Home Savings Bank - Chicago, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: May 28, 1913
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 97857d3b

Response Measures

None

Description

Article reports the Home Savings (one of the John R. Walsh banks) as wrecked and a receiver (W. C. Niblack) appointed. No run or reopening is mentioned; this is a failure leading to receivership, consistent with suspension followed by closure/receivership. Date taken from dateline: May 28, 1913.

Events (3)

1. May 28, 1913 Other

Newspaper Excerpt: A plan to accept $152,125 from Mr. Billings... was prevented by an order of Judge Tuthill, who appointed W. C. Niblack receiver for the banks.
Source: newspapers

2. May 28, 1913 Receivership

Newspaper Excerpt: Judge Tuthill... appointed W. C. Niblack receiver for the banks.
Source: newspapers

3. May 28, 1913 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Failure tied to schemes/operations of John R. Walsh that wrecked the banks; insolvency alleged in suits by stockholders.
Newspaper Excerpt: Suits to hold C. K. G. Billings... responsible for approximately $5,000,000 due to the failure of the John R. Walsh banks, the Chicago National and the Home Savings.
Source: newspapers

Newspaper Articles (1)

1. May 29, 1913 The Salt Lake Tribune Salt Lake City, UT

Article from The Salt Lake Tribune, May 29, 1913

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Article Text

FAMOUS SPORTSMAN SUED FOR MILLIONS CHICAGO. May 28.-Suits to hold C. K. G. Billings, banker and sportsman of New York and Chicago, responsible for approximately $5,000,000 due to the failure of the John R. Walsh banks, the Chicago National and the Home Savings. were begun in the circuit court here today. Stockholders who brought the suits charged that Billings's negligence as a director permitted Walsh to operate schemes which led to the wrecking of both banks. The amount lost by the Chicago National bank is placed at $3,500,000 and the Home bank losses at $1,500,000. The demurrer of Mr. Billings is on file, attacking the sufficiency of the allegations and stating that the other directors should be made parties to the suits. A plan to accept $152,125 from Mr. Billings, in full settlement of his llability, was prevented by an order of Judge Tuthill, who appointed W. C. Niblack receiver for the banks. Arguments on the suits were set for next Tuesday.