Grand National Bank (St Louis, MO)

View Charter #12220 on SPMC View balance sheet

Episode Information

Episode UID
1222001565
Episode Type
Run Only
Bank Type
national
Bank ID
122200 national
Charter Number
12220
Start Date
May 31, 1930
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e24c6109852169b4

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, Partial suspension

Receivership Details

Depositor recovery rate
89.0%
Date receivership started
1934-03-19
Share of assets assessed as good
37.6%
Share of assets assessed as doubtful
49.1%
Share of assets assessed as worthless
13.4%

Events (3)
1. June 15, 1922 Chartered
Source
historical_nic
2. May 31, 1930 Run
Cause
Bank Specific Adverse Info
Cause Details
Large safe-deposit vault robbery (looted >$1,000,000) and public disclosure of the loss triggered depositor fear and withdrawals.
Measures
Posted 30- to 60-day notice for savings withdrawals; Federal Reserve and Chase National sent/loaned large cash deliveries to meet demands.
Newspaper Excerpt
Customers started run on the bank today. More than 100 customers in line to withdraw their deposits when the institution opened its doors.
Source
newspapers
3. March 19, 1934 Receivership
Source
historical_nic

Newspaper Articles (13)
1. May 31, 1930 Carthage Evening Press Carthage, MO
Article from Carthage Evening Press, May 31, 1930

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Article Text

LOUIS BANK LOOTING CALLED AN INSIDE Tools Are Found in Basement SUSPECTS HELD Chief of Detectives Declares Some Person in Bank "Knew What Going On" Associated St. Louis, May tools, found in the basement of the Grand National bank, looted of more than one million dollars when safe deposit boxes were robbed Sunday, strengthened Chief of Detectives Kaiser's theory of an "inside job." Three men, including two former officials of the institution, are held under $50,000 bond each, to answer any charge that may be placed against them. search of the unused and unlighted basement rooms of the bank last night disclosed police 12 percussion caps of the type used in setting the explosive which blasted the vault door, quantity of soap, lamp, punch, pound hammer and pinch bar. "Apparently this is an inside job," Chief of Detectives Kaiser declared, "and you can quote me to that effect.' Somebody with inside knowledge of the vaults or bank knew what was ing The inside door of the vault was unlocked, Kaiser said, adding the blasting of the door was merely to "throw dust in the eyes of the police." Start "Run" on Bank Customers started run on the bank today. More than 100 customers in line to withdraw their deposits when the institution opened its doors. An hour later the line extended for nearly block and uniformed policemen guarded the door, admitting them few The Federal Reserve bank sent $250,000 to the institution two days ago, in anticipation of withdrawals. Declares Bank Solvent Officers of the bank posted bulletins today requiring 30 to 60 days' notice for withdrawal of savings accounts. Vice President Joseph Ledbetter repeated an announcement made yesterday by President Ed Mays, that the bank was sound and in liquid condition.

2. May 31, 1930 Sun Herald Biloxi, MS
Article from Sun Herald, May 31, 1930

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Article Text

RUN STARTED ON BANK ROBBED LAST SUNDAY St. Louis, May 31. found the Grand National Bank, looted than when safety deposit robbed Sunday, strengthened Chief ser's theory an "inside including former officials institution. held under $50,000 each to answer any charges that may be placed against them. search of unused and unlighted the bank night disclosed police caps, the setting off plosive which blasted the vault door, quantity soap, lamp, punch The inside the vault unlocked, Kaiser Adding blasting the merely throw the eyes the LINE BLOCK LONG Customers started the bank today. More than 100 were line withdraw their when the institution opened doors. hour later the tended nearly block and formed guarded the door, them time. Officers the posted bulletins today thirty sixty days notice for withdrawal savings Vice Joseph Ledbetter repeated terday President Ed Mays that the bank sound and in liquid condition.

3. June 1, 1930 Joplin Globe Joplin, MO
Article from Joplin Globe, June 1, 1930

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Article Text

MONEY TRUCKS BRING NEEDCASH DEPOSITORY LOUIS. St. Louis, May Grand National bank, looted more than in cash, securities and other valuables, taken from safe deposit boxes week ago, weathered today. long line of customers, fearing the institution would fail after closure yesterday that its part of the approximate filed bank all day withthrough drawing deposits. At times, the line extended more than block down street. $450,000 One Truck. Twice trucks with money additional cash from the federal bank. One delivery, the reserve bank announced, consisted $450,lent for the the emergency Chase National bank of New York. Late today, President Ed Mays out statement that the crisis had that demands had passed, met and would continue to be He declared the bank is solmet. and will to operate. Uniformed police guarded the door, ten customers patrolled sidewalk, time, those waiting in line keeping order ordering spectators Anticipating heavy withdrawals, officers had posted bulletins bank thirty and sixty days' notice for withdrawals from savings accounts. Continuing their officials reiterated their robbery "inside plaining they were convinced bank's employ familiar with robbers' plans before the looting, which took place last Sunday morning while the safe deposit vault, being dismantled for Gifford moving, Herbert, cashier, who has resigned, and William Brittin, custodian the vault, was fired yesterunder $50,000 bonds inday, vestigation in the burglary. Missing Lawyer Returns. Jacksonville, May Paul Thompson, prominent Jacksonville attorney who disapfrom Louis four months peared conference with following tong leaders there, returned home here today. weakened physical and apparently suffering from shock.

4. June 1, 1930 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, June 1, 1930

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Article Text

LOOTED BANK COMES THROUGH RUN SAFELY St. Louis Institution Is Solvent, Will Meet Demands, Says President. ST. LOUIS, Mo., May The Grand National looted of more than $1,000,000 cash, securiother valuables taken from deposit boxes week ago, weathered run today. long line fearing the institution would fail yesterday that would filed through the for more than block down the street. Crisis Passed. Late today President Ed Mays declared that passed and that demands had been met and would continue to be met. He said the bank their police officials reiterated their opinion Gifford resigned. and William Brittin, custodian the charged under $50,000 bonds pending investigation.

5. June 1, 1930 The Saginaw News Saginaw, MI
Article from The Saginaw News, June 1, 1930

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Article Text

LOOTED BANK Officials of St. Louis Institution Say Plenty of Money. (By Associated Press.) ST. LOUIS. May Grand National Bank, looted of more than in cash, securities and other valuables taken from safe deposit boxes week ago, weathrun today. long line of customers, fearing the institution would fail after disclosure yesterday that its part the would $400.filed the bank all day At the line extended than block down the street. Twice money trucks arrived with additional cash from the federal reserve bank. One delivery. the bank announced. consisted lent for the mergency the Chase National Bank of New York. Late today President Ed Mays declared that the crisis passed and that all demands had been would continue to be met. He said the bank is solvent.

6. June 1, 1930 The Buffalo Times Buffalo, NY
Article from The Buffalo Times, June 1, 1930

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Article Text

ROBBERY FOLLOWED BY HEAVY BANK RUN Million Dollar Vault Disappearance Yet Unsolved United ST. LOUIS, $1,000,000 robbery of the Grand National bank apparently long planned and executed with the greatest finessee, remained unsolved Saturday after week investigation. A on the institution started Saturday and continued during the evening. Bank officials said the loss to bank proper only $264,000, and capital of $800,000 unimpaired. Detectives they believed the burglary inside This development followed finding of tools eached in storage of the bank, and arrest of Cashier Herbert Custodian William Brittin, for investigation.

7. June 1, 1930 The Tennessean Nashville, TN
Article from The Tennessean, June 1, 1930

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Article Text

RUN ON ROBBED BANK St. Louis, May 31-(P)-The Grand National Bank, looted of more than $1,000.000 in cash, securities and other valuables taken from safe deposit boxes week ago, weathered run today. Late today President Ed Mays declared that the crisis had passed and that demands had been met and would continue to be met. He said the bank was solvent. SCOUTS ENTERTAIN KIWANIS Manchester, Tenn., May 31(Spl)-The Manchester Boy Scout troop entertained the Manchester Kiwanis club with program at the club's regular meeting Tuesday night. Special numbers on the program were given by Scouts Robert Hickerson, Milton Jones, Frank and Clark Willis

8. June 1, 1930 The Owensboro Messenger Owensboro, KY
Article from The Owensboro Messenger, June 1, 1930

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Article Text

Run on St. Louis Bank Fails To Shut Doors St. Louis, May (P.-The Grand National bank, looted of more than securities and other valuables taken from safe deposit boxes week ago, weathered run today. A long of customers, fearing the would fail after disclosure yesterday that its part of would approximate $400,000, filed through the bank all day withdrawing deposits. At times the line extended for more than block down the Twice trucks arrived with additional cash from the Federal Reserve bank. the bank announced, consisted of $450,000 lent for the by the Chase National bank of New York. Late today President Ed Mays declared that the crisis had passed and that all demands had been met and would continue to be met, He said the bank is solvent.

9. June 1, 1930 The Burlington Hawk-Eye Burlington, IA
Article from The Burlington Hawk-Eye, June 1, 1930

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Article Text

Looted St. Louis Bank Withstands Heavy Run St. Louis, Mo., May 31-The Grand National bank, looted of more than $1,000,000 in cash, securities and other valuables taken from safe deposit boxes a week ago. weathered run today. A long line of customers, fearIng the institution would fail after disclosure yesterday what its part of the loss would approximate, filed thru the bank all day withdrawing deposits. At times the line extended for more than a block down the street. Twice money trucks arrived with additional cash from the Federal Re rerve bank. One delivery. the bank announced. consisted of $450,000 lent for the emergency by the Chase Na. tional bank of New York.

10. June 1, 1930 The Morning Press Santa Barbara, CA
Article from The Morning Press, June 1, 1930

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Louis Bank Weathers St. Heavy Run by Depositors ST. LOUIS, May Grand National looted more than $1,000,000 in cash, curities and other valuables taken from safe deposit boxes. week ago, weathered run today. line of customers, fearlong ing the institution would fail after disclosure yesterday that its part would approximate filed through the bank day deposits. Twice trucks arrived with money from the Federal additional cash Reserve bank. One the announced, consisted $450,000 lent for the emergency Chase National Bank of New York. Late today President Ed Mays declared the crisis had passed and that all demands had been met and would continue to met. He the bank is solvent.

11. June 2, 1930 The St. Louis Star and Times St. Louis, MO
Article from The St. Louis Star and Times, June 2, 1930

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CASHIER GETS HIS JOB BACK Bank Watchman Max Seufert Discharged as Herbert and Custodian Brittin Are Reinstated. ELEVATOR SHAFT CLEW IN ROBBERY Mays Tells of Plan to Take Business Into Institution Called 'Continental National.' Five new developments relating to the Grand National Bank robbery today the bank opened for business They plan reorganize the bank evidence of the bank in sound of Cashier GifHerbert resigned, and Custodian William Brittin, who had been of and important Dismissal of Bank Watchman Max Seufert President Ed Mays issued the following statement about the reorganization plans 'Our institution in sound condition and its capital and surplus are unimpaired. We plan to keep that capital and that we draw necessary. should any suits be filed against the Grand tional. Business Normal plan to take the business of the into institution known the Continental National Bank which to with entirely capital surplus. To this propose apply for permission the United States of currency Washington Only few depositors were in the bank this morning. They came to conduct ordinary business. was evident that bank's directors had completely the "run" which started Saturday morning After meeting withdrawals ing $739,000. bank had $750,000 cash on hand at the close of busiSaturday night, The clew the discovery that the bandits might easily have entered the bank basement and moved loot by means elevator shaft leading through the Beers Hotel building, in which the bank Explains Reinstatements Herbert Brittin whose con nections with the bank ended they had rested and placed under bond to that might be placed against them connection with the robbery. were reinstated. Mays said, because the directors the "have the utmost confidence these Mays explained that Brittin and Herbert permitted resign "because wanted to give the police free rein in their invesHerbert and Brittin resumed their former duties today Brittin custodian of deposit department where the robbers gained trance on the morning May 25 and made more than worth securities, cash jewelry from safe deposit the bank and its patrons The throws an new light on the question to the got in and out of the bank been that they entered by the front on Grand with key, although one reported anybody leaving the bank during time the no business On daylight and of the in the city, the burglars got into the bank and and left some time noon. Today reporters the might used vator shaft the basement get into the department door in the wall of the on the elevator shaft. It directly opposite temporary iron door which guarded the deposit vault elevator. an ancient affair, operated by cable, runs tween the ground floor of the bank building. Mays disclosed that the time of the robbery, pended at the ground floor, that anyone could have the shaft, able to walk under the and into by forcing the door which guarded (Continued on Page

12. June 2, 1930 St. Joseph Gazette St. Joseph, MO
Article from St. Joseph Gazette, June 2, 1930

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RUN ON BANK $739,000 At Same Time $250,000 Is Deposited in St. Louis Institution. ST LOUIS June in the Grand National Bank. which lost approximately $400,000 in the looting of its safety deposit vault week withdrew ago, of $739,000 from checking accounts yesterday bank official said He added total of $250,000 deposited The official cash hand the bank closed last and it would be increased before the opening Other officials claimed the "backbone" of the run had been broken and business would soon return to Police activity was suspended over today but Chief of Detectives Kaiser expects to renew the search for the robbers of the vault morrow The bank directors have official action on the telephone received yesterday which said the bonds would be returned the reward is boosted from $25,000 to $100,000

13. June 5, 1930 The Missouri Telegraph Fulton, MO
Article from The Missouri Telegraph, June 5, 1930

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FULTON YOUTHS IN WRONG LINE Wating For an Hour For Show Tickets Boys Find Selves in Gold Rush. Two Falton youths, in Louis Saturday, found themselves in amusement and decided to take theatre They wandered Grand Avenue, expecting attend Theatre lined up with hey supposed were other pleasure seekers, and after an extended about hour, found themselves the midst miniature Klondike Reaching the vicinity of the the boys stepped the line, which they supposed to secure tickets for the The line made little progress and the boys stood and stood making any great about the matter Finally of boys grow impatient Billy McClure turned and remarked. believe they open until The front of them iround rapidly and with his almost gasped have they dawned upon the boys they in the wrong line investigation proved that they line of depositors that on the Grand Nationa which robbed the before of about million