First National Bank (Duquesne, PA)

View Charter #4730 on SPMC View balance sheet

Episode Information

Episode UID
473001247
Episode Type
Run Only
Bank Type
national
Bank ID
47300 national
Charter Number
4730
Start Date
November 14, 1903
Location
Duquesne, Pennsylvania (40.381, -79.860)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
09034e8a125323e2

Response Measures

Accommodated withdrawals, Capital injected

Other: Employed private detectives to trace and prosecute originators of malicious rumors; merchants came to the bank's aid and replaced most withdrawn funds.

Events (2)
1. April 20, 1892 Chartered
Source
historical_nic
2. November 14, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
Maliciously circulated stories among foreign mill workers that the bank was in trouble.
Measures
Employed detectives to trace origin of reports; merchants came to the bank's aid and much of the withdrawn funds was replaced.
Newspaper Excerpt
Believing stories were circulated against their institution among the foreigners in the mills with malicious intent, the directors of the First National Bank have employed detectives to learn the origin of reports that resulted in a run on the bank.
Source
newspapers

Newspaper Articles (2)
1. November 15, 1903 The Washington Times Washington, DC
Article from The Washington Times, November 15, 1903

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Article Text

DUQUESNE INSTITUTION INVESTIGATES A RUN DUQUESNE, Pa., Nov. 14.-Believing stories were circulated against their institution among the foreigners in the mills with malicious intent, the directors of the First National Bank have employed detectives to learn the origin of reports that resulted in a run on the bank. Tuesday afternoon a total of about $40,000 was withdrawn from the bank. most of which was replaced yesterday. The merchants, when they heard of the run, came to the bank's ald.

2. November 17, 1903 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, November 17, 1903

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Article Text

RUN ON A BANK Said to Have Been Started Through Malice- Officials Trying to Run Guilty Ones to Earth. Pittsburg Nov. 13-A run was started on the First National bank of Duqnesne, several days ago. The bank officials employed detectives to ascertain who started talk about the bank's condition so as to prosecute them for maliciousness. During the run last Tuesray afternoon, $40,000 was taken by foreigners. In the mad rush one woman left her baby at home to get her money. Returning she found her baby drowned in wash tub. a