4776. Deerfield State Bank (Deerfield, IL)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
*
Location
Deerfield, Illinois (42.171, -87.845)

Metadata

Model
gpt-5-mini
Short Digest
4424e099

Response Measures

Accommodated withdrawals

Description

Multiple syndicated news pieces describe an attempted run on the Deerfield State Bank that was halted by the cashier J.W. McGinnis, who refused to pay out large lump sums and insisted on fair play so all depositors would have an equal chance. No suspension, receivership, or reopening is mentioned — only an attempted/halting of a run during the period of widespread bank closings. The articles refer to the event as occurring last summer without a precise date; I therefore left the event date null.

Events (1)
1. * Run
Cause
Macro News
Cause Details
General panic amid widespread bank closings; depositors came to withdraw funds during a period of bank failures/closings.
Measures
Cashier refused to pay out lump sums to first comers, allowed depositors to take only what they needed and postponed full closings so all depositors would have an equal chance; no moratoriums or formal suspension invoked.
Newspaper Excerpt
A demand for fair play stopped a bank run... J. W. McGinnis, cashier of the Deerfield State Bank... refused to close out any account unless all depositors had an equal chance to withdraw their money.
Source
newspapers

Newspaper Articles (7)
1. January 22, 1933 Muskogee Daily Phoenix and Times-Democrat Muskogee, OK
Article from Muskogee Daily Phoenix and Times-Democrat, January 22, 1933

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Article Text

PLEAS FOR FAIR PLAY car AVERTED RUN ON BANK Story Revealed How Official Told Depositors They Could Have Enough for Needs NO ACCOUNTS CLOSED OUT CHICAGO, Jan demand for fair play stopped bank run suburb of less than 2000 persons here last when bank closings were at their height. The story of how the bank cashier to close out any unless all depositors equal chance to withdraw their money became known just W. McGinnis, cashier of the Deerfield State bank, in the small town of Deerfield some 26 miles north of Chicago just west of the cialite suburbs of Highland Park and Ravinia, was the hero of the tale, All Get Chance There are only 1820 inhabitants in Deerfield, but McGinnis met the forerunners of excited depositors with this statement: say you need your money and have come to close out your account. We have lot of depositors in this bank and they are all dear to us. Some of you are here, others get here. Some are feeble, some sick, away some have been called to see sick relatives, some in the hospital, some are away work, and some are loyal to the that they will not come. So will have this party every depositor can come, for not favor you and neglect the others. any of you need money, surely you need, being host to this am to judge of what you need today and you can if more can have what you need, even If you to borrow from us, but we are not closing accounts for anyone. Our Rules Citing the fact that there is run unless bank officials and pay out the money, McGinnis pointed out that banker has yet been able control his entire satisfaction the long, deposits runs.' He didn't set up any rules, ask for 30 or 60-day notices, but he refused to pay out money lump sums to the comers at the expense of the other depositors. McGinnis put his thoughts on the subject in lengthy poem from which the following two. stanzas are taken: was workin' at the clover In the lower eighty patch Jes' a-thinkin' how the market Might get better fer this batch, heerd naber callin' Frum the road by Hiller's mill, sayin' how might bust Afore made the hill. I've never bin banker, But I've trusted you heap, An' figgere'd that our money You would always safely keep. But when you start in payin Folks warnin' sound, It's lookin' purty shady If yer pile don't go aroun'."

2. January 29, 1933 The Buffalo Times Buffalo, NY
Article from The Buffalo Times, January 29, 1933

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Article Text

CASHIER ENDS RUN ON BANK Insists on Fair Play for All and Halts Panic CHICAGO, Jan. 28 (U.P.)-A demand for fair play stopped a bank run in a suburb of less than 2000 persons here last summer when bank closings/were at their height. The story of how the bank cashier refused to close out any account unless all depositors had an equal chance to withdraw their money became known just recently. J. W. McGinnis, cashier of the Deerfield State bank, in the small town of Deerfield, some 25 miles north of Chicago and just west of the socialite suburbs of Highland Park and Ravinia, was the hero of the tale. There are only 1820 inhabitants in Deerfield, but McGinnis met the forerunners of excited depositors with this statement: "You say you need your money and have come to close out your account. We have a lot of depositors in this bank and they are all dear to us. Some of you are here, others cannot get here. Some are feeble, some sick, some away on a vacation, some have been called to see sick relatives, some are in the hospital, some are away at work, and some are so loyal to the bank that they will not come. So we will have to postpone this party until every depositor can come for we will not favor you and neglect the others. "If any of you need money, you can surely have what you need, but being host to this party, am to be judge of what you need today and you can come back tomorrow, if you need more. You can have what you need, even if you have to borrow it from us, but we are not closing accounts for anyone. Citing the fact that there is no run unless bank officials and clerks pay out the money, McGinnis pointed out that "no banker has yet been able to control to his entire satisfaction the long, insidious. month-by-month decrease in deposits runs.' He didn't set up any rules, ask for moratoriums or 30 or 60-day notices, but he refused to pay out money in lump sums to the first comers at the expense of the other depositors. McGinnis put his thoughts on the subject in lengthy poem from which the following two stanzas are taken: was workin' at the clover In the lower eighty patch Jes' a-thinkin' how the market Might get better fer this batch, When heerd naber callin' Frum the road by Hiller's mill, A sayin' how yer bank might bust Afore made the hill. "I've never bin banker, But I've trusted you head, An' figgere'd that our money You would always safely keep. But when you start in payin' Folks without a warnin' sound, It's lookin' purty shady If yer pile don't go around'."

3. January 31, 1933 The Durham Sun Durham, NC
Article from The Durham Sun, January 31, 1933

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Article Text

Demand for Fair Play Halts Run on Chicago Bank CHICAGO Jan 31-A demand for fair play stopped bank run in suburb of less than 2,000 persons here last summer when bank closings were at their height. The story of how the bank eashier to close out any all depositors had an equal chance to withdraw their money known just W. McGinnis. cashier of the Deerfield State bank, in the small town of Deerfield some 25 miles north of Chicago and just west of the socialite of Highland Park and Ravinia, was the hero of the tale. There are only 1,820 inhabitants in Deerfield. but McGinnis met the forerunners excited depositors with this All Get Chance "You say you need your *money and have come to close out your account We have lot of depositors in this bank and they are all dear to us. Some of you are here, others cannot get here. Some are feeble, some sick. some away on vacation, some have been called to see sick relatives some are in the hospital. some are away at work, and some are so loyal to the bank that they will not come So we will have postpone this party until every depositor can for we will not favor you and neglect the others "If any of you need money, you can surely have what you need. but being host to this party. am to judge of what you need today and you can come back tomorrow, if you need more. You can have what you need, even if you have to borrow a from us, but we are not closing accounts for anyone." Citing the fact that there is no run unless bank officials and clerks pay out the money McGinnis pointed out that "no banker has yet been able to control to his entire satisfaction the long. insidious, month-bymonth decrease in deposits runs." Out Rules He didn't set up any rules, ask for or 30 notices, but he refused to pay out money in lump sums to the first comers at the expense of the other depositors. McGinnins put his thoughts on the subject in lengthy poem from which the following two stanzas are taken "I was workin' at the clover In the lower eighty Jes' a-thinkin' how the market Might get better for this batch, When heerd naber callin' Frum the road by Hiller's mill, A sayin' how yer bank might bust Afore made the hill I've never bin banker But I've trusted you heap, An figgere'd that our money You would always safely keep. But when you start in payin' without It's lookin' purty shady If yer pile don't go aroun'."

4. February 4, 1933 The Anniston Star Anniston, AL
Article from The Anniston Star, February 4, 1933

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Article Text

BANK CASHIER DEMANDED FAIR PLAY FOR ALL Halted Attempted Run on Chicago Suburb's Bank CHICAGO, Feb. 4. (U.P.)-A demand for fair play stopped a bank run in a suburb of less than 2,000 persons here last summer when bank closings were at their height. The story of how the bank cashier refused to close out any account unless all depositors had an equal chance to withdraw their money became known just recently. J. W. McGinnis, cashier of the Deerfield State Bank, in the small town of Deerfield some 25 miles north of Chicago and just west of the socialite suburbs of Highland Park and Ravinia, was the hero of the tale. There are only 1,820 inhabitants in Deerfield, but McGinnis met the forerunners of excited depositors with this statement: "You say you need your money and have come to close out your account. We have a lot of depositors in this bank and they are all dear to us. Some of you are here, others cannot get here. Some are feeble,- some sick, some away on vacation, some have been called to see sick relatives, some are in the hospital, some are away at work, and some are so loyal to the bank that they will not come. So we will have to postpone this party

5. February 8, 1933 Santa Rosa Republican Santa Rosa, CA
Article from Santa Rosa Republican, February 8, 1933

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Article Text

BANK CASHIER PLAY FOR ALL Official's Action Halted Run On Chicago Suburban House mand for fair play stopped bank run suburb of less than 2,000 here last when bank closings their height. The story of how the bank cashrefused close count unless all depositors had chance to withdraw their money became known just cently. W. McGinnis. cashier of the Deerfield State Bank, in the small town of Deerfield some 25 miles north of Chicago and just west socialite suburbs of Highland Park and Ravinia. was the hero of the There only 1,820 inhabitants in Deerfield, but McGinnis met the of excited depositors with this statement: ALL GET CHANCE you your money and come to close out your account. depositors this bank and they are dear Some you are here, others cannot get here. Some are feeble sick, some away vacation, some have been called to sick relatives, some are in the hospital, some are away and some are loyal at work, the bank that they will not come. So we will have to post pone this party until every deposcan come, for favor you and neglect the others. "If any of you need money, you can surely have what you but being host to this party, am judge of what you need and can back today you if need more You morrow, you can have you need, even if you have to borrow from us, but we are not closing accounts for any Citing the fact that there is no unless bank officials and clerks pay out the money, McGinnis pointed that "no bank has yet been able to control his entire satisfaction the long, insidious, month by month decrease deposits runs." OUR RULES He didn't up any rules, ask for or notices, but he to pay out money in lump sums to the first comers at the expense the other depositors. McGinnis put his thought on the subject in lenthy from which the following two stanzas are taken: workin' at the clover the lower eighty patch, Jes' a-thinkin' how the market Might get better fer this batch, heerd naber callin' From the road by Hiller's mill, A sayin' yer bank might bust Afore made the hill. never bin banker, But I've trusted you heap. An' figgered that our You would always safely keep. when you start in payin Folks without sound, It's lookin' purty shady If yer pile don't go aroun'."

6. February 12, 1933 Dayton Daily News Dayton, OH
Article from Dayton Daily News, February 12, 1933

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Article Text

BANK CASHIER DEMANDED FAIR PLAY FOR ALL He Halted an Attempted Run on a Suburban Chicago Institution. CHICAGO, Feb. 11.-A demand for fair play stopped bank run in suburb of less than 2000 persons here last summer when bank closings were at their height. The story of how the bank cashier refused to close out any account unless all depositors had an equal chance to withdraw their money became known just recently. J. W. McGinnis, cashier of the Deerfield State bank, in the small town of Deerfield some 25 miles north of Chicago and just west of the socialite suburbs of Highland park and Ravinia, was the hero of the tale. There are only 1820 inhabitants in Deerfield, but McGinnis the forerunners excited depositors with this statement: say you need your money and have come to close out your account. have lot of depositors in this bank and they are all dear Some you are here, others cannot get here. Some are feeble, some sick, some away vacation, some have been called to see sick relatives, some are the hospital, some are away work, and some are loyal to the bank that they will not come. So will have to postpone this party until every can for not favor you and neglect the others. "If any you need money, you have what you need, but being this party, am to judge of what you need today and can back tomorrow, if need more. You you can what you need, even you have borrow from us, but we are not closing accounts for anyone." Citing the fact that there is run unless bank officials clerks pay out the money, McGinnis pointed out that "no banker has yet been able control his entire satisfaction the long, insidious, month runs. He didn't set up any rules, for or 60-day notices, but he refused to pay out money in lump sums to the first comers at the expense of the other depositors. McGinnis put his thoughts on the subject in lengthy poem from which the following two stanzas are taken: workin' the clover In the lower eighty patch -thinkin' how market Might get better fer this batch, When heerd naber callin' Frum road by Hiller's mill. sayin' how yer might bust Afore made the hill. I've never bin banker, But I've trusted you heap, figgere'd that our money You would always safely keep. But when you start in payin' Folks without warnin' sound, It's lookin purty shady If yer pile don't go aroun'."

7. February 26, 1933 The Paducah Sun Paducah, KY
Article from The Paducah Sun, February 26, 1933

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Article Text

AFTER FAIR PLAY DEMANDED Man Refuses to Pay Out Money to First Comers At Others' Expense CHICAGO, Feb. demand for fair play stopped bank run in suburb less than 2,000 persons here last summer when bank closings were their height. The story how the bank cashier refused close any account unless all depositors had an equal chance withdraw their money became known just recently. McGinnis, cashier of the Deerfield State Bank, in the small town Deerfield some 25 miles north of Chicago and just west socialite suburbs Highland Park and Ravinia, was the hero the tale. There only 1,820 inhabitants in Deerfield, McGinnis met the forerunners of excited depositors with this statement: All Get Chance "You say you need your money and have come to close out your account. We have lot of depositors in this bank and they are dear us. Some of you are here, others cannot get here. Some are feeble, some sick, some away vacation, some have been called relatives, some are the hospital, some away work, some are so loyal to the bank that they come. So will have postpone this party until depositor come, for every we will not favor you and neglect the others. any of you need money, can surely have what you need, but being host this party, am to be judge of what you need today and you can come back tomorrow, you need more. You can have what you need, even you have borrow from us, but are not closing accounts for Citing the fact that there no run unless bank officials clerks pay out the money, McGinnis pointout that banker has yet been able to control to his entire satisfaction the long, insidious, decrease in deposits Our Rules He didn't set up any rules, ask for moratoriums or 60-day notices, but he refused to out money in lump sums to the first comers the expense of the other depositors. McGinnis put his thoughts on the subject lengthy poem from which the following two stanzas are taken: workin' at the clover was In the lower eighty patch Jes' a-thinkin' how the market Might bet better fer this batch, When heerd naber callin' Frum the road by Hiller's sayin' how yer bank might bust Afore made the hill. I've never bin banker, But I've trusted you heap, An' figger'd that our money You would always safely keep But when you start in payin Folks without warnin' sound, It's lookin' purty shady If yer pile don't go aroun'."