3636. Citizens State Bank (Champaign, IL)

Bank Information

Episode Type
Run Only
Bank Type
trust
Start Date
August 17, 1929
Location
Champaign, Illinois (40.116, -88.243)

Metadata

Model
gpt-5-mini
Short Digest
f5628dca924e032b

Response Measures

None

Description

Article (The Pantagraph, 1929-08-17) describes a run/heavy withdrawals at the Citizens State Bank of Champaign driven by malicious anonymous rumors and telephone calls; auditor and business leaders reassured public and the bank remained open. A second brief article (Urbana Courier, 1934) mentions a defunct 'Citizens' bank' in Champaign as predecessor/trustee issues but appears to refer to a different institution or later/other event and does not contradict the 1929 run report.

Events (1)

1. August 17, 1929 Run
Cause
Rumor Or Misinformation
Cause Details
Malicious anonymous telephone calls and rumors that the bank was insolvent; crowd gathered expecting trouble.
Random Run
Yes
Random Run Snippet
Anonymous telephone calls spread false rumor bank was insolvent
Measures
Auditor publicly declared bank sound; business leaders offered large cash deposits (advised unnecessary); some money shipped in from outside banks to reassure liquidity.
Newspaper Excerpt
There is absolutely nothing to the rumors that the bank is insolvent unable to meet its obligations,' said Auditor A. Burke
Source
newspapers

Newspaper Articles (2)

Article from The Pantagraph, August 17, 1929

Click image to open full size in new tab

Article Text

Grain Shipments Are Heavy on Springfield I. C. Line (Special to The Pantagraph.) Aug "run" State bank of the Citizens' proportions Wednesday afternoon, had abated Thursday to such an extent that deposits almost equal to withdrawals, bank offiplace of announced. In the cials crowd that tense, expectant sidewalk near the thronged the bank yesterday, normal, businesslike atmosphere prevailed, and customers came and went in quite natural "Sound," Says Auditor "There is absolutely nothing to the rumors that the bank is insolvent unable to meet its (Special The Pantagraph.) obligations,' said Auditor A. Aug Grain Burke are in sound financontinue heavy on the one who has Illinois cial any Springfield division of the bank can get It on in the Central the drop of money despite price notice, not only the two weeks Eighty cars but any day were loaded with grain on this diand the other bank Burke and were loaded Monday feel sure that the rumor officials Tuesday The loadings principally started by some malicious wheat and an was are who was denied an Corn ship- sons occasional car of corn. The loan at the institution usually starts immediately ment attorney's office Division officials ing with the bank in attempting will be some reducbelieve there to run down the rumors and pin tion in the period shipments this charges on the guilty party It has year since the price decline. been found that number of telephone calls were Mrs. Ethel Wheeler Guest made depositors, and employes at the Illinois Central shops who at Arrowsmith Reception are patrons the bank given Special The Pantagraph.) anonymous information other ARROWSMITH, Aug. ways that the bank was going to ception was given Tuesday eve the ning in the Methodist Episcopal Business Men Offer Aid. Many business men of Champaign to come to the as sistance of the bank with large cash deposits, but were advised that. while the motive of such an action was appreciated. would be quite unnecessary as the bank had plenty of money to meet all demands. Some money was shipped in from outside banks, but not more than is usual in the week's business, according to Mr. Burke.


Article from The Urbana Courier, May 21, 1934

Click image to open full size in new tab

Article Text

in circuit court today by J.R. Drake, receiver the First National Bank of Monticello, against Albert R. Grindley. The trusteeship is one executed by Elizabeth S. Dyer for perpetual care of Fisher cemetery in Hensley township. The First National bank of Monticello has been trustee as successor to the defunct Citizens' bank Champaign