gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d049f4519a10096e
Response Measures
None
Description
Receivership followed creditors' petition after funds were depleted by repeated holdups.
Events (2)
1.December 27, 1920Receivership
Newspaper Excerpt
creditors petitioned Judge Carpenter in federal district court to adjudge the bank bankrupt. The Chicago Title and Trust company was appointed receiver.
Source
newspapers
2.December 27, 1920Suspension
Cause
Government Action
Cause Details
Creditors petitioned federal court and the Chicago Title & Trust Company was appointed receiver after funds were depleted by holdups and burglaries.
Newspaper Excerpt
The Dressel Commercial & Savings Bank ... failed to open Its doors here today. A notice that the institution was in the hands of a receiver greeted depositors who were on hand at the customary opening time.
Source
newspapers
Newspaper Articles (13)
1.December 27, 1920Indiana Daily TimesIndianapolis, IN
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Article Text
Terse Market Notes WASHINGTON, Dec. 27.-The Illinois Central Railroad Company today asked the Interstate Commerce Commission for authority to Issue $3,245,000 refunding mortgage 4 per cent gold bonds. The bonds are to be used to aid in the meeting of outstanding obligations. The Illinois Central and the Chicago, St. Louis & New Orleans Railroad Companies filed an application asking author ity to issue joint first refunding mortgage bonds to the extent of $3,708,000. CHICAGO, Dec. 27.-The Dressel Commercial & Savings Bank, a private institution patronized largely by small wageearners, failed to open Its doors here today. A notice that the institution was in the hands of a receiver greeted depositors who were on hand at the customary openIng time. No cause for the failure of the bank has been announced. WASHINGTON, Dec. 27.-The operation of schedules on manufactured iron and steel articles in earloads from Houston and Galveston, Texas, and intermediate points to destinations in Louisiana was suspended today by the Interstate Commerce Commission. CHICAGO, Dec. 27.-The slump in general conditions has cost the farmers of the United States $6.000,000,000 to date since It began several months ago, Chairman C. H. Gustafson of the Farmers' marketing committee of seventeen told n meeting of the committee being held here today. The purchasing power of 6,500,000 producers of food in the country has been reduced to a minimum by reason of the slump. which in turn caused a great falling off in the city markets for city-made products, Gustafson said. Predicting better times, due to the fact that the pendulum is believed to have reached the extreme of low markets and is now on its way back to normaley. Gustafson told the committee that the purpose of the farmers marketing plans would hasten the coming of the "better day."
Burglars Succeed in Ruining Chicago Bank Chicago, Dec. 27.-Depositors of the Dressel Commercial and Savings bank waited in vain for its doors to open today and when the president, Andrew Dressel could not be found, creditors petitioned Judge Carpenter in federal district court to adjudge the bank bankrupt. The Chicago Title and Trust company was appointed receiver. Other bank officials said the Dressel bank's funds had been depleted through the operations of hold-up - men and burglars during the past two years.
CHICAGO BANK FAILS TO OPEN DOORS TODAY BY THE ASSOCIATED PRESS CHICAGO, Dec. 27. - Depositors of the Dressel Commercial & Savings bank, waited in vain for its doors to open today and when the president, Andrew Dressel. could not be found, creditors petitioned Judge Carpenter in federal district court to adjudge the bank bankrupt. The Chicago Title & Trust company was appointed receiver. Other bank officials said the Dressel bank's funds had been depleted through the operations of hold up men and burglars during the past two years.
4.December 28, 1920The New York HeraldNew York, NY
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Article Text
BANDITS CAUSE BANK FAILURE. Chicago Institution Goes Into Receivership. Special Despatch to THE NEW YORK HERALD. CHICAGO, Dec. 27.-Three visits during the last three years from bandits who made hauls on two of the raids proved too much for the Dressel Commercial and Savings Bank of Chicago. To-day the bank was forced into the hands of a receiver. The bank was held up first on December 23, 1918, when $6,000 was taken. and again on April 24, 1919, when $1,250 was taken. The third time was on June 16 of this year, when three men in an attempt to hold up the bank killed Louis Rouillard, 48 years old, a depositor. who resisted the robbers. The bandits failed to get any money the last time.
5.December 28, 1920New-York TribuneNew York, NY
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Article Text
Chicago Bank Wrecked By Losses in Hold-Ups Special Dispatch to The Tribune CHICAGO, Dec. 27.-The Dressel Commercial and Savings Bank, 2322 West Roosevelt Road, the scene of three holdups in the last two years, was placed in the hands of a receiver to-day by Federal Judge Carpenter. It is believed that the raids of the robbers, which netted them $7,250, placed the bank in an embarrassing position. Special Dispatch to The Tribune FARGO, N. D., Dec. 37.-Three more Non-partisan League banks closed their doors to-day. They were the First Farmers' Bank of Minot, the Security State Bank of Carpio and the Peoples' State Bank at Hatton. In the last two months twenty-seven state banks in North Dakota have closed. The Minot and Carpio banks had aggregate deposits of about $400,000 and capital of $65.000. The Hatton bank had deposits of $100,000 and capital of $50,000. Officials said the institutions were solvent and would open. PRIMEVILLE. Ore., Dec. 27.-The Crook County state bank of this place failed to open its doors to-day. Shrinkage of values of cattle and sheep on which the institution had made loans was said to have been responsible.
6.December 28, 1920Dziennik ChicagoskiChicago, IL
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Article Text
BANDYCI POWODEM RUINY BANKU. The Dressel Commercial and Savings Bank pur. 2322 Roosevelt road został oddany wezoraj W ręce receivera." Nie wytrzymał on strat, które poniósł skutkiem napadów bandyckich, jakich ofiarą padh W ciągu ostatnich trzech lat. Bandyci napadli po raz pierwszy na bank ten 23 grudnia 1918, przy czem obrabowali go Z $6,000, po raz drugi zaś 24 kwietnia 1919, przy czem zabrali
7.December 28, 1920Omaha Daily BeeOmaha, NE
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Article Text
Raids by Burglars Force Bank to Close Chicago, Dec. 27.-Depositors of the Dressel Commercial and Savings bank waited in vain for its doors to open today and when the president, Andrew Dressel, could not be found, creditors petitioned Judge Carpenter in federal district court to adjudge the bank bankrupt. The Chicago Title and . Trust company was appointed receiver. Other bank officials said the Dressel bank's funds had been depleted through the operations of holdup men and burglars during the past two years.
8.December 28, 1920Daily Kennebec JournalAugusta, ME
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Article Text
SAY BURGLARS CAUSED FAILURE CHICAGO BANK Chicago, Dec. 27-Depositors of the Dressel Commercial and Savings bank waited in vain for its doors to open today and when the president, Andrew Dressel, could not be found, creditors petitioned Federal Judge Carpenter to adjudge the bank bankrupt. The Chicago Title and Trust Company was appointed receiver. Other bank officials said the bank's funds had been depleted through the operations of hold-up men and burglars during the past two years.
9.December 28, 1920Alexandria GazetteAlexandria, VA
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Article Text
CHICAGO BANK CLOSED; PRESIDENT IS MISSING Chicago, Dec. 28.-Depositors of the Dressel Commercial and Savings Bank waited in vain for its doors to open vesterday and when the president Andrew Dressel, could not be found, creditors petitioned Judge Carpenter in Federal District Court to adjudge the bank bankrupt. The Chicago Tile and Trust Company was appointed receiver, Other bank officials said the Dressel bank's funds had been depleted through the operations of hold un men and burglars during the past two years. Minot. N. D., Dec. 28.-The First Farmers' Bank of Minot was closed yesterday. Depleted reserve was given as the reason. The First Security Bank of Carpio, N. D., associated with the First Farmers of Minot, was closed yesterday afternoon. The closing of the People's State Bank at Hatton, N. D., was announced in Fargo. Princeville, Ore., Dec. 28.-The Crook County State Bank. of this place. failed to open its doors yesterday Shrinkage of values of cattle and sheep on which the institution had made loans was said to have been responsible.
10.December 29, 1920Every Evening, Wilmington Daily CommercialWilmington, DE
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Article Text
CHICAGO BANK CLOSED. Three in North Daketa Also Forced to Shut Doors. Chicago, Dec. 29.-Depositors of the Dressel Commercial and Savings Bank waited in vain for its doors to open Monday and when the president. Andrew Dressel. could not be found. creditors petitioned Judge Carpenter in Federal District Court to adjudge the bank bank rupt. The Chicago Title and Trust Company was appointed receiver Other bank officials said the Dressel bank's funds had been depleted through the operations of hold-up men and burglars during the past two years. Minot. N D. Dec. 29.-The First Farmers Bank of Minot was closed Monday Depleted reserve was given as the reason The first Security Bank of Carpio, \ D., associated with the First Farmers of Minot. was closed Monday afternoon. The closing of the People's State Bank of Hatton. N. D., was announced in Fargo.
11.December 30, 1920Iowa County DemocratMineral Point, WI
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Article Text
BANDITS RUIN CHICAGO BANK Three Holdups by Highwaymen Force Dressel Institution Into Receiver's Hands. Chicago, Dec. 28.--Three visits during the last three years from bandits who made rich hauls on two of the raids proved too much for the Dressel Commercial and Savings bank. It was forced into the hands of a receiver.
12.December 31, 1920Wauwatosa NewsWauwatosa, WI
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Article Text
BANDITS RUIN CHICAGO BANK Three Holdups by Highwaymen Force Dressel Institution Into Receiver's Hands. Chicago, Dec. 29.-Three visits during the last three years from bandits who made rich hauls on two, of the raids proved toe much for the Dressel Commercial's and Savings bank. It was forced into the hands of a receiver.
13.December 31, 1920The Winslow MailWinslow, AZ
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Article Text
THUGS AND BURGLARS CLOSE CHICAGO BANK Chicago, Dec. 27.-Its funds depleted by holdup men and burglars in the last two years, the Dressel Commercial and Savings Bank remained closed today. Andrew Dressel, the president, could not be found, and creditors petitioned the Federal District Court to declare the bank insolvent. The Chicago Title and Trust Company was appointed receiver.
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.
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Dressel Commercial & Savings Bank · UID 2020171452
