Other: This episode does not describe a run, suspension, or reopening; it is an anecdote of small depositors helping the bank during the 1873 panic.
Description
Newspaper accounts (Nov 1873) describe a local panic with small depositors saying they 'had heard the bank wanted money.' This indicates a run/withdrawal panic driven by rumors/misinformation; no suspension, closure, or reopening is reported in the articles. 'Savings Bank' likely indicates a state-chartered savings institution.
Events (2)
1.November 1, 1873Run
Cause
Rumor Or Misinformation
Cause Details
Depositors (including small children) acted after hearing rumors that the bank 'wanted money' during the panic.
Newspaper Excerpt
they had heard the bank wanted money ... deposited fifty cents
Source
newspapers
2.November 6, 1873Run
Cause
Rumor Or Misinformation
Cause Details
Follow-up report repeating that small depositors responded to circulating reports the bank needed funds.
Newspaper Excerpt
they had heard the bank wanted money ... deposited fifty-three cents, also 'to help along the bank.'
Source
newspapers
Newspaper Articles (2)
1.November 1, 1873Essex County HeraldIsland Pond, Guildhall, VT
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Article Text
Helping the Bank. A Reading paper gravely relates the following incident of the panic in that city "Quite a touching affair 00cured in the Reading Savings Bank, which afforded a lesson to some men who were in the bank at the time. Two little boys, each eight or nine years of age, came into the institution and stated to the chashier that they had heard the bank wanted money, and that they had come to give them some. Each had a bank book and fifty cents. The money was duly deposited and the little lads left. Soon thereafter another little boy, accompanied hy his aged grandmother, entered the bank and deposited fifty-three cents, also 'to help along the bank.''
2.November 6, 1873The JeffersonianStroudsburg, PA
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Article Text
Helping the Bank. A Reading paper gravely relates the following incident of the panic in that city: "Quite a touching affair occured in the Reading Savings Bank, which al forded a lesson to some men who were in the bank at the time. Two little boys. each eight or nine years of age, came in to the institution and stated to the chashier that they had heard the bank wanted money, and that they had come to give them some. Each had a bank book and fifty cents. The money was duly deposited and the little lads left. Soon thereafter another little boy, oc companined by his aged grand mother. entered the bank and deposited Gity three cents, also 'to help along the bank."
