Kincaid Trust & Savings Bank

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: October 19, 1929
Location: Kincaid, Illinois (39.589, -89.415)

Metadata

Model: gpt-5-mini
Short Digest: 2f802ac6

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected

Description

Article (1929-10-19) reports a run on the Kincaid Trust & Savings Bank but the bank 'managed to run' (i.e., continued operations) after aid was provided by the Peabody Coal Company. No suspension or closure is reported in the texts provided. Causes cited include decline in farm values and slump in the coal industry and nearby bank closures.

Events (1)

1. October 19, 1929 Run

Cause: Local Shock
Cause Details: Decline in farm values and slump in the coal industry; nearby local bank (Edinburg) closures contributed to depositor pressure.
Measures: Received liquidity support from Peabody Coal Company (company treasury made available); cash shipments (airplane deliveries mentioned for nearby banks).
Newspaper Excerpt: At the same time aid was forthcoming for the Kincaid Trust and Savings Bank, near here, which managed to run yesterday.
Source: newspapers

Newspaper Articles (1)

1. October 19, 1929 The Daily Independent Murphysboro, IL

Article from The Daily Independent, October 19, 1929

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Article Text

TAYLORVILLE RUN ON BANK Cash by Airplane Halts Demands And Quiets Depositors Late Banks close to half million here from Chicago by airplane yesterday, in its vaults. the State Bank was prepared meet all démands by its depositors here today. At the same time aid was forthcoming for the Kincaid Trust and Savings Bank, near here, which managed to run yesterday. The Peabody Coal Company. Springfield. notified the bank's officials that its treasury was free for the bank The on the two banks scortwhen two local banks Edinburg closed their doors terday total banks which have suspended in Christian county this week. decline in farm values and slump in the coal industry was blamed for closing of the Banks. The arrival of the airplane was two sacks the counters of the Farmers' The run ceased.