Central Republic Trust Co.

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 15, 1937
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 9943666f

Response Measures

None

Description

Article (May 15, 1937) describes the Central Republic Trust Co. as defunct and names Charles M. Albers as receiver; it was taken over by City National Bank & Trust Co. No run is described. Classify as a suspension/closure with receivership and takeover.

Events (2)

1. May 15, 1937 Other

Newspaper Excerpt: Suit for $8,000,000 was filed yesterday in Superior Court against former Vice President Charles G. Dawes and others on behalf of stockholders of the defunct Central Republic Trust Co.
Source: newspapers

2. May 15, 1937 Receivership

Newspaper Excerpt: Named in addition to Dawes were the City National Bank & Trust Co. of Chicago, the Central Republic Trust Co. and Charles M. Albers, receiver of the Central Republic.
Source: newspapers

Newspaper Articles (1)

1. May 15, 1937 Evening Star Washington, DC

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Article Text

# BANK STOCKHOLDERS NAME DAWES IN SUIT New Institution Took Over Property Without Remuneration, Plaintiffs Charge. By the Associated Press. CHICAGO, May 15.-Suit for $8,000,000 was filed yesterday in Superior Court against former Vice President Charles G. Dawes and others on behalf of stockholders of the defunct Central Republic Trust Co., long known as the Dawes Bank. Wynnett W. McIlvaine filed the suit, which alleged the City National Bank & Trust Co.-the new Dawes Bank-took over the Central Republic, "a tremendous banking organization of great value * without payment of one dollar of remuneration." The suit placed the value of the banking business and organization at $5,000,000 and the value of the real estate, loan and trust business at $3,000,000. Named in addition to Dawes were the City National Bank & Trust Co. of Chicago, the Central Republic Trust Co. and Charles M. Albers, receiver of the Central Republic. The suit was filed, counsel for McIlvaine said, because of the United States District Court decision May 1 holding Central Republic stockholders liable for more than $10,000,000 under stockholders' liability laws. The complaint described the Central Republic as "an old established and solvent institution at the time it was taken over" by the City National. The court was asked to appoint a receiver to handle any recovery it might decree.