gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b0ab53947a7792c6
Response Measures
None
Description
The bank suspended immediately upon news of the president's suicide; a run/panic followed the closure, and the bank was placed in receivership.
Events (3)
1.November 11, 1910Receivership
Newspaper Excerpt
Following the suicide today of F. Schas, president of the Continental Savings bank of this city, a receiver was tonight appointed to take charge of the affairs of the bank.
Source
newspapers
2.November 11, 1910Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suicide of the bank president, F. D. M. Schas.
Newspaper Excerpt
The Continental Savings bank immediately closed its doors when the news of Mr. Schas' death became punlic.
Source
newspapers
3.November 12, 1910Run
Cause
Bank Specific Adverse Info
Cause Details
Panic and clamoring for funds following the news of the president's suicide and the bank's closure.
Newspaper Excerpt
The bank closed its doors immediately after the suicide of Schas, and there was a clamoring of depositors for their money
Source
newspapers
Newspaper Articles (14)
1.November 12, 1910El Paso HeraldEl Paso, TX
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Article Text
Memphis, Tenn., Nov. 12.-Following the suicide of F. D. M. Schas, president of the Continental Savings bank of this city, Hudson Cary was last night appointed receiver of the institution. The petitions asking the appointment of a receiver was filed by attorney's representing the board of directors, who allege that the bank was insolvent. The bank had a capital of $50,000 and the deposits, according to its last statement, were nearly $450,000. Tomorrow Drink a quart of El Paso Dairy milk,
MEMPHIS SAVINGS BANK IN HANDS OF RECEIVER Special to the EVENING NEWS. Memphis, Tenn., Nov. 12: The Continental Savings Bank was today placed in the hands of a receiver following the suicide yesterday of its president, D. S. Schas. Hundoon Carey was named receiver. The institution has deposits of $600,000.
3.November 12, 1910The Birmingham Age-HeraldBirmingham, AL
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Article Text
SUICIDE OF BANKER BRINGS RECEIVERSHIP Memphis, November 11.--Following the suicide today of F. Schas, president of the Continental Savings bank of this city, a receiver was tonight appointed to take charge of the affairs of the bank. Hudson Cary, a local attorney, was appointed receiver. The death of Mr. Schas was attended with sensational incidents. He repaired to the main pavilion of Overton park about noon today and swallowed poison. The banker then attempted to kill himself by plunging a knife into his throat. He then fired a pistol ball through his head, dying instantly. Friends of the dead banker believe he was mentally unbalanced. They assert that no reason is known for the act. The Continental Savings bank immediately closed its doors when the news of Mr. Schas' death became punlic. Officials say the dead president's accounts are in good shape.
4.November 12, 1910The Times DispatchRichmond, VA
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Article Text
Receiver Appointed for Bank. Memphis, Tenn., November F1-Following the suicide to-day of F. Schas, president of the Continental Savings Bank, of this city, a receiver was tonight appointed to take charge of the affairs of the institution. Hunsdon Cary, a local attorney, was appointed receiver.
5.November 12, 1910Los Angeles HeraldLos Angeles, CA
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Article Text
RECEIVER FOR BANK APPOINTED MEMPHIS, Nov. 11.-Following the suicide today of F. M. D. Schas, president of the Continental Savings bank of this city, Hudson Cary was tonight appointed receiver of the institution.
6.November 12, 1910Rock Island ArgusRock Island, IL
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Article Text
RECEIVER IS NAMED FOLLOWING SUICIDE President of Memphis Bank Believed by His Friends to Have Been Insane. Memphis, Tenn., Nov. 11.-Following the sensational suicide yesterday of D. F. M. Schas, president of the Continental Savings bank of this city, Hudson Gary was appointed receiver to take charge of the institution. Schas went to the main pavilion of Overton park about noon and swallowed poison Immediately after this he plunged a knife into his throat. He then fired a pistol bail through his head. Death resulted instantly. Friends of the banker believe he was mentally unbalanced. They assert that no reason is known for his act. The bank immediately closed its doors when news of Schas' death became public. Officials said the dead president's accounts are in good shape.
7.November 12, 1910The Cairo BulletinCairo, IL
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Article Text
MEMPHIS BANK IS IN RECEIVER'S HANDS Memphis, Nov. 11.-Following ⑆ suicide today of F. B. Schas, president of the Continental Savings Bank of this city, Hudson Cary was tonight appointed receiver. The petitioners say the bank is insolvent. The bank had a capital stock of $150,000. and deposits, according to the last state ment of about $150,000.
8.November 12, 1910Alexandria GazetteAlexandria, VA
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Article Text
Bank in Receiver's Hands. Memphis, Tenn., Nov. 12.-The Continental Savings Bank, of this city, was placed in the bands of a receiver today on petition of the directors. Action was taken before the suicide of President D. F. Schas, who killed himself yestorday while demented, in order to prevent a run on the institution. Hundoon Carey was named as the receiver. The bank had a paid-in capital of $25,000-and a surplus of $273,110, while the deposits total $600,000.
9.November 12, 1910Alexandria GazetteAlexandria, VA
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Article Text
Bank in Receiver's Hands. Memphis, Tenn., Nov. 12.-The Continental Savings Bank, of this city, was placed in the bands of a receiver today on petition of the directors. Action was taken before the suicide of President D. F. Schas, who killed himself yesterday while demented, in order to prevent a run on the institution. Hundoon Carey was named as the receiver. The bank had a paid-in capital of $25. 000 and a surplus of $273,110, while the deposits total $600,000:
10.November 12, 1910The Marion Daily MirrorMarion, OH
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Article Text
Memphis Banker Commits Suicide. Memphis, Tenn., Nov. 12.-Francis M. Schas, president of the Continental Savings bank of Memphis, committed suicide. The body was found in Averton park. No cause for the act is ascribed, but the bank officials decided to place the institution in the hands of a receiver.
11.November 12, 1910The Washington TimesWashington, DC
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Article Text
BANKER KILLS SELF; DEPOSITORS IN PANIC Memphis Financier Drinks Poison, Cuts His Throat, and Fires Bullet Into Head. MEMPHIS, Tenn., Nov. 12.-Officials of the Continental Savings Bank declared today that the accounts of Prestdent D. F. M. Schas, president of the institution, who ended his life in a tragic manner yesterday afternoon, are in good condition. The bank closed its doors immediately after the suicide of Schas, and there was a clamoring of depositors for their money, but their fears were groundless, according to friends of the dead man. Going to the main pavilion of Overton Park, Schas first swallowed a quantity of poison, then stabbed himself in the throat, and completed the self-destruction by firing a pistol ball through his head. It is believed today he was insane, as no motive has been discovered.
12.November 16, 1910The Abbeville Press and BannerAbbeville, SC
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Article Text
Tennesee Bank Gone to the Bad. Memphis, Tenn.-Following the suicide of F. Schas, president of the Continental Savings bank of this city, a receiver has been appointed to take charge of the affairs of the institution. Hunsdon Carey, a local attorney, was appointed receiver. The petition asking the appointment of a receiver was filed by altorneys representing the board of directors. who alleged that the bank was insolvent.
13.November 16, 1910The Hattiesburg NewsHattiesburg, MS
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Article Text
Memphis—Directors of the Continental Savings Bank, whose president D. C. Schas suicided Friday, have had the bank placed in the hands of a receiver.
14.December 5, 1910The Alaska CitizenFairbanks, AK
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Article Text
TAKESTHREEROADS TO DEATH BANKER MAKES SUICIDE CER. TAIN BY POISON, SLASHING THROAT AND SHOOTING. MEMPHIS, Tenn., Nov. 11. - E. F. M. Schas, president of the Continental Savings bank and a widely known financier, committed suicide by shooting today. The death of Mrs. Schas was attended with sensational incidents. He repaired to the main pavilion of Overton park and swallowed poison. He then plunged a knife into his throat and fired a pistol ball through his head, dying instantly. Friends of the dead banker believe he was mentally unbalanced. The Continental Savings Bank closed its doors when the news of Mr. Schas' death became public. Officials say the president's accounts are in good shape. Following the suicide today of E. F. M. Schas, president of the Continental Savings Bank of this city, Hudson Cary was tonight appointed receiver of the institution. The petition asking the appointment of a receiver was filed by atorneys representing the board of directors who allege that the bank was insolvent. The bank had a capital of $50,000 and the deposits. according to its last statement, were nearly $450,000.
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.
