4307. Chicago Trust & Savings Bank (Chicago, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
January 25, 1892
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
581be563

Response Measures

None

Description

Newspapers (Jan 25–27, 1892) report State's Attorney Longenecker filed an information to forfeit the bank's charter and seek appointment of a receiver on grounds of usury and fraud. No articles mention a depositor run or temporary suspension/reopening; the legal action seeks receivership (government action) and appears aimed at permanent closure.

Events (1)
1. January 25, 1892 Suspension
Cause
Government Action
Cause Details
State's attorney filed a quo warranto/information to forfeit the bank's charter and to have a receiver appointed, alleging usurious interest, outside ventures, watering stock and other fraudulent practices.
Newspaper Excerpt
State's Attorney Longenecker, in behalf of the people of the State of Illinois, filed an information in the Circuit Court ... to forfeit the charter of the Chicago Trust and Savings Bank and for the appointment of a receiver
Source
newspapers

Newspaper Articles (8)
1. January 26, 1892 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, January 26, 1892

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Article Text

Business Embarrassments. SHEPERDSTOWN, W. Va., Jan. 25.-The Bank of Jefferson. of this place. has closed its doors. The bank was involved heavily in the failure of the Nicholsons Bank, of Baltimore, and the suspension is due to those losses. The amount of liabilities is not known. DAYTON, O., Jan. 25.-Two suits were filed at Xenia, to-day, against the National Cordage Company. One is by Samuel M. Allison for $6,000 unpaid salary. and the other for $22,500 by the Field cordage-works for rent. Property of the company has been levied on by the sheriff. CHICAGO, Jan. 25. - State's Attorney Longenecker, in behalf of the people of the State of Illinois, filed an information in the Circuit Court, this morning, to forfeit the charter of the Chicago Trust and Savings Bank and for theappointment of a receiver, on the ground that it has violated its charter by charging usurious interest. by engaging in outside ventures and by watering its stock.

2. January 26, 1892 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, January 26, 1892

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Article Text

Asked to Close Up Shop. CHICAGO, Jan. 26. - State Attorney Longnecker has filed an information to forfeit the charter of the Chicago Trust and Savings bank, and for the appointment of a receiver, on the ground that it has violated its charter by charging usurous interest, engaging in outside ventures and watering its stock.

3. January 26, 1892 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 26, 1892

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Article Text

CHICAGO, Jan. 25.-State's Attorney Longenecker, in behalf of the people of the state of Illinois, filed an information in the circuit court this morning the forfeit of the charter of the Chicago Trust and Savings bank, and for the appointment of a receiver, on the grounds that it has violated its charter by charging vsurious interest, by engaging in outside ventures and by watering its stock.

4. January 27, 1892 The Enterprise Wellington, OH
Article from The Enterprise, January 27, 1892

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Article Text

WANTS A RECEIVER. Fraudulent Practices Charged Against the Officers of a Chicago Bank. CHICAGO, Jan. 26.-State's Attorney Longnecker presented a petition in Judge Horton's court yesterday for leave to file an information in the nature of a quo warranto in the name of the people of Illinois against the Chicago Trust and Savings bank, Daniel H. Tolman, its president, and its directors, praying for judgment of forfeiture against the bank, its dissolution and a receiver to wind up its affairs. The state's attorney charges the bank with loaning money at usurious rates of interest; with employing illegal methods to conceal its usurious transactions; with fraudulently loaning money to a tannery firm; with unlawfully conducting a circus with the funds of the bank, and finally with selling the stock of the bank under false pretenses. The bank officers say the suit is a blackmailing scheme of its debtors, who are unable to meet their obligations.

5. January 28, 1892 Audubon County Republican Audubon, IA
Article from Audubon County Republican, January 28, 1892

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Article Text

Bank in Trouble. CHICAGO, Jan. 27.-State's Attorney Longenecker, in behalf of the people of the Sate of Illinois, filed an informa tion in the Circuit court this morning to forfeit the charter of the Chicago Trust and Savings bank and for the appointment of a receiver for the institution. M. Tolman, the president, is accused of conspiracy in charging illegal rates of interest and various other violations of the law.

6. January 28, 1892 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, January 28, 1892

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Article Text

Bank In Trouble. CHICAGO, Jan. 25.-State's Attorney Longenecker, in behalf of the people of the Sate of Illinois, filed an information in the Circuit court this morning to forfeit the charter of the Chicago Trust and Savings bank and for the appointment of a receiver for the institution. M. Tolman, the president, is accused of conspiracy in charging illegal rates of interest and various other violations of the law.

7. January 29, 1892 The Forrest City Times Forrest City, AR
Article from The Forrest City Times, January 29, 1892

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Article Text

Bank in Trouble. CHICAGO. Jan. 27.-State's Attorney Longenecker, in behalf of the people of the Sate of Illinois, filed an information in the Circuit court this morning to forfeit the charter of the Chicago Trust and Savings bank and for the appointment of a receiver for the institution. M. Tolman, the president, is accused of conspiracy in charging illegal rates of interest and various other violations of the law.

8. January 30, 1892 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, January 30, 1892

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Article Text

WANTS A RECEIVER. Fraudulent Practices Charged Against the Officers of a Chicago Bank. CHICAGO, Jan. 26.-State's Attorney Longnecker presented a petition in Judge Horton's court yesterday for leave to file an information in the nature of a quo warranto in the name of the people of Illinois against the Chicago Trust and Savings bank, Daniel H. Tolman, its president, and its directors, praying for judgment of forfeiture against the bank, its dissolution and a receiver to wind up its affairs. The state's attorney charges the bank with loaning money at usurious rates of interest; with employing illegal methods to conceal its usurious transactions; with fraudulently loaning money to a tannery firm; with unlawfully conducting a circus with the funds of the bank, and finally with selling the stock of the bank under false pretenses. The bank officers say the suit is a blackmailing scheme of its debtors, who are unable to meet their obligations.