Bank of Commerce - Chicago, IL

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: June 26, 1932
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 5f8203d6

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

OCR-corrupted article. Story (dated 1932-06-26) describes Melvin Traylor addressing depositors and calming a crowd so withdrawals abated; bank reopened/was to open Monday. No clear suspension or receivership mentioned. Runs appear driven by recent closings of other banks and general contagion rather than a discrete hoax.

Events (1)

1. June 26, 1932 Run

Cause: Local Banks
Cause Details: Depositor nervousness attributed to recent closings of other banks and contagion from those failures
Measures: President Melvin Traylor addressed depositors publicly, pleaded for faith, promised the bank would open Monday and offered to pay depositors as needed to restore confidence.
Newspaper Excerpt: Traylor Addresses Depositors; Balks Run on Two Banks ... Traylor told will be willing ... the thinned after had spoken and an bank attaches had been restored The Loop bank close was the Bank of Commerce
Source: newspapers

Newspaper Articles (1)

1. June 26, 1932 The Plain Dealer Cleveland, OH

Article from The Plain Dealer, June 26, 1932

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Article Text

Traylor Addresses Depositors; Balks Run on Two Banks CHICAGO June Melvin Traylor, considered by many presidential itemmed an on his First First Union Trust Sav ngs and pleading for faith. who is president of both the three largest the for demonstration against the had been laid and the had taken steps to put more liquid than Both crowded large number of intended withdraw ing fear ered by recent closings Four ings today one brought to the here this bank will during the usual and will open on Monday morning Traylor told will be willing and off any depositor who to alleged plot. Traysaid This promoted by those are not your friends friends Fortunately are the best posiin our history Please tell your neighbors will open Mon day morning and every morning at The thinned after had spoken and an bank attaches had been restored The Loop bank close was the Bank of Commerce with had absorbed the Bank of last September assets are understood deposits