4228. Boulevard State Savings Bank (Chicago, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
April 16, 1931
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
f03f7f9b

Response Measures

None

Description

The bank is described as now closed (Article 1) and a receiver was appointed April 16, 1931 (Article 2). No articles mention a depositor run; the closure led to a receivership and embezzlement allegations, so this is a suspension followed by permanent closure/receivership due to bank-specific adverse information.

Events (2)

1. April 16, 1931 Receivership
Newspaper Excerpt
He had been made receiver on April 16, 1931. Three months later 4,000 depositors petitioned to replace him. (Mid-West Progressive, 1933-01-05).Bank receiver named in theft article identifies Emil Wentzlaff as receiver appointed April 16, 1931 and later charged with embezzlement of $9,029.
Source
newspapers
2. April 16, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed amid investigations into irregular transactions and later embezzlement allegations against its receiver.
Newspaper Excerpt
the Boulevard State Savings bank at Elston avenue and Irving Park boulevard, now closed.
Source
newspapers

Newspaper Articles (2)

Article from Chicago Tribune, August 16, 1931

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Article Text

Bank Records Yield Clews to Big Rum Transactions Federal agents, it was disclosed yesterday, have been scrutinizing the records of north side banks for several weeks, seeking documentary evidence of the liquor traffic reputedly conducted by Ted Newberry, side lieutenant of Al Capone, Frank J, Parker, Montreal distiller. formerly lived in Chicago. He was known here as the flying In twelve banks far examined the agents have traced to Parker nearly and to Newberry of $300,000, according to reports in the federal building. The investigation is being conducted by Coan of the intelligence unit, bureau of internal revenue. Parker Offenses Outlawed. In Parker's case, according to the the only the from 1923 to 1927, the vol. being mainly cleared in Montreal. The purpose of the belated interest in Parker remains obscure, as he established Canadian residence four years ago and is now protected from prosecution for prior offenses by the statute of limitations. In case, however, observers profess to see an obvious reason for probing his financial affairs. The Capone lieutenant already is under indictment in Peoria. He is one of 23 individuals named there on May in federal grand jury as the operators of a distillery in Rock Island county. Clews in Closed Bank. The agents reported to have up the Parker at the Boulevard State Savings bank at Elston avenue and Irving Park boulevard, now closed. Although the bank Emil Wentzlaff, denied having ever heard of Parker or the agent, Coan, learned from other sources that Parker purchased cashchecks to the sum of $47,000 there January, 1923 and June, 1926. Among the first checks Parker drew on that one for $20,000, pay. one Smith, as yet unidentified. April 1925, was payable to the Dominion Distilleries, Ltd., Montreal, a company of which Parker became general and in the he was by the Canadian gov the excise tax. A third to was dated April 23, 1925, and made payable to M. and Mary Messlein. Records of the court show Maj. M. A. Messlein as president of the Major company, of which Attorney Crowe discovered Parker to be manager in the of the pardon mill operated by Will Colvin, chairman of the parole board under Gov. Len Small.


Article from Mid-West Progressive, January 5, 1933

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Article Text

BANK RECEIVER NAMED IN THEFT CHICAGO Emil Wentzlaff, politician and former receiver for the Boulevard State Savings Bank, was named in a warrant charging embezzlement of $9,029. He had been made receiver on April 16, 1931. Three months later 4,000 depositors petitioned to replace him. Wentzlaff has been identified with former Mayor Thompson's political organization. He was a bank examiner when Andrew Russel was state auditor and served as assistant secretary of the Thompson-Crowe faction.