4279. Chicago Bank (Chicago, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 13, 1906
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
2450a4ae

Response Measures

None

Description

Newspaper items (Jan and Aug 1906) describe control of the Chicago Bank being taken from prior management and put into a committee for liquidation (Jan 1906) and by Aug 1906 a receiver (Felzer) is involved and depositors expected to be paid dollar for dollar. No explicit run is described; the bank was suspended/placed into liquidation and a receiver named, implying permanent closure.

Events (2)

1. January 13, 1906 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Control removed from stockholders and a committee of other banks put in charge for liquidation due to mismanagement/financial problems of the bank's prior controllers.
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 to the presidents of six other banks in charge of the liquidation of the two banks.
Source
newspapers
2. August 8, 1906 Receivership
Newspaper Excerpt
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. (Chicago, Aug. 8.) Depositors of Chicago Bank Will Probably Receive Dollar for Dollar. (Pensacola Journal, Aug. 9, 1906).
Source
newspapers

Newspaper Articles (2)

Article from The Glenwood Post, January 13, 1906

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Article Text

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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Article Text

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.