Dime Savings Bank (Detroit, MI)

Episode Information

Episode UID
9002171226
Episode Type
Run Only
Bank Type
savings
Bank ID
900217 routing
Routing Number
9-0021
Start Date
February 24, 1902
Location
Detroit, Michigan (42.331, -83.046)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
63177301284530d6

Response Measures

None

Events (3)
1. February 24, 1902 Run
Cause
Rumor Or Misinformation
Cause Details
Groundless rumors: misreading of a holiday closure sign and reports the bank held F. C. Andrews' paper.
Random Run
Yes
Random Run Snippet
Polish depositor misread holiday sign; false rumor bank closed.
Measures
Paid depositors as accounts were checked; held bank open late (until 6pm or midnight) and promised to reopen next morning to pay in full.
Newspaper Excerpt
A run was started in the Jefferson avenue branch of the Dime Savings bank about noon to-day and two hours later it spread to the bank itself.
Source
newspapers
2. February 25, 1902 Run
Cause
Rumor Or Misinformation
Cause Details
Continuation/spread of initial groundless rumors about the bank's status and holdings.
Measures
Accounts paid promptly; bank remained open and paid depositors during the day.
Newspaper Excerpt
The run on the Dime Savings bank was resumed when the bank opened for business today, but the line of waiting depositors gradually dwindled down during the morning.
Source
newspapers
3. February 26, 1902 Other
Newspaper Excerpt
Run Ends on the Detroit Bank. ... the line of waiting depositors gradually dwindled down during the morning, and was broken at 2 p. m..
Source
newspapers

Newspaper Articles (9)
1. February 25, 1902 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, February 25, 1902

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Article Text

Detroit, Mich., Feb. 24.-A run was started in the Jefferson avenue branch of the Dime Savings bank about noon to-day and two hours later it spread to the bank itself. Depositors were paid as fast as the accounts could be checked up and the currency could be counted out. At the regular hour for closing the bank was besieged with anxious depositors and instead of closing the directors decided to hold open until 6 o'clock. This was done. President Livingston then addressed the depositors from the steps of the bank and said that while the bank would now close it would open at 9 o'clock to-morrow morning, and every depositor would be paid in full. It is impossible to learn what was the direct cause of the run. Help was offered by the other local banks. It was declined, however, the Dime Savings bank having plenty of funds in its own vaults. To-night President Livingston said: "I expect that the run will be resumed to-morrow, but I hope that we can break it by to-morrow night. None of our commercial accounts has been withdrawn, the nervousness being confined entirely to the savings depositors."

2. February 25, 1902 Ottumwa Semi-Weekly Courier Ottumwa, IA
Article from Ottumwa Semi-Weekly Courier, February 25, 1902

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Article Text

tion. RUN ON A BANI Detroit Institution Is Menaced - Depositors Want Money. Detroit, Feb. 24.--A run was started today on the Dime Savings bank, as the report became circulated that the institution held considerable of F. C. Andrews' paper and the run started on the strength of this. Depositors are being paid as fast as possible. President Livingston says the bank will be held open until midnight if necessary in order to pay all depositors who wish to withdraw their accounts.

3. February 25, 1902 The Age-Herald Birmingham, AL
Article from The Age-Herald, February 25, 1902

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Article Text

DETROIT BANK STANDS THE RUN Its Depositors Become Alarmed and Want Their Money ALL ACCOUNTS ARE PAID Fright Started From Rumor That the Bank Had Suspended Because Doors Were Closed On Washington's Birthday-No Help Needed. Detroit, Mich., February 24.-A run was started on the Jefferson Avenue branch of the Dime Savings Bank about noon today and soon after 2 o'clock it spread to the bank itself, at the corner of Griswold and Fort streets. Depositors were paid as fast as the accounts could be looked up and the currency could be counted out. At 3 o'clock, the regular hour for closing the bank, it was crowded with anxious depositors, and the line of people who wanted to close their accounts extended through the door and some distance down Fort street. Instead of closing the bank the directors decided to hold open until 6 o'clock. The receiving teller and his assistant dropped their usual work and assisted in paying the depositors. Until 6 o'clock accounts were closed as rapidly as possible. At that hour the line of people waiting for admission to the bank extended down Fort street for almost a block. President Livingston addressed them from the steps of the bank and said that while the bank would now close it would open at 9 o'clock tomorrow and every depositor would be paid in full. It is impossible to learn the direct cause of the run. It is said that a Polish depositor at the Jefferson avenue branch saw a sign on the door Saturday announcing that the bank was closed because of its being Washington's birthday and a legal holiday. He is said to have spread the report that the bank had closed and thereby frightened the depositors at the branch. The news of the run there gradually spread downtown and started the run on the bank itself. Help was immediately offered by the local banks. It was declined, however, the Dime Bank having plenty of funds in their own vaults. Tonight President Livingston said to the Associated Press: "I expect that the run will be resumed tomorrow, but I hope that we can break it by tomorrow night. We have ample funds on hand, and if necessary could have sufficient money in the bank in 48 hours to pay every depositor in full. None of our commercial accounts have been withdrawn, the nervousness being confined entirely to the savings depositors."

4. February 25, 1902 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, February 25, 1902

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Article Text

GOT THEIR MONEY. Line of Anxious Depositors Dwindle Down at Detroit, Detroit, Mich., Feb. 25.-The run on the Dime Savings bank was resumed when the bank opened for business today, but the line of waiting depositors gradually dwindled down during the morning. The bank officials said they expected the run would be broken by 2 o'clock. Accounts were paid as fast as possible. There was no resumption today of the run at the Jefferson avenue branch where the run started yesterday. The commercial deposits of the bank have not been affected by the run which was entirely confined to savings depositors. The nervousness has not communicated to the depositors of any of the other local banks.

5. February 25, 1902 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, February 25, 1902

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Article Text

RUN ON DETROIT BANK IT WAS STARTED ABOUT NOON YESTERDAY. Jefferson Avenue Branch of Dime Savings Bank Will Pay Depositors in Full-Kept Open Until 6 O'clock. Detroit, Mich., Feb. 24.-A run was started on the Jefferson Avenue branch of the Dime Savings Bank about noon today, and soon after 2 o'elock it spread to the bank itself, at the corner of Griswold and Fort Streets. Depositors were paid as fast as the account could be closed up and the currency could be counted out. At 3 o'clock the regular hour for closing the bank, it was crowded with anxious depositors and the line of people who wanted to close their accounts extended through the door and some distance down Fort Street. Instead of clesing the bank, the directors decided to hold open until 6 o'clock. The receiving teller and his assistant dropped their usual work and assisted in paying the depositors. Until 6 o'clock accounts were closed as rapidly as possible. At that hour the line of people waiting for admission to the bank extended down Fort Street for almost a block. President Livingston addressed them from the steps of the bank and said that while the bank would now close, it would open at 9 o'clock tomorrow and every depositor would be paid in full. It is impossible to learn what was the direct cause of the run. It is said that a Polish depositor at the Jefferson Avenue branch saw a sign on, the door Saturday announcing that the bank was closed because of its being Washington's birthday and a legal holiday. He is said to have spread the report that the bank had closed, and thereby frightened the depositors at the branch. The news of the run there gradually spread down town and started the run on the bank itself. Help was immediately offered by the 10cal banks. It was declined, however, the dime bank having plenty of funds In their own vaults. Tonight President Livingston said to the Associated Press: "I expect that the run will be resumed tomorrow, but I hope that we can break it by tomorrow night. We have ample funds on hand; and if necessary could have sufficient money in the bank in forty-eight hours to pay every depositor In full. None of our commercial accounts have been withdrawn, the nervousness being confined entirely to the savings depositors."

6. February 26, 1902 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, February 26, 1902

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Article Text

Run Ends on the Detroit Bank. Detroit. Feb. 26.-The run on the Dime Savings bank was resumed when the bank opened for business, but the line of waiting depositors gradually dwindled down during the morning, and was broken at 2 p. m. There was no resumption of the run at the Jefferson Avenue branch,

7. February 27, 1902 Warren Sheaf Warren, MN
Article from Warren Sheaf, February 27, 1902

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Article Text

RUN ON DETROIT BANK. Depositors in Dime Savings Bank Anxious to Withdraw Their Deposits. Detroit, Mich., Feb. 25.-A run was started Monday on the Dime savings bank, of this city. A report became circulated in the vicinity of the bank's Jefferson branch, that the institution held considerable of F. C. Andrews' paper, and the run started on the strength of this. Depositors are being paid as fast as possible, and President Livingstone says the bank will be held open until midnight if necessary in order to pay all depositors who wish to withdraw their accounts.

8. March 3, 1902 Vilas County News Eagle River, WI
Article from Vilas County News, March 3, 1902

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DOMESTIC. Secretary Long will resign this year. Justice Gray suffered a stroke of paralysis. Leo XIII. began his twenty-fifth year as pope. Paul Kruger, of Chicago, whose stomach was removed last April, is dead. Alaska Indians buried alive a boy who had been converted to Christianity. Josie Grimley, 16 and pretty, left her Jersey City home to become an actress. Theodore Roosevelt Jr. arrived in Washington from Groton, Mass., much improved. Miss Beatrice Goelet, of New York, although under 17, left an estate exceeding $1,000,000. Three trainmen were killed in a Northwestern freight collision near Summit Lake, Wis. The trustees of Wooster university raised $140,000 and thereby secured a $100,000 Carnegie gift. Justice Cochrane, in the New York supreme court, held it is no slander to say a man cheats at cards. A run on the Dime Savings bank at Detroit was caused by a groundless rumor that it had failed. The United States Brewers' association will hold its annual meeting in Saratoga June 10, 11 and 12. At Crystal Falls, Mich., the jury in the Bennett manslaughter case brought in a verdict of acquittal. Dave Sullivan knocked out by Terry McGovern at Louisville after fifteen rounds of plucky fighting. The British naval estimates for the present year provide for an expenditure of $75,000,000 for new warships. Clyde Blair, a Chicago university freshman, set a new world's record of four seconds in the thirty-five yard dash. The Iowa senate passed a bill debarring murderers from inheriting the property of relatives killed by them. Rollin Houdyshell of Ottumwa, Iowa, is dead as the result of a gunshot wound received in a lodging-house. Marconi says messages can now be sent secretly by his system. He will soon attempt to send words across the ocean. Richard Gilliam of Mount Vernon, Ill., was waylaid by three boys and killed while on his way home from church. Sixty-four were killed and wounded in a battle between Turkish troops and Albanians on the Montenegrin frontier. In New York Judge Foster ignored the "unwritten law" and sentenced a woman acid-thrower to the penitentiary. Miss Alice, daughter of Levi P. Morton, was married to Winthrop Rutherfurd, Peter Stuyvesant's descendant. Senator Mason will try to secure a favorable report on a bill providing for letter carriers in towns of 5,000 population. The vicinity of Joplin, Mo., experienced the heaviest snow storm in years. Over six inches of snow fell in 12 hours. Maxwell of Englewood high school made new state interscholastic record of 44 feet 7½ inches with a twelve-pound shot. Squads of minute men have been ordered to Wetumka, Oklahoma, to protect the town from the crazy Snake Indians. H. H. Matheson, cashier of a Great Falls (Mont.) bank, who confessed to embezzling $75,000, seems to have taken $178,000. Five students of Wabash college were arrested for rioting. Cayenne pepper was thrown in the eyes of freshmen in a class fight. E. H. Kirkham, aged 70 years, proprietor of a general store in Coal-gate, I. T., and wealthy, committed suicide in Kansas City, Mo. The situation in Barcelona riots is far from assuring to the government and the work of Don Carlos and of the anarchists is suspected. Paris is enthusiastically celebrating the Victor Hugo centennial by publishing every possible scrap of information about the great author. A dozen students of Princetin uni-

9. March 6, 1902 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, March 6, 1902

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CO.SC a ple on the question of woman suffrage. Congressman Landis, as the result of a canvass of the house, declared the star route rural delivery plan is beaten. The president appointed Frank L. Shepard of Illinois assistant surgeon in the army. with rank of first lieutenant. A railroad fireman at Plato, Minn. overpowered a bank cashier and robbed the bank of $1,500. but was soon caught. At Clinton, Iowa, Mayor G D. McDonald demanded the star of Chiet ot Police James Cole for nelecting to enforce orders. A run on the Dime Savings bank of Detroit was caused by the report that it held a number of Frank C. Andrews' notes. At Wimbledon, N. D., Edwin H. Zeige, a young drug clerk. committed suicide by shooting himself through the head. The American collector of Sitka expelled Canadian customs officers from Skaguay for interfering with American officials. Captain Streeter, Billy McManners, William Force, and Henry Hoeldtke were indicted for the murder of John S. Kirk in Chicago. Senator Lodge has introduced a bill creating the bureaus of drainage, II'rigation and highways in the department of agriculture. In New York Adolph Meyer is suing G. Waldo Smith. Jr. for $50,000 damages, charging that young Smith eloped with his wife. Alderman James T. Ferriter died in Richmond, Va. He was a confederate soldier and lost a leg at the battle of Gettysburg. York a a Muessman, A New 7-year-old jury awarded boy, Vincent verdict infor $30,000 damages for injuries flicted by a street car. A church is being organized in Lewes, Del., that is to have no salaried pastor and in which instrumental music will not be allowed. The family of Alex. Rosenthal of 405 East Fifty-seventh street, New York, was chloroformed by burglars, who stole $2,000 worth of jewelry Seven trainmen were killed and two seriously hurt in a collision on the Auburn division of the New York Central near Aurelius, N. Y. Charles Woodward, convicted of the brutal murder of Sheriff Ricker of Natrona county. Wyo., has been sentenced to hang March 28. Stewart Fife was arraigned at Savannah, Mo., charged with the murder of Frank W. Richardson, a wealthy merchant, on Christmas eve, 1900. A subcommittee of the senate committee on Elections decided against the expulsion of the South Carolina but they are to be censured. was named for Guarantee and Trust company senators, A receiver the of $1,000. of Surety Chicago with an alleged capital 000. The assets amounting to $1,000 found. The postmaster general has issued a general order announcing the increase in pay of the rural free delivery mail carriers $100 each per annum. Woodford Hughes of Jacksonville, was warned to by returned and was Ill. vigilantes, who leave the house killed place of by a mob while asleep in the a friend. District Attorney Jerome of New York says the Park Avenue Hotel elevator shafts were fire traps, being lined with yellow pine, which burned like tinder. Henry A. Taylor, the Connecticut millionaire who furnished the money was convicted of conspiracy to bribe Grand Rapids officials in the waterworks case. Republican members of the house held a caucus on Cuban affairs, but after a session of three hours were unable to agree on the question of tariff concession. The Omaha and Milwaukee roads for the first time have been obliged to come into the Duluth market for ties. The tie industry has assumed large proportions. The populists of Kansas have de cided in convention not to affiliate with the democrat forces this year, though a strong faction favored going into the democrat party. At Spikard. Mo., A. E. Batson has been arrested on the charge of having murdered five members of the Earl family near Welch. La. Batson was Earl's farm hand. Lawyer John K. Erskine, Jr., named his wife's hired man. Thomas Ward, whom she made "master of cere monies," as co-respondent in his divorce suit in New York. While River Brethren were holding a prayer meeting at Simon Shumber a ger's house. in Harrisburg, Pa., physician discovered that a child in the room had smallpox. At Omaha. C. A. Salter has been elected to succeed John Redeli as chief of the fire department. Salter has been acting chief since Redell's suspension some months ago. Amelia Fisher. a Hungarian sershot Georgieanna. the 5daughter of W. J. at want year-old girl. inflicted Simons, probCaryl. N. Y.. and then ably fatal wounds on herself.