gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
49807b4955bda0c3
Response Measures
None
Events (1)
1.December 14, 1906Run
Cause
Rumor Or Misinformation
Cause Details
Rumors that the bank had changed hands, that the semi-annual dividend was passed, and that the company was about to fail.
Measures
Officials issued statements assuring depositors; paid large accounts in New York drafts and smaller ones in currency; a major stockholder brought a surplus; state examiner investigated and found affairs sound.
Newspaper Excerpt
A run of some proportions on the Columbia Trust company, began to-day and continued this afternoon.
RUN ON MIDDLETOWN BANK. President Says Every Depositor Will Be Paid. Middletown. Dec 14.-A run of some proportions on the Columbia Trust company, began to-day and continued this afternoon. President Burr issued a statement that the company would pay all depositors in full with interest due them and there was no danger of a suspension of business. The cause of the run was due to reports that the bank had changed hands and the annual dividend had not been declared in October, but had been passed. In regard to these matters President Burr said that the divident was passed for business rea. sons and that New York parties had obtained control of thes tock and were about to increase the capital stock.
2.December 14, 1906The News-DemocratProvidence, RI
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Article Text
RUN ON BANK AT MIDDLETOWN, CT STARTED TODAY Middleton, Conn., Dec. 14.-A run of considerable proportions on the Columbia Trust company, which under its charter does both a national and savings department business, began today. President Fugene H. Burr issued a statement at noon to the effect that the company would pay all depositors in full and with interest due them. and that there was no danger of interruption of business. The cause of the run so far as can be learned, is due to reports that the bank had changed hands. In regard to this President Burr say that the October semi-annual dividend was passed for business seasons and that considerable of the stock had gone to New York parties, who intended to increase the capital. The run today is entirely against the savings department and those asking for their money are mostly women.
3.December 15, 1906The Montgomery AdvertiserMontgomery, AL
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Article Text
Run on Connecticut Bank. Middletown, Conn., Dec. 14.-A run of considerable proportions on the savings departments of the Columbia Trust Company began today. President Eugene H. Burr issued a statement that all depositors would be paid in full. The run, so far, as can be learned, is due to reports that the bank had changed hands.
RUN ON BANK CONTINUES. Depositors Probably Making a Foolish Mistake. Middletown, Dec 15.-The heavy run on the Columbia Trust company, which begun yesterday, continued unabated to-day, a long line forming at the company's building previous to the opening of the doors at 10 o'clock. Despite the fact that officials issued a statement to the effect that the company was absolutely sound and that there was not a word of truth in the rumors circulated regarding the company's financial condition. hundreds of depositors withdrew their savings to-day, the large depositors being paid in New York drafts and the smaller ones in currency, mostly gold. As each holder of a large account appeared at the window an explanation as to the company's stability was made, with the statement that If the explanation was not satisfactory their money would be turned over to them without delay. Many customers of the trust company appeared to be absolutely satisfied with the explanation and left their money with the Institution while others withdrew theirs. Several Wesleyan students were in the line to-day. Bank Examiner Noble made an investigation into the company's affairs a few days ago and announces that he found the company in excellent shape. It is stated that $38,000 was withdrawn from the institution yesterday and to meet any further extensive withdraw. C. T. Marsh of New York. a heavy stockholder in the company. came here to-day with a large surplus. In the last report of the state banking commission the following figures are given relative to the trust company: Assets. $469.543.86: Individual profits, $15,325.21: general deposits, $201.121.23; savings bank deposits, $203,097.42. The capital stock is $50,000 and there is a surplus of $14,000.
5.December 15, 1906The Daily Morning Journal and CourierNew Haven, CT
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Article Text
RUN ON MIDDLETOWN BANK. Institution Crowded With Anxious Depositors. Middletown, Dec. 14.-There was a run on the Columbia Trust company, of this city, to-day. No one could account for the rumor which started in questioning the bank's solvency, but it spread like wildfire, and yesterday afternoon a large number of depositors withdrew their accounts. This morning the bank was crowded all the morning with anxious depositors. The bank officers posted notice that they would pay all accounts in full, and they have been doing so as fast as possible. There are about seventeen hundred depositors, and the bank has about $350,000 in the savings department.
6.December 15, 1906The News-DemocratProvidence, RI
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Article Text
RUN ON COLUMBIA TRUST CO. CONTINUES Middletown, Conn., Dec. 15.-The heavy run on the Columbia Trust company which began yesterday continued today. a long line forming at the company's building previous to the opening of its doors at 10 o'clock. Bank Exaimner Noble made an investigation into the company's affairs. a few days ago and announced that he found the company in excellent shape. It is stated that $38,000 was withdrawn from the Institution yesterday and to meet any further extensive withdrawal, C. T. Marsh, a heavy stockholder in the company, came here today with a large surplus.
7.December 16, 1906New-York TribuneNew York, NY
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Article Text
MIDDLETOWN BANK RUN CONTINUES. Middletown, Conn., Dec. 15.-The heavy run on the Columbia Trust Company, which began yesterday, continued to-day. Despite the statement issued by the officials that the company was absolutely sound, hundreds of depositors withdrew their savings to-day. Bank Examiner Noble made an investigation into the company's affairs a few days ago and announced that he found them in excellent shape. It is stated that $30,000 was withdrawn yesterday, and that to meet any further withdrawals C. T. Marsh of New York. a heavy stockholder, came here today with a large surplus.
Run on Columbia Trust Company. MIDDLETOWN, Conn., Dec. 18. The run of three days on the Columbia Trust company has come to an end, only a few depositors withdrawing their money, while a large number of depositors returned money. Rumors that the company was about to fail started the run.
9.December 21, 1906The United OpinionBradford, VT
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Article Text
End of Run on Bank Middletown, Conn., Dec. 18.-The run of three days on the Columbia Trust company came to an end yesterday. only a few depositors withdraw ing their money, while a large number of deposits were recorded. Rumors that the company was about to fail started the run.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
