gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e5adfcd56fd6d0ae
Response Measures
Accommodated withdrawals, Public signal of financial health, Books examined
Events (2)
1.April 8, 1909Chartered
Source
historical_nic
2.November 15, 1926Run
Cause
Local Banks
Cause Details
Uneasiness and depositor alarm triggered by recent closings of the Federal Trust Co. and the Terminal Trust Co. in Kansas City.
Measures
Governor W. J. Bailey of the Federal Reserve reassured depositors publicly; armored truck delivered specie and tellers paid depositors promptly.
Newspaper Excerpt
A run on the Park National Bank here today was turned into a public reception ... 'The Federal Reserve Bank guarantees that depositors in this bank will not lose one cent.'
Source
newspapers
Newspaper Articles (11)
1.November 15, 1926St. Louis Post-DispatchSt. Louis, MO
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Article Text
ANOTHER KANSAS CITY BANK IS CLOSED
Cashier Is Brother of President of Concern That Closed Last Friday.
Special JEFFERSON Nov. The State Finance Department received word today of the closing of the Waldo State Bank of Kansas City. It is the forty-ninth state bank to be closed in Missouri this year. The Waldo State bank had $125,000 of State funds on deposit, but the State Treasurer said today that he was protected by bonds of $112,000 and $14,500 of real estate securities. The cashier of the bank closed today is J. G. Laughlin, brother of P. E. Laughlin, president of the Federal Trust Co. of Kansas City, which was closed Friday. Finance Department officials said there connection in the operations of the Waldo and Federal companies. The Waldo bank had deposits of $529,429, loans of $379.368, total resources of $647,693 and a capital of $100,000. The closing today was announced as action taken by the board of directors. Finance Department examiners had been making an inspection of the Federal Trust. the Kansas City Terminal Trust Co., which was closed Saturday, and the Waldo bank before the closings were announced. State Bank at Thayer. Kan., Closes; Deposits $165,000. Special TOPEKA Kan., Nov. The Thayer State Bank was closed today by order of the board of directors. This is the only Kansas bank thus far affected by the closing of the Federal Trust Co. of Kansas City. Mo. The Thayer bank had the larger part of its reserves tied up in the Federal Trust and it also had purchased a large amount of Federal paper. These two conditions brought about the et sing of the bank today. The bank had a capital of $10,000 and a surplus of $5000. There were deposits of $165,000 and loans of $129,000.
Run on Kansas City Bank Turned Into Public Reception.
KANSAS CITY Nov. A "run" on the Park National Bank here today was turned into a public reception with flowers and smiles. The Park National. a neighborbood bank. opened and found 200 depositors lined up to get their money. Every one was paid and then at one end of the room a man stood on a chair "I anf W. J. Bailey.' he said. "I am governor of the Federal Reserve Bank. This bank is a member of the Federal Reserve system. The Federal Reserve Bank guarantees that depositors in this bank will not lose one cent." The assembled depositors cheered and Bailey shouted: "There are 200 million dollars behind that guarantee. Balley said officials and examiners of the Federal Reserve Bank had gone over the Park National Bank's 'paper' yesterday and found the bank to be as good shape as any bank in Kansas City."
2.November 15, 1926Springfield Leader and PressSpringfield, MO
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"RUN" ON BANK TURNS INTO A RECEPTION
KANSAS Nov the Park National bank turned into public Park opened and 200 ors lined up money Every and then at the end the room man stood on am W Balley he am Federal Reserve the Federal The Reserve that deposit. Federal ors in this not one assembled depositors cheered 200 million dollars guarantee Balley officials Reserve bank tional and found the good bank Officials "run" started the result which circulated close Federal company and the Terminal Trust company
3.November 15, 1926St. Joseph News-PressSt. Joseph, MO
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HALTED "RUN" ON BANK.
Governor Kansas City Federal Re. serve Patrons of the Park National.
KANSAS CITY, Mo., Nov. the Bank today was public reception The Park neighborhood 200 depositors get their was paid and then one of the man am Balley,' he am the Federal Bank. This of the federal The Reserve that the in this will not lose The cheered and Mr. "There are $200,000,000 behind that Governor Balley officials and examiners the Federal Bank had gone over Park National Bank's "paper" yesterday found the be good shape as any bank Kansas City Officials said the started as the result which Saturday following Fed. eral Trust Company the Terminal Trust Company.
4.November 15, 1926The Sedalia DemocratSedalia, MO
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ON BANK ENDS WITH
The Associated Press. KANSAS CITY, Mo., Nov. the Park National Bank today turned into pub lic reception with flowers and smiles. The Park National, neighborhood bank, opened and found depositors lined up to get their money. paid and then one end the room chair. he said. governor the Federal Reserve Bank. This bank member Federal Reserve System. The Federal Reserve Bank guarantees that depositors this bank will not The assembled depositors cheered Mr. Bailey shouted: are million dollars that guarantee." Gov. Bailey said officials and aminers the Federal Reserve Bank had the Park Natgone and found the bank good shape bank in Kansas Officials the "run" started result which here Saturday following the close the Federal Trust Company the Terminal Trust Company.
5.November 16, 1926Evening StarWashington, DC
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TWO BANKS CLOSE; THIRD AVERTS RUN Kansas City Institutions Allied With Federal Trust Company Affected. By the Associated Press KANSAS CITY. November 16.--Two small banks. whose affairs were linked with the closed Federal Trust Co. here. closed yesterday and another small bank averted a run by depositors when cash reserves were called in and displayed. The Waldo State Bank. a suburban institution. and the Thayer State Bank of Thayer. Kans., were the two banks which closed. The Park National Bank. a neighborhood bank here. turned a run into A public reception when W. J. Bailey, governor of the Federal Reserve Bank of Kansas City. told about 200 depositors who had gathered that the bank was backed by the Federal reserve system and guaranteed them they would not lose "a cent. Reasons for Anxiety. Uneasiness which followed the closing of the Federal Trust Co. Friday and the Terminal Trust Co. here Saturday was blamed for the gathering of the depositors. The Waldo Bank's deposits at the time of its last statement were $536.281.31. The deposits in the Thayer bank were only $165.000. A large part of the reserves of the Thayer bank were deposited in the Federal Trust Co. The Waldo bank was a correspondent bank of the Federal Trust and J. G. Laughlin, secretary of the board of directors. was a brother of P. E. Laughlin, president of the Federal Trust Co. Both the Waldo State Bank and the Terminal Trust Co. had part of their cash reserves deposited in the downtown trust company. Officials of all the closed banks said they were sound and that they would be reorganized as soon as the affairs of the larger bank were adjusted.
6.November 16, 1926The St. Louis Star and TimesSt. Louis, MO
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FEDERAL RESERVE OFFICER PREVENTS RUN ON BANK
KANSAS CITY, MO., Nov. (By run the Park National Bank South Suburban was averted yesterday by W. Balley, Governor of the Tenth Federal Rehere line of depositors gathered. Bailey chair in front of the door told them the Federal Reserve System stood hind their deposits. Nearby business men declared they would not only refuse to withdraw their accounts but would deposit more. The crowd
Friendly Club to Meet. The Club will meet tonight the Barr Library, Jefferson and Lafayette avenues, at o'clock. The public is invited.
7.November 16, 1926Pittsburgh Post-GazettePittsburgh, PA
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'Run' on Kansas City Bank Becomes Public Reception, Pass Out Posies With Cash
KANSAS CITY. MO., Nov. (N. Y. Times. "run" on the Park National Bank almost became public reception today, with flowers smiles. who wanted his money it. but most of the 200 lepositors left to be Gov. W. Bailey of the Federal Bank mounted chair and told them bank was in unusually strong condition. At the opening hour. ap. proximately 200 depositors were milling around the door. Checks in already filled out, presumably for total bal Nicely timed. at exactly o'clock. an armored from the Federal Reserve Bank up in front of the door. A lane was formed to the bank door by squad of motorcycle patrolmen and stream of money poured into the Withal sight that took of the edge off the waiting of Checks that had been so freely displayed put out of sight, for the most part, but the held just the same. As as the had been safely stored the doors swung open. On either side stood pretty little girl. In their arms were of pink carnations. One was handed to each person entering. Cashiers and were at their places, great stacks of bills and gold piled behind the windows, all might see. They began paying checks as fast as avoiding any appearance of delay and smiling as they worked.
8.November 16, 1926Muskogee Daily Phoenix and Times-DemocratMuskogee, OK
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RUN ON BANK AVERTED BY DISTRICT GOVERNOR
Depositors Heed Plea of Federal Reserve Chief; Trace Rumor of Failure KANSAS Mo., Nov. threatened run the Park National bank, south side suburban institution, today by Bailey, governor of the tenth federal reserve district line of depositors had gathered at the bank and were intent upon deposits. Bailey, mounting chair in front of the door, told the crowd they had need fear loss; that the federal stood behind their deposits. nearby business men followed and declared they would not only refuse withdraw their counts but would deposit more. The crowd dispersed. Guards brought along sacks of rency and coin to pay Insisted upon withdrawing their money. Burns detectives were assigned to down the source of rumors that the bank was
RUN ON BANK STOPPED
City Star. "run" the Park National Bank, 4628 Troost almost public recepand who wanted his but the left, Balley Federal Reserve Bank mounted chair told the bank was unusually condition. the opening hour, approximatedepositors were milling nervously around the Checks were already filled out, presumably for total balNicely timed exactly o'clock, the sirens came the north. They down to front the to quick stop and formed circle around vehicle escorting. was armored truck from the Federal formed to the bank door and stream money out sacks bills, big sacks There were clinking middle sized sacks silver dollars, halves and Withal sight that took the edge that deposi put out sight for the most part, the line the safely stored the doors were swung open the pub-
On either side stood a pretty little girl. In their arms was handed to person entering.
Cashiers and tellers were their places, and the might They began paying checks any delay and smiling they worked. In end the stood on chair. He that all the street the and the lobby full the officers' were opened into the the the chair the Reserve Bank. member of the federal system.' Balley went the Federal officials the federal system had the Park and found that shape any bank in City. have marshaled per cent cash within 24 hours bank did," he not you for alarmed at the afloat, but your today you are Injuring and your city. you will not home about And he off the The from the few money being deposited was being drawn WHAT'S the
10.December 7, 1926Springfield Evening UnionSpringfield, MA
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Run on Bank Stopped by Flood of Specie on the Park National Bank, 4628 Troost Avenue, became almost public reception, with flowers wanted his money got but most the 200 Gov. Bailey the Federal Bank mounted them was in unusually strong condio'clock. the opening hour, apthe door. filled out for total balances. Nicely timed at exactly o'clock the motorcycle from They down the bank. came to and formed circle around vehicle they corting. was an armored truck from Federal Bank lane the bank door and of money the armored the bank. There bills, big large than could have tied up. There little sacks clinking gold, silWithal took siderable the that crowd of that had been freely displayed of sight for the most part, the line As as the had been doors public. stood pretty girl. In their arms great masses carnations. was handed to entering. Cashiers and tellers at their places, great and gold piled behind wicker windows, where all might They checks as fast presented. avoiding any appearance smiling as In one man chair. He asked street crowded bank and lobby was full ficers' spaces opened all could be into the room. Bailey, the man the the Federal This bank of the Reserve system. Gov. Bailey went on to say the Federal and for tem the yesterday found that bank to be good shape any bank in Kansas City banks marshaled 50 cent deposits hours as bank he continued. not blame for being alarmed at that been but by your actions today you injuring yourselves, community and your will not home busihe stepped off the chair amid applause. melted away the pay. ing windows and minutes money was deposited being drawn City Star.
Home, Sweet Home. Newlywed. estate salesto home: buy home? hospital ward, reared boarding school, educated college, and married church: get meals cafeteria, an apartment: spend my mornplaying golf. afternoons playbridge: the dance when sick the when die shall buried from an undertaker's. should buy house, need garage with bedroom.
Another Long Felt Want. Some genius should device person who alone in the house into the bath tub. will disconnect foorbells. Louisville Times.
11.March 9, 1933Mound City News-IndependentMound City, MO
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CITIZENS CALM DURING EMERGENCY
Exchange Bank Suspended Operations In Conformity Presidential Proclama- tion.
The Banks of Holt County suspended normal morning to conform Saturday with state wide holiday order a issued by Governor Guy Park. for Since that time President of Roosevelt has issued a proclamation all the banks closing the United States for a period ending Friday, March 10. The local banks have followregulations ordering them laid down by the secreclose, of the treasury. Some have tary remained open during regular hours for the purpose banking of making change. There is no cause for any alarm the local regarding tion as all the Holt County banks are believed to be in cellent condition. has been convened Congress special session beginning today (Thursday) and acnoon cording to radio reports have legislation conferring passed extraordinary to Presipowers dent Roosevelt, trol all banks until this emeris safely past. The spirit fortitude and patience with which the people this community and the tire has reacted to the country bank holiday, has emergency been surprising. individuals and busiMany houses found themselves ness with small amount of only hand when the currency on bank went into effect. holiday St. Business has been retarded to extent. Merchants some most cases have accepted checks for the exact amount but have been purchases tant to let loose of any currenor silver in change. Bank here The Exchange to be strong as known is anywhere, and bank there must be attributed its closing solely to the the nation. ditions throughout thing that Now the only to await the order to with patience banks after the the open and regulational adjustments formulated and tions have been issued.
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.
