4312. Citizens Trust & Savings Bank (Chicago, IL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
August 5, 1930
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
0c0a35f9

Response Measures

Full suspension

Description

Multiple contemporaneous articles (Aug 5–6, 1930) report a run that withdrew about $500,000 and that the bank was closed by the state auditor. The closure is reported as an action by the state auditor (government action) following the run; no reopening is mentioned.

Events (2)

1. August 5, 1930 Run
Cause
Local Banks
Cause Details
Heavy withdrawals (~$500,000) following runs/closures of other South Side banks (Binga State and Roosevelt State) prompted depositor flight.
Newspaper Excerpt
the Citizens Trust and Savings bank was closed by the state auditor today following run on the bank during which $500,000 in deposits were withdrawn.
Source
newspapers
2. August 5, 1930 Suspension
Cause
Government Action
Cause Details
Closed by the state auditor (official suspension/closure) after the run withdrew deposits.
Newspaper Excerpt
Citizens Trust and Savings bank was closed by the state auditor today following run on the bank ...
Source
newspapers

Newspaper Articles (18)

Article from The Vicksburg Post, August 5, 1930

Click image to open full size in new tab

Article Text

THIRD NEGRO BANK IN CHICAGO CLOSES CHICAGO Aug third bank patronized owned by groes closed today. Citizens Trust and Savings Bank ordered shut the state auditor following during which $500.withdrawn. first negro bank to close The the Bigna State. deposits than had more frozen real estate asse's. The second was the Roosevelt State deposits more than due run negro depositors. The Citizens' Bank was capitalized and had deposits about $1,000,000.


Article from St. Cloud Times, August 5, 1930

Click image to open full size in new tab

Article Text

FLASHES St. Louis, Mo., Aug. 5. Date Jackson and Forest O'Brine to. day had less than 200 hours to go to better the world's record for refuel. Ing endurance flying set last month at Chicago by the Hunter brothers with sustained flight of approximately 554 hours. Chicago, Aug. 5. cit. izens Trust and Savings bank was closed by the state auditor today following run on the bank during which $500,000 in deposits withdrawn. This bank the third south. side bank closed during the last week. Washington, Aug. 5 General Douglas MacArthur today was appointed chief of staff of the army by President Hoover succeeding General Charle P. Summerall. Ancona, Italy, Aug. 5. (AP)Light earthquake shocks lasting ten seconds were felt this evening at Macerata, Astoli, Fabriano, Fermo. and Porto San Giorgio. There was no damage and nobody was injured. Patterson. N. J., Aug. 5. (AP)Six men were dead today from drinking poison alcohol at hobo camp outside the city Saturday night. Three of the men were found dead, the others died in hospitals.


Article from Des Moines Tribune, August 5, 1930

Click image to open full size in new tab

Article Text

BANK IS CLOSED. CHICAGO The Citizens Trust and Savings bank was closed by the state auditor Tuesday following run on the bank during which $500.000 in deposits were withdrawn. This bank is the third south side bank closed during the last week.


Article from Globe-Gazette, August 5, 1930

Click image to open full size in new tab

Article Text

Chicago Bank Closes Following Heavy Run by Negro Depositors CHICAGO, Aug. 5. (/P)-The Citizens Trust and Savings bank was closed by the state auditor today following a run on the bank during which $500,000 in deposits were by his wife and several children. withdrawn. This bank is the third south side bank closed during the last week. The Citizen's bank is located at Fifty-fifth and South State at the edge of the Negro district. The first bank to close was the Binga State, with deposits of more than $1,200,000 among the Negroes. The second was the Roosevelt State, which also had dosposits of more than $1,000,000, much of It Negro savings. The Roosevelt State was closed due to a cash shortage caused by heavy withdrawals after the Binga bank Phone 217 was closed. The Citizen's bank was capitalized at $200,000 and had deposits of about $1,000,000.


Article from The Capital Times, August 5, 1930

Click image to open full size in new tab

Article Text

Chicago Bank Closed After $500,000 Run CHICAGO-(P)-The Citizens Trust and Savings bank was closed by the state auditor today following run on the bank during which $300.000 in deposits were withdrawn. This bank is the third South side bank closed during the last week.


Article from Beatrice Daily Sun, August 5, 1930

Click image to open full size in new tab

Article Text

Third Bank In Chicago Closes Doors During Week CHICAGO, Aug. 5. (A)-The Citizens Trust & Savings bank was, closed by the state auditor today following run on the bank during which $500,000 in deposits were withdrawn. This bank is the third south side bank the last week. STATES' RIGHTS DULUTH, Aug. state should be the main unit around which the law enforcement machinery should be constructed, for function alone in successfully combatting the criminal, Donald S. Leonard, Detroit, of the Michigan state police, told delegates here today at the annual convention of the international association of chiefs of police. NEW YORK STOCK CLOSE Smelt and Refining Sugar Am. Tel and Anaconda Copper Atchison and Baltimore and Ohio Beatrice Mil. and Pac. pfd Solvent Corn Products Fox General Electric Foods General Motors Harvester Motor Paramount Publix Penny Phillips Radio Am. Safeway Stores Sinclair Oil Skelly Standard Standard Oil Studebaker Texas Corp Union Pacific Rubber Steel Woolworth Cities common Ford Mot. Standard Oil Indiana Omaha Market Close Dempster Mfg


Article from The Rock Island Argus, August 5, 1930

Click image to open full size in new tab

Article Text

Third South Side Bank Is Closed At Chicago Chicago, Aug. the Assoclated Press Citizens' Trust and Savings bank closed by the state auditor today following run on the bank during which in deposits were This bank the third south side bank closed during the last Silver. New the silver,


Article from The Capital Times, August 5, 1930

Click image to open full size in new tab

Article Text

Chicago Bank Closed After $500,000 Run Citizens Trust and Savings bank was closed by the state auditor today following run on the bank during which $500.000 in deposits were withdrawn This bank is the third South side bank closed during Lt. Gov. Huber Files Nomination Papers Henry Huber filed nomina tion papers for re-election with the secretary of state today


Article from The Muscatine Journal, August 5, 1930

Click image to open full size in new tab

Article Text

Chicago Bank Is Forced to Close; Third in Week Chicago. Aug. The Citizens Trust and Savings bank was closed by the state auditor today following on the bank during which $500,000 deposits were withdrawn. This bank the third south side bank closed during the last week. The Citizen's bank is located at Fifty-fifth and South State, at the the negro district. The first bank to close was the Binga State, with deposits more than among the negroes. The second was the Roosevelt State, which also had deposits of more than $1,000,000. much of negro savings. The Roosevelt State was closed due cash shortage caused by heavy after the Binga bank closed. The Citizen's bank was capitalized at and had deposits of about $1,000,000.


Article from North Platte Daily Telegraph, August 5, 1930

Click image to open full size in new tab

Article Text

RUN ON CHICAGO BANK ENDS AS BANK CLOSES Chicago, Aug. 5, Citizens Trust and Savings bank was closed by the state auditor today following run on the bank during which $500,000 in deposits were withdrawn. This bank is the third south side bank closed during the last week.


Article from The Minneapolis Journal, August 5, 1930

Click image to open full size in new tab

Article Text

HOW TRAPPED CREW WOULD ESCAPE FROM NEW SUBMARINE COMBATTING the great menace of submarine warfare, Uncle Sam shows how member of the crew of his new submarine, V-5, might escape in an emergency through one of the safety hatches on the aft deck There are three escape hatches through each of which several men might escape at one time, the locks then being pumped out in preparation for further escapes. There are artificial extra "lungs" for each of the 11 officers and 80 enlisted men. One of the "lungs," designed to prevent suffocation, is being worn by the member of the crew, Rosenkotter, who is shown "escaping. The 371foot submarine was given its preliminary test off Provincetown, Mass. It is said to be the safest craft afloat and represents the last word in submarine construction. Nevada Governor Tells of Attack Las Vegas, Nevada, Aug. 5.-(P) Governor Fred Balzar reported to police Gordon C. Smith had aimed pistol at him in the course of a heated discussion, the chief executive disarming him before he could shoot. The governor's account of the incident was verified by James Cashman, county commissioner, who was at the Smith home. The governor had come here from Chrson City to discuss with Smith letters of criticism he had received from the Las Vegas board of trade. The governor and Cashman said Smith called the chief executive liar. Balzar, for years sheriff of Mineral county, seized him by the Smith then drev. pistol, the governor and Cashman said, whereupon the chief executive disarmed New Dry Chief Asks For Public Sympathy Washington, Aug. Obtaining the sympathy and help of the American public are two objectives of Prohibition Director Woodcock in his task of enforcing prohibition with reorganized forces under the justice department "After all, who can object to a fair, honest, earnest and lawful enforcement of law of the land?' he asked radio audience. "To the great mass of American men and women say give us your sympathy and help. The world's stock of cut diamonds is estimated at 85,000,000 carats. THIRD CHICAGO BANK CLOSES Chicago, Aug. The Citizens Trust and Savings Bank was closed by the state auditor today following run on the bank in which $500,000 in deposits were withdrrawn. It is the third South Side bank closed in the last week. Divers take more time in ascending than in descending to prevent injuries from changing pressure.


Article from The Taylorville Daily Breeze Courier, August 5, 1930

Click image to open full size in new tab

Article Text

CHICAGO BANK CLOSED TODAY Chicago, Aug. 5. Citizens Trust & Savings bank was closed by the state auditor today during a run on the bank, during which $500,000 in deposits were withdrawn. This bank is the third south side bank closed during the last week. The Citizens bank is located at the edge of the negro district. The first bank to close was the Binga State, with deposits of more than $1,200,000 among the negroes. The second was the Roosevelt State, which also had deposits of more than $1,000,000, much of it negro savings. The Roosevelt State was closed. due to a cash shortage caused by withdrawals after the Binga bank was closed. The Citizens bank was capitalized at $200,000 and had deposits of about $1,000,050. Mr. and Mrs. Percy Griffiths and family. Miss Clara Rushford and William Roeder motored to Hillsboro Sunday, where they attended the annual reunion of the Rushford family held at Lake Hillsboro, August Clean Up" two groups of the better dresses, choice of the house $5.00 and $9.95. fp THE FAYE SHOP.


Article from Grand Forks Herald, August 6, 1930

Click image to open full size in new tab

Article Text

Run Forces Closing of Another Chicago Bank Chicago, Aug. Citizens Trust and Savings Bank was closed by the state today following run on the bank during which $500,000 in deposits were withdrawn. This bank is the third south side bank closed during the week Compression of natural gass to liquid is rapidly growing industry, says the bureau of mines De. signed for not on mains, the industry expanded 120 per cent


Article from Lincoln Journal Star, August 6, 1930

Click image to open full size in new tab

Article Text

CHICAGO BANK CLOSED. CHICAGO. Citizens' Trust and Savings bank was closed by the state auditor Tuesday following run on the bank, during which $500,000 in deposits were withdrawn. This bank is the third south side bank closed durink the last week


Article from The Grand Island Independent, August 6, 1930

Click image to open full size in new tab

Article Text

CITIZENS TRUST BANK CLOSES GIBSON Chicago, Aug. 6. (AP)-The Citizens Trust and Savings bank was closed by the state auditor today following run on the bank during which $500,000 in deposits were withdrawn. This bank is the third south side bank closed during the last week. Try Jessen's Root Beer. tf Order your brick ice cream, any kind, at the Grand Island Candy Kitchen for quick service. Phone 281.


Article from Omaha World-Herald, August 6, 1930

Click image to open full size in new tab

Article Text

Chicago Bank Closed After a $500,000 Run Chicago, III., Aug. (P). The Citizens' Trust and Savings bank was closed by the state auditor to day following a run on the bank in which 500 thousand dollars in de posits were withdrawn. This bank is the third South Side bank closed during the last week.


Article from Omaha World-Herald, August 6, 1930

Click image to open full size in new tab

Article Text

Chicago Bank Closed After a $500,000 Run Citizens' Trust and Savings bank was closed by the state auditor today following a run on the bank in which 500 thousand dollars in deposits were withdrawn This bank is the third South Side bank closed during the last week.


Article from Two Rivers Reporter, August 7, 1930

Click image to open full size in new tab

Article Text

BANK CLOSES AFTER "RUN" CHICAGO (AP)-The Citizens Trust and Savings bank was closed by the state auditor Tuesday following a run on the bank during which $500,000 in deposits were withdrawn. This bank is the third south side bank closed during the last week.