gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
08e4be5814a048ed
Response Measures
None
Description
Run was triggered by teller's unexplained absence and alleged shortage; no suspension reported.
Events (1)
1.June 7, 1923Run
Cause
Bank Specific Adverse Info
Cause Details
Reports/rumors of a shortage in the teller's accounts after the teller (John Garlick) left town; alleged shortage later estimated $2,000–$5,000.
Measures
Kept bank open after usual hours and sent to Boston for currency; auditing of books in progress.
Newspaper Excerpt
the run at the Maynard Trust Company at Maynard by depositors ... due to rumors of a shortage resulting from the unexplained absence of the bank teller.
Source
newspapers
Newspaper Articles (10)
1.June 8, 1923The Morning UnionSpringfield, MA
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Article Text
State Banking Officials Are Undisturbed.
BOSTON, June 7—The office of the State Commissioner of Banks was notified today of the run at the Maynard Trust Company at Maynard by depositors of foreign birth, due to rumors of a shortage resulting from the unexplained absence of the bank teller. The incident was not regarded as serious, the cash withdrawals being small in comparison with the resources of the institution.
The information transmitted to the commissioner was that the shortage found after the departure of the teller, who left Maynard last Saturday, was small and covered by bonds.
2.June 8, 1923New Britain HeraldNew Britain, CT
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Article Text
BANK TELLER LEAVES TOWN In Consequence, Many Depositors Ask Maynard, Mass.. Institution to Turn Over Their Funds-Run Is Ended. Maynard Mass., June 8.-A few depositors called for their money at the Maynard Trust Co. soon after the bank opened for business today but the run which led the officials to keep open after the usual hours yesterday and to send to Boston for currency, appeared to be over. President George H. Creighton said that examination of the books to determine the alleged shortage in the accounts of the teller, John Garlick. who has left town. probably would not be completed before tomorrow. He said that any shortage would be covered by bond and that the bank would suffer no loss.
3.June 8, 1923Fitchburg SentinelFitchburg, MA
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Article Text
Run On Maynard Bank Appears To Be Over
MAYNARD, June 8—A few depositors called for their money at the Maynard Trust Co. soon after the bank was opened for business today, but the run which led the bank to keep open after the usual hours yesterday and to send to Boston for currency appeared to be over.
President George H. Creighton said that examination of the books to determine the alleged shortage in the accounts of the teller, John Garlick, who has left town, probably would not be completed before tomorrow. He said that any shortage would be covered by bond and that the bank would suffer no loss.
Garlick has not been located. He was last seen in Boston early in the week.
4.June 8, 1923Record-JournalMeriden, CT
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Article Text
Rumored Shortage Causes Bank Run
Mass. Bank Beset On Rumor That Missing Teller's Accounts Were Short
Maynard, Mass., June 7. — The unexplained absence since Saturday of the teller of the bank and a rumor that there was a large shortage in his accounts led to a run on the Maynard Trust company today. Throughout the day depositors, largely of foreign birth, crowded the banking room demanding their money, and the offices were kept open until six o'clock to accom-
5.June 8, 1923Morning SentinelWaterville, ME
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Article Text
BOSTON, June 7.—The office of state commissioner of banks was notified today of a run on the Maynard Trust Co., at Maynard by depositors of foreign birth, due to rumors of a shortage resulting from the unexplained absence of the bank teller. The incident was not regarded as serious, the cash withdrawals being small in comparison with the resources of the institution.
6.June 9, 1923Springfield Evening UnionSpringfield, MA
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Article Text
Ask Warrant for Bank Teller.
MAYNARD, June 9—Officials of the Maynard Trust Company today asked for a warrant in the District Court at Concord for the arrest of John Garlick, teller, who has been missing since June 2. A run on the bank occurred on Thursday when it was reported that there was shortage of between $2000 and $5000. Auditing of the bank's books is now in progress.
7.June 10, 1923Hartford CourantHartford, CT
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Article Text
WARRANT FOR TELLER WHOSE BOOKS ARE OFF
Maynard, Mass., June 9.—Officials of the Maynard Trust Co. today asked for a warrant in the district court at Concord for the arrest of John Garlick, teller, who has been missing since June 2. A run on the bank occurred on Thursday when it was reported there was a shortage of between $2,000 and $5,000. Auditing of the bank's books is now in progress. George H. Creighton, president of the bank, has stated that he did not believe a shortage of more than $5,000 existed. The bank is protected by a bond.
8.June 11, 1923The Birmingham Age-HeraldBirmingham, AL
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Article Text
BANK TELLER MISSING Over $3,000 Shortage Found-Warrant Issued MAYNARD, Mass., June 10.-Fallure to find John Garlick, missing teller of the Maynard Trust company, has resulted in the issuance of a warrant for his arrest. He is charged with embezzlement following the discovery of a shortage of between $3,000 and $5,000 in his accounts. The young teller's downfall is attributed to high living and gay parties in Boston cafes. His disappearance a week ago caused a run on the savings department of the bank, which ended only after many depositors had withdrawn their savings. Young Garlick's father has given assurance that he will make good the amount for which his son is responsible.
9.June 12, 1923New Britain HeraldNew Britain, CT
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Article Text
RETURNS FOR ARREST Maynard. Mass 8 June 12-Jahn Garlick fermer teller at the Maynard Trust company. who disappeared June 2. was arrested last night at his home here. He was charged with larceny of $5,000 from th trust company, and held in $10,000 ball. After Garlick left town reports of a shortage led to a one-day run on the bank Bank officials estimated the shortage in the teller's accounts at about $5,000, It was said that the bonding company will prefer another complaint when the former teller is arraigned in Cancord district court to.
MISSING MAYNARD TELLER RETURNS FROM ELM CITY
BOSTON, June 11.—John Garlick, former teller at the Maynard Trust company in Maynard, whose disappearance and reports of a shortage in his accounts led to a one-day run on the bank last week, arrived here today with the announced intention of going to Maynard to give himself up to the police. The bank had applied for a warrant for his arrest on a charge of larceny. President George A. Creighton of the bank estimated the alleged shortage at not more than $5,000, which he said would be covered by Garlick's bond.
Garlick came here from New Haven, Conn., by automobile.
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.
