777. Merchants National Bank (Los Angeles, CA)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
3538
Charter Number
3538
Start Date
February 24, 1910
Location
Los Angeles, California (34.052, -118.244)

Metadata

Model
gpt-5-mini
Short Digest
4197c41f8648594d

Response Measures

Accommodated withdrawals

Description

Several contemporaneous wire reports (Feb 24, 1910) describe a brief run caused by a crowd gathering to see boxer Jim Jeffries; depositors withdrew funds briefly but were reassured and replaced savings after he left. No suspension or closure is mentioned.

Events (3)

1. July 22, 1886 Chartered
Source
historical_nic
2. February 24, 1910 Run
Cause
Rumor Or Misinformation
Cause Details
Curious crowd gathered to see boxer Jim Jeffries; depositors misinterpreted the crowd as evidence of bank troubles, prompting withdrawals until the crowd dispersed and patrons were reassured.
Random Run
Yes
Random Run Snippet
Crowd to see Jeffries mistaken for bank trouble; rumor false
Newspaper Excerpt
When Jim Jeffries went into the Merchants National bank ... his presence drew a large crowd and started a run on the institution.
Source
newspapers
3. December 31, 1928 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (6)

Article from The Evening Statesman, February 24, 1910

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Article Text

Run on Bank. LOS ANGELES, Feb. 24.-When Jim Jeffries went into the Merchants National bank to put away some of his theatrical earnings, his presence drew a large crowd and started a run on the institution. Scores of depositors, thinking something was wrong, began cashing in and not until the fighter retired did the frightened patrons become reassured.


Article from The Spokane Press, February 24, 1910

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Article Text

JEFFRIES ALMOST CAUSED BANK RUN (By United Press Leased Wire) LOS ANGELES, Feb. 24.When Jim Jeffries went into the Merchants' National bank to put away a little of his theatrical "pile" his presence drew a crowd of the curious and started a run on the institution, causing its officials symptoms of heart failure from which they had hardly recovered today. The first depositor who saw the crowd about the bank had visions of his money being hypothecated and he entered the bank with a rush. Soon scores of other depositors were "cashing in," and it was not until the fighter retired with a greater number of the throng that the frightened depositors became reassured and replaced their savings.


Article from The Spokane Press, February 24, 1910

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Article Text

JEFFRIES ALMOST CAUSED BANK RUN (By United Press Leased Wire) LOS ANGELES, Feb. 24.When Jim Jeffries went into the Merchants' National bank to put away a little of his theatrical "pile" his presence drew a crowd of the curious and started a run on the institution, causing its officials symptoms of heart failure from which they had hardly recovered today. The first depositor who saw the crowd about the bank had visions of his money being hypothecated and he entered the bank with a rush. Soon scores of other depositors were "cashing in," and it was not until the fighter retired with a greater number of the throng that the frightened depositors became reassured and replaced their savings.


Article from East Oregonian : E.O, February 24, 1910

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Article Text

SIGHT OF JEFFRIES NEARLY BREAKS BANK. Los Angeles, Calif., Feb. 24. - When Jim Jeffries went in to the Merchants' National bank to put away some theatrical earnings, his presence drew a large crowd and started a run on the institution Scores of depositors, thinking something was wrong, began cashing in and not until the fighter retired did the frightened patrons become reassured.


Article from The Tacoma Times, February 24, 1910

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Article Text

RUN ON BANK WHEN JEFF ENTERS (By United Press Leased Wire.) LOS ANGELES, Feb. 24.When Jim Jeffries went into the Merchants' National bank to put away a little of his theatrical "pile" his presence drew a crowd of curious and started a run on the institution, causing its officials symptoms of heart failure from which they had hardly recovered today. The first depositor who saw the crowd about the bank had visions of his money being hypothecated and he entered the bank with a rush. Soon scores of other depositors were "cashing in" and it was not until the fighter retired with a greater number of the throng, that the frightened depositors became reassured and replaced their savings.


Article from The San Francisco Call, February 24, 1910

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Article Text

JEFFRIES STARTS RUN ON LOS ANGELES BANK Depositors Mistake Cause of Crowd Gathered to See Him LOS ANGELES, Feb. What's all the excitement about?" asked a policeman today, as he hurried toward Third and Spring streets, where a large crowd had assembled. "It's a run on the Merchants' national bank." some one shouted. Soon the cry was taken up generally and the crowd in front of the bank became SO dense that a riot call for the police was turned in. Several depositors fought their way up to the paying teller's windows and withdrew their funds, while the astounded bank officials wondered what it was all about. When the police had dispersed the crowd in front of the bank the cause of the excitement was learned. James J. Jeffries, the pugilist, had gone into the institution to cash a check and the prompt assembling of several hundred curious persons to get a glimpse of the former champion had given rise to the rumor that there was a run on the bank.