4281. Chicago Bank (Chicago, IL)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
November 5, 1932
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
149b158b

Response Measures

Borrowed from banks or large institutions

Other: Article 1 contains a garbled reference to a 'receiver' for a Chicago bank but text is OCR-corrupted and unclear; Article 2 clearly states a loan to 'Chicago Bank' averted a panic.

Description

Newspaper headline (Orlando Evening Star, 1932-11-05) states Loan to Chicago Bank Averted Panic, indicating depositor panic / run threat that was stopped by an emergency loan (from Dawes). No article text indicates the bank suspended or was closed; therefore classified as run_only. Details about the exact trigger of the panic are not provided in the excerpts.

Events (1)

1. November 5, 1932 Run
Cause Details
Depositor panic/withdrawal threat that was averted by an emergency loan (referred to as the Dawes deal); articles do not specify specific rumors or bank-specific insolvency.
Measures
Received an emergency loan (referred to as the Dawes deal) to avert the panic.
Newspaper Excerpt
Loan to Chicago Bank Averted Panic
Source
newspapers

Newspaper Articles (2)

Article from The Minneapolis Journal, November 2, 1932

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Article Text

Today's New York Stock Market Quotations All Transactions Up to Press Time Compiled from The Journal's Own Stock Tickers Table Closed at 12:15 m. Minneapolis Time 1:15 m. New York Time p. Sales Year Ago 2 Years Ago **And Extra. § Stock. Ex-div. Sales Monday # Last div. declared, period not stated. Sales Tuesday Holiday Holiday Add 6% in stock. X Payable in script. XXX Not Shares 384,760 Shares quoted today; previous quotations. 528,635 given for today cannot be complete on account of the time element, but indicate activity in the stocks. Prev. High Low Last High Low Last High Prev. High Low Last High High Low Last High Mot Timkin Trans A 90 6.00 E&P Great Tri Cont Corp. *** Adams Express West Truax Address Int Crp W Grigaby Grunow Twin City Wabash pfd *** Affiliated Wabash pfd Reduction Stores Warner Hahn Union Carbide Albany Ward Baking Hayes Union Union Wesson *** Hollander Union Pae Chemical 43 4.00 Wesson On Homestake United 23% West Maryland. United West Pacific *** Amerada Houston Oil Un Cigar Note West Pacific Bank Houston United Corp 22 7.00 Penn 7% Hudson Mot Co. United pfd Western Union United Dye 15% 35 American Can United Fruit Illinois Central Westvaco Chlor United Indian Refining. Rand Willys 231/4 Wilson pfd Ins Delaw Home Prod Leather Intercont Rub 45% 2.40 Woolworth Internation 2.00 Irn Worth Pump France Realty Wrigley, Rubber Machine Met Rub pfd Carriers Ltd Yellow Truck 3% Harvest Tobacco 4% Zonite Prods 6% Inter Nickel Universal today: previous Paper stated. Utilities zAnd stock. xPayable period scrip pfd Silver Stores Dept Around Wall Street Tobacco Tobacco ofd Water Johns New York, before nine months United States Pipe and ended Foundry street's figures on insol September 30, $144,670 vs. Woolen expected K dropped sharply last week come before depletion and federal stock will lbe continued on some Anchor Cap new totaling 462 compared with 521 in taxes was $96,045 1.20 dividend basis, despite current the preceding week This decline, British American Oil Company losses. Armour Kennecott when seasonal Common Reliance Manufacturing Company Armour 1.00 Kresge rise cent usual, month sended September 30, 73 (Illinois)- October dollar sales of Arnold Kreuger Toll the agency's dex the company exceeded those of year Kroger Continental Oil Company (Del.) ago; plants are said to be runAsso Apparel average 136.3 per cent the Net income, nine ning at capacity Atchison Co week before 4.00 Lambert September 30, $101,949 vs. deficit Lehigh Valley Chicago, Rock Island & Pacific American Light & Traction ComAll Coast Fink Railroad freight carloadings last pany- share earnings, Cuba Railroad- Passed quarterly totaled 22,208 compared with months ended September 30, dividend on preferred stock, last 23,979 in the preceding week, which payment on was $1.50 Aucrease of They totaled Indian Motorcycle Company gust R Inc 26,876 like 1931 cars the week. Deficit, ended Detroit & Mackinae RailwayLorillard exports of rubber from ended Septem- ber 30, $94,029 VS. deficit $73,188. Ludium su Balt Ohio Malaya totaled 30, VS. net income of Air Reduction Company October Obio M tons, the Rubber Exchange per cent above 6.50 pfd Trucks 201/4 of New York St. Louis & San Francisco Rail- September and 10 per cent ahead of Co with 41,973 tons exported Beat Manhat Elv Mg. in September 45,911 in October Marine ceiver for by Federal Amerada in7.00 1931 For the ten months ended Beech Nut Pack Marshall Court, St. Louis: consent- come, nine months ended Septem3.00 shipments Stores ber 30, $957,972 deficit $968,060. Bendix receivership for purpose 398,061 against Best McCall Corp Baldwin Locomotive Worksaiding in out readjustment 433 in the corresponding period 28 Deficit, 12 months ended September last plan which has been declared opyear Beth pfd McKes $4,311,924 erative. The Railroad Credit Corporation International Railways of Central St. Louis Car on November either actually Booth revenues, quarterly dividend preferred made or authorized loans to Borden pf months ended September 30, off interest stock On August company paid Miami Copper roads their fixed Corp per cent, gross income off 12.4 per share obligations totaling Cont Seaboard Air Line Railway ReBrook Man cording to the report Pere Marquette Railway Seeks of the filed today with ceivers ask for authority borrow Mo Tex. the interstate commis- to from $3,000,000 from the R. to pay R. Funds are to be used to Burroughs interest. Term deb. Missouri Pacific. discharge claims inThe canned foods market is dull Reading Plans have Copper Pacific curred within six months before rebut holding well Some for south Butte Monsanto ceivership. are especially lines of company with those 24% Company Montgom Western income good notably Maryland of Railroad; Atlantic Munsingwear nine months ended September 30, new spinach Pumpkin and squash City union terminal and eliminaMurray.Corp are in good seasonal $309,580. tion of grade cost N Dow Drug Company (Ohio)-A Canadian price firmness in dried $5,000,000. Thresh National has for fruits has in the past United Cigar Stores Company of Case Nat in particularly Dow Drug Delaware, America authorizes Celotex Dairy by Court at Thompson raisins, Oregon prunes cellation of 26 additional leases held Celotex Distillers Pittsburgh stated action and dried peaches and apples Celotex Distillers was taken because its failure to Leading blanket Vulcan Detinning Company Central obtain an adequate reduction are said various Common shares earnings, nine Corp pfd looking to more econom- months ended September 30, 22 Ohio National Tea ical selling methods and there Peoples Drug Stores September cents vs. Nevada Copper talk in the trade of community sales off 11.3 per cent; nine months Warner Brothers ProNewport 2nd of interests to effect selling and off 6.9 cent. poses to change stock from West distributing economies Allegheny Steel Company-De York no par to $5 par. producers have opened ficit, SeptemHarlem. Associated and Electric Comtheir books for 1933 business and ber 0826,066 vs. net income, Invest Passed dividend orders this month will be $246,748 Pneu on $4 preference stock, last payfor January delivery only, accord- Iron Company pfd. ment which share ing to many producers has re-employed at six CRI&P bearing scrip which ma Steel buying has slipped slightly Chryster Motors mines closed since June 1; to work tures May 1937 according to the American Metal two days week. Memphis Natural Gas CompanyNoranda Market' attribute the Truscon Steel Net income before and Norfolk decrease wholly to the election innine months ended September 30, depletion, months ended Seppfd. fluence According this theory, $593,624 tember $657,377 vs. $896,860. $10% North American says the review should be an Crd American in buying irrespective Trust Northern Pacific of the outcome of the presidential Bankruptcy Quiz Steel Industry Copt election Comm Wool dealers report a slower de- Of Insull Firm Denied Increases Activity Comm mand for all types of Oliver Equip 6.00 ofd wool but inElevator Chicago Nov. Federal Washington, Congress clined to the lull because Steel Judge Walter Lindley today commerce department reports that their recent to fused bankruptcy Consolidat quests for spot shipments of piece with steel operations reaching 20 2.00 by the petiConsol goods from oldtime customers. per cent of capacity in the third tioner the assets of the Consol Standard Statistics Company says week of October, gain of approx2.00 Middle Company unfavorable dividend changes imately 40 per cent over the August Consol 3.00 Pacific Judge repeated October, 88, were the rate, the persistent downward trend Cont pfd Packard Motors. statements held hopes the smallest for any since Au- the industry has been reversed Continental Can Para Publix $2,000,000,000 Insull Utility Holding gust, 1930, when the total was 81. The increased volume of busi1.20 Ins Utah Company could be reorganized and Thirty the Motors managed under equity receivership 1.00 Penick and 54 last month. Sep- acter of the which have Continental to the benefit of creditors and the tember saw 139 casualties come primarily from small and corporation. Prod Penn Railroad Tron Age reports mixed devel- moderate consumers, were Attorney William W. Wilson, in 1.80 Penney opments steel prices Heavy viewed by the trade healthy bases behalf said he did Crown Co. Petroleum Corp. melting scrap has declined at Pittsfor the general improvement, th not ask an adjudication in bank Cuba Company Phelps Corp. burgh higher Cleveland department said. time. Cudahy Pack 3.00 pfd However, composite An advance in production of iron Co Phillips Jones "However, he said, "the bank Curtis pfd dropped to $7.50 ton, the lowest and steel in September was noted at Curt Wrt Phillips Pet rupt's attorneys have been negliTin plates are down dpeartment the first Pierce gent or dilatory in the case and $2 ton, the cut which had occurred in that month Petrim want to press the matter now for D in rail since 1928. Steel output increased 1.20 Pillsbury Flour. the purpose of discovery of asDavidson Chem. stock is also down $2 ton to 2.55 points per capacity, Va *** cents pound while sold-rolled while five additional blast furnaces Pittston Counsel for other creditors and Rey Proe Gamble strip steel has strengthened, being aided in stepping up daily average Diamond Match. committees Gam quoted at cents a pound, Pitts- pig iron 16 per cent Dome Mines opposed the motion for bankruptcy 3.20 Public Ser burgh or The unfinish- above the previous month. The adDouglas examina and that "the Pullman Car ed steel index which does justed employment index reversed 23 progress of the equity has asPure new items, un- the downward movement which has Dunhill Corp tonishing and most gratifying. 1.00 Purity Bakery characterized that figure since the changed at 1.948 pound, and Dupont de R pig iron $13.59 gross ton. first of the year. Dupont Deb Corp Freight loadings of the Chicago White Rock Firm Radio pfd and North Western in OcE New Receiver for tober totaled 105,758 the largEastman Nets $1.96 a Share Motors est since October, 1931 They Republic Farm Bank Denied pared with in September and Elee Pow New York, Nov. 127,817 2.00 Storage 1.00 Reynolds Metals Rock Mineral Springs Company for Elec Standard Company of New Reynolds nine months ended September 30 Judge James H. has Eng Jersey announces since inauguraRichfield on denied of bondholder net profit equal tion of its employees ownerRossia new. after dividend to appoint for the Chiship plan 12 years ago 35,949 workments $1.96 share on the com- Joint Stock Land Bank, ers Up to AugStores mon stock. 101/2 ust 16 last 13,664 in7.00 Safew This compared with $855,979 The farm loan board, supervisor cluding percentage share first nine nths joint land banks, recentof no longer with the comof 1931. For the September quarter John Gallagher presipany, has disposed of their holdings, 38 7.00 Fair pfd of the Chicago bank as reon that date of the em- company and net profit of $145/Associa per cent 636, to ceiver. The petition owned equal Fash ployees Schulte before Judge Wilkerson deshare with $239,512 or Seab termine jurisdiction SUMMARY TODAY'S cents share the June over reFirst Sears Roebuck ceivership Judge Wilkerson Fisk Rubber NEWS and or $1.07 share in the Sec the board and court had Foundation September quarter, 1931. Servel New York, prepared Fourth Nat power to appoint receivers for the Shattuck New Standard bank. Freeport Texas Shell Associated Fuller Co pfd Mack Truck Loses Chrysler Plymouth Skelly plant operating full time; 20,000 Sheff $961,000 in 9 Months Gabriel Snubbersxxx new Plmouths scheduled for curForeign Markets Invest month. General Motors Corporation- New York, Nov. Mack Asphalt Cal Fisher Body Company recalls about Trucks reports net loss of $961,776 Southern Foreign markets at a glance, Nov Baking 1,000 for the first against Cable Thompson Products, loss $258,765 for the same 1931 Cable Stan Brands a spectacular cit, nine ended September period. Third net loss Stand the and Cable pfd 30 $74,961 income amounted to $444,834 against Cigar the in General Wilcox in- of a year ago giltedged on the Gen Electric come after class dividends. Stand exchange due to profit Foods Sterling nine months ended September but good buying sustained values Sterling $18,668 $280,101. British Stocks Rise prices well over Monday's closing Stewart Warner. Arundel Corporation Common General Mills Gold mining shares and industrials Stone ended On Conversion Loan Mills moved higher while others were Studebaker September 30. $2.33 vs. General Motors. closing was irregular. Superior Steel National Corpora- London, Nov. rise of Gen Paris pfd. tion- Reported that 1½ to 2% points in British govern- in the United and States Europe Signal. Telautograph dends paid company first ment stocks occurred in the stock the Bourse on Gillette Texas Corp three quarters were covered by exchange early today on the The new four half rente was Glidden Sul. earnings in first eight months. nouncement new bank traded in Glidden White Rock Mineral Springs- conversion loan of £300,000,000 stocks gained slightly. The marGobel Adolph Co Third Nat Common (about The loan closed irregular. Dust Tidewater months ended September 30, $1.95 be at 9736 and will be used Berlin- slight Goodrich 5.00 Tidewater $3.07 to off war loans on the dull and pay Goodyear T&R Tim Co. Magma Copper and per cent treasury bonds. inactive with fractional declines.


Article from Orlando Evening Star, November 5, 1932

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Article Text

BARES DAWES DEAL Loan to Chicago Bank Averted Panic TRACK HELD BELOIT. negroes believed the police have been tampering with spikes on the ties supporting tracks along which Pres. Hoover's special train was to travel arrested near here (est) this railroad detecmorning tives. The men were ircked up at curve wear Waverly Beach dance pavilion between Beloit and Janesville, point where trains are forced slow down. They were carrying pinch bar type used in removing spikes. The men gave their names Hayes White and Henry Vance. Informed that an attempt would be made tamper with the rails, railway detectives lay last night and arrested the about they walked toward the curve. men were held in the Beloit police station for questioning by railway operatives. EN ROUTE TO Hoover carried his final drive for re-election back into Illinois, toward Wisconsin and Minnesota today after bidding for Missouri's support with the assertion that the democrats "campaign of including the issue On California the president headed today for Paul, where makes major campaign speech tonight address Madison, and rear platform appearances along From Paul, he will dash Palo order vote election day Stops route the coast include Nevada, probably for final appeal The will speak Salt City in the Mormon tabernacle. In Roosevelt State Invading Wisconsin today, the president enters state some the leading the wing, have declar for his opponent. Minnesota tonight he will find the democrats support from high figures the party The chief spoke Louis last night before crowd that jammed the 11,000 capacity strenuous day that started before breakfast and included formal address Springfield, Starting half hour of his crowded program the president unable finish within the time reserved the radio was cut off the air to allow Roosevelt to speak. Talks Prohibition Discussing prohibition for the first time since his speech of the president repeated that should be changed to eliminate and that states should be given control of the prob. lem protection from states and provision against return the saloon. His proposal, he said, the practical common ground adequate protection on which this question can reach solution. Speaking the democrats, know that their democratic strongholds south, no other, will accept the proposal for outright repeal of (Turn to Page