Bowmanville National Bank (Chicago, IL)

View Charter #10237 on SPMC View balance sheet

Episode Information

Episode UID
1023701590
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
102370 national
Charter Number
10237
Start Date
June 1, 1932*
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
be8824d44d7eb570

Response Measures

No run

Receivership Details

Depositor recovery rate
40.0%
Date receivership started
1932-06-21
Share of assets assessed as good
12.6%
Share of assets assessed as doubtful
78.7%
Share of assets assessed as worthless
8.7%

Description

Known receivership date 1932-06-21; July 1932 articles describe June runs in Chicago blamed on organized whispering campaigns.

Events (5)
1. August 3, 1912 Chartered
Source
historical_nic
2. June 1, 1932* Run
Cause
Rumor Or Misinformation
Cause Details
Organized whispering campaign and communist-backed propaganda blamed for runs on Chicago banks in June 1932
Newspaper Excerpt
the runs which threatened every bank in Chicago last month
Source
newspapers
3. June 21, 1932 Receivership
Source
historical_nic
4. June 21, 1932 Receivership
Newspaper Excerpt
Frank J. Cimral, receiver, said yesterday. A 10 per cent was paid in October, 1933.
Source
newspapers
5. December 20, 1934 Other
Newspaper Excerpt
Bowmanville National bank ... is paying 15 per cent to depositors, Frank J. Cimral, receiver, said yesterday.
Source
newspapers

Newspaper Articles (6)
1. July 28, 1932 The Great Falls Leader Great Falls, MT

Article Text

FOSTER DENIES REDS BACKING BANK ATTACK CHICAGO, July 28.-(P)-Authors of communistic propaganda found in a Pontiac, Mich., hotel were sought today by the secret service and detectives everywhere as the directors of a nationwide campaign against the confidence of bank depositors. Chicago bankers, government officials and Michigan police unhesttatingly blamed the communist party for systematized attack on the Integrity of financial institutions in many large cities, particularly the runs which threatened every bank in Chicago last month. It was said by C. L. Smith, prosecuting attorney at Pontiac, to have been backed by sovlet Russia. William Z. Foster. communist candidate for president, denied his organization had sponsored whispering campaign against the First National bank of Pontiac. or that man known as George Rowland. in whose room seditious letters found. was member of the party. Illinois' drastic sedition law. providing 20 years' imprisonment and directed against "anyone who advocates reformation of the government by violence or any other unlawful means," was eyed as the handlest weapon should any radicals be caught (Continued on Page Two)

2. July 28, 1932 The Merrill Daily Herald Merrill, WI

Article Text

BLAMED CAMPAIGN Melvin Head, Believes Plot found were sought today by the everywhere directors against the confidence Chicago officials Michigan police blamed the Communist party for attack the integrity financial institutions in many large cities, particularly the runs which every bank Chicago last month It said by prosecuting attorney Pontiac, have been backed by Soviet Russia William Foster. Communist candidate for president, denied organization had sponsored whisagainst the First pering campaign National bank Pontiac, that man known George ist whose room seditious was member of the party. 'Rowland,' believed today to be really George E. once candidate for president Queens Borough New York City and with record for criminal Michigan since last in August. Illinois' drastic sedition law. 20 years imprisonment and directed against "anyone who advocates the violence or any other ernment by unlawful means, was eyed as the should any radihandiest weapon caught and connected be the Pontiac more than the caused ing two in citadels soundest store upwards of order to meet cash on hand in mands of longer The situation definitely acute, appeared the Pontiac let references from Chicago, advising sent "much that there and progress on jugs in president of Melvin National bank and the First American Bankers head of the association, er blamed the 'radicals, "plot to be he believed the he said that he had and cities that ports from many used in frightenilar system was teledepositors by anonymous ing messages. bankers told how Other Chicago 300 400 bank radicals opened withdrew them accounts and en spreading news simultaneously, the

3. July 28, 1932 St. Joseph News-Press St. Joseph, MO

Article Text

BANK PLOTTERS SOUGHT. Widespread Search Made for Men Traced to Pontiac, Mich. CHICAGO. July of Communistic propaganda found in Pontiac, Mich., hotel were sought today by the secret service and everywhere as the directors of against the confidence of bank depositors. Chicago bankers, government officials and Michigan police unhesitatingly blamed the Communist party for systematized attack on the integrity of financial institutions in many large cities, particularly the runs which every bank in Chicago last month. It was said by prosecuting attorney at Pontac, to have been backed by soviet William Z. Foster, Communist candidate for president, denied his organization had sponsored pering against the First National Bank of Pontiac, or that man known as George Rowland, in whose room seditious letters were found, was a. member of the party.

4. July 28, 1932 Los Angeles Evening Citizen News Hollywood, CA

Article Text

NET SPREAD RED BANK PLOT CHICAGO July 28 Authors of Communistic propaganda found sought today by the secret service and detactives everywhere as directors nationwide campaign against the confidence of bank depositors. Chicago bankers government of ficials and Michigan police unhesitatingly blamed the Communist party for systematized attack on the integrity of financial institutions many large cities. particularly the runs which threatened every bank in Chicago last month. It was said by C. L. Smith, pros ecuting attorney at Pontiac to have been backed by Soviet Rus William Z. Foster Communist candidate for President, denied that his organization had sponsored whispering campaign against the First National Bank of Pontiac, or that man known as George Row ters were found. was member of the party Illinois' drastic sedition law provides 20 years imprisonment for "anyone who advocates reformation of the government by violence or any other unlawful means." Chicago's June bank rons closed more than 40 institutions and caused the city's soundest financial citadels to store upwards of $100.000,000 in cash on hand in order to meet demands of depositors. The situation here. no longer acute, appeared definitely linked with references in the Pontiac let ters sent from Chicago, advising 'Rowland' that there was "much progress here" and runs on jugs in loop."

5. December 20, 1934 Chicago Tribune Chicago, IL

Article Text

Bowmanville National Bank Pays 15% of Deposits The Bowmanville National bank, 4806 North Western avenue, is paying 15 per cent to depositors, Frank J. Cimral, receiver, said yesterday. A 10 per cent was paid in October, 1933.

6. December 20, 1934 Chicago Tribune Chicago, IL

Article Text

Bank Pays 15% of Deposits The Bowmanville National bank, 4806 North Western avenue, is paying 15 per cent to depositors, Frank J. Cimral, receiver, said yesterday. A 10 per cent was paid in October, 1933.