Illinois State Bank (Evanston, IL)

Episode Information

Episode UID
70211371578
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7021137 routing
Routing Number
70-2113
Start Date
June 12, 1931
Location
Evanston, Illinois (42.041, -87.690)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d4ea2df018e5aba6

Response Measures

None

Events (1)
1. June 12, 1931 Suspension
Cause
Government Action
Cause Details
Closed by the state auditor's office because of depleted reserves.
Newspaper Excerpt
The Illinois State Bank of Evanston was closed today by the state auditor's office due to depleted reserves.
Source
newspapers

Newspaper Articles (10)
1. June 12, 1931 Muncie Evening Press Muncie, IN
Article from Muncie Evening Press, June 12, 1931

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Article Text

CHICAGO BANK SYSTEM SOUND Continued From Page One. of Chicago's population brought about the panic. Chicago has a high percentage of foreign-born residents, they declared, and many of them do not understand the American banking system. Most of them are thrifty and many of them of nervous temperament, they added. These characteristics, one banker said, were responsible for the heavy withdrawals and the crowds which milled about the smaller neighborhood banks making withdrawls. Traylor's part in bringing order out of the financial unrest included directing the merger of the First National and its affiliate, the First Union Trust and Savings, with the Foreman State National and its affiliate, the Foreman State Trust and Savings with assets of almost a billion dollars. He also was one of the leaders in a movement through which the great downtown banks, with total resources of more than $2,500,000,000, went to the aid of outlying banks. In one instance, he guaranteed dollar for dollar the funds of depositors who had started a run on a $17,000,000 bank., EVANSTON BANK CLOSED. CHICAGO, June 12. -The Illinois State Bank of Evanston was closed today by the state auditor's office due to depleted reserves. It was the bank suspension of the week in the Chicago area and the second in the suburbs. The institution capitalization was $100,000 and its deposits at the time of its last statement amounted to $650,000, making it one of the smallest banks to be affected.

2. June 12, 1931 Wisconsin State Journal Madison, WI
Article from Wisconsin State Journal, June 12, 1931

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Article Text

Small Evanston Bank is Closed Illinois State Bank Evanston was closed today by audioffice due to the 28th bank of the week in the Chicago and the second the The institutions and its deposits the time of its making the smallest banks affected

3. June 12, 1931 Waukegan News-Sun Waukegan, IL
Article from Waukegan News-Sun, June 12, 1931

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WILL BE OPENED Claims Mergers Have StrengBigger Banks And thened Lend Aid To Smaller These CHICAGO, this banking closings and three merby 27 condition, Melvin gers-is in good Traylor, president of the First Naand one of the nation's tional Bank the United leading financiers, Press today. confidence being "Public Traylor "Financial to restore the terests are working small which closed. closed banks were small ones. They were relatively unimportant the city's entire banking picture, although their closing must, of course, greatly regretted. Besides being of the powerful and tireless workers in Chicago's banking crisis, Traylor has come be known to thousands of depositors as helpful, sympathetic and understanding. hurried away from his many duties to help quiet depositors were starting bank. Standing on chair the lobby, the banker the cited patrons that the bank had plenty deposits The crowds thinned out and the bank open until bearing out Traylor's statement that depositor wished could have his money. The bank still open. Traylor gave his views of the uation from the same palatial the towering First National building from he aided in recting the quieting the bank unrest in the four days. Traylor tall, kindlyfaced man who rose from boyhood farm to his position as head of billon dollar institution. Banks Are Stronger "The recent mergers have helped greatly the entire banking situation, Tralyor "Even the closing the smaller banks was an some extent. The banks closed were the weaker of the city's institutions and their removal from leaves entire structure in stronger position. have ceased making wholesale and safely say today that the trouble mainly past. Many patrons are returning their money the from which they withdrew days Mob hysteria responsible for the situation which caused the banks to close, Traylor said. Other banking leaders that the nature Chicago's population brought about the Chicago has high percentage foreign residents, they declared, and many them do not the American banking Most them thrifty and many them of nervous temperament, they added. These characteristics. one banker said, were responsible for the heavy withdrawals and the crowds which milled about the smaller neighborhood banks making Traylor's part bringing order out of the financial unrest included directing the merger of the First National and its affiliate. the First Union Trust and Savings, with the former State and National its affillate, the Foreman State Trust assets of almost billion dollars. He also was one of the leaders in through which the great downtown banks with total resources of more than went the aid of outlying banks. one instance, guaranteed dollar dollar the funds of depositors had started run $17,000.000 banker. CHICAGO, June inois State Bank of Evanston was closed today by the state auditor's office depleted reserves. was the 28th bank of the week the Chicago area and the second the suburbs. The capitalization was and its deposits at the time last $650,000. making one of the smallest banks to be affected.

4. June 12, 1931 The McCook Daily Gazette McCook, NE
Article from The McCook Daily Gazette, June 12, 1931

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Article Text

FLASHES NIAGARA FALLS, N. Y., June 12 -(U.P.)_ Mrs. Ella A. Bolle, president of the W C. T. U., today denied a report that the W T. U. would sponsor a third party in the 1932 presidential election if neither of the major parties nominated a "dry" BEATRICE, NEB., June 12P)-Aviation enthusiasts here were ready for new thrills today Members of the local glider club have engaged a glider and a special trainer to give them instruction in the art of navigating the motorless ship. LAREDO, TEXAS, June 12 (U.P.)_ funeral train of Emilio Cortes Rubio and Manual Garcia Gomez, members of prominent Mexican families, proceeded toward Mexico City today. Although thousands of Mexicans gathered at railway stations to pay tribute to the boys slain by peace officers at Ardmore, Okla., there were no adverse demonstrations. CAMDEN. N. J., June 12-(U.P.) One woman is dead, another is dying and 24 others are suffering severe injuries as the result of a collision between motor bus and a sedan on the White Horse Pike near Hammonton, N. J., last night. One of the passengers hurt was the Rev. C. N. Graham, of Lincoln, Neb. His injuries were not serious. CHICAGO, June 12 (U.P) The Illinois State Bank of Evanston was closed today by the state auditor's office due to depleted reserves. It was the 28th bank suspension of the week in the Chicago area. WASHINGTON. June 12 President Hoover decided today there are many sparkling trout which ought to be caught in the Rapidan before the fishing closes Monday. So orders were given at the White House to prepare for a swift trip to camp late in the day It will be his first day of real fishing since April Each recently he has conducted economy conferences at the camp with various departmental officials. LIMA, PERU. June state of siege was in force throughout Peru today and heavy military patrols guarded the capital in an effort to maintain order and suppress a feared revolt. The provisional government took drastic action when rumors of a plot against the region of Pres. David Samanez Ocampo reached the chief executive. The arrest of 55 persons was ordered. PARIS, June The visiting American mayors, nearing the close of their tour of France as guests of the government, planned to visit the historic palaces at Versailles and St. Germain, outside Paris, today. The mayors were guests at the newly opened Enchien gambling casino last night, but they did not play. Small contingents of government troops continued their offensive today against Communist bandits near Yenhing, where hundreds of natives falling into their clutches have been slaughtered.

5. June 12, 1931 Decatur Evening Herald Decatur, IL
Article from Decatur Evening Herald, June 12, 1931

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Article Text

Another Failure (By United Press CHICAGO, June 12-The IIIInois State bank of Evanston was closed Friday by the state auditor's office due to depleted reserves. It was the 28th bank suspension of the week in the Chicago area and the second in the suburb. to some extent. The banks closed were the weaker of the city's Institutions and their removal from the field leaves the entire structure in stronger position. Trouble Past "Depositors have ceased making wholesale withdrawals and we can safely say that the trouble mainly is past. Many patrons are returning their money to the banks from which they withdrew it in panic a few days ago." Mob hysteria was responsible for the situation which caused the 27 banks to close, Taylor said. Other banking leaders said that the nature of Chicago's population brought about the panic. Chicago has high percentage of foreign born residents, they de. clared, and many of them do not understand the American banking system. Most of them are thrifty and many of them of nervous temperament, they added. Foreigners Blamed These characteristics, one banker said, were responsible for the heavy withdrawals and the crowds which milled about the smaller neighborhood banks making withdrawals. Traylor's part in bringing order out of the financial unrest Included directing the merger of the First National and Its affiliate, the First Union Trust and Savings, with the Formen State national and its affillate, the Foreman State Trust and Savings with assets of almost $1,000,000. He also was one of the leaders in a movement through which the great downtown banks, with total resources of more than $2,500,000.000, went to the aid of outlying banks. In one instance he guaranteed dollar for dollar the funds of depositors who had started a run on a $17,000,000 banker

6. June 12, 1931 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, June 12, 1931

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Article Text

BANK IS CLOSED Illinois State Bank There Is 28th to Shut Doors in Week. CHICAGO. (UP). The Illinois State bank of Evanston closed the state auditor's office due to by depleted reserves. It was bank suspension institution capitalization the week in the Chicago area. The $100,000 and its deposits time last statement amounted to $650,000.

7. June 12, 1931 The Cincinnati Post Cincinnati, OH
Article from The Cincinnati Post, June 12, 1931

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28TH BANK IS CLOSED Depleted Reserves Blamed in Collapse Suburban Chicago Bank By United Press. CHICAGO, June Illinois State Bank, Evanston, closed today the state auditor due to depleted the 28th bank suspension of the week in the Chicago area. COUPLE CONFESS SWINDLE Joseph Stewart, 34, and his wife, Martha, 30, of 257 Springdale-rd, Woodlawn, O., arraigned before Judge Stanley Struble in Criminal Court Friday, were released on probation for two years their of guilty to obtaining goods stores charge account

8. June 12, 1931 York News-Times York, NE
Article from York News-Times, June 12, 1931

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BANK CLOSED Illinois State bank of Evanston was closed today by the state auditor's office due to depleted reserves It was the 28th bank suspension of the week in the Chicago area. The institution capitalization was $100,000 and Its deposits at the time of its last statement amouned to $650,000 own

9. June 13, 1931 Daily News New York, NY
Article from Daily News, June 13, 1931

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ONE MORE BANK SHUT NEAR CHICAGO Chicago, June 12 (U.P.).-The Illinois State Bank of Evanston was closed today by the State Auditor's office, due to depleted reserves. It was the twenty-eighth bank suspension of the week in the Chicago area and the second in the suburbs. Capitalization was $100,000 and deposits $650,000.

10. June 13, 1931 Daily News New York, NY
Article from Daily News, June 13, 1931

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Article Text

ONE MORE BANK SHUT NEAR CHICAGO Chicago, June 12 (U.P.).-The Illinois State Bank of Evanston was closed today by the State Auditor's office, due to depleted reserves. It was the twenty-eighth bank suspension of the week in the Chicago area and the second in the suburbs. Capitalization was $100,000 and deposits $650,000.