Commercial National Bank

Episode Information

Episode UID: 71300933
Episode Type: Run Only
Bank Type: national
Bank ID: 7130 national
Charter Number: 713
Start Date: September 12, 1877
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 94d90568c2fb9556

Response Measures

None

Description

Article describes a city-wide run affecting Chicago banks but does not name this bank specifically.

Events (3)

1. January 13, 1865 Chartered

Source: historical_nic

2. September 12, 1877 Run

Cause: Local Banks
Cause Details: Failure/closure of the State Saving Institution in Chicago triggered heavy withdrawals across Chicago banks
Newspaper Excerpt: A general run is being made on all the Chicago banks
Source: newspapers

3. July 30, 1910 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. September 12, 1877 Clearfield Republican Clearfield, PA

Article from Clearfield Republican, September 12, 1877

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Article Text

AN AWFUL "BUST Up."-The State Saving Institution, at Chicago, closed its doors on Friday. The concern is a million of dollars short. The assetts foot up at their face $2,337,496.23 while the true value is only $869,000. The amount due depositors is $3,050,017.17. All the available cash to be found in the Bank was about $24,000 out of the millions deposited by the 15,000 depositors. The Cashier, David D. Spencer, is in Europe. His own individual note for $500,000 was found among the assets. A general run is being made on all the Chicago banks and some more of them may close their doors before the panic is over. But, then Chicago can stand almost anything.