gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
25bc6a7cff4fd6ba
Response Measures
None
Events (1)
1.November 26, 1929Run
Cause
Rumor Or Misinformation
Cause Details
Unfounded rumors that the bank had suffered losses in the recent stock market decline led depositors to withdraw funds.
Measures
Bank paid depositors on application, stated it had plenty of cash on hand; local banks offered to purchase deposit books at face value.
Newspaper Excerpt
Rumors that the Woonsocket Institution for Savings had suffered losses in the recent stock market decline started a run on the institution here today.
Source
newspapers
Newspaper Articles (10)
1.November 27, 1929Messenger-InquirerOwensboro, KY
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Article Text
PEOPLE START RUN ON RHODE ISLAND BANK
Woonsocket, R. I., Nov. 27 (P)Rumors that the Woonsocket Institution for savings had suffered losses in the recent stock market decline started run on the institution here Tuesday. Although of ficials of the bank denied the reports and the state bank commissioner said the bank was sound financially, the run continued up to closing time. When the bank closed it was amnounced that It would be open as usual this morning and those who wished to withdraw their funds would be able to do SO. Bank offi cials said they would have plenty of money on hand to meet the demands.
2.November 27, 1929The Evening JournalWilmington, DE
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Article Text
RUN CONTINUES
Nov. run on the Woonsocket Institution of Savings, which began yesterday, continued today. About 50 were waiting in line depositors when the doors and others opened constantly joined them All were upon application and the awais were made without any the which prevailed yesterday. large amount of cash was brought here during the night replenish the bank's ready currency Bank offiexpressed willingness to meet all applications and assured their depositors that the stitution was financially Two banks renewed offers made yesterday to purchase all deposit books of the institution face value
LANGLEYS HAVE BAG OF SILVER DOLLARS PIKEVILLE Ky., Mrs. John Langley ex-congressman and his have bag of dollars. It was presented constituents at their silver wedding anniversary Langley wore the which was married.
Woonsocket Savings Bank Run Continues Woonsocket, R. I., Nov. 27 (AP) A run on the Woonsocket Institution of Savings which began yesterday continued yesterday. About 50 depositors were waiting in line when the doors opened and others constantly joined them. All depositors were paid upon application and the withdrawals were made without any of the excitement which prevailed yesterday. A large amount of cash was brought here during the night to replenish the bank's ready currency. Two local banks renewed offers made yesterday to purchase all deposit books of the institution at face value.
4.November 27, 1929Evening StarWashington, DC
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Article Text
BANK IS HELD SOUND AS RUN IS STARTED Rival Institutions in Rhode Island Town Refused to Accept Deposits. By the Associated Press. WOONSOCKET, R. I., November 27. -Rumors that the Woonsocket Institution for Savings had suffered losses in the recent stock market decline started a run on the institution here yesterday. Although officials of the bank denied the reports and the State bank commissioner said the bank was sound financially, the run continued up to closing time. When the bank closed it was announced that it would be open as usual in the morning and those who wished to withdraw their funds would be able to do so. Bank officials said they would have plenty of money on hand to meet the demands. Most of those who withdrew their money went to the branches of the Rhode Island Hospital Trust Co. and the Industrial Trust Co., to deposit their withdrawals. Officials of both banks refused to take the money. telling the depositors to return their funds to the Woonsocket Institution. The headquarters of the Hospital Trust and the Industrial Trust in Providence also offered to purchase all deposit books of the Woonsocket Bank at their face value. They said that they would hold the books and that if the depositors wanted to repurchase them they could do 80 without loss on interest.
WOONSOCKET, R. I., Nov. 26. (AP)—Rumors that the Woonsocket Institution for Savings had suffered losses in the recent stock market decline started a run on the institution here today, although officials of the bank and the State bank commissioner said the bank was sound financially the run continued up to the closing time.
Hundreds formed a line into the bank seeking to withdraw their savings but it was an orderly crowd. When the bank closed it was announced that it would be open as usual in the morning and those who wished to withdraw their savings would be able to do so. Bank officials said they would have plenty of money on hand to meet the demands.
6.November 27, 1929Lincoln Journal StarLincoln, NE
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Rumor at Woonsocket, But Plenty of Money to Pay All. mors that Institution for Savings had suffered losses in the recent stock market decline started run on the institution here Tuesday. Altho officials the bank denied the reports state bank commissioner said the bank was sound nancially, the run continued up to closing time. When bank closed announced that would be open usual in the morning those who wished withdraw their funds would be able do Bank officials said they would have plenty money hand meet demands. Most of those who withdrew their money went the branches of the Rhode Island hospital Trust company Industrial Trust company deposit their drawals. Officials of both banks refused to take the money, telling the return their funds the Woonsocket institution.
7.November 27, 1929The North Adams TranscriptNorth Adams, MA
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Article Text
Woonsocket, Nov. run on the Woonsocket institution savings virtually today and the majority those visited the to called instead to withdraw statement from officials showing nancial soungness the much reassure allowed re-deposit without of interest.
RUMORS OF STOCK LOSS CAUSE OF RUN ON BANK
WOONSOCKET, R. I., Nov. 26 (AP).—Rumors that the Woonsocket Institution for Savings had suffered losses in the recent stock market decline started a run on the institution here today. Although officials of the bank denied the rumors and the state bank commissioner said the bank was sound financially, the run continued up to the closing time.
Hundreds formed an orderly line into the bank seeking to withdraw their savings. When the bank closed it was announced that it would be open as usual tomorrow.
INDICT WIFE AND LOVER AS HER MATE'S SLAYERS
CHICAGO, Nov. 26 (AP).—True bills charging murder were reported voted by the county grand jury today against Samuel Howard Dorr, insurance agent, and Mrs. Genevieve O'Brien, his para-
9.November 27, 1929The JournalMeriden, CT
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RUN ON
Woonsocket. Nov. run on the Woonsocket tion Savings which began yesterday continued today. About 50 waiting the and others stantly joined them. All paid and the made without any of the which prevailed large amount cash was brought during the night to replenish bank's Two banks made purchase deposit books of face value.
10.November 28, 1929The Springfield Daily RepublicanSpringfield, MA
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RUN ON RHODE ISLAND BANK VIRTUALLY ENDS Woonsocket, R. I., Nov. 27-(AP) -The run on the Woonsocket Institution for Savings was virtually at an end today and most of those who visited the bank, according to officials, called to re-deposit instead of to withdraw funds. statement from bank officials attesting the financial
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.
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Woonsocket Institution For Savings · UID 57006271559
