gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
91f53db853c1122c
Response Measures
Accommodated withdrawals, Public signal of financial health
Description
Newspaper spelling uses 'Pittsburg' and refers to Allegheny location; no suspension reported.
Events (3)
1.May 17, 1875Chartered
Source
historical_nic
2.February 19, 1901Run
Cause
Rumor Or Misinformation
Cause Details
False and unfounded rumors triggered frightened depositors to withdraw large sums.
Measures
Bank remained open (including staying open on Washington's birthday) and cashed checks; cashier stated funds available and offers of assistance received.
Newspaper Excerpt
Unfounded rumors caused a run on the German National Bank of Allegheny today during which $180,000 was paid out.
Source
newspapers
3.November 19, 1934Voluntary Liquidation
Source
historical_nic
Newspaper Articles (10)
1.February 20, 1901The Morning AstorianAstoria, OR
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Article Text
RUN ON ALLEGHENY BANK. Unfounded Rumors Cause Depositors to Draw Out $180,000. PITTSBURG. Feb. 19.-Unfounded rumors caused a run on the German National Bank of Allegheny today during which $180,000 was paid out. Cashier Helms said tonight that every demand would be met promptly tomorrow or any day within an hour's notice as, he says, they have $2,000,000 on hand for payment.
2.February 20, 1901Wheeling RegisterWheeling, WV
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Article Text
RUN ON A BANK. PITTSBURG, Pa., February 19.-False and unfounded rumors caused a run on the German National Bank of Allegheny to-day, during which $180,000 was paid out to frightened depositors. The excitement at one time during the afternoon was intense, causing almost a panic and giving the police all they could do to prevent an outbreak.
3.February 21, 1901Daily Inter MountainButte, MT
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Article Text
WILL WORK ON HOLIDAY. To Give Fearful Depositors Chance to Withdraw Money. Pittsburg, Feb. 21.-The run on the German National Bank of Allegheny, which began Tuesday afternoon is practically over. Only a few depositors were on hand when the bank opened today. In order that all who desire may have an opportunity to withdraw their money, however, the bank will remain open tomorrow (Washington's birthday).
RUN ON A PITTSBURG BANK DIES OUT AS QUICKLY AS IT AROSE. PITTSBURG, Pa., Feb. 21-The run on the German National bank at Allegheny, which began last week, ended today. When the doors opened this morning, instead of depositors demanding their money, many appeared to redeposit.
5.February 21, 1901Bryan Morning EagleBryan, TX
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Article Text
Run on B Bank. Pittsbarg, Feb. 20. -False and unofficial rumors caused a run on the German National bank of Allegheny Tuesday during which $680,000 was paid out to frightened depositors. The excitement at one time was intense causing almost a panic and giving the police all they could do to prevent an outbreak. Every check was cashed.
6.February 21, 1901Deseret Evening NewsSalt Lake City, UT
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Article Text
Run on Bank Over. Pittsburg, Feb. 21.-The run on the German National bank of Allegheny, which began Tuesday afternoon is practically over. Only a few depositors were on hand when the bank opened today. In order that all who desire may have an opportunity to withdraw their money, however, the bank will remain open tomorrow (Washington's birthday).
7.February 22, 1901Wheeling RegisterWheeling, WV
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Article Text
PITTSBURG, Pa., February 21.-The run on the German National Bank, of Allegheny. is practically over. That all may have an opportunity to withdraw the institution will remain open to-morrow, Washington's birthday.
8.February 22, 1901Bryan Morning EagleBryan, TX
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Article Text
The Run Over. Pittsburg, Feb. 21.-The run on the German National bank of Allegheny which began Tuesday afternoon is now practically over.
9.February 22, 1901The SunWilmington, DE
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Article Text
Run on Bank Subsiding. Pittsburg, Feb. 21.-The run on the German National bank of Alleghany is practically over. Only a few despositors were on hand for their money when the bank opened its doors, and at no time was the crowd large. The bank has received many telegrams from financial institutions in Chicago, New York, Philadelphia and other cities offering assistance.
10.February 26, 1901The Stark County DemocratCanton, OH
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Article Text
Run on German Bank Ends. News-Democrat Leased Wire Service. Pittsburg, Feb. 22.-The run on the German National bank, of Allegheny, is apparently over, and today there are
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.