RUN ON BANK IN DRENCHING RAIN IS MADE In the City of Pittsburg by Foreigners as Result of False Rumors. (BY ASSOCIATED PRESS) PITTSBURG, Jan. 29.-The run on the Farmers Deposit Savings Bank which 'began this afternoon when excited foreigners crowded into the institution demanding their money, reached large proportions late today. A force of twenty-five policemen kept in line the hundreds of depositors, who stood in a drenching rain. Until the regular Saturday night closing hour every demand was met in full, the bank waiving its right of notice. A statement was issued tonight by the bank's officers and confirmed by the clearing house committee saying that the institution "is perfectly sound and strong in resources and cash." The run was declared to be inspired by rumors having no basis in fact. The bank has 20,000 depositors and on January 12 last it reported to the state banking commissioner deposits of $6,395,252.
2.January 31, 1916The Oklahoma City TimesOklahoma City, OK
Click image to open full size in new tab
Article Text
BASELESS RUN ON BANK CONTINUES PITTSBURGH, Jan. 31.-Officials of the Farmers Deposit Savings bank on which H run was started Saturday and resumed Monday morning. announced Monday that persons responsible for baseless rumors concerning the bank's condition would be prosecuted The law covering such CRSBA provides maximum penalties of $5.000 fine and five years Imprisonment When the bank opened at 9 a m Monday 3,000 persons had been Uned up by fours by a score of policemen. Bank officials said they had plenty of money on hand to meet every demand and as soon us the doors opened extra tellers began paying all who appeared
3.January 31, 1916South Bend News-TimesSouth Bend, IN
Click image to open full size in new tab
Article Text
BANK RUN CONTINUES Officials Offer Reward For Person Who Started Rumor. International News Service: PITTSBURGH, Pa., Jan. 31.-The run on the Farmers' Deposit Savings bank, started Saturday by the circulation of rumors that the bank was in financial difficulties, continued today. Crowds that gathered before the bank were so great that police reserves were necessary. Throughout the morning depositers were paid off steadily. Five thousand dollars reward was offered today by the bank's officials for the arrest of the person or persons who started what they term "the malicious report." One hundred dollars is offered for the arrest of persons circulating the report.
4.February 1, 1916The Topeka State JournalTopeka, KS
Click image to open full size in new tab
Article Text
BANK MEETS HEAVY RUN Offers Reward of $5,000 to Find Out Who Started It. Pittsburg, Pa., Feb. 1.-The run which began Saturday on the Farmers Deposit Savings bank was still on today, although the crowd had dwindled to less than a thousand. All demands were promptly paid. A reward of $5,000 offered by the bank for the apprehension and conviction of the persons who started the run had much to do with quieting the excited people.
5.February 1, 1916Harrisburg TelegraphHarrisburg, PA
Click image to open full size in new tab
Article Text
Run on Pittsburgh Bank Continues; $5,000 Reward By Associated Press Pittsburg, Pa., Feb. 1. - The run which began Saturday on the Farmers' Deposit Savings Bank and was continued throughout yesterday was still on to-day, although the crowd of several thousand anxious depositors had dwindled to less than 1,000. A reward of $5,000. offered by the bank for the apprehension and conviction of the persons who started the run, had much to do with quieting the excited people.
6.February 1, 1916The Washington HeraldWashington, DC
Click image to open full size in new tab
Article Text
RUN ON BANK CONTINUES. Pittsburgh Officials Offer $5,000 for Source of "Malicious Report." Pittsburgh, Pa., Jan. 81.-The run on the Farmers' Deposit Savings Bank, started Saturday by the rumors that the bank was in financial difficulties, continued today. The crowds before the bank were so great that police reserves were called out. Throughout the morning depositors were paid off steadily. The bank officials today offer a reward of $5,000 for the arrest of those who started what they term "the malicious report."
Native eggs, 33c doz. Russell Bros. RUN ON BANK. Pittsburgh, Feb. 1.-The run which began Saturday on the Farmers' Deposit Savings bank was still on today. The crowd of depositors was less than a thousand. All demands were promptly paid, but persons who sought to place their money in other banks met with decisive refusal.
RUN ON BANK CONTINUES. Pittsburgh, Feb. 1-The run which began Saturday on the Farmers' Deposit Savings Bank, was still on today. The crowd of depositors was less than a thousand. All demands were promptly paid but persons who sought to place their money in other banks met with decisive refusal.
9.February 4, 1916Atlanta Semi-Weekly JournalAtlanta, GA
Click image to open full size in new tab
Article Text
RUN ON PITTSBURG BANK IS CONTINUED (By Associated Press.) PITTSBURG, Pa., Feb. 1.-The run which began Saturday on the Farmers' Deposit Savings bank was continued throughout yesterday and was still on today. although the crowd of several thousand anxious' depositors had dwindied to less than a thousand. All demands were promptly paid, but persons who sought to place their money in other banks met with quick and decisive action, bankers refusing to accept deposits if the money could be traced to the Farmers' bank.
10.February 21, 1916The Alaska Daily EmpireJuneau, AK
Click image to open full size in new tab
Article Text
SEARCH GOES ON FOR PERSON RESPONSIBLE FOR RUN ON PITTSBURGH BANK PITTSBURGH, Pa., Feb. 21.-Off. cials of the Farmers' Deposit Savings Bank, on which a run was started on Saturday last at noon and continued until the bank closed at 9 o'clock Saturday night, announced today that persons responsible for the baseless rumors concerning the bank's condition will be prosecuted under the Pennsylvania law. The law which was passed in 1900 to cover just such cases, provides the miximum punishment penalties of $50.000 fine and five years' imprisonment. Detectives, it was announced, are working on the case, and arrests are expected soon.
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.
