9305. Muskegon Savings Bank (Muskegon, MI)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
October 6, 1903
Location
Muskegon, Michigan (43.234, -86.248)

Metadata

Model
gpt-5-mini
Short Digest
8085e7cf

Response Measures

Accommodated withdrawals, Capital injected, Books examined

Description

Small, short-lived run in early October 1903 triggered by an erroneous outside report that multiple directors had resigned. Bank remained open; examiner report and assurances plus offers of support calmed depositors.

Events (1)
1. October 6, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
Erroneous statement in an outside paper that four directors had resigned (rumor that directors quit).
Random Run
Yes
Random Run Snippet
Erroneous outside paper said four directors resigned; proved false.
Measures
President and full board assured depositors funds were sufficient; a resigning director offered several thousand dollars; other banks offered assistance though not needed.
Newspaper Excerpt
There was a small run on the Muskegon Savings bank, owing to an erroneous statement in an outside paper last week that four directors had resigned.
Source
newspapers

Newspaper Articles (4)
1. October 7, 1903 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, October 7, 1903

Click image to open full size in new tab

Article Text

Run on a Muskegon Bank. Muskegon, Mich., Oct. 7.-There was a small run on the Muskegon Savings bank, owing to an erroneous statement in an outside paper last week that four directors had resigned. The run was not very heavy and ceased on the assurance of the president and full board of directors that ther was plenty of money on hand to pay every depositor.

2. October 9, 1903 Alma Record Alma, MI
Article from Alma Record, October 9, 1903

Click image to open full size in new tab

Article Text

A Run on the Bank. Muskegon, Mich., Oct. 6.-Because two of the directors of the Muskegon Savings bank resigned last week and of the rumor that four others had quit, there was a small run by depositors Monday afternoon. The reason given for the resignations is that the majority of the board insisted on keeping open Saturday evenings. Mr. MunΓoe, one of the directors who resigned, when he learned of the run came forward and offered the bank several thousand dollars, to be used if the call assumed larger proportions.

3. October 15, 1903 Belding Banner Belding, MI
Article from Belding Banner, October 15, 1903

Click image to open full size in new tab

Article Text

Run Was Needless. Because two of the directors had resinned land had done 3+ likewise, there was a little run on the Muskegon Savings bank Monday. though the state bank examiner had just made a very flattering report on the institution's condition. The other banks offered to help out in the emergency, but no assistance was needed.

4. October 16, 1903 The Yale Expositor Yale, MI
Article from The Yale Expositor, October 16, 1903

Click image to open full size in new tab

Article Text

Run Was Needless. Because two of the directors had resigned and It was rumored that four others had done likewise, there was a little run on the Muskegon Savings bank Monday, though the state bank examiner had Just made a very dattering report on the institution's condition, The other banks offered to help out in the emergency, but no assistance was needed.