Northwestern Trust & Savings Bank (Chicago, IL)

Episode Information

Episode UID
2004271467
Episode Type
Run Only
Bank Type
trust
Bank ID
200427 routing
Routing Number
2-0042
Start Date
March 24, 1922
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
721fb856762eca52

Response Measures

None

Events (1)
1. March 24, 1922 Run
Cause
Rumor Or Misinformation
Cause Details
False rumors/anonymous letters circulated alleging the bank was unstable, prompting mass withdrawals.
Measures
Bank officials paid out deposits; Federal Reserve and other banks sent large cash shipments; police deployed and reward offered for rumormonger.
Newspaper Excerpt
A special detail of police armed with rifles was called today to control thousands who besieged the Northwestern Trust & Savings bank to withdraw deposits following a false rumor that the institution was unstable.
Source
newspapers

Newspaper Articles (10)
1. March 24, 1922 Palatka Daily News Palatka, FL
Article from Palatka Daily News, March 24, 1922

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Article Text

Armed Police Are Called to Prevent Bank Run Rioters (By Associated Press) Chicago, March 24.-A special detail of police armed with rifles was called today to control thousands who besieged the Northwestern Trust & Savings bank to withdraw deposits following a false rumor that the institution was unstable. The bank offered a $5,006 reward for the arrest of the person starting the rumor. The bank is declared to be the strongest in Chicago of its size. The Federal Reserve bank sent it three quarters of a million dollars in cash to withstand the run and another bank sent one million dollars.

2. March 24, 1922 Richmond Daily Register Richmond, KY
Article from Richmond Daily Register, March 24, 1922

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Article Text

NEEDLESS RUN ON CHICAGO BANK (By Associated Press) Chicago. Mar. 24-A special detail of 25 policement with rifles was called today to control thousands of persons who besieged the Northwestern Trust & Savings Bank to withdraw deposits, following a false rumor that the condition of the institution was unstable. The bank's resources are $20,000,000; deposits $18,000000. ,A'reward of $5,000 was offered'for identification of the person responsible for the rumors. The bank is declared the strongest in Chicago.

3. March 24, 1922 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, March 24, 1922

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Article Text

WOMEN INJURED IN WILD RUSH SECURE MONEY (By Associated Press) CHICAGO, Mar. 24-Several women were today crushed and trampled in a scramble of depositors of the Northwestern Trust and Savings bank on the Northwest Side of Chicago. The run is said to have resulted from false rumors concerning the bank's financial strength. Bank officials were busy paying out money as fast as depositors could be served, and other banks are said to be ready to supply all the cash needed. John F. Smulski, head of the bank, and national Polish leader, announced a reward of $5,000 for information leading to the identity of the persons responsible for the run. Twelve policement tried to keep the depositors in line. The jam became so great outside the bank that finally 100 policemen, 25 armed with rifles, were placed on duty there. Dozens of women were carried into the bank in a fainting condition. The Federal Reserve Bank, of which the Northwestern is a member, sent $750,000 in an armored car to the bank. The Continental and Commercial National bank sent $1,000,000

4. March 24, 1922 The Seattle Star Seattle, WA
Article from The Seattle Star, March 24, 1922

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Article Text

BLAME ANIMUS FOR BANK RUN CHICAGO, March 24. - The at. tempted run on the Northwestern Trust & Savings bank, in which hundreds of foreign born desopitors stormed the Institution and demanded their money, was laid to a plot today. Enemies of John F. Smulski, former state treasurer and president of the bank, wrote anonymous letters, causing the panic, investigators claim.

5. March 24, 1922 Richmond Daily Register Richmond, KY
Article from Richmond Daily Register, March 24, 1922

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Article Text

NEEDLESS RUN ON CHICAGO BANK (By Associated Press) Chicago. Mar. 24-A special detail of 25 policement with rifles was called today to control thousands of persons who Desieged the Northwestern Trust & Savings Bank to withdraw deposits, following a false rumor that the condition of the institution was unstable. The bank's resources are $20,000,000; deposits $18,000000. A'reward of $5,000 was offered for identification of the person responsible for the rumors. The bank is declared the strongest in Chicago.

6. March 25, 1922 Bisbee Daily Review Bisbee, AZ
Article from Bisbee Daily Review, March 25, 1922

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Article Text

PICKPOCKETS BUSY DURING RUN ON BANK Run on Chicago Bank Halted; Pickpockets Make Hauls Among Depositors CHICAGO, Mar. 24. .-Plekpoekets. plying thir trade in acrowd of 2,000 depositors who stormed the Northwestern Trust & Savings Bank today, following circulation of rumors that the bank was insolvent, robbed two aged women of their savings of a lifetime. Police reports say a Polish woman, whose name was not learned, lost $2,000 when a man snatched her handbafi as he left the bank, and disappeared in the crowd. One hundred policemen, 25 armed with rifles, who were on duty at the bank to keep order in the surging crowd of depositors, failed to find the man, and in the excitement the victim disappeared. Later, Mrs L. Zukowski reported to bank officials that a pickpocket stole $700 she had just withdrawn. The run was halted this afternoon after the 2,000 depositors had filed past a teller's cage in which $1,100,000 in currency lay piled on the counters. The federal reserve bank and two local banks sent $1, 850,000 to the bank in armored cars during the day, and the Continental and Commercial Bank offered $20,000,000 if needed. The clearing house and federal reserve bank both issued statements declaring the bank is sound and the rumors false.

7. March 25, 1922 The Washington Times Washington, DC
Article from The Washington Times, March 25, 1922

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Article Text

PICKPOCKETS PLY TRADE DURING RUN ON BANK CHICAGO, March 25. - Pickpockets plying their "trade" in a crowd of 2,000 depositors who storm ed the Northwestern Trust and Savings Bank vesterday, following circulation of rumors that the bank was insolvent, robbed two aged women of their life savings. Police reports say one woman lost $4,000 when a man snatched her handbag as she left the bank. One hundred policemen. twenty-five armed with rifles, who were on dury, failed to find the man. Later Mrs. L. Zukowski reported to bank officials that a pickpocket stole $700 she had just withdrawn. The run was halted after 2,000 depositors had filed past a teller's cage in which $1,200,000 in currency lay piled on the counters. The Federal Reserve Bank and two local banks sent $1,850,0000 to the bank during the day and the Continental and Commercial Bank offered $20.000,000 if ne ded. The clearing house and Federal Reserve Bank issued statements declaring the bank was sound.

8. March 27, 1922 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, March 27, 1922

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Article Text

FALSE RUMOR CAUSES RUN ON CHICAGO BANK Special Detail of Police. Called On To Control Misinformed Depositors Chicago, March 25.-A special detail of 25 police, armed with rifles was called upon today to control thousands of persons who besieged the Northwestern Trust and Savings Bank to withdraw their deposits following a false rumor that the condition of the institution was unstable. Several women were crushed in the scramble to enter the bank. Their injuries and the fear of hundreds of other depositors were the outgrowth of false rumors concerning the bank's financial strength. Bank officials were paying out money as fast as the depositors could be served and other banks were said to be ready to supply all the cash needed. John F. Smulski, president of the bank, announced an offer of a reward of $5,000 for the identity of the person responsible for the false rumors. The bank was declared by bank examiners as the strongest bank in Chicago in proportion to its size. The last statement showed resources approximately of $20,000,000 and deposits of $18,000,000. The federal reserve bank of which the Northwestern is a member, sent $750,000 in an armored car to the M besieged bank. The Continental and Commercial National Bank sent $1,000,000.

9. March 30, 1922 The Telegraph-Courier Kenosha, WI
Article from The Telegraph-Courier, March 30, 1922

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Article Text

WOMEN CRUSHED IN RUN ON BANK Depositors of Chicago Bank Are Paid Off Just as Rapidly as Money Can Be Handed Out. (By Associated Press Leased Wire.) Chicago. - Several women were crushed and trampled in a scramble of depositors of the Northwestern Trust and Savings bank on the northwest side of Chicago, in attempting to enter the bank this morning. Their injuries and fear of hundreds of other depositors were the result of false rumors concerning the bank's official strength. Bank officials were paying money as fast as the depositors could be served. The bank was declared by bank examiners, , as "the strongest in Chicago" in proportion to its size. A crowd of depositors gathered in front of the bank last night. There were angry demonstrations and several persons were in danger of injury until police arrived. Mr. Smulski, president of the bank, informed the throng the bank was safe and that all of them who desired could have their money in the morning.

10. March 31, 1922 The Idaho Recorder Salmon, ID
Article from The Idaho Recorder, March 31, 1922

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Article Text

FALSE REPORT CAUSES RUN ON CHICAGO BANK Women Are Crushed in Scramble of Depositors to Withdraw Deposits Chicago. - Several women* were crushed and trampled in 8 scramble of depositors of the Northwestern Trust and Savings bank on the northwest side of Chicago Friday morning. The run was said to have resulted from false rumors concerning the bank's financial strength. Bank officials were paying out money as fast as the depositors could be served and other banks were said to be ready to supply all the cash needed. John F. Smulski. head of the bank, announced a reward of $5,000 for information of the identity of the person responsible for the run. The bank's last statement showed resources of $19,458,277 Early in the day depositors began gathering. The bank ,officials arrived early. Twelve policement tried to keep the depositors in line. The crush became so great outside the bank finally that 100 policémen, 25 of them armed with rifles, were placed on duty there. Dozens of women were carried into the bank in a fainting condition. The Federal Reserve bank. of which the Northwestern is a member, sent $750,000 in an armored car to the bank. The Continental and Commercial Na. tional bank sent $1,000,000.