Lowell Institution For Savings

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: April 30, 1932
Location: Lowell, Massachusetts (42.633, -71.316)

Metadata

Model: gpt-5-mini
Short Digest: c62d658c

Response Measures

Accommodated withdrawals

Description

Newspaper reports a run triggered by 'idle rumors' but bank remained open after officials (Bank Commissioner Arthur Guy) ordered it kept open and reassured depositors. No suspension or closure mentioned.

Events (1)

1. April 30, 1932 Run

Cause: Rumor Or Misinformation
Cause Details: Idle rumors circulated about the bank's condition, prompting depositors to rush the bank; officials reassured public and kept bank open.
Measures: Bank Commissioner ordered the bank be kept open two hours and publicly assured depositors; bank remained open.
Newspaper Excerpt: The telegram from Guy followed hectic day which stormed and milled about bank ... ordered that be kept open two hours time assured the depositors that they had no cause for alarm. was trace the idle rumors which led run on the bank.
Source: newspapers

Newspaper Articles (1)

1. April 30, 1932 Biddeford-Saco Journal Biddeford, ME

Article from Biddeford-Saco Journal, April 30, 1932

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Article Text

Lowell Banks Reported Sound Lawell, Mass., April telegram Slowey night, Bank Com. Arthur Guy said: Lowell Institution for Savings, as all other Lowell banks sound financial condition. Depositors have no cause for The telegram from Guy followed hectic day which stormed and milled about bank from in the until in the James of the bank, ordered that be kept open two hours time assured the depositors that they had no cause for alarm. was trace the idle rumors which led run on the bank.