4466. Globe Savings Bank (Chicago, IL)

Bank Information

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

Metadata

Model
gpt-5-mini
Short Digest
9c487d5a

Response Measures

None

Description

Articles mention the failure/bankruptcy of the Globe Savings Bank of Chicago and incarceration of its president; no contemporaneous run is described. The bank appears to have failed and been in receivership (high administrative costs cited). Date of failure not given in these snippets.

Events (2)

1. * Receivership
Newspaper Excerpt
administrative costs ... when [[Globe Savings Bank]] were 50 percent and ... bankruptcie Globe Savings Bank ... costs 50 percent a przy bankructwie Dime Savings, 40 percent. (translation: costs at Globe Savings Bank bankruptcy were 50 percent). (Dziennik Chicagoski, 1906-11-05) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )
Source
newspapers
2. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure/bankruptcy connected to alleged frauds and incarceration of the bank's president; fraudulent transactions referenced in litigation involving James H. Brady and others led to bank's failure.
Newspaper Excerpt
the failure of the Globe Savings bank, of Chicago, and the incarceration of its president in the penitentiary
Source
newspapers

Newspaper Articles (2)

Article from Mountain Home Maverick, August 23, 1906

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Article Text

Perhaps the most sensational lawsuit ever instituted in Idaho was filed at Boise Saturday in the Unitcircuit court Charles W. of ed States Spalding, Chicago, by by his C. S. Polk and L. W. Braattorneys, Winchester, against James H. of the and several dy, committee, chairman Republican co-defend- state ants, in which Brady is charged with committing a series of frauds. The bill of complaint consists of 27 pages, typewritten which series recites in the history of a of frauds that began in the detail complainant, Charles 1879, W. whereby Spald~ ing, was defrauded out of $270,000, for which amount, with interest, a judgment is sought to be secured H. against James Brady, the beneficiary. The title of the case is "Charles W. Spalding, plaintiff, vs. James H. Brady, Idaho Canal company, Idaho Canal and Improvement company, A. V. Scott, Pocatello Power & Irrigation company, W. S. Chaney, A. T. Marshall, F. S. Stobbs, A. B. Melville, Royal Trust company, as trustees, defendants.' After reciting the early relations of the plaintiff with Defendant Brady, the failure of the Globe Savings bank, of Chicago, and the incarceration of its president in the penia of the of tentiary, organization together with the Idaho history Canal company and the Pocatello Power & Irrigation company, the complaint proceeds to relate a series of fraudulent transactions whereby Brady appropriated company money to his own use, wrecked the several companies with which he was connected, depreciated their stocks and bonds, and finally bought them for himself at a small fraction of their intrinsic value. This, it is alleged, was done through fraudulent connivance with Illinois state officials, who held the securities in trust. One is the allegation that though was twice to off which money pay furnished certain liens with diagainst the properties, it was verted to his personal use and these liens were employed as a basis on which to apply for and secure the appointment of a receiver. If the complaint can be verified, it's a sure thing that Mr. Brady has been going some. Regarding this suit, J. H. Brady stated to the Boise Statesman: ''The action has been threatened for some time, and I have said to them, 'Proceed at your earliest convenience.' It is blackmail, and everyone familiar with the history of the action has no hesitancy in saying so. "I secured my holdings referred to in the complaint by open purchase on the exchange, where everybody had to a contract a made right with bid, the and governor, by auditor and treasurer of the state of Illinois. "The falsity of the charge is apparent when they are compelled to allege fraud upon the part of the state officers of the state of Illinois, men of unquestioned integrity and standing. These deals were open and above board and were known, not only to the state officers of Illinois, but also to many other men of prominence in that state. "I shall, in a very short time, file my answer and disclose the utter falsity of the blackmailing suit. "This man Spalding defaulted for $600,000 and served seven years in the penitentiary for his crime. Three hundred thousand dollars of this amount he stole from the university of Illinois, and all the assets they secured from him amounted to about 20 cents on the dollar. It was a part of these assets which he turned over to the university, that I purchased. "In order to show that I am guilty of fraud, Mr. Spalding will have to show he was not a default-


Article from Dziennik Chicagoski, November 5, 1906

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Article Text

Sprawy robotnikow. Kiedy onegdaj odbyto sie zgromadzenie unii zwrotniczych,* celem omówienia ostatnich warunkow podanych przez kompanie kolejowe, okazalo sie, ze brakowali dwaj czlonkowie komitetu. Na zebraniu oznajmiono, ze obydwaj padli ofiara swojego powolania. Byt to Thomas Whitley, 7144 Ingleside ave., któremu pociag odcial obie nogi i Jerry P. Lejons, 7200 Woodlawn ave., któremu lokomotywa odciela jedna noge. Zdaje sie, ze smutny ten wypadek przyczyni sie do tego, ze zatrudnienie zwrotniczych bardzo jest niebezpieczne i ze rzadko który zwrotniczy diuzej niz IO lat moze trudnic sie rzemiostem swem bez poniesienia smierci lub okaleczenia. Strajk litografów daje sie we znaki W swiecie kupieckim, a nawet i politycznym. Niezmiernie wiele zamówien, zwlaszcza na wiszace kalendarze na rok nowy, nie da sie wykonac. Dalsza dywidenda dla depozytaryuszy banku Stenslanda. Sedzia Brentano onegdaj upowaznit "receive'ra" Johna C. Fetzera do wyplacenia depozytaryuszom banku Stenslanda dalszych 20 procent ich nalezytosci. Skoro to sie zalatwi, to wyplaconych razem bedzie $2,550,000. Podobno jeszcze czwarta dywidenda bedzie wyplacona W sumie 7 do IO procent. Taki rezultat przewyzsza poczatkowe oczekiwania. Koszta administracyi wynosza tylko I 1/2 procent sum wyplaconych, podczas gdy przy bankructwie "Globe Savings Bank" wynosily 50 procent a przy bankructwie "Dime Savings", 40 procent. Morderstwo i samobojstwo W mieszkaniu p. Anny Hall pn. 259 Orleans str., która odnajmuje pokoje lokatorom, onegdaj wieczorem popelniono podwójna zbrodnie. Panna Hall siedziala przy stole W jadalni Z 34etnim Juddem Carlin, jednym ze stolownikow. Wszedt 36 letni John Lundell,