First Union Trust & Savings Bank

Episode Information

Episode UID: 2000971578
Episode Type: Run Only
Bank Type: state
Bank ID: 200097 routing
Routing Number: 2-0009
Start Date: June 8, 1931
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest: dacdab468c4f242e

Response Measures

None

Description

The article describes a merger of First National and First Union Trust & Savings as a response to the panic.

Events (1)

1. June 8, 1931 Run

Cause: Local Banks
Cause Details: Panic and wholesale withdrawals triggered by the closure of twenty-seven other Chicago banks.
Measures: Directing the merger of the First National and its affiliate, the First Union Trust and Savings
Newspaper Excerpt: Many patrons are returning their money to the banks from which they withdrew it in panic a few days ago. Mob hysteria was responsible for the situation
Source: newspapers

Newspaper Articles (1)

1. June 12, 1931 Lincoln Journal Star Lincoln, NE

Article from Lincoln Journal Star, June 12, 1931

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Article Text

wholesale withdrawals and we can safely say the trouble mainly is past. Many patrons are returning their money to the banks from which they withdrew it in panic a few days ago. Mob hysteria was responsible for the situation which caused the twenty-seven banks to close, Traylor said. Other banking leaders said the nature of Chicago's population brought about the panic. Chicago has high percentage of foreign born residents and many of them do not understand the American banking system. Most of them are thrifty and many of them of nervous temperament. Traylor's part in bringing order out of the financial unrest included directing the merger of the First National and its affiliate. the First Union Trust and Savings, with the