gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
665fb8ce853a46d8
Response Measures
Accommodated withdrawals, Public signal of financial health, Capital injected
Events (3)
1.November 12, 1863Chartered
Source
historical_nic
2.November 17, 1877Run
Cause
Rumor Or Misinformation
Cause Details
Contemporary reports describe a crowd and public alarm without citing bank insolvency or specific adverse disclosures; wealthy citizens posted guarantees and made deposits to reassure the bank.
Measures
Wealthy citizens posted a guarantee over the door and made deposits to show confidence.
Newspaper Excerpt
There is now a run being made on the First National Bank of this city, a large crowd surrounding the door.
Source
newspapers
3.April 12, 1921Voluntary Liquidation
Source
historical_nic
Newspaper Articles (10)
1.November 17, 1877Evening StarWashington, DC
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Article Text
Run on a Savings Bank. PHILADELPHIA, Nov. 17.-A dispatch from Reading says:-There is now a run being made on the First National Bank of this city, a large crowd surrounding the door. Several citizens, to show confidence in the institution, are making deposits. The following notice is posted over the door:The undersigned hereby guarantee the payment of all deposits in the First National Bank of Reading. [Signed]-E. & G. Brooke, Morton Mclivain, W. H. Clymer, E. D. Smith. They are all wealthy furrace men at Birdsboro'.
Run on the Bank. National Associated Press to the Star. READING, PA., Nov. 17.-A run is now being made on the First National Bank, of Reading. There is a large orowd around the doors. Several citizens, to show their confi lence in the institution, are making deposits. -
3.November 17, 1877The Rock Island ArgusRock Island, IL
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Article Text
BANK SCARE. A Run on the First National Bank of Reading, Pa. ALOA READING, Nov. 17,-There is now a run being made on the First National Bank of this city. A large crowd is surrounding the door. Several wealthy citizens, to show their confidence in the institution are making deposits.
4.November 18, 1877The New Orleans Daily DemocratNew Orleans, LA
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Article Text
Reading, Pa., Bank Troubles. READING, Pa.. Nov. 17.-A run is now being made on the First National Bank of Reading. There is a large crowd around the doors. Severai citizens, to show confidence in the institution, are making deposits. The following is posted on the door: "The undersigned hereby guarantee the pavment of all deposits in the First National Bank offReading. Signed, E. & G. Brooke Newton McIlvane, Wm. H. Clymer, E. D. Smith." E. & G. Brooke are wealthy furnace men of Bridesboro, Newton McIlvane is president of the iron works in this city, Wm. H. Clymer is the owner of Temple furnace at Temple Station, and E. D. Smith is treasurer of the Roading Gas Company, all being men of high standing in the community.
TELEGRAPHIC TICKS. A run was made on the First National Bank of Reading, Pa., yesterday. McKinney & Co., bankers, of Portsmouth, Ohio, made an assignment yesterday. No particulars given. A fire at Pekin, Ill., yesterday, destroyed the residence of Hon. B.S. Peettyman, valued at $75,000; insured for $30,000. A dispatch from Belgrade reports great uneasiness in that city. Eight thousand infantry and six batteries left there for the frontier yesterday, and their movements indicate a demonstration against Austria.
Death of Geo. S. Bangs. CHICAGO, Nov. 17. The telegraph announces the death of Hon. Geo. S. Bangs, at Washington, at three o'clock this morning. In this city, where he was well known, the news causes universal regret. He formerly held the position of United States Sub-Treasurer here, but his fame was chiefly acquired and earned through his connection with the fast mail service, which he probably did more to improve than any other person. Run on a Reading Bank. PHILADELPHIA, Nov. 17. A dispatch from Reading says: There is now a run being made on the First National Bank of this city. There is a large crowd surrounding the door. Several wealthy citizens, to show confidence in the institution, are making deposits.
Run on a Reading Bank. PHILADELPHIA. November 17.-A dispatch from Reading says there is now a run being made on the First National of this city, and a large crowd surrounding the door. Several wealthy citizens, to show con fidence in the institution, are making deposits. READING, PA., November 17.-A representative of the Associated Press visited the three National Banks doing business here in view of a Philadelphia dispatch reporting a run, and this is the result : Henry S. Eckert, President of the Farmers' National Bank, said: We are doing less than our usual business. and receiving more than we pay out." X. H. Clymer, President of the First Na. tional, said: "There is no run on our bank, and we are receiving nearly as much as we pay out. We are ready to
8.November 19, 1877Daily Kennebec JournalAugusta, ME
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Article Text
PENNSYLVANIA. Run on a Savings Bank. READING, November 17. There is a run on the First National Bank. A large crowd is surrounding the doors. Several citizens to show confidence in the institution are making deposits. Notices are posted over the door signed by several wealthy citizens, guaranteeing payment of deposits in the bank. None of the savings banks have as yet made any statements.
9.November 19, 1877The Daily DispatchRichmond, VA
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Article Text
Pennsylvania. RUN 0 N A BANK. PHILADELPHIA, November 17.-A dispatch from Reading says: There is now a run being made on the First National Bank of this city, a large crowd surrounding the door. Several citizens, to show confidence in the institution. are making deposits. The following notice is posted over the door: The undersigned hereby guarantee the payment of all deposits in the First National Bank of Reading. [Signed] E. & G. Brooke, Morton McIlvain, W.H. Clymer, E. D. Smith. They are all wealthy furnace-men at Birdsboro.
10.November 22, 1877Mexico Weekly LedgerMexico, MO
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Article Text
Last Saturday a run was being made on the First National Bank of Reading, Pa. off od for III:
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.
