Brooklyn Bank (New York, NY)

Episode Information

Episode UID
9836340891556
Episode Type
Run Only
Bank Type
state
Bank ID
983634089 hash
Start Date
August 16, 1929
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
587979ffe33cc1d4

Response Measures

None

Description

Articles contain OCR glitches but clearly describe a short-lived run driven by false rumors; no suspension reported.

Events (1)
1. August 16, 1929 Run
Cause
Rumor Or Misinformation
Cause Details
False rumors circulated (including a rumor about the death of 'Lewis' and other false reports) that prompted depositors to withdraw funds.
Measures
Extra tellers were brought in and cash paid out quickly; depositors subsequently returned funds.
Newspaper Excerpt
Depositors of Brooklyn Bank End Run ... began today to put their money back.
Source
newspapers

Newspaper Articles (3)
1. August 15, 1929 The Jersey Journal Jersey City, NJ
Article from The Jersey Journal, August 15, 1929

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Article Text

BROOKLYN BANK (Continued) money in advance by the false ruWarned officials prepare. big truck they brought cash they had had Company, they tellers, tellers handed out money fast could. amount was paid bank officials not said, until the bank closed for the The false rumors that there bank, believed the in circulated stitution tried money and began to circulate most widely circulated rumor that Lewis, the dead, started the run. had gone buncle removed from his by wire and arrived at the yesterday. Peter Smith, torney the bank, said man bank and wanted $16,000 collateral, he turned have been told that he went and mounced that tried to borrow bank but been money our because we have able get believe that that statement about the but we complete investigation and make Bank officials first heard of the the run out money Joseph Broderick, State tendent Mr Broderick letter. stating had stitution condition, posted at the bank trance. But failed to prevent the The bank is no danger on account the officials asserted. Its sources and has had surplus help from the Brooklyn Trust the Bank America, and Duffy, personal friend wealthy head Duffy Co., contractors.

2. August 17, 1929 The Morning Press Bloomsburg, PA
Article from The Morning Press, August 17, 1929

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Article Text

PUT MONEY BACK Depositors of Brooklyn Bank End Run York, Aug. 16. who became excited day rumors that there the bank and started actual run, began today to put their money back. Although bank officials opened the 7:30 with extra tellers all prepared continue twenty depositors were withdraw money. By depositors had nearly withdrawn yesterday. continued coming back throughout banking hours.

3. October 23, 1929 Brooklyn Eagle Brooklyn, NY
Article from Brooklyn Eagle, October 23, 1929

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Article Text

Charles M. Higgins. Prominent for third century the civic life of Brooklyn, Charles M. Higgins, pioneer ink manufacturer, kindly employer, earnest advocate improved transit, energetic reformer several lines, persistent publicist and controversialist and enthusiastic amateur in the study of Brooklyn's history, passes away at the He was native of Ireland and had by inheritance at once heart pugnacity that compelled attention. In the bank troubles that followed the panic of 1907 Mr. Higgins was salient figure. He had been big depositor the Borough Bank and in the Brooklyn Bank. The panic came while the of consolidating these instituprocess tions with the International Trust Company, which had bought the old Evening Post Buildat Broadway and Fulton street, Manhating incomplete. All three banking concerns closed, and Attorney General Jackson promptly named two receivers for each them, six though the interests involved identical, thus bringing about remarkstate confusion. Mr. Higgins who, his expense, originally made the fight against what was being done with the BrookBank and as result appointed co-receiver That he saved great deal waste for depositors think, undeniable. An unshrinking foe of compulsory vaccination in the schools, Higgins clashed with Superintendent and with the health authorities. Free had an epistolary warfare with Catholic layman, largely conducted in The Eagle's columns, in 1905, over the nature of religion and of the deity. His offers of prizes for the best poems the Battle of Long Island will be remembered. He was one the founders of the Kings County Historical Society, an honored member the Old Brooklynites and active in half dozen other organizations. He will not be forgotten in the Borough of Brooklyn.