gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
30001a3684066c33
Response Measures
None
Events (1)
1.September 18, 1916Run
Cause
Local Banks
Cause Details
Panic and alarm among depositors following failure/closure of several private banks (including M. Ginsburg & Sons) in the same area.
Measures
Paid out about $50,000 and officials stated the demand of every depositor would be met.
Newspaper Excerpt
Police were called upon today to handle a crowd of depositors who continued a run on the bank of Schiff & Co, despite the assurance of its officials that the institution is solvent.
Source
newspapers
Newspaper Articles (10)
1.September 18, 1916Arizona RepublicanPhoenix, AZ
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Article Text
[Republican A. P. Leased Wire] CHICAGO, Sept. 17. Russians and Poles in Chicago's west side foreign quarter, panic stricken by failure of several private banks, jammed and fought their way today into a state bank in that district and created a run on that institution. The bank was that of Schiff and company, which has more than $2,500,000 in deposits and is believed to be absolutely solvent. Banks in the west side foreign quarters are opened here for a few hours on Sunday. When the Schiff bank opened at 8:30 a. m. a crowd of depositors entered and began withdraw-
2.September 18, 1916The Fargo Forum and Daily RepublicanFargo, ND
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Article Text
RUN ON BANK IN CHICAGO Chicago, Sept. 18.-Police were called upon today to handle a crowd of depositors who continued a run on the bank of Schiff & Co, despite the assurance of its officials that the institution is solvent. The run started yesterday following an alarm resulting from the failure of three private banks last week.
3.September 18, 1916The Daily ArdmoreiteArdmore, OK
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Article Text
CONTINUE RUN ON CHICAGO PRIVATE BANK POLICE CALLED OUT TO HANDLE CROWD OF DEPOSITORS WHO CONTINUE RUN ON PRIVATE BANK OF SCHIFF & COMPANY. Chicago, III., Sept. 18.-The police, were called out to nandle the crowd of depositore who continued a run on the state bank of Schiff & Co. here today, despite the assurance of its officials that the institution is solvent. The run was started because of the alarm among depositors resulting y from the three private bank failures last week The private banks of M. Ginsburg & Sons, which closed Saturday, did n not open today. a
DEPOSITORS IN RUN ON BANKS CLOSING OF PRIVATE INSTITUTIONS AT CHICAGO CAUSE OF MUCH NERVOUSNESS-POLICE CALLED (By Associated Press.) CHICAGO, III.. Sept. 18.-The police today were called to handle a crowd of depositors who continued a run on the bank of Schiff & Co., despite the assurance of its officials that the institution is solvent. The run started yesterday because o falarm spread among depositors as a result of three private bank failures last week. The private bank of M. Ginsburg & Sons, which closed Saturday, did not open today.
5.September 18, 1916Bryan Daily Eagle and PilotBryan, TX
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Article Text
RUN ON BANK CAUSED A RIOT Excited Depositors of Chicago Bank Wanted Money-Could Not Be Reassured by Officers. (By Associated Press) Chicago, Sept. 18.-The police were called to handle the crowd of depositors who continued the run on the state bank of Schiff & Co., despite the assurances of its officers that the institution was solvent. The run started Saturday because of alarm among depositors as a result of three private bank failures last week. The private banks of M. Ginsburg & Sons, which closed Saturday. did not open today.
6.September 18, 1916The Oklahoma City TimesOklahoma City, OK
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Article Text
Run Continued on Bank in Chicago CHICAGO, Sept. 18.-Police were called today to handle the crowd of depositors who continued the run on the state bank of Schiff and company, despite the assurance of its officials that the institution is solvent. The run started because of alarm spread among the depositors as a result of three private bank failures last week. The private bank of M. Ginsburg & Sons, which closed Saturday, did not open its doors today.
7.September 19, 1916Ottumwa Tri-Weekly CourierOttumwa, IA
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Article Text
RUN ON BANK IN CHICAGO RESUMED Chicago, Sept. 18 -Police were called todav to handle the crowd of depositors who continued the run on the state bank of Schiff & Co., despite the assurance of its officials that the institution is solvent. The run started yesterday because of alarm spread among depositors as a result of three private bank failures last week. Officials of the bank said $50,000 was paid out yesterday and that the demand of every depositor would be met. The private bank of M. Ginsburg & Sons, which closed Saturday, did not open its doors today.
8.September 19, 1916The Madison Daily LeaderMadison, SD
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Article Text
Depositors Rush Bank. Chicago, Sept. 19. - Russians nd Poles in Chicago's West Side foreign quarter, panic stricken by failure of several private banks recently, jammed and fought their way into a state bank in that district and created a run on the institution. The bank was that of Schiff & Co., which has more than $2,500,000 in deposits.
9.September 21, 1916The CitizenBerea, KY
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Article Text
STARTS A RUN ON STATE BANK. Chicago.-Russians and Poles in Chicago's West Side foreign quarters. panic-stricken by failure of several private banks, jammed and fought their way into a state bank in that district and created a run on the institution. The bank was that of Schiff & Co., which has more than $2,500,000 in deposits and is believed to be absolutely solvent. Banks in the West Side foreign quarters are opened here for a few hours on Sundays. When the Schiff bank opened a crowd of depositors entered and began withdrawing funds.
STARTS A RUN ON STATE BANK. Chicago.-Russians and Poles in Chicago's West Side foreign quarters, panic-stricken by failure of several private banks, jammed and fought their way into a state bank in that district and created a run on the institution. The bank was that of Schiff & Co., which has more than $2,500,000 in deposits and is believed to be absolutely solvent. Banks in the West Side foreign quarters are opened here for a few hours on Sundays. When the Schiff bank opened a crowd of depositors entered and began withdrawing funds.
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.
