Fidelity Trust Company (Buffalo, NY)

Episode Information

Episode UID
10002171222
Episode Type
Run Only
Bank Type
trust
Bank ID
1000217 routing
Routing Number
10-0021
Start Date
October 15, 1901
Location
Buffalo, New York (42.886, -78.878)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2b270bd0b940de24

Response Measures

None

Events (1)

1. October 15, 1901 Run
Cause
Rumor Or Misinformation
Cause Details
A groundless scare/rumors (panics about sums due from Pan-American contractors and other unfounded reports) prompted small depositors to withdraw funds.
Measures
Installed extra paying tellers, paid accounts promptly, other banks loaned it money; windows kept open until 4 o'clock.
Newspaper Excerpt
RUN ON THE BANK. Buffalo, Oct. 15-The run OR the Fidelity Trust company, which started yesterday without apparent reason, continued today and over 200 are in line withdrawing deposits.
Source
newspapers

Newspaper Articles (11)

Article from Daily Camera, October 15, 1901

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Article Text

RUN ON THE BANK. Buffalo, Oct. 15-The run OR the Fi delity Trust company, which started yes terday without apparent reason, con tinued today and over 200 are in line withdrawing deposits. The affairs of the bank are in good shape and other banks are loaning it money. All accounts are being paid off at once.


Article from Arizona Republican, October 15, 1901

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Article Text

A BUFFALO BANK Subjected to a Run by a Groundless Scare. Buffalo, Oct. 14.-A run on the Fidelity Trust company, a state banking institution began today. A long line of anxious depositors stood for hours waiting to withdraw their money. Extra paying tellers were installed and their windows were kept open until 4 o'clock. Prominent bankers and business men say the rumor which caused the run is groundless; that only small depositors are withdrawing their accounts. Several large deposits were made during the day by business houses of large sums of money sent to the Fidelity company's offices by local banks.


Article from The Providence News, October 15, 1901

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Article Text

RUN ON TRUST COMPANY. Buffalo, Oct. 15.-The run on the FidelIty Trust Co., continued this morning. When the doors were opened there were probably 200 people in line . They were given their money as fast as their accounts could be verified.


Article from Waterbury Democrat, October 15, 1901

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Article Text

THE RUN CONTINUES. Buffalo, Oct 15.-The run on the Fidelity Trust company continued this morning. When the doors were opened there were probably 200 people is line. They were given their money as fast as their accounts could be verified.


Article from The Sun, October 15, 1901

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Article Text

Run on a Buffalo Bank. Buffalo, Oct. 14.-A run was started on the Fidelity Trust company, a state banking institution, principally, it was said. by small depositors. At noon the run continued, but all checks were being promptly paid. President George F. Foreman said that the company "was never in a better condition than right now. We will pay dollar for dollar." Among other bankers confidence was expressed in the ability of the Fidelity to pay. The run was said to be due to rumors, which cannot be confirmed. that large sums due the bank from Pan-American contractors would not be forthcoming.


Article from The Topeka State Journal, October 15, 1901

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Article Text

All Got Their Money. Buffalo, N. Y., Oct. 15.-The run on the Fidelity Trust company which started vesterday continued this morning. When the doors were opened there were probably 200 people in line. They were given their money as fast as their accounts could be verified.


Article from The Washington Times, October 15, 1901

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Article Text

On rumors of bank troubles in Buffalo, the hammering of the market was resumed. The facts developed that there was a small run on the Fidelity and Trust Company Bank. The bank was solvent, and the run merely grew out of some unfavorable rumors. Stocks rallied when later advices proved that fears were groundless.


Article from Americus Times-Recorder, October 16, 1901

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Article Text

Run on Fidelity Trust Company. BUFFALO, Opt. 15.-The run on the Fidelity Trust company continued this morning. When the doors were opened there were probably 200 people in line. They were given their money as fast as their accounts could be verified.


Article from Herald and News, October 17, 1901

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Article Text

Exposition Bank Shaky. A run on the Fidelity Trust company of Buffalo took place the first of the week, but it was soon over. It was caused by the connection the bank had with Exposition funds. The Exposition will be a losing venture for those who invested.


Article from River Falls Journal, October 17, 1901

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Article Text

Run on Buffalo Bank. Buffalo, N. Y., Oct. 15.-A run was started on the Fidelity Trust company, a state banking institution, principally, it was said, by small depositors. The run was said to be due to rumors, which cannot be confirmed, that large sums due the bank from Pan-American contractors would not be fortheoming.


Article from The Chanute Times, January 17, 1902

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Article Text

Pan-American is Bankrupt. Buffalo, Jan. 10.-It having been found impossible to unite the creditors of the Pan-American exposition to bring about the best possible results from the remaining assets of the exposition company, the Fidelity Trust company entered a summons and complaint before the supreme court asking that a receiver be appointed. Of the issue of $2,500,000 in first mortgage bonds $150,000 is still unpaid. The wrecking privilege is held up by claims and judgments.