gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0b1b0321b65596d0
Response Measures
Borrowed from banks or large institutions
Description
Run was prompted by discovered embezzlement by clerks; liquidity assistance from Seaboard Bank met withdrawals.
Events (3)
1.April 9, 1880Chartered
Source
historical_nic
2.March 6, 1886Run
Cause
Bank Specific Adverse Info
Cause Details
Discovery/arrest of clerks (Christie/King) for embezzling large sums, prompting withdrawals.
Measures
$200,000 provided by the Seaboard Bank of New York to meet withdrawals.
Newspaper Excerpt
There was a slight run on the First National bank to-day, which was promptly met by $200,000 from the Seaboard bank, New York.
Source
newspapers
3.March 2, 1918Voluntary Liquidation
Source
historical_nic
Newspaper Articles (10)
1.March 6, 1886The Indianapolis JournalIndianapolis, IN
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Article Text
Bank Clerks Charged with Embezzlement. PITTSBURG March 5.-Thomas Christian and James King, clerks in the First National Bank of Bradford, Pa., have been arrested on a charge of embezzling $60,000 from that institution, most of which was lost in oil speculation. King had charge of the individual accounts and Christian of the correspondence and remittances. They went into collusion and invented an ingenious system of cooking the accounts, whereby drafts were issued on fictitious parties and credits made to appear much smaller than they really were. This has been kept up since last July. A large amount of currency has been laid by in anticipation of a run to-morrow. The young men are well connected. They are imprisoned in a hotel in Bradford, in default of bail. They have confessed to the cashier, and will assist in straightening the books. At the exchange yesterday 400,000 barrels of oil were bought in for their account.
2.March 7, 1886New-York TribuneNew York, NY
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Article Text
RUN ON A DEFRA UDED BANK. BRADFORD, Penn., March 6.-There was a slight run on the First National Bank to-day, which was promptly met by $200,000 from the Seaboard Bank of New-York, The examination of the defaulters, Christie and King, was set for Thursday. Huntley and Johnson, under arrest, are prepared to defend themselves against the accusation of collusion with the clerks.
3.March 7, 1886St. Paul Daily GlobeSaint Paul, MN
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Article Text
Run on a Bank. BRADFORD, Pa., March 6.-There was a slight run on the First National bank today. which was promptly met by $200,000 from the Seaboard bank, New York. The examination of the defaulters, Christie and King, was put over to Thursday. Huntley and Johnson, under arrest. are prepared to defend the accusation of collusion with the clerks.
4.March 7, 1886The Indianapolis JournalIndianapolis, IN
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Article Text
Slight Run on a Bank. BRADFORD. Pa., March 6.-There was a slight run on the First National Bank to-day, which was promptly met by $200,000 from the Seaboard Bank, New York. The examination of the defaulters, Christie and King, was put over to Thursday. Hugtley and Johnson, who are under arrest, are prepared to defend the accusation of collusion with the clerks.
5.March 7, 1886St. Paul Daily GlobeSaint Paul, MN
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Article Text
Run on a Bank. BRADFORD, Pa., March 6.-There was a slight run on the First National bank today, which was promptly met by $200,000 from the Seaboard bank, New York. The examination of the defaulters, Christie and King, was put over to Thursday. Huntley and Johnson, under arrest, are prepared to defend the accusation of collusion with the clerks.
6.March 8, 1886The Daily TelegraphMonroe, LA
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Article Text
BRADFORD, PA., March 8.-There was a slight run on the First National Bank Saturday, which was promptly met by $200,000 from the Seaboard Bank of New York. The examination of the defaulters, Christie and King, was put over to Thursday. Huntley and Sohnson, under arrest, are prepared to defend the accusation of collusion with the clerks.
7.March 8, 1886The ArgusRock Island, IL
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Article Text
A Nice Lot of Thieves. BRADFORD, Pa., March 8.-Thomas Christie, aged 21, and Horatio King, age 20, clerks in the First National bank here have been arrested for embezzling $50,000 from that institution, most of which they lost in speculation. The bank will lose about $40,000. The balance of the deficiency can be realized. A large amount of currency has been laid in in anti ipation of a run. King and Christie confessed their crime to the cashier and are assisting him in finding fraudulent entries.
8.March 12, 1886The Bolivar BulletinBolivar, TN
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Article Text
ON the 5th eight of the Hyde Park (Lon. don) rioters were sentenced to penal servitude for terms ranging from one to five years. THE total amount appropriated by the Naval bill as referred to the committee on naval affairs is $13,685,000. THE British Foreign office has consented to make room for a number of Turkish officers in the Egyptian army, displacing British officers. ON the 7th a mass-meeting of Mormon women assembled at Salt Lake City to protest against federal interference with polygamy. A CONFERENCE at Berlin has been proposed by the Russian Government to fix the terms of Bulgarian unity. THE Government suits against the Bell Telephone Company are expected to be be= gun this week, probably at Columbus, O. THE State Department has received information that affairs are quiet on the Samcan Islands, and that the recent report of an attempt on the part of Germany to seize the islands arose from a purely private controversy between the German Consul and the local authorities. NEARLY eleven hundred employes of the Studebaker wagon and carriage works at South Bend, Ind., stopped work on the 6th on account of the refusal of the company to grant an increase in wages. ON the morning of the 6th the word of command was given, and nearly five hundred employes of the Missouri Pacific shops in St. Louis quit work. The order also called out the shop hands at all other points where shops of the Gould system are located. It was said that on the 8th the command would be made to include roadmen all along the system. THE permanent annexation of Burmah, under the sovereignty of Queen Victoria, has been proclaimed by Commissioner Bernard, granting general amnesty, except to notorious rebel leaders, Dacoits and murderers of Europeans. ON the 6th there was a slight run on the First National Bank of Bradford, Pa., which was promptly met. THE French Senate on the 6th adopted the Madagascar treaty. FIFTY Sioux Indian girls have recently entered the Wabash (Ind.) school.
9.March 12, 1886Weekly Commercial HeraldVicksburg, MS
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Article Text
A Run on a National Bank. BRADFORD, PA., March 6.-There was a slight run on the First National bank to"day, which was promptly met by $200,000 from the Seaboard Bank of New York. The examination of the defaulter, Christie and King, was put over to Thursday. Huntley and Sohnson, under arrest, are prepared to defend the accusation of collusion with the clerks.
10.March 13, 1886The Milan ExchangeMilan, TN
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Article Text
FIFTY Sioux Indian girls have recently entered the Wabash (Ind.) school. MARQUIS TSENG has left the Chinese diplomatic service and has become the chief of the Chinese Admiralty. JEM SMITH, the champion pugilist of En. gland, whom Sullivan is aching [not] to meet, was given a benefit at St. James' Hall, London. on the night of the 6th, at which he was presented with a championship belt worth $15,000. THERE was a slight run on the First National Bank of Bradford, Pa., on the 6th, which was promptly met. A FIRE at Akron, O., on the 6th, which started in Fred. Schumacher's oatmeal mills, caused a loss, before being subdued, estimated at $1,000,000. THE French Senate on the 6th adopted the Madagascar treaty.
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.
