Article Text
BRAINERD STATE BANK CLOSED Heavy Run on Institution This Morning Causes Doors to be Closed CARBON MONOXIDE GAS NEARLY FATAL HOTEL PROJECT IS CONSIDERED BRAINERD BOYS BAND REHEARSALS
Brainerd State Bank (Brainerd, MN)
Episode Information
- Episode UID
176957491492- Episode Type
- Run → Suspension → Unsure
- Bank Type
- state
- Bank ID
-
17695749hash - Start Date
- April 7, 1924
- Location
- Brainerd, Minnesota (46.358, -94.201)
Metadata
- Model
- gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
88c8bdf317f7e093
Response Measures
None
Description
The run was triggered by a specific misunderstanding regarding the cashier's health/accident, which the bank and state officials explicitly identified as the cause.
Events (3)
1.
April 7, 1924
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Rumors that the cashier had been killed by carbon monoxide gas led to a panic and heavy withdrawals.
- Random Run
- Yes
- Random Run Snippet
- rumored cashier killed by gas; actually injured and recovering; bank solvent
- Measures
- The bank paid out $21,000 before closing its doors and contacting the state banking department.
- Newspaper Excerpt
- Owing to H. E. Kundert's accident this morning, a heavy run was made on the bank, forcing it to close its doors.
- Source
- newspapers
2.
April 7, 1924
Suspension
- Cause
- Rumor Or Misinformation
- Cause Details
- The bank was forced to suspend operations due to the cash drain caused by the run following the cashier's accident.
- Newspaper Excerpt
- The Brainerd State Bank closed its doors at about two o'clock this afternoon.
- Source
- newspapers
3.
April 8, 1924
Other
- Newspaper Excerpt
- Frank V. Artig, state bank examiner, arrived this morning, and has taken charge of the affairs of the Brainerd State Bank
- Source
- newspapers
Newspaper Articles (8)
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Article Text
The Brainerd State Bank closed its doors at about two o'clock this afternoon. A. L. Koop, assistant cashier, makes the following statement: "Owing to H. E. Kundert's accident this morning, a heavy run was made on the bank, forcing it to close its doors. We are in communication with the state banking department and will be in a position to make a definite announcement in the course of a day or two." Mr. Kundert, cashier of the bank, narrowly escaped death by asphyxiation while starting his automobile this morning, and is in a serious condition at St. Joseph's hospital, so that no statement could be had from him, or from Carl Zapffe, president of the bank, who is recovering from an illness of several week's duration. The Brainerd State Bank has been considered one of the city's foremost institutions. Only last year it moved into its new quarters, a home of its own at the corner of South Seventh and Laurel streets. It is hoped that the situation will be remedied and that the bank will be able to resume business in the very near future.
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Article Text
BANK CASHIER OVERCOME AND PANIC LOOMS A bank panic was nearly caused today when it was rumored that H. E. Kundert, cashier of the Brainerd state bank, had been killed by poison automobile gas, according to a report sent the state banking department. As a result of the rumor, within a few hours, $21,000 was withdrawn from the bank, threatening a shortage of available cash. As a matter of fact, Kundert was slightly injured by inhaling automobile gas, and was taken to the hospital. He will recover. The bank is perfectly solvent, officials at the capitol said today.
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Article Text
Brainerd State Bank Is Closed After Run The Brainerd State bank, with deposits totaling approximately $500,000 and a capital of $50,000, was closed today, following a run on the institution yesterday, when more than $21,000 was paid out to depositors, A. J. Viegel, state superintendent of banks, announced today. The run is said to have started when a report was current in Brainerd that the cashier, H. E. Kundert, was reported overcome by monoxide gas.
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Article Text
STATE BANK EXAMINER HERE Frank V. Artig Takes Charge of Affairs of Brainerd State Bank NOW LISTING ASSETS OF BANK Can Make No Definite Statement Until That Work Has Been Completed Frank V. Artig, state bank examiner, arrived this morning, and has taken charge of the affairs of the Brainerd State Bank, which closed its doors Monday afternoon, following a heavy run by depositors, who became frightened when H. E. Kundert, the cashier, had a narrow escape from asphyxiation by carbon monoxide gas while starting his automobile. Mr. Artig stated that he is at present listing the assets and liabilities of the bank, and can make no definite statement until that work is completed. It is possible, he said, that a permanent receiver may be appointed if it is decided to effect a liquidation of the assets, otherwise some sort of an opening of the bank will be made, it is hoped, in the near future. Mr. Kundert was so much improved today that he was able to leave the hospital and return to his home, being taken in a wheel chair.
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Article Text
Frank V. Artig Takes Charge of Affairs of Brainerd State Bank NOW LISTING ASSETS OF BANK
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Article Text
ACCIDENT TO CASHIER CAUSES RUN ON BANK BRAINERD, Minn.—Rumors growing out of an accident to its cashier were declared responsible for a run that forced the closing of the Brainerd State bank, with deposits of approximately $500,000. H. E. Kundert, the cashier, was overcome by monoxide gas while starting his automobile at his home. He is in serious condition and can make no statement. The bank was considered one of the city's foremost financial institutions.
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Article Text
Brainerd (Minn.) Bank Is Closed by State Orders St. Paul, Minn.-The Brainerd State bank with deposits totaling approximately $500,000 and a capital of $500,XIO, was closed following a run on the institution, A. J. Veigel, state superintendent of banks, announced.