Mercantile Bank - Baltimore, MD

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: December 9, 1925
Location: Baltimore, Maryland (39.290, -76.612)

Metadata

Model: gpt-5-mini
Short Digest: 32ea6328

Response Measures

None

Description

A threatened run occurred after arrest of a paying teller for alleged theft of $55,000; crowd gathered but was dispersed after a priest deposited funds. Bank did not suspend operations. Officials brought $200,000 from the subtreasury as a precaution but it was not needed.

Events (1)

1. December 9, 1925 Run

Cause: Bank Specific Adverse Info
Cause Details: Arrest and confession of a paying teller accused of stealing about $55,000, which alarmed depositors.
Measures: Bank officials brought $200,000 in cash from the subtreasury to the bank's vaults; public deposit by Rev. Pasquale di Paola ($850) to calm crowd.
Newspaper Excerpt: The Rev. Pasquale di Paola ... prevented a run on the Mercantile Bank here late yesterday, following the arrest of Lew Farrell, paying teller, on charges of the theft of $55,000 of the bank funds. ... He drew $850 from his pockets and deposited it. The crowd disappeared. ... officials of the institution brought $200,000 in cash from the subtreasury to the bank's vaults, but it was not needed.
Source: newspapers

Newspaper Articles (4)

1. December 9, 1925 Evening Star Washington, DC

Article from Evening Star, December 9, 1925

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Article Text

BANK RUN AVERTED BY CAPITAL PRIEST Rev. Di Paoia Calms Baltimore Crowd and Deposits Sum to Show Faith. Special Dispatch to The Star. BALTIMORE, December 9.-The Rev. Pasquale di Paola. pastor of St. Anthony's Church, Brookland, D. C.. prevented a run on the Mercantile Bank here late yesterday, following the arrest of Leu Farrell paying teller. on charges of the threft of $55,000 of the bank funds. Father di Paola appeared on the scene just as a large crowd was gathering in front of the building. He took in the situation and. climbing on a stool. addressed the crowd. For years. he told them. he had been a depositor and his contidence in the institution was unbounded. He drew $850 from his pockets and deposited it. The crowd disappeared. Fearful lest the news of the shortage at the bank would cause a run. officials of the institution brought $200,000 in cash from the subtreasury to the bank's vaults, but it was not needed. In tears Farrell told how for four years he had worked at the bank. his interest only in his work and with no thought of taking any of the money with which he was surround ed. Then. he said. he began betting on the races. Farrell told them. the detectives said, that he took the money from the cash drawers. He said when an inspection was being made at the bank he covered up his shortage on some occasions by removing deposit slips from their places in the bank vaults to an amount that would correspond with the amount of money he had taken from the cash drawers. He would hold on 10 the slips until the inspection was over.

2. December 17, 1925 Catholic Union and Times Buffalo, NY

Article from Catholic Union and Times, December 17, 1925

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Article Text

PRIEST STOPS RUN ON BANK IN BALTIMORE News Service.) Baltimore, Dec. threatenthe Mercantile Bank last week was averted by the Rev. Pasquale St. thony's Church, Brookland, D. An employe of the bank had arrested on involving the $55,000 of funds. Some the had become and crowd was gathering in front of the bank Father the scene. the crowd, telling that he had been that tegrity was At the conclusion his speech $850.00 from his pocket and deposited in the bank. After speech the crowd dispersed. Bank officials, fearing run when reports of the shortage in the employee's became known, had called in $200,000 in cash from the subtreasury, but the money was not The employee whose alleged misuse of funds brought on incident police, who say that he admitted taking money cash and covering up the shortage slips from the vaults during inspections.

3. December 18, 1925 The Messenger Belleville, IL

Article from The Messenger, December 18, 1925

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Article Text

PRIEST STOPS RUN ON BANK IN BALTIMORE News Service) Baltimore, Dec. threatened run the Mercantile Bank here Tuesday averted by the Rev. quale Di Paolo, pastor of St. Anthony's Church, Brookland An employe of the bank had been arrested charges the misof $55,000 of bank funds. Some of the depositors had become alarmed and crowd was front of the bank building when Father Paolo appeared on the scene. climbed onto stool the crowd, telling them that he been depositor the bank for many and that his confidence the years institution's integrity was unshaken.

4. December 18, 1925 Lake Shore Visitor Erie, PA

Article from Lake Shore Visitor, December 18, 1925

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Article Text

Priest Stops Run on Bank In BALTIMORE, Dec. threatened run on Mercantile Bank here was averted by the Rev. Tuesday Pasquale Di Paolo, pastor of St. Anthony's church, Brookland, An employe of the bank had been arrested involving the misof $55,000 of bank funds. Some of the depositors had become alarmed and crowd was gathering in front of the bank building when Father Di Paolo appeared on scence. He climbed onto stool addressed the crowd, telling them that he had been depositor in the bank for many years and that his confidence the integrity was unshaken. At the his speech drew $850.00 from his pocket and posited in the bank. After his speech the crowd dispersed. Bank officials, fearing run when reports of the shortage the employe's accounts became known, had called in $200,000 in cash from the but the money was not needed. The whose alleged misuse of funds brought on the incident has confessed, according to the police, who that he admitted taking money from cash drawers and ering up the shortage by removing posit slips from the vaults during spections.