Second National Bank (Chicago, IL)

Episode Information

Episode UID
22500778
Episode Type
Run Only
Bank Type
national
Bank ID
2250 national
Charter Number
225
Start Date
October 1, 1864*
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
74e35efdea4fd958

Response Measures

None

Other: The articles mention a run on every Chicago bank in 1864/1865, but do not specify the specific measures taken by the Second National Bank to resolve it, other than a general agreement among banks to close for a holiday (Sanitary Fair).

Description

Articles 2 and 3 describe a city-wide run in Chicago in October 1864 (40 years prior to the 1904 publication date). Article 1 confirms the bank's existence and operation in Chicago in 1865.

Events (4)

1. February 1, 1864 Chartered
Source
historical_nic
2. October 1, 1864* Run
Cause
Local Banks
Cause Details
Suspension of one institution triggered a run on all other Chicago banks.
Newspaper Excerpt
A run was in progress upon every Chicago bank because of the suspension of one institution.
Source
newspapers
3. May 30, 1865 Other
Newspaper Excerpt
the banks in ,the city will be closed, and business all over the city will be partialiy suspended. ... Edward I. Tirkham. Cashier Second National Bark
Source
newspapers
4. September 25, 1873 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)

Article from Chicago Tribune, May 30, 1865

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Article Text

Here the market was rather dull, with sales on the street at 185@135f-closing firm. Oa the Stock Board there was also a very moderate bueine's done at the morning session at 136@136}, while at the afternoon session transactions were of such 2 triding nature that no report was made. Silver is in limited demand and quiet at 1227123 for large, and 120 for small. Government Bonds were weaker, with but little doing. We quote : Buying. Selling. 1021 1031 Five-Twentles 91 941 Ten-Forties On the Stock Board old Five-Twenties were offered at 103, with bids of 102. Nosales transpired. In local stocks there was nothing done on the Steck Board. Cook County Scrip Was firm, with buyers of old at 971, of February dates at 95, and 911 for new. The latter are generally held at N@ 954. Bank Stocks were neglected. The only bid was 90 for Fourth National, with sellers at par. Equitable Insurance Stock was offered at 43, with buyers at 89. Chamber of. Commerce was in request at 93, and there were sellers at 99. To-morrow (Tuesday) being the opening day of the Sanitary Fair, the banks in ,the city will be closed, and business all over the city will be partialiy suspended. The Board of Trade and Stock Exchange, however. meet as usual. The following agreement was signed by the various bankers in the city : CHICAGO, May 29, 1865. We, the undersigned, Banks and Bankers, agree to c:ose our places of business on Tuesday, May 30th. E. E. Braisted, Cashier First National Bank; J. M. Holmes, Cashier Third National Bank; Robt. Reld, Agent Bank of Montreat: L. J. Gage, Cashier Merchants' Savings Loan and Trust Compaby; S. Sturges' Sons: George Starges, Cashier; A. C. Badger & Co.; J. O. Ruver, President; H. R. Symonds, Cashier Merchants' National Bank; Charles J. Connell, Cashier Union National Bank Edward I. Tirkham. Cashier Second National Bark: J. Young Scammon, President; D. J. Lake. Cashier Manufacturers' National Bink: Joefah Lombard. President; H. Doolittle, President Producers' Bank. - The Producers' Bank has removed from its old location to the new and beautiful banking rooms on the northeast corner of Clark and Lake streets. Thisl one of the best locations in the city. Mr. Doolittle, the President of the Producers' Bank, is one of the oldest and best known bankers, and the Board of Directors and other officers are composed of well appreciated financiers The Producers' Bank has been the recipient of an excellent and growing business, and we doubt not its good management and facilities for doing business will attach old friends and continually attract new ones. - New York exchange in New Orleans on the 20th was scarce and firm at IC: prem. - Oil stocks in Pittsburgh on the 27th were dull. Sales were at the following quotations: Cherry Run and Blood, 82c; El Dorado, 50c; Fieming & Blood, 97e. - New York exchange in St. Louis on the 27th wasplenty at par buying and 1 prem. selling. -We observed in the proceedings of the Court of Common Pleas at Philadelphis, a few days since, a case where certain parties who were "cornered' in & certain petroleum stock-the Walnut Bend-brought a suit in equity against the corpering party for conspiracy, and invoked the protection of ite Court for the non-delivery of the stock. This carries us back to the early history of Wall street, when the Board of Brokers, in the case of a certain canal stock which was cornered, decided that it was illegal. But that decision has been revoked, and "corners" since that have been regarded as legitimate transactions. If the courts were appealed to in this market every time that gold, whest, or oats were "cornared," the lawyers would be kept busy. - Oil stocks in Philadelphia on the 20th were very dull. The following were the closing quotations: PER PORT Die -


Article from The Miller Sun, October 12, 1904

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Article Text

forty Years Ago. A run'was in progress upon every Chicago bank because of the suspension of one institution. The propeller Ogdensburg, which 12 years before on Lake Erie had collided with and sunk the steamer Atlanta with great loss of life, itself was sunk in a collision off Cleveland, O. The citizens of Belleville, III., were preparing to resist a threatened in vasion by a detachment from General Price's Confederate command. Drafting from the city of Chicago was commenced, the Sixth and Eighth Wards being first drawn upon. A sudden movement by Generals Grant, Ord and Birney carried the Union lines to within four miles of Richmond, Va., on the south.


Article from Vernon County Censor, October 12, 1904

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Article Text

# forty Years Ago. A run was in progress upon every Chicago bank because of the suspen-sion of one institution. The propeller Ogdensburg, which 12 years before on Lake Erie had collided with and sunk the steamer Atlanta with great loss of life, itself was sunk in a collision off Cleveland, O. The citizens of Belleville, Ill., were preparing to resist a threatened invasion by a detachment from General Price's Confederate command. Drafting from the city of Chicago was commenced, the Sixth and Eighth Wards being first drawn upon. A sudden movement by Generals Grant, Ord and Birney carried the Union lines to within four miles of Richmond, Va., on the south.