Commercial Bank - St Joseph, MI

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: September 8, 1931
Location: St Joseph, Michigan (42.110, -86.480)

Metadata

Model: gpt-5-mini
Short Digest: c71d1d48

Response Measures

None

Description

Article (1931-09-08) describes a flurry among depositors driven by fear, rumor, gossip that the Commercial Bank would close. The paper reports local leaders asking depositors to stand and describes reorganization and consolidation efforts but gives no indication the bank suspended payments or closed. OCR fragments corrected for readability; no explicit evidence of suspension or receivership.

Events (1)

1. September 8, 1931 Run

Cause: Rumor Or Misinformation
Cause Details: Depositors agitated by fear, rumor and gossip that the bank would close; no specific substantive bank failure information reported.
Measures: Local leaders/management reorganized, consolidated resources, appealed publicly for depositors to stand by the bank and pledged to strengthen resources.
Newspaper Excerpt: flurry among depositors that due fear, rumor, gossip, perhaps Commercial bank were to close
Source: newspapers

Newspaper Articles (1)

1. September 8, 1931 The Herald-Palladium Benton Harbor, MI

Article from The Herald-Palladium, September 8, 1931

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Article Text

touch with the federal authorities have not threatened close close Ever since took over Union bank have worked night and Joseph the best bank in county. have carried terrible load responsibility. have sources, stand the even, into whole story much have done protect depositors. flurry among depositors that due fear, rumor, gossip, perhaps Commercial bank were to close would be worst financially that unless the depositors make close. unless depositors make itclose. We have put together reorganizathat best financial leadership in the twin have taken steps strengthen improve the its resources. If the citizens Joseph and our positors only stand come out with flying colors. single single penny the Commercial remain open the end will be bigger than been. When consolidated CommerUnion, had the biggest Berrien Joseph should be proud fact. can keep that bankstand this keep the asking my citizens this hour. faith that they will be