Citizens State Bank (Edinburg, IL)

Episode Information

Episode UID
70089871558
Episode Type
Run → Suspension → Unsure
Bank Type
state
Bank ID
7008987 routing
Routing Number
70-0898
Start Date
October 18, 1929
Location
Edinburg, Illinois (39.657, -89.390)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5fe1104141d178d7

Response Measures

None

Description

Articles report a run that forced the bank to close doors but give no clear information on permanent failure or reopening.

Events (2)
1. October 18, 1929 Run
Cause
Local Banks
Cause Details
Run triggered by failure of the Colegrove State Bank (a correspondent), causing depositors to withdraw from Citizens State Bank.
Measures
Directors closed the bank's doors to protect depositors and called for state/national examiners to audit books.
Newspaper Excerpt
A sudden fear ... caused a run on these banks that necessitated the closing of their doors.
Source
newspapers
2. October 18, 1929 Suspension
Cause
Local Banks
Cause Details
Closed due to runs connected to the failure of Colegrove State Bank and consequent loss of depositor confidence.
Newspaper Excerpt
The directors of the Turner State Bank of Edinburg took similar action and their doors were also closed this morning and State Auditor Nelson notified.
Source
newspapers

Newspaper Articles (11)
1. October 18, 1929 The Taylorville Daily Breeze Courier Taylorville, IL
Article from The Taylorville Daily Breeze Courier, October 18, 1929

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Article Text

Best Interests of Depositors Given as Reason for Closing 2 Local, and Edinburg Banks Directors of First National, Taylorville National and Turner State Banks Decide to Close Doors to Protect Their Depositors From Heavy Runs Being Made Upon Them as a Result of the Failure of the Colegrove State Bank Last Week A financial situation never before equalled in Christian county has been brought about by the failure of the Colegrove State Bank one week ago today. A sudden fear on the part of the depositors of the Bulpitt State Bank and the Citizens State Bank of Edinburg, correspondents of the Colegrove Bank, caused a run on these banks that necessitated the elosing of their doors. This situation alarmed the depositors of the First National and the Taylorville National Banks caus* ting a run on them yesterday that the directors of the two banks felt would eventually threaten the safety of their depositors if they continued to remain open and they closed their doors this morning until this chaotic situation can be cleared up. The directors of the banks called for the national bank examiners to come and audit their books preparatory to the complete reorganization as soon as the conditions warrant. The Farmers National Bank was the only bank in the city to remain open and a large number of their depositors drew their money from the bank today but J. A. Adams, president of the bank. stated there was no cause for worry with them as they have a sufficient amount on hand to pay off all their depositors if necessary. Oscar Nelson, state auditor, is in the city today working in connection with the affairs of the Colegrove State Bank, and he stated that the people should not get unduly excited about these conditions as they can be adjusted much more readily if the depositors will remain orderly and not get nervous. When some of the depositors of the Farmers National Bank were cheerfulty given their money this morning became reassured and put their money back into the bank. Clifford Stokes, eashier of the First National Bank, and Troy Long president of the Taylorville National bank, had no statement to make except that the lack of confidence on the part of many depositors and their withdrawal of deposits had brought on a condition that might eventually jeopardize the security of the other depositors and they deemed it best to close their doors. The directors of the Turner State Bank of Edinburg took similar action and their doors were also closed this morning and State Auditor Nelson notified.

2. October 19, 1929 The Paducah Sun Paducah, KY
Article from The Paducah Sun, October 19, 1929

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Article Text

RUN ON BANK IS CHECKED BY PLANE Chicago Bank Sends Funds to Illinois Bank ILL., Oct. 19 of the sky yesterday dropped bags to bring renewed faith town and stave off bank run which would most certainly have resulted empty vaults the only bank which remained open The drone an airplane motor the signal that the day was saved and that the line of 250 positors front of the Farmer's National Bank need have no fears of not getting their money. most like magic the line faded away another redepositing money they earlier had withdrawn. Relief rushed by airplane Farmers Bank by Chicago Federal Reserve officials as soon they learned that Taylorville's other three banks had been closed. The banks that have been closed John Colegrove and company, state bank: the National Bank, and the First National Bank, all of Taylorville; Citizens State Bank and the Turner State Bank both Edinburg, and the State Bank of Bulpitt.

3. October 19, 1929 Alton Evening Telegraph Alton, IL
Article from Alton Evening Telegraph, October 19, 1929

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Article Text

Planes Rush Cash To Taylorville To Stop Bank Run Confidence Renews As Money Arrives From Federal Reserve Out of the sky yesterday dropped money bags to bring renewed faith to a panic stricken town and stave off a bank run which would almost certainly have resulted in empty vaults nt 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-custimers redepositing the money they earlier had withdrawn. Relief was rushed by airplane to the Farmers Bank by Chicago Federal Reserve officials as soon as they learned that Taylorville's other three banks had been closed and that a dangerous run had started. Today bank examiners were scanning books of the three closed banks and three others in nearby towns. Thus far, "frozen assets" have been unofficially blamed for the shutdowns. The banks that have closed are: John B. Colgrove and Co., State Bank; the Taylorville National Bank. and the First National Bank. all of Taylorville; the Citizens State Bank and the Turner State Banks both of Edinburg, and the State Bank of Taylorville merchants confident that the banks' conditions were sound, basically advertised today that they would accept checks payable on any of the banks for merchandise. Crops were both blamed for the difficulty and looked to for relief. Failure of approximately 50 per cent of the corn crop was believed to have caused the frozen assets, while the soy bean crop, now being harvested, Is expected to ease the situation.

4. October 19, 1929 New Britain Herald New Britain, CT
Article from New Britain Herald, October 19, 1929

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Article Text

AIRPLANE BRINGS MONEY TO BANKS Arrival of Cash Turns Run Into Depositors' Rush Taylorville, 111., Oct. 19 (A)--Out of the sky yesterday dropped money bags to bring renewed faith to a panic stricken 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--customers redepositing the money they earlier had withdrawn. Relief was rushed by airplane to the Farmers' bank by Chicago federal reserve officials as soon as they learned that Taylorville's other three banks had been closed. Today bank examiners were scanning the books of the three closed banks and banks in three other nearby towns. Thus far, "frozen assets" have been unofficially blamed for the shutdowns. The banks that have been closed are: John B. Colegrove & Company, State Bank, the Taylorville National bank, and the First National bank. all of Taylorville; the Citizens' State bank and the Turner State banks, both of Edinburg, the State bank of Bulpitt.

5. October 19, 1929 Evening Star Washington, DC
Article from Evening Star, October 19, 1929

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Article Text

FUNDS DROP FROM SKY TO STOP BANK RUN AS 3 OTHERS CLOSE Plane Motor's Drone Saves Day and Customers Redeposit Withdrawn Money. By the Associated Press. tomers redepositing the money they earlier had withdrawn. TAYLORVILLE, Ill., October 19.Relief was rushed by airplane to the Out of the sky yesterday dropped money Farmers' Bank by Chicago Federal Rebags to bring renewed faith to a panicserve officials as soon as they learned stricken town and stave off a bank run that Taylorville's other three banks had been closed. which would almost certainly have reToday bank examiners were scanning sulted in empty, vaults at the only bank the books of the closed banks. Thus which remained open. far, "frozen assets" have been unofficially blamed for the shutdown. The drone of an airplane motor was The banks that have been closed are: the signal that the day was saved and John B. Colegrove & Co., State Bank, that the line of 250 depositors in front the Taylorville National Bank and the of the Farmers' National Bank need First National Bank, all of Taylorville; the Citizens' State Bank and the Turhave no fears of not getting their money. Almost like magic the line ner State Bank, both of Edinburg; the faded away and another formed-cusState Bank of Bulpitt.

6. October 19, 1929 News-Press Fort Myers, FL
Article from News-Press, October 19, 1929

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Article Text

Plane Drops Money Bags To Stop Run On Illinois Bank (By The Associated Press) Out of the sky yesterday dropped money bags to bring renewed faith to a panic stricken 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 customers redepositing their money they earlier had withdrawn. Relief was rushed by airplane to the Farmers bank by Chicago Federal Reserve officials as soon as they learned that Taylorville's other three banks had been closed. Today bank examiners were scanning the books of the three closed banks and banks in three other nearby towns Thus far. "frozen assets" have been unofficially blamed for the shutdowns. The banks that have been clos ed are: John B. Colegrove and Company, state bank, the Taylor ville National bank, and the First National bank, all of Taylorville the Citizens State bank and the Turner State bank both of Edinburg. and the State Bank of Bulpitt.

7. October 19, 1929 The Akron Beacon Journal Akron, OH
Article from The Akron Beacon Journal, October 19, 1929

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Article Text

BANK Depositors At Taylorville, III., Grow Wary As Three Other Institutions Close FROZEN ASSETS BLAMED Associated Press TAYLORVILLE Ill., Oct. 19. Out of the sky yesterday dropped money bags to bring renewed panic and stave off bank run which would almost certainly have resulted empty vaults at the only bank which remained open. drone of an airplane motor was the signal the day was the 250 itors the National bank no fears of getting their Deposit Money Again Almost like magic line the money they earlier had withdrawn. Relief was rushed by airplane the Farmers bank Chicago federofficials they learned Taylorville's other three banks had Other Books Today ning the the three and nearby Thus sets" been unofficially blamed for the shutdowns. The banks that have been closed John Colegrove state bank, Taylorville National bank and the First National bank, the Citizens State bank and Edinburg, the State Bank of Bulpitt

8. October 19, 1929 The Dispatch Moline, IL
Article from The Dispatch, October 19, 1929

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Article Text

Moline Will Have Large Radio Station. Dispatch Special Service Washington, D. C., Oct. 19.-It has been definitely decided to include Moline among the 110 cities in which commercial radio stations for communication will be constructed by the Universal Wireless Communication company before 1932, officials of the Chicago concern stated here today. The Moline station is expected to serve Rock Island and other municipalities. The federal radio commission has just granted adequate channels to the company, and has been informed that work on ten stations will be under way at once. The station at Moline is not included among the first ten, but will be in one of the early quotas, officials believe. It was also announced that the first public showing of the apparatus to be used in the 110 stations will be made at the Chicago radio show. Cities in the first program are New York, Chicago, Buffalo, Cincinnati, Cleveland, Akron, Dayton, Columbus, Detroit, Trenton, New Brunswick, Milwaukee, Peoria, Springfield, Ill., Baltimore, Boston, Memphis, Norfolk, Providence and Washington. eral reserve officials as soon as they learned that Taylorville's other C. three banks had been closed and that a dangerous run had started. Today bank examiners were scanning books of the three closed banks and three others in nearby towns. Thus far, "frozen assets" have been unofficially blamed for the shutdowns. The banks that have closed are: John B. Colgrove and company, State bank, the Taylorville National bank and the First National bank, all of Taylorville: the Citizens State bank and the Turner State bank, both of Edinburg, and the State bank of Bulpitt. Taylorville merchants. confident that the banks' conditions were sound, basically advertised today dy. that they would accept checks payable on any of the banks for merchandise. Crops were both blamed for the difficulty and looked to for relief. Failure of approximately 50 percent of the corn crop was believed to have caused the frozen assets, while the soy bean crop, now being harvested, is expected to ease the situation.

9. October 19, 1929 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, October 19, 1929

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Article Text

AIRPLANE USED TO PREVENT BANK RUN Money Is Rushed by Air to Institution in Taylorville, Taylorville, III., Oct. the Associated of the sky yesterday dropped bags to bring faith to panicstricken town stave off bank run which would almost certainly have resulted in empty vaults at the only bank which remained open. The drone an airplane motor the signal that the day was saved, and that the line of 250 depositors front of the Farmers National bank need have no fears not getting their money. Almost like magic the line faded away and another redepositing the money they earlier Relief rushed by airplane to the farmers bank by Chicago federal reserve officials soon as they learned that Taylorville's other three banks had been closed and that dangerous run had started. Today bank examiners were scanning the books the three closed banks and three others nearby towns. Thus far, "frozen assets" have been unofficially blamed for shut downs. The banks that have been closed John Colegrove Co., State bank, the Taylorville National bank the First National bank, all of Taylorville; the Citizens State bank and the Turner State banks, both Edinburg, and the State bank of Bulpitt. Taylorville merchants, confident that the banks' conditions were sound. basically advertised today that they would checks payable on any of the banks for merchandise. Crops were both blamed for the difficulty and looked to for relief. Failure per cent of corn crop was believed have caused the frozen assets, while the bean now being harvested, is expected ease the situation.

10. October 19, 1929 The Birmingham News Birmingham, AL
Article from The Birmingham News, October 19, 1929

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Article Text

Money Bags Drop From Skies And Halt Run On Bank Out Friday money bags bring faith to town and stave off bank run which would almost certainly have resulted empty vaults at the only bank which remained open. The drone an airplane motor was the signal that the day saved and that the line of 250 depositors in front of the Farmers Na. tional Bank need have no fears of not getting Almost like magle faded and other formed redepositing the money they had Relief rushed by airplane to the Farmers Bank by Chicago Federal officials they learned that Taylorville other three banks had been closed Saturday bank examiners were scanning the three closed and banks three other nearby Thus "frozen assets have been unofficially blamed for the The banks that have closed John B. Colegrove Company. National Bank First National Bank, all of Taylorville the Citizens State Bank and Turner State Bank, both of Edinburg: the State Bank

11. October 20, 1929 Fort Worth Star-Telegram Fort Worth, TX
Article from Fort Worth Star-Telegram, October 20, 1929

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Article Text

Plane Brings Cash to Stave Off Run on Illinois Bank By Associated Press. Out of the sky Friday dropped money bags to bring renewed faith panic stricken town and stave off bank run which would almost certainly have resulted in empty vaults at the only which open. The drone of an airplane motor was the signal that was and that the of 250 in front the Farmers National Bank need have fears not getting their no money. Almost like magic the line faded away and another tomers redepositing the money they had withdrawn. Relief rushed by airplane to the Farmers Bank by reofficials they learned that other three banks been Saturday bank examiners were scanning the books the three closed bank banks in three others in nearby Thus far, have been blamed unofficially for the shutdowns. The banks that have been closed are: John Colegrove State Bank, Taylorville National Bank, and the First National Bank, all of Taylorville: the Citizens State Bank the Turner State Banks, both Edinburg, the State Bank of Bulpitt.