Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health
Receivership Details
Depositor recovery rate
71.9%
Date receivership started
1931-05-19
Date receivership terminated
1940-10-23
OCC cause of failure
Economic conditions
Share of assets assessed as good
35.1%
Share of assets assessed as doubtful
61.6%
Share of assets assessed as worthless
3.3%
Description
Syndicated reports (Jan 2–3, 1931) describe an incipient/ threatened run on the Albany Park National Bank & Trust Co. that was routed; the bank brought in $2,000,000, posted reassuring signs, and hired a jazz band. A neighboring National bank's closure precipitated the scare. There is no mention of a suspension, receivership, or permanent closure.
Events (3)
1.May 28, 1920Chartered
Source
historical_nic
2.January 2, 1931Run
Cause
Local Banks
Cause Details
A neighboring National bank closed (reports say a nearby bank was closed, prompting depositors to gather at Albany Park), triggering an incipient run.
Measures
Posted sign reassuring customers, brought in $2,000,000 in cash from downtown banks, assured patrons the bank was sound, and hired a jazz band to calm/entertain the crowd.
Newspaper Excerpt
You can have your money any time you want it, brought in $2,000,000 cash from downtown banks and assured patrons the bank was sound. Then they hired a jazz band to play and the crowd made a party of it.
Source
newspapers
3.May 19, 1931Receivership
Source
historical_nic
Newspaper Articles (10)
1.January 3, 1931The News and AdvanceLynchburg, VA
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Article Text
Jazz Orchestra Checks Incipient Run On Bank
Chicago, Jan. 2 (AP)-Jazz notes came to the rescue of today and routed an incipient the Albany Park National Bank on and Trust Company. Mob psychology starts the stop them. When neighboring national bank this the Albany bank officers. wasted no time for threatened run. While preparing depositors were collecting at the door. they up sign "you can have your put money any time you want It." brought in $2,000,000 cash from downtown and assured patrons the bank banks was sound. Then they jazz band to play and the crowd made party of It.
SURPRISE! one of the most surprised men in the country. After elections recently he was informed that was elected county surveyor. He hadn't filed for office. but had by complimentary vote of 11 ballots, no other person had filed for the office.
South Jan. B. Stemple Hudson, game wardens county be the possible that the closes tomorrow January 3, 1931, minutes after sunset. are few counties the exempt from the regulation closing the at time, these counties are located in the extreme eastern of the state. According to the commission and the there is however, the regulation closing the season this time which prohibit fox hunting, night with dogs, wild water fowl, huntnor owners, their children tenants from hunting rabbits and squirrels on their premises, or rabbits killed when doing fruit trees the laws and regulations in regard thereto.
D. C. Holds Meeting The Halifax County chapter of the United Daughters of the Confederacy held its meeting yesterday afternoon at the home of Mrs. Hodges on Halifax road. The recent resignation of Mrs. A. L. Micou as president, necessi-
2.January 3, 1931The Houston ChronicleHouston, TX
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JAZZ BAND STOPS THREATENED RUN ON CHICAGO BANK
By Associated Press. Chicago, Jan. 3.-Jazz notes came to the rescue of bank notes Friday and successfully routed an incipient run on the Albany Park National Bank and Trust Company. Mob psychology starts runs, the bankers figured, so psychology ought to stop them. When neighboring national bank closed yesterday. the Albany bank officers wasted no time preparing for a threatened run. While depositors were collecting at the door, they put up sign: "You can have your money any time you want it," brought in $2,000,000 cash from downtown banks, and assured patrons the bank was sound. Then they hired jazz band to play and the crowd made a party of it.
3.January 3, 1931St. Louis Post-DispatchSt. Louis, MO
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JAZZ BAND HALTS RUN ON NATIONAL BANK IN CHICAGO
Officers Entertain Crowd After Informing Customers They Can Have Money. By Press. CHICAGO, Jan. 3.-Jazz notes came to the rescue of bank notes yesterday and prevented a run that seemed in prospect on the Albany Park National Bank & Trust Co. Mob psychology starts runs, the bankers figured. so psychology ought to stop them. When a neighboring National Bank closed yesterday morning, the Albany Bank officers wasted no time preparing for a threatened run. While depositors were collecting at the door, they put up a sign, "You can have your money any time you want it," brought in $2,000,000 cash from downtown banks and assured depositors the bank was sound. Then they hired a jazz band to play and the crowd made a party it.
4.January 3, 1931Hartford CourantHartford, CT
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Jazz Band Helps Stop Threatened Run On Bank in Chicago Chicago. Jan. notes came to rescue of bank notes today and successfully routed an incipient the Albany Park National Bank and Trust Company. Mob psychology starts runs, the bankers figured, psychology ought stop them. When neighboring national bank closed morning, the Albany bank officers wasted time preparing threatened While depositors were collecting at the door, they put up sign can have your money time want brought $2,000,000 cash from downtown banks and assured patrons bank was sound. Then they hired jazz band to play and the crowd made party of it.
5.January 3, 1931Spokane ChronicleSpokane, WA
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Article Text
JAZZ HALTS RUN ON CHICAGO BANK came to the rescue of bank notes today and successfully reuted an incipient run on the Albany Park National Bank and Trust company. Mob psychology starts runs, the bankers figured, so psychology ought to stop them. When neighboring national bank closed this morning, Albany bank officers wasted no time preparing for threatened run. While depositors were collecting at the door, they put up sign, "You can have your money any time you want it." brought in $2,000,000 cash from downtown and assured patrons was sound. Then hired jazz band play. and the crowd made a party of it.
6.January 3, 1931The Spokesman-ReviewSpokane, WA
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Article Text
JAZZ HALTS RUN ON BANK
Band Tootles and Soothes Panicky CHICAGO. Jan. came to the rescue bank today and an incipient the Albany Park National Bank and Trust company. Mob starts runs, the bankers ought boring closed morning, officers wasted time preparing threatened While collecting the door, they put up can money any you brought from assured pa the bank was Then hired jazz band and the crowd made party
7.January 3, 1931The Miami HeraldMiami, FL
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RUN ON CHICAGO BECOMES DANCE PARTY
Chicago, Jan. notes came to the rescue bank notes today and successfully routed an incipient on the bany Park National Bank and Trust Company. Mob psychology starts runs, the bankers figured, pyschology ought stop them. When federal examiners closed the Lawrence avenue bank, neighborhood institution, the Albany bank officers wasted no time preparing threatened their bank the closed. While depositors collecting the door, they put sign, your money any time want brought $2.000,000 from downtown banks and assured patrons the bank sound. Then they hired jazz band to play and the crowd made party
8.January 3, 1931The Macon NewsMacon, GA
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Article Text
Curiosities In The News
JAZZY BAND ENDS CHICAGO, Jan. 3. (P)-Jazz notes clime to the rescue of bank notes today and successfully routed an incipient run on the Albany Park National Bank and Trust company. Mob psychology starts runs, the bankers figured, SO psychology ought to stop them. When neighboring National bank closed Friday morning, the Albany bank officers wasted no time preparing for a threatened run. While depositors were collecting at the door, they put up a sign, can have your money any time you want it," brought in $2,000,000 cash from downtown banks and assured patrons the bank was sound. Then they hired jazz band to and the crowd made party of
THEN YOU'LL BE A SON Not in any spirit of criticism but that there may be no room for misunderstanding, the Gloucester police chief has presented each his 12 policemen with the following rules: must be ten minutes ahead of reporting to relieve officers on Policemen must not get intoxicat-
Policemen must not be disobedient. Policemen must not use indecent Policemen must not use any unnecessary loud must not sleep while on th shall be immorality in department There shall be no lack of energy on the part of must not visit gambling houses any where the laws are being violated except in the line Policemen must not criticize their Policemen must accept any bribes. must not visit places of Policemen amusement while must not leave their Policemen
AGED NEW YORK POOR GET CHARITY WAGES
NEW YORK Jan. on charaged poor their first monthly them receiving from and paid each aged In York City was of where was the new about $30. under the old age penPayments last are provided signed and city. All ratio by state Demeficiarles equal are 70 of age or
Relief agencies in New York City the pensions come the
PPIES NOT DISTI RBED BY BLAST FIRE LOS Charles Anderson left three pup in the rear his he operates, and barber shop When he for filled his and returner he pipe terrific explosion followed. out of the was door that went building through One wall the apart with windows ment out the the fire for burns and the three pups about found they had tugging The unharmed.
TO RESIST
POSITION BANDIT Jan. to both hands of food. planned at home without flashed pistol and said robber "But thing Rhodes the robber and his the right hand trouser right Rhodes hopefully the robber had his way continued the partment the food
ASHES OF LIFE ATHERED BY at the $250,000 Mountain in of Purple the of the republic It will be 220 feet and have 15
Northern motor ship Star for the rpool York service. be under construction She be of christened Georgic 000
The 28,627 New York ruction of the French
Italy-A bronze head dating from the fifth has fished out of Salerno near the River
SIMFERPOL of the tenth anniversary the Soviet regime in Crimea sentenced jail for or less is to be let except political plotters and funds
Italy-If eight men conkilling two fascisti found they must go to jall for ranging from 15 terms gather the and the men They dence tried the same.
MOTION TO BE HEARD clerk the the motion for trial Austin for of set for hearing and killed of their station
9.January 3, 1931Ledger-EnquirerColumbus, GA
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MUSIC HALTS RUN Chicago, Jan. notes came to reacue of bank notes today and successfully reuted an incipient run on the Albany Park National Bank and Trust company. National Bank When neighboring closed this morning, the Albany bank officers put up sign on the door, saying, "you can have money any time you want it,7 brought in $2,000,000 cash from downtown banks and assnred patrons the bank was sound. Then they hired jazz band and to play and the crowd made party of it. eral days.
Dana and Cecil Johnson, who have been with their parents, Mr. and Mrs. Early Johnson, during the holidays, will return Sunday to Georgia Tech where they are students this year.
The many friends of Mrs. J. A. Webb will be grieved learn that she is seriously III at the city hospital.
Mrs. Tom Huston la the guest of friends in Macon for several days.
Miss Margureite Dennard returned and Poole have Miss home Helen after visit to relatives and friends in Atlanta.
Miss Dorothy Hoffman. who has and guest of her eister been the and Mrs. brother. Knight Jr., Mr. returns today to New York, where she is a student at Columbia college.
Miss* Adelaide Fleming, who Helen has of Miss been Fleming the during guest the holidays. has returned to in Atlanta Miss Fleming was delightfully entertained during her visit.
Mrs. M c. Barlow, who has been the guest of Mrs. Frank Dean in Montgomery, has returned
Mr. and Mrs. F. C. Craig announce birth of January 2, who has been named Clayton
10.January 3, 1931The Roanoke TimesRoanoke, VA
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Article Text
JAZZ BAND HALTS RUN ON BANK NEAR CHICAGO notes came the rescue of bank notes day and successfully routed cipient on the Albany Park NaBank and Trust Company Mob psychology starts the ought to stop them neighboring national bank closed this morning, the Albany Bank officers wasted time preparing for threatened run. While depositors were collecting the door they up sign. "You can have your money any you want brought in 000,000 from town and assured patrons the bank Then they jazz band to play end the crowd made party of
