First Union Trust & Savings Bank (Chicago, IL)

Episode Information

Episode UID
2000971590
Episode Type
Run Only
Bank Type
state
Bank ID
200097 routing
Routing Number
2-0009
Start Date
June 25, 1932
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
518dbda456f2efb3

Response Measures

None

Events (1)
1. June 25, 1932 Run
Cause
Rumor Or Misinformation
Cause Details
Alleged well-planned plot by 'enemies' and resulting fears after other bank closings led depositors to attempt withdrawals.
Measures
President Melvin A. Traylor appeared on the banking floor, pleaded for faith, and the banks took steps to increase liquidity.
Newspaper Excerpt
stemmed an incipient run on his $25,000,000 First National Bank and $10,000,000 First Union Trust & Savings Bank today by appearing on the banking floors and pleading for faith.
Source
newspapers

Newspaper Articles (8)
1. June 26, 1932 The Plain Dealer Cleveland, OH
Article from The Plain Dealer, June 26, 1932

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Article Text

Traylor Addresses Depositors; Balks Run on Two Banks CHICAGO June Melvin Traylor, considered by many presidential itemmed an on his First First Union Trust Sav ngs and pleading for faith. who is president of both the three largest the for demonstration against the had been laid and the had taken steps to put more liquid than Both crowded large number of intended withdraw ing fear ered by recent closings Four ings today one brought to the here this bank will during the usual and will open on Monday morning Traylor told will be willing and off any depositor who to alleged plot. Traysaid This promoted by those are not your friends friends Fortunately are the best posiin our history Please tell your neighbors will open Mon day morning and every morning at The thinned after had spoken and an bank attaches had been restored The Loop bank close was the Bank of Commerce with had absorbed the Bank of last September assets are understood deposits

2. June 26, 1932 Evening Star Washington, DC
Article from Evening Star, June 26, 1932

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Article Text

TRAYLOR CHECKS RUN ON HIS BANKS Plea for Faith Wins at Two Institutions.- Plot by "Enemies" Charged. By the Associated Press. CHICAGO, June 25.-Melvin A. Traylor, considered by many Democratic presidential timber, stemmed an incipient run on his $25,000,000 First National Bank and $10,000,000 First Union Trust & Savings Bank today by appearing on the banking floor and pleading for faith. Traylor, who is president of ooth banks-among the three largest in the city-declared a well-planned plot for a demonstration against the banks had been laid by "enemies" and said the banks had taken steps to put themselves in a more liquid condition than ever before. Able to Pay Off, He Says. Both banking floors were crowded with customers, a large number of whom aparently intended withdrawing accounts because of fear engendered by recent closings. Four closings today, one in the Loop, brought to 39 the number of banks here that have shut down this month. "The bank will be open during the usual business hours and will be open Monday morning," Traylor told patrons. "It will be willing and able to pay off any depositor who wishes to withdraw his funds." Referring to the alleged plot, Traylor said: "This was promoted by those who are not your friends or our friends. Fortunately, we are in the best position in our history. Please tell your neighbors that we will be open Monday morning and every morning at 9 o'clock." Crowds Disperse Quickly. The crowds quickly thinned after he had spoken and within an hour, bank attaches said, normalcy had been restored. The Loop bank to close was the Chicago Bank of Commerce with $5,200,000 deposits. It had absorbed the Union Bank of Chicago last September. Its assets are understood to cover deposits. Three other banks in outlying sections closed. two of them in North Shore suburbs-the First National Bank of Wilmette and the Northbrook State Bank The fourth was the South Ashland National Bank. These three together had about $1,000,000 deposits.

3. June 26, 1932 News-Press Fort Myers, FL
Article from News-Press, June 26, 1932

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Article Text

Traylor Halts Run On Bank By Appeal vin A. Traylor, considered by many as democratic presidential timber, stemmed an incipient run on his $25,000,000 First National bank and $10,000,000 First Union Trust & Savings bank today by appearing on the banking floors and pleading for faith. Traylor, who is president of both banks among the three largest in the city-declared a well-planned plot for a demonstration against the banks had been laid by "enemies" and said the banks had taken steps to put themselves in a more liquid condition than ever before. Both banking floors were crowded with customers, a large number of whom apparently intended withdrawing accounts because of fear engendered by recent closings. Four closings today, one in the Loop, brought to 39 the number of banks here that have shut down this month. The bureau of census has announced that 1,201 of the 6,055 retail outlets for oil and gasoline in Kentucky are filling stations. Troops from Fort Riley, Kas., were called out to capture 68 hogs spilled from the trailer of a truck.

4. June 26, 1932 The Index-Journal Greenwood, SC
Article from The Index-Journal, June 26, 1932

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Article Text

Melvin A. Traylor Stops Run On Bank By Timely Appeal CHICAGO, June A. Taylor, considered by many Democratic presidential timber. stemmed an incipient run on his $25,First National Bank and $10,000,000 First Union Trust and Savings Bank today by appearing the banking floors and pleading faith.

5. June 26, 1932 Corpus Christi Caller-Times Corpus Christi, TX
Article from Corpus Christi Caller-Times, June 26, 1932

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Article Text

Run on Chicago Bank Stemmed as Melvin Traylor Pleads for Faith Chicago, June 25.-(P)-Melvin A. Traylor, considered by many as Democratic presidential timber, stemmed an incipient run on his $25,000,000 First National bank and $10,000,000 First Union Trust and Savings bank today by appearing on the banking floors and pleading for faith. Traylor, who is president of both banks-among the three largest in the city-declared well-planned plot for demonstration against the banks had been laid by "enemies" and said the banks had taken steps to put themselves in a liquid condition than ever before. Both banking floors were crowd. ed with customers, large number of whom apparently intended withdrawing accounts because of fear engendered by recent closings. Four closings today. one in the loop. brought to 39 of banks here that have shut down this month. Referring alleged Traylor "This promoted by not your friends or our friends. tion in our history. Please tell neighbors that we will be open Monday morning and every morning at The crowds quickly thinned after he had spoken and within an hour. bank attaches said, normaley been The loop bank to close was the Chicago Bank of Commerce with $5,200,000 It had absorbed the Union Bank of Chicago last September. Its sets are understood to cover deThree other banks in outlying sections closed, two of them in North Shore suburbs-the First National Bank of Wilmette and the Northbrook State bank. The fourth was the South Ashland National These three together had about deposits.

6. June 26, 1932 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, June 26, 1932

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Article Text

RUN ON CHICAGO BANK Melvin A. Traylor Appears on Banking Floors to Plead for Faith June 25 A Chicago, Traylor, considered by many Democratic presidential stemmed an incipient run on his First National Bank and $10,000.000 First Union Trust and Savings Bank today by appearing on the banking floors and pleading for faith. Traylor, is president of both banks- among the three largest in the city-declared well-planned plot for demonstration against the banks had been laid "enemies" and said the banks had taken steps to put themselves in more liquid condition than ever before Both banking floors were crowded with customers. large number of whom apparently intended withdrawing of fear engenby closings. Four closings today, one in the Loop. brought to 39 the number of banks here that have shut down this month bank will be open during the usual hours and open on Monday morning Traylor told patrons. will be willing and able to pay off any depositor who wishes to withdraw his funds Referring to the alleged plot, Traylor This was promoted by those who are not your friends or friends. Fortunately, the best posttion in our history Please tell your neighbors that we will be open Monday morning and every morning at The crowds quickly thinned after he had spoken an bank attaches said, normalcy had been restored.

7. June 26, 1932 Lewistown Daily News Lewistown, MT
Article from Lewistown Daily News, June 26, 1932

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Article Text

Trayler Halts Run On Chicago Bank vin A. Traylor. considered by many democratic presidential timber, stemmed an incipient run on his $25,000,000 First National bank and $10,000,000 First Union Trust and Savings bank today by appearing 6n the banking floors and pleading for faith. Traylor. who is president of both banks among the three largest in the city-declared a well-planned plot for a demonstration against the banks had been laid by "enemies" and said the banks had taken steps to put themselves in more liquid condition than ever be. fore. Both banking floors were crowded with customers. A large number of whom apparently intended withdrawing accounts because of fear engendered by recent closings Four closings today, one in the Loop, brought to 39 the number of banks here that have shut down this month. "The bank will be open during the usual business hours and will be open on Monday morning," Traylor told patrons. "It will be willing and able to pay off any depositors who wishes to withdraw. his funds.' The crowds quickly thinned aft. er he had spoken and within an hour. bank attaches said, normal conditions had been restored.

8. July 1, 1932 The Producers News Plentywood, MT
Article from The Producers News, July 1, 1932

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Article Text

Run on Chicago Banks The closing of the First National Bank and the First Union Trust and Savings Bank of Chicago on June 26 thru a run was averted by a speech of Melvin Traylor, president of both banks, in which he told depositors to "have faith." Four banks which closed on June 26 brought the total of Chicago banks which closed thus far this month to 39. These are among the largest banks in Chicago. Traylor's speech averted for a while the crash which is going to strike severely in the near future.