Bank of Washtenaw - Ann Arbor, MI

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: March 24, 1836
Location: Ann Arbor, Michigan (42.271, -83.726)

Metadata

Model: gpt-5-mini
Short Digest: 3b7a1f74

Response Measures

Full suspension

Other: Directors solicited immediate payments from note holders and offered to refund interest on notes not due; announced sufficient available means ($30,000) and intent to resume payment soon.

Description

Article (dated March 24, 1836) states an unexpected and continued run caused by unfounded rumors forced the bank to suspend payment for a short time; directors say the bank has ample funds and will soon resume payment. No specific misinformation incident is described (just unfounded rumors).

Events (3)

1. March 24, 1836 Run

Cause: Rumor Or Misinformation
Cause Details: Unfounded rumors triggered an unexpected and continued run on the bank.
Measures: None listed beyond suspension of payments (see suspension event).
Newspaper Excerpt: An unexpected and continued run upon this bank, caused by unfounded rumors,
Source: newspapers

2. March 24, 1836 Suspension

Cause: Rumor Or Misinformation
Cause Details: Directors suspended payments temporarily because the run was caused by unfounded rumors.
Newspaper Excerpt: having made it necessary to suspend payment for a short time,
Source: newspapers

3. * Reopening

Newspaper Excerpt: the directors ... will soon resume payment.
Source: newspapers

Newspaper Articles (1)

1. April 22, 1836 Carroll Free Press Carrollton, OH

Article from Carroll Free Press, April 22, 1836

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Article Text

"MONEY MATTERS." The bank of Washtenaw, (Michigan), has issued the following notice-Bank of Washtenaw, Ann Arbor, March 24, 1836. An unexpected and continued run upon this bank, caused by unfounded rumors, having made it necessary 10 suspend payment for a short lime, the directors consider it a duty to caution the holders of Washtenaw notes against making any sacrifices upon them, as the bank has available means to the amount of $30,000, beyond its circulation, and will SOOO resume pay ment. Persons having notes in the bank are req ested 10 pay immediate. ly, and interest will be refunded on the notes not due. By order of the board of directors. DAVID PAGE. pre ident. E. W. MORGAN, cashier.