Article Text
RUN ON THE BANK KEPT UP ALL DAY Chicago, Aug. 6.-The run on the Drovers National Bank continued today until this afternoon when it dwindled out. All depositors, who asked for their money, got it.
4377. Drovers National Bank (Chicago, IL)
Bank Information
- Episode Type
- Run Only
- Bank Type
- national
- Bank ID
- 6535
- Charter Number
- 6535
- Start Date
- August 5, 1904
- Location
- Chicago, Illinois (41.850, -87.650)
Metadata
- Model
- gpt-5-mini
- Short Digest
380eb891
Response Measures
Accommodated withdrawals
Description
A heavy run began Aug 5, 1904 tied to rumors during the packing house strike; the run continued into Aug 6 but dwindled out and depositors who asked received their money. No suspension or closure reported.
Events (3)
1.
December 15, 1902
Chartered
- Source
- historical_nic
2.
August 5, 1904
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Rumors spread during the packing house strike that the bank had lent all its money to the packers, prompting depositors to withdraw funds.
- Measures
- Bank paid depositors on demand; president stated depositors who asked would get their money and the bank was prepared for any emergency.
- Newspaper Excerpt
- CHICAGO August 5-A heavy run began today on the Drovers' National bank, located at the main entrance of the stock yards. ... the run is probably due to the fact that the strikers started a rumor that the bank had lent all its money to the packers.
- Source
- newspapers
3.
August 6, 1904
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Continuation of the Aug 5 run driven by the same strike-related rumors; by Aug 6 the run dwindled and depositors received funds.
- Measures
- Paid out depositors' demands; maintained liquidity to meet withdrawals.
- Newspaper Excerpt
- RUN ON THE BANK KEPT UP ALL DAY Chicago, Aug. 6.-The run on the Drovers National Bank continued today until this afternoon when it dwindled out. All depositors, who asked for their money, got it.
- Source
- newspapers
Newspaper Articles (2)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
strike on this division practically broken today. All the men, he says, returned to work, excepting at Lewis, Ladue and Harwood Chief Dispatcher Fowler says trains are running on time. PARSONS, Kan. August 4.-The Katy passenger trains are almost on time today. Several freights ran. Six non-union operators arrived. The following message has been received from President Perham of the Order of Railway Telegraphers: "Reports from every district indicate that the situation is very satis. factory. The company is in desperate straits, and the officials are circulating false reports regarding strikers returning to work. Only three deserknown of so reabout men ports tions are sending far. out Their are absurdly untrue. They can't get the men." Aug. 5.-Homer Call. inof ternational CHICAGO secretary the Butchers' in said today that he had men with union, conference representatives of and the United States Bureau of Labor, was he hinted federal would interference not into a probability. He go however, details. Donnelly returned He after a tour of the strike centers. said that everywhere he found strikers confident of success. The great demonstration by strikers occurs at Oswald's Grove tomorrow. Celestera Chera, an employe at Armour's was seriously injured by three men today while going to work. ST. JOSEPH. Aug. 4.-Packers re400 union men returned to ported Commission work this morning men consider the strike broken through. are estimated to be be run75 per cent of ing Packers about their capacity on cattle and sheep and 50 per cent on hogs. CHICAGO August 5-A heavy run began today on the Drovers' National bank, located at the main entrance of the stock yards. The trouble was caused by the general excitement of the packing house strike. The institution is believed to be perfectly solvent. The latest condition of the bank gave its resources and liabilities each at about six millions. President TIIden speaking of the run, at noon said: "Just as soon as the depositors come they will get their money. The demand is utterly senseless, but we are prepared for any emergency." A crowd is flocking about the doors, and the run is probably due to the fact that the strikers started a rumor that the bank had lent all its money to the packers. Several strikers had funds those in the bank, but a majority of who thronged about the place demandtheir money are small tradesmen vidoing ing business in the stock yards cinity. As the news of the run spread through the city, some depositors houses representing substantial business but went to the bank and got in line. and soon got over their scare dropped many out. saying the whole thing was the result of a fright. PARSONS, Kans., August 5.-In of the claim of the Katy officials spite the strike of the telegraph operathat is broken. the strikers declare headtors the company has made no the that Replying to an inquiry from grand way. lodge, R. L. Glover, deputy local president at Dennison, Texas, wired: They strike breakers on No. 5. in "No get nineteen strike breakers desercan't Texas in nineteen years. No tions south of Dennison." NEVADA, Mo., August -The today. Kastrike situation is unchanged night. ty freight moved during the some No settlement of the strike In is exmanner A within forty-eight hours pected here. SEDALIA. Mo. August 5.-There on is evidence of the operators' strike on the no Katy today. All trains are time. CHICAGO August 5.-Local bankers a that the strike is having market. complain effect on the money by serious of dollars formerly used in ChiMillions packers are now piling companies up the banks. The packing their cago paid off ten millions of strike. have since the beginning of the borloans Normally they are very heavy