gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ba0c070966317fde
Response Measures
None
Events (1)
1.March 23, 1914Run
Cause
Rumor Or Misinformation
Cause Details
Circulation of rumors about the bank's condition (described as rumors by the bank's enemies and unexplained rumor).
Measures
Paid out deposits as requested; handled patrons promptly; received Clearing House endorsement and offers of assistance; provided chairs and refreshments for waiting depositors.
Newspaper Excerpt
Several hundred small depositors were before the German-American Trust Company today noon when the doors opened ... and began drawing out their deposits.
Source
newspapers
Newspaper Articles (10)
1.March 23, 1914The Daily SentinelGrand Junction, CO
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Article Text
SMALL RUN ON DENVER BANK Associated Press Denver, March 23.-Several hundred small depositors were before the German-American Trust Company today noon when the doors opened at 10 o'clock and began drawing out their deposits. President Godfrey Schirmer stated that the situation arose through the circulation of "rumors by the bank's enemies," and that the institution will pay out deposits as rapidly as requested. The Denver Clearing House Association has issued a statement that it "was satisfied of the institution's aid solvency and would give all the needed.
2.March 24, 1914Arizona RepublicanPhoenix, AZ
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Article Text
UNEXPLAINED BANK RUN I [ASSOCIATED PRESS DISPATCH DENVER, March 23.-With - $900,000 cash in the banks and vaults and ai! its securities still undisposed of, the German American Trust company will open its doors tomorrow to meet the third day of an inexplicable run
3.March 24, 1914Alexandria GazetteAlexandria, VA
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Article Text
A run was started at Denver on the German-American Trust Company, no reason being known for the move of several hundred small depositors.
4.March 24, 1914Evening Times-RepublicanMarshalltown, IA
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Article Text
RUN ON BANK ENDS. Denver Institution Pays All Depositors Who Demand Funds. Denver, Colo., March 24-"We have the situation absolutely in hand," declared Godfrey Schirmer. president of the German-American Trust Company, today. discussing the run of yesterday, in which several hundred small savings depositors withdrew their accounts. At noon there was no line in front of the bank. All patrons were handled as they came. Many offers of assistance were received from banks and individuals outside of Denver, one offer coming from Idaho. To all President Schirmer expressed his thanks but informed them that the bank had ample funds to meet all demands.
5.March 24, 1914Las Vegas OpticLas Vegas, NM
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Article Text
BANK HAS FUNDS TO MEET DEMAND GERMAN-AMERICAN TRUST COMPANY IN DENVER IS PAST THE CRISIS Denver, March "We have the situation absolutely in hand," eclared Godfrey Schirmer, president of the German-American Trust company, today, discussing the run of yesterday in which several hundred small sayings depositors withdrew their accounts. Mr. Schirmer said that not one of the checking accounts had been closed out; that at least a dozen depositors today re-deposited the money withdrawn vesterday states there to front of the bank, all patrons being handled inside the doors. Today each of the women patrons was presented with a carnation. As depositors reached the tellers' windows they were informed that their money was absolutely safe, but that if they desired they could have it at once. Many left deposits, while a few with drew their savings. Many offers of assistance were received from banks and individuals outside Denver, one offer coming from Idaho. To all President Schirmer expressed his thanks, but informed them that the bank had ample funds to meet all demands.
6.March 24, 1914The Evening HeraldAlbuquerque, NM
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Article Text
STRAIN ON DENVER TRUST COMPANY IS RELIEVED TODAY [By Leased Wire to Evening Herald.] Denver, March 24.-"We have the situation absolutely in hand," declared Godfrey Schirmer, president of the German-American TrustCo., today, discussing the run of yesterday in which several hundred small savings depositors withdrew their accounts. Mr. Schirmer said that not one of the checking accounts had been closed out, that at least a dozen depositors today re-deposited the money withdrawn yesterday. At noon there was no line in front of the bank. all patrons being handled inside the doors. Today each of
7.March 24, 1914The Daily SentinelGrand Junction, CO
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BANK TROUBLE IN DENVER AT AN END Associated Press. Denver, March 4.-"We have the situation absolutely in hand." said Godfrey Schirmer, president of the German American Trust Company, today in discussing the run on that institution in which several hundred small depositors yesterday withdrew their deposits. Schirmer said that not one checking account had been closed and that at least a dozen savings depositors reopened their accounts today. Many offers of assistance were received from banks and individuals outside of Denver, but to all Schirmer replied that the bank had ample funds to meet the demands.
8.March 26, 1914The Tabor IndependentTabor, SD
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Article Text
DEPOSITORS IN RUN ON BIG DENVER BANK All Are Being Paid and Clearing House Is Convinced of Solvency. Denver, Colo., March 24.-Several hundred small depositors were lined up before the doors of the GermanAmerican Trust company when the doors opened for business at 10 o'clock today and at once began drawing out their deposits. Just before the doors opened, Godfrey Schirmer, president of the institution, declared it is in exceHent condition, adding: "We will pay over money to the depositors as fast as it is requested and meet all demands." The Denver Clearing House association. through J.C. Mitchell, its president, today issued the following statement: "Owing to current rumors relating to the condition of the German-American Trust company, of this city, the Denver Clearing House association, after inquiring into the affairs of the said trust company, is satisfied of its solvency and the Denver Clearing House association is prepared to render such assistance to the said company as will enable it to meet any demands that may be made upon it."
DEPOSITORS IN RUN ON BIG DENVER BANK All Are Being Paid and Clearing House Is Convinced of Solvency. Denver, Colo., March 24.-Several hundred small depositors were lined up before the doors of the GermanAmerican Trust company when the doors opened for business at 10 o'clock today and at once began drawing out their deposits. Just before the doors opened, Godfrey Schirmer, president of the institution, declared it is in excellent condition, adding: "We will pay over money to the depositors as fast as it is requested and meet all demands." The Denver Clearing House association, through J. C. Mitchell, its president, today issued the following statement: "Owing to current rumors relating to the condition of the German-American Trust company, of this city, the Denver Clearing House association, after inquiring into the affairs of the said trust company, is satisfied of its solvency and the Denver Clearing House association is prepared to render such assistance to the said company as will enable it to meet any demands that may be made upon it."
BANK HOST AT RUN Supplies Food and Chairs as it Pays $300,600 Denver, March 23. -The GermanAmerican Trust Company added two new features to bank runs today, when folowing an unexplained rumor, hundreds of the institution's depositors swarmed to its doors to draw their money. The officers of the bank not only provided chairs for the women waiting in the long line, but also distributed sandwiches and tea and coffee when the luncheon hour came around. Godfrey Schirmer, president of the bank. said tonight that approximately $300,600 had been paid out, adding that the bank, which has deposits of $4,673,147, would meet all demands.
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.
