Lincoln State Bank (Chicago, IL)

Episode Information

Episode UID
2020071578
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
state
Bank ID
202007 routing
Routing Number
2-0200
Start Date
June 10, 1931
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
419436e02dc4fb37

Response Measures

None

Description

Closings described as part of a wave after affiliated Foreman-State Bank absorption; Lincoln State Bank listed among those that closed.

Events (2)

1. June 10, 1931 Run
Cause
Local Banks
Cause Details
Heavy withdrawals and uneasiness triggered by absorption/closing of affiliated Foreman-State Banks and related institutions, causing runs on outlying neighborhood banks.
Measures
Larger downtown banks sent truckloads of cash to bolster smaller outlying banks.
Newspaper Excerpt
Five more outlying banks today closed their doors, yielding wave of uneasiness among depositors which has swept the city in the last few days.
Source
newspapers
2. June 10, 1931 Suspension
Cause
Local Banks
Cause Details
Suspension/closure followed heavy withdrawals after affiliated banks were absorbed or taken over, leaving outlying banks orphaned.
Newspaper Excerpt
The banks closed today are: Northwestern Trust and Savings Bank ... Cragin State Bank and Lincoln State Bank
Source
newspapers

Newspaper Articles (4)

Article from The Chicago Defender, August 9, 1930

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Article Text

3 Chicago Banks Closed by State Continued from Page fender reporters to get touch with this paper be cleared up. the Bankers that time it was State failed, and futile attempt Mr. Flowers at present "some- other national the city in Florida. 47th and South that an at the State tempt made consolidate Inquiries Binga bank Binga State, Douglass National the day of the closing brought and the Whatthe answer have no statemade it also fell give the Citizens State bank TuesPresident Overton of the Douglass National willing throw his bank withstand aid to Mr. Binga, but the fashthat Binga The The closing of the Binga Institu- said stricken have declined into the deal depositors in banks start because felt the paper held run which few the Binga State bank wasn't as survive brought about by security the Lincoln State bank strange then Mr. Binga is About year ago several directors aid Insull pursued certain officials, power in Chicago and the Middle directors, Mr. Insull check would about some embarrasing $200,000 and sent it the bank, situations. the that reported that the bank inthe full amount up. The time given short the that unable the rental The closing Thursday Last January the bank ex. Thursday night the directors visited they held meeting. talk satisfied the methods The loan there those who bethe Binga State bank have that penny the bank The lost depositors. This bank not be about until the bank living up to the letter of go over Asked to Clean Up Paper committee was appointed is that Mr. Binga say consisting Webb, be the comptroller of the Pullman the those ters Benevolent chair instead Again rumored that man; R. the being entirely group the bank races Eighth infantry the of national guardsmen; John the Dunbar in New Marshall, vice president of the bank York parole the State bank was organized 1908 the Eighth Illinois: Mr. Ebenezer Dr. Wilberforce Williams. state This committee, according and capital now to the workings the $45,000 and deposits bank, upon of discovered existence heavy worth loans. by and heavier This discovery brought in the bank sums $28,000 examiners again and and other large sums the mittee have reported the paved the posisum much larger than first placed Since the month of May the state have that the assets and effected


Article from The Capital Times, June 10, 1931

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Article Text

Three Chicago Banks Closed Heavy Result in Suspension Northwestern Trust one largest northwest open its doors morning the result of heavy withdrawals the two days Deposits of March 25 were $14,The bank one of the chain affiliated with the group, whose absorbed Monday by the First National Within few minutes of this anword the auditor's office that neighboring northwest bank and one south Negro district voluntarily as the result of withdrawals. These Northwestern State bank, with $3,Lincoln State bank, deposits The Chicago House assothrough leading memTuesday adopt off" policy in the caused by the locking up 19 outlying banks on Monday and Tues-


Article from Democrat and Chronicle, June 11, 1931

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Article Text

DIARY THROWS 5 MORE BANKS NEW LIGHT ON SHUT DOORS IN DEATH OF GIRL CHICAGO AREA Held to Support Faithful Murder Theory; Examiner Says She Was Drowned Mineola, June 10-(P)-A diary by Starr Faithful, whose body washed ashore at Long Beach Monday, has been found DistrictAttorney Elvin E. Edwards announced tonight He declined to reveal Its contents. but said they were "very important and strengthened his theory that the 25-year-old beauty been slain. Edwards declined to say where the diary was found. but said it not been turned over to police the family of the girl. having been obtained by Lieut Theodore Magee of the missing persons bureau of the Nassau police Family Questioned On returning from Boston tonight, the spent several hours questioning members of the Faithful family, Mr. and Mrs. Stanley E. Faithful and particularly another daughter, Sylvia Tucker Faithful. At late hour tonight they were permitted to turn to their home in New York The attorney also an, nounced that Martin W. Littleton. assistant district-attorney and Detective Joseph Culkin had obtained tion from two Coast Guardsmen He declined to disclose the nature of the information. Edward's medical advisor How ever. announced that the girl died of drowning and that she was neither drunk nor drugged when Edwards took extradition papers and confession blanks to Boston with him, but when he left again for New York the blanks were still blank and his medical advisor's report seemed to indicate that the whole theory on which he had been working was faulty While Edwards in Boston was questioning Francis Peabody Ham lin. steamship company man who had known Miss Faithfull and who volunteered to tell what he knew of her recent movements Stanley gave an interview to reporters here. Denies Naming Bostonians He acknowledged having given police information that turned their attention to Boston, but denied he had mentioned any politician or physician in connection with the During the Interview the names of several Bostonians were menFaithfull said he did not know and Mrs. Faithfull's first husband, Frank Wyman. A reporter remarked that the City Department of Hospitals confirmed the report that Miss Faithfull had been taken to the psychopathic ward of Bellevue Hospital 1930. the records showing that she was detained one day for Mr. Faithfull late today. after sttending his daughter's funeral services, explained he had denied statement that Start had spent night in Bellevue Hospital in the hope of preserving her reputation. He added that he mixed four drinks for Starr and young woman friend in the Faithfull apart ment on March 30 and then left The next afterthe apartment. noon Starr was in Bellevue and he and Mrs Faithfull went there take her home He later learned from the other whom he declined young name, that Starr drank all four cocktails and was later introduced by her friend to a Joseph Collins Mr. Faithful added he had sought Collins in vain ever since. He said the drinks were diluted with water the strength of about three or dinary Dr. Means S. Gregory head of the psycropathic department Bellevue, said today that Miss Faithful was in the hospital overnight March 30-21 1930 She had been found in a hotel in West 60th Street in the presence of man who identified himself an ambu lance surgeon as her husband Records showed her listed at the hospital as Marie Collins. later corrected to Starr Faithfull. Dr. Gregory said "Helen Faithfull her mother her father Stanley E. Faithfull, came in the next morning an in sisted they take her She discharged in the custody of her parents. The diagnosis was "alcoholism acute," and under the notation was written tusions face, jaw and upper lip. Miss Faithfull made statement in which she said was drink gin as far as know This first time have drunk any thing in six months and had nothing until yesterday I don know had. don't how many remember suppose someone knocked me around bit. Large Institutions Provide Ample Funds; Uneasiness Reported on Decline Chicago, June -(Special Dispatch)- Five more outlying banks today closed their doors, yielding wave of uneasiness among depositors which has swept the city in the last few days. Since Monday 24 banks either have been closed by the state auditor, or have merged with other institutions. There were six closings or mergers Monday 13 yester day and six today. The banks closed today are: Northwestern Trust and Savings Bank, Second Northwestern State Bank (affiliated with the above). Italian Trust & Savings Bank, Cragin State Bank and Lincoln State Bank The suspension of the two Northwestern banks was an aftermath of the absorption of the ForemanState Banks Monday by the First National Bank These outlying institutions had been affiliated with the Foreman-State Banks and were "orphaned" when the big downtown institution was taken over Many other smaller banks in various parts of the city and suburbs were withstanding heavy runs, bolstered up by cash from downtown banks of larger capitalization which so far have not felt the pinch of lack of public confidence. The larger banks have sent truckload after truckload of money to their smaller contemporarie and it was said in various financial quarters that they would continue so far as is consistent with good banking principles. "We are supporting the outlying banks to the fullest extent possible, said Arthur Reynolds chairman of the Continental Illinois Bank & Trust Company the larg. est financial institution in the ity "We have sent out millions and will continue to do so until public confidence is restored. It is curious thing that some of the strongest neighborhood banks in Chicago have been subjected to the heaviest withdrawals But conditions today seem to be improving and there are signs that uneasiness is lessening Both today and Tuesday It appeared that several of the banks had closed their doors, following application to the state auditor, rather to conserve their assets than because they were in an unsound Loans on "frozen curity. good eventually but not immediately turnable into cash, reported to be the general


Article from The Peninsula Times Tribune, June 11, 1931

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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.