Pontiac Commercial & Savings Bank

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: January 8, 1930
Location: Pontiac, Michigan (42.639, -83.291)

Metadata

Model: gpt-5-mini
Short Digest: 55373954

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

OCR errors in article corrected (e.g., 'suicide Cramer Smith' -> 'suicide of Cramer Smith, president'). Article (dated 1930-01-08) describes panicky depositors withdrawing after the president's suicide; bank officials said the bank was financially sound and had cash to pay depositors. No suspension or closure is mentioned.

Events (1)

1. January 8, 1930 Run

Cause: Bank Specific Adverse Info
Cause Details: Depositors panicked and withdrew funds following the suicide of the bank's president, Cramer Smith.
Measures: Bank officials and directors reassured public that the bank was financially sound and had cash to pay depositors; chairman stated deposits were protected.
Newspaper Excerpt: Scores of panicky depositors in the Pontiac Commercial & Savings bank were withdrawing ... sequel to the suicide Cramer Smith, president ... officials that the bank [was] financially sound. ... bank has cash to pay depositors.
Source: newspapers

Newspaper Articles (1)

1. January 8, 1930 The Charlotte Observer Charlotte, NC

Article from The Charlotte Observer, January 8, 1930

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Article Text

President's Suicide Caused Run Bank on PONTIAC June Scores of panicky depositors in the Pontiac Commercial & Savings bank were withdrawing their today us sequel to the no cide Cramer Smith, president institution When doors of the bank opened this the depositors crowded into and quickly departwith their ignoring officials that the bank financially sound. According Charles Merz, bank has cash to pay depositors stated the deposits of protected John Patterson chairman OI the directors acting that Smith's Saturday conwith bank's financial which he described Despite these anxious depositors continued through the bank's doors throughout the morning They and orderly and there little semblance the usual bank crowd.