Here is the abstract
Previous studies of the Panic of 1907 have argued that lax regulation enabled trust companies to take excessive risks, leading to a loss of confidence and massive runs. These studies have, however, given relatively little attention to the historical development of trust companies. This paper argues that a more historical perspective can lead to a better understanding of the institutional framework and the actions of trust companies. Depositors did not lose confidence because of inadequate regulation; depositors lost confidence in specific trust companies because of false rumors, and diversity among trust companies hindered cooperation to halt the Panic.
And here is an earlier version on SSRN
Sometimes Bad Things Happen to Good Trust Companies: A Reexamination of the Trust Company Panic of 1907