Farmers Bank - Chicago, IL

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: October 19, 1929
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 20df01ae

Response Measures

Accommodated withdrawals, Public signal of financial health

Other: Cash delivered by airplane (money bags) to reassure depositors and halt withdrawals.

Description

OCR is poor. Article (Beatrice Daily Sun, 1929-10-20) describes a threatened run on the Farmers' Bank in Chicago on Oct 19, 1929 that was halted when an airplane dropped money bags (relief cash). Other nearby banks had been closed, which triggered nervousness. The Farmers' Bank remained open.

Events (1)

1. October 19, 1929 Run

Cause: Local Banks
Cause Details: Panic/nervousness caused by closures of other nearby banks; customers lined up to withdraw funds.
Measures: Airplane dropped money bags (cash) to the bank to reassure depositors and supply liquidity, which dispersed the line and halted the run.
Newspaper Excerpt: Money Bags Out Of Sky Halted Run ... stave off bank run ... Relief was rushed by airplane the Farmers' bank Chicago ... three banks had been closed.
Source: newspapers

Newspaper Articles (1)

1. October 20, 1929 Beatrice Daily Sun Beatrice, NE

Article from Beatrice Daily Sun, October 20, 1929

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Article Text

Money Bags Out Of Sky Halted Run Bank III., Oct. 19 of the sky yesterday dropped money bags bring faith stricken town and stave off bank run which would almost certainly sulted empty vaults the bank which remained open. The drone of airplane the signal that the line 250 front of the National bank need have no fears of getting their money Almost like magic the line faded and another the money they earlier had withRelief was rushed by airplane the Farmers' bank Chicago federal officials soon learned that Taylorother three banks had been closed.