Accommodated withdrawals, Public signal of financial health
Description
A brief depositor run occurred in mid-May 1904 but ceased after the cashier displayed $50,000 cash. No suspension, closure, or receivership is mentioned. Cause appears to be rumors/reports of trouble though the exact origin is unknown.
Events (1)
1.May 11, 1904Run
Cause
Rumor Or Misinformation
Cause Details
Unnamed reports/rumors triggered depositors to demand money; origin unknown.
Measures
Cashier displayed $50,000 in the vault to satisfy depositors and stop the run.
Newspaper Excerpt
Last Wednesday morning a run was started on the First National Bank of Raton. Depositors came demanding their money, but Cashier Blackwell soon satisfied them by showing them $50,000 in cash in the vault, and the run soon ceased.
Source
newspapers
Newspaper Articles (3)
1.May 16, 1904Santa Fe New MexicanSanta Fe., Santa Fe, NM
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Article Text
THREATENED RUN ON RATON BANK Depositors Demanded Their Money But Were Satisfied When the Cashier Showed $50,000 in Vault. Last Wednesday morning a run was started on the First National Bank of Raton. Depositors came demanding their money, but Cashier Blackwell soon satisfied them by showing them $50,000 in cash in the vault, and the run soon ceased. It is yet unknown how the run started or who gave out reports that would start such an action. Mr. Blackwell would like very much to secure evidence that would lead to the cause of the temporary run. The First National Bank of Raton is considered one of the strongest financial institutions in New Mexico. The run on Wednesday will not affect the bank in the least.
2.May 17, 1904Las Vegas Daily OpticLas Vegas, NM
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Article Text
Run on Raton Bank. Last Wednesday, morning a run was started on the First National bank of Raton. Depositors came demanding their money, but Cashier Blackwell soon satisfied them by showing them $50,000 in cash in the vault, and the run soon ceased. It is yet unknown how the run started or who gave out reports that would start such an ection. Mr. Blackwell would like very much to secure evidence that would lead to the cause of the temporary run. The First National bank of Raton is considered one of the strongest financial institutions in New Mexico. The run on Wednesday will not affect the bank in the least.
THREATENED RUN ON RATON BANK Last Wednesday morning a run was started on the First National bank of Raton. Depositors came demanding their money, but Cashier Blackwell soon satisfied them by showing them $50,000 in cash in the vault, and the run soon ceased. It Is yet unknown how the run started or who gave out reports that would start such an aetion. Mr. Blackwell would Mke very much to secure evidence that would lead to the cause of the temporary run. The First National bank of Raton is considered one of the strongest financial institutions in New Mexico. The run on Wednesday will not affect the bank in the least.
