Article Text
P Feared a Failure. Natick, Mass., March 15.-A run on the Natick Five-Cent Savings bank is /
8181. Natick Five Cents Savings Bank (Natick, MA)
Bank Information
- Episode Type
- Run Only
- Bank Type
- savings bank
- Start Date
- March 15, 1901
- Location
- Natick, Massachusetts (42.283, -71.350)
Metadata
- Model
- gpt-5-mini
- Short Digest
034dc46f
Response Measures
Accommodated withdrawals, Public signal of financial health
Description
Multiple contemporaneous articles (March 15–16, 1901) report a run precipitated by a rumor about the bank's solvency. Trustees posted a statement of condition and applicants were paid promptly. No suspension, receivership, or permanent closure is mentioned.
Events (1)
1.
March 15, 1901
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- A rumor spread that the bank was insolvent, reportedly triggered by the bank offering some held shares for sale (interpreted as needing cash).
- Measures
- Trustees posted a statement of the bank's financial condition in the windows; applicants were paid promptly.
- Newspaper Excerpt
- The run was precipitated by a rumor concerning the solvency of the institution
- Source
- newspapers
Newspaper Articles (10)
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RUN ON SAVINGS BANK. Natick, Mass., March 15.-A run on the Natick Five Cents Saving Bank is in progress, large numbers of depositors from Natick, Framingham and Saxonville having drawn out their money. The run was precipitated by a rumor concerning the solvency of the institution which has as ets of $2,188,688 and is regarded as one of the strongest banks in New England.
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BIG SAVINGS BANK EXPERIENCING A RUN Natick, Mass., March 15.-A run on the Natick 5 cents saving bank is in progress, large numbers of depositors having drawn out their money. The run was precipitated by a rumor concerning the solvency of the institution, which has assets of $2,190,000, and is regarded as one of the strongest banks in Ne N England.
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Run on a Savings Bank. Natick, Mass., March 15.-A run on the Natick Five Cents Savings bank is in progress, large. numbers of depositors from Natick, Framingham and Saxonville having drawn out their money. The run was precipitated by a rumor concerning the solvency of the institution, which has assets of $2,183,688, and is regarded as one of the strongest banks in New England.
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Rumor Started a Run on the Bank. NATICK, Mass., March 16.-A ran on the Natic Five-cent Savings Bank is in progress, a large number of depositors from Natick, Framington and Saxonville having drawn out their money. The run was precipitated by a rumor concerning the solvency of the institution, which has assets of $2,188,688, and is regarded as one of the strongest banks in New England.
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Hay extending the British West Indian reciprocity treaties one year. First Hawaiian CadetBERKELEY, Cal., March 15.-John Enoch Pond, student of Berkeley High School, has been appointed the first naval cadet from the Hawaiian Islands. Cloverport's LossCLOVERPORT, Ky., March 15.-Seventy-one buildings were destroyed in the fire here yesterday. The losses reach $400,000; insurance, $128,000. Run on a BankNATICK, Mass., March 15.-A run on the Natick Five Cents Savings Bank is in progress. The institution is one of the strongest in New England. Held to CourtHARRISBURG, Pa., March 15.-Watson Keiper and Henry Rowe, murderers of Cashier Charles W. Ryan, of the Halifax National Bank, were held for court. Died of His WoundST. PETERSBURG, March 15.-M. Bogoliepoff, minister of public instruction, who was shot by Peter Karpovich, formerly a student, died to-day of his wound. Differences of OpinionBERLIN, March 15.-Count von Buelow to-day admitted that differences had arisen between the powers in Chinese affairs, but he hoped they would be overcome. More Soldiers Going vatSAN FRANCISCO, March 15.-The Indiana sailed to-day for Manila with 500 men. To-morrow the Meade sails with cavalry. On Monday the Pennsylvania is to sail. Would Say NothingPITTSBURG, Pa., March 15.-C. M. Schwab, president of the U. S. Steel Corporation, arrived in town to-day from New York. He would say absolutely nothing. Fought in the SenateOLYMPIA, Wash., March 15.-Representative Easterday and Senator Ruth came to blows on the floor of the Senate over the libel laws. The wildest excitement prevailed. Misunderstood OrdersCLAY SWITCH, Ky., March 15.-In a collision between freight trains on the Illinois Central three men were killed and three fatally injured. Misunderstanding of orders. Did NothingHAZLETON, Pa., March 15.-The United Mine Workers' convention was not in session half an hour this morning, in the absence of a report from the scale committee. Germany's PopulationBERLIN, March 15.-The population of Germany is now about 56,000,000, larger than that of any country in Europe except Russia, which has in Europe over 100,000,000 subjects. The Report DeniedMASSILLON, Ohio, March 15.-C. C. Miller, of this city, national protector of the Order of United American Mechanics, denies the general report that the society is on the point of suspending. Fire in a HotelWASHINGTON, March 15.-At 3:53 a. m. electric light wires started a fire in the Merchants' Hotel. Several jumped from the windows. L. F. Henry, 48 years old, was suffocated. Several were injured. Controls Ninety Per CentTOLEDO, Ohio, March 15.-The Toledo Bridge Works to-day passed into the hands of the American Bridge Company. Price, $750,000. The American controls 90 per cent. of the plants in the country. A Philippine JudgeNEW ORLEANS, March 15.-It is announced that Lamar C. Quintero, a member of the local bar and attache of the Picayune, has been appointed to the supreme bench of the Philippines. Salary, $7,000. No Change in WagesPITTSBURG, Pa., March 15.-The bimonthly settlement of the sheetmill workers' scale was completed to-day. The basic price was found inside the limit. Wages will remain the same for two months. Condition of TreasuryWASHINGTON, March 15.-To-day's statement of the treasury balances in the general fund, exclusive of the $150,000,000 gold reserve in the division of redemption,
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RUN ON BANK NOT ENDED. Trustees Post Notices Which Tend to Decrease the Excitement. Natick, Mass., March 16.-The depositors of the Natick Five Cent Savings bank continued their run upon that institution today and the line-up in front of the door began as early as 8:30. By 10 o'clock there were nearly 70 people who were waiting to draw their money. In the windows of the institution, posted in conspicuous places, were cards giving the following statement and signed by the trustees: To the depositors of the Natick Five Cents Savings/bank. The trustees most earnestly desire to assure you of the ftnancial strength and stability of the bank, and hereby certify that the following is a correct statement of the condition of the bank on Thursday, March 14, 1901: Assets, loans and real estate $457,327; bonds, notes, etc., $193,875; real estate $33,030.13+ city, town and railroad bonds $375,000; bank stocks $67,800;cash on hand and in bank $73,347.81. Total $2,200,379.94. Liabilities: Deposits $2,032,287.19; surplus $168,092.75. This statement will remove all fears and explain why you should not withdraw your money. (Signed) by Trustees. At 10:30 the excitement had quieted down a little and the indications were that the run will be over before the bank closes for business this afternoon.
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RUN ON THE BANK. Natick, Mass, March 16.-The depositors of the Natick Five Cents savings bank to-day continued the run which was begun yesterday and the line up in front of the door began as early as 8:30. By 10 o'cleck there were nearly seventy people who were waiting to draw their money. In the windows of the institution cards giving a statement of the bank's condition, signed by the trustees had been posted. The cards showed assets of $2,200,379.94: deposits, $2,032,287.19; surplus, $168,092.75. At 10:30 the excitement had quieted down 2 little. All applicanta were paid promptly.
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Run on a Savings Bank. I (By the Associated Press.) Natick, Mass., March 15.-A run on the Natick Five Cents Saving Bank is in progress, large numbers of depositors having drawn out their money. The run was precipitated by a rumor concerning the solvency of the institution which has assets of $2,188,688 and regarded as one of the strongest banks in New England.
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Run on Massachusetts Bank. A run on the Natick (Mass.) Five Cents Savings bank started Friday and a large number of depositors from Natick, Farmingham, and Saxonville appeared at the bank's doors to draw out their money, a rumor having gained currency that the institution was insolvent. The bank has assets of $2,188,688.24 and is regarded as one of the strongest banks in New England. The rumor arose through offering for sale of some of the bank's shares. According to an officer of the institution, the bank has been desirous of disposing of several shares which it had held for investment. From this, it appears, a report spread that the bank was in need of cash and was offering shares to obtain it. The bank is entirely solvent.