gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
86569d2ee7cb025d
Response Measures
None
Events (1)
1.October 26, 1903Run
Cause
Rumor Or Misinformation
Cause Details
False rumors the bank had been investing in railroad stocks (and related rumors about dishonoring checks) triggered heavy withdrawals.
Measures
Bank paid withdrawals; receiving teller accepted deposits from local business men; police kept order; bank reported ample cash on hand.
Newspaper Excerpt
False rumors that the officers of the GermanAmerican bank were promoting a railroad caused a run on that bank today which resulted in drawing out $150,000.
Source
newspapers
Newspaper Articles (10)
1.October 27, 1903The Saint Paul GlobeSaint Paul, MN
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Article Text
Bank Is Victim of Rumors. LA "CROSSE, Wis., Oct. 26.-False rumors that the officers of the GermanAmerican bank were promoting a railroad caused a run on that bank today which resulted in drawing out $150,000. Many of the depositors are laborers and farmers. It is thought the run will be over by tomorrow. The bank has plenty of money.
2.October 28, 1903Watertown RepublicanWatertown, WI
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Article Text
FRANTIC RUN ON LA CROSSE BANK. German-American Is Known to Be Sound Yet Rumors Frighten Many Women and Farmers. La Crosse, Wis., Oct. 26.-[Special.]A small run was started upon the German-American bank Saturday by a rumor that the bank had been investing in railroad stocks. The run was continued this morning, many farmers coming in as early as 7 o'clock, and by 10 o'clock, when the bank opened, the streets were lined with depositors, a majority being women, all clamoring to get in when the doors opened. Only the efforts of the police detail kept many from being injured by crushing and trampling. At times today there have been 200 people in line. The receiving teller, however, has had a very busy time of it. taking deposits made by La Crosse business men, who know the institution is sound. The bank has over $300,000 in sight on its counters. The women in many cases have been frantic in their efforts to get at the paying teller's window, actually fighting their way, in many instances crying and wringing their hands. It is learned today that besides the false railroad rumor, there was a rumor started that the bank was unsound because of its refusal to honor checks paid the farmers by a local concern which has gone out of business and has no deposits there. The bank is considered sound by all conservative business men and many are drawing money from other banks to help the GermanAmerican, although the latter has not asked aid.
3.October 29, 1903Iowa County DemocratMineral Point, WI
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Article Text
RUN ON A LA CROSSE BANK. Sound, Yet Rumors Frighten Many Women and Farmers. La Crosse, Wis., Oct. 27.-A small run was started upon the GermanAmerican tank by a-rumor that the bank had been investing in railroad stocks. The run was continued yesterday morning, many farmers coming in as
4.November 2, 1903Vilas County NewsEagle River, WI
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Article Text
HOLD UP LA CROSSE FARMERS. Knowing of Run on Bank Thugs Become Bold. La Crosse, Oct. 28.-Herman Schwiffel was held up and robbed in broad daylight by four masked men heavily armed, the attack being made four miles east of the city. The robbers knew of the run on the German-American bank and knew that many farmers were taking their deposits home. All they got from Schwiffel, however, so far as reported, was a small sum of money and his watch. The robbers attempted to hold up a couple in a buggy also, but the men showed fight and another buggy appeared. The highwaymen jumped on a train and went east It is thought they are a portion of the gang which has been working through Minnesota.
5.November 2, 1903Vilas County NewsEagle River, WI
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Article Text
RUN ON A LA CROSSE BANK. Sound, Yet Rumors Frighten Many Women and Farmers. La Crosse, Wis., Oct. 27.-A small run was started upon the GermanAmerican bank by a rumor that the bank had been investing in railroad stocks. The run was continued yesterday morning, many farmers coming in as
6.November 6, 1903Eagle River ReviewEagle River, WI
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Article Text
ALL OVER THE STATE ITEMS OF INTEREST IN BADGER. DOM. Farmer Held Up by Highwaymen-No State Taxes This Year-Disastrous Attempt to Corner Cheese MarketCouple Convicted of Robbery. Herman Schwiffel was held up and robbed in broad daylight by four masked men heavily armed, the attack being made four miles east of La Crosse. The robbers knew of the run on the GermanAmerican Bank and knew that many farmers were taking their deposits home. All they got from Schwiffel, however, so far as reported, was a small sum of money and his watch. The robbers attempted to hold up a couple in a buggy also, but the men showed fight and another buggy appeared. The highwaymen jumped on a train and went east. It is thought they are a portion of the gang which has been working through Minnesota.
7.November 10, 1903Rock Island ArgusRock Island, IL
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Article Text
Female Bandit Follows Trade in Garb of Man La Crosse, Wis., Nov. 10.-A woman Mrs. Boatcher was caught by Herbandit. who operates in man's cloth- man Pralle, a farmer, who arrived ing, has been captured. She is Mrs. home unexpectedly, and found his Bertha Boatcher, and she has conpremises being robbed by a man who fessed. For several weeks many thefts had a wagon and team. When a light have been reported and since the run was turned on it was found the prison the German-American bank, when oner was Mrs. Bertha Boatcher, who lives about three miles from Pralle's many farmers drew out their money and have since been keeping it at farm. She was sent to the county home, three holdups have taken place. jail for 30 days.
8.November 10, 1903Wausau PilotWausau, WI
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ALL OVER THE STATE ITEMS OF INTEREST IN BADGER. DOM. Farmer Held Up by Highwaymen-No State Taxes This Year-Disastrous Attempt to Corner. Cheese MarketCouple Convicted of Robbery. Herman Schwiffel was held up and robbed in broad daylight by four masked men heavily armed, the attack being made four miles east of La Crosse. The robbers knew of the run on the GermanAmerican Bank and knew that many farmers were taking their deposits home. All they got from Schwiffel, however, so far as reported, was a small sum of money and his watch. The robbers attempted to hold up a couple in a buggy also, but the men showed fight and another buggy appeared. The highwaymen jumped on a train and went east. It is thought they are a portion of the gang which has been working through Minnesota.
9.November 11, 1903Grant County HeraldLancaster, WI
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Article Text
ALL OVER THE STATE ITEMS OF INTEREST IN BADGER. DOM. Farmer Held Up by Highwaymen-No State Taxes This Year-Disastrous Attempt to Corner Cheese MarketCouple Convicted of Robbery. Herman Schwiffel was held up and robbed in broad daylight by four masked men heavily armed, the attack being made four miles east of La Crosse. The robbers knew of the run on the GermanAmerican Bank and knew that many farmers were taking their deposits home. All they got from Schwiffel, however, so far as reported, was a small sum of money and his watch. The robbers attempted to hold up a couple in a buggy also, but the men showed fight and another buggy appeared. The highwaymen jumped on a train and went east. It is thought they are a portion of the gang which has been working through Minnesota.
10.November 11, 1903Vernon County CensorViroqua, WI
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Article Text
# ALL OVER THE STATE
ITEMS OF INTEREST IN BADGER-DOM.
Farmer Held Up by Highwaymen-No State Taxes This Year-Disastrous Attempt to Corner Cheese Market-Couple Convicted of Robbery.
Herman Schwiffel was held up and robbed in broad daylight by four masked men heavily armed, the attack being made four miles east of La Crosse. The robbers knew of the run on the German-American Bank and knew that many farmers were taking their deposits home. All they got from Schwiffel, however, so far as reported, was a small sum of money and his watch. The robbers attempted to hold up a couple in a buggy also, but the men showed fight and another buggy appeared. The highwaymen jumped on a train and went east. It is thought they are a portion of the gang which has been working through Minnesota.
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.