Which trust company collapsed in October 1907, intensifying the U.S. Panic of 1907?

The Knickerbocker Trust Company collapsed in October 1907, intensifying the U.S. Panic of 1907.

Knickerbocker was one of New York's largest trust companies. A failed attempt to corner the stock of United Copper Company damaged confidence in its president, Charles T. Barney. Depositors then rushed to withdraw funds, and the trust suspended operations on 22 October 1907.

The failure helped spread fear through banks and other trust companies. With no U.S. central bank then in existence, financier J. P. Morgan organized private support and emergency lending to stabilize the financial system. The crisis eventually encouraged reforms that led to creation of the Federal Reserve in 1913.

The United Copper scheme helped spark the panic, but United Copper itself was not the trust company that failed. Knickerbocker's collapse was also not a conventional commercial-bank failure; trust companies performed banking-like functions while operating under different rules.