13437. United States National Bank (Omaha, NE)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
2978
Charter Number
2978
Start Date
August 15, 1931
Location
Omaha, Nebraska (41.259, -95.938)

Metadata

Model
gpt-5-mini
Short Digest
4d863b6f

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Multiple contemporaneous articles (Aug 17–18, 1931) describe a weekend run on Omaha downtown national banks including United States National Bank. Banks remained open, paid all demands, and did not suspend. Trigger was panic after failure of several uptown state banks; Fed Reserve shipped currency by airplane and banks served customers (luncheon, lemonade) to ease nerves.

Events (2)

1. June 14, 1883 Chartered
Source
historical_nic
2. August 15, 1931 Run
Cause
Local Banks
Cause Details
Depositors were scared by the failure of four uptown state banks, prompting withdrawals at downtown national banks.
Measures
Banks kept doors open late, paid off every demand, officers went among crowds to assure depositors; Federal Reserve sent millions by airplane; banks provided food/refreshments to waiting customers.
Newspaper Excerpt
After Week End 'Run' on Downtown Banks...the three big down town banks kept open until 9 p. m., Saturday and paid off every demand.
Source
newspapers

Newspaper Articles (4)

Article from The Grand Island Independent, August 17, 1931

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Article Text

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


Article from Lincoln Journal Star, August 17, 1931

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Article Text

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.


Article from Lincoln Journal Star, August 18, 1931

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Article Text

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.


Article from Osmond Republican, August 19, 1931

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Article Text

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.