Dime Savings Bank - Chicago, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: May 18, 1901
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 37cbe8f6

Response Measures

None

Description

Article describes the bank as defunct and in receivership; creditors have nominated a successor receiver. No run or reopening mentioned. The receiver had been in charge since 1885 and is resigning (article dated 1901-05-18) — long-drawn-out settlement; bank remains closed.

Events (1)

1. May 18, 1901 Receivership

Newspaper Excerpt: Miss Orthena Little...is to succeed him. ...Mr. Metcalf tendered his resignation with the understanding that Miss Little would be appointed. She served in that capacity for the Dime Savings Bank for several years prior to the failure and is considered a woman of rare business ability.
Source: newspapers

Newspaper Articles (1)

1. May 19, 1901 The St. Louis Republic Saint Louis, MO

Article from The St. Louis Republic, May 19, 1901

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Article Text

Creditors Recommend Appointment of Miss Orthena Little, an Illinois Girl. # SHE HAS HAD EXPERIENCE. Was With Former Receiver, Who Resigned With the Understanding That She Was to Succeed Him. REPUBLIC SPECIAL Chicago, Ill., May 18.-Miss Orthena Little, who came here ten years ago from Rockford, may soon have the distinction of being the only woman ever appointed receiver for a bank. A majority of the creditors have nominated her, and Judge Chetlain is expected to confirm the nomination on May 28, although some of the creditors have filed objections. Some time ago Ralph Metcalf, who has had charge of the affairs of the defunct bank since his appointment as receiver in 1885, tendered his resignation. His resignation was due, it is said, to the desire of the creditors to reduce the heavy expense contingent upon the long-drawn-out settlement. At that time it was agreed among a large number of the former depositors that Miss Little, who has been employed as clerk in the receiver's office, and who is thoroughly familiar with the affairs of the bank, should be recommended for the position. Attorney E. C. Wetten, counsel for the receiver, is a strong advocate of Miss Little's claim to the appointment, and is confident she will be selected by the court. He said: "Miss Little is not only fully qualified for the office, but from her long connection with the bank prior to the failure is familiar with every detail of affairs in connection with the receivership. Mr. Metcalf tendered his resignation with the understanding that Miss Little would be appointed." Miss Little also enjoys the distinction of being the first woman bookkeeper to be regularly employed in a Chicago bank. She served in that capacity for the Dime Savings Bank for several years prior to the failure and is considered a woman of rare business ability. She lives with her widowed mother. In speaking of her possible appointment and the objections raised by certain of the creditors, Miss Little said: "I suppose they object to my having such an office from the mere fact that I am a woman. I am fully capable of taking charge of affairs, and I am personally acquainted with many of the former depositors."