DEPOSITORS WERE SCARED. Baltimore Failure Caused Runs on Other Banks. Baltimore, Dec. 27-A scare among the timid depositors of several savings banks of the city was the only noticeable result of the failure on Wednesday of the Old Town bank. Runs occurred on nearly all. savings institutions, but the most notable were upon the Savings Bank of Baltimore, City Savings bank and Hopkins Place Savings bank. Crowds of persons were assembled upon the sidewalks in the vicinity of these banks long before banking hours this morning and in each case the doors were opened long before the usual hours in order to accommodate those who wished to withdraw their deposits. In every case claims were promptly satisfied, and in a few instances before the doors were closed late in the afternoon some of those who had received their money had with returning confidence replaced their savings and began new accounts.
2.December 28, 1900The TimesRichmond, VA
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SCARE AMONG DEPOSITORS. Runs Made on Several Banks In Baltimore. (By Associated Press.) BALTIMORE, Dec. 27.-A scare among timid depositors of the several savings banks of the city resulted to-day from the failure, on Wednesday. of the Old Town Bank. Runs occurred on nearly all the savings institutions, but the most noticeable were upon the Savings Bank of Baltimore, the City Savings Bank, and the Hopkins Place Savings Banks. Crowds of persons were assembled upon the sidewalks in the vicinity of these banks long before "bank hours" this morning, and the doors were opened before the usual hour.
3.December 28, 1900The News & ObserverRaleigh, NC
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SCARE AMONG DEPOSITORS. Much Money Withdrawn From Banks Because of the Old Town's Failure. (By the Associated Press.) Baltimore, Dec. 27.-A scare among timid depositors of the several savings banks of the city resulted today from the failure of the Old Town Bank. Crowds of persons were assembled upon the sidewalks in the vicinity of several banks long before "bank hours" this morning, and in each case the doors were opened before the usual hour, in order to accommodate those who wished to withdraw their deposits. In every case the claims were promptly satisfied. President Conkling, of the Savings Bank of Baltimore, said tonight that 617 payments had been made during the day; 330 accounts closed, and the bank paid out $141,521. Deposits amounted to about $20,000. One hundred and thirty accounts amounting to $44,855.40 were closed at the City. Savings Bank. At the Hopkins, which remained open for business until nearly nightfall $50,000 in round numbers were paid to depositors. In no case were the doors closed until all had been accommodated. It is possible that the excitement among the smaller depositors will be continued tomorrow, but bank officials assert that they are prepared for a continued draft upon their treasuries. Judge Stockbridge today appointed J. B. Ramsay co-receiver, to represent the court, of the Old Town Bank. A third receiver will be named on Monday. Neither the American nor Old Town Bank receivers have completed a statement of the condition of the property they represent.
Baltimore Banks Sustain Runs. BALTIMORE, Dec. 28. - A scare among timid depositors of the several savings banks of the city was the only noticeable result of the failure on Wednesday of the Old Town bank. Runs occurred on nearly all the savings institutions, but the most notable were upon the Savings Bank of Baltimore, the City Savings bank and the Hopkins Place Savings bank. Crowds of persons were assembled upon the sidewalks in the vicipity of these banks long before "bank hours" yesterday morning, and in each case the doors were opened before the usual hour in order to accommodate those who wished to withdraw their deposits. In every case the claims were promptly satisfied, and in a few instances before the doors were closed late in the afternoon some of those who had received their money had. with returning confidence, replaced their savings and begun a new account.
5.December 28, 1900The Denison ReviewDenison, Dow City, IA
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Runs on Baltimore banks. Baltimore, Dec. 28.-A scare among the timid depositors of the several savings banks of the city was the only noticeable result of the failure Wednesday of the Old Town bank. Runs occurred on nearly all the savings institutions, but the most notable were upon the Savings Bank of Baltimore, the City Savings bank and the Hopkins Place Savings bank. In every case the claims were promptly satisfied.
6.December 28, 1900The Indianapolis JournalIndianapolis, IN
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Runs. on Savings Banks. BALTIMORE, Dec. 27.-The effect of the embarrassment of the Old Town Bank for which a receiver was appointed late yesterday, was felt in all the savings banks of the city to-day. Throngs of depositors were lined up before the doors. The demands in all cases were promptly complied with. By noon the crowds that had surrounded the banks in the early morning hours, had been accommodated and left and thereafter the banks took on apparently their every day business appearance. President Conkling. of the Savings Bank of Baltimore, said to-night that 617 payments had been made during the day, 330 accounts closed and the bank paid out $141,521. Deposits amounted to about $20,000. One hundred and thirty accounts, amounting to $44,855.40, were closed at the City Savings Bank. At the Hopkins, which remained open for business until nearly nightfall, $50,000, in round numbers, was paid to depositors.
7.December 28, 1900Virginian-PilotNorfolk, VA
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SCARED DEPOSITORS. RESULT OF FAILURE OF THE OLD TOWN BANK. (By Telegraph to Virginian-Pllot.) Baltimore, Md., Dec. 27.-A scare among timid depositors of the several savings banks of the city resulted today from the failure on Wednesday of the Old Town Bank. Runs occurred on nearly all the savings institutions, but the most noticeable were upon the Savings Bank of Baltimore, the City Savings Bank and The Hopkins Place Savings Bank. Crowds of persons were assembled upon the sidewalks, in the vicinity of these banks long before "bank hours" this morning, and in each case the doors were opened before the usual hour, in order to accommodate those who wished to withdraw their deposits. In every case the claims were promptly satisfied. President Conklin, of the Savings Bank of Baltimore, said tonight that 617 payments had been made during the day; 330 accounts closed, and the bank payed out $141,521. Deposits amounted to about $20,000. One hundred and thirty accounts amounting to $44,855.40 were closed at the City Savings Bank. At the Hopkins, which remained open for business until nearly nightfall, $50,000 in round numbers were paid to depositors. In no case were the doors closed until all had been accommodated. It is possible that the excitement among the smaller depositors will continue tomorrow, but bank officials assert that they are prepared for a continued draft upon their treasuries. Judge Stockbridge today appointed J. B. Ramsay co-receiver, to represent the court, of the Old Town Bank. A third receiver will be named on Monday. Neither the American nor Old Town Bank receivers have completed a statement of the condition of the property they represent.
A RUN ON SAVINGS BANKS Baltimore Depositors Become Frightened All Demands Paid Baltimore, December 27.-A scare among timid depositors of. the several savings banks of the city resulted today from the failure on Wednesday of the Old Town bank. Runs occurred on nearly all the savings institutions, but the most noticeable were upon the Savings Bank of Baltimore, the City savings bank and the Hopkins Place savings bank. Crowds of persons were assembled upon the sidewalks in the vicinity of these banks long before "banking hours" this morning, and in each case the doors were opened before the usual hour, in order to accommodate those who wished to withdraw their deposits. In every case the claims were promptly satisfied. President Conkling of the Savings Bank of Baltimore said tonight that 617 payments had been made during the day; 330 accounts closed, and the bank paid out $141,521. Deposits amounted to about $20,000. One hundred and thirty accounts amounting to $44.855.40 were closed at the City savings bank. At the Hopkins, which remained open for business until nearly nightfall $50,000 in round numbers were paid to depositors. In no case were the doors closed until all had been accommodated. It is possible that the excitement among the smaller depositors will be continued tomorrow, but bank officials assert that they are prepared for a continued draft upon their treasuries. Judge Stockbridge today appointed J. B. Mamsay co-receiver, to represent the court, of the Old Town bank. A third receiver will be named on Monday. Neither the American nor The Old Town bank receivers have completed a statement of the condition of the property they represent.
"MILKED" THE BANK FOR $750,000. Milk Producers' Association Touches Balti. more Institution for Huge Sum. Baltimore, Md., December 28.The Old Town Bank, which went into the hands of a receiver late yesterday, was surrounded by a orowd howling for their money until & late hour last night. The bill for a receiver charges that Cashier Theodoro F. Wilcox, without authority and without the knowledge of the directors, allowed the United Milk Producers' Association to draw large sums from the bank. The bank has been the depository of many retail merchants. It has been regarded as a safe institution and the failure was a surprise. Receiver R. L. Gill gave a bond of $1,500,000, indicating a loss of $750,000. The bank is not national. A run is being made on the Savings Bank of Baltimore, the oldest and most solid institution of the kind in the city. The depositors will all be satisfied. A run is also being made on the City Savings Bank. These are the results of the failure of the American National Bank, the Old Town Bank, and the closing of the Economy Savings Bank.
10.January 3, 1901The Butler Weekly TimesButler, MO
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A PANIC IN BALTIMORE. Three Bank Failures Caused Runs on Other Institutions. Baltimore, Md., Dec. 27.-Baltimore saving bank depositors are in the throes of a financial panic as a result of the failure of three banks, the American National, the Old Town bank and the Economy Savings bank. The Old Town bank, the last of the three to go down. went into the hands of a receiver yesterday. When the news got around, a mob surrounded the bank buildingand howled for their money. They kept it up till a late hour, but finally dispersed. This morning the uneasiness which the failures have caused developed into a run on several banks The Savings bank of Baltimore, one of the oldest and most solid institutions of the kind in the city, and the City Savings bank were thronged with depositors, who withdrew their money. All demands were met, and depositors, it is said, will all be satisfied. The panicky feeling isalmostentirely confined to depositors in savings banks.
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.
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