1907day.year
A run on the stock of the Knickerbocker Trust Company sets events in motion that will spark the Panic of 1907.
A sudden run on the Knickerbocker Trust Company in New York signals a looming financial crisis.
On October 22, 1907, depositors rushed to withdraw funds from the Knickerbocker Trust Company.
This run sparked panic throughout Wall Street as banks and trust firms faced severe liquidity shortages.
Stock prices tumbled amid fears of a wider banking collapse.
Financier J. P. Morgan intervened to shore up the market, highlighting the absence of a central regulatory authority.
The turmoil ultimately led to calls for systemic banking reform and the foundation of the Federal Reserve System.
1907
Knickerbocker Trust Company
Panic of 1907