rumor spread like wildfire and yesterday when the bank opened a large crowd, all depositors, had collected. All wishing their money were paid promptly, as the bank has ample resources.