Five Cents Savings Bank

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: July 29, 1921
Location: Boston, Massachusetts (42.358, -71.060)

Metadata

Model: gpt-5-mini
Short Digest: 3f9dd322

Response Measures

Public signal of financial health

Description

Article (Barre Daily Times, 1921-07-30) reports a small run on the Five Cents Savings Bank in Boston on July 29, 1921 driven by a scare and unfounded withdrawals; bank commissioner and bank president said institution was in excellent condition. No suspension or closure mentioned.

Events (1)

1. July 29, 1921 Run

Cause: Rumor Or Misinformation
Cause Details: A scare prompted hasty withdrawals (mostly by foreigners); bank commissioner said there was no foundation for the withdrawals.
Newspaper Excerpt: RUN ON BOSTON BANK. Scare Starts Withdrawals of Deposits from Five Cents Saving Bank. Boston, July 29.-A run was begun to-day on the Five Cents Savings bank. It did not reach large proportions.
Source: newspapers

Newspaper Articles (1)

1. July 30, 1921 The Barre Daily Times Barre, VT

Article from The Barre Daily Times, July 30, 1921

Click image to open full size in new tab

Article Text

RUN ON BOSTON BANK. Scare Starts Withdrawals of Deposits from Five Cents Saving Bank. Boston, July 29.-A run was be. gun to-day on the Five Cents Savings bank. It did not reach large propor. tions. Bank Commissioner Joseph C. Allen and Wilmot R. Evans, president of the bank, announced that there was no foundation for the hasty withdraw. als, most of which were by foreigners. The bank commissioner said the institution was in excellent condition.