gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5665371c63e5c5a8
Response Measures
Accommodated withdrawals, Fed/other loan, Public signal of financial health, Books examined
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1933-01-19
Date receivership terminated
1938-11-12
Share of assets assessed as good
16.4%
Share of assets assessed as doubtful
80.6%
Share of assets assessed as worthless
2.9%
Events (3)
1.June 7, 1900Chartered
Source
historical_nic
2.October 19, 1929Run
Cause
Local Banks
Cause Details
Runs at three other Taylorville banks and recent closings in the county triggered depositor panic at Farmers' National.
Measures
Federal Reserve sent large cash shipment by airplane from Chicago; bank paid depositors in full and met withdrawals.
Newspaper Excerpt
Out of the sky yesterday dropped money bags to bring renewed faith to a panicstricken town and stave off a bank run ... the line of 250 depositors in front of the Farmers' National Bank
Source
newspapers
3.January 19, 1933Receivership
Source
historical_nic
Newspaper Articles (12)
1.October 18, 1929Decatur HeraldDecatur, IL
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Article Text
Plane Breaks on Taylorville Bank
Farmers' National Remains Open After Two Other Banks in City Close to Protect DepositorsPlans for Reorganization
Staff Representative) Oct. financial passed safely early afternoon. THEATERS SOLD An airplane dropped down near Taylorville with supply money for the Farmer's FOX Bank of Taylorville, ample meet demands of depositors. other banks in the town closed. Friday morning The Oct. National Bank of Taylorville and theaters the Frascini chain the Taylorville National Bank closed erating throughout Central Illinois, their doors in an attempt to check the Fox Film Co. was completed run which had developed following Friday morning. The purchase closing of Colegrove State said to have been $700,000. bank in Taylorville week ago. Either directly or indirectly The Turner State Bank of Edin- inick Frascini, burgh also failed to open Friday the following theaters which are morning making total of six banks cluded the sale: Mattoon, Christian county which have clos- leston, within the past Pana, Decision close the two Taylorville banks was reached special meeting the boards directors WATER HITS the two institutions Thursday The condition of the banks believed to be sound. One Bank Operating Friday only one bank in the Farmers' National, operating. Flagship for President HoovAdams, president of the Farmers' National, said that his bank Proposed Visit Is ample reserves of cash on hand would meet all withdrawals Stranded
Crisis Brought
Closing of the banks Friday brought the financial situation county to crisis. Since of the John B. Colegrove Taylorville week have to open. bank closed Thursday, Oct. The following Bulpitt State bank, the Colegrove bank closed. following day the Citizen's State in Edinburg closed. Friday morning three others closed. Coal Co. Helps turn in the panic which has swept the county evident Friday. Several prominent business in made deposits the offsetting by example the effects of steady withdrawals. The Peabody Coal Co. Friday morning deposited $90,000 the State bank to protect against run from depositors. Plan Reorganization Meanwhile plans for reorganizaand possible merger of the Taylorville banks were being discussed. Little progress can be made until national bank examiners arrive. Two of national banking department expected before night. The decision of the two Taylorville national banks to close taken in Interests of the positors officials said. Many small depositors became terrified at ruand rushed to the bank withdraw their funds. check the the directors decided close the bank. Roy Johnson president of the National bank and Troy Long. president the TaylorNational bank. Dorris Shumpresident of the Turner State bank Edinburg which of Friday.
Business Slow The situation attributed present slow conditions the Christian county community. Coal mining has unsteady for period of farming conditions have not the best. factors have (Continued on Page
2.October 18, 1929The Taylorville Daily Breeze CourierTaylorville, IL
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Article Text
AIRPLANE BRINGS EXTRA MONEY TO FARMERS N. BANK
Prompt action on the part of the Federal Reserve bank of Chicago enit of the other banks to their doors open today. Mr. Baughman called the Chicago institution this morning at 9 o'clock and within four minutes the money was on its way to the aviation field at Chicago and plane arrived at the local airport one hour and fifty-five minutes after hopping off from Chieago. The money was brought to the local bank about 12:45 m. but little of it was needed as the run on the bank began to cease shortly after noon and many of the depositors returned with their money before the bank closed.
3.October 19, 1929Jackson Citizen PatriotJackson, MI
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Article Text
PLANE HALTS RUN ON ILLINOIS BANK
Drops Money Bags From Sky to Reassure Long Line of Depositors.
Taylorville 19 Out the sky faith panic bank run which would almost have resulted in at the only bank which reThe drone an airplane motor was the the saved and the of positors Farmers' National need have no of not getting like magic the line positing money earlier Relief by to the Farmers Bank Chicago eral officials they learned Taylorville's othor three banks had Today were of the three banks and nearby Thus been blamed the been closed John and Comthe of the State the Turner Bank. and State Bank of
4.October 19, 1929Green Bay Press-GazetteGreen Bay, WI
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Article Text
MONEY BAGS DROPPED FROM PLANE; RUN ON BANK IS STAVED OFF of the sky dropped bring renewed faith stricken town off bank which would certainly have resulted empty vaults the only bank which remained open. drone airplane motor signal that the saved the positors front Farmers' National need no their like the faded and another money earlier had Relief rushed the bank by Chicago fedreserve officials as they learned that Taylorville's banks had closed. Today bank examiners scanning the books the three closed banks and books others Thus far, cially blamed for the shutdowns.
5.October 19, 1929Evening StarWashington, DC
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Article Text
By the Associated Press. TAYLORVILLE, Ill., October 19.Out of the sky yesterday dropped money bags to bring renewed faith to a panicstricken town and stave off a bank run which would almost certainly have resulted in empty, vaults at the only bank which remained open. The drone of an airplane motor was the signal that the day was saved and that the line of 250 depositors in front of the Farmers' National Bank need have no fears of not getting their money. Almost like magic the line faded away and another formed-cus-
6.October 19, 1929Rapid City JournalRapid City, SD
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Article Text
bank run which would most certainly have resulted in empty vaults the only bank remained open. The drone of airplane motor was the signal that the day was saved and that the line of 250 depositors in front of the Farmers' National bank need have no fears not getting their money. Almost like magic line faded away and another customers redepositing the money they earlier had withdrawn. Relief was rushed by airplane the Farmers Bank by Chicago federal reserve officials as soon as they learned that Taylorville's other three banks been closed.
7.October 19, 1929The RecordHackensack, NJ
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Article Text
AIRPLANE RUSHES MONEY, RUN ON BANK IS STOPPED
Taylorville, Oct. 19-Out of the sky yesterday, dropped money bags bring renewed faith to stricken and bank which would almost certainly have empty vaults the only bank which re. mained open. The drone of an airplane motor was the signal that the day was saved and that the line of 250 depositors in front of the Farmers National need have no fears not money. Almost like magic the faded and other ing the money they earlier had withdrawn. Relief was rushed by airplane the Farmers bank by eral Reserve they learned that three banks had been closed. Today bank examiners were scallning the books of the three closed banks.
$500,000 Sent by Plane Checks Run on Bank
Taylorville, III., Oct. melodramatic arrival of Federal Reserve oficers by airplane Chicago yesterday cash halted an all-day run the one of four banks was believed to have brokthe back money scare that has the closing six Christian Counthe last week. The money was from Chicago telephone help from president Farmers' National run had threatened exhaust all bank's
9.October 19, 1929Kenosha NewsKenosha, WI
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Article Text
Bring Cash to Halt Bank Run
Run on Taylorville, Illinois, Bank Halted by Rushed Supply of Cash
Taylorville, Ill.—(U.P.)—The Farmers' National bank, its vaults stocked with more than $500,000 in cash, most of which was rushed here by airplane from Chicago yesterday, was the only one of the city's four banks open for business today.
Airplane Brings Money, Stops Run On Illinois Bank ILL. Oct. 19. Out of the sky dropped money bags to bring renewed faith to a panic stricken town and stave off bank run which would have resulted in empty. vauits at the only bank which remained open. The drone of an airplane motor was the signal that the day as saved and that the line of 250 depositors in front of the Farmers National Bank need have no fears of not getting their money. Almost like magic the line faded away and anpositing the money they earlier had withdra Relief was rushed by airplane to the bank by Chicago Federal Reserve officials soon they/ learned Taylorville's other three banks had been closed.
11.October 19, 1929Effingham Daily RecordEffingham, IL
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Article Text
MEETING IN TEUTOPOLIS
The regular monthly meeting of the local branch of the American Bureau was held in the Althoff Chiropractic hall in Teutopolis Friday evening. crowd of about one hundred were presSeveral new members added and they had to the organization good program. street. Every check presented promptly honored with the money. President Adams of the FarmNational and Cashier Flody Baughannounced that the bank ficient funds in its vaults to meet every check presented. promptly done as fast This was depositors demanded their money and of oil on the had the effect "pouring waters" the financially troubled pressed river at Taylorville.
12.October 24, 1929Nashville JournalNashville, IL
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Article Text
The American Federation of Lagoing "unionize the South Southern have, on tariff issue and other questions, tears over the fate of poor man, but all attempts unionize the workers in the southern states, obvious reasons, with failure. run bank at Taylorville was frustrated by an airplane arriving from Chicago with $50,000 cash. When depositors were promptly paid in full, "run" petered banks Christian failed their Friday and this caused the of the Farmers' National bank. The of this this and had cured amount however $80,000 had withdrawn and Adams, dent, sent an SOS to the Federal Rebank officers, saved day by this air shipment of funds.
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.
