5681. Gary Labor Bank (Gary, IN)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
state
Start Date
August 18, 1930
Location
Gary, Indiana (41.593, -87.346)

Metadata

Model
gpt-5-mini
Short Digest
f12aa59b

Response Measures

Full suspension, Books examined

Other: Board closed bank voluntarily pending an audit by deputy state bank commissioner.

Description

Multiple contemporaneous articles (Aug 19, 1930) report a run on the Gary Labor Bank on the previous day that depleted reserves; the board closed the bank pending an audit. No article in the set reports a reopening or permanent receivership, so outcome is unclear; classified as run leading to suspension with uncertain final status. 'Labor' does not clearly indicate charter type, so bank_type set to unknown.

Events (2)

1. August 18, 1930 Run
Cause
Local Banks
Cause Details
Run blamed on uneasiness caused by recent closings of other Gary banks (e.g., Midcity State Bank and its branch).
Measures
None specific to stop withdrawals reported; the run prompted the board to close the bank pending an audit.
Newspaper Excerpt
A \run\ on the bank yesterday depleted its reserves and caused the closing.
Source
newspapers
2. August 19, 1930 Suspension
Cause
Local Banks
Cause Details
Board closed the bank after the depletion of reserves from the run, which was attributed to nervousness following other local banks' failures/closures.
Newspaper Excerpt
The Gary Labor Bank was closed by its board of directors today, pending an audit of its books.
Source
newspapers

Newspaper Articles (9)

Article from The Vincennes Sun-Commercial, August 19, 1930

Click image to open full size in new tab

Article Text

DOORS Institution In Nine Days Closed. GARY, Ind., Aug. bank closed by its Gary Labor was board of directors today, pending an audit of its books. State SenNedjl, of Whiting, ator president of the institution. on the bank yesterday deits reserves and caused the pleted closing. labor bank was the fourth The Gary institution shut its doors within nine days. Melin, cashier of the bank, said the closing was voluntary and that there was nothing fundamentwrong with the institution. Melvin announced the bank had asked Thomas D. Barr, deputy state bank commissioner, to make


Article from The Daily Independent, August 19, 1930

Click image to open full size in new tab

Article Text

Another Gary Bank Closes GARY, IND., Aug. The Gary Labor Bank was closer by its Board of Directors today, pending an audit of its books. State Senator Nedjl. or Whiting. is president of the institution. "run" on the bank yesterday depleted its reserved and caused the closing. The Labor Bank was the fourth Gary institution to shut Its doors within nine days. Melin. cashier of the bank, said the closing was voluntary and that there was nothing fundamentally wrong with the institution.


Article from Evening Star, August 19, 1930

Click image to open full size in new tab

Article Text

4TH GARY BANK CLOSES Small Run on Institution Blamed on Others' Closing. GARY, Ind., August 19 (P).-Another Gary bank was closed today-the fourth within a week and the third within a day. The Gary Labor Bank, organized in 1925, announced it would remain closed today to protect its resources. A small run upon the institution late yesterday. blamed upon uneasiness due to the closing of the Midcity State Bank and its branch. the Fifth Avenue Bank. led the directors to take this action, they explained. The Gary Labor Bank is located at Sixth and Massachusetts avenue. in the heart of the city. It has total resources of $670,000. State Senator J. J. Nejdl of Whiting is president.


Article from The Indianapolis Times, August 19, 1930

Click image to open full size in new tab

Article Text

GARY BANK CLOSED Run Forces Action: Fourth Within Nine Days. Bu United Press GARY, Ind., Aug. 19.-The Gary. Labor bank was closed by its board of directors today, pending an audit of its books. State Senator J. J. Nedjel of Whiting, is president of the institution. A "run" on the bank Monday depleted its reserves and caused the closing. The Labor bank was the fourth Gary institution to shut its doors within nine days. D. D. Melin, cashier, said there was nothing fundamentally wrong with the institution. Melin announced the bank had asked Thomas D. Barr, deputy state bank commisisoner, to make an audit. Until the audit has been made, he said, no action will be taken toward reopening the institution.


Article from Muncie Evening Press, August 19, 1930

Click image to open full size in new tab

Article Text

FOURTH BANK CLOSES ITS DOORS AT GARY GARY, Ind., Aug. 19.-The Gary Labor Bank was closed by its board of directors today, pending an audit of its books. State Senator J: J. Nedjl, of Whiting, is president of the institution. A "run" on the bank yesterday depleted its reserves and caused the closing. The Labor bank was the fourth Gary institution to shut its doors within nine days. D. D. Melin, cashier of the bank, said the closing was voluntary and that there was nothing fundamentally wrong with the institution. Melin announced the bank had asked Thomas D. Barr, deputy state bank commissioner, to make an audit. Until the audit has been made, he said, no action will be taken toward re-opening the institution China has a mountain of alum 100 feet high.


Article from Waukegan News-Sun, August 19, 1930

Click image to open full size in new tab

Article Text

FOURTH BANK CLOSES IN GARY IN WEEK GARY Ind. Aug. The Gary Labor bank was. closed by its board of directors today, pending an audit of its books. State Senator J. J. Nedjl, of Whiting. is president of the nstitution "run" on the bank yesterday depleted its reserves and caused the closing The Labor bank was the fourth Gary institution to shut its doors within nine days. D. D. Melin, cashier of the bank. said the closing was voluntary that there was nothing fundamental-


Article from Evansville Press, August 19, 1930

Click image to open full size in new tab

Article Text

lights instead of before movie camera. Frances had Just completed the third grade in school when the United States entered the World war and her father enlisted in the army. He was sent to Cincinnati and took his family with him. After the war transferred to Washington. and Frances and her mother went along. HE came back to Chicago and entered school. In little while there were high school plays in which she excelled. She wanted to play the lead in the senior class play so badly she wasn't surprised when she got In her academic classes Frances was just an average student- excelling nor failing in any of her studies. But dramatics she easily was a shining light. And she was a leading figure in all of her class activities. climaxing her activities by being elected vicepresident of the class during her senior year. That was one of her ambitions thruout her school life, since is the highest position girl can holdthe president always is boy. After graduating from Hyde Park High school in Chicago, she entered the University of Chicago. She still carried the belief any girl can do what she sets out decided that life was lots of fun and she would enjoy She went in for dramatics and social life. Regular college studies didn't appeal to her. She was member of the Sigma club, one of the four leading women's clubs at the university about which she tells an interesting story. At the middle of her first term in Chicago she was flunking in all subjects and it is university rule that club and fraternity pledges must attain cergrades before they can be initiated Frances wanted to be initiated so she settled down to some real studying and made her grades. OWARDS the end of her second year Frances' parents moved to Los Angeles. She remembered that she had enjoyed visiting there once and went along quite cheerfully. "But I'll be back to graduate," she told her friends. She couldn't give up the university shows. But out in California the Fox company was staging college play and Frances knew all about co-ed life. She dropped into the casting director's office one day NEXT: Miss Dee's life as an extra in Hollywood. FOURTH GARY BANK IS FORC ED TO CLOSE DOORS By United Press GARY, Ind., Aug. The Gary Labor bank was closed by its board of directors today, pending an audit of its books. State Senator J. Nedjl of Whiting. is president of the institution. "run" on the bank yesterday depleted its reserves and caused the closing. The Labor bank was the fourth Gary institution to shut its doors within nine days. GROSS VALUE OF MAYER ESTATE IS REPORTED The late Marks L. Mayer left gross estate of $7009. according to report on file Tuesday in probate court. Estates of the late Marie C. Rone and Harry Phillips had net value of $2015 and $2649. respectively.


Article from The Edwardsville Intelligencer, August 20, 1930

Click image to open full size in new tab

Article Text

GARY LABOR BANK is CLOSED BE DIRI CTORS Labor bank was closed by its directois today pending an audit of Its books State Senator J J Nedji. of Whiting, 14 president of the instution A "run" on the bank vesterdav depleted its reserves and caused the closing The Labor Bank was the fourth Cary Institution to shut Its doots within nine days D. D Melin, cashier of the bank. said the closing was voluntary and that there was nothing fundamentally wrong with the Institution Melin announced the bank had asked Thomas D. Barr. deputy state bank commissioner, to make an audit. Until the audit has been made, he said, no action will be taken toward reopening tue Institution.


Article from Garrett Clipper, August 21, 1930

Click image to open full size in new tab

Article Text

RUN FORCES ANOTHER BANK AT GARY TO CLOSE Gary, Aug. Gary Labor bank was closed by its board of directors today. pending an audit of its books. State Senator Nedjl of Whiting. president of the institution. A "run" on the bank yesterday depleted its reserves and caused the closing. The Labor bank was the fourth Gary institution to shut its doors nine days. D. Melin, cashier of the bank, the closing was and that there was nothing fundamentally wrong with the Melin announced the bank had asked Thomas D. Barr, deputy state bank commissioner, to make an dit. Until the audit has been made, he said, no action will be taken toward re-opening the institution. The body of John Graves. farmer of near Bluffton. Ind., found in the yard of his home Sunday night. Death was due to heart disease.