gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2b270bd0b940de24
Response Measures
None
Events (1)
1.October 15, 1901Run
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)
1.October 15, 1901Daily CameraBoulder, CO
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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.
2.October 15, 1901Arizona RepublicanPhoenix, AZ
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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.
3.October 15, 1901The Providence NewsProvidence, RI
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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.
4.October 15, 1901Waterbury DemocratWaterbury, CT
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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.
5.October 15, 1901The SunWilmington, DE
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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.
6.October 15, 1901The Topeka State JournalTopeka, KS
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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.
7.October 15, 1901The Washington TimesWashington, DC
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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.
8.October 16, 1901Americus Times-RecorderAmericus, GA
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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.
9.October 17, 1901Herald and NewsRandolph, VT
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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.
10.October 17, 1901River Falls JournalRiver Falls, WI
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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.
11.January 17, 1902The Chanute TimesChanute, KS
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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.
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.