National Bank (New York, NY)

View Charter #9271 on SPMC View balance sheet

Episode Information

Episode UID
927101580
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
92710 national
Charter Number
9271
Start Date
August 22, 1931
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bc589e583379c3e3

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected, Full suspension, Books examined

Description

Articles mention confusion with a similarly named Rockaway bank and reference Corona/Far Rockaway branches.

Events (4)
1. November 11, 1908 Chartered
Source
historical_nic
2. August 22, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Withdrawals attributed to confusion/similarity of bank name with another Rockaway bank leading small depositors to withdraw.
Measures
Directors and officials worked on plans to reopen; merger negotiations reported with Chase and Manufacturers Trust.
Newspaper Excerpt
which closed its doors following three-day its deposits
Source
newspapers
3. August 22, 1931 Suspension
Cause
Government Action
Cause Details
Federal Banking Controller appointed a receiver after the bank closed following a multi-day run.
Newspaper Excerpt
Federal Banking Controller has announced the appointment receiver
Source
newspapers
4. August 25, 1931 Reopening
Newspaper Excerpt
opened today...they would pay everybody their money and that forthcoming Inquiry ... brought forth nothing unusual; opened today.
Source
newspapers

Newspaper Articles (3)
1. August 22, 1931 Brooklyn Eagle Brooklyn, NY

Article Text

Closed Bank Doors Soon, Is Hope May Be Taken Over by Chase, Says Report Harry Heyson, president of the National Bank, which closed its doors following three-day its deposits, today that plans under reopen the institution at an date. Meanwhile the Federal Banking Controller has announced the appointment receiver, but by officials of the closed bank plan for reopening the would worked out bethe receiver would act. Merger Is Rumored was reported today that esentatives from Chase Bank and the Manufacturer's Company had conferred with lirectors of the Rockaway instituand that of the acquisition by either the Manhattan institutions would during the week. The bureau of the Chase would neither conthe rumor. The closing the beach instialso resulted heavy run the National Bank Far RockWilliam Glacken, presiof the Far Rockaway bank, the in names bethe two Rockaway banks was esponsible. Run on Second Bank Mr. Glacken said most withdrawwere made by "small depositors." bank, he said, in sound conThe situation developing over the imilarity names, Glacken said, led directors of the bank that new name be given the Rockaway institution steps bring this about would be taken conditions had been traightened out at the beach bank.

2. August 22, 1931 Brooklyn Eagle Brooklyn, NY

Article Text

Bank Doors Is Hope Soon, Over Taken Be Says Report Chase, of the president Heyson, Bank, which National following its doors closed its deposits, on run arfe under plans institution at an the reopen Federal Banking the announced the apbut was receiver, closed bank of the officials reopening the for worked out bewould be would act. receiver Is Rumored Merger today that repthe Chase from the Manufacturer's and conferred with had Company Rockaway instituthe of the either the by institutions would Manhattan during the coming Chase week. bureau the publicity would neither conthe merger rumor. of the beach insticlosing resulted in heavy run Bank of Far RockNational William J. Glacken, presiFar Rockaway bank, the in names besimilarity Rockaway banks was two Second Bank on said most withdrawby "small depositors." said, is in sound con- stuation developing over the names, Glacken said, directors of the bank to new name be given the and steps this about would be taken as had been out at the beach bank.

3. August 25, 1931 Brooklyn Eagle Brooklyn, NY

Article Text

National Doors PrecedDepositors National Bank over by the taken today, after Currency noon yesteroffice of the the examiner of bank of the bank office Boulevard and Northern branch 108th Ave., Corona. Paid Off Than 100 number the calling the bank Sensing an directors were the they immediand call the During the the until closing time than 100 depositors money and their paid. hour there was closing the bank waiting teller's window bank were closed the the bank were persons half dozen patrolbank from the and after Precinct losed anxious inquirers police call o'clock today when opened. The police from gathering, but groups of men stood on the opposite street and on the same distance from street the situation. discussing Reassured Depositors were number groups women, mostly who they had in the bank. They reassured the the police that the opened today. forthcoming Inquiry sent and directors who room the time closed brought forth the beyond unusual calling for their nothing unusual, would pay everybody their money and that reason fea rthat closed. block of the stock owned persons closely allied with the Trust Company closed Satthe State Bankbank were unable whether that fact caused uneasiness the depositors The officers this fact would in effect upon the welfare institution. Organized by Corona Men Queensboro Bank organlocal business men Most of those who organizing and directors at that are directors of the institution real estate operator president: Paul Roth, Frank W. Yager, supplies dealer, of FlushHarry sash and of Corona, are directors, all residents former Municipal M. Cragen, John Linhard, Charles Ignazio Edward Dr. Wiland Ellis.