Ashland State Bank - Chicago, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 18, 1931
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 705f48ee

Response Measures

None

Description

Article (Omaha World-Herald, 1931-12-18) reports Ashland State Bank of Chicago was closed that day by State Auditor Oscar Nelson at the request of its directors. No run is mentioned and no reopening is reported in the clipping, so classified as a suspension that led to closure. Cause coded as government_action because closure was effected by the state auditor.

Events (1)

1. December 18, 1931 Suspension

Cause: Government Action
Cause Details: Closed by State Auditor Oscar Nelson at the request of the bank's directors.
Newspaper Excerpt: The Ashland State bank of Chicago was capitalized at $250,000. had $33,000 surplus and $280 000 deposits.
Source: newspapers

Newspaper Articles (1)

1. December 18, 1931 Omaha World-Herald Omaha, NE

Article from Omaha World-Herald, December 18, 1931

Click image to open full size in new tab

Article Text

Bank Suspensions. Chicago, Dec. 18 Four banks in Cook county, three of them in western suburbs were closed today by State Auditor Oscar Nelson at the request of their directors. The Maywood State bank with $200,000 capital and similar surplus, had $1,100,000 on deposit. The Melrose Park State bank in the adjoining village had $200,000 capital, surplus and deposits totaling $800,000. The Park Ridge State bank northwest of here, had $100,000 capital and $32,000 surplus, with on deposit. The Ashland State bank of Chicago was capitalized at $250,000. had $33,000 surplus and $280 000 deposits. Its deposits 18 months ago were $1,600,000.