gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
38310274f3f65b07
Response Measures
None
Description
Bank voluntarily closed and paid depositors in full; owner invited withdrawals.
Events (3)
1.September 28, 1931Other
Newspaper Excerpt
State Auditor Oscar Nelson said this was the first time he had ever heard of a bank voluntarily going out of business and paying 100 cents on the dollar.
Source
newspapers
2.September 28, 1931Run
Cause
Bank Specific Adverse Info
Cause Details
Owner announced bank was not profitable and urged depositors to withdraw before closing.
Measures
Bank invited customers to withdraw and pay deposits in full (100 cents on dollar).
Newspaper Excerpt
B. McGrath, Jr., started a run in his own bank today ... he wrote all of the customers ... that the bank wasn't making profits and that he had decided to close it. He added that all depositors had better come and get their money
Source
newspapers
3.September 30, 1931Suspension
Cause
Voluntary Liquidation
Cause Details
Directors/owner decided to close the bank because it could not make a profit and ceased operations voluntarily.
Newspaper Excerpt
The Mayfair State savings bank of Chicago voluntarily closed its doors on Sept. 30 ... notices were sent out to the 6,000 depositors asking them to come and get their money, as there was enough in the bank to pay 100 cents on the dollar.
Source
newspapers
Newspaper Articles (17)
1.September 28, 1931The Chickasha Daily ExpressChickasha, OK
Article Text
CHICAGO TO CLOSE AND PAYS IN CASH of the Mayfair State Savings Bank were asked today to call around and get their money, as the bank is going to stop accepting deposits September McGrath, president of the bank, said there was more than enough cash on hand cent of the deposits, which pay every total $600,000. State Auditor Oscar Nelson said this was the first time he had ever heard bank voluntarily going out of business and paying 100 cents the President McGrath said are closing because we can't mait: money.' He added that was expected that from $65 $75 would be realized on each share of the bank's stock.
CLASSIFIED ads tell you things you want know.
2.September 29, 1931Fulton Daily Sun-GazetteFulton, MO
Article Text
Run on Chicago Bank Makes Everybody Happy
Chicago, Ill., Sept. 29-Imagine a bank run and everybody being happy. Such was the case yesterday when the Mayfair State Savings Bank invited its customers to come and get their money, 100 cents on the dollar, because the board of directors decided that it was not possible to pay operating expenses and made a return on the capital invested. By closing time, however, only about on-third of the $600,000 on deposit had been withdrawn.
3.September 29, 1931The Patriot-NewsHarrisburg, PA
Article Text
CLOSES BANK. PAYS HIS DEPOSITORS IN FULL
Chicago, Sept. 28 B. McGrath, Jr., started a run in his own bank today and made history thereby He wrote all of the customers of the Mayfair State Savings Bank, owned by him, that the bank wasn't making profits and that decided to close it. He added that all depositors had better come and get their money because he was going to shut the bank on Wednesday of this week State Auditor Oscar Nelson said it was first time the history of the United States that bank was being closed voluntarily, full payment to all depositors before closing.
4.September 29, 1931Jefferson City Post-TribuneJefferson City, MO
Article Text
BANK RUN WITH EVERYBODY QUITE HAPPY
CHICAGO Sept. 29.-(AP)Imagine a bank run and everybody being happy. Such was the case yesterday when the Mayfair State Savings Bank invited its customers to come and get their money-100 cents on the dollar-because the board of directors decided that it was not possible to pay operating expenses and make a reasonable return on the capital invested. About closing time, however, only about one-third of the $600,000 on deposit had been withdrawn.
5.September 29, 1931The Tipton Daily TribuneTipton, IN
Article Text
BANKER QUITS.
Pays Off and Locks Up His Business.
Chicago, Sept. B. McGath Jr. started a run in his own bank yesterday and made his tory thereby. He wrote all the customers of the Mayfair State Savings bank, owned by him, that the bank wasn't making any profits and that he had decided to close It. He added that all depositors had better come and get their money because he was going to shut the bank Wednesday. State Auditor Oscar Nelson said it was the first time the history of the United States that bank was being closed voluntarily, with full payment to all depositors before closing.
Banker Advises Depositors To Take Money Out
Chicago, Sept. 28. McGrath, Jr., started run his own bank today and made history thereby. He wrote all of the customof the Mayfair State Savings Bank, owned by him, that the bank wasn't making any profits and that he had decided close He added that all depositors had better come and get their money because he going to shut the bank on Wednesday of this week. State Auditor Oscar Nelson said was the first time in history of the United States that bank was being closed voluntarily, with full payment to all depositors before closing. The tall, slender McGrath, called by one of his depositors, the "most honest man in the world," said: fell for this bank business and now I'm to fall out of I'm going closing simply because it isn't profitable. "But I'm no philanthropist. The bank is being closed for good. I've learned my lesson. I'm banking attorney. made my money representing bankers and then was fool enough to become banker myself. I'm going back to my legal practice."
7.September 29, 1931Moberly Monitor-Index and Moberly Evening DemocratMoberly, MO
Article Text
EVERYBODY HAPPY AT RUN ON BANK CHICAGO. Sept. 29 Imaginc a bank run and everybody being happy. Such was the case yesterday when the Mayfair State Savings Bank invited its customers to come and get their money 100 cents on the dollar-because the board of directors decided that it was not possible to pay operating
8.September 29, 1931El Paso TimesEl Paso, TX
Article Text
Closes Bank, Gives Back All Deposits Chicago, Sept. 28 Grath, jr., started run in his bank today and made history thereby.
He wrote all of the customers the Mayfair State Savings bank. owned by him, that teh bank wasn't making profits and he had cided to close He added that depositors had better come and get their money because he was going shut the bank up Wednesday, week. State Auditor Oscar Nelson said was the first time in the history the state that bank was being closed voluntarily, with full payment to all depositors before closing.
9.September 29, 1931The Daily NewsLebanon, PA
Article Text
RUN ON BANK TURNED OUT PLEASING EVENT
Chicago, There was bank run and everybody was happy The Mayfair State Savings Bank invited its customers to come and get their cents on the the board of directors decided that it was not possible pay operating expenses and make reasonable return on the capital invested By closing about one third the deposit had been withdrawn.
10.September 29, 1931The Tipton Daily TribuneTipton, IN
Article Text
BANKER QUITS.
Pays Off and Locks Up His Business.
Chicago, Sept. B. Gath Jr. started run in his own bank yesterday and made his tory thereby. He wrote all the customers of the Mayfair State Savings bank, owned by him. that the bank wasn't making any profits and that he had decided to close it. He added that all depositors had better come and get their money because he was going to shut the bank Wednesday, State Auditor Oscar Nelson said it was the first time in the history of the United States that bank was being closed voluntarily, with full payment to all depositors before closing.
11.September 29, 1931Lebanon Daily NewsLebanon, PA
Article Text
RUN ON BANK TURNED OUT PLEASING EVENT
Chicago, was bank run here yesterday and body was happy. The Mayfair State Savings Bank invited its customers to come and get their cents on the do:the board of directors decided that WAB not possible to pay operating expenses and make reasonable return the on capital invested By closing time, only third the on
12.September 29, 1931Enterprise-RecordChico, CA
Article Text
BANK CLOSES VOLUNTARILY
CHICAGO, Sept. 28. B. McGrath Jr., started a run in his own bank today and made history thereby.
He wrote all of the customers of the Mayfair State Savings Bank, owned by him, that the bank was not making any profits and that he had decided to close it. He added that all depositors had better come and get their money because he was going to shut the bank on Wednesday of this week. State Auditor Oscar Nelson said it was the first time in the history of the United States that a bank was benig closed voluntarily, with full payment to all depositors before closing.
13.September 29, 1931Rushville RepublicanRushville, IN
Article Text
Everyone Was Happy;
Mayfair Savings Bank, Chicago Pays 100 Cents on Dollar and Will Quit Business.
Chicago, Sept. Imagine bank and everybody being happy. Such was the case yesterday when the Mayfair State Savings bank invited its customers to come and get cents on the the board of directors decided was not possible to pay operating expenses and make reasonable return on the capital invested. By closing time, however, only about one the $600,000 on deposit had been withdrawn. A of depositors surgroup B. McGrath, Jr.. rounded T. president and told him they did not wish to withdraw their money. He estimated that at least two more days would be necesthe remaining deto pay out sary posits.
14.September 29, 1931Daily American RepublicPoplar Bluff, MO
Article Text
BANK RUN AND ALL WERE HAPPY, CHICAGO BANK IS SUSPENDED
By The Associated Press. Chicago, Sept. Imagine a bank run and everybody being happy. Such was the case yesterday when the Mayfair State Savings Bank in vited its customers to come and get cents on the dollarbecause the board of directors decided that It possible to pay operating expenses and make reasonable return on the capital invested. By closing time, however, only about one-third the $600,000 on deposit had been withdrawn.
15.October 1, 1931Poplar Bluff RepublicanPoplar Bluff, MO
Article Text
BANK RUN AND ALL WERE HAPPY, CHICAGO BANK IS SUSPENDED
Chicago, Sept 29 Imagine a bank run and body being happy Such was the case when the Mayfair State Sa ings Bank in vited its customers to come and get their money 100 cents on the dollar because the board of directors decided that it not possible to pay operat ing xpenses and make a reasonable return on the capital invested By closing time, however, only about third of the $600,000 on deposit had been withdrawn.
16.October 2, 1931The Wolf Point HeraldWolf Point, MT
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Article Text
whether he succeeded in making his flight to Japan. The Mayfair State savings bank of Chicago voluntarily closed its doors on Sept. 30, but before doing SO notices were sent out to the 6,000 depositors asking them to come and get their money, as there was enough in the bank to pay 100 cents on the dollar. The reason the bank was closing was because it couldn't make money under present conditions. But it's probably the first time in history when a bank president voluntarily started a run on his bank.
17.October 8, 1931Mitchell TribuneMitchell, IN
Article Text
Only One Born In Captivity T. B. McGarth Jr., Chicago, started run on his own bank, the first time in history this was ever done, and made history thereby. He wrote all the customers of the Mayfair State Savings bank, owned by him, that the bank wasn't making any profits and that he had decided to close it. He added that all depositors had better come and get their money because he was going to shut the bank. State Auditor Oscar Nelson, of IIIinois, said it was the first time in the history of the United States that a bank
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