Article Text
New Haven, Conn.-Rumors, which were denounced as ridiculous by officers of the bank, started a run on the New Haven Savings Bank, the second largest savings institution in the State.
New Haven Savings Bank (New Haven, CT)
Episode Information
- Episode UID
51001171363- Episode Type
- Run Only
- Bank Type
- savings
- Bank ID
-
5100117routing - Routing Number
51-0011- Start Date
- July 18, 1913
- Location
- New Haven, Connecticut (41.308, -72.928)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
471912a1adbf5779
Response Measures
None
Description
Run driven by a specific misstatement by solicitors that was identified in reports.
Events (1)
1.
July 18, 1913
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Malicious/ill-worded statements by solicitors (dropped an 's'), leading public to believe the bank was unsound.
- Random Run
- Yes
- Random Run Snippet
- solicitors' ill-worded statement dropped 's', implying bank unsound
- Measures
- Paid depositors as presented; issued statements affirming soundness; allowed redeposited funds to continue drawing interest.
- Newspaper Excerpt
- A run on the New Haven Savings bank...Depositors were paid as fast as they presented their books.
- Source
- newspapers
Newspaper Articles (10)
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Article Text
Causeless Run on New Haven Bank. NEW HAVEN, Conn., July 19.-A run on the New Haven Savings Bank, considered one of the strongest institutions in the city, occurred yesterday. Depositors were paid as fast as they presented their books. The officials of the bank say it is able to meet all Indebtedness and has a large surplus available.
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RUN ON NEW HAVEN BANK Institution Pays Depositors as Fast as They Present Books NEW HAVEN, Conn., July 18.-A run on the New Haven Savings bank, considered one of the strongest institutions in the city, occurred today. Depositors were paid as fast as they presented their books.
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Article Text
RUN ON BANK CONTINUED. Force of the Scare in New Haven, However, Has Decreased. NEW HAVEN, Conn., July 19. The run on the New Haven Savings bank, which began yesterday, was continued today, but with decreasing force. A large crowd of depositors was on hand when the institution opened this morning. Several priests were in the crowd among their parishioners assuring them that there was no cause for alarm, and Mayor Rice made a speech to the crowd along the same lines. These efforts apparently had their effect, as many fell out in the line and left the bank.
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RUN ON BANK WANES. State Officer Holds New Haven Concern is Safe. NEW HAVEN, Conn., July 19.-The run on the New Haven Savings Bank which began yesterday continued today, but with decreasing force. A large number of deposits were made and some of those who had withdrawn their savings put them back again. State Bank Commissioner Lippitt issued a statement affirming the safety of the institution.
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Article Text
RUN ON SAVINGS BANK IS STOPPED New Haven, Conn., July 21-Conditions at the New Haven Savings Bank on which there was a run last Friday and part of Saturday were principally normal this morning, it was stated at the bank. Many of those who drew out their money last week put it back again. This return movement was increased by an announcement from the bank that all such deposits made today would continue to draw interest as if they had not been taken out. Mrs. Otto Theis of 174 West Water street reported to the police Saturday that $200 which she drew out of the New Haven Savings bank on Friday was. stolen from a sugar bowl in her pantry. The police have been expecting a number of thefts of money from some of the depositors who withdrew their money and hid it in their homes.
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Article Text
Conditions at the New Haven savings bank on which there was a run last Friday and part of Saturday are practically normal.
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Article Text
That run on the New Haven Savings bank seems to have been due to a rumor started maliciously or'as a consequence of illworded assertions by solicitors for a new bank. Malicious starting of a run on a bank, when there is no good reason to suspect the bank's soundness, has been made a pentitentiary offense by one of the laws enacted by the last general assembly. - Bridgeport Standard.
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RUN ON BANK. New Haven Savings Institution Vic. tim of Absurd Rumor. New Haven.-Thousands of dollars were withdrawn from the New Haven Savings Bank-regarded as one of the strongest banks in the state-in an allday run on the institution. The bank paid all depositors promptly and issued several statements, declaring that the bank was sound and that there was no cause for alarm. The rumor affecting the bank start. ed in an unfortunate manner, as the result of over-zealousness on the part of solicitors seeking deposits for a bank that has started a savings department. Its solicitors stated that National banks are more solid than New Haven savings banks and the public cut off the letter "s" and construed the statement to mean that the New Haven Savings Bank was not solid.
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Article Text
RUN ON BANK. New Haven Savings Institution Vic+ tim of Absurd Rumor. New Haven.-Thousands of dollars. were withdrawn from the New Haven Savings Bank-regarded as one of the strongest banks in the state-in an allday run on the institution. The bank paid all depositors promptly and issued several statements, declaring that the bank was sound and that there was no cause for alarm. The rumor affecting the bank start+ ed in an unfortunate manner, as the result of over-zealousness on the part of solicitors seeking deposits for a bank that has started a savings department. Its solicitors stated that National banks are more solid than New Haven savings banks and the public cut off the letter "s" and construed the statement to mean that the New Haven Savings Bank was not solid.