gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
761e5638e836da8e
Response Measures
None
Description
Multiple articles across 1930–1933 show an initial run, temporary payouts/merger attempts, and eventual state takeover; chronology is somewhat fragmented.
Events (7)
1.January 16, 1930Run
Cause
Bank Specific Adverse Info
Cause Details
Crowd began withdrawing funds leading to a run and closure for examination.
Measures
Closed doors for an examination; suspended operations temporarily.
Newspaper Excerpt
run started ... officials the bank close doors today for an examination Louis Bomash, president of the State Bank.
Source
newspapers
2.January 16, 1930Suspension
Cause
Bank Specific Adverse Info
Cause Details
Run and steady withdrawals forced the bank to close for examination.
Newspaper Excerpt
the bank close doors today for an examination
Source
newspapers
3.October 7, 1930Other
Newspaper Excerpt
AMERICAN STATE BANK OPENS ITS DOORS TODAY ... pay off the depositors in Chicago State Bank ... agree to accept ... the assets ... enable full ... deposits accepted time certificates
Source
newspapers
4.October 18, 1930Other
Newspaper Excerpt
records show sum was not deposited in the defunct State Bank ... members ... find out $2,500 deposited ... went, the two letters that it had not deposited in the defunct State Bank
Source
newspapers
5.August 13, 1931Other
Newspaper Excerpt
citizens' committee representing Chicago State bank ... organizations representing depositors ... formed for the purpose of giving citizenship depositors
Source
newspapers
6.May 15, 1932Other
Newspaper Excerpt
State ... became the third Chicago ask depositors to come get money ... Money available pay all demands; bank will wait for better times resume operations
Source
newspapers
7.February 18, 1933Receivership
Newspaper Excerpt
STATE BANK PAYS OUT 85 PCT. OF ITS DEPOSITS; CLOSES ... board directors State Auditor ... take over the affairs the institution. bank opened ... but closed shortly thereafter ... steady drain on deposits necessitated bank closed
RUN CLOSES BANK
Depositors Withdraw Chicago Institution By CHICAGO, Jan. crowd idle, curious persons attracted police patrol, congregated in bank here week started run on the institution which officials the bank close doors today for an examination Louis Bomash, president of the State Bank. the Federal System, said after crowd had gathered, run withthan The bank had deposits of
HELD ON MURDER CHARGE
A man narcotic was held today for on by Detective he admitted he wanted the his fingerprints Bertillon checked wanted
2.October 7, 1930The TimesHammond, IN
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Article Text
AMERICAN STATE BANK OPENS ITS DOORS TODAY
Bank prospect depositors coming the two during which the bank will be open day night. positors than $200 volunteered time pay off the depositors in Chicago State Bank the latter full who desired withdraw, in of this and the interest of protecting the cash sume the liability of reserve of the Chicago State, American Mr. Barr prevented from Thomas that the D. deputy state banks merge the checking and of $200 the and agree to accept forth the merger. certificates token their money, Mr. the allow the over of the assets American the American State by the East clared depositors Chicago enable full already the bank and of deposits the accepted time certificates, sity proceedings and and expressed his optimism over the the consequent loss.
3.October 18, 1930The Afro-AmericanBaltimore, MD
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Article Text
BETHEL DREW $2,500 BEFORE BANK CRASH
Common Sense Committee Asks Officials to Show Where Money Went.
PRODUCE LETTERS
Records Show Sum was Not Deposited in Defunct Bank.
CHICAGO upon members and officials of Bethel A.M.E. Church to find out $2,500 deposited for the of Mt Sinal Temple, went, the two letters that it had not deposited in the defunct State Bank, this week. In circular in which letters from the bank's declaring that no deposit was made by Bethel officials, the quotes Bishop Carey as having told Bethel members that he and the pastor had withdrawn the money deposited it in the Roosevelt State bank.
Asks For Proof In the that the bishop, the presidelder the pastor know where the money went and suggests that the members in the form of receipts or bank book. The $2,500 referred to collected make payment on the Mt. Sinai Temple which the to buy, but which purchase was some time ago.
4.June 11, 1931The Peninsula Times TribunePalo Alto, CA
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Article Text
June 11 bankers today reassure depositors their confidence banks, 25 which locked doors the three days. Six closed On March they had total deposits of aplargest was the NorthwestTrust Savings Bank, with deposits Others were Northwestern State Bank, the Italian Trust and SavBank, the State Bank, the Lincoln State Bank, and the Town Bank. Both Melville presiof the First Union Trust group, and Arthur Reynolds, the Continental Illinois Bank Trust that they were backing outlying institutions.
5.August 13, 1931South-Side NewsChicago, IL
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Article Text
Citizens' Groups Of Closed Banks To Meet Thursday called meeting of the organizations representing depositors Bain chain now hands receiver Thursday evening the hotel. organizations, representative many communities, have been formed the purpose giving citizenship depositors. The this be tended William Stelzer, president Lawn Civie association, and Samuel Wirsching, chairman the citizens' committee representing Chicago State bank and West Lawn Trust and bank, both this immediate vicinity.
6.May 15, 1932Detroit Free PressDetroit, MI
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Article Text
Chicago Off and "Quits the Game"
CHICAGO, May State today became the third Chicago ask depositors to come get money. Deposits $2,000,000 1929 have shrunk $150,000, officials said, making it impossible to earn expenses. Started in 1926, the bank will wait for better times resume operations, was nounced. Money available pay all demands.
7.February 18, 1933Chicago TribuneChicago, IL
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Article Text
STATE BANK PAYS OUT 85 PCT. OF ITS DEPOSITS; CLOSES
After paying out more than 85 cent the last years the State bank, 801 North Clark street, day closed doors. The board directors State Auditor ward Barrett take over the fairs the institution. bank opened for business usual morning but closed shortly thereafter. Thor Thorsen, declared that steady drain on deposits necessitated bank closed its deposits At of 1930 Capital and are The bank an with banks.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
