4109. Bible Grove State Bank (Bible Grove, IL)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
December 1, 1925*
Location
Bible Grove, Illinois (38.872, -88.446)

Metadata

Model
gpt-5-mini
Short Digest
88708437

Response Measures

Capital injected, Full suspension, Books examined

Other: Stockholders furnished funds to make up deficiencies; state banking expert examined and certified safety.

Description

Newspapers report a depositor run that exhausted resources, causing the bank to close temporarily; stockholders supplied funds and a state banking expert declared the bank safe. Reopened reported as Tuesday morning in papers dated 1925-12-19 and 1925-12-24 (Tuesday 1925-12-15). Cause of the run is described only as a depositor run/panic (no specific fraud or false telegram), so classified as rumor_or_misinformation/unspecified rumor/panic.

Events (3)

1. December 1, 1925* Run
Cause
Rumor Or Misinformation
Cause Details
A depositor run/panic a few days before closure; no specific factual trigger described in articles
Measures
Stockholders raised money to cover deficiencies; state banking expert assisted to restore confidence
Newspaper Excerpt
the run made on the bank by its depositors a few days ago which almost exhausted the bank's resources
Source
newspapers
2. December 1, 1925* Suspension
Cause
Rumor Or Misinformation
Cause Details
Temporary closing of doors following the depositor run that nearly exhausted the bank's resources
Newspaper Excerpt
caused it to close its doors and quit business for the time
Source
newspapers
3. December 15, 1925 Reopening
Newspaper Excerpt
The Bible Grove State Bank reopened its doors Tuesday morning and resumed business after passing through a period of distressing uncertainty
Source
newspapers

Newspaper Articles (2)

Article from Effingham Daily Record, December 19, 1925

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Article Text

BIBLE GROVE OPENS DOORS The Bible Grove State Bank doors Tuesday morning and resumed business after passing through period of distressing uncertainty which looked for time as though the banking business in Bible Grove was at an end. The of the most recent cause trouble was the "run" made the bank by its depisitors few days ago which almost exhausted the bank's resources and caused it to close its deors and quit business for the time. Public meetings have been held ing the past few days in Bible Grove at which explanations were made and assurances given the people that if they would stand back of the bank with their confidence and patronage the stockholders would guarantee its future safety. The people have sponded favorably to these appeals and money has been secured by the stockholders to make up for all ficiencies. The bank is now declared to be safe and sound by the state banking expert who has been in Bible Grove the past few days helping get matters straightened out and confidence restored. There is no need for any future "runs" on the bank as the experiences of the past few weeks will have dency to cause of great amount of caution on the part of those connected with the Clay CounRepublican.


Article from The Teutopolis Press and Dieterich Special Gazette, December 24, 1925

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Article Text

BIBLE GROVE BANK OPENS DOORS The Bible Grove State Bank reopened its doors Tuesday morning and resumed business after passing through a period of distressing uncertainty which looked for a time as though the banking business in Bible Grove was at an end. The cause of the most recent trouble was the "run" made on the bank by its depositors a few days ago which almost exhausted the bank's resources and caused it to close its doors and quit business for the time. Public meetings have beenheld du ing the past few days in Bible Grove at which explanations were made and assurances given the people that if they would stand back of the bank with their confidence and patronage the stockholders would guarantee its future safety. The people have responded favorably to these appeals and money has been secured by the stockholders to make up for all deficiencies. The bank is now declared to be safe and sound by the state banking expert who has been in Bible Grove the past few days helping get matters straightened out and confidence restored. There is no need for any future "runs" on the bank as the experiences of the past few weeks will have tendency to cause the exercise of a great amount of caution on the part of those connected with the bank-Clay County Republican. TEUTOPOLIS,