Article Text
THE GERMAN SAVINGS BANK. D. H. fiorton. Receiver of the German Savings Bank. filed his twenty-sixth monthly report yesterday, which is no follows: INSCRIPTS.
4454. German Savings Bank (Chicago, IL)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- savings bank
- Start Date
- June 19, 1880
- Location
- Chicago, Illinois (41.850, -87.650)
Metadata
- Model
- gpt-5-mini
- Short Digest
ecbe2f30
Response Measures
None
Description
Articles (Chicago Daily Tribune, 1880-1881) report that the German Savings Bank is in receivership and that the receiver (D. H. / O. H. Horton — OCR variation) files monthly reports. No mention of a depositor run is present. Receiver presence implies suspension/closure and permanent winding up; thus classified as suspension_closure. OCR shows two initials for Horton (D. H. and O. H.) — likely the same receiver; documented here.
Events (2)
1.
June 19, 1880
Receivership
- Newspaper Excerpt
- D. H. Horton, Receiver of the German Savings Bank, filed his twenty-sixth monthly report yesterday, which is as follows: RECEIPTS..
- Source
- newspapers
2.
*
Suspension
- Cause
- Government Action
- Cause Details
- Bank placed in receivership and payments suspended; receiver (Horton) filing monthly reports indicates suspension by appointment of a receiver.
- Newspaper Excerpt
- Receiver of the German Savings Bank filed his twenty-sixth monthly report yesterday
- Source
- newspapers
Newspaper Articles (3)
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Article Text
THE COURTS. Some Important Decisions by Judge Blodgett. John v. Farwell Again Sues the " News for Libel. New Suits, Divorces, and Other Legal Items. LUCKY CREDITORS. Judge Blodgett yesterday decided several cases which he has heard during the past week or two but none of them happened to contain any questions of general Interest. The most important was that of Hornee It. Kelly against Rudolph Wolfson, Theodore Wollstein, and others, which WILS a creditor's bill on n Judgment for $1,100.50 rendered in March, 1870, against Wolfson & Wollstein. The firm did business in this city during 1878, and failed In January, 1870. They began with very httle capital, and during the Intter part of 1878 bought about $35,000 worth of tobacco and Hquors, the greater part of which was soon after disposed of below cost. With the proceeds the paid all thoir Individual debts, leaving the firm creditors out in the cold, and sold the remulnder of the stock to Fordinand Nouberger for $4,987.80. The only consideration for this sale WR a n past Indebtedness due by thom to Neuberger. It was charged that this sale, and also divers' other conveyances, us well as the payments of the individual debts, constituted fraudulent transactions, which should be set nsido. The Judge beld the proof failed to show there had been any fraud in the transnetions complained of. The conveyance to Goldstein and the payment of about $1,500 to Mrs. Wolfson were In sutisfaction of prior debts. The Bankruptcy law had been repeated, and thore being no law in force at the time those payments were made forbidding preferences, there could be no doubt that Wolfson but the right, with the assent of his partner Wollstein, to pay his Individual debts out of the partnership assets. It had been repeatedly decided that Brui property belonged to the individual memhers of the firm. The proof 08 to the transueHon with Neuberger showed the firm was Indebted to him In the full amount stated. Ho held Judgment notes for the amount on which he could and would have entered up judgment had he not been paid. The firm was nt the time Insolvent, and the members knew It. Under such efrennatances they offered to sell Neuberger the remainder of their stock, and he took It at an appraised value. That, at most, was a prefcrential transaction, and not prohibited by the law. There was no bailgo of fraud on the sale ns far as Neuberger was concerned. Ho seemed to have been IL bonn tide creditor, and 08 such had n right to obtain payment out of his debtors' assets Ir he could do NO. Nor were the charges of fraud proved against any of the other dofendants, and the bill would have to be dismissed us to them all. The case of Weller vs. Turkington was also n creditor's bill to enforce payment of n judgment rendered Jan. 20, 1878, for 18, and to reach some lands In Oglo County. conveyed in 18T2 by the defendant Turkington through one Reed to his (Turkington's) wife. The Judge held the convoyance fraudulent as against complainant, and directed a deeree to be entered declaring that Mrs. Turkington held the land In trust for complainant, and that his judgment was a lien on It. The remaining enses were Hipple vs. Babbage. another creditor's bill, in which IL decree was rendered In favor of complainant, and that of The Connectient Mutual Life-Insurance Company V8. Seammon, which came up on a motion for the distribution of certain rents and profits received from the mortgaged premises belonging to Seammon, and situated on the corner of Lake and Clark streets, botween the salo under the mortgage and the expiration of the atteen months allowed for redemption. THE GERMAN SAVINGS BANK. 0. 11. Horton, Receiver of the German Savings Bank, filed " report yesterday of his official doings for the month of October, which is as follows: RECEIPTS. Cash nt Inst report $3,580 Inits receivable 4,177 Rents ICI Total $8,088 DISDURSEMENTS, Abstracts $ 31 Receiver's loan fund 3,500 Interest on same 140 200-$3,874 Receiver's expenses Balance on hand 81,813
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Article Text
# FREEHOLD ESTATES. In the cases of Gage v. Balley and Gage v. McLaughlin, the former a bill to remove a cloud in the shape of a tax-deed, and the latter a bill to establish title where a tax-deed was outstanding against the property Involved, the Appellate Court held that both cases involved a question of freehold, and that therefore they had no jurisdiction in either case. The appeals were dismissed. # GERMAN SAVINGS BANK, The following is a synopsis of the report for December of O. H. Horton, Receiver of the German Savings Bank: RECEIPTS. Cash at last 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