German American National Bank (Aurora, IL)

Episode Information

Episode UID
446901254
Episode Type
Run Only
Bank Type
national
Bank ID
44690 national
Charter Number
4469
Start Date
June 30, 1904
Location
Aurora, Illinois (41.761, -88.320)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
75e8c7e7be5e2f85

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected

Events (2)

1. November 15, 1890 Chartered
Source
historical_nic
2. June 30, 1904 Run
Cause
Bank Specific Adverse Info
Cause Details
Cashier Col. J. H. (Jacob) Plain confessed to large embezzlement/shortages (reported about $90,000) after speculative losses, triggering withdrawals.
Measures
Officials paid out depositors who lined up; directors declared the bank prepared and large deposits were made to show confidence.
Newspaper Excerpt
Several hundred people today besieged the doors of the German-American National Bank, the cashier of which, by his own confession, is short $90,000 in his accounts.
Source
newspapers

Newspaper Articles (11)

Article from The Daily Morning Journal and Courier, July 1, 1904

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Article Text

WOMEN BESIEGE BANK DOORS. Several Hundred Gather at Institution at Aurora, III. Aurora, III., June CO.-Several hundred people, mostly German women, today besieged the doors of the GermanAmerican bank, the I cashier of, which, Colonel J. H. Plain, by his own confession, is short $90,000 in his accounts. For three hours the officials attended to the wants of the people, and when the run ended the directors said $32,744 had been withdrawn. For three years Plain had been indebted to the bank, and the strain has left him a physical wreck. He attributes his misfortunes to speculations. He lost over $30,000 in Colorado lands, about the same in United States Steel, $18,000 in the Northern Pacific corner and $10,000 in corn.


Article from Daily Kennebec Journal, July 1, 1904

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CONDENCED DISPATCHES. Several hundred people, mostly German women, Thursday, besieged the doors of the German-American bank at Aurora, III., the cashier of which, Col. J. H. Plain, by his own confession, is short $90,000 in his accounts. After three hours the officials attended to the wants of the people and when the run ended, the directors said that $52,744 had been withdrawn. Plain attributes his misfortunes to speculation.


Article from New-York Tribune, July 1, 1904

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STEEL CASHIER'S UNDOING. Frightened Women Besiege Bank He Robbed of $90,000. Aurora. Ill., June 30.-Several hundred people today besieged the doors of the German-American Bank, the cashier of which, Colonel J. H. Plain. by his own confession. is short $90,000 in his accounts. For an hour there was no diminution of the crowd. Most of those clamoring for their money were German women. Some carried bables in their arms as they lined up for their turn at the paying teller's window. Huge stacks of gold, silver and currency were piled on the counters. A number of prominent citizens entered the bank during the rush and made large deposits, but even this failed to reassure the frightened women. The bank officials declared the institution prepared for the run. Most of the withdrawals were said to be by small depositors. In three hours there was no one in front of the paying teller's window and the run apparently was over. The directors said that $32,744 had been withdrawn. The defaulter is a physical wreck. In his confession he attributed his downfall to "unfortunate speculation." Ambition to become a "landed proprietor" in Colorado was the aim of these speculations. Speculation in United States Steel stock, he said, was his final undoing.


Article from Daily Capital Journal, July 1, 1904

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Article Text

Great Run on Bank. Aurora, Ill., July 1.-Several hundred people yesterday besieged the doors of the German-American national bank, the cashier of which, by his own confession, is short $90,000 in his accounts. For an hour there was no diminution of the crowd. Huge stacks of gold, silver and currency were piled on the counters. A number of prominent citizens entered the bank during the rush and made large deposits. In three hours the run was apparently over. The directors said that $32,744 had been withdrawn. The defaulter is a physical wreck. For three years he has borne the ceaseles strain in trying to hide the hole in the bank's reserve fund, while the hole had been growing broader and deeper. In his confession of the shortage, Cashier Plain attributed his downfall to "unfortunate speculation."


Article from The Birmingham Age-Herald, July 1, 1904

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Article Text

Bank Besieged. Chicago, June 30.-Several hundred people today besteged the doors of the German-American bank, Aurora, Ill., the cashier of which by his own confession is short $90,000 in his accounts. For an hour there was no diminution of the crowd. The bank officials declared the institution prepared for the run. Most of the withdrawals were said to be by small depositors.


Article from The Saint Paul Globe, July 1, 1904

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CASHIER FOUND IT HARD TO COVER TRACKS Three Years' Strain Makes Col. Plain a Physical Wreck I AURORA, Ill., June 30.-The German-American bank, the cashier of which, by his own confession, is short $90,000, successfully sustained a run today. The defaulter is a physical wreck. For three years he had borne the ceaseless strain of trying to hide the hole in the bank's reserve fund while the hole had been growing deeper and broader. Discovery finally came, and, confronted with the charge of taking the bank funds, the cashier confessed to a shortage of $40,000. Further examination raised this amount to over $55,000, and after the officials had unearthed all the worthless items Cashier Plain himself pointed out $32,000 worth of bonds which he said he had sold an investor and carried on the books as the property of the bank. While the bank had been cutting the coupons and crediting them to its own profit account every six months, Cashier Plain said he had been paying the amount of the* coupons twice a year to the real owner. Plain's thefts are stated by officials to amount to $87,100. In his confession of the shortage Col. Plain attributed his downfall to "unfortunate speculation."


Article from The News & Observer, July 2, 1904

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Article Text

A SPECULATIVE PATH TO RUIN. Col. Plain $90,000 Short in His Accounts-Tells the Story of His Downfall. (By the Associated Press.) Aurora, Ills., June 30.-Several hundred peoplรจ today besieged the doors of the German-American bank, the cashier of which, Colonel B. H. Plain, by his own confession, is short $90,000 in hisaccou nts. For an hour there was no diminution of the crowd. Most of those clamoring for their money were men and women, some of whom carried babies in their arms, lined up to await their turn at the paying teller's window. In three hours there was no one in front of the paying teller's window and the run apparently was over. The directors said that $32,743 had been withdrawn. The defaulter is a physical wreck. For three years he had borne the ceaseless strain of trying to hide the hole in the bank's reserve fund, while the hole had been growing deeper and broader. Discovery finally came and confronted with the charge of taking the bank's fund the cashier confessed.


Article from The Washington Times, July 2, 1904

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"HONEST" CASHIER SHORT; FOLLOWED MANY EXAMPLES AURORA, III., July 2.-The run on the German-American National Bank ceased yesterday morning. "Honest" Jacob Plain, it develops, has taken $30,000 from his friends, borrowed on notes without collateral. This, too, was lost in Steel stocks. It makes his total shortage $120,000. "I simply did what half your successful cashiers in Chicago have done," said "Honest" Jacob, former cashier of the German-American National Bank, and confessed embezzler of $90,000, today. "In my case," he continued, "the result was disaster; in their case it is success. Everything depends on the turn of the cards."


Article from The Butler Weekly Times, July 7, 1904

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Article Text

Run On Illinois Bank. Aurora, III., July 1.-Despite the embezzlement of $90,000 by its cashler, the doors of the German-American bank were opened promptly this morning The officials began paying out money to several hundred depositors who were in line when the doors opened to withdraw deposits. Several large deposits were made by wealthy people to show confidence in the bank.


Article from Baxter Springs News, July 7, 1904

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HAD A VISION OF WEALTH. Thieving Bank Cashier, Now a Physical Wreck. Repeats Story of His Downfall. Aurora, Ill., July 1.-Several hundred people besieged the doors of the German-American bank, the cashier of which by his own confession is short $90,000 in his accounts. Most of those clamoring for their money were German women. Some carried babies in their arms as they lined up for the turn at the paying teller's window. Huge stacks of gold, silver and currency were piled on the counters. A number of prominent citizens entered the bank during the rush and made large deposits. In three hours the run was apparently over. The directors said that $32,744 had been withdrawn. The defaulter is a physical wreck. For three years he had borne the ceaseless strain of trying to hide the hole in the bank's reserve fund, while the hole had been growing deeper and broader. Ambition to become a "landed proprietor" in Colorado was the aim of his speculations. His trouble began, he said, seven years ago. The first money he took was to pay for land at Sterling, Col. Three years ago his speculations began. He lost $10,000 in a coin deal. This was followed by a loss of $18,000 in the Northern Pacific corner. Speculation in the United States steel stock, he said, was his final undoing. "Steel looked like a good thing," he said. "I bought it at 40 cents. It went to 11. I guess I lost $30,000 there."


Article from The Colfax Gazette, July 8, 1904

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OCEANS Concise Summary of the Wired News of a Week. Important Happenings and Things of Interest from All Over a Great Country. Wednesday, June 29 The prohibition party is holding national convention in Indianapolie. Gen. Quite a boom is in progress for Nelson A. Miles for president. The town of New Boston, Arkansae 25 miles south of Texarkana, has been wiped out by a tornado and several people killed. The advance guards of delegates to the national democratic convention are gathering in St. Louis. The chances favorable for a warm time among the Bourbons. Jacob H. Plain, cashier of the GermanAmerican National Bank of Aurora, III., has been arrested, charged with the misappropriation of $65,000 of the funds of the bank. Over 500 homes, business houses and schools, A short distance from Pittsburg, Pa., have been inundated by a cloud buret. One life is known to have been lost. Fire has devastated the lower half of the village of Lake Placid, N. Y., a wellknown summer resort. A rainstorm set dein and saved the town from utter struction. Thirty-nine men deported from Cripple Creek under military escort,have arrived in Denver and joined the colony of exiles already located there. This colony numbers over 200 men and they have organized a local union affiliated with the Western Federation of Miners. Thursday. June 30. The prohibition party in national con vention at Indianapolis, Ind. has nominated Silas C. Swallow of Penneylvania for president and George W. Carroll of Texas for vice president. A ealoon at Walkerville, Mont., was entered by masked men and $1000 i money and valuables secured from the proprietor and inmates. The robbers escaped. After a trip around the world, John Alexander Dowie has arrived in Chicago. Dowie will now answerin the bankruptcy court, the proceedings having been brought before his departure for Aue tralia. W.H. Maxwell, euperintendent of in atruction of New York City, has been elected president of the National Educational Association which has been in convention in St. Louis. The postmaster general has declined the request of the Louis & Clark exposi tion authorities for the issuance of special series of postage stamps com memorative of the exposition. The steel trust earnings for the June to quarter are over $18,000,000. ample cover in full the preferred dividend. Friday, July 1. Two distinct lines of operation have developed in the preliminary ekirmish ing of the democratic national convention in St. Louis. One is a scheme to rush the nomination of Judge Parker on the first and second ballot, and the other is to scatter votes 80 as to prevent of an early nomination with a view naming Cleveland or Gorman. A fierce forest fire is raging in the mountains near Tombstone, Arizona Much valuable timber and considerable mining property is being destroyed. The Fidelity Savings Association of Denver, Colo., has gone into the hands of receiver. Liabilities are placed at $1,000,000. Two prominent society and club men Minneapolis, Minn., have received fatal of injuries and five other persone were seriously injured by the explosion of gasoline launch on Lake Minnetonka, near that city. The census bureau has issued its bulletin on the negro population. There are 9,204,531 negroes in the United States, found perhaps a larger number than is in any country outside of Africa. Seven thousand one hundred minere in the employ of the various corporations have the Birmingham Ala., district in suspended work, pending the adoption of a new scale of wages. Saturday. July 2. President Roosevelt has arrived at a Oyster Bay, L. I., and was given great reception by his neighbors. Two women and a man, occupants of a automobile that crashed into an motor train in New York, are badly in jured. The women will probably die. Judge Lanning has signed a final de in the United States circuit court at cree Trenton, N. J., ordering a sale of the in United States Shipbuilding Company by foreclosure proceedings instituted the the Mercantile Trust Company and New York Security & Trust Company The two mortgages held by them are $16,000,000 and $10,000,000 respectively. Nearly 1500 employes of the Pullman Company have been laid off at the Officers Pull car shops near Chicago. of man the company declare that it is neces the to cut down expenses and that sary orders on hand do not require 80 large force. Senator J. R. Burton of Kaneas, convicted of accepting money from a com under investigation by the postpany office department, has been granted an appeal to the supreme court by Judge of St. E B. Adams of the district court Louis. Sunday. July 3. The Chicago Limited on the Wabash railroad, a half hour late and running miles per hour, was wrecked inside 50 limits of Litchfield. Ill. Twenty f the city are dead and about 40 more or less persons seriously injured. The engine ran into an open switch and struck a freight and standing on a eiding. The engine the first three coaches were piled in a heap and consumed by fire. William J. Bryan has arrived at the Jefferson hotel in St. Louis and is one of