Historical Events tagged with "trust company"
Turns out history loves a label—battles, breakthroughs, and the occasional disaster, all neatly tagged for your browsing pleasure. Because sometimes you just need every weird invention in one place.
Economics & Industry
Knickerbocker Trust Company Run Causes Panic
October 22nd, 1907 117 years ago
A sudden withdrawal of funds from the Knickerbocker Trust Company triggered widespread panic in the financial markets. Investors rushed to sell their stocks, fearing that the company would collapse due to insufficient liquidity. On October 22, 1907, reports of the run spread quickly, sparking a crisis of confidence in banks across the nation. Set in New York City, this financial turmoil highlighted vulnerabilities in the banking system and set off a chain reaction that prompted a broader economic downturn.
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