gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cff8b91221168a88
Response Measures
None
Description
Bank was sold/taken over after run; president later died reportedly from grief.
Events (3)
1.January 8, 1927Run
Cause
Bank Specific Adverse Info
Cause Details
Run triggered by arrests/embezzlement by three bank officials (thefts/defalcations totaling reported $100,000–$400,000).
Measures
Imported $1,000,000 (and reports of $800,000–$2,000,000) in cash from other banks/Federal Reserve to meet withdrawals.
Newspaper Excerpt
A million-dollar run on the Broadway Central Bank... after arrests.
Source
newspapers
2.January 8, 1927Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed during the run after heavy withdrawals tied to embezzlement revelations; clerks stopped paying out.
Newspaper Excerpt
the bank closed its doors because the clerks were tired.
Source
newspapers
3.January 12, 1927Receivership
Newspaper Excerpt
the Broadway Central bank... was taken over Monday by the Central Mercantile Bank (Trust) company to protect the depositors. (reports Jan. 11-12).
Source
newspapers
Newspaper Articles (22)
1.January 9, 1927The Goldsboro NewsGoldsboro, NC
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Article Text
MILLION DOLLAR
Officers Declare New York Institution is in Safe Condition
NEW YORK, Jan. mil. convince the people of the countrylion dollar run on the Broadway Cen side of the damage do as I've worktral Bank, from whose coffers three ed to recruit them to my forces enemployees are alleged to have em gaged in destroying community probezzled $100,000 lost in stock specu- So said Mail Order Catalog lation ended late this afternoon when read over sucker-list of some the banks closed their doors be- housands of Wayne County farmers cause the clerks were tired. and Goldsboro citizens who have har About 250 persons remnant of the him in and aided carlier crowd of 2,000 shouted dis. his campaign for years. And approval as the doors were locked ontinued: Chas Heydt, told the depositors barning me, not have that the staff was and there killed the idea represent. My kind was no use in paying out more legion. Millions of me scatmoney as the bank solvent. over the country- many healTo meet the emergency caused by by leeches fattening the gullithe run the bank imported $1,000,00* bility and the thoughtlessness of the in cash from other banks. The offi thousands who seek to save penntes dals maintained that the bank has at the expense of community welfare. not been harmed by the So long as your people receive me employees since all losses wer and my kind into their homes and gulled by the pretty things covered by bonds.
2.January 9, 1927Evening StarWashington, DC
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BROADWAY BANK CLOSES TO END RUN Clerks Too Tired to Continue When $1,000,000 Is Withdrawn After Arrests. By the Associated Press. NEW YORK, January 8-A million-dollar run on the Broadway Central Bank-from whose coffers three employes are alleged to have embez zled $100,000 lost in stock, speculation-ended late this afternoon. when the bank closed its doors because the clerks were tired. About 250 persons. a remnant of the earlier crowd of 2,000. shouted disap proval as the doors were locked. Charles W. Heydt, vice president, told the depositors that the staff was tired and there was no use in paying out more money, as the bank was solvent. To meet the emergency caused by the "run" the bank imported $1,000.000 in cash from other banks. The officials maintained that the bank has not been harmed by the defalcations of its employes, since all losses were covered by bonds. The three men arrested for the al leged enfbezzlement were Harry Rebholz, cashier, of Union City, N. J.: George H. Cook, assistant cashier. and Anthony Giesat, a vice president. The specific charge at the arraign ment was larceny of $10,000. but the court was told that the total would be more than $100,000. State bank examiners, officials of the bank said, had made examinations of the books during the day and pronounced the institution in a satis. factory condition.
3.January 9, 1927Daily NewsNew York, NY
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Article Text
20 POLICE KEEP ORDER IN CROWD STORMING BANK
(Continued from page 3, col. 5) this transaction are settled by the courts, the fund will be held and the bondholders must wait to find out whether they will get it, or whether it will go into the general assets. Cloyd La Porte, of Root, Clark, Howland & Ballantine, counsel for the bondholders' committee, told the bondholders that, in about fifty issues involving buildings where interest had been defaulted, foreclosure proceedings might be necessary.
With thirty law firms untangling affairs of G. L. Miller & Co. startling disclosures loom. Follow developments in the Pink and other editions of THE NEWS tomorrow.
$300,000 Defalcation Starts Run On Bank
Alarmed by the defalcation of three officials of the Broadway Central bank, at Broadway and 97th st., who are-charged with taking in the old of $300,000 of the bank's funds, hundreds of positors yesterday stormed the institution. Early in the day it was reported the bank would remain open until late at night. But the doors closed at 4:45 p. m. Fourteen patrolmen, under Capt. Archie McNeel of the West 100th st. station, and six plainclothes men stayed on duty at the building, keeping the crowd in order. More than $800,000 in cash was brought up from the Federal Reserve to stem the run, and every depositor presenting a withdrawal slip was promptly paid. Harry Gorham, adjuster of the National Surety company, said the defalcation was covered by a heavy blanket bond, and that the bank will not lose a penny. He said the defalcation figure will not pass $300,000. The three accused officials are Anthony Ziesat, 36, vice president and note teller, of 11-12 198th st., Hollis, L. I.; Harry Repholz, 37, cashier, of 48 Hudson ave., Union City, N. J., and George Cook, 29, assistant cashier, of Baldwin, L. I. Yesterday the three were arraigned before Magistrate Earl Smith in West Side court. The men were held without bail for a further hearing next Tuesday.
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4.January 9, 1927Daily NewsNew York, NY
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Article Text
20 POLICE KEEP ORDER IN CROWD STORMING BANK
(Continued from page 3, col. 4) whether it will go into the general assets. Cloyd La Porte, of Root, Clark, Howland & Ballantine, counsel for the bondholders' committee, told the bondholders that, in about fifty issues involving buildings where, interest had been defaulted, foreclosure proceedings might be necessary.
With thirty law firms stangling affairs of G. L. Miller & Co. startling disclosures loom. Follow developments in the Pink and other editions of THE NEWS tomorrow.
$300,000 Defalcation Starts Run On Bank
Alarmed by the defalcation of three officials of the Broadway Central bank, at Broadway and 97th st., who are charged with taking in the 0 od of $300,000 of the bank's funds, hundreds of positors yesterday stormed the institution. Early in the day it was reported the bank would remain open until late at night. But the doors closed at 4:45 p. m. Fourteen patrolmen, under Capt. Archie McNeel of the West 100th st. station, and six plainclothes men stayed on duty at the building, keeping the crowd in order. More than $800,000 in cash was brought up from the Federal Reserve to stem the run, and every depositor presenting a withdrawal slip was promptly paid. In all, more than $1,000,000 was paid out. Harry Gorham, adjuster of the National Surety company, said the defalcation was covered by a heavy blanket bond, and that the bank will not lose a penny. He said the defalcation figure will not pass $300,000. The three accused officials are Anthony Ziesat, 36, vice president and note teller, of 11-12 198th st., Hollis, L. I.; Harry Repholz, 37, cashier, of 48 Hudson ave., Union City, N. J., and George Cook, 29, assistant cashier, of Baldwin, L. I. Yesterday the three were arraigned before Magistrate Earl Smith in West Side court. The men were held without bail for a further hearing next Tuesday.
(Other picture on page 1)
"Stage Tragedies- On and on." by Burns 15, second seetion.
5.January 9, 1927The Montgomery AdvertiserMontgomery, AL
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BANK CLERKS TIRE PAYING OUT FUNDS
Tellers Grow Weary and Close Doors of Institution: Cash Supply Adequate
NEW YORK, Jan. mildollar run on the Broadway Central bank-from coffers three are alleged to have embezzled $100.000 lost in stock ed late this when the bank closed its doors the clerks were tired. About 250 persons, remnant of the earlier 2,000, shouted disapproval as the doors were locked. Chas. W. Heydt, vice-presIdent, told the depositors that the staff tired there was use in paying out more money as the bank was To meet the caused by the "run" the bank Imported $1,000.000 in cash from other banks. The officials maintained that the bank has not been harmed by the defalcations ered by bonds. The three arrested for the alleged were Harry hols, cashier. of Union City, George H. Cook, assistant cashier, and Anthony Glesat. vice-president. The specific charge at the arraignment was larceny $10,000 but the told that total would than State bank officials of had made of the books during the day and pronounced the Institution in satsifactory condition.
Bank Pays Out Funds Until Clerks Tire; Still Sound
NEW YORK. Jan. 8 (AP) million dollar run on the Broadway Central bank- from whose coffers thre ployers are alleged to have embersied $100,000 lost ni stock speculation -ended late this after non when the bank closed its doors because the clerks were tired. About 250 persons, remnant of the earlier crowd of 6,000 shouted disapproval as the doors were lock ed. Charles W. Heydt vice president told the despositors that the staff was tired and there was no use in paying out more money as the bank was solvent. To meet the emergency caused by the the bank imported 1,000,000 in cash from other banks. The officials maintained that the bank had not been harmed by the of its employes. since all losses were novered by bonds.
7.January 9, 1927Evening starWashington, DC
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BROADWAY BANK CLOSES TO END RUN
Clerks Too Tired to Continue When $1,000,000 Is Withdrawn After Arrests.
By the Press lion-dollar run on the Broadway Cen tral Bank whose coffers three employes are alleged to have embez zled $100,000 lost in stock, specula tion-ended late this afternoon. when the bank closed its doors because the clerks were tired. About 250 persons remmant of the earlier of 2,000 shouted disap proval as the doors were locked Charles W Heydt. vice president, told the depositors that the staff was tired and there was no use in paying out more money as the bank was solvent To meet the emergency caused by the "run" the bank imported $1,000 in cash from other banks The officials maintained that the bank has not been harmed by the defalcations of its employes, since all losses were covered by bonds The three men arrested for the al leged enfbezzlement were Harry Reb holz. cashier. of Union City, George Cook assistant cashier and Anthony Giesat, vice president The specific charge at the arraign ment was larceny of $10,000. but the court was told that the total would be more than $100,000 State bank examiners. officials of the bank said, had made examinations of the books during the day and pro nounced the Institution in satis factory condition.
8.January 10, 1927The Washington Daily NewsWashington, DC
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Arrests Start Bank Run NEW YORK-Hearing that three officials of the Broadway Central Bank had been arrested on a charge of embezzling $10,000, customers started a run. The bank had to send for $1,000,000 to meet the demand.
9.January 10, 1927Kirksville Daily Express and Kirksville Daily NewsKirksville, MO
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TODAY'S MARKET
Produce Market # St. Louis, Jan. 10. Eggs: First country candled 38 cents. Butter Creamery extras 49 cents; standards 47 cents; firsts 38 cents: seconds 36 cents. Poultry Hens 19 @ 23 1-2 cents; turkeys 33 @ 39 cents; spring chickens 28 cents: ducks 23 @ 25 cents; geese 15 @ 17 cents; cocks 15 cents.
East St. Louis, Jan. 10. Hog receipts 19,500. Market 10 to 15 low-
250-350 lbs. $11.65 to $11.90 200-250 lbs. 11.75 to 12.05 160-200 lbs. 11.75 to 12.15 130-160 lbs. to 12.15 90-130 lbs. 11.00 to 11.55 Packing SOWS to 10.90 Cattle receipts 6500. Market slow. Beef steers $ 7.75 to 9.00 Light yr. and heifers 6.00 to 8.00 Beef cows 5.00 to 6.00 Cutters 3.60 to 4.60 Vealers 14.75 to 15.00 Heavy calves 6.50 to 8.00 Stockers and feeders 7.00 to 8.00 Sheep receipts 1,000. Maket stea-
Top fat lambs $.12.75 Bulk fat lambs $12.25 to 12.50 Bulk cull lambs $8.50 Bulk fat ewes to $6.00
KIRKSVILLE PRODUCE MARKET Prices Furnished by F. M. Stamper Company
Eggs No. Hens No. Springs Leghorns Leghorns Staggs Old roosters No. Turkeys No. Turkeys No. ducks No. geese Hides Packing butter Cream
30c 21c 18c 17c 15c 14c
Clerks Tired. So Bank Closes New York Jan A million dollar run on the Broadway Central Bank. from whose coffers three employes are alleged to have embezzled $100,000 lost in stock speculation. closed its doors because the clerks were tired About 250 persons, a remnant of
10.January 11, 1927The Albert Lea TribuneAlbert Lea, MN
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Show of Money Fails to Block Run on Bank
New York, play of $2,000,000 in greenbacks and that bank solvency had purchased failed yesterday to stop $1,000,000 run on the Broadway the Central bank caused by reports alleged embezzlement by three its employes.
11.January 11, 1927Daily NewsNew York, NY
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BESIEGED BANK SOLD! LAST DEPOSITOR PAID OFF.-Here is the long line of little depositors who yesterday continued the run on Broadway Central bank, 97th st. and Broadway. The last saver claimed his little roll last night and peace reigned on the scene again. But in order to
12.January 12, 1927The South Bend TribuneSouth Bend, IN
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RUN ON BANK
Depositors Outnumber Those Who Withdraw Funds.
REPEAL SEEMS IMPROBABLE IN NEW YORK, Jan. run of STATE LEGISLATURE. the Broadway Central bank which began last Saturday when three officers were arrested for thefts totaling Representatives From Thirteenth $100,000, and which resulted withDistrict Divided in Opinions drawals of about $1,600,000, has ended. Proposed Action. Only seven persons appeared at the bank Tuesday withdraw funds, while 25 new or old customers made Indianapolis Bureau, The South Bend deposits. The bank was taken over Monday INDIANAPOLIS, Jan. by the Central Mercantile Bank of the absent voters' law, which was Trust company, which has assets of advocated bill introduced in the approximately $50,000,000.
13.January 22, 1927CommercialBangor, ME
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Bank President Dies From Grief Over Run On Bank
New York, Jan. over run on the Broadway Central bank of which he was president believed by friends have caused the death of Frank Williams, 51. The occurred two weeks after the arrest of three trusted employes of the bank. continued for two days during which more than million dollars was in deposits. The run ended when the institution was sold to the Mercantile Trust and Bank Co., to protect the depositors. The closing the bank was severe blow Mr. who founded It with group of associates in 1914.
Bank President Grieves To Death at Run on Bank New York, Jan, 22 (AP) - Grief over a run on the Broadway Central bank, of which he was president, is believed by friends to have caused the death of Frank Wllliams, 51 years old. The run occurred two weeks agai after the arrest of three trusted employes of the bank. It continued for two days during which more than a million dollars were withdrawn in deposits. The run ended when officials sold the institution to the Mercantile Bank and Trust company to protect the depositors. The closing of the bank was a severe blow to Mr. Williams, who founded the institution with group of associates, in 1914.
15.January 22, 1927The Chico EnterpriseChico, CA
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Grief Fatal To Bank President
NEW YORK. 7:35 A. The death of Frank Williams, president of the Broadway Central bank was generally ascribed today to grief over run on the bank.
16.January 22, 1927Record SearchlightRedding, CA
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RUN ON BANK KILLS ITS HEAD
NEW YORK, Jan. death of Frank Williams, president of the Broadway Central bank, was ascribed to grief over on the bank. Withdrawals of deposits more than $1,000,000 followed ports of thefts of three employes.
17.January 23, 1927Bakersfield Morning EchoBakersfield, CA
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GRIEF BRINGS DEATH NEW YORK, Jan. 22. death of Frank, Williams, president of the Broadway Central Bank was today to grief over a run on the bank.
18.January 23, 1927The Morning PressSanta Barbara, CA
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GRIEF CAUSES DEATH
NEW YORK: Jan. 22.-(P)The death of Frank Williams, president of the Broadway Central bank, was generally ascribed today to grief over a run on the bank
19.January 23, 1927The Sacramento UnionSacramento, CA
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BANK PRESIDENT DEAD
NEW YORK. Jan. Frank Williams, 51 years old, president of the Broadway Central bank until the institution was sold to the Central Mercantile Bank and Trust company during heavy run by depositors two weeks ago, is dead at his home here.
20.January 24, 1927The Jersey JournalJersey City, NJ
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CHEERS FOR BROWNING AT TRIAL Invalid Woman Rescued As Fire Sweeps House 3 BANK OFFICIALS ADMIT THEFTS
TOTAL STOLEN WAS $400,000; BANKERS STATE
New York. Jan Three former officials of the Broadway Central Bank. who took money from the institution to bet on horse races and caused a run on the bank which only ended when it was sold to another bank. pleaded guilty today The former officials are Harry B. Rebholz, 948 Hudson Avenue, Union City, N. J., cashier: Anthony Ziesat, vice president. and George H. Cook. assistant They all pleaded guilty to first degree grand lareeny with which they were accused in an indictment charging. 14 they had stolen $4,000. Officials of the bank informed the court that the money stolen would amount to $400,000 or more when an audit of the books is completed. Sentence was deferred until Feb. 18. The Court was asked by the District Attorney's office to order the prisoners to help bank officials in straightening out the financial tangle they created by their thefts. which was said were made so that the men might speculate stocks After the three men arrested and had told police of stealing so that they might speculate in stocks. in doing which they lost the money they had stolen. hundreds of depositors stormed the Broadway Central Bank demanding their money Officials addressed the crowd. saying that all the loss was by bonds, but the could not be halted The bank kept open and on the first day of the run .000,000 withdrawn. On the next day additional funds were brought in from other banks and $2,000,000 in bills was piled in window of the bank in futile effort to give the withdrawing depositors conAdence in the stability of the Institution Withdrawals that day amounted to about $700,000 The next day it was announced that the bank had been with the Central Bank & Trust Company, and the excitement subsided and deposits began to replace withdrawals Frank Williams president of the Broadway Central until it was taken over by the other bank. died a few days later
21.January 24, 1927Seward Daily GatewaySeward, AK
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BANK PRESIDENT DIES NEW YORK, Jan- 24. (AP)-Presi. / dent Williams of the Broadway Central bank died from worry and disappointment over a run on the bank as the result of the absconding of employes which forced the sale of the institution.
22.January 25, 1927Seward Daily GatewaySeward, AK
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BANK PRESIDENT DIES NEW YORK, Jan- 24. (AP)-Presi. dent Williams of the Broadway Central bank died from worry and disappointment over a run on the bank as the result of the absconding of employes which forced the sale of the institution.
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.
