How A Panic In Manhattan Caused A Bank Failure In Manhattan
By EsqSocial Corporation 19/04/21
In October 1907, F. Augustus Heinze and Charles W. Morse tried, but failed, to corner the copper market, only to be out maneuvered by John Rockerfeller. Mr. Heinze was president of the National Commercial Bank of New York and the depositors began a run on the bank. Although initially curbed, the panic soon spread to the trust companies, including the Knickerbocker Trust. Eventually, the speculations of these two men resulted in a global economic crisis and economic depression. ...
By: Allen Matkins