The Bank Panic of 1907: The Role of Trust Companies
利用信托公司、州银行和国民银行的资产负债表数据，发现1907年恐慌期间纽约市的贷款和存款收缩仅限于信托公司，而非国民银行。
The Bank Panic of 1907 was one of the most severe financial crises in the United States before the Great Depression. Although contemporaries realized that the panic in New York City was centered at trust companies, subsequent research has relied heavily on national bank data. Balance sheet data for trust companies and state banks as well as call reports of national banks indicate that the contraction of loans and deposits in New York City during the panic was confined to the trust companies.