3716. Chicago Bank (Chicago, IL)

Bank Information

Episode Type
Suspension β†’ Closure
Bank Type
state
Start Date
December 19, 1905
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
750c342bc167c957

Response Measures

None

Description

Multiple articles (Dec 1905–Jan 1906) report that the Chicago Bank suspended operations under control of John R. Walsh and will be liquidated; a later article (Aug 8, 1906) documents receivership actions and defaulting president Paul O. Stensland. No clear contemporaneous description of a depositor run is given; the sequence is suspension followed by receivership/closure. Bank type not stated explicitly.

Events (3)

1. December 19, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Control and mismanagement tied to John R. Walsh; articles state banks suspended and affairs to be liquidated; suggests bank-specific failure/mismanagement rather than mere rumor.
Newspaper Excerpt
Three of the largest financial institutions in the west, the Chicago bank, the Home savings bank and Equitable Trust company, all controlled by John R. Walsh of Chicago, have suspended operations.
Source
newspapers
2. January 13, 1906 Other
Newspaper Excerpt
All power of control in the Chicago bank, and the Home Savings National formerly controlled by John R. Walsh, has passed from the stockholders ... committee in charge of the liquidation of the two banks. Stockholders ... will investigate their management.
Source
newspapers
3. August 8, 1906 Receivership
Newspaper Excerpt
Depositors of Chicago Bank Will Probably Receive Dollar for Dollar. ... he will turn over to Receiver Felzer to-morrow, the estate and personal property of Paul O. Stensland ... It is now believed the depositors will receive dollar for dollar.
Source
newspapers

Newspaper Articles (4)

Article from The Grenada Sentinel, December 23, 1905

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Article Text

blown to pieces and the interior OI the mine badly damaged. Edward Joris, the Belgian, and in three others charged with participation sultan, the attempt to assassinate the been in Constantinople, last July, have sentenced to death and other life. accomplices to penal servitude for While being loaded at Lexington, Ky., Gonfor shipment to Mexico City, imp. handisalvo, winner of the Czarwitch just cap, dropped dead. He had been St. bought by Cavanaugh Bros., of Louis, at a pretty long price. Engineer-in-Chief William Shock, U. of S. navy, retired, died in Washington He bronchial trouble, aged 84 years. civil was a veteran of the Mexican and wars. Three of the largest financial national institutions in the west, the Chicago the bank, the Home savings bank and by Equitable Trust Co., all controlled in John R. Walsh, of Chicago, and a great measure owned by him, have sus- Chicago bended. The allied banks of have pledged their resources that every cent. Repositor shall be paid to the last duties Miss Alice Roosevelt paid the on the various presents and her souvenirs brought back from the orient with personal check for $1,206.15. Earl Rush and Glen Jones es- were Irowned and three others narrowly Eel caped a like fate, by the -ice on river, at Logansport, Ind., breaking with them white skating. As the result of a panic caused by the street car taking fire following 1 lowing out of a fuse, at Cleveland, O., was Anna Staba, a 13-year-old girl, rampled to death. In connection with the Annapolis azing case congress comes in for re- some riticism for adopting a resolution for nstating three midshipmen expelled azing after passing a law providing or dismissal for the offense. Fire destroyed the north wing of at the Northern Michigan normal school Marquette and damaged the library uilding. Loss, $52,000; no insurance The bureau of statistics, department that if commerce and labor, estimates United he commerce between the reach, States and the Philippines will or the current calendar year, $20,000,00, against $15,000,000 in 1904. John A Burbank, a former in territorial governor of Dakota, died at his home illness, Richmond, Ind., after a brief '82 pes which uo that e uo punoj quioq V President Loubet of France was trav- on ling with a shooting party, proved, affair. xamination, to be a harmless Some uneasiness has been caused in to France by the Spanish proposal conhange the meeting place of the Alerence on Moroccan reforms from eciras to Madrid. Prof. S. Stanhope Orris, and professor meritus of Princeton university, the ne of the foremost scholars in Pa., Inited States, died at Harrisburg, f paralysis, aged 70 years. Marquis Ito is said to have in accepted n appointment as resident general Two Korea. men who held up the Colby tate bank at Colby, Wis., were and capured in a saloon in Wausau, Wis., They 1! of the stolen money recovered. of work laimed to be farm hands, out nd Mrs. Wm. desperate. Marsh and her two in children a nd James Dwyer lost their lives theater re that destroyed the Verbeck n Lorain, O. Two of the principal blocks in bank Dallas, 11., including the First national dend the Weekly Review office, were but troyed by fire. Loss, $80,000, with ittle insurance. Dr. W. S. Forbes, professor of an- Jefferson tomy and clinical surgery at died at medical college, Philadelphia, is home, in that city of angina pecoris, aged 74 years. Charles B. Eames, vice-president was of he St. Louis creadit-clearinghouse, off illed at his home while burning he stock of an old add muzzle-loading rmy rifle which he had bought to bulo his collection of old firearms, a head. et from the gun penetrating his Baron, Former State Senator W. R. resident of the defunct Chamberlain disank, has been bound over to the on a court at Tecumseh, Neb., with rict perjury in connection


Article from Orleans County Monitor, December 25, 1905

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struggle for mastery between th ernment and the proletariat. sides have lined up for battle. Railroad trains and electric were the cause of the deaths e persons and the fatal injury of a in and about Boston. William G. Crawford, former auditor for the postoffice depar was convicted of a charge of cons to defraud the United States. A bomb was thrown through dow of the Allied Iron associat New York, wrecking part of a which has been used as a bureau employment of non-union men. Upon the testimony of phono photometers and oscillometers a of $56,167 was returned by a Boston in the case of trustees Albany building, against the Elevated Railway company. The special election held f purpose of deciding the question nexing South Portland to P Me., was defeated by about 375 District Attorney Moran has the Boston police commission th of the leading hotels of the cit been guilty of violations of the laws, and demands that the e sion see to it that the sale of li the hotels mentioned cease i ately. Herbert H. Asquith, the new chancellor of the exchequer, ani that the main issue of the ca will be free trade against prote Governor La Follette has se Wisconsin legislature his resi as governor, to take effect on 1 Monday in January, to enable take his seat in the United Sta ate, to which he was elected. Tuesday, Dec. 19. TUESDAY DEC 19 Rioting broke out in Shang American and German consuls stoned, two foreigners were sl many others wounded. It is g that the moving causes for th were the anti-American boycot general feeling of hostility tow eigners. Three of the largest financi tutions in the west, the Chicago ] bank, the Home savings bank Equitable Trust company, all controlled by John R. Walsh of ( have suspended operations. I fairs will be liquidated as ra possible and they will go out ness. The Russian workmen's cou der the very noses of the pol succeeded in printing 100;000 ( its paper announcing that the ment has declared a civil war proletariat and saying that tl lenge must be accepted. A Dutch convoy was ambuso Achin (Island of Sumatra, Dut Indies). Twelve men were kil eight wounded. The Achinese men killed. Evangelist William Sunda closed a five weeks' revival at : ton, Ia. He is credited with made 2500 converts. The resid nated $4000 to him. About 100,000 people from state in the union and foreig tries have visited the frigate ( tion, at the Boston navy yar past three vears


Article from The Glenwood Post, January 13, 1906

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CONDENSED TELEGRAMS an Grand Trunk railroad has placed at The order for eighty-one locomotives a cost of $1,398,800. first tournament of the Western Salt Bowling The Congress will open in Lake City March 7th. The General Assembly of Kentucky Paynter elected Judge T. H. J. has United States senator to succeed C. S. Blackburn. five and three fourths miles Recently were laid on the Cape-to-Cairo constitutrailway of rails in twelve hours, this ing a world's record. Postmaster General Cortelyou has the a recommendation for in approved use by rural carriers of automobiles serving their routes. An Atlanta dispatch says placed that the an railway has just involving Southern for 8.729 freight cars, an order outlay of more than $5,000,000. Napoleon Lajoie has signed and a play conto manage and captain Ameritract base for the Cleveland second can league for the season of 1906. Judge C. C. Goodwin, the Utah resumed pionewspaper man, has editor-inneer newspaper work as Telechief daily of the Salt Lake Evening gram. William J. Bryan has given a prize Bowdoin College for the best essay to the principles of free Sher- govdiscussing ernment. It is called the Philo man Bennett prize. Chinese implicated in the asThree of American missionaries the eassination Lienchou were executed in at of the joint commission were on premises December 7th, and many others punished. Yellow fever has disappeared from of Since the first appearance been Havana. in October there have the disease cases, twenty-three of of which which sixty-nine resulted fatally and forty-six were discharged cured. test run by a Baltimore Chicago & Ohio In a train from Garrett to 100 special Ohio, a speed of nearly several Junction, hour was reached at miles miles points, an the whole run of 128 being made in 126 minutes. Isaac Saylor, his daughter, children Mrs. Martin and her five inst., Peter burned to death on the 8th Juan were their home in Pleasantview, a fire ita at county, Pennsylvania, in which destroyed their home. Chicago dispatch says that the First Rev. A D. Rogers, pastor of Park, near Baptist George church of Highland declared himself Fort Sheridan, reserve has in favor of the re-establishment without of the army canteen. F. Scott state game warden National of Montana, W. and president of the Fish War Association of Game and and Commissioners, has called take a dens of that organization to and place meeting in St. Paul January 25th 27th. Crowe was arraigned in the inst. DisPat Court at Omaha on the 6th Cudahy triet charge of robbing E. A. He in $25,000 a in the kidnapping case. was of not guilty and his trial set pleaded for February 7th. His bond was fixed at $7,000. Near Crane, Missouri, while dynamite, railway laborers were thawing out attemptthe explosive caught fire. In kicked save it one of the men William the ing dynamite to and it exploded. were killed McNeal and Joe Kepoe and several others injured. Goff, who was President Roose- huntvelt's Jack guide during his Colorado serious last spring, has had a lions in ing trip with two mountain was encounter Yellowstone park. He says thinks he he seriously injured but life. was not lucky to escape with his San Francisco, January 8th, of the the Union At labor party took charge All of the municipal administration. officials were heartily and incoming by their predecessors with inigreeted into the duties connected will tiated the various offices which they occupy. owners of claims in turned the Local Mountain district have synCopper the offer of the New York down to bond and lease some taken of the to dicate Samples of ore gold to properties. York ran over $30,000 in said New and the New Yorkers are to the be ton very anxious to obtain an interest in the properties. Secretary Bonaparte has Commander written a of reprimand to with the letter Young in connection BenLucien explosion on the gunboat boiler The reprimand is somewhat altonington. tone and the letter is Comman- not mild in uncomplimentary to congether der Young, who, it is said, may sent to its publication. advance sheets of the Official Catholic From Directory, published the in total Milit is found that United waukee, population of the of Catholic is 12,651,944, an increase The States over the previous year. 189,151 number of Catholic priests, intotal cluding seculars and regulars, is 14, 484, an increase of 627. All power of control in the Chicago bank, and the Home Savings National formerly controlled by John R. Walsh, to has passed from the stockholders Chicago presidents of six other that the who form the committee banks in charge the liquidation of the as has of the two banks. Stockholders of sets both banks will investigate their management. is announced from Ardmore, I. It the Rough Riders will send to T., that Alice Roosevelt, on the occasion Long. of Miss her marriage to Congressman presnext month, a handsome worth States Marshal Colbert, of the Rough Assowho is behind the movement, secretary ciation, ent. United Riders' has made a request on each Rough


Article from The Pensacola Journal, August 9, 1906

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Depositors of Chicago Bank Will Probably Receive Dollar for Dollar. REAL AND PERSONAL PROPERTY OF DEFAULTING PRESIDENT WILL BE TURNED OVER TO REICEIVERAUTHORITIES AFTER STENSLAND AND HERING. By Associated Press. Chicago, Aug. 8.-There is hope that the physical ailment of Banker Stensland, who has been a sufferer from a bronchial disease for seven years may lead to his arrest. Search for Cashier Henry W. Hering has turned in the direction of inquisition against a handbook operator with whom Hering had placed many bets. Vice President Theodore Stensland with Jacob J. Kern, his attorney, appeared in Justice Severson's court this afternoon and the hearing was continued until August 18. Theodore Stensland, the Vice President, has come to the rescue of the twenty-two thousand depositors, saying that he will turn over to Receiver Felzer to-morrow, the estate and personal property of Paul O. Stensland, his father, which he values at six hundred thousand dollars. It is now believed the depositors will receive dollar for dollar.