Nebraska State Bank - Bristow, NE

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: July 31, 1930
Location: Bristow, Nebraska (42.842, -98.585)

Metadata

Model: gpt-5-mini
Short Digest: 72c828dc

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health

Description

Deposit run in late July 1930 triggered by uneasiness after the temporary closing of a bank of the same name in Norfolk. The Nebraska State Bank in Bristow met all withdrawals with cash flown/shipped from Omaha and O'Neill and remained open.

Events (1)

1. July 31, 1930 Run

Cause: Local Banks
Cause Details: Uneasiness among depositors caused by the temporary closing of a bank of the same name in Norfolk prompted heavy withdrawals in Bristow.
Measures: Cash ($45,000 and additional amounts) rushed by airplane and special messenger from United States National Bank of Omaha and cash driven by auto from First National Bank of O'Neill; paid off demand deposits.
Newspaper Excerpt: To meet unusually heavy withdrawals, consignment of 45 thousand dollars in cash was sent by airplane Thursday to the Bristow State bank, Bristow, Nebr., from the United States National bank here.
Source: newspapers

Newspaper Articles (1)

1. July 31, 1930 The Bristow Enterprise Bristow, NE

Article from The Bristow Enterprise, July 31, 1930

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Article Text

LOCAL BANK PAYS The Nebraska State Bank of Bristow emerged from a financial run that might have submerged many another institution under conditions such as we have in this county where there have been so many bank fail ures in recent years. The scare fell flat, however, upon the arrival of Launce Gibson in an air plane from Omaha and Mr. Gallagher, President of the First National Bank of O'Neill, by auto with all the cash that might be needed. The $85,000.00 was far more than sufficient but of course the amount needed could not be forseen. The United States National Bank of Omaha with whom Mr. Gibson keeps his deposit wired the Bank here as follows at the time he left. Nebraska State Bank, Bristow, Nebraska. We have shipped currency from O'Neill by Special Messenger. Mr. Gibson leaves here at once by airplane with large amount cash. We will ship more if needed. R. Morseman, President United States National Bank How did the run start? We don't know, but Mr. Gibson stated that he thought it started because of the fact that he had kept part of his money antil some time ago, with the Nebraska State Bank at Norfolk and some carried the idea that he still did. Of course the idea is absurd for had his money been there it would have been mpossible him to run after the suspension of business there. Mr. Gibson states that since himself and Mr. Krohn purchased the controlling interest in the bank little over month ago that the United States National bank of Omaha is his depos:tory and that he has no notes of the Norfolk Bank. Mr. Gibson has always run good conservative bank and it has always had the reputation of being one of the strongest banks in this country and the experience of the past few days proves the truth of the assertion. The following two clippings an from the Omaha Bee News and World Herald go to show ho know of Mr. Gibson and 015 bank. With the cockpit well stacked with currency, Launce Gibson, cashier of the Nebraska State bank of Bristow, Nebr., took off from municipal airport at 10 to supply depositors in his bank. Mr. Gibson appeared at the United States National bank here before opening. His bank is good and sound Omaha bankers declared, and the United States National readily advanced him money enough to pay off every demand deposit in his bank. We'll advance him more if he needs it," said an officer of the United States National. Uneasiness among depositors of the Bristow to have been caused by the temporary closing of bank by the same name in Norfolk, Nebr., on Wednesday. Omaha evening Bee. CASH RUSHED BY PLANE TO BRISTOW STATE BANK To meet unusually heavy withdrawals, consignment of 45 thousand dollars in cash was sent by airplane Thursday to the Bristow State bank, Bristow, Nebr., from the United States National bank here. The money was carried in an Eaglerock plane piloted by Paul Norman of the Rapid Aviation company. His passenger was Launce Gibson, president of the Bristow bank According to Victor Caldwell, assistant cashier of the U. S. National bank, his organization sent enough money to meet the present demands, and will furnish the Bristow bank with whatever additional amount it may need. Herald. Mr. Gibson states that he sincerely thanks his many customers and friends for their expression of conndence and loyal support, and that the bank will continue to be run in the same safe sound manner in which he has always run it. We have always considered our Bank one of the best and it has now been demonstrated to us just how strong the bank really is. We, as community, wish to take sion to give them our vote of confidence. Mr. and Mrs. J. W. Anderson and family spent Sunday afternoon at the Christian Lihs home.