Which company’s collapse triggered the Panic of 1907 after a failed attempt to corner United Copper?

The Knickerbocker Trust Company’s collapse helped trigger the Panic of 1907 after a failed attempt to corner United Copper.

Speculator F. Augustus Heinze and associates tried to control United Copper’s shares, expecting short sellers to be forced to buy at inflated prices. The plan failed, and the resulting revelations damaged confidence in institutions connected to Heinze. The Knickerbocker Trust Company, one of New York’s largest trust companies, became the crisis’s most prominent early casualty.

A run began after the institution’s president, Charles T. Barney, was forced to resign. On 22 October 1907, Knickerbocker suspended operations, intensifying withdrawals and spreading fear through the financial system.

The panic eventually led to the creation of the National Monetary Commission and helped build political support for the Federal Reserve System, established in 1913.