13491. Plainview State Bank (Plainview, NE)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
July 23, 1930
Location
Plainview, Nebraska (42.350, -97.792)

Metadata

Model
gpt-5-mini
Short Digest
b35a759b

Response Measures

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

Description

A run occurred in late July 1930 triggered by the closing of the Nebraska State Bank in Norfolk (panic spilled over). The Plainview State Bank obtained cash shipments from Omaha National Bank, officials reassured depositors and the bank remained open (articles on July 24 and July 31, 1930). No suspension or receivership is mentioned.

Events (1)
1. July 23, 1930 Run
Cause
Local Banks
Cause Details
Run triggered by news that the Nebraska State Bank in Norfolk had closed; depositors feared a connection between the two banks.
Measures
Bank telephoned Omaha for cash; Omaha National Bank sent cash accompanied by R. Kane who publicly vouched for Plainview. Committee of local businessmen inspected notes; officials invited depositors to return funds.
Newspaper Excerpt
Much excitement was prevalent ... report came over the radio from Norfolk that the Nebraska State bank at that place had closed its doors ... heavy withdrawal was started. Mr. Saunders ... telephoned Omaha for more cash and the car arrived ... R. Kane of the Omaha National bank accompanied this shipment of money and immediately impressed upon local people the fact that his bank would stand behind the local institution.
Source
newspapers

Newspaper Articles (3)
1. July 24, 1930 The Plainview News Plainview, NE
Article from The Plainview News, July 24, 1930

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Article Text

Norfolk Bank Closing Causes Run on Bank Bank Is Sound. Much excitement was prevalent the streets of Plainview Wednesday afternoon when report came over the radio from Norfolk that the Nebraska State bank at that place had closed its doors for As local people felt there was some connection between the Plainview State bank and the one at Norfolk many became alarmed that the Norfolk bank closing would cause this to operation and heavy withdrawal was started. Mr. Saundcashier of the Plainview bank, immediately telephoned Omaha for more cash and the car arrived about o'clock. R. Kane of the Omaha National bank accompanied this shipment of money and immediately impressed upon local people the fact that his bank would stand behind the local institution event of more withdrawals. He also stated that this was the third time he had done thing this kind and would not do for every bank, but as he knew the kind of institution that being operated here, took upon himself to pay all deposits if they Many local business began making deposits to bank possible, and also showing their confidence in the institution. Mr. Kane also asked the crowd in front of the bank to take confidence Mr. Saunders and the Plainview bank, in the best condition and that the closing of the Norfolk bank would have absolutely no bearhere. The statement of the Plainview State bank June 30th just passed showed the bank to have total quick assets of $198,804.29, most of which in bonds, commercial and paper cash. During their 20 months of business, the bank having been startOctober 1928, they have placed surplus of $9,000. Some felt that there was possibility of bad paper in this bank, but committee of local business men volunteered and the bank officials port that there not note in this bank but what the signer was known them and everyone was amply secured. This morning several peowere in regarding their finances but after being shown the money hand and being impressed with the good condition matter, felt much relieved the situation. The Plainview State bank is sound every way and will continue to business before.

2. July 30, 1930 Osmond Republican Osmond, NE
Article from Osmond Republican, July 30, 1930

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Article Text

Games dated with Osmond for the are: August at Yellow Banks August at Wayne August at OSMOND August at OSMOND August Laurel September at Crofton September at Osmond Schedule Burial Ground Norfolk Disgraced Desecrating an early day burial ground in shocking has manner come to light recently at Norfolk where the owner of farm adjointhat city has made hog lot out of what heretofore has been the resting place for many of the early day pioneers. It was far back 1867 that one of the women of party settling on the ground that Run On Plainview now the bustling of Norfolk city State Bank died and was buried on plot of Wholly without ground on an elevation closeby. The grounds but land was later homesteaded by Rev. prompted by the closing of the James Kidder who permitted other Norfolk Nebraska State Bank for buriels on the plot and for the alleged reorganization on Wednes- years cemetery was given due attention: day of last week many of the dewhen later cemetery association positors of the Plainview State formed many of the bodies Bank became alarmed and began removed thither, though others withdrawing their deposits. Behaving no one interested in them cause of the connection of the two remained on the Tombbanks through ownership of part of stones were broken down and lay in the stock, certain of the depositors promiscuous manner scattered feared the Plainview bank might be about, some semblance of respect in turmoil and provision was for the dead still by appears reason made to meet the of netted wire fence around some mands by having cash brought of the graves, but these in the midst from the Omaha National Bank, the of the hog lot have given rise to money arriving car at sense of revolt on the part of those clock M. Kane of the becoming informed of the surroundOmaha bank gave the public the ings The passing of title from one surance that their was absolutely individual to another has brought no ground for any fears as to the with it the disregard for sacred first class condition the Plainground with incumview bank and proferred the statebent on present day owners of the ment that his bank, knowing the farm the scene desecration complete solvency of the Plainview comes Tombstones institution, would stand back of this about in the yard show the early bank. As mark of further day burial, some dating back far surance of the spelndid condition of as 1875. the bank the cashier, B. Saun- ders, asked that committee of local people convince themselves of the first class condition of his bank by making inspection of its notes and and their report helped to pacify those who had intended withdrawtheir funds. The Painview state bank, newly organized about 20 months ago and showing net earnings and continually and actualy having about two hundred thousand dollars cash and quick assets and further having only such paper as would pass rigid inspection, occasions no cause for alarm and rightfully merits the confidence of its local patrons who ceased their withdrawupon being given an insight into the first class condition of the bank. roads. Nebraska engineers, with no precedent to follow, were forced to write their own specifications, and the results of their experiments will be made available to other states where similar conditions exist. To date there has been criticism from people who will use the roads, nor from motorists who are traveling on other oil surfaced roads in the northern part of the state. The department last week also completed the experiment of sprinkling thin coat of oil on No. for three miles east of Lincoln in order to hold down dust. This, engineers is far success, and it only remains to be seen how long the treatment will last. In this case the oil was spread first, then gravel was spread on from the windrows along the side. The oil worked up into the gravel and holds in place. In this manner, it is hoped less gravel will be quired because will not be blown away or picked up by automobile wheels.

3. July 31, 1930 The Plainview News Plainview, NE
Article from The Plainview News, July 31, 1930

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Article Text

BANK STILL RUN The Plainview State bank still open and doing business and will do after the run that started. last week. People here became excited over the fact that the State bank Norfolk closed its doors and felt that the Plainview bank was connected the Norfolk institution and would eventually close this bank also. Mr. Saunders informs that they could have paid every depositor and still able remain open. paid those who demanded their money and now invites them to turn this or other money any they might have to the Plainview bank for safekeeping. In view of the fact that other banks have failed here people are inclined to be easily excited over this kind situation, they not to blamed for feeling this way, and an tion extended to come and business with the Plainview State bank before. The officials here will glad take care of your banking problems and feel that the people have proven their satisfaction that this bank sound.