Back to today’s briefing

Story perspectives

Today in History: Knickerbocker Trust Suspends Operations Amid Panic of 1907

10/22/2025

24 6

Summary

Story summary

On October 22, 1907, the Knickerbocker Trust Company in New York suspended operations due to a severe bank run, igniting the Panic of 1907. This financial crisis saw the New York Stock Exchange plummet nearly 50% as widespread withdrawals led to the collapse of numerous banks and businesses, fueled by a loss of depositor confidence.

1 of 1

Story summary

On October 22, 1907, the Knickerbocker Trust Company in New York suspended operations due to a severe bank run, igniting the Panic of 1907. This financial crisis saw the New York Stock Exchange plummet nearly 50% as widespread withdrawals led to the collapse of numerous banks and businesses, fueled by a loss of depositor confidence.