University State Bank

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: June 13, 1931
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 6db90a1f

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Multiple short-lived runs occurred (June 13, 1931 and June 26, 1932). Both were halted quickly by the bank president's actions and community support; there is no mention of suspension or closure. OCR errors in articles corrected for readability (e.g., 'University State Bank', President W. Hoff).

Events (2)

1. June 13, 1931 Run

Cause: Rumor Or Misinformation
Cause Details: Nervousness among depositors after recent large banking merger and general unease; no specific insolvency allegation reported.
Measures: President W. Hoff fetched and pinned carnations on depositors' lapels and offered free use of safety deposit vaults; reassurances led many to redeposit funds.
Newspaper Excerpt: The run died out. ... President Hoff sent out for carnations ... offered the bank's safe deposit boxes to those who were drawing out their savings.
Source: newspapers

2. June 26, 1932 Run

Cause: Rumor Or Misinformation
Cause Details: General depositor uneasiness leading to withdrawals; community statements and public reassurances calmed depositors.
Measures: Community rallied with placards and public endorsements; bank officers (including President Hoff) and local clergy made speeches reassuring the public; doors remained open and operations continued.
Newspaper Excerpt: When uneasy depositors hurried down 55th street Thursday morning to withdraw their funds ... placard: 'The University State bank is strong bank.' ... The run weakened. ... all was quiet and Mr. Hoff was his thanks.
Source: newspapers

Newspaper Articles (4)

1. June 13, 1931 The Washington Herald Washington, DC

Article from The Washington Herald, June 13, 1931

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Article Text

Chicago Banker Ends Run With Gala Fete June bank, which Chicago on has had large number since the big banking merger early this week, was turned into the University State event Bank when President Hoff sent out for carnations for every body in line and then offered the bank's safe deposit boxes to those who were drawing out their savings. The run died out.

2. June 13, 1931 The Baltimore Sun Baltimore, MD

Article from The Baltimore Sun, June 13, 1931

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Article Text

President Uses Flowers To Halt Run On His Bank Redeposit Funds Pins Their Lapels Chicago, June episode which Hoff, president University Bank, placed carnations lapels those gathered the institution their posits short what promised of Viewing the long, melancholy assembled the Mr. Hoff messenger the sonally the the left he offered vaults purposes Many got back line their funds. The ended

3. July 8, 1931 The Spokane Press Spokane, WA

Article from The Spokane Press, July 8, 1931

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Article Text

FLOWERS TO HALT RUN ON HIS BANK and resourcefulness prevented run on the University State bank in Chicago. W. Hoff, president, looked out of his office. long line of men with gloomy faces He sent messenger for 500 carnations, then walked to the end of the line. On the lapel each gloomy customer, Hoff pinned flower. Those had withdrawn their money were greeted as about to leave the institution. Hoff offered the free use the institution's safety vaults until had selected new Result: The run stemmed than an hour after started. The bank has noticed no decrease in business

4. June 26, 1932 Chicago Tribune Chicago, IL

Article from Chicago Tribune, June 26, 1932

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Article Text

FRIENDS AGAIN STOP RUN UPON UNIVERSITY BANK The loyalty of friends in the community again played major role in the of State just did year ago this month when run the bank was cut short. When uneasy depositors hurried down 55th street Thursday morning withdraw their funds, in nearly every store window this placard: bank, the University State bank, is strong bank. We are not withdrawing; [Signed] 55th Street Business Men's Further than this, they were met at the bank with signs and verbal assurance as to the Institution's soundNot only did President Hoff and other officers the bank make speeches but Msgr. Shannon, pastor Thomas the Aposchurch, took the rostrum. In addition there copies resolution signed Simeon E. Henry Schultz, and Garfield V. Cox, and the of Chicago, and by D. Gor don Ramsay and other leaders the 55th Street Business The run weakened. the doors closed o'clock, hour later than usual, all was quiet and Mr. Hoff was his thanks.