gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9a78f4837c777f6b
Response Measures
None
Description
The run was attributed to rumors following the death of the bank's president in October 1930. While directors expressed hope to reopen, no confirmation of reopening is present in the provided text.
Events (3)
1.January 31, 1931Run
Cause
Rumor Or Misinformation
Cause Details
Rumors circulated following the death of the bank's president, L. L. Swaney, from carbon monoxide fumes in his garage the previous October.
Measures
The bank attempted to realize on assets but was unable to do so quickly enough to meet demands.
Newspaper Excerpt
There had been a run on the bank since Saturday
Source
newspapers
2.February 4, 1931Other
Newspaper Excerpt
The directors said they hoped to reorganize the institution and reopen with a larger capital and surplus.
Source
newspapers
3.February 4, 1931Suspension
Cause
Rumor Or Misinformation
Cause Details
Inability to realize quickly on assets to meet the run triggered by rumors.
Newspaper Excerpt
The Peoples State bank of East Pittsburgh was closed by the state banking department Wednesday.
Source
newspapers
Newspaper Articles (13)
1.September 14, 1930The Charlotte ObserverCharlotte, NC
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Article Text
SLASHES OWN THROAT Leslie, Mich Feb. Faught, 52, bachelor farmer, was taken to a Jackson hospital after slashing his throat with a razor in an attempted suicide Wednesday night A man who lives with Faught called a doctor. Faught has been in ill health.
BANK WILL REOPEN Pittsburgh. Feb. The Peoples State bank of East Pittsburgh was closed by the state banking department Wednesday. There had been a run on the bank since Saturday and inability to realize quickly on assets was announced as the cause for the closing. The bank had capital of $50,000 surplus of $15,000 and assets of about $500,000 The directors said they hoped to reorganize the institution and reopen with a larger capital and surplus.
2.February 4, 1931Wilkes-Barre Times LeaderWilkes-Barre, PA
Article Text
BANK CLOSED
Peoples Bank of East Pittsburgh, closed by the State Banking Department today. There had the bank since Saturday and inability to realize quickly announced as the cause for closing.
3.February 4, 1931Reno Gazette-JournalReno, NV
Article Text
POLICE GUARD CANNON HEARING
Feb. stood guard again secret ing against Bishop James today the Mount Vernon Place Southern Methodist church. The accused prelate arrived on crutches. his family said he "extremely The officer guarding the locked doors allowed no one to enter unless had been inspected and passed by Dr. Shelton, pastor of the church, who stated that he nothing say concerning the charges and their nature might never made The of the will made public the question being whether the justify his citation for next eral of the church in 1934.
Bank Closed Feb. Peoples State Bank of East Pittsburgh closed by the state banktoday. There had run on the bank since Saturday.
4.February 4, 1931The Herald-PalladiumBenton Harbor, MI
Article Text
EAST PITTSBURGH BANK IS CLOSED
PITTSBURGH, Feb. 4-The Peoples State bank of East Pittsburgh closed by the state banking department today. There had been on the bank since Saturday and inability realize quickly on assets was as the cause of the closing.
5.February 4, 1931Public OpinionChambersburg, PA
Article Text
BANK IN PITTSBURGH CLOSED AFTER RUN
Feb. People's Bank of East Pittsburgh closed by State Banking Department today There had bank since urday inability to realize quickly the cause of the closing.
6.February 4, 1931Warren Times MirrorWarren, PA
Article Text
EAST PITTSBURGH BANK IS CLOSED
Pittsburgh, Feb. Peoples State Bank of East Pittsburgh was closed by the state banking department today. There had been on bank since Saturday and inability realize quickly on assets announced the for the closing. Death of Swaney, president, last October believed sponsible for rumors circulated in East Pittsburgh. Swaney found unconscious monoxide fumes in his garage. Examiner Swigert, charge of the bank said the the bond the dead president.
7.February 4, 1931The Times-TribuneScranton, PA
Article Text
STATE BANK CLOSES
Pittsburgh Feb The Peoples State bank of East Pittsburgh was closed by the state banking department There had been the since Saturday and to on as the of the closing
SOLDIER HANGED. Sergeant Stefan whose without blemish until of madness he killed two women postoffice the village where he stationed, was hanged at dawn
County Controller's Report. County Centroller's Report. Vandling 39 213.76 Totals $18,003.93 $1,693.83 Road Special Switzerland the only European Building County Controller's Report Total OF RECEIPTS AND TO NOON JANUARY Funds Receipts County Bridge Road Lands Roads Mountain Machines Totals $643,597.30 EARNINGS OFFICES Harris Gomer Totals $375,422.45
8.February 4, 1931The ExpressLock Haven, PA
Article Text
RUN BRINGS CLOSING EAST PITTSBURGH BANK
Death of President Believed Responsible for Rumors Hope to Reopen Bank
Pittsburgh, Feb. 4. (P).-The People's State Bank of East Pitts burgh was closed by the State Banking Depai tment today had been run on the bank sinca Saturday and inability to realize quickly on assets was announced as the cause for exclosing The death of L.L. Swaney dent of: the Institution ber, WRS believed to be responsi for rumors circulated Pittsburgh Swaney was conscious from carbon: monoxide fumes in his garage. Examiner D. swigert, in charge of the said today the institution lected the $25,000 bond of the dead president. The bank was organized 12 years, ago. It had capital of $50,000 plus of $15,000 and assets about $500,000. The directors said they hoped to reorganize the Institution and reopen with n'larger capi tal and surplus.
9.February 5, 1931Evening StarWashington, DC
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Article Text
RUN CLOSES STATE BANK PITTSBURGH, February 5 (A).-The Peoples State Bank of East Pittsburgh was closed by the State banking department yesterday. There had been a run. on the bank since Saturday and inability to realize quickly on assets was announced as the cause for the closing. The death of L. L. Swaney, president of the institution, last October was believed to be responsible for rumors circulated in East Pittsburgh. Swaney was found unconscious from monoxide fumes in his garage. The bank had capital of $50,000; surplus' of $15,000 and assets of about $500,000. The directors said they hoped to reorganize the institution and reopen with a larger capital and surplus.
10.February 5, 1931The Gettysburg TimesGettysburg, PA
Article Text
CLOSE a small part. Most of only Pittsburgh. Feb. said. deal more bank of East Pittsburgh People's closely with the bishop's personal was closed by the state banking some the last year. There had partment Wednesday. the afternoon the bank since Saturbeen Cannon requested that sion Bishop day and inability to realize quickly and that the hearings speeded up as the assets was announced sessions be held. for the closing.
11.February 5, 1931Evening starWashington, DC
Article Text
RUN CLOSES STATE BANK
PITTSBURGH, February 5 Peoples State Bank of East Pittsburgh was closed by the State banking department yesterday. There had been a run the bank since Saturday and inability to realize quickly on assets was announced as the cause for the closing The death of L. L. Swaney, president of the institution, last October was believed to be responsible for rumors circulated in East Pittsburgh. Swaney was found unconscious from monoxide fumes in his The bank garage. had capital of $50,000; surplus $15,000 and assets of about $500,000. The directors said they hoped to reorganize the institution and reopen with larger capital and surplus.
RUN CAUSES CLOSING.
Bank At East Pittsburgh Taken Over By State.
Pittsburgh, February Peoples State Bank of East Pittsburgh closed by the Banking today. There had bank since Saturday and to quickly on for the The death Swaney, President the last October believed to be rumors circulated in East Pittsburgh Swaney found unconsclous from fumes his garage. The bank had capital of surplus $15,000 and assets of about $500,000. The said they hoped reopen with larger capital surplus.
Company for the erection of new incinerators for the garbage "valid. there evidence of bad the the for the best the Judge Stanley Strudenied an injunction Ralph Tooker suing taxpayer, dismissed his suit. Tooker had charged in his suit that the of the contract had been illegally, for the the Moines Steel Company did not follow did not bid on for the and also did furnish separate upon each its In defense this, City Manager Dykstra, called Assistant City Solicitor Ed Alexander, that the fact that the successful bidder did not bid on ramps was tioned by him, but shown that the bidders invited to bid their own specifications and special types incinerators, the incinbid type which not built for ramp, which taken dump the offal into the but taken care of by the dirt for which there no charge, ramps needed. As the not being accompanied by certified checks or bonds of per cent, where several bids were one bond deemed ficient for all, as they wordonly bid could be cepted, the bond surety that bid which was cepted. Court by Judge John Peck. for the successful bidder. Judge announced decision from the bench soon the hearing and Attorney Edward Strasser, for Tookgave notice of an appeal to the Court Appeals.
13.February 5, 1931The Sacramento UnionSacramento, CA
Article Text
BANK CLOSED AFTER RUN Bank Feb. People's State bank of East PittsZOLLER. Cashier burgh closed the state Sacramento ing department today. There had been run on the bank since Sat-
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.
