8037. National Bank (Grand Haven, MI)

View Charter #4578 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
4578
Charter Number
4578
Start Date
October 10, 1900
Location
Grand Haven, Michigan (43.063, -86.228)

Metadata

Model
gpt-5-mini
Short Digest
5ffebd2a7e2f5095

Response Measures

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

Description

Multiple contemporary articles (October 1900) describe a deposit run on the Grand Haven National Bank that was stopped when a special train delivered $225,000 from National City Bank of Grand Rapids. The run was linked to the failure of the Grand Haven Leather Company and reported failure of an investment the bank held. The bank paid out funds and remained open; no suspension or closure is reported.

Events (3)
1. June 5, 1891 Chartered
Source
historical_nic
2. October 10, 1900 Run
Cause
Bank Specific Adverse Info
Cause Details
Run triggered by failure of the Grand Haven Leather Company and reports of a failed investment in which the bank was heavily interested.
Measures
Neighboring banks offered aid; National City Bank of Grand Rapids sent $225,000 by special train; bank paid out over $100,000 and met all demands.
Newspaper Excerpt
Two hundred and twenty-five thousand dollars, brought here on a special train ... saved the National bank of this city from a run which threatened the destruction of the institution.
Source
newspapers
3. February 19, 1910 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (6)
1. October 11, 1900 Connecticut Western News North Canaan, Salisbury, Canaan, CT
Article from Connecticut Western News, October 11, 1900

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Article Text

Special Train Saves a Bank. Grand Haven, Mich., Oct. 10.-Two hundred and twenty-five thousand dollars, brought here on a special train guarded by armed men, saved the National bank of this city from a run which threatened the destruction of the institution. The run began unexpectedly. President Cutler is fatally ill, and the failure of the Grand Haven Leather company, in which the bank was heavily interested, was thought to have shaken the financial institution. Excited depositors thronged the place all day Monday, and $100,000 was paid. out. Confidence was partly renewed, and a few depositors returned their money. Early yesterday morning an excited crowd again surrounded the bank. The National City bank of Grand Rapids offered help, and the railroad authorities furnished an engine and coach for a quick run. A cashier and an armed escort brought the $225,000 here, and the bank met all demands so promptly that the run stopped.

2. October 12, 1900 The Penn's Grove Record Penns Grove, NJ
Article from The Penn's Grove Record, October 12, 1900

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Article Text

STOPS RUN ON A BANK. Special Train's Fast Run With $225,000 Which Satisfied Depositors. Grand Haven, Mich. (Special).-A run started a few days ago on the Grand Haven National Bank. One hundred thousand dollars was paid out with interest before the doors closed. It was thought depositors were satisfied. The next day the run began again. An appeal for ready money was made to the National City Bank of Grand Rapids. Cashier Wylie hustled $225,000 into a special car, secured an engine and started. A fast run was made, the money being delivered in time to catch the first demand. The street was lined with excited depositors, but when the situation was explained the demand ceased. The run was caused by the reported failure of an investment made by the bank,

3. October 12, 1900 The Owosso Times Owosso, MI
Article from The Owosso Times, October 12, 1900

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Article Text

Stood the Test. Grand Haven, Mich., October 9.-A run was started on the National bank of Grand Haven yesterday and over $100,000 has been paid out to depositors. What started the scare is a mystery, although it is thought to be an echo of the tannery failure here. The bank was prepared for the excitement and paid dollar for dollar and interest if due. The bank is one of the soundest in Michigan and neighboring banks came forward with offers to loan money for the emergency to the amount of over a million dollars. It is believed now that the people are satisfied and seeing that the bank is prepared to pay every cent will not repeat the run to-day. If they do they will get their money. Yesterday's run, it is believed, was planned by individuals in the hope of wrecking the bank, in order to get even with the officers for fancied wrongs, but the plan failed. Hon. Dwight Cutler is president and Senator William Savidge and Hon. Geo. A. Farr. are among the directors.

4. October 12, 1900 The True Northerner Paw Paw, MI
Article from The True Northerner, October 12, 1900

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Article Text

Stood the Test. Grand Haven, Mich., October 2-A run was started on the National bank of Grand Haven yesterday and over $100,000 has been paid out to depositors. What started the scare is a mystery, although it is thought to be an echo of the tannery failure here. The bank was prepared for the excitement and paid dollar for dollar and interest if due. The bank is one of the soundest in Michigan and neighboring banks came forward with offers to loan money for the emergency to the amount of over a million dollars. It is believed now that the people are satisfied and seeing that the bank is pre pared to pay every cent will not repeat the run to-day. If they do they will get their money. Yesterday's run, it is believed. was planned by individuals in the hope of wrecking the bank, in order to get even with the officers for fancied wrongs, but the plan failed. Hon. Dwight Cutler is president and Senator William Savidge and Hon. Geo. A. Farr are among the directors.

5. October 17, 1900 Fort Mill Times Fort Mill, SC
Article from Fort Mill Times, October 17, 1900

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Article Text

STOPS RUN ON A BANK. Special Train's Fast Run With $225,000, Which Satisfied Depositors. Grand Haven, Mich. (Special).-A run started a few days ago on the Grand Haven National Bank. One hundred thousand dollars was paid out with interest before the doors closed. It was thought depositors were satisfied. The next day the run began again. An appeal for ready money was made to the National City Bank of Grand Rapids. Cashier Wylie hustled $225,000 into a special car. secured an engine and started. A fast run was made, the money being delivered in time to catch the first demand. The street was lined with excited depositors, but when the situation was explained the demand ceased. The run was caused by the reported failure of an investment made by the bank.

6. October 25, 1900 The Butler Weekly Times Butler, MO
Article from The Butler Weekly Times, October 25, 1900

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Article Text

Stopped a Run on a Bank. Grand Haven, Mich., Oct. 10.-A run on the Grand Haven National Bank was checked by the rushing here of a special train loaded with money. One hundred thousand dollars was paid out with interest before the doors closed on Monday. Tuesday the run began again. An appeal for ready money was made to the National City Bank of Grand Rapids. Cashier Wylie hustled $225,000 into a special car, secured an engine and started. A fast run was made, the money being delivered in time to cash the demand. The street was lined with exoited depositors, but when the situation was explained the demand ceased. The run was caused by the reported failure of an invest. ment made by the bank.