Multiple newspaper reports (Nov 15, 1906) describe a run on the State Bank in New Brunswick driven by depositor suspicion/rumors. Bank officials and prominent citizens publicly reassured depositors; no suspension or closure is reported.
Events (1)
1.November 15, 1906Run
Cause
Rumor Or Misinformation
Cause Details
General depositor suspicion/rumors prompted withdrawals; articles give no concrete adverse facts or specific misinformation event.
Measures
Prominent citizens and the vice president publicly assured depositors the bank was sound; warning that those withdrawing would lose six months' interest; many depositors instead made deposits to show confidence.
Newspaper Excerpt
During a run on the State bank here several prominent citizens assured suspicious depositors that the bank was entirely sound
Officials Say Bank Is Sound. NEW BRUNSWICK, N. J., Nov. 15. -During a run on the State bank here several prominent citizens assured suspicious depositors that the bank was entirely sound and warned them that those who insisted on withdrawing their money would lose six months' in. terest, payable Jan. 1. Many citizens then forced their way to the teller's window and made large deposits to show their faith in the bank. Congressman Benjamin F. Howell, vice president of the bank, said there was absolutely no reason for distrust in it.
Officials Say Bank Is Sound. NEW BRUNSWICK, N. J., Nov. 15. -During a run on the State bank here several prominent citizens assured suspicious depositors that the bank was entirely sound and warned them that those who insisted on withdrawing their money would lose six months' interest, payable Jan. 1. Many citizens then forced their way to the teller's window and made large deposits to show their faith in the bank. Congressman Benjamin F. Howell, vice president of the bank. said there was absolutely no reason for distrust in it.
May Bank 10 Bound. NEW BRUNSWICK, N. J., Nov. 18. -During a run on the State bank here several prominent citizens assured sue picious depositors that the bank entirely sound and warned them that those who insisted on withdrawing their money would lose six months' in terest, payable Jan. 1. Many citizens then forced their way to the teller's window and made large deposits to show their faith in the bank. Cosgressman Benjamin F. Howell, vies president of the bank, said there was absolutely no reason for distrust in It
