gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c2e41d21a55d0bc4
Response Measures
None
Events (1)
1.March 24, 1922Run
Cause
Rumor Or Misinformation
Cause Details
False rumors and anonymous letters alleging the bank was unstable/insolvent; clearinghouse and Federal Reserve later declared the rumors false.
Random Run
Yes
Random Run Snippet
False rumors/anonymous letters claimed insolvency; clearinghouse called rumors false
Measures
Paid out money as fast as possible; special police detail deployed to control crowd.
Newspaper Excerpt
A special detail of 25 policemen with rifles was called today to control thousands of persons who besieged the Northwestern Trust & Savings Bank to withdraw deposits, following a false rumor that the condition of the institution was unstable.
Source
newspapers
Newspaper Articles (10)
1.March 24, 1922Richmond Daily RegisterRichmond, KY
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Article Text
NEEDLESS RUN ON CHICAGO BANK (By Associated Press) Chicago. Mar. 24-A special detail of 25 policement with rifles was called today to control thousands of persons who besieged the Northwestern Trust & Savings Bank to withdraw deposits, following a false rumor that the condition of the institution was unstable. The bank's resources are $20,000,000; deposits $18,000000. ,A'reward of $5,000 was offered'for identification of the person responsible for the rumors. The bank is declared the strongest in Chicago.
2.March 24, 1922Casper Daily TribuneCasper, WY
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Article Text
WOMEN CRUSHED IN BIG RUN ON CHICAGO BANK False Rumors Regarding Finances Start Run on Northwestern Trust & Savings Institution and Many Are Trampled CHICAGO, March 24.-Several women were crushed and trampled in a scramble of depositors of the Northwestern Trust & Savings bank on the northeast side of Chicago this morning. The run was said to have resulted from false rumors concerning the bank's financial strength. Bank officials were paying out money as fast as the depositors could be served and other
3.March 24, 1922The Seattle StarSeattle, WA
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Article Text
BLAME ANIMUS FOR BANK RUN CHICAGO, March 24. - The at. tempted run on the Northwestern Trust & Savings bank, in which hundreds of foreign born desopitors stormed the Institution and demanded their money, was laid to a plot today. Enemies of John F. Smulski, former state treasurer and president of the bank, wrote anonymous letters, causing the panic, investigators claim.
4.March 24, 1922Every Evening, Wilmington Daily CommercialWilmington, DE
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Article Text
BANK DEPOSITORS IN RUN. By Associated Press to Every Evening Chicago, March 24.-A special detail of twenty-five police, armed with rifles was callett upon today to control thousands of persons who besteged the Northwestern Trust and Savings Bank to withdraw their deposits following a false rumor that the condition of the institution was unstable
5.March 24, 1922Richmond Daily RegisterRichmond, KY
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Article Text
NEEDLESS RUN ON CHICAGO BANK (By Associated Press) Chicago. Mar. 24-A special detail of 25 policement with rifles was called today to control thousands of persons who Desieged the Northwestern Trust & Savings Bank to withdraw deposits, following a false rumor that the condition of the institution was unstable. The bank's resources are $20,000,000; deposits $18,000000. A'reward of $5,000 was offered for identification of the person responsible for the rumors. The bank is declared the strongest in Chicago.
6.March 24, 1922Imperial Valley PressEl Centro, CA
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Article Text
CHICAGO, March 24.-The attempted run on the Northwestern Trust and Savings Bank, in which hundreds of foreign born depositors stormed the institution and demanded their money, was laid to a plot today. Enemies of John F. Smulski, former state treasurer and president of the bank, wrote anonymous yetters, causing the panie, investigators claimed.
7.March 25, 1922Norwich BulletinNorwich, CT
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Article Text
FALSE RUMOR CAUSED RUN ON CHICAGO BANK Chicago, March 24.-A special detail of twenty-five police, armed with rifies was called upon today to control thousands of persons who besiaged the Northwestern Trust and Savings Bank to withdraw their deposits following a false rumor that the condition of the institution was trustable.
8.March 29, 1922The Watchman and SouthronSumter, SC
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Article Text
Chicago, March 24.-A police detail was required to control the thousands of depositors who besieged the Northwestern Trust and Savings Bank in a run started by false rumors.
9.March 31, 1922Clearwater RepublicanOrofino, ID
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Article Text
2000 Storm Bank in Run. CHICAGO, III.Pickpockets plying their trade in a crowd of 2000 depositors who stormed the Northwestern Trust and Savings bank Friday following circulation of rumors that the bank was insolvent, robbed two aged women of their savings of a lifetime. The clearing house and federal reserve bank both issued statements declaring the bank is sound and the rumors false.
10.April 7, 1922The Mellette County PioneerWhite River, Wood, SD
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Article Text
False Rumors Start Run. Chicago.-Several women were crushed and trampled in a scramble of depositors of the Northwestern Trust and Savings bank, on the north. west side of Chicago. The run was said to have resulted from false rumors concerning the bank's financial strength.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
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Northwestern Trust & Savings Bank · UID 2004271467
