13418. Omaha National Bank (Omaha, NE)

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 1633
Charter Number: 1633
Start Date: August 15, 1931
Location: Omaha, Nebraska (41.259, -95.938)

Metadata

Model: gpt-5-mini
Short Digest: c3f5b54e

Response Measures

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

Description

Multiple contemporaneous newspaper accounts (Aug 17, 1931) report a Saturday 'run' on Omaha National (and other downtown national banks). The banks stayed open, paid every demand, and depositors redeposited funds. The run was triggered by failures of several local state banks. No suspension or receivership for Omaha National is reported.

Events (1)

1. August 15, 1931 Run

Cause: Local Banks
Cause Details: Depositors were scared by the failure of several uptown state banks, prompting a weekend run on downtown national banks.
Measures: Kept doors open past closing, paid off every demand, officers circulated among crowds, served lunch/refreshments; additional currency flown in from Kansas City Federal Reserve as precaution.
Newspaper Excerpt: The crowd was the densest at the Omaha National...officers went among the crowd and assured them that no hindrance would be placed in their way of withdrawal. The three big down town banks kept open until 9 p.m., Saturday and paid off every demand.
Source: newspapers

Newspaper Articles (12)

1. July 3, 1931 Omaha World-Herald Omaha, NE

Article from Omaha World-Herald, July 3, 1931

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street, two no Nineteenth THREE MISS dispositions. Rhodes, Boyd Adeline three tags: no dispositions H. Ries 2203 Jones street, FIREWORKS two tags: dismissed. Roberts Dairy, 2901 Cuming street, two tags; paid fine. H. 522 South Thirty- State Fairgrounds Is M. two tags; one diseighth avenue, Scene of $5,500 missed. Verna T. Ruive. 418 South Thir- plosion Loss. avenue, two one ty-eighth dismissed. Lincoln, July today Salontag, 6321 North Frank destroyed the ammunition for the avenue, three tags; no "Siege spectacle by the fireworks American dispositions Schizai, 5855 William Legion post here for Friday and street, two tags; no disposition Saturday night at the fair. grounds barn and E. Shaeffer Eighteenth and mobile also burned Howard streets, two tags; $1 and Three filling fireworks costs suspended, Shaeffer, 1904 South Six- bombs escaped The placed teenth street, two tags; one disincluding four thousand dollars for missed 4235 William fireworks, one thousand dollars for R. the barn the north side the street, two tags; disposition fairgrounds track and five Shamp, Austin aparthundred dollars for the automobile. ments. tags: paid fine Joe Milan promotor the pageEthylyn Shapiro, 3559 California Verne Newcombe and Gus paid Patterson escaped injury. The $1 only spectacle presented Norin Shoemaker 627 North later date after the arrival more street, two tags: no fireworks dispositions Patterson said he was filling Skolnik 2517 North Eightbomb when an explosion flashed eenth street, two tags: no disposiin his He dashed out the door He could not explain Edward Slattery 701 Keeline the explosion occurred building. three tags: no disposiSmith, City National Announce Reopening Bank building, two tags; no disof Live Stock Loans positions 1003 South Washington D. July street, two tags; no The antoday relief loans Spain, First National will Dakota Bank building, four tags: three dis- and Montana provide feed for missed. live stock The will be from Spain, 1808 Harney street funds from the 65 two tags paid lion dollars the Stewart Blackstone last congress for drouth sufferers two dismissed The feed be limited $1 and costs four times the needed for beef cattle and 25 Motor company Twen tieth Harney streets. two tags: sheep for family The loaned head one 4337 each month will be for Irene Strong Chicago cattle: $4 for beef cattle, and street. tags paid fine South cents for sheep 3222 fourth street, two tags; dis. missed. Suttles 820 North Fiftieth two tags: $5 and costs Omaha National Bank four $1 and costs suspended three times Schum Land company First building two tags: paid Clint Tebbens. 605 Omaha Hello National Bank building eight tags: suspended twice Thomas South Nine- Everybody! teenth street: two tags: no dispoAlfred Valentine 1113 South Seventh two paid fine Everett Vanderpool fifth and Blondo streets two tags paid fine and costs suspended Reuben Vann street two paid one dismissed Westinghouse Electric 712 Elec- I'm the refreshing tric building. three tags: $1 and costs suspended twice brew you've been ter two no dispohearing these wonsition

2. August 17, 1931 Lincoln Journal Star Lincoln, NE

Article from Lincoln Journal Star, August 17, 1931

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OMAHA DEPOSITORS RETURN WITH MONEY After Week End "Run" on Downtown Banks, Officers Report Business Again Normal OMAHA. (UP). Convinced that financially sound, many of their who drew out their savings in the big "run" of Saturday, reappeared at deposit windows Monday to renew their accounts. The three big down town banks kept open Saturday and paid off every demand. The of their was so convincing that no further runs are anticipated by bank officers. As thousands of milled about the banks officers went among them and asthere was plenty of money to pay off every claim. When found that some of them had been in line for more than an hour, President Dale Clark of Omaha National ordered luncheon served and and cake was passed around. Three million dollars was sent here by airplane from the Kansas City federal reserve bank, the airship with the money arriving shortly before o'clock. The additional funds were not needed, however, and the money was sent merely to make sure that bank would be forced to suspend payment. No estimate of the amounts withdrawn was forthcoming Monday Most of the accounts closed were small ones. Officers of Omaha National, First National and United States that no one large business account was closed. The run began in earnest at It was over at 1:30 and by o'clock only the usual number of customers were awaiting turns at the cashier windows. The usual number of new accounts were opened Saturday, bank officials said, and regular deposits were about on par with the ordinary Saturday business.

3. August 17, 1931 Fremont Tribune Fremont, NE

Article from Fremont Tribune, August 17, 1931

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STRENGTH Five National Banks of City Convincing Demonstration that the national banks financially sound, many of their depositors who drew out their ings in "run" Saturday shamefacedly reappeared deposit windows today renew their counts. The three big down town banks open until Saturday and paid off every mand. The demonstration of their sound was so convincing further are bank of persons millabout the banks, officers went among and assured everyone there plenty money pay off every When was that many of them had been line for more than hour. dent Dale Clark Omaha Nationordered lunchen and and cake was around. Three million dollars was sent airplane the Kansas City federal reserve the airship with the money arriving shortly fore o'clock The funds were not and were merely to sure that none the here would fail meet of the amount with. was today the closed small Officers Oniana National First National and National that one large busiThe run began earnest noon o'clock the usual turns the The usual of ed Saturday, bank officials anregular deposits about with the ordinary Saturday

4. August 17, 1931 The Falls City Journal Falls City, NE

Article from The Falls City Journal, August 17, 1931

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Funds Redeposited In Omaha Concerns Cmaha Aug. 17. (U.P.)-Convinced that the five national banks here are financia ly sound, many of their depositors who drew out their savings in the big 'run'' Saturday shamefacedly reappeared at deposit windows today to renew their acccunts. The three big down town banks kept open until 9 p. m., Saturday and paid off every demand. The of their soundness was so convincing that no further runs are feared by bank officers. As thousands of persons milled about the banks. officers went among them and assured everyone there was plenty of money to pay off every claim. When it was found that many of them had been in line for more than an hour. President Dale Clark of Omaha National, ordered luncheon served. and lemonade and cake was passed around. Three million dollars was sent in by airplane from the Kansas City federal reserve bank. the airship with the money arriving shortly before 6 o'c'ock. The additional funds were not needed. however, and were sent merely to make sure that none of the national banks here would fail to meet demands. No estimate of the amount withdrawn was forthcoming today. Most of the accounts closed were small ones. Officers of Omaha National. First National and U. S. National announced that not one large business account was closed. The run began in earnest at noon. It was practically over at 1:30 and by 2 o'clock only the usual number of customers were awaiting turns at the cashier windows. The usual number of new accounts were opened Saturday. bank officials announced. and regu ar deposits were about on a par with the ordinary Saturday business.

5. August 17, 1931 The Grand Island Independent Grand Island, NE

Article from The Grand Island Independent, August 17, 1931

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As Banks Withdrawals Omaha Institutions main Saturday Afternoon DEPOSITS ARE Nervousness Day Effectually Dispelied Signs Are Told Plenty Hand Patrons. Omaha, Aug. convincing demonstration their ability and willingness meet all cash demands, national banks in Omaha Saturday allayed the nervousness of small positors and effectually checked flurry evidence them. The Omaha National and the United States National kept doors open until after although withdrawals checking accounts had stopped and had pracstopped savings The First National closed after all patrons had cared In South Omaha the Live Stock experienced of rush the uptown savings department during the middle the day, died the and permitted closing for the day. Made Customers Happy the Omaha National ham and cheese sandwiches and lemonade the bank those the tht they would not go hungry waiting their With many millions cash hand and many more available short banks made tempt dissuade patrons from The exhibition strength itself sufficient the Three million dollars arrived plane from Kansas City Federal Reserve bank Faber the Faber Transit company piloted the cabin monoplane three bags, holding million dollars each. Kansas rode and the plane met here by federal reserve armored truck guard four men. Six armed with shotguns, the truck into the city. The million bankers said, purely precautionEnough available Federal bank to meet said, but the extra in should far beyond expectation. Withdrawals chiefly in the departments, and the total comparatively light the large deposits in both savings and checking accounts were not affected. Withdrawals Returned "Big customers" made their deposits usual, and the lines the receiving seemed to help inspire confidence. Many came make departed with their deposits During the many those who had made back and deposited their money Banks other than the four named reported little flurries, no remain open hours. announcing that the Omaha tional would remain open until customer remained for, ident Dale Clark said that pleasure this plenty money bank, and plenty more in the Federal bank down the The Omaha Clearing House association with the strong national banks Omaha and South Omaha, its members, took hand allaying public nervousness the closing small state banks Omaha the past including the State Saturday official statement following the association the that the banks which not of the house, they portion' deposits. Deposits closed banks amount percent the total deposits the banks Behind the clearhouse banks are strong cash sources, the strength the bank of this district. The Clearing House issued the statement years, since the organization the Clearing House 1884, every depositor any bank which member the Omaha Clearing House Omaha, has been paid full. In order put end unfoundrumors unguarded talk, the Clearing House banks of Omaha wish point out that while four the smaller banks Omaha liquidation in the past of these banks belonged the Federal Reserve system. All the present banks in Omaha and South Omaha, of the Federal have and have total posits over million dollars, the banks that liquidating deposits only about percent this total, and this depositor will receive very stantial portion. statement Saturday managing director the bank in Omaha, said: remaining banks in Omaha sound and there occasion their for depositors To this time strike against and and wage earner in property owner "National banks members Reserve system and their Federal them the membership entitles obtaining funds from the privilege Reserve The Federal Omaha are affibanks

6. August 17, 1931 The McCook Daily Gazette McCook, NE

Article from The McCook Daily Gazette, August 17, 1931

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OMAHA DEPOSITORS RETURN THE MONEY TAKEN OUT IN FEAR Omaha, Aug. vinced that five National banks here are financially sound, of their depositors who many drew out their savings in the of shamefacedly at deposit dows today renew their counts. The three big down town banks kept open until Saturday and paid off every mand. The demonstration of their was that further runs are anticipated bank milled about the banks persons officers went among them and assured everyone there was plenof off money pay every claim. When found that some of them had been line for more than an hour, President Dale Clark Omaha National ordered luncheon served and lemonade and cake was passed around Three million dollars was here from the City Federal bank, the airship with the shortly money before oclock. The additional funds were not needed, however, and the was sent merely money make sure that bank would forced to suspend payment. No estimate the amounts withdrawn forthcoming day. Most of the accounts small ones. Officers Omaha National, First National and National that not one large business count was closed. The run began in earnest noon. practically and by oclock only usual number of customers awaiting turns at the cashier windows.

7. August 17, 1931 Lincoln Journal Star Lincoln, NE

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OMAHA DEPOSITORS RETURN WITH MONEY After Week End "Run" on Downtown Banks, Officers Report Business Again Normal OMAHA (UP). Convinced that financially sound, many of their depositors who drew out their savings in the big "run" of Saturday, reappeared at deposit windows Monday to renew their accounts. The three big down town banks kept open until 9 p. m., Saturday and paid off every demand. The of their soundness was so convincing that no further runs are anticipated by bank officers. As thousands of persons milled about the banks officers went among them and assured there was plenty of money to pay off every claim. When it found that some of them had been in line for more than an President Dale Clark of Omaha National ordered luncheon served and lemonade and cake was passed around. Three million dollars was sent here by airplane from the Kansas City federal reserve bank, the airship with the money arriving shortly before 6 o'clock. The additional funds were not needed, however, and the money was sent merely to make sure that no bank would be forced to suspend payment. No estimate of the amounts withdrawn was forthcoming Monday Most of the accounts closed were small ones. Officers of Omaha National, First National and United States National announced that no one large business account was closed. The run began in earnest at noon. It was practically over at 1:30 and by 2 o'clock only the usual number of customers were awaiting turns at the cashier windows. The usual number of new accounts opened Saturday, bank officials said, and regular deposits were about on a par with the ordinary Saturday business.

8. August 17, 1931 York News-Times York, NE

Article from York News-Times, August 17, 1931

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BANKS EXPECTED AFTER THE Many Depositors Renew Their Accounts in Omaha Banks After Scare Saturday's Aug. the five national banks here financially many of the positors who drew out their in the big "run" Saturday, shamefacedly reappeared at posit windows today to renew their account The three big down town banks kept open until urday and paid off every demand. The demonstration their soundconvincing that runs anticipated by bank thousands of persons milled about the banks officers among them and assured everyone there was plenty of money to pay claim. was found that some of them had been line for more than an hour President Clark of Omaha National order served and lemonade cake passed around. Three million dollars sent here airplane from the Kansas City the money arriving shortly before o'clock. The additional fuilds not needed. however, and the money sent merely to make bank would be forced payment No estimate the amounts forthcoming today Most accounts closed small Officers of Omaha National, National and nounced that not large business account was closed. The began earnest practically over o'clock only the usual number customers were awaiting turns the cashier windows. The usual number of accounts opened Saturday, bank officials said, and regular deposits were about on par with the ordinary Saturday business

9. August 17, 1931 The Stockman's Journal Omaha, NE

Article from The Stockman's Journal, August 17, 1931

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NATIONAL BANKS ARE FINANCIALLY SOUND Soundness Efficiently Demonstrated During Run-Accounts Being Renewed. Convinced that the five national banks financially sound, many of their depositors drew their savings the "run" Saturday shamefacedly reappeared windows today renew The three big down banks kept Saturday and paid off every mand. The demonstration of their soundconvinci: that no furfeared bank runs ficers. thousands milled about the banks, went among them and assured everyone plenty money to pay there claim. When was found off every that many of them had in hour for more Dale Clark of Omaha orserved, and dered around dollars was sent in million from the Kansas airplane reserve bank, airship federal arriving shortly bewith the money The funds o'clock. and were none of the banks here would meet estimate the amount drawn was fort coming today. small Most accounts closed Officers Omaha National, First National and announced that not one large business account closed. The began in earnest at noon was practically and o'clock only the usual customers turns windows. The usual the number accounts opened Saturday, officials and regular about on with the ordinary, Saturday par

10. August 18, 1931 The Daily Worker New York, Chicago, NY

Article from The Daily Worker, August 18, 1931

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5 OMAHA BANKS CRASH IN WEEK; OTHERS SHAKEN C.P. Calls on Small Depositors Organize OMAHA, Neb., Aug. 17. - Four banks crashed in one week's time. Two banks crashed Monday, Aug. 10, the State Bank of Omaha and the Farmers and Merchants Bank of Benson. The reason given for the failure was the shrinkage in value of the foreign bonds at the State Bank of Omaha. The Farmers and Merchants Bank reason was having deposits in the State Bank of Omaha. Friday, Aug. 14, the South Omaha State Bank closed and on Saturday, Aug. 15, the Union State Bank closed and the run on three other banks developed to the point where they had to keep open Saturday after their usual closing hours. The presidents of all the banks that have so far crashed are issuing reassuring statements, and yet it is being rumored that the depositors will lose at least 20 to 30 cents on a dollar. This is the biggest bank crash that Omaha has had since 1896. The three other banks of Omaha, the Omaha National, the First National and the U. S. National, are part of the Federal Reserve, and, because of that, the Omaha Clearing House Association is trying to stop runs on these banks, but hundreds of workers are demanding their deposits. In the last week, throughout the state of Iowa, four or five banks have failed and others are said to be very shaky. The Communist Party of Iowa and Nebraska issued a statement Saturday night demanding protection for the workers' deposits and is also demanding that they will be the preferred claims and that they shall be paid in full. Efforts are being made by the Communist Party of Omaha to organize a joint committee of workers who have deposits in the four banks with a committee of the banks where the run is going on at this time. A mass meeting for this purpose is being called for Thursday, Aug. 20, at Jefferson Park of this city. The South Omaha Savings Bank has just failed. This makes three banks in 48 hours. They are trying to stall the run on all the other banks by putting up free lunch counters, where they distribute sandwiches, coffee, pie and lemonade. Many people are standing in front of the crashed banks weeping and lamenting the fact that they have lost their savings.

11. August 18, 1931 Lincoln Journal Star Lincoln, NE

Article from Lincoln Journal Star, August 18, 1931

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DEPOSITORS RETURN After Week End "Run" on Downtown Banks, OffiAgain OMAHA. (UP), Convinced that financially sound, their depositors who drew their the of Saturreappeared deposit dows to their a.c. counts. The three big down banks open urday and paid off every demand. The their was convincing further are anticipated bank officers. persons milled about the banks officers among and sured plenty money to pay off found that some had line for Clark of Omaha lunch. eon served and and cake passed Three million dollars was sent airplane the City federal bank. the airthe shortly before The ditional funds not needed, however, the was merely make that would be forced to suspend ment. No of the amounts with Monday Most the accounts closed small Officers Omaha National, First National United States that one large business account was closed. began earnest noon. practically over 1:30 and by only the usual number awaiting turns the cashier windows. usual of new accounts were opened Saturday bank officials and posits were about the ordinary Saturday business.

12. August 19, 1931 Osmond Republican Osmond, NE

Article from Osmond Republican, August 19, 1931

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RUN ON OMAHA NATIONAL BANKS The strength of the National banking structure at Omaha was demonstrated Saturday when hundreds of depositors, scared by the failure of four uptown state banks, flocked to the National institutions to withdraw their savings Farnam street between Sixteenth and Seventeenth, where the three large National banks are located was literally black with people at noon, the usual closing hour on Saturday. National banks had received plenty of warning and federal reserve banks had supplied them with a limitless supply of money with which to withstand the run. The Federal Reserve Bank at Kansas City sent more than 2 million dollars in currency to the city by airplane. The crowd was the densest at the Omaha National, which has deposits of about $37,000,000. Officers of the bank went among the crowd and assured them that no hindrance would be placed in their way of withdrawal. Similar scenes were being enacted at the United States and the First National banks. In South Omaha the Packers National experienced a small run, but was able to easily care for all demands. The Postal Savings bank in the post office was swamped with persons who had withdrawn their money and desired to bank it with Uncle Sam. Usually only two clerks are on duty in this bank. At times the line of waiting depositors was a block long Safety deposit boxes soon became scarce, many who had withdrawn money deciding to put it away in these boxes until the situation clears up. ner and then westward into Jackson. At present the highway runs in a general westward direction for about three and a half miles, swings one mile south and curves west into Jackson. Backers of these new projects say they would shorten the distance be tween these towns and would eliminate several sharp curves. C. W. Peasinger of Randolph, president of the Nebraska Federal Highway No. 20 association, presided. Governor Bryan was served O.: Monday with notice of a restraining order issued in Dakota county by District Judge Mark J. Ryan at Pender, preventing the department of public works from traversing the farm of Nid olas Goergen near South Sioux City, in its rerouting of the Hearing on an application for a temporary injunction will be held at Pender August 20. "Her highness awaits within sir." "Within what "Within reach!" Golddigger: I'd have adored to live during the age of chivalry. Second Femme: Yes. Weren't the men polite then? First One: And they had such wonderful manors. Bum: Can you spare me a dime for a cup of coffee? Wealthy Prospect (trying to evade the question) :Sure, if you can change a twenty. Bum (reaching into pocket) I can do that all right, but you'll have to take a lot of small change.