Fourth National Bank (Chicago, IL)

Episode Information

Episode UID
27600778
Episode Type
Run Only
Bank Type
national
Bank ID
2760 national
Charter Number
276
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
4bea698b5f55b0bd

Response Measures

None

Receivership Details

Depositor recovery rate
51.0%
Date receivership started
1876-02-02
Date receivership terminated
1886-03-04
OCC cause of failure
Losses
Share of assets assessed as good
12.1%
Share of assets assessed as doubtful
58.5%
Share of assets assessed as worthless
29.4%

Description

The articles describe a city-wide run on all Chicago banks in 1864 (40 years prior to the 1904 publication date).

Events (3)

1. February 24, 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. February 2, 1876 Receivership
Source
historical_nic

Newspaper Articles (2)

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.