gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5e42377ad4b98741
Response Measures
None
Events (1)
1.June 25, 1932Run
Cause
Local Banks
Cause Details
Fear engendered by recent closings of other Chicago banks and reports of demonstrations against banks prompted heavy withdrawals.
Measures
Traylor appeared on the banking floor and publicly appealed for confidence; bank stated it could pay any depositor wishing to withdraw.
Newspaper Excerpt
Melvin A. Traylor ... stemmed an incipient run on his $10,000,000 First Union Trust and Savings bank today by appearing on the banking floors and pleading for faith.
Source
newspapers
Newspaper Articles (10)
1.June 26, 1932The Plain DealerCleveland, OH
Article Text
Traylor Addresses Depositors; Balks Run on Two Banks
CHICAGO June Melvin
Traylor, considered by many presidential itemmed an on his First First Union Trust Sav ngs and pleading for faith. who is president of both the three largest the for demonstration against the had been laid and the had taken steps to put more liquid than Both crowded large number of intended withdraw ing fear ered by recent closings Four ings today one brought to the here this bank will during the usual and will open on Monday morning Traylor told will be willing and off any depositor who to alleged plot. Traysaid This promoted by those are not your friends friends Fortunately are the best posiin our history Please tell your neighbors will open Mon day morning and every morning at The thinned after had spoken and an bank attaches had been restored The Loop bank close was the Bank of Commerce with had absorbed the Bank of last September assets are understood deposits
2.June 26, 1932The Flint JournalFlint, MI
Article Text
TRAYLOR CHECKS RUN ON HIS BANK
Candidate for Presidency Pleads for Confidence in Personal Appearance.
Chicago, June 25.—(By AP)—Melvin A. Traylor, considered by many Democratic presidential timber, stemmed an incipient run on his $25,000,000 First National bank and $10,000,000 First Union Trust and Savings bank today by appearing on the banking floors and pleading for faith.
Traylor, who is president of both banks, declared a well-planned plot for a demonstration against the banks had been laid by "enemies" and said the banks had taken steps to put themselves in a more liquid condition than ever before.
Four closings today, one in the loop, brought to 30 the number of banks here that have shut down this month.
"The bank will be open during the usual business hours and will be open on Monday morning," Traylor told patrons. "It will be willing and able to pay off any depositor who wishes to withdraw his funds."
The crowds quickly thinned after he had spoken and within an hour, bank attaches said, normalcy had been restored.
3.June 26, 1932News-PressFort Myers, FL
Article Text
Traylor Halts Run On Bank By Appeal vin A. Traylor, considered by many as democratic presidential timber, stemmed an incipient run on his $25,000,000 First National bank and $10,000,000 First Union Trust & Savings bank today by appearing on the banking floors and pleading for faith. Traylor, who is president of both banks among the three largest in the city-declared a well-planned plot for a demonstration against the banks had been laid by "enemies" and said the banks had taken steps to put themselves in a more liquid condition than ever before. Both banking floors were crowded with customers, a large number of whom apparently intended withdrawing accounts because of fear engendered by recent closings. Four closings today, one in the Loop, brought to 39 the number of banks here that have shut down this month.
The bureau of census has announced that 1,201 of the 6,055 retail outlets for oil and gasoline in Kentucky are filling stations.
Troops from Fort Riley, Kas., were called out to capture 68 hogs spilled from the trailer of a truck.
4.June 26, 1932The Index-JournalGreenwood, SC
Article Text
Melvin A. Traylor Stops Run On Bank By Timely Appeal
CHICAGO, June A. Taylor, considered by many Democratic presidential timber. stemmed an incipient run on his $25,First National Bank and $10,000,000 First Union Trust and Savings Bank today by appearing the banking floors and pleading faith.
5.June 26, 1932Corpus Christi Caller-TimesCorpus Christi, TX
Article Text
Run on Chicago Bank Stemmed as Melvin Traylor Pleads for Faith
Chicago, June 25.-(P)-Melvin A. Traylor, considered by many as Democratic presidential timber, stemmed an incipient run on his $25,000,000 First National bank and $10,000,000 First Union Trust and Savings bank today by appearing on the banking floors and pleading for faith. Traylor, who is president of both banks-among the three largest in the city-declared well-planned plot for demonstration against the banks had been laid by "enemies" and said the banks had taken steps to put themselves in a liquid condition than ever before. Both banking floors were crowd. ed with customers, large number of whom apparently intended withdrawing accounts because of fear engendered by recent closings. Four closings today. one in the loop. brought to 39 of banks here that have shut down this month.
Referring alleged Traylor "This promoted by not your friends or our friends. tion in our history. Please tell neighbors that we will be open Monday morning and every morning at The crowds quickly thinned after he had spoken and within an hour. bank attaches said, normaley been The loop bank to close was the Chicago Bank of Commerce with $5,200,000 It had absorbed the Union Bank of Chicago last September. Its sets are understood to cover deThree other banks in outlying sections closed, two of them in North Shore suburbs-the First National Bank of Wilmette and the Northbrook State bank. The fourth was the South Ashland National These three together had about deposits.
6.June 26, 1932The Buffalo TimesBuffalo, NY
Article Text
APPEAL BY TRAYLOR CURBS RUN ON BANK
Head of Two Institutions Address Patrons
CHICAGO, June 25 (A.P.)—Melvin A. Traylor, considered by many as Democratic presidential timber, stemmed an incipient run on his $25,000,000 First National bank and $10,000,000 First Union Trust & Savings bank today by appearing on the banking floors and pleading for faith.
Traylor, who is president of both banks—among the three largest in the city—said a plot for a demonstration against the banks had been laid by "enemies."
7.June 26, 1932The Buffalo TimesBuffalo, NY
Article Text
CHICAGO, June 25 (A.P.)—Melvin A. Traylor, considered by many as Democratic presidential timber, stemmed an incipient run on his $25,000,000 First National bank and $10,000,000 First Union Trust & Savings bank today by appearing on the banking floors and pleading for faith.
Traylor, who is president of both banks—among the three largest in the city—said a plot for a demonstration against the banks had been laid by "enemies."
Both banking floors were crowded with customers, many of them apparently intending to withdraw accounts because of fear engendered by recent closings.
"The bank will be willing and able to pay off any depositor who wishes to withdraw his funds," Taylor said.
The crowds quickly thinned after he had spoken and within an hour, normalcy had been restored.
CHICAGO, June 25 (U.P.) — The rush of Chicagoans to withdraw deposits from banks, 22 of which have closed in four days, slowed down tonight and there was an appreciable return to confidence.
8.June 26, 1932The Roanoke TimesRoanoke, VA
Article Text
RUN ON CHICAGO BANK
Melvin A. Traylor Appears on Banking Floors to Plead for Faith
June 25 A Chicago, Traylor, considered by many Democratic presidential stemmed an incipient run on his First National Bank and $10,000.000 First Union Trust and Savings Bank today by appearing on the banking floors and pleading for faith. Traylor, is president of both banks- among the three largest in the city-declared well-planned plot for demonstration against the banks had been laid "enemies" and said the banks had taken steps to put themselves in more liquid condition than ever before Both banking floors were crowded with customers. large number of whom apparently intended withdrawing of fear engenby closings. Four closings today, one in the Loop. brought to 39 the number of banks here that have shut down this month bank will be open during the usual hours and open on Monday morning Traylor told patrons. will be willing and able to pay off any depositor who wishes to withdraw his funds Referring to the alleged plot, Traylor
This was promoted by those who are not your friends or friends. Fortunately, the best posttion in our history Please tell your neighbors that we will be open Monday morning and every morning at The crowds quickly thinned after he had spoken an bank attaches said, normalcy had been restored.
9.June 26, 1932Lewistown Daily NewsLewistown, MT
Article Text
Trayler Halts Run On Chicago Bank vin A. Traylor. considered by many democratic presidential timber, stemmed an incipient run on his $25,000,000 First National bank and $10,000,000 First Union Trust and Savings bank today by appearing 6n the banking floors and pleading for faith. Traylor. who is president of both banks among the three largest in the city-declared a well-planned plot for a demonstration against the banks had been laid by "enemies" and said the banks had taken steps to put themselves in more liquid condition than ever be. fore. Both banking floors were crowded with customers. A large number of whom apparently intended withdrawing accounts because of fear engendered by recent closings Four closings today, one in the Loop, brought to 39 the number of banks here that have shut down this month. "The bank will be open during the usual business hours and will be open on Monday morning," Traylor told patrons. "It will be willing and able to pay off any depositors who wishes to withdraw. his funds.' The crowds quickly thinned aft. er he had spoken and within an hour. bank attaches said, normal conditions had been restored.
10.July 1, 1932The Producers NewsPlentywood, MT
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Article Text
Run on Chicago Banks The closing of the First National Bank and the First Union Trust and Savings Bank of Chicago on June 26 thru a run was averted by a speech of Melvin Traylor, president of both banks, in which he told depositors to "have faith." Four banks which closed on June 26 brought the total of Chicago banks which closed thus far this month to 39. These are among the largest banks in Chicago. Traylor's speech averted for a while the crash which is going to strike severely in the near future.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
