In October of 1929 the stock market crashed in the United States. This financial disaster led to a worldwide recession, and the United States entered The Great Depression. This was a difficult time for most Americans, and while some had little choice but to grit their teeth and bare it, others took to a life of crime to get by. In Scott County, the months following the stock market crash saw a rash of bank robberies and heists throughout the county.
In November of 1929, the First State Bank of Savage was the first to be hit by a crew of robbers from St. Paul. The thieves were eventually caught and tried, but not before making off with over $1200 in cash and bonds ($18,000 in today’s dollars). Shortly thereafter, the First National of Bank of Shakopee was robbed, though this time by a different group of thieves. Here they made it away with $5997 (or 89,811 today). This second crew wasn’t content with their massive haul though, and on December 9th 1929, they struck again at the First National Bank of Shakopee.
The increase in violence and robberies (both bank and in private homes), had put the people and police on high alert. An early tip informed the police that the thieves were on their way, and so the police set up a look out. When he didn’t come out after the appointed time, they knew the heist was in progress. This second crew was gunned down by police and locals, though all of the robbers survived. They had taken $1500 from Shakopee’s vaults (some $22,400 nowadays). All three robbers went to try and were sentenced to prison.
Scott County has an interesting history during the 1920s, from bank robbery, to speakeasies, to rum running. In the decades that followed, Shakopee in particular would gain the nickname of Little Chicago due to its gambling parlors. IF you want to know more about the bank robberies, check out our exhibit case at the Scott County Courthouse. One of our recent interns, Ben Malacko, did a whole small exhibit on the matter. We also have Prohibition coming soon to our main gallery. If you have any prohibition stories from the county, or would be interested in placing any Prohibition era items on loan as part of the exhibit, please give us a call or email Dave Nichols.
Written by Dave Nichols, Curator of Collections
Research Conducted by Ben Malacko, Exhibits Intern