4737. banks in Chicago (Chicago, IL)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
June 1, 1932*
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
be5596dd

Response Measures

Full suspension

Other: Many articles describe a coordinated 'whispering campaign' (misinformation) blamed for June 1932 runs in Chicago; multiple banks closed (over 40) temporarily or longer. Specific single bank not identified.

Description

Articles describe organized whispering/propaganda campaigns in June 1932 that threatened runs on many Chicago banks and closed over 40 institutions. No specific single bank suspension/reopening for the named bank is described here; event is a run (widespread rumor/whisper campaign). Bank name is generic/multiple banks, so unsure.

Events (1)
1. June 1, 1932* Run
Cause
Rumor Or Misinformation
Cause Details
Organized whispering/propaganda campaign (accused Communist-directed) that spread rumors undermining depositor confidence in Chicago banks in June 1932.
Measures
Banks reportedly stored large amounts of cash on hand to meet demands of depositors.
Newspaper Excerpt
whispering campaign against the confidence of bank depositors...the runs which threatened every bank in Chicago in June.
Source
newspapers

Newspaper Articles (6)
1. July 28, 1932 The Saginaw News Saginaw, MI
Article from The Saginaw News, July 28, 1932

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Article Text

Secret Service Seeks Plotters Against Banks (By Associated Press.) July of propaganda found in hotel sought today the secret service and as of paign against the confidence of bank depositors government officials and police blamed communist for integrity financial institutions in many large larly the which threatened every bank in Chicago last month It said by Smith, prosecuting at Pontiac have by Soviet William Foster. communist candidate for president denied his had sponsored campaign against the First National Bank of Pontiac man George Row that land, in letwas member of the party drastic sedition law 20 years' and against reformation of the ernment violence was eyed handiest weapon should be and connected with the Pontiac For the letters "Yours and discussed "bringing about some will lead the the unrest which to Chicago's June bank runs 40 includ more ing two the the city soundest cita dels to store upward of $100 000 cash on hand in order in demands of Traylor Blames Radicals. The situation lenger EVERY NIGHT definitely references in the ters sent that there progress here on in loop runs jugs president of Melvin the First National Bank and head of the He he believed the and that "plot to be he had reports from many that similar system used in frightening told of plan. discussed but startruns in many ing key cities Other Chicago bankers told 300 how radicals bank accounts and then them spreading news of the "run

2. July 28, 1932 Grand Haven Tribune Grand Haven, MI
Article from Grand Haven Tribune, July 28, 1932

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Article Text

SWEEP NATION TO FIND PLOTTERS Uncovering of Pontiac Conspiracy Puts Officers on Wide Hunt COMMUNISTS DENY CHICAGO, July thors of found Pontiac, Mich., hotel were sought today by the secret service and detectives everywhere the directors of nation-wide campaign against the confidence of bank depositors. Chicago bankers, government ficials and Michigan police unhesitatingly blamed communistic party for systematized attack the integrity of financial institutions many large cities, particularly the runs which threatened every bank in Chicago last month. was said by Smith, prosecuting attorney at Pontiac, to have been backed by Soviet Russia. Norman Foster, communist candidate for president, denied organization had sponsored whispering campaign against the First National Bank of Pontiac that man known George land, in whose room seditious were found, was member the party. PONTIAC, July hundred United States secret vice agents will be in Michigan Friday to investigate whispering campaigns against banks, tor Clarence Smith announced today as search for George Rowland, alleged leader of the paign this territory, was extendthe country.

3. July 28, 1932 The Times Herald Port Huron, MI
Article from The Times Herald, July 28, 1932

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Article Text

U. S. SECRET SERVICE MEN HUNT WHISPERERS (Continued from Page One) plot said by Capt. Ira H. Marmon police headed by George fug. itive. The campaign in Detroit was directed one bank. Thompson and three other the paid off time bank few depositors. had hunof thousands of dollars more he added. When the on banks refused to as the agitators those same scared depositors marched back again to re-deposit their money The first whispering campaign by meetings and them large depositors were their from the bank which the campaign was directed Foster Denies It Is Reds of found in Pontiac. Mich. hotel sought today by secret and detectives as the directors of nation-wide against the confidence of bank deChicago officials and Michigan police unhesitatingly blamed the Communist party for systematized attack on the integrity of financial institutions in many large particularly the runs which threatened every bank in Chicago in June. candidate for President. denied his had sponsored pering against the First bank of Pontiac that man as George Rowland. in seditious letters were found. was member of the party. By The Associated Press) New York. July Directors of the Consolidated Gas company New York today ordered the regular quarterly dividend of $1 the Sept. 15 to stock of record Aug. 9.

4. July 28, 1932 Fitchburg Sentinel Fitchburg, MA
Article from Fitchburg Sentinel, July 28, 1932

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Article Text

Russian Hand Seen in Plot Against Banks Michigan Prosecutor Says Soviets Back "Whisper Campaign" in America CHICAGO, July 28 (AP) Authors of communistic propaganda found in Pontiac, Mich hotel were sought today by the secret service and tectives everywhere as the directors of campaign against the confidence of bank depositors. Chicago bankers, government officials and Michigan police unhesitatingly blamed the communist party systematized attack on the integrity of financial institutions many large cities, particularly the runs which threatened every bank in Chicago last month It was said by L. Smith, prosecuting attorney Pontiac, to have been backed by Soviet Russia. William Foster, communist candidate for president, denied that his organization had sponsored whispering campaign against the First National Bank of Pontiac, that man known George Rowland, in whose room letters were found, member of the party. (Continued on Page Four)

5. July 28, 1932 The Montana Record-Herald Helena, MT
Article from The Montana Record-Herald, July 28, 1932

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Article Text

Bank Plotters Are Sought in Eastern Cities Communistic Party and Soviet Russia Get For Attack on Faith in Banks. CHICAGO, July of Communistic propaganda found in Pontiac, Mich., hotel were sought today by the secret service and detectives everywhere as the directors of nationwide campaign against the confidence of bank depositors. Chicago bankers, government officials and Michigan police unhesitatingly plamed the Communistic party for systematized attack on the integrity of financial institutions in many large cities, particularly the runs which threatened every bank in Chicago last month. It was said by Smith, prosecuting attorney Pontiac, to have been backed by Soviet Russia. William Foster, Communist candidate for president, denied his organization had sponsored whispering campaign agaoist the First National bank of Pontiac, or that man known George Rowland, in whose room ditious letters were found, was member of the party. Illinois' drastic sedition law, providing 20 years imprisonment and rected aganst "anyone who advocates reformation of the government by violence any other unlawful means." was eyed as the handiest weapon should any radicals be caught and connected with the Pontiac literature. Chicago's June bank runs closed more than 40 institutions, including two in the loop, and caused the city's soundest financial citadels to store upwards of in cash on hand in order to meet demands of depositors.

6. July 29, 1932 Livingston Enterprise Livingston, MT
Article from Livingston Enterprise, July 29, 1932

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Article Text

on for Seeking of found in Pontiac, hotel sought day by and detecthe directors against the fidence of bank depositors. Chicago bankers, government and Michigan police blamed the communist party for systematized attack the integrity financial institutions in large many cities, particularly the runs which threatened every bank in Chicago last month. said by Smith, prosecuting attorney Pontiac, to have been back of soviet Russia. didate for president. denied his ganization had campaign against the First National bank Pontiac, that man known George whose room seditious found, was member the party. Illinois' drastic sedition provid20 years' imprisonment and directagainst "anyone who advocates formation of the government by lence any other unlawful was eyed the handiest weapon should any radicals be caught and nected with the Pontiac literature. Chicago's June bank closed more than including in the Loop, and caused the financial to store wards of in cash hand order to meet demands of depositors.