gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e02f6dd30d7d130e
Response Measures
None
Events (1)
1.December 9, 1901Run
Cause
Rumor Or Misinformation
Cause Details
Mistaken impression that City Savings Bank was connected with the Omaha Loan and Trust Company reported in financial difficulty
Measures
Officials displayed large piles of gold on the counters and paid depositors promptly; most deposits were redeposited after noon.
Newspaper Excerpt
a run was started on the City Savings bank this morning under the mistaken impression that it was connected with the Omaha Building & Loan association
Source
newspapers
Newspaper Articles (10)
1.December 9, 1901Daily CameraBoulder, CO
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Article Text
BANK PAID UP. Omaha, Dec. 9-A run was started on the City Savings bank this morning un. der the mistaken impression that it was connected with the Omaha Building & Loan association, an institution said to be in bad shape. Four tellers paid depositors as fast as they presented their books, and by noon the run bad closed and the money was being returned. Vice President Flack declares that the back is ready to meet all demands without notice.
2.December 9, 1901Evening Times-RepublicanMarshalltown, IA
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Article Text
RUN ON A BANK. City Savings Bank at Omaha Distrusted Because of Relation With Trust Company-Plenty of Gold to Pay Depositors. Omaha, Neb., Dev. 9. -There was a considerable number of depositors of the City Savings Bank present to withdraw their money when the doors opened this morning, owing to a misundertstanding, said Vice President Slack, that the Savings bank was connected with the Omaha Loan and Trust Company, which was reported Saturday to be in financial difficulty. Many depositors on learning that the bank had become segregated from the trust company, redeposited their money. The officials were prepared for the run and had great piles of gold on the counters with which to pay the uneasy depositors.
3.December 9, 1901Rock Island ArgusRock Island, IL
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Article Text
DEPOSITORS DRAW THEIR MONEY FROM OMAHA BANK Omaha, Dec. 9.-There was a considerable number of depositers of the City Savings bank present to withdraw their money when the doors opened this morning, owing to a misunderstanding. It was said Vice President Flack, of the savings bank was connected with the Omaha Loan and Trust company, which was reported Saturday to be in financial difficulty. Many depositors on learning the bank was separated from the trust company. redeposited their money. The officials were prepared for a run, and had great piles of gold on the counters with which to pay uneasy depositors.
4.December 10, 1901The St. Louis RepublicSaint Louis, MO
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Article Text
BIG RUN ON AN OMAHA BANK. Mistaken Impression Causes Depositors to Withdraw Money. REPUBLIC SPECIAL. Omaha, Neb., Dec. 9.-A mistaken impression that the City Savings Bank of this city was affected by the difficulties of the Omaha Loan and Trust Company led to a heavy run on the former institution to-day, but stacks of gold piled high around the paying teller, and a quick response to every positor's demand to be paid soon restored confidence. Officers of the savings bank declare that they are in no wise affected by the dimculties of the trust company. and that they have the cash on hand to pay 97 per cent of their deposits, and that in ten minutes they could get as much more gold as they needed. Before the day had ended many of the depositors were returning their money to the bank. A statement of the affairs of the Omaha a Loan and Trust Company is promised in short while.
5.December 10, 1901Ottumwa Semi-Weekly CourierOttumwa, IA
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Article Text
GOLD CHECKS A RUN UNEASY DEPOSITORS WITHDRAW FUNDS. Officials Pile the Yellow Metal on Coun. ters in Sight of Patrons-Omaha Bank in Danger of Run Start ed by Rumor. Omaha, Dec. 9.-There was a considerable number of depositors of the City Savings bank present to withdraw their money when the doors opened this morning, owing to a misunderstanding, said Vice President Flack, that the Savings bank is connected with the Omaha Loan & Trust company which was reported Saturday to be in financial difficulty. Many depositors on learning that the bank had become seggregated from the Trust company re-deposited their money. The officials are prepared for a run and have great piles of gold on the counters with which to pay uneasy depositors.
6.December 10, 1901The Denison ReviewDenison, Dow City, IA
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Article Text
Run on Bank Soon Over. Omaha, De. 10.-Report of the entangled condtion of the affairs of the Omaha Loanand Trust company precipitated an ncipient run on the City Savings bank yesterday. For a few moments afer the opening hour there were a number of accounts withdrawn. Te bank met all demands promptly and the greater part of the money wa returned after noon.
7.December 13, 1901The Denison ReviewDenison, Dow City, IA
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Article Text
Run on Bank Soon Over. Omaha, Dec. 10.-Report of the entangled condition of the affairs of the Omaha Loan and Trust company precipitated an incipient run on the City Savings bank yesterday. For a few moments after the opening hour there were a number of accounts withdrawn. The bank met all demands promptly and the greater part of the money was returned after noon.
8.December 14, 1901The Scranton ChroniclePascagoula, Scranton, MS
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Article Text
PREPARED FOR THE RUN. A Misapprehension Caused a Run On the City Savings Bank of Omaha, Neb., Monday. DEPOSITORS ALL GOT THEIR MONEY. The Run Started Under the Impression That the Bank was Connected With a Concern Which was Reported on Saturday to Be is Financial Difficulty
9.December 18, 1901Vernon County CensorViroqua, WI
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Article Text
Run on an Omaha Bank. There was a run on the recently organized City Savings Bank in Omaha, the published reports of the Omaha Loan and Trust Company's financial distress having caused a general panie among the bank's depositors. Four tellers were employed, and all demands were paid without question.
10.February 11, 1902Omaha Daily BeeOmaha, NE
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Article Text
s e DA3 weC Other Banks Not Affected. There was nothing like a panic at any of the other banks in the city and comparatively few deposits were withdrawn as a result of the excitement. At the Gratlot Avenue branch of the City Savings bank, which drew its deposits (Continued on Fourth Paga.)
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.