8187. Muskegon Savings Bank (Muskegon, MI)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
October 6, 1903
Location
Muskegon, Michigan (43.234, -86.248)

Metadata

Model
gpt-5-mini
Short Digest
1615d8f7edac1e2a

Response Measures

None

Description

Multiple contemporaneous articles (Oct 6–7, 1903) report a small, short-lived run triggered by an erroneous outside report/rumor that several directors had resigned. The run ceased after assurances from the president and board; no suspension or receivership is reported.

Events (1)
1. October 6, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
Erroneous statement/rumor in an outside paper that four directors had resigned (also reports two directors had resigned leading to rumors of more).
Random Run
Yes
Random Run Snippet
Erroneous statement that four directors had resigned; run ceased after assurances
Measures
President and full board assured depositors there was plenty of money; a resigning director offered several thousand dollars; other banks offered assistance though not needed.
Newspaper Excerpt
There was a small run on the Muskegon Savings bank, owing to an erroneous statement in an outside paper last week that four directors had resigned.
Source
newspapers

Newspaper Articles (4)
1. October 7, 1903 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, October 7, 1903

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Article Text

Run on a Muskegon Bank. Muskegon, Mich., Oct. 7.-There was a small run on the Muskegon Savings bank, owing to an erroneous statement in an outside paper last week that four directors had resigned. The run was not very heavy and ceased on the assurance of the president and full board of directors that ther was plenty of money on hand to pay every depositor.

2. October 9, 1903 Alma Record Alma, MI
Article from Alma Record, October 9, 1903

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Article Text

A Run on the Bank. Muskegon, Mich., Oct. 6.-Because two of the directors of the Muskegon Savings bank resigned last week and of the rumor that four others had quit, there was a small run by depositors Monday afternoon. The reason given for the resignations is that the majority of the board insisted on keeping open Saturday evenings. Mr. MunΓoe, one of the directors who resigned, when he learned of the run came forward and offered the bank several thousand dollars, to be used if the call assumed larger proportions.

3. October 15, 1903 Belding Banner Belding, MI
Article from Belding Banner, October 15, 1903

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Article Text

Run Was Needless. Because two of the directors had resinned land had done 3+ likewise, there was a little run on the Muskegon Savings bank Monday. though the state bank examiner had just made a very flattering report on the institution's condition. The other banks offered to help out in the emergency, but no assistance was needed.

4. October 16, 1903 The Yale Expositor Yale, MI
Article from The Yale Expositor, October 16, 1903

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Article Text

Run Was Needless. Because two of the directors had resigned and It was rumored that four others had done likewise, there was a little run on the Muskegon Savings bank Monday, though the state bank examiner had Just made a very dattering report on the institution's condition, The other banks offered to help out in the emergency, but no assistance was needed.