Home Bank & Trust Company

Episode Information

Episode UID: 1241920391567
Episode Type: Run → Suspension → Closure
Bank Type: trust
Bank ID: 124192039 hash
Start Date: July 1, 1930*
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 9158325f400747e7

Response Measures

None

Description

Exact suspension/takeover date not stated; article describes 1930 accommodation note and subsequent takeover.

Events (2)

1. July 1, 1930* Receivership

Newspaper Excerpt: the Home bank was taken over by the officers of the National Bank of Republic, who organized the United American Trust and Savings bank at the same location
Source: newspapers

2. July 10, 1930 Run

Cause Details: Direct reference to signing an accommodation note at midnight July 10, 1930 in case of a run; article does not specify the trigger of the run.
Measures: Directors signed a $1,000,000 accommodation note to provide emergency funds in event of a run.
Newspaper Excerpt: The note is for emergency and is to be used in case there is a run on the bank.
Source: newspapers

Newspaper Articles (1)

1. November 23, 1935 Chicago Tribune Chicago, IL

Article Text

JUDGE EXPLAINS SIGNING BANK'S $1,000,000 NOTE Acted on Woodruff Plea, Jarecki Testifies. County Judge Edmund K. Jarecki took the witness stand yesterday in the Superior court of Judge Donald S. McKinlay and explained how he and fourteen other former directors of the defunct Home Bank and Trust company signed a million dollar note at a midnight meeting of the board July 10, 1930, as an "accommodation" in event of a run on the bank. The suit was brought by the directors to contest the validity of the note and seeks to have set aside a judgment of $970,139 obtained by the National Republic company, present holder of the note. The note was originally signed in favor of the National Bank of Republic. Requested by Woodruff. The directors have asserted they signed the note at the request of George Woodruff, then chairman of the National Bank of Republic, with the assurance they would assume no liability. The note was signed a few days before the Home bank was taken over by the officers of the National Bank of Republic, who organized the United American Trust and Savings bank at the same location. Judge Jarecki declared that Woodruff assured them they would not be held liable on the note and that no attempt would be made to collect it. He asserted Woodruff told the directors, "The note is for emergency and is to be used in case there is a run on the bank." "Form of Accommodation." Another witness, Joseph Fleming, who acted as counsel for the Home bank, told how Woodruff asked the directors to sign the note "as a form of accommodation" to himself in case of a run on the bank. Fleming testified that Woodruff told them, "The note will be returned as soon as the new bank is organized."