gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
356bc0f438a0b306
Response Measures
None
Description
The bank survived a rumor-driven run in July 1913 but subsequently closed in June 1914 due to collateral issues and the broader local banking distress involving the Lorimer-Munday failures.
Events (2)
1.July 22, 1913Run
Cause
Rumor Or Misinformation
Cause Details
Idle rumors and neighborhood gossip about the bank's condition.
Measures
The bank received $200,000 in cash from Fort Dearborn National Bank and other institutions made heavy deposits to offset withdrawals.
Newspaper Excerpt
The run on the Kenwood Trust and Savings Bank, which began two days ago as the result of idle rumors, was halted today.
Source
newspapers
2.June 22, 1914Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure to realize on collateral held as security for loans, occurring amidst the Lorimer-Munday bank failures.
Newspaper Excerpt
The Kenwood Trust and Savings bank... closed its doors today. Failure to realize on certain collateral held as security for loans was given as the cause of the suspension.
Source
newspapers
Newspaper Articles (12)
1.July 23, 1913The Day BookChicago, IL
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Article Text
CHICAGO BRIEFS Run continued on Kenwood Trust & Savings Bank, 47th street and Grand blvd., but other banks and corporations deposited as much as was drawn out. Run believed to have been started by neighborhood gossip. George Prusener, 14, 3719 Eberly av., who was driving his father's auto when it"ran down and killed Mildred Gloy, 16, exonerated by coroner's jury. Coroner Hoffman sent recommendation to Chief of Police McWeeny that ordinance forbidding minors to operate cars be more strictly enforced.
2.July 24, 1913Newark Evening Star and Newark AdvertiserNewark, NJ
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Article Text
BANK RUN HALTED CHICAGO, July 24.-The run on the Kenwood Trust and Savings Bank, which began two days ago as the result of idle rumors, was halted today. When the doors opened there were twenty depositors in line and after these had been paid President A. K. Brown announced that the run on the institution was at an end. Later in the day scores of persons who had withdrawn their savings returned to open new accounts.
3.July 24, 1913Norwich BulletinNorwich, CT
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Article Text
Rumors, started apparently from nothing, caused a run yesterday on the Kenwood Trust and Savings Bank, a small state institution at Chicago. During the day the bank paid out about $100,000.
4.July 24, 1913The Calumet NewsCalumet, MI
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Article Text
RUN ON BANK IS HALTED. Chicago, July 24.-The run on the Kenwood Trust Savings bank, begun two days ago as the result of an idle rumor, was halted today. Scores of persons who had withdrawn their savings returned today to open new accounts.
5.July 24, 1913Pine Bluff Daily GraphicPine Bluff, AR
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Article Text
BANK, ON WHICH RUMOR STARTED RUN, PAYS ALL Chicago, July 23.-Just before the Kenwood Trust and Savings Bank on which a run was started yesterday because of vague rumors, opened for business today, an automobile from the Fort Dearborn National Bank drew up before the doors and $200,000 was carried into the institution to meet the demands of depositors. The doors opened at 9 o'clock, but before anyone was admitted A. K. Brown, president of the institution, made the following announcement to the waiting crowd: "We are going to open the bank now and pay everyone dollar for doi-
6.July 24, 1913The Daily Gate CityKeokuk, IA
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Article Text
Bank Run Halted. [United Press Leased Wire Service] CHICAGO, July 24.-The two days run on the Kenwood Trust and Savings Bank halted shortly after the opening today. Fifty depositors withdrew small sums and bank officials declared that many of those who withdrew deposits on Tuesday and Wednesday had returned theor money.
7.July 24, 1913The Topeka State JournalTopeka, KS
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Article Text
Chicago Bank Run Stops. Chicago, July 24.-The run on the Kenwood Trust and Savings bank, which began two days ago, was haited today. When the doors of the bank opened there were 20 depositors in line and after these had been paid President A. K. Brown announced the run on the institution was at an end. Later in the day scores of persons who had withdrawn their savings returned to open new accounts.
8.July 24, 1913Rock Island ArgusRock Island, IL
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Article Text
Bank Run Halted. Chicago, July 24.-The run on the Kenwood Trust & Savings bank, besun two days ago as a result of the idle rumor, was halted today. Scores of persons who had withdrawn their savings returned today to open new accounts.
9.July 25, 1913Devils Lake Weekly WorldDevils Lake, ND
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Article Text
CHICACO BANK RUN STARTED Chicago, July 23.-A large crowd gathered before the opening hour before the Kenwood Trust & Savings bank, on which a run was started yesterday, following vague rumors concerning the bank's condition. The bank yesterday paid depositors about $100,000. Before opening today, however, Pres. A. K. Wood announced he would pay every one dollar for dollar. Several hundred depositors were paid this moning and the excitement in the vicinity of the bank subsded.
10.July 31, 1913The EnterpriseMalta, Harlem, MT
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Article Text
Run on Bank is Unexplained. Chicago, July 25.-Offers of support from other institutions with expres. sions of confidence and heavy deposits by large business concerns neutralized the affect of the unex plained run on the Kenwood Trust and Savings bank. Depositors were in line all day and withdrew $104,000 while $105,000 was deposited. State Bank Examiner C. G. Rutledge issued a statement that the bank was in perfect condition with a large reserve and plenty of "Quick" assets. No explanation of the cause for the run is forthcoming.
11.June 22, 1914The Day BookChicago, IL
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Article Text
THE BANK MESS State's Attorney Hoyne begins examination of Lorimer bank depositors. Receiver Niblack is hopeful of paying "dollar for dollar." Friend of Tribune's told story of Lorimer loaning big money to several political allies. Bank Examiner Harkin is in charge of outlying Lorimer-Munday banks. City Comptroller Traeger to begin court action to recover $705,000 city money. Ass't State's Attorneys Case and Bliss may call directors of bank. Kenwood Trust & Savings Bank closed doors following depositors' meeting. TRILBY THOMPSON CAUGHT Trilby Thompson, Chicago bandit, who escaped from Joliet over a year ago, has been caught in Minneapolis, according to a telegram received by Chief of Detectives Halpin today. Thompson was one of the most sought men in the state. After his sensational escape from the penitentiary with "Sonny" Dunne, who died
12.June 22, 1914The Chickasha Daily ExpressChickasha, OK
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Article Text
PRIVATE BANK IN CHICAGO CLOSES By United Press Chicago, June 22.-The Kenwood Trust and Savings bank, a small private institution that was not connected with the Lorimer banks, closed its doors today. Failure to realize on certain collateral held as security for loans was given as the cause of the suspension. A dozen depositors of the Lorimer banks were questioned today by the state's attorneys, Bliss and Case, preparatory to the grand jury inquiry into the recent failures.
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.
