4225. Binga State Bank (Chicago, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1931*
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
34e43fcb

Response Measures

None

Description

Articles (May 1934) describe receiver Edward H. Morris suing Jesse Binga to recover funds and reference the bank's failure in 1931 and Binga's embezzlement sentence. No contemporaneous run is described; the bank had failed and was in receivership. OCR errors in Article 1 corrected (e.g., garbled sentences).

Events (2)

1. January 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure tied to embezzlement and insolvency connected with Jesse Binga; bank failed in 1931 according to articles.
Newspaper Excerpt
failure of the bank in 1931
Source
newspapers
2. May 12, 1934 Receivership
Newspaper Excerpt
Receiver Edward H. Morris of the Binga State bank this week caused a writ to be executed against Jesse Binga, former president of the institution. ... The receiver Invoked the satisfy the liabilities
Source
newspapers

Newspaper Articles (3)

Article from The Chicago Defender, May 12, 1934

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Article Text

Sues Jesse Binga in Bank Crash Receiver Edward H. Morris of the Binga State bank this week caused a writ to be executed against Jesse Binga, former president of the institution. in an effort to collect $119,426 from the erstwhile financier. Execution Clerk Frank Kaukol of the circuit court clerk's office said more than 100 executions have been sent out in the past 10 days. for $100 and Dr. H. RegiSmith Their were included in the along with number of other prominent Binga at the time is for the his first resulted the failed to ended in taken to supreme court after Judge James F. to the president controlled the bank holdings vast seeks to represents an amount of The records did Binga liable to amount equivalent amount stock in case The receiver Invoked the satisfy the liabilities Learn to Play A hint to the boys and girls Why up if for the business to play banjo, violin if are them With be the to nothing of the pleasure derive these Children play the grades schools if on The be gained First school musician finds himself in the class of those dominate the They part appear on school programs and pleasantly helps to establish one in to play note that you can assured of place in your This form of remain to your act Start and let your slogan be: this by next Easter," watch the results


Article from The New York Age, May 19, 1934

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Article Text

Bank Receiver Jesse Suing Binga CHICAGO, Edward H. Morris of the Binga State Bank, pushing suits against Jesse Binga and others to recover upof $150,000 The suit against wards is for $119,426, and executions have been out against 80 or more sent others among them number of othcitizens. Binga at present is under sentence for in connection with of the in bank


Article from The Omaha Guide, May 26, 1934

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Article Text

Receiver Suing Binga And Others To Recover Bank Funds Chicago -(CNS)- - Reciever Edward H. Morris of the Binga State Bank, is pushing suits against Jesse Binga and others to recover upwards of $150,000. The suit against Binga is for $119,426, and executions have been sent out against 80 or more other among them a number of other prominent citizens. Binga at present is under sentence for embezzlement in connection with the failure of the bank in 1931.