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The Panic of 1907 – also known as the 1907 Bankers' Panic or Knickerbocker Crisis – was a financial crisis that took place in the United States over a three-week period starting in mid-October, when the New York Stock Exchange fell almost 50% from its peak the previous year. Panic occurred, as this was during a time of economic recession, and there were numerous runs on banks and trust companies. The 1907 panic eventually spread throughout the nation when many state and local banks and ...
Panic of 1907 Nominator(s): JayHenry The most interesting, in my opinion, of the panics of the National Banking Era. I believe this meets all the criteria and is particularly timely as well.
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The Panic of 1907, also known as the 1907 Bankers' Panic, was a financial crisis that occurred in the United States when the New York Stock Exchange fell close to 50 percent from its peak the previous year. Panic occurred during a time of economic recession, when there were numerous runs on banks and trust companies.
The Panic of 1907, also known as the 1907 Banker's Panic, was a financial crisis in the United States caused by currency shortage in New York trust companies.
PANIC OF 1907. Economic prosperity during the first several years of the twentieth century led to expanded bank credit and rampant speculation in railroad consolidations, western mining ventures, and the coastal shipping industry.
The Panic of 1907 was one of the most significant financial crises in American history. There had been several contributing factors, such as the huge cost of the devastating 1906 San Francisco earthquake , but it was the actions of the Heinze brothers that had caused much of the panic.
The United Copper Company was a short-lived United States copper mining business in the early 20th century that played a pivotal role in the Panic of 1907. United Copper was incorporated in 1902 by F. Augustus Heinze , a copper magnate who had tussled for years with Amalgamated Copper for lucrative copper mines in Butte, Montana .