Home Savings & State Bank (Peoria, IL)

Episode Information

Episode UID
70000371277
Episode Type
Run Only
Bank Type
state
Bank ID
7000037 routing
Routing Number
70-0003
Start Date
May 5, 1906
Location
Peoria, Illinois (40.694, -89.589)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4b4f40ef653afd6f

Response Measures

None

Events (1)
1. May 5, 1906 Run
Cause
Rumor Or Misinformation
Cause Details
Rumors linked the bank with the German Fire Insurance Company (losses from San Francisco fire) and with the failed Teis Smith & Co. in Plano, prompting withdrawals.
Measures
Bank officers publicly denied connections and solvency; money being sent from Chicago and local banks offered aid to meet withdrawals.
Newspaper Excerpt
Withdrawals of $20,000 from the Home State and Savings bank of Peoria, were made yesterday afternoon in a run caused by rumors ... Vice President Ulrich stated last night that his bank was in no way interested ... and was perfectly solvent.
Source
newspapers

Newspaper Articles (3)
1. May 5, 1906 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, May 5, 1906

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Article Text

RUN ON A PEORIA BANK Home State and Savings Victim of Rumor That is Declared Groundless. Peoria, May 5.-Withdrawals of $20,000 from the Home State and Savings bank of Peoria, were made yesterday afternoon in a run caused by rumors that the bank was connected with the German Fire Insurance company of Peoria, which lost heavily in the San Francisco fire. Vice President Ulrich stated last night that his bank was in no way interested in the insurance company and was perfectly solvent. The bank has deposits of over a million- dollars.

2. May 5, 1906 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, May 5, 1906

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Article Text

RUN ON BANKS AT PEORIA. Money Now on Way From Chicago to Protect Savings Concern. Peoria, Ill., May 5.-Rumors that the Home Savings and State bank of Peoria had lost heavily in recent business transactions caused a run on the institution late yesterday afternoon. The run came late and less than $20,000 was withdrawn. Money is now on the way from Chicago and local banks have promised to help prepare for any trouble which may come today. The run was started by the rumor that ,the bank wasjconnected with the failed Teis Smith & Co. bank in Plano, which closed its doors three weeks ago. Officers of the bank deny any connection with the institution. The capital is $120,000, with $50,000 surplus and deposits of over $1,000,000.

3. May 11, 1906 Dakota Farmers' Leader Canton, SD
Article from Dakota Farmers' Leader, May 11, 1906

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Article Text

RUN ON PEORIA BANK. Rumor of Heavy Loss In San Francisco is the Cause. Peoria, III.: A small run on the Home State and Savings Bank of Peoria, took place Friday afternoon as the result of rumors that the bank was connected with the German Fire Insurance Company, of Peoria, which lost heavily In the San Francisco disaster, Charles Ulrichs, vice president of the bank, stated Friday night that his bank was in no way interested in the German Fire Insurance Company and was perfectly solvent. Preparations have been made to meet the expected run. The bank has deposits of over a million dollars and is known as a conservative Institution.