gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e81b25c15c084a04
Response Measures
Accommodated withdrawals, Fed/other loan, Public signal of financial health
Events (2)
1.April 25, 1905Chartered
Source
historical_nic
2.July 17, 1929Run
Cause
Rumor Or Misinformation
Cause Details
Directors attributed withdrawals to rumors; statement said 'there positively no justification for any rumour the contrary.'
Measures
Directors issued public statement; armored Federal Reserve truck delivered a large amount of cash; officials deposited more than was paid out.
Newspaper Excerpt
The statement came the of what small run ... a number of depositors withdrew their [money].
Source
newspapers
Newspaper Articles (2)
1.July 18, 1929Bristol Herald CourierBristol, TN
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Article Text
PETERSBURG BANK REPORTED SOUND
Va. July (AP) issued today by the statement Virginia National directors the declared that the Bank this city thoroughly sound institution condition. The stateand solvent result of what ment came be termed slight run might the yesterday today number drew their money. statement said: "The bank sound solvent thoroughly there positively no justification for and the part of any rumor the contrary absolutely without Shortly issued this afternoon, an armored Richmond Federal truck Reserve Bank arrived the bank and unloaded large amount the exact sum not being money, made known.
2.July 18, 1929Richmond Times-DispatchRichmond, VA
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Article Text
Directors Say Petersburg Bank Solvent
Declare Virginia National At Cockade City In Entirely Sound Condition
[Special to The Times-Dispatch. PETERSBURG, July 17-Directors the Virginia National Bank of this today issued statement declaring that the institution in thoroughly sound and solvent condiThe statement came the of what small run bank and today which number of deposi withdrew their The statement issued said: The bank thoroughly solvent and there posttively no justification for any uneas' ness the part any and rumor the contrary lutely without The statement was the following directors Keeler, bach. Mark Paul Roper. Wallace M. Samuel Burwell, H. Poole Wills Shortly after the statement was early truck the Richmond serve arrived the bank and unloaded large amount money much money was taken was made Five ficials Richmond bank the truck More companied was deposited yesterday than was paid out. of the bank continued The Virginia National aBnk the largest oldest tersburg Its officers are among prominent and citizens Petersburg Wright prestdent, and B. Kinsey cashier
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
