gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b9ac8d5d9c8610b5
Response Measures
None
Other: Prosecution/indictment of individuals accused of starting the run (legal action), but no bank operational measures described in the articles.
Receivership Details
Depositor recovery rate
86.6%
Date receivership started
1934-05-09
Date receivership terminated
1938-10-07
Share of assets assessed as good
31.5%
Share of assets assessed as doubtful
68.3%
Share of assets assessed as worthless
0.2%
Events (3)
1.January 3, 1923Chartered
Source
historical_nic
2.July 11, 1931Run
Cause
Rumor Or Misinformation
Cause Details
Mr. and Mrs. Monroe Froelich allegedly withdrew $1,000 and spread reports the bank was insolvent, triggering heavy withdrawals.
Measures
Bank reassurances; most withdrawn funds were reportedly redeposited.
Newspaper Excerpt
the rumors resulted in withdrawal about $200,000, most of which had been redeposited.
Source
newspapers
3.May 9, 1934Receivership
Source
historical_nic
Newspaper Articles (10)
1.July 11, 1931Springfield Evening UnionSpringfield, MA
Article Text
More May Be Held for Causing Run
Indictments May Be Brought Against Others Than Froelich's.
July (AP) The Nassau County Grand Monroe Froelich Hewlett. for ing Woodmere bank, today considering handing indictments against other persons. The accused of startout their the that the The the district office them They did few their friends, Other persons questioned by Grand Jury.
2.July 11, 1931Daily SentinelRome, NY
Article Text
Couple Indicted For Starting Run On Bank Mineola, July 11 Nassau County grand jury, after indicting Monroe Froelich, Hewlett, Long Island, for causing run Woodmere bank, was to day considering indictments against other persons. The Froelichs were accused of starting run the mere National Bank by out their and spreading re ports that the bank was insolvent.
3.July 11, 1931Jackson Citizen PatriotJackson, MI
Article Text
COUPLE INDICTED FOR CAUSING RUN ON BANK
Mineola, N. July The jury, for causing run Woodmere handing up indictments against other The Froelichs of starting Woodmere Bank drawing $1,000 spreading reports the insolvent The told the district attorney' voice phoned out their They did and of friends, they Other persons counts are to be questioned by grand jury.
4.July 11, 1931The Ithaca JournalIthaca, NY
Article Text
Indicts Couple for Causing Woodmere Bank Run
County grand jury, indicting Mrs. Monroe Froelich Iewlett. Long Island, for causing run Woodmere was today sidering handing up indictments against other persons. The accused run on the Bank by out their $1,000 the report that the bank insolvent.
5.July 11, 1931Elmira Star-GazetteElmira, NY
Article Text
Two Are Indicted For Run On Bank
Mineola, July Nassau County jury, after indicting Mr. Monroe Froelich, of Hewlett, Long Island, for causing run Woodmere bank, today handing up indictments against other persons. The Froelichs were accused of starting the HewlettWoodmere National Bank by drawout their $1,000 and spreading reports that the bank was insolvent.
6.July 11, 1931The NewsPaterson, NJ
Article Text
Indict Two for Causing Run Woodmere Bank on
Mineola, Nassau county grand jury, The indicting Mr. and Mrs. MonFroelich. Hewlett, Long roe Island. for causing Woodmere considhanding up indictments ering against other The Froelichs accused on the starting bank by drawtheir and the the bank was told attorney's office that telephoned take their money. They few their friends, Other persons who are
7.July 11, 1931The Pasadena PostPasadena, CA
Article Text
Man, Wife Indicted For Causing Bank Run
MINEOLA, N. Y., July 11. (AP)The Nassau county grandjury, after indicting Mr. and Mrs. Monroe Froelich, of Hewlett, Long Island, for causing a run on Woodmere bank, was today considering handing up indictments against other persons. The Froelichs were accused of starting run on the National Bank by drawing out their $1,000 and spreading the reports that the bank was insolvent.
8.July 11, 1931The Portsmouth StarPortsmouth, VA
Article Text
Two Indicted For Starting "Run" On Bank
July The Nassau County grand ter indicting and Mrs. Monroe Long causing Woodmere considering heading against persons. The Froelichs accused National Bank drawing spreading the the district attoroffice that mysterious them take They did and told they said. Other persons withdrew counts are be questioned by jury.
9.July 12, 1931The Owensboro MessengerOwensboro, KY
Article Text
Couple Indicted For Run On Bank Causing Mineola, July Nassau grand jury, after dicting Mr. and Mrs. Froelich, Hewlett, Long Island, for causing bank today considered handing up indictments against other persons. The Froelichs were accused of starting run on the HewlettWoodmere National bank by drawout their $1,000 and spreading the reports that the bank insolvent.
10.July 14, 1931Brooklyn EagleBrooklyn, NY
Article Text
Deny Causing Run On Bank
Mineola, July and Mrs. Monroe Froelich of Woodmere pleaded not guilty yesterday before County Judge Lewis Smith here to an indictment charging circulating false rumors about the HewlettWoodmere Bank of Woodmere. District Attorney said the rumors resulted in withdrawal about $200,000. most of which had been redeposited.
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.