The April Fool Archive

Run on Bank    (April Fool's Day - 1903)

The Atlanta Constitution - Apr 5, 1903

On April 2, almost half the depositors of the Chicago bank of Kaspar & Karel lined up outside its front door, demanding to withdraw their money. The mass withdrawal of funds, almost $200,000 by the end of the day (all that the bank had on hand), nearly caused the institution's collapse. The cause of the run was traced to a false rumor that had circulated the day before alleging that the bank was in serious financial difficulty. Exactly who started the rumor isn't clear, but it apparently had been intended as an April Fool prank. Some sources claim that the rumor was begun by a milkman who had jokingly told a woman on his route that Kaspar's was closing, knowing that the woman had funds in the bank.

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