gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e11cb5b5c5affbf3
Response Measures
None
Description
One report mentions enforcing the 30-day rule, but bank otherwise remained open and was rescued by deposits.
Events (1)
1.March 12, 1903Run
Cause
Rumor Or Misinformation
Cause Details
False report (canard) that John A. Creighton had withdrawn his support; he reportedly sent $500,000 and local wealthy men added deposits.
Random Run
Yes
Random Run Snippet
Canard reported Creighton withdrew support; he sent $500,000
Measures
Wealthy citizens and local men deposited large sums; bank closed for the day and reopened next morning; one report said the 30-day rule would be enforced.
Newspaper Excerpt
The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is said to have sent a half million dollars to the bank.
Source
newspapers
Newspaper Articles (11)
1.March 13, 1903The Kalispell BeeKalispell, MT
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Article Text
Run is Made Upon the State Savings Bank at Butte Yesterday. THE INSTITUTION WAS IN PERIL All Day, But the Backers of the Concern Made Themselves Busy Rustling New Depositors and Finally Succeeded in Stemming the Tide. Butte, March 12.-On account of depositors withdrew their funds, rumors said to have been absolutely many others made new and large deunfounded. a run was started on the posits, and many business men, to State Savings bank in Butte yestershow their thorough confidence in day morning. and was continued unthe institution and its stability. til the bank closed for the day at 3 placed thousands and thousands of o'clock in the afternoon. After that dollars with the bank while the run hour it seemed to have about spent was in progress. When the bank itself, and the bank was reported by closed for the day. an official anits managers to be in quite as good nouncement was made that it would condition as it was in the morning open as usual at 10 o'clock this mornwhen the run started. While many ing, ready to meet all demands on it.
2.March 13, 1903Daily New DominionMorgantown, WV
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Article Text
Business Men Stop Run on Bank. Butte, Mont., March 13.-A run on the State Savings bank caused no little sensation in financial circles. The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is said to have sent a half million dollars to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000, and at this the excitement subsided. The bank is one of the strongest in the state.
3.March 13, 1903Evening StarWashington, DC
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Article Text
A run on the State Savings Bank at Butte, Mont., was stopped by wealthy citizens coming to the rescue with heavy deposits.
4.March 13, 1903Evening JournalWilmington, DE
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Article Text
Run On Montana Bank. Butte, Mont., March 13.-A run on the State Savings Bank yesterday caused no little sensation in financial circles. The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is said to have sent $500,000 to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000, and at this the excitement subsided.
5.March 13, 1903The Saint Paul GlobeSaint Paul, MN
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Article Text
Short-Lived Bank Run. BUTTE, Mont.. March 12.-There was a run on the State Savings bank today, caused by a canard that John A. Creighton, the Omaha millionaire, who is pres-
6.March 13, 1903The Kalispell BeeKalispell, MT
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Article Text
Heinze's luck stood him in good hand at Butte yesterday, or rather his emphatic courage and rustling ability. His enemies furthered a run on his bank, tne State Savings, and came very near wrecking that institution, but F. Augustus marshaled all his forces and stemmed the flood of disaster, though, according to the dispatches he was hard pressed. Heinze has again clothed himself with the august title of Young Napoleon of finance.
7.March 14, 1903The News & ObserverRaleigh, NC
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Article Text
Run on a Bank at Butte. I (By the Associated Press.) Butte, Mon., March 12.-A run on the State Savings Bank today caused no little sensation in financial circles. The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is said to have sent a half million dollars to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000 and at this excitement subsided. The bank is one of the strongest in the State.
A CANARD RESPONSIBLE. Run on Butte Bank Does Not Injure It Much. Butte, Mont. March 12-A run on the State Savings bank today caused no litthe sensation in financial circles. The run was caused by 8 canard to the effect that John A Crighton. the Omaha millionaire, who is president of the bank, had had withdrawn his support. He is said to have sent half a million dollars to the bank. In addition. local men of wealth rushed in deposits of from $5,000 to $50,000 and at this excitement subsided. The bank is one of the wealthiest in the state.
9.March 17, 1903The Free LanceFredericksburg, VA
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Article Text
Run On Montana Bank. Butte, Mont., March 13.-A run on the State Savings Bank yesterday caused no little sensation in financial circles. The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is said to have sent $500,000 to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000, and at this the excitement subsided.
10.March 18, 1903The New DominionMorgantown, WV
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Article Text
Business Men Stop Run on Bank. Butte, Mont., March 13.-A run on the State Savings bank caused no little sensation in financial circles. The run was caused by a report to the effect that John A. Creighton, an Omaha millionaire, president of the bank, had withdrawn his support. He is said to have sent a half million dollars to the bank. In addition, local men of wealth rushed in deposits of from $5,000 to $50,000, and at this the excitement subsided. The bank is one of the strongest in the state.
11.March 19, 1903The Butler Weekly TimesButler, MO
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Article Text
Run on Butte, Mont., Bank. Butte, March 13.-A run started on the State Savings bank this morning. Pay ments are being made as f ast as the accounts are presented, but the thirty days' rule is to be enforced. The officials claim to be able to meet all demands. The charge is made that the run is the result of a rumor having its origin in politics, the report being that the bank is a heavy backer of Heinze, the mining man, in his was on the Amalgamated Copper company, and that it has not the ability to pay off its depositors.
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.
