Second National Bank (Elmira, NY)

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Episode Information

Episode UID
14901004
Episode Type
Run Only
Bank Type
national
Bank ID
1490 national
Charter Number
149
Start Date
August 7, 1883
Location
Elmira, New York (42.090, -76.808)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
64233b0394c54b84

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected

Events (3)
1. December 11, 1863 Chartered
Source
historical_nic
2. August 7, 1883 Run
Cause
Bank Specific Adverse Info
Cause Details
Reports that the bank's president D.R. Pratt lost $150,000 in pork speculations generated rumors about the bank's soundness.
Measures
President reportedly settled demands from his private fortune and banks/public statements reassured depositors; bank said to have funds to pay depositors.
Newspaper Excerpt
There is a big run on the Second National Bank of Elmira in consequence of its president, D. R. Pratt, having lost $150,000 in a pork speculation.
Source
newspapers
3. February 25, 1939 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (10)
1. August 8, 1883 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, August 8, 1883

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Article Text

Kun on a Bank. NEW YORK, August 7.-The Commercial Advertiser says there is a big run on the Second National Bank of Elmira in couse quence of its president, D. R. Prat, having lo-t $150,000 in a pork speculation. The bonk is believed to be solvent, and is able to stand a loss of $150,000 or $300,000. Another account says: There was Fome anxiety in business circles yesterday morning on account of rumors 88 to the soundness of the Second National Bank, eaused by the rumored epeculation of its president. When i: was ascertained that the president had aettied all demands against himself from his private fortune, leaving him still worth sev. eral hundred thousand dollars, and that the bank had money ready to pay every depositor, a reaction took place. There is now no excitement. The other banks assert that there is no cause for alarm.

2. August 8, 1883 Daily Republican Wilmington, DE
Article from Daily Republican, August 8, 1883

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Article Text

Busin The effect of the Barlow failures was very depressing on business in St. Albans, Vermont, yesterday. President Brainerd, of the Trust Company, says the depositors " will not lose much," but the depositors are less hopeful. The Company's last statement showed that it had 2,100 depositors with deposits aggregating $600,000. Several railroad men, among them General Fairbanks, bad a conference at Barlow's house. The First National Bank prepared for a run yesterday morning, but none trok place. Wright, Wooster & Co., wool deal. ers, of Boston, made an assignment yesterday. Their liabilities are supposed to be large. The firm was considered worth from $100,000 to $150,000. It stood well in repute, and the failure caused much surprise. W. C. & R M. Silesby, tanners, of Troy, New Hampshire, have failed as a consequence of the failure of Hersey, Whittier & Wyman, of Boston. E.M. McClure, tanner and currier, of Peabody, Massachusetts, has also failed. Several small boot and shoe firms of Lynn, Massachusetts, failed yesterday, in consequence of the suspension of Charles W. Clements, but it is thought their suspension will be only temporary. The Boston Traveler reports the failure of William B. Fowle, Treasurer of the Auburndale Watch Company, and says it will involve the Company. His liabilities are supposed to be small. There was a heavy run on Monday upon the Second National Bank of Elmira, New York, because its President, as reported, had lost $150,000 in pork speculations. As he was stated to have fully settled all the demands upon him, still retaining a large private fortune, the run upon the bank ceased yesterday. The Chicago and Alton Railroad Company has given notice of its withdrawal from the Chicago, and St. Louis freight pool. This action, a result of the recent cut in passenger rates, is regarded as portending " a general passenger and freight war betweu the points named." diseases of

3. August 8, 1883 Wheeling Register Wheeling, WV
Article from Wheeling Register, August 8, 1883

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Article Text

Run ou a Bank. NEW YORK, August 7-There is a big run on the Second National Bank of E'mira, in consequence of its president. D R. Pratt, having lost $150,000 in a pork speculation. The bank is believed to be solvent. as the president is able to stand losses of $150,000 or $300,000.

4. August 8, 1883 The Daily Cairo Bulletin Cairo, IL
Article from The Daily Cairo Bulletin, August 8, 1883

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A Solvent Bank. NEW YORK, August -The Commercial Advertiser says there is a big run on the Second National Bank of Elmira, in consequence of its president. D.R. Pratt. hav. ing lost $150,000 in a pork speculation. The bank is believed to be solvent. Has the president been able to stand the loss of $150,000 or $300,000?

5. August 8, 1883 The Waco Daily Examiner Waco, TX
Article from The Waco Daily Examiner, August 8, 1883

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Article Text

NEW YORK, August 7. The Commer cial Adv ruser says: There is a big run on the Second National bank, of Elmira, in consequence of its president, D. R. Pratt, having lost $150,000 in a pork speculation. The bank is 1, lieved to be solvent. It has is president able to stand the loss of $150,000 or $300,000. EX-PRESIDENT DAVIS AND JUDGE BLACK PHILADELPHIA, August 7. The Times prints an elaborate answer from Jefferson Davis to Judge Black's repeated exposure of secession secrets. in which the ex-confederate president renewed in rather pun gent sentences the assertions and record of Judge Black as President Buchanan's chief cabinet officer. ARMS AND AMMUNITION FOR CHINA. SAN FRANCISCO, August 7.-Last Thursday five hundred cases of ammunition and arms were sent on the Pacitic

6. August 8, 1883 Daily Los Angeles Herald Los Angeles, CA
Article from Daily Los Angeles Herald, August 8, 1883

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EASTERN. Run on a Bank. NEW YORK, Aug. 7.--The Commercial Advertiser says: There is a big run on' the Second National Bank of Elmira, in consequence of its President, D. R. Pratt, saying that he lost $150,000 in the Park speculation. The bank is believed to be solvent. It says the President is able to stand the loss of $150,000 or $300,000. Sterling Exchange and Bonds. NEW YORK, August 7.-Sterling bills on London, sixty days, $4.84}; sterling bills on London, sight drafts, $4.88; U. S. 4y's of 1891, interest quarterly, $1121; U. S. 4's of 1907, interest quarterly, $119; U.S. 3's, $1.03; Western Union Telegraph, $78.

7. August 8, 1883 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, August 8, 1883

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BUSINESS FAILURES. Failures Run en a National Bank at Lynn. Mass.-.A Treasarer Short. NEW YORK, Aug, 7.-The Commercial Ad. vertiser says there is a big run on the Second National bank of Elmira, it consequence of President D. R Pratt having lost $150,000 in a pork speculation. The bank is believed to be solvent, as the president is able to stand a loss of $150,000 or $300,000. BOSTON Mass. Aug. 7.-The - Heraid says there were reports in Lynn of several failures, on account of the suspension of Charles W Clements among small manufacturers Most of the shoes made by them were for Clements' (rade Samuel Gale was among those reported embarrassed. None of the factories affected by Clements' failure employ over thirty or forty hands, and it is said their suspension will be only temporary The Shaw failure is thought to be more far-reaching in its effect upon some of Lynn's business men than the public has yet been given to understand C. H. Ward's state ment is thought to be peculiar and places one of the city's financiers in a position which 49, was not thought to occupy. It is asserted that several suspensions will occur among small Lynn manufacturers during the eusu ing few days, but it is thought no large amounts will be involved in any cases BOSTON, Aug. 7 -The Traveller says Wil liam P. Fowler, treasurer of the the Auburn date watch company, failed. Liabilities are now supposed to be small, although notning definite is yet learned The failure will un doubtedly involve the Auburndale watch company, whose liabilities, it is thought, far exceed its assets

8. August 8, 1883 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, August 8, 1883

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Bank Row. New York, 7.-The Commercial. Aavertiser says there is a big run on the Second National Bank of Elmira in consequence of its president, D. R. Pratt, saying he lost $150,000 in pork specuistion. The bank is believed to becolvent, and says the president is able to stand the loss of $150,000 or $300,000.

9. August 9, 1883 The Dallas Weekly Herald Dallas, TX
Article from The Dallas Weekly Herald, August 9, 1883

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Article Text

Run on Bank. NEW YORK, Aug. 7.-The Commercial Advertiser says there is a big run on the Second National bank of Elmira, in consequence of its president. D. R. Pratt, having lost $150,000 in pork speculation. The bank is believed to be solvent and has a president able to stand the loss of $150,000 or $300,000. ELMIRA, N. Y., Aug. -There was some anxiety in business circles yesterday morning on account of rumors as to the 00 indness of the Second National bank. caused by the rumored speculation of it president. When it was ascertained that the president had settled all demandsagainst himself from his private fortune, leaving him still worth several hundred thousand, and that the bank had money ready to pay every depositor, a reaction took place and there is now no excitement. Other banks assert there was no cause for alarm.

10. August 10, 1883 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, August 10, 1883

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Running a Bank. ELMIRA, N. ¥., Aug. 7.-There was some anxiety in business circles yesteday morning, on account of rumors as to the soundness of the Second National bank, caused by the rumored speculations of its president, when it was ascertained that the president had settled all demands against himself from his private fortune, leaving him still worth several hundred thousand dollars and that the bank had money ready to pay every depositer. A reaction took place, and now there is no excitement. Other banks assert no cause for alarm. NEW YORK, Aug. 7. -The Commercial Advertiser says there is a big run on the Second National bank of Elmira in consequence of its president, D. R. Pratt, having lost $150,000 in pork speculation. The bank is believed to be solvent, as the president is able to stand a loss of $150,000 or $300,000.