Farmers State Bank - Medora, IL

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: January 21, 1933
Location: Medora, Illinois (39.174, -90.143)

Metadata

Model: gpt-5-mini
Short Digest: 5058325e

Response Measures

Full suspension

Other: Mayor declared a temporary banking holiday; community meeting to present statement and restore confidence.

Description

Article (Alton Evening Telegraph, 1933-01-23) reports a run that depleted cash, the mayor declared a temporary banking holiday (suspension) Saturday noon, and a meeting/statement was expected to restore confidence so the bank could resume operations. Dates inferred from publication: suspension occurred the preceding Saturday (likely 1933-01-21). Cause of the run not specified beyond withdrawals; classified as 'other'.

Events (3)

1. January 21, 1933 Run

Cause Details: Large, continued withdrawals depleted the bank's cash; no specific trigger (rumor or bank-specific failure) is described.
Measures: Community meeting called; officers to present statement of condition to restore confidence.
Newspaper Excerpt: There had been run on the bank, he said, but gradually depleting the cash.
Source: newspapers

2. January 21, 1933 Suspension

Cause Details: Mayor declared a temporary banking holiday in response to continuing withdrawals and depletion of cash.
Newspaper Excerpt: The bank temporarily suspended Saturday noon when the village mayor, Dr. Hunt, declared temporary 'banking ...'
Source: newspapers

3. January 23, 1933 Reopening

Newspaper Excerpt: frank statement would restore confidence, and to halt could set up, the bank could resume; ... meeting called for this afternoon in Medora ... final action ... would indicate that frank statement would restore confidence, and the bank could resume operations.
Source: newspapers

Newspaper Articles (1)

1. January 23, 1933 Alton Evening Telegraph Alton, IL

Article from Alton Evening Telegraph, January 23, 1933

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Article Text

Depositors Officers Present Situation Facing Institution At Meeting Calls Holiday Mayor Withdrawals Made Steady Says President meeting called for this afternoon in Medora an effort made to an arrangement under which the Farmers' State Bank that carry The bank temporarily suspended Saturday noon when the village mayor, Dr. Hunt, declared temporary "banking Tobin, president of bank. today that lieved Institution that had been found impossible the face continuing withdrawThere had been run on the bank, he said, but gradually depleting the cash. Mayor's Statement At the meeting, to held this afternoon school the actual state of bank's affairs be presented, he said, final action the ment the depositors and It cated. that frank statement would restore confidence, an to halt could set up, the bank could resume Mayor Hunt said that his action declaring had been for the interests the comunity face continuing money and give opportunity today which community leaders could together He said that stores and business places likely afternoon interested the everyone bank could attend the meeting. His action, he said, been taken Saturday that bank's might have timely consideration there were possibility run on the bank eventuating. Capitalized at $35,000 The Farmers' State Bank talized $35,000, the statement listed resources of $236.The statement showed cash from other banks, sources other bonds and loans collateral, $28,224.55; other loans loans estate, $15.74; other $2,949.05; banking house, furnishfixtures, $5,585.79; total Medora 20 miles north of in Macoupin county, and farming center. The Important 1930 census gave the population 367.