4716. Union National Bank (Chicago, IL)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
3278
Charter Number
3278
Start Date
August 25, 1932
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
fd2dfca4

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Article 3 (St. Albans Daily Messenger, 1932-08-25) contains a fictional/serialized story describing a panic and line of depositors at the Union National Bank in Chicago driven by spreading rumors that the bank was robbed or its president had embezzled funds. Articles 1–2 mention legal attachment actions by Union National Bank of Chicago but do not describe runs or suspensions for the bank itself. No suspension, reopening, or receivership of this bank is reported in the provided texts.

Events (3)

1. December 27, 1884 Chartered
Source
historical_nic
2. September 1, 1900 Voluntary Liquidation
Source
historical_nic
3. August 25, 1932 Run
Cause
Rumor Or Misinformation
Cause Details
Widespread rumors that the bank had been robbed and that the president (Dickson) had taken large sums; gossip and exaggerated reports prompted mass withdrawals.
Measures
Tellers paid out to depositors; reserve cash ordered sent up from vaults; extra police were called.
Newspaper Excerpt
The line grew and the funds in the bank diminished. People became panic-stricken... The story grew more terrifying as it was repeated.
Source
newspapers

Newspaper Articles (3)

Article from The Seattle Post-Intelligencer, November 23, 1893

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Article Text

DR. CALHOUN ON THE FAIR. He Explains About the Attachment on State Building-Wante Investigation. Dr. G. V. Calhoun. executive World's fair commissioner for Washington, passed through the city last night on his way to his home at La Conner. At the Arlington he explained to a reporter about the dissolving of the attachment for $1,000 by the Union National bank, of Chicago. "The draft had been received by the Merchants' National bank, of Tacoma," said he, "two or three days before the bank failed, but had never been credited up to the Union National bank. The receiver refused to so credit it without permission from Comptroller Eckels, and pending the getting of this permission the state building at the fair was attached. As soon as Comptroller Eckels ordered the receiver of the Merchants' National to credit up the draft of the Union National the attachment was dissolved. "Yes, I have heard that an investigation of the doings of the commission will be asked for, and, speaking for myself, I wish one would be ordered. As for the forestry exhibit, the criticisms upon it have been made by those who are not posted on the organization of the exhibit. At first it was intended to make our principal forestry exhibit in the state building, and in fact to have the building itself be a part of that exhibit, and hence it was not at first contemplated to make a competitive exhibit in the national forestry building. But later, as we had more than we could conveniently display in the state building,


Article from People's Voice, November 24, 1893

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Article Text

D. Case now has possession of the Bellvue postoffice, At Bunker Hill, Ind., several drunk. en loafers poured coal oil over the clothing of James McDonald, an old man, and ignited it, burning McDon. ald nearly to death. At Frankfort, Ky., William M. Cable was shot and instantly killed by a man named Davis Sunday afternoon. Davis was arrested and placed in jail. A family affair was the cause. Just after the explosion in Sant An' der the other day many people hurried to the railroad station to leave town as fast as possible. In the rush to enter the trains large numbers were injured. It is reported that Colonel North, the "nitrate king," supported by Lord Randolph Churchill and Mr. Ashmead Bartlett, will contest West Leeds in opposition to Mr. Herbert Gladstone at the next election. Brown-Over hall, near Rugby, Eng., which the dower Duchess of Southerland has taken for the winter, was entered by burglars Wednesday evening and valuable jewelry belonging to visitors was stolen. The assistant secretary of the treasury Wednesday advised Mrs. Potter Palmer, in reply to a question as to how best settle the wrangling of the board of lady managers, to try a harmonious settlement. Lawyer Francis S. Weeks, the selfconfessed embezzler, whose extradition from Costa Rica caused so much talk, was Wednesday taken to Sing Sing to serve out his sentence of ten years' imprisonment. The death on Wednesday, of Mrs. Toole and daughter, from drinking poisoned liquor, is laid to one of the two Toole boys, for the reason that the father was about to die and had willed all his property to Mrs. Toole. The sheriff took possession of the Washington building at the world's fair grounds Monday. He acted on a tachment proceedings brought in the superior court by the Union National Bank of Chicago to enforce claims of R. M. Hall, of Georgia, D. F. Stacy, of Minnesota, and Peter Veling, of Wisconsin, appointed last spring to examine the pine on the ceded Chippewa lands. in Minnesota, have been -Seu pue JOJ distinsed lect of duty. The wife of Adam Bright, the Miama county, O., farmer, who was -unq 4q $4,500 JO not deceed CO men, died Monday afternoon from the shock caused by the loss. She had worked all her life to help earn the money, Miles Baird, 14 years old, of San Francisco, wanted to see how well his fellow pupils would act in case of real fire and so set the Clement school there on fire. The 700 pupils all marched without panic and he is under arrest. 3 The entire hill country of Tonkin, Siam, is in revolt. The French forces there are impotent and confined to their posts. The native soldiery demoralized and rebelious, and the railway and road works have been abandoned. The five Russian convicts who were picked up by the whaler, Morgan, in Okhotsk sea and brought to San Francisco, prove not to be political offenders but felons. The whaler bearing the other five refugees is now due at 'Frisco. Now that Schieg, the absconding teller of the bank of Minneapolis is to be brought back, it is rumored that some new light may be thrown on the suicide of Cashier Bofferding, which took place the day after Scheig's falcation became known. The firing upon the American flag at the port of Amapala on Monday was done by President Vasquez's direct orders. sach was his keen desire to get hold of his old enemy, Barilla, but he now throws the entire blame on the commander of the port. George M. Rose. of St. Paul, a chemist and consulting engineer, well known in Europe and the United States, died Monday at Chicago from an attack.of pneumonia. He. with his wife, had been stopping at the Grand Pacific, where he died. A detachment of Troop E. Fourth cavalry, has left Vancouver, Wash., for the Bitter Root mountains, Montana, to search for General Carlin's son and uo Spokene ter очм 'eay JO Party 8 hunting expedition weeks ago and P are now two weeks overdue. The sheik in command of the beseiging forces at Melilla was killed by ashell from the Spanish cruiser Gonde de Venadito on November 6. The Riffans are reported to be discouraged. Several thousand of them thought to have withdrawn. u L. F. Menage, president of the wrecked Guarantee Loan company of Minneapolis, who fled the country afthe failure, has been located in Guateu mala, and Secretary Gresham has 7. wired Minister Young to have him p placed under arrest at once. p An epidemic ofinfluenza that counts at least as many victims as could grippe in its palmiest days, prevails


Article from St. Albans Daily Messenger, August 25, 1932

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Article Text

CHICAGO CUBS FIGHT FOR NATIONAL PENNANT WHAT HAS HAPPENED Peeved that her husband has broken - engadement with her to attend inesting bankers in Philadelphia, Phyllis Dickson goes out with Cyril Cluett, cashier in the bank. He insists drink. that the woman go his room Cluett disarrive, the they chief teller, in his Cluett orders Matt out. apartment. Mrs. Dickson leaves with him. The morning they discover that the bonk has been robbed and the watch. man killed. Matt is held on suspicion and refuses to give any information regarding his movements the night NOW 00 ON WITH THE STORY "Where to Matt?" Dickson inquired. "In Mr. Sampson's office,". Helen replied. The president went directly there. Matt was sitting in chair with the detectives standing beside him. Dickson addressed the inspector. "This is ridiculous! You can't hold the boy on vague suspicion." *Tm afraid must, Mr. Dickson. "Why pick on him?' "It's an Inside job, that's cinch Whoever did it, had a pretty good picture of the tayout. Now, Brown here, is in charge of the vaults, isn't "Yes," Dickson admitted, "but somebody else might have tampered with the locks." "He admits that he set the time clock, himself.' The Inspector said. Matt looked straight into the eyes of the Inspector. did. I set it for 9 o'clock this morning. "Then who changed it?" snapped the Inspector. Matt was helpless. "I don't know." "Walt a minute." Dickson interrupted as an idea struck him, an Idea that would absolve Matt. "What time did this thing happen? "The clock opposite the yault Union National was a phony bank." "Union National? Inquired his hearer. "You had all your money, in that bank, Soon people were rushing in all directions toward the bank. The business room was crowded. Long lines were waiting outside. Tellers were working to capacity: paying out money as depositors withdrew their accounts. Throughout the city gossip was rampant. Tongues were wagging. The story grew more terrifying as it was repeated. Each new reciter added color to the former version. "I tell you got it from the best authority. Dickson got away with several millions.' "That's the end of the Union National Bank. That's the trouble nowadays; you don't know who you can trust.' "Say, there's something wrong with the Union National Bank.' "Brother, that ain't the half of it. If you've got any money there, you can kiss it goodbye. If you've got any friends you'd better call them up. Even in speakeasies the story was spread. "Can you imagine that! What bank did you say it was "The Union National Bank. They're broke. They haven't got a dime. 'Listen, Jack, go down to the Union National Bank and take your money out of there. Don't ask me how know. told you. it's on the rocks. If you've got any friends you'd better tell them too." Friends told friends, and they in turn told others. The line grew and the funds in the bank diminished. People became panic-stricken. Widows, orphans, old and young. rich and poor, all rushed frantically toward the bank. Stenographers took time off without asking permission. Business men forgot was stopped by a bullet at 12:09," the Inspector replied. "All right," Dickson smiled. "If the boy proves an alibi, he's clear he If he can, yes," the Inspector admitted. "Why, certainly he can." Dickson turned to the lad. "Matt, now all you've got to do is to tell them where you were between 12 and 12:30 and everything will be all right." Matt averted Dickson's gaze. "I've already told them. was home." "There you are," Dickson smiled as though the thing were settled.' "That's what he says. I've got a man from headquarters checking up on it now. Dickson was confident. "Good." He turned to Matt. "Well, you've got nothing to worry about, son. Soon as the report comes in you'll be released.' The shallow brained, jazz mad, dizzy little operator at the switch board got busy the minute she entered the bank. The first thing she did was call her chum. "Hello, Mame. This Gert. Say, listenjust heard something that'll make your head swim. Listen to this, the bank was robbed last night. Can you imagine it! Yeah-over hundred thousand dollars! Some exeltement. huh? The chief teller's in an awful jam.' Mame immediately got busy and called up her friends. "Hello, Lou," she said. "Did you hear what happened over to the Union National Bank? It was robbed of over $200,000. Can you beat it." Mame's and Gertie's friends got busy and soon the wires were hot. Men and women all over the city were spreading the news. "Stole over quarter of a million," one declared. thought the Union National was pretty solid," said another. did too,' declared a third. "Half m' lion is lot of money," said a four.h. wouldn't be surprised if they closed their doors." Messenger boys told bootblacks. Shoe shiners told customers. "The messenger boys just tol' me, that Mr. Dickson took all the money himself,' declared one. "And it was more than million." "More than a million dollars!" The customer exclaimed in excitement. "Cross my heart. And sure hope that man gets a long time in jail, too." The man leaped out of the chair. "Never mind my shoes, Sam." In another place patron declared, "I always said that the deals. Workers left their benches and all rushed toward the bank. "Better give the men in your plant a couple of hours off." one factory owner would tell another. Superintendents of apartment houses called up all the tenants. "The Union National Bank is sunk. Better get your money out if you can." In the bank tellers were working to capacity. "Closing your account?" "Yes, sir. I'm closing my ac. count. wouldn't leave nickel in this bank.' "It's getting SO a guy's money ain't safe unless it's in his sock. "They re alla bunch of crooks." "You said it." Thus the line outside the bank worked itself into frenzy Behind the grating, tellers were calling for more money and assistants were actively engaged supplying it. trying in vain to stem the tide and impress the public with the soundness of the bank by being able to meet the demand. Dickson was torn between two duties-that of seeing the depositors paid and that of clearing Matt. "All know is that the bank's been robbed, and a murder's been committed,' declared the inspector. "The way see it, Brown here, looks guilty." "What are you talking about!" Dickson exclaimed. "He had no more to do with than you did." "Maybe." The inspector smiled knowingly "But I'm taking no chances. The kid's got record. "So have you. So have so has everybody. got record. What difference does that make? You can't afford to go pinning crimes on people just because Dickson was interrupted by the entrance of Sampson. "Mr. Dickson! Can see you for a minute? "No. I'm busy. See me later." "But this important, Mr. Dickson. Looks like there was a run on the bank." "A run on the bank!" "The line lobby's filled and there's a long 'What are you talking about?" Dickson was amazed. His was sound. The people in town should have confidence in him. They'd paid all demands since the bank opened. That should satisfy depositors that the bank was sound. They've been coming in steadily all morning. have called for some extra police said Sampson. "All right, send down to the vaults and have our reserve cash sent ordered. up here right away," Dickson (TO BE CONTINUED)