Brighton Park State Bank (Chicago, IL)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
October 2, 1931
Location
Chicago, Illinois (41.850, -87.650)
Bank Type
state
Routing Number
2-0343

Metadata

Notes

Articles state the bank was taken over by State authorities for liquidation.

Events (1)

1. October 2, 1931 Suspension
Cause
Government Action
Cause Details
Bank closed and taken over by the State (State Auditor/State Banking Department) for liquidation.
Newspaper Excerpt
outlying Chicago banks closed their doors today. They were the Calumet National, the Hegewisch State, the Brighton Park State and the Marshall Square State.
Source
newspapers

Newspaper Articles (2)

Article Text

CLOSING STEUBENVILLE, Muskegon Depository Taken Over by State; Had Deposits at Last Report. Special to the CHICAGO, Oct. outlying Chicago banks closed their doors today. They were the Calumet National, the Hegewisch State, the Brighton Park State and the Marshall Square State. The Calumet National in its last report showed total of and deposits of 422. The bank was in the hands the Comptroller of the Currency. The Hegewisch Bank had deposits of the Brighton Park State deposits were and Marshall Square deposits amounted to All the banks taken over by the State Auditor. Kewanee (III.) Bank Closes Doors; President Died Recently. First National Bank here failed open its doors today. Dana, cashier, issued statement saying that account heavy drawals, directors deemed close. The bank solvent and directors expect to pay depositors in full, Dana said. The bank had deposits of Edward Whiting. president of the bank, died last Saturday. Oct. The Union Savings Bank and Trust of suspended business today and was taken over for liquidation by State Banking Directors last night voted to ask the State to liquidate the bank to which they said had been paired by deposits. The bank last 30 reported total resources 000. It capitalized for $350,and reported surplus of Oct. This town of 6000 population without today when the First National Bank of and the Banking Trust State depository. failed open business. tices announced the banks closed pending In June the Richwood Banking Co. reported of deposits $599,331 and the First National ported deposits of $533,770. Muskegon, Mich., Bank With $2,286,938 Closes. the Mich., Oct. failed People's State Bank for Savings to open for today. stated that the bank was closed for liquidation the direction directhe State Banking Department. The last financial statement showed total resources of 480, deposits of $2,286,938 and of $300,000. Oct. trust companies in closed their doors today. They were the Onley Bank Trust two branches the Jefferson Title and Trust Utica State Bank in La Salle County (III.) Suspends. The Utica State Bank Utica, near here. failed to open its doors today, fifth bank to close in La Salle County in four days. Officers of the Bank which was capitalized $50,000. said deposiwould be repaid in full and that run on bank caused the closing. Three Ottawa banks and one at Serena, near here, also been closed.


Article Text

HEAVY SELLING LACKING ON BIG MARKETS TODAY Tone In Government Better Bonds Regarded As Sign Of End Of Distress Liquidation: Some Soft Spots Noted. By CLAUDE JAGGER Associated Press Financial Editor NEW YORK. strength for sustained upturn experienced further better tone in the bond market. particularly government issues regarded sign that distress liquidation had been pleted and considerable talk in brokerage of good buyshare market on scale ing down brisk upturn of points attracted no following. and was Sof spots cropped out here and there Lesses about points appeared in Union Carbide EastCoca Cola and Allied Chemical Rails sagged after midday losing point or Steel up early trading. this advance was later replaced moderate loss American Telephone pushed up only fall about from the top. American Tobacco B rose and fell back Trading was most active on the advance. however, and dwindled considerably as the Lst slid back On the whole speculative sentiment Wall street brightened considerably with the lifting of heavy selling pressure The weekly mercantile reviews prostreet's reported retail buying had been by cooler ther low prices and large advertising expenditures Clothing dealers are reporting good volume CLOSE CHICAGO BANKS CHICAGO, Oct. Chicago banks closed their doors today. They the Calumet National. State the Brighton Park State and the Marshall Square State. PEORIA LIVESTOCK Livestock Hogs 1,500; higher: top $5.55; 200-270 lbs. 160190 lbs. $4.75-5.25; packers $3.50 stags Cattle-200; steady: veals $9.50 FOREIGN EXCHANGES NEW YORK, eign exchanges irregular. Great Briin dollars, others cents. Great Britain France no; no; Bel23.35 Holland 40.22; Norway 22.50; Sweden 24.00; Denmark 22.25 Switzerland 19.60; Spain: Portugal Greece 1.29% Austria 14.06; Tokyo 49.38: Montreal 87.50. METALS NEW YORK. Oct. Copper quiet: electrolytic spot and future Tin steady: spot and nearby 22.25 future 22.75 iron quiet and unchanged. Lead steady: spot York East St. Louis 4.22: zinc steady East St. Louis SILVER NEW YORK Oct. Silver 27% SUGAR NEW YORK Oct sugar 3.40; refined 4.50 COFFEE NEW YORK Oct. tos 7407%: Rio futures quiet: Dec 4.59 March 4.80: Santos steady: Dec 6.92: March 7.13 COTTON NEW YORK. Oct ton steady. 10 tod points lower Oct. Dec 5.73. Jan. 5.84-85 March 6.02May 6.21-22; July 6.38-40 Spot quiet middling 5.70