4680. State Bank of Calumet (Chicago, IL)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 13, 1914
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 1b60b63b

Response Measures

None

Description

State Bank of Calumet was closed/taken into custody by the state bank examiner on June 13, 1914 after the collapse of the La Salle Street Trust & Savings Bank; depositors besieged doors but the closure was ordered by the examiner and later depositors petitioned for receivers (early July). Classified as a suspension that resulted in permanent closure/receivership.

Events (3)

1. June 13, 1914 Other

Newspaper Excerpt: Scores of children besieged the State Bank of Calumet with hand banks in hand, seeking money which they had deposited for a Christmas fund. They crowded about the doors, but could not get their money.
Source: newspapers

2. June 13, 1914 Suspension

Cause: Local Banks
Cause Details: Closed by state examiner after collapse/suspension of the parent La Salle Street Trust & Savings Bank; funds of the Calumet bank were tied up in La Salle and examiners ordered closure pending examination.
Newspaper Excerpt: The State Bank of Calumet ... did not open its doors for business today and State Bank Examiner D. V. Harkin took charge.
Source: newspapers

3. July 6, 1914 Receivership

Newspaper Excerpt: Receivers were asked for three of the Lorimer-Munday string of banks today... They are the State Bank of Calumet ... The application was made by William Freedman, attorney for certain depositors.
Source: newspapers

Newspaper Articles (21)

1. June 13, 1914 New-York Tribune New York, NY

Article from New-York Tribune, June 13, 1914

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SECURITY QUESTIONED ON $1,200,000 LOANS Combined Deposits Exceed $6,000,000 and Cash Means $1,400,000. WHEAT MEN SUSPEND Bank Troubles Partly Attributed to Politics-State Examiner Now in Charge. [By Telegraph to The Tribune. Chicago, June 12.-Four of the banking enterprises built up in Chicago by Charles B. Munday and William Lorimer were closed to-day by the State Banking Department. When the crash came the values remaining were of such a negligible character that none of the solvent banks could be induced to extend a helping hand. According to the records. there had been extracted from the La Salle Street Trust and Savings Bank about $1,200,000 in the way of loans on collateral said to be unmarketable. The banks forced by D. V. Harkin. the State Bank Examiner, to close their doors were the La Salle Street Trust and Savings Bank, the Ashland-Twelfth State Bank, the Broadway State Bank and the Illinois State Bank. The State Bank of Calumet, a fourth subsidiary, was not closed. These sums have been drawn within the last few days by the La Salle Street Trust from the four subsidiary banking institutions, evidently to tide over the larger bank: Ashland-Twelfth Street State Bank, $180,000; Broadway State Bank, $175,000; Illinois State Bank, $170,000: State Bank of Calumet, $115,000. Total, $640,000. Securities Called "Bad." The state bank examiner took possession of the banks after Lorimer and Munday acknowledged to him that it was impossible for them to clear up certain securities and collateral carried in the assets of the bank classed as "bad" by the State Auditor's office. The State Auditor had been insistent that these securities be replaced by "good" collateral ever since the first and only examination made of the bank by the new Democratic administration, in January. Action of the state officials comes soon after the legal proceedings against James J. Brady, State Auditor, and the suit filed by John H. Coyne, in which the names of C. B. Munday, vice-president of the La Salle Street Bank, and others were mentioned. Rumors of a receivership are current. The Ashland-Twelfth Bank was the centre of a riot when its depositors learned of the closing. Men and women clamored for their money. Refusal was met by excited cries, and before the police arrived a stone was thrown through a window and a rush was made on the locked door. Policemen restored order. The banks were known as the Lorimer-Munday chain of banks. The La Salle st. bank was the main institution, the others being outlying concerns, whose balances and reserves were carried to a great extent by it. Combined they have deposits of $6,411.997 and reported cash means of $1,434,692. Of their deposits, $966,000 consists of city funds. The bulk of this amount, $650,000, is on deposit with the La Salle Street Trust and Savings Bank. The sanitary district of Chicago has $75,000 in the La Salle st. bank. An examination of the La Salle Continued on page 2. column 6

2. June 13, 1914 Rock Island Argus Rock Island, IL

Article from Rock Island Argus, June 13, 1914

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n r Two More Chicago Concerns Are Forced to y n e Close Their Doors. EXAMINERS ON BOOKS Former Senator on Verge of Physical Collapse as Result of Business Strain. Chicago, Ill., June 13.-Bank examiners toiled today estimating the value of the securities held by the closed La Salle Street Trust and Savings bank, and three small neighborhood banks closed, possibly temporarily as a result of the suspension of the LaSalle institution. A fifth neighborhood bank, the State bank of Calumet, with capitol of $200,000, closed today because of a large portion of the resources tied up in the La Salle Street bank. Like the other small banks, it may reopen as soon as in a solvent condition. William Lorimer is said to be near a physical collapse from the strain of developments in the last 24 hours. Ap. proximately $4,000,000 are tied up in the five closed institutions. Many Children Depositors. Scores of little children were depositors in the State bank of Calumet, ordered closed today. "The closing of the Calumet bank completes the string as afI fected by the closing of the La Salle t Street bank," said Examiner Harkin, I "All other banks in Chicago are sound. f The banks will remain closed until we g are sure they are safe." f A receiver was appointed by the fed. i eral court for the Southwest Savings bank, a private institution owned by g Louis Krejci. He had $4,000 deposited t in the La Salle Street bank, and when n he heard that bank had closed he suspended business. t Depositors of the International a Trust and Savings Bank, in the north h side residence district were in a steady o stream to withdraw their money toj day. More than $22,000 of the Intere national's funds had been deposited e in the La Salle street bank, but other f securities were ,ample, officers said. S

3. June 13, 1914 Las Vegas Optic Las Vegas, NM

Article from Las Vegas Optic, June 13, 1914

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FIFTH BANK SHUTS ITS DOORS IN CHICAGO LAST OF THE LORIMER-MUNDAY INSTITUTIONS CLOSED IN EXAMINERS LORIMER A PHYSICAL WRECK STATE BANK OF CALUMET IN AS BAD CONDITION AS ALL THE OTHERS LITTLE CHILDREN BESEIGE IT PRIVATE.BANKER ALSO CLOSES DOORS AND SUSPENDS PAYMENT Chicago, June 13.-A fifth bank was closed today by the state bank examiner in connection with the disclosures of conditions in La Salle Street Trust and Savings bank. This bank, the State Bank of Calumet, according to the bank examiner, completes the chain of what were known as the string of Lorimer-Munday banks in Chicago. Two bank examiners from the state audtor's office in Springfield arrived today to assist in the examination of the five banks now in the state banking department's hands. William Lorimer, president of the La Salle Street bank was said to be near a physical collapse from the strain of developments of the last 24 hours. The bank examiners worked steadily on the books of the La Salle Street bank, the Broadway State bank, the Illinois State bank, the Ashland Twelfth State bank and the State Bank of Calumet. Approximately $4,000 000 of deposits are tied up in the state controll ed institutions. Scores of children today besieged the State Bank of Calumet with hand bnaks in hand, seeking money which they had deposited IOT a Christmas fund. They crowded about the doors, but could not get their money. An echo of the closing of the La Salle Trust and Savings bank was heard in the federal court today, when a receiver was appointed, for the Southwest Savings bank, owned by Louis J. Krejci. The private banker had $4,000 deposited in the La Salle Street bank and when he heard the bank was closed he suspended business. Krejci, however, declared he 'had sufficient means to meet the demands of his depositors.

4. June 13, 1914 The Chronicle=news Trinidad, CO

Article from The Chronicle=news, June 13, 1914

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I FIFTH CHICAGO BANK o CLOSED BY EXAMINER Chicago. June 13.-A fifth bank . was closed today by the state bank examiner in connection with the dh. o cleaure of conditions in the La Salle h Street Trust and Savings bank. This " bank. the State Bank of Calumet. ACcording to the bank examiner. completes the chain of what were known as the string of Lorimer-Munday r hanks in Chkcago. P Two bank examiners from the 1 state auditor's office in Springfield " arrived today to assist in the examinI ation of the five banks now in the state banking department's hands. , William Lorimer, president or the Las Salle street bank was said to be 11 near a physical collapse from the " strain of the developments of the last twenty-four hours. 1 The bank examiners worked stead. ily on the books of the in Salle street V bank. the Broadway State bank. the Illinois State bank. the AshlandTwelfth State bank. and the State Bank of Calumet. f Approximately $4,000,000 of deQ posits are tied up in thes tate controlled institutions. Scores of children today besiered the State Bank of Calumet with n handbooks in hand. seeking money 1 which they had deposited for a Christmas fund. They crowded about the doors, but could not get their money. An echo of the closing of the La Salle Street Trust and Savings Bank WAR heard in the Federal court today when a receiver was appointed for the Southwest Savings Pank. owned by Lonis J. Krejel. The private bank. er had $4,000 deposited in the La Salle street vank and when he heard the bank was closed he suspended business. Krejel, however. declared he had sufficient means to meet the demands of his depositors. a

5. June 14, 1914 The Sun New York, NY

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Munday Is Optimistic. Opposed to this pessimistic outlook from the bank examiner Vic:-President Munday of the suspended bank breezed into his office at the bank. shut up his desk lid, pounded his fist and declared he is no coward and the bank will remain open for business without loss to anybody. President Lorimer made no statement and remained at his resid nce during the greater part of the day. As had b.en expected, the State Bank of Calumet, 10758 South Michigan avenue, one of the Lorimer-Munday string, went into The custody of a deputy of Bank Examiner Harkin, and took its place with the Broadway State, Illinois State and Ashland-Twelfth State in the list of "subsidiary" banks, which are susp nded pending completion of the examination of the La Salle Street Trust and Savings Bank. Soon after the Southwest Savings Bank, a private concern at 4010 West Twentysirth street, was closed through an involun'ary bankruptcy petition filed in the Federal Court. Louis J. Kfejel, the owner, had $4,000 in cash at the Lorimer-Munday instit. Non, and when he couldn't get it he had to shut up shop. Its deposits ran around $35,000.

6. June 14, 1914 The Washington Herald Washington, DC

Article from The Washington Herald, June 14, 1914

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SIX BANKS CLOSED IN LORIMER CRASH State Bank of Calumet and Southwest Savings Added to List of Affected Institutions. Chicago, June 13.-The State Bank of Calumet. affiliated with the La Salle Street Trust and Savings Bank-the Lorimer bank-which was closed yesterday. did not open its doors for business today and State Bank Examiner D. V. Harkin took charge. A receiver also was asked for the Southwest Savings Bank. This institution had a deposit of about $5,000 in the La Salle Street Bank. The failure of these two banks to open brought the number of Chicago banks closed during the last twenty-four hours following action by the State banking department to six. They were: The La Salle Street Trust and Savings Bank, the State Bank of Calumet, the Illinois State Bank, the Broadway State Bank. the Ashland-Twelfth State Bank, and the Southwest Savings Bank. Crowds of depositors besieged the doors of the La Salle Street Bank early today, struggling to get inside. Outside the Ashland-Twelfth State Bank and the Illinois State Bank crowds collected, shouting to the bank officials to open their doors and give them their savings.

7. June 14, 1914 The Times Dispatch Richmond, VA

Article from The Times Dispatch, June 14, 1914

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ANOTHER STATE BANK IS CLOSED BY EXAMINER Completes Chain of What Are Known as String of Lorimer-Munday Banks. LORIMER NEARS COLLAPSE A Sixth State Institution in Chicago Forced to Endure Run, and a Private Bank Goes Into Hands of Receiver. Chicago, June 13.-A fifth State bank was closed to-day by the State Bank Examiner in connection with the disclosure of conditions in the La Saile Street Trust and Savings Bank. This, the State Bank of Calumet. according to the examiner. completes the chain of what were known as the string of Lorimer-Munday banks in Chicago. In addition. another State bank was forced to endure a run, and a private bank went into the hands of a receiver. William Lorimer, president of the La Salle Street Bank, was said to be near a physical collapse from the strain of the developments of the last twentyfour hours. Examiners worked steadily to-day on books of the La Salle Street Bank, the Broadway State Bank, the Illinois State Bank and the Ashland-Twelfth Street Bank and the State Bank of Calumet.

8. June 16, 1914 The Sun New York, NY

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FIVE OF SIX LORIMER BANKS MAY REOPEN Were Dragged Down by Failure of the La Salle Street Institution. ONE SHUT TO PREVENT RUN Loan of $203,000 on Louisiana Swamp Lands Said to Be in the Tangle. CHICAGO, June 15.-The affairs of the collapsed La Salle Street Trust and Savings Bank were reported to be such by Chief Bank Examiner Daniel Harkin tonight that the examination of the books cannot be completed until Wednesday or Thursday, possibly later. The examiner had expected to complete his report today. Possible criminal action against officers of the bank and the matter of an application for a receiver, the bank examiner said, were things which the State Auditor would have to decide. "All I can say to-night," Mr. Harkin said, "is that we have found much more work for us to do than was at first anticlpated." The bank examiner said that the offer of Charles B. Munday, vice-president of the La Salle Bank and actively in charge of Its affairs before It was closed, to advance $1,000,000 to put the bank on its feet could not be considered at this time. None of the subsidiary banks will be opened at present, Mr. Harkin said, although one may be opened late in the week. "The La Salle Street Trust and Savings Bank is the only one that really failed," Mr. Harkin continued. "The other banks were caught only as they were involved in this bank. The Ashland-Twelfth State Bank, the State Bank of Calumet, the Illinois State Bank and the Broadway State Bank will be the first to be reopened. These Institutions apparently are sound. The only trouble is that their funds are tied up in the La Salle." The Marine Bank of Marine, III., sixth of the Munday institutions to be closed, was taken over by State bank examiners who have been Investigating its affairs since Friday. The directors issued a statement saying the institution was closed to prevent a run. Loans on Louisiana swamp lands amounting to $203,000 were reported today as part of the financial tangle beIng unravelled in the La Salle Street bank by Examiner Harkin. The loan was made on about 45,000 acres of undrained land held by the Louisiana Land Company. Ex-Governor Sanders is head of the company and the stationery of the company mentions his erstwhile title.

9. June 16, 1914 The Washington Herald Washington, DC

Article from The Washington Herald, June 16, 1914

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ANOTHER BANK CLOSED. Sixth ofMunday-Lorimer State Institutions "Blows Up." Chicago, June 15.-The sixth of the chain of Munday-Lorimer State banks was closed today. It was taken charge of by examiners from the State auditor's office this morning. The bank was the State Bank of Marine, capitalized at $25,000. The Barine Bank is the first of the string of down-State banks dominated by Munday and the La Salle Street Bank to close. The list of banks closed, following the crash of the La Salle Street Trust and Savings Bank, now stands: La Salle Street Trust and Savings Bank, AshlandTwelfth State Bank, State Bank of Illinois, Broadway State Bank, State Bank of Calumet, and the State Bank of Marine. In addition to these the Southwest Savings Bank, a private institution, of Chicago, has gone into the hands of a receiver. The officers of this bank has funds on deposit in the Munday-Lorimer Bank. and this made a receivership imperative.

10. June 17, 1914 Grant County Herald Lancaster, WI

Article from Grant County Herald, June 17, 1914

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PLANS TO PROBE BANK FAILURE Attorney General of Illinois to Get Report. TWO MORE BANKS CLOSED Calumet of the Lorimer-Munday String in Hands of State Examiner-Private Institution Fails to Open Its Doors. Chicago, June 15.-Attorney General Patrick J. Lucey will take a hand today in the Munday-Lorimer LaSalle Street bank failure. Representing the state of Illinois as its prosecutor-inchief, Mr. Lucey will accompany State Auditor Brady to Chicago to receive the report of Bank Examiner Daniel V. Harkin concerning the internal affairs of the collapsed institution. From Springfield it was learned that Attorney General Lucey will assume direct legal charge of the bank muddle, without recourse to the office of the states' attorney, although it was said to be the feeling that the state's attorney would not place any obstacle in the way of the state officers in any proceeding that might be undertaken. It is understood that the attorney general's authority may extend to the calling of a special grand jury, the presentation of such evidence as may be obtained, and the prosecution of any indictments which might be returned. Big Withdrawals Reported. A report from downstate was that the Len Small-Ed Curtis combination, with a bank at Grant Park, had withdrawn its deposit of $250,000 from Mr. Lorimer's bank since June 1. A story from Springfield during the evening was that the Marquette Insurance company, which had carried a balance in the LaSalle bank of approximately $40,000, had been fortunate enough a few days ago to get out of the bank all but a measurably small part of its deposits. The day at the LaSalle bank was marked by the presence of Vive-President Munday, who prophesied the early reopening of the institution with "no loss to anybody." State Bank of Calumet Closes. The State bank of Calumet, 10758 South Michigan avenue, one of the Lorimer-Munday string, went into the custody of a deputy of Bank Examiner Harkin, and took its place with the Broadway State, Illinois State and Ashland-Twelfth State in the list of "subsidiary" banks which are suspended pending completion of the examination of the LaSalle. W. C. Coleman, assistant examiner, announced that the Calumet bank was in good condition and would pay dollar for dollar. He said he expected it to resume business within a few days. Southwest Bank Shuts. An hour later the Southwest Savings bank, a private concern at 4010 West Twenty-sixth street, was closed through an involuntary bankruptcy petition filed in the federal court. Louis J. Krejel, the owner, had $4,000 in cash at the Lorimer-Munday institution, and when he couldn't get it he had to shut up shop. Its deposits ran around thirty-five thousand dollars. United States District Attorney James H. Wilkerson was directed by Federal Judge Carpenter to investigate thoroughly the conditions surounding the suspension of the LaSalle Street bank, with the purpose of conserving a deposit of $136,700 of trust funds in a bankruptcy proceeding against the Kellogg-Mackay company, secured only by a $50,000 bond issued by the Illinois Surety company. Bank Examiner Harkin, while entirely pessimistic regarding the LaSalle Street bank, continued to be hopeful concerning the chances of the smaller banks involved to reopen.

11. June 20, 1914 Lower Coast Gazette Pointe a La Hache, LA

Article from Lower Coast Gazette, June 20, 1914

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STATE BANK OF CALUMET han. DLED CHILDREN'S CHRISTMAS FUND. LORIMER NEAR A COLLAPSE Approximately $4,000,000 in Deposits Tied Up in Lorimer Institutions. Trouble Caused by Holding Certain Securities. Chicago.-A fifth state bank, the State Bank of Calumet, was closed by the state bank examiner in connection with the disclosure of conditions in the LaSalle Trust and Savings bank. According to the examiner, the State Bank of Calumet was the last in the chain of what were known as the string of Lorimer-Munday banks in Chicago. In addition, another state bank was forced to endure a run and a private bank went into the hands of a receiver. William Lorimer, president of the LaSalle Street bank, was said to be near a physical collapse from the strain of the developments of the last twenty-four hours. The examiners worked steadily on the books of the LaSalle Street bank, the Broadway State bank, the Illinois State bank, the Ashland-Twelfth State bank and the State Bank of Calumet. Approximately $4,000,000 of deposits are tied up in the institutions. Deposits in the State Bank of Calumet amounted to $144,924.93, accord. e ing to its latest report. Its capital S stock was $200,000 and its surplys $10,000. Scores of children were depositors in this institution. They had organized a "Christmas fund." n

12. June 26, 1914 Macon Beacon Macon, MS

Article from Macon Beacon, June 26, 1914

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LORIMER BANKS ARE CLOSED State Bank of Calumet Handled Children's Christmas Fund-Lorimer Near Collapse. Chicago.-A fifth state bank, the State Bank of Calumet, was closed by the state bank examiner in connection with the disclosure of conditions in the LaSalle Trust and Savings bank. According to the examiner, the State Bank of Calumet was the last in the chain of what were known as the string of Lorimer-Munday banks in Chicago. In addition, another state bank was forced to endure a run and a private bank went into the hands of a receiver. William Lorimer, president of the LaSalle Street bank, was said to be near a physical collapse from the strain of the developments of the last twenty-four hours. The examiners worked steadily on the books of the LaSalle Street bank, the Broadway State bank, the Illinois State bank, the Ashland-Twelfth State bank and the State Bank of Calumet. Approximately $4,000,000 of deposits are tied up in the institutions. Deposits in the State Bank of Calumet amounted to $144,924.93, according to its latest report. Its capital stock was $200,000 and its surplus $10,000. Scores of children were depositors in this institution. They had organized a "Christmas fund."

13. July 6, 1914 Evening Times-Republican Marshalltown, IA

Article from Evening Times-Republican, July 6, 1914

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want RECEIVERS FOR BANKS. Depositors Apply to Court For Relief From Present Uncertainty. Chicago, July 6.-Receivers were asked for three of the lesser of the Lorimer-Munday string of banks today. These banks clased with the failure of the parent bank, the LaSalle Street Trust and Savings Bank. They are the State Bank of Calumet, the IIlinois State Bank of Chicago, and the Ashland-Twelfth Street State Bank. The application was made by William Freedman, attorney for certain depostiors. It is alleged that no one is now in possession of the properties. It is charged that $75,000 of city deposits allotted to the Calumet bank and smaller city deposits allotted to the other two branch banks never reached them, but were deposited in the LaSalle street bank. It is further alleged that certain stockholders in the banks never paid for their stock. Asessment of stockholders under. the double liability act is requested.

14. July 6, 1914 Las Vegas Optic Las Vegas, NM

Article from Las Vegas Optic, July 6, 1914

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RECEIVERS FOR THREE BANKS CITY DEPOSITS INTENDED FOR SMALL INSTITUTIONS DIVERTED TO LORIMER'S OWN Chicago, July 6.-Receivers were asked for three of the lesser LorimerMunday string of banks today. These banks closed with the failure of the parent bank, the LaSalle Street Trust and Savings bank. They are the State Bank of Calumet, the Illinois State Bank of Chicago, and the Ashland Twelfth State Bank. The application was made by William Freedman, attorney for certain depositors. It is alleged that no one is now in possession of the properties. It is charged that $75,000 of city deposits allotted to the Calumet bank and smaller city deposits allotted to the other two branch banks never reached them but were deposited in the LaSalle Street bank. It is further alleged that certain stockholders in the banks never paid for their stock. Assessment of stockholders under the SYSTES double liability act is requested.

15. July 6, 1914 Evening Star Washington, DC

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REQUEST FOR RECEIVERS. Depositors of Three Lorimer-Munday Banks Appeal to Court. CHICAGO, July 6.-Receivers were asked for three of the Lorimer-Munday string of small banks today. These banks closed with the failure of the parent bank -the Lasalle Street Trust and Savings Bank. They are the State Bank of Calumet, the Illinois State Bank of Chicago and the Ashland Twelfth State Bank. The application to court was made by William Freedman, attorney for certain depositors. It is alleged that no one is now in possession of the properties. It is charged that $75,000 of city deposits allotted to the Calumet Bank and smaller city deposits allotted to the two other branch banks, never reached them, and were, in fact. deposited in the Lasalle Street Bank. It is further alleged that certain stockholders in the banks never paid for their stock. Assessment of stockholders under the double liability act is requested.

16. July 7, 1914 Ottumwa Tri-Weekly Courier Ottumwa, IA

Article from Ottumwa Tri-Weekly Courier, July 7, 1914

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ASK FOR BANK RECEIVERS Want Men Appointed to Take Charge of Three of the Lesser in Munday String. Chicago, July 6.-Receivers were asked for three of the lesser of Lorimer-Munday string of banks today. These banks closed with the failure of the present bank, the LaSalle Street Trust and Savings bank. They are: The State Bank of Calumet, the Illinois State bank of Chicago, and the Ashland-Twelfth State bank. The application was made by William Freedman, attorney for certain depositors. It is alleged that no one is now in possession of the properties. It is charged that $75,000 of city deposits allotted to the Calumet bank and smaller city deposits allotted to the other two branch banks, never reached them, were in fact deposited in the LaSalle Street bank. It is further alleged that certain stockholders in the banks never paid for their stock. Assessment of stockholders under the double liability act is re quested.

17. July 7, 1914 The Pensacola Journal Pensacola, FL

Article from The Pensacola Journal, July 7, 1914

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RECEIVERS FOR LORIMER BANKS Chicago, July 6.-Receivers were asked for three of the Lorimer-Manday string of small banks today. These banks closed with the failure of the parent bank, the LaSalle Street Trust and Savings Bank. They are: The state bank of Calumet, the Ilnois State Bank of Chicago and the Ashland-Twelfth State Bank. The application was made by William R. Freedman, attorney for certain depositors. It is charged that $75,000 of city deposits allotted to the Calumet bank, and smaller city deposits allotted to the other two branch banks, never reached them and were in fact deposited in the La Saltle street bank. It is further alleged that certain stockholders in the banks never paid for their stock. Assessment of stockholders under the double liability act IS requested.

18. July 7, 1914 The Sun New York, NY

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Ask Receivers for 3 Lorimer Banks CHICAGO, July 6.-Applications were made to-day for the appointment of receivers for the State Bank of Calumet. the Illinois State Bank of Chicago and the Ashland-Twelfth State Bank, three smaller institutions of the Lorimer-Munday string. The applications were made by counsel for groups of depositors. All three banks closed at the time of the failure of the La Salle Street Trust and Savings Bank, the parent bank. The petitioners allege that city deposits allotted to the three banks never reached them, but were deposited in the La Salle Street Bank, and that certain of the stockholders in the institutions never paid for their stock.

19. July 7, 1914 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, July 7, 1914

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WANT RECEIVERS FOR BANKS. Depositors Take Action Against Lorimer-Munday Institutions. Chicago, July 7.-Receivers were named for three of the LorimerMunday string of small banks yesterday. These banks closed with the failure of the parent bank, the La Salle Street Trust and Savings Bank. They are the State Bank of Calumet, the Illinois State Bank of Chicago and the Ashland-Twelfth State Bank. The application was made by William Freedman, attorney for certain depositors. It is alleged that no one is now in possession of the properties. It is charged that $75,000 of city deposits alloted to the Calumet Bank and smaller city deposits allotted to the other two branch banks never reached them and were in fact deposited in the La Salle Street Bank. It is further alleged that certain stockholders in the banks never paid for their stock. Assessment of stockholders under the double liability act is requested.

20. July 7, 1914 Daily Capital Journal Salem, OR

Article from Daily Capital Journal, July 7, 1914

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At Chicago.-Receivers were asked for the State Bank of Calumet, Illinois State Bank of Chicago and Ashland Twelfth State bank, Lorimer institutions, which closed when the parent concern failed.

21. July 9, 1914 The Tabor Independent Tabor, SD

Article from The Tabor Independent, July 9, 1914

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TO NAME RECEIVERS FOR LORIMER BANKS Three Subsidiaries of La Salle Street Institution Hopelessly Entangled. Chicago, July 7.-Receivers were asked for three of the Lesser of the Lerimer-Munday string of banks today. These banks closed with the failure of the parent bank the La Salle Street Trust & Savings bank. They are the State Bank of Chlumet, the Illinois State bank, of Chicago, and the Ashland-Twelfth State bank. The application as made by William Freedman, attorney for certain depositors. It is alleged that no one is now in possession of the properties. It is charged that $75,000 of city deposits alloted to the Calumet bank and smaller city deposits alloted to the two other branch banks never reached them, but were deposited in the La Salle street bank. It is further alleged that certain stockholders in the banks never paid for their stock. Assessment of stockholders under the double liability act is requested.