4545. Lorimer bank (Chicago, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 12, 1914
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
bd05161f

Response Measures

None

Description

The Lorimer bank suspended mid-June 1914 (papers say 'suspended yesterday' in June 13 issues). No discrete mistaken-communication run is described; the bank was insolvent and later placed in receivership (receiver bond approved). Related smaller banks closed because their cash was tied up with Lorimer. Dates approximated from newspaper publication dates.

Events (3)
1. June 12, 1914 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank became insolvent or had funds tied up; state examiner and state's attorney investigating alleged insolvency and questionable withdrawals; suspension followed apparent insolvency rather than mere rumor.
Newspaper Excerpt
the big Lorimer bank suspended yesterday.
Source
newspapers
2. June 18, 1914 Other
Newspaper Excerpt
Attorney General Lucey, of Cook county has made application to the courts for the appointment of a receiver to take charge of the Lorimer bank, which suspended business several days ago.
Source
newspapers
3. June 20, 1914 Receivership
Newspaper Excerpt
Receiver $2,500,000 bond approved by Judge Windes. ... Ass't State's Attorneys ... have been appointed by Hoyne to handle Lorimer bank case. It is rumored that evidence has been found by Hoyne that will show bank took deposits two days after becoming insolvent.
Source
newspapers

Newspaper Articles (5)
1. June 13, 1914 The Detroit Times Detroit, MI
Article from The Detroit Times, June 13, 1914

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Article Text

Women With Babies, Breathing Prayers and Imprecations, Keep All Night Vigil Before Buildings RAY OF HOPE HELD OUT BY BANK EXAMINER Harkin Says Directors Hope To Obtain Sufficient Money To Resume Business CHICAGO, June 13.-With the doors of six banks, including the La Salle Street Savings and Trust which C. N. is bank, vice-president president, of closed, William Lorimer Mundy, of the Lorimer bank, made a public statement this afternoon, declaring that every depositor of each of the banks that have suspended will be paid in full. The doors of the Southwest Savings bank, the sixth institution to suspend were closed at noon, when several depositors, their brought unable to in withdraw voluntary bankruptcy funds, proceedings in United States court. Judge Carpenter appointed the Central Trust Co., of Illinois, receiver. The action followed close upon the heels of the closing of the State Bank of Calumet, this morning. CHICAGO, June 13.-The State bank of Calumet, the fourth smaller institution affected by the closing of the LaSalle-st. Trust & Savings bank yesterday, failed to open its doors today, and was put in the hands of the state bank examiner. Its deposits are less than $150,000. Charles W. Novak, president, announced that state officials were given charge of the Calumet bank on request of the bank directors. He said he was positive that an examination would be followed by resumption of business. The bank's available cash was tied up when the big Lorimer bank suspended yesterday. State Bank Examiner Harkin declared today that no more banks, to the best of his knowledge, will be closed because of the suspension of the Lorimer bank.

2. June 13, 1914 Evening Journal Wilmington, DE
Article from Evening Journal, June 13, 1914

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Article Text

FOURTH CHICAGO BANK CAUGHT IN CRASH CHICAGO, June 13.-The State Bank of Calumet, the fourth smaller institution affected by the closing of the La Salle Street Trust and Savings Bank yesterday, failed to open its doors today and was put in the hands of the State bank examiner. Its deposits are less than $150,000. Charles W. Novak, president, announced that State officials were given charge of the Calumet bank on request of the bank directors. He said he was positive that an examination would be followed bv resumption of business. The bank's available cash was tied up when the big Lorimer bank suspended yesterday. State Bank Examiner Harkin declared today that no more banks, to the best of his knowledge, will be closed because of the suspension of the Lorimer bank.

3. June 20, 1914 The Day Book Chicago, IL
Article from The Day Book, June 20, 1914

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Article Text

ACTION SOON IN BANK MESS Ass't State's Attorneys Chas. C. Case, Jr., and George C. Bliss have been appointed by Hoyne to handle Lorimer bank case. Receiver $2,500,000 bond approved approved by Judge Windes. It is rumored that evidence has been found by Hoyne that will show bank took deposits two days after becoming insolvent. C. B. Munday predicted LaSalle street bank would re-open. Hoyne will investigate withdrawal of $374,000 by Marquette National Fire Insurance Co. from bank three days before the closing. Munday is interested in company. State's attorney will ask County Board for $20,000 special appropriation for this case. Lorimer quit Southern Traction Company. Receiver appointed for firm of C. B. Munday of Litchfield, Ill.

4. June 22, 1914 The Alaska Citizen Fairbanks, AK
Article from The Alaska Citizen, June 22, 1914

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Article Text

110 Detter me wowale girls whom the club members are trying to reform In his opinion. a large part of the delinquency among the girls of the exclusive society circles is traceable directly to the modern dances. ROOSEVELT'S VOICE FAILS. LONDON June 17 Colonel Roosevelt is having much trouble with his larynx. as the result of too much talking since his arrival here. His condition became so serious to day that he was compelled to call on a throat specialist. He has been advised to do no more talking in public until he recovers from his present trouble and in consequence all his speaking engagements have been canceled. RECEIVER WANTED CHICAGO. June 18. - Attorney General Lucey, of Cook county has made application to the courts for the appointment of a receiver to take charge of the Lorimer bank. which suspended business several days ago. TEDDY LEAVES LONDON LONDON June 18 -Colonel Roose. velt started for Southampton this morning, from which port he will embark for the United States on the steamship Imperator His departure was without stantation. ROOSEVELT COMING SOUTHAMPTON. June 18 Colonel Roosevelt is a passenger on the steamship Imperator bound for the United States. Before his departure. the colonel informed interview ers that he had no intention of be. coming a candidate for governor of New York He will do little talking on the trip across the ocean. RAILROAD STRIKE FEARED CHICAGO. June -There is the probability that every railroad west of this city will be tied up as the result of the vote which is being taken today by the engineers and firemen. to decide whether or not a call will be issued for a general strike. The men have made a demand upon the companies for an increase in wages. for shorter hours. and for the employment of addi tional help. They claim that the roads are being operated short-handed and that they are compelled. in consequence, to work much longer hours than should be necessary. WOULD EMPLOY RUEF. SAN FRANCISCO. June 18.-Rev. Perrin rector of the Episcopal church of this city, has informed the state prison board that he stands ready to give Abe Ruef employment in case the former political boss is given his parole. Ruef is serving a 14-year sentence for grafting. MINERS STILL AT WAR. BUTTE Mont.. June 18. The rebellious members of the local branch of the Western Federation of Miners won a decisive victory over the rival faction in the referendum vote which was taken yesterday. The vote stood about 30 to one in favor of the insurgents. There are indications that the fight will be carried to other locals and serious trouble is expected before the differences between the workers are adjusted satisfactorily. VESSEL ASHORE. MANILA. P. I., June 18. - The British freighter Hynford is in a perilous position in the Gulf of A1bany, where she was grounded last night. Particular concern is felt for the safety of the vessel because of the approach of a typhoon which is now sweeping across the ocean. FORMER CONGRESSMAN DIES PORTLAND, Ore., June 19.-Richard S. Williams, a former congressman from this state, died here today at an advanced age. Senile debility is given as the cause of death. J. C. AMES RESIGNS. CHICAGO, June 19. - John C. Ames, collector of customs at this port since 1906. tendered his resignation to the department today. No reason is given for the retirement. SHARP APPOINTED. WASHINGTON, D. C., June 19.The senate has confirmed the nomination of William Sharp of Ohio as ambassador to France. PASSES THROUGH CANAL. PANAMA. June 19. Another successful passage through the Panama canal was recorded today, when the steamship Santa Clara was lifted over the isthmus on her return from Balboa to New York. No difficulties were encountered in any part of the canal.

5. June 22, 1914 The Day Book Chicago, IL
Article from The Day Book, June 22, 1914

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Article Text

THE BANK MESS State's Attorney Hoyne begins examination of Lorimer bank depositors. Receiver Niblack is hopeful of paying "dollar for dollar." Friend of Tribune's told story of Lorimer loaning big money to several political allies. Bank Examiner Harkin is in charge of outlying Lorimer-Munday banks. City Comptroller Traeger to begin court action to recover $705,000 city money. Ass't State's Attorneys Case and Bliss may call directors of bank. Kenwood Trust & Savings Bank closed doors following depositors' meeting. TRILBY THOMPSON CAUGHT Trilby Thompson, Chicago bandit, who escaped from Joliet over a year ago, has been caught in Minneapolis, according to a telegram received by Chief of Detectives Halpin today. Thompson was one of the most sought men in the state. After his sensational escape from the penitentiary with "Sonny" Dunne, who died