4235. Calumet National Bank (Chicago, IL)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
3102
Charter Number
3102
Start Date
November 12, 1900
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
4fc28c1b

Response Measures

Accommodated withdrawals

Description

Multiple contemporaneous reports describe a three-hour run (Nov 12, 1900) caused by false rumors about the cashier's illness/absconding; bank paid depositors and was described as solvent. No suspension, closure, or receivership reported.

Events (1)

1. November 12, 1900 Run
Cause
Rumor Or Misinformation
Cause Details
Cashier D. S. McGrath was absent due to illness; false rumors circulated that he had absconded or committed suicide, prompting depositors to withdraw funds.
Measures
Bank paid out funds to depositors during the run (nearly $30,000 to $70,000 reported), meeting withdrawals; bank remained solvent.
Newspaper Excerpt
Three days' enforced absence from his post of duty on the part of D. S. McGrath, cashier of the Calumet National Bank ... started false rumors as to the institution's solvency, and culminated in a run on the bank. The run lasted three hours.
Source
newspapers

Newspaper Articles (10)

Article from The St. Louis Republic, November 13, 1900

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Article Text

RUN ON A CHICAGO BANK. Cashier's Enforced Absence Started Sensational Rumors. Chicago, Nov. 12-Three days' enforced absence from his post of duty on the part of D. S. McGrath, cashier of the Calumet National Bank, at South Chicago, started false rumors as to the Institution's solveney and culminated in a run on the bank today. The run lasted three hours. It began at 9a. m., but before noon nearly every one of the 500 or 600 anxious depositors who had formed in line in front of the bank had been paid. At the close of the day's business Cashier McGrath said nearly $70.000 had been paid out, most of It going to holders of demand certificates. McGrath was compelled to remain at his home because of Illness, and the report became current that he had absconded and then that he had committed suicide. He first became informed of the rumors by the arrival of a Deputy Coroner, who came to hold an inquest upon him. The bank is solvent.


Article from The Times, November 13, 1900

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Article Text

RUN ON THE BANK. Absence of Cashier Caused Much Uneasiness. (By Associated Press.) CHICAGO, November 12.-Three days enforced absence from his post of duty on account of illness on the part of D. S. McGrath, cashier of the Calumet National Bank, of South Chicago, started false rumors as to the institution's solvency, and eulminated to-day in a run on the bank. The run lasted three hours. At the close of the day's business Cashite McGath said nearly $30,000 had been paid out, most of it going to holders of demand certificates. The bank is entirely solvent.


Article from Evening Times-Republican, November 13, 1900

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Article Text

Causes Big Run on the Bank. Chicago, Nov. 13.-Three days of enforced absence from his post of duty on the-part of-D.. S. McGrath, cashier of the Calumet National Bank of South Chicago started false rumors as to the institution's solvency, and culminated yesterday in a run on the bank. The run began at 9 a. m., and by noon nearly every one of the 500 or 600 anxious depositors who formed in line in front of the bank had been paid. At the close of the day's business Cashier McGrath said nearly $30,000 had been paid out. McGrath was compelled to remain at home because of illness, and the report became current that he had absconded and then that he had committed suicide. He first became informed of the rumors by the arrival of the deputy coroner, who came to hold an inquest upon him.


Article from The Washington Weekly Post, November 13, 1900

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Article Text

FALSE STORIES CAUSE BANK RUN. Coroner Calls to Hold an Inquest on Sick Cashier, Reported as a Suicide. Chicago, Nov. 12.-Three days' enforced absence from his post on the part of D. S. McGrath, cashier of the Calumet National Bank at South Chicago, started false rumors as to the institution's solvency and culminated to-day in a run on the bank. The run lasted three hours. It began at 9 a. m., but by noon nearly every one of the 500 or 600 anxious depositors who had formed in line in front of the bank had been paid. At the close of the day's business Cashier McGrath said nearly $30,000 had been paid out, most of it going to holders of demand certificates. Mr. McGrath was compelled to remain at his home because of illness, and the report became current that he had absconded, and then that he had committed suicide. He first became informed of the rumors by the arrival of a deputy coroner, who came to hold an inquest upon him. The bank is entirely solvent.


Article from The Savannah Morning News, November 13, 1900

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Article Text

STARTED A RUN ON A BANK. False Report Got Out About a Cashier in Chicago. Chicago, Nov. 12.-Three days' enforced absence from his post of duty on the part of D. S. McGrath, cashier of the Calumet National Bank at South Chicago, started false rumors as to the Institution's solvency and culminated to-day in . a run on the bank. The run lasted three hours. At the close of the day's business Cashier McGrath said nearly $30,000 had been paid out, most of it going to holders of demand certificates. Mr. McGrath was compelled to remain at his home because of Illness and the report became current that he had abseconded and that he had committed sulcide. He first became informed of the rumors by the arrival of a deputy coroner who came to hold an inquest upon him. The bank is entirely solvent.


Article from The Indianapolis Journal, November 13, 1900

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Article Text

EFFECT OF A FALSE RUMOR. Run on a Bank Whose Cashier Was Detained at Home by Illness. CHICAGO, Nov. 12.-Three days' enforced absence from his post of duty on the part of D. S. McGrath, cashier of the Calumet National Bank, at South Chicago, started false rumors as to the institution's solvency and culminated to-day in a run on the bank. The run lasted three hours. It began at 9 a. m., but by noon nearly every one of the 500 or 600 anxious depositors, who had formed in line in front of the bank had been paid. At the close of the day's business Cashier McGrath said nearly $30,000 had been paid out, most of it going to holders of demand certificates. Mr. McGrath was compelled to remain at his home because of illness and the report became current that he had absconded and then that he had committed suicide. He became informed of the rumors by the arrival. of a deputy coroner, who came to hold an inquest over him. The bank is entirely solvent.


Article from The Denison Review, November 13, 1900

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Article Text

RUN ON A CHICAGO BANK* Cashier's Enforced Absence Starts False Rumors as to Calumet's Solvency. Chicago, Nov. 13.-Three days' enforced absence from his post of duty on the part of D. S. McGrath, cashier of the Calumet National bank at South Chicago, started false rumors as to the institution's solvency and culminated in a run on the bank yesterday. The run lasted three hours. It began at 9 H. m., but by noon nearly every one of the 500 or 600 anxious depositors who had formed in line in front of the bank had been paid. At the close of the day's business Cashier McGrath said nearly $30,000 had been paid out. Mr. McGrath was compelled to remain at his home because of illness and the report became current that he had absconded and then that he had committed suicide. He first became informed of the rumors by the arrival of a deputy coroner, who came to hold an inquest upon him. The bank is entirely solvent.


Article from Rock Island Argus, November 14, 1900

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Article Text

THREE HOURS' RUN ON A BANK. Cashier Was III and a False Report Became Current. Chicago, Nov. 14.-Three days' enforced absence from his post of duty on the part of D. S. McGrath, cashier of the Calumet National bank, at South Chicago, started false rumors as to the institution's solvency, and eulminated yesterday in a run on the bank. The run lasted three hours. It began at 9 a. m., but by noon nearly every one of the 500 or 600 anxious depositors who had formed in line in front of the bank had been paid. At the close of the day's business Cashier McGrath said nearly $30,000 had been paid out, most of it going to holders of demand certificates. McGrath was compelled to remain at his home because of illness, and the report became current that he had absconded and then that he had committed suicide.


Article from Connecticut Western News, November 15, 1900

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Article Text

Cashier's Illness Causes a Run. Absence from his post of duty on the part of D. S. McGrath, cashier of the Calumet National bank at South Chicago, started false rumors as to the institution's solvency and culminated in a run on the bank. The run lasted three hours. It began at 9 a. m., but by noon nearly every one of the 500 or 600 anxious depositors who had formed in line in front of the bank had been paid. At the close of the day's business Cashier McGrath said nearly $30,000 had been paid out, most of it going to holders of demand certificates. Mr. McGrath was compelled to remain at his home because of illness, and the report became current that he had absconded and then that he had committed suicide. He first became informed of the rumors by the arrival of a deputy coroner, who came to hold an inquest upon him. The bank is solvent.


Article from Abilene Weekly Reflector, November 15, 1900

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Article Text

A Run on a Chicago Bank. Chicago, Nov. 13.-Three days' enforced absence from his post of duty on the part of D. S. McGrath, cashier of the Calumet national bank at South Chicago, started false rumors as to the institution's solvency, and culminated in a run on the bank yesterday. The run lasted three hours. At the close of the day's business Cashier McGrath said nearly $30,000 had been paid out, most of it going to holders of demand certificates. Mr. McGrath was compelled to remain at his home because of illness and the report became current that he had absconded and then that he had committed suicide. He first became informed of the rumors by the arrival of a deputy coroner who came to hold an inquest upon him. The bank is entirely solvent.