4727. West Central State Bank (Chicago, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 21, 1931
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
ee5f1096

Response Measures

None

Description

All articles (Oct 21–28, 1931) refer to the institution as defunct and mention receivers for the bank. No article describes depositors running the bank. The failure appears tied to bad/unsecured loans (e.g., $16,000–$17,000 to Terry Druggan) and the appointment of a receiver, so classification is suspension leading to permanent closure/receivership.

Events (2)

1. October 21, 1931 Receivership
Newspaper Excerpt
Receivers for the defunct West Central State bank had hailed Dressel into court... The furnishings of Druggan's apartment had been seized by the receiver for the defunct West Central State bank where he owed $17,000 in unsecured notes.
Source
newspapers
2. October 21, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank is described as defunct with receivers appointed; substantial unsecured loan(s) to Terry Druggan ($16,000–$17,000) cited as adverse asset exposure.
Newspaper Excerpt
Receivers for the bank had hailed Dressel into court in an effort to discover possible hidden assets. The former bank president testified that the defunct institution had an outstanding loan to Druggan of $16,000 and this loan is unsecured.
Source
newspapers

Newspaper Articles (7)

Article from The Courier, October 21, 1931

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Article Text

Revenue Men Hunt Druggan Breweries Bared by Banker Chicago. Prohibition and internal revenue officials announced Tuesday they would immediately launch drive against new beer properties of Terry Druggan, liquor baron of Chicago's The hitherto unknown. were disclosed in the testiof Andrew Dressel. formerly head of the defunct West Central State bank Receivers for the bank had haled Dressel into an effort to discover possible hidden as- The former bank president testified that the defunct institution had an outstanding loan to Druggan of $16.000 and this loan is unsecured. Questioned regarding Druggan's property. Dressel declared the baron is operating breweries. Liens were placed on Druggan's several months ago to income tax delinquency. but the realized only small portion of its claims in the sales.


Article from Mid-West Progressive, October 21, 1931

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Claim Will Kellogg Pact By JAMES YOUNG governorment of Japan fully recognizes its obligations under the Kellogg pact for the outlawry of war and has no intention of resorting to armed conflict for solution of its differences with China in Manchuria, it was stated tonight in Japan's reply to the identic notes sent to Tokyo by the Kellogg pact signatories at the suggestion of the League of Nations council. The Japanese revly, prepared by Foreign Minister Baron Shidehara, is to be presented to the various embassies here at 11 a. m., tomorrow. by another note from the Chinese government urging immediate action- second received within the space of League Nations council strove today reach some sort of permitting settlement of the Manchurian dispute. China's second note, handed to Aristide Briand, French foreign minister and president of the council, by Alfred Sze, chief of the Chinese delegation, declared the situation had reached "crisis which must be settled without further delay." CHICAGO-(INS) Prohibition and Internal Revenue officials announced today they would immediately launch a drive against new beer properties of Terry Druggan, liquor baron of Chicago's west side. The beer plants, hitherto unknown, were disclosed in the testimony of Andrew Dressel, formerly head of the defunct West Central State bank. Receivers for the bank had hailed Dressel into court in an effort, to discover possible hidden assets.


Article from Waukegan News-Sun, October 21, 1931

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BRAUCHER Bowling Scores J-M LEAGUE 10-16-31 in his heart right now he believes that merely suffered sudden run hard and that he hit both of those gentlemen right back into the InternationLeague given more chance. Martin has confidence that has no element boastfulness He quietly stubborn man. Mrs. Martin was "set ways.' One look the chap reveals that. He would be pretty hard gee to WORDS WITH COCHRANE His repartee Cochrane was of wit. During fifth game at Philadelphia, the Mick asked him when he was going to start being himself and popping up. Pepper's astonishing reply was: just out just as much fog as don't think Pepper was reflecting Cochrane's poor work in the serThe Pepper looks upon all men his equals. He might merely with Mickey, who seemed to groping his way around during the different from the of other series as the sun from the moon. Pepper's that he was in fog, too, seemed to me be erous gesture comrade who had lost his way. Stringwell selman, 43, an 188 129 157 ter and secretary of the Illinois Cunningham 132 formerly was editor of the Matson LaSalle, Tribune. Mayfield Meta the widow, testified the inquest that had 809 tended get divorce. She said Team her husband had not been home for Mohr 136 151 Westra Hasselman's body found in the H. Ferrey 141 417 apartment of Mrs. Florence Mordivorcee, the north side. Pfeiffer 170 His head was inside the oven of the gas stove, all the jets of which were 768 779 744 Ashland Mrs. Morgan testified Hasselman Brooks 155 163 180 visited her early yesterday morning Humphrey 123 while intoxicated. At Jacksen 189 115 ordered him to and never Jespersen turn. retired for the night, Blind 163 163 leaving him couch. She said on she the when she 784 715 685 2184 arose yesterday Sweet Shop The gas from the oven failed McEwen 151 kill which was in 169 435 cage Nyghsonger 213 144 138 only 15 feet from Hasselman. Pushee 137 George Beglin, janitor of Mrs. 140 Mitchell 126 152 Morgan's the jury he 179 Stimes 143 had received complaint gas 445 was escaping traced the fumes 734 the divorcee's apartment. He 706 793 Sabine knocked and answered. Market H. "Wait minute," the woman said Herman 170 149 136 455 first, according to Beglin. Then she Sabine 112 131 153 said, all right now." Dumesic 142 114 At that time, Mrs. Beglin inPhilyaw 126 formed Deputy Coroner E. Ingles K. Lichty 141 she trying to bring Hasselman back consciousness. Failing, she 691 723 638 she left for her work. BUSINESS MEN'S LEAGUE Wankegan Clean Eb Rindy DRUGGAN'S 145 Geo. McCullen 116 169 John Hurley 165 143 Iner Moberg PLANTS 169 171 155 Jas Poratunsky 167 190 514 762 764 CHICAGO. Oct. 863 2389 Mackey Jewelers hibition internal revenue offiClinton 149 cials today they would Taylor 157 immediately launch drive against Engels beer properties of Terry Drug180 165 629 LaCount gan, liquor baron of Chicago's west SCHEDULE N. Durbin 155 180 623 Brown 187 202 544 Robarge The beer plants, hitherto unknown. Gavin 620 Team were disclosed in the testimony 828 821 800 2449 Shi-Roof Yodan Andrew Dressel, formerly head Post Office the defunct West Central State Heiting 619 Narva 166 203 170 541 bank. Receivers for the bank had 600 Graham 135 163 479 Packing Adamski hailed Dressel into court from Packing Neuhs 115 167 136 418 Magnesia won fort to discover possible hidden from Mag- Dilger 170 186 Office & won sets. Woodward 190 214 569 nesia The former bank president testiindividual won from Office High game (Watch) fied that the defunct institution had Three tied for 1st 776 933 2612 Adamski, loan to Druggan 1st individual Yodan, place and three for second place. $16,000 and this loan is unsecured high game, hot come Penca 160 242. you don't think getting Questioned Druggan's Vickery 149 132 2nd high individual game, down next Friday night. property, Dressel declared Clark 127 154 238. baron operating four breweries. IMMANUEL LUTHERAN LEAGUE 190 153 186 1st high individual 3 games, Hamp- Liens placed Druggan's Browns Burris 156 159 452 property months ago to satShi-Roof W. Hollstein 170 125 449 1st high team one game, isfy income tax delinquency, but the Shorman 144 768 758 2318 realized only small 152 portion of its claims in the sales. 1st high team games, Chapman 130 Wirtanen 136 485 2916. Fieldlar 130 178 Klemola 146 140 MAN 105 DIES Individual Standings Engler Hagstrom 145 CLEVELAND. Oct. Heiting 706 Kaster 171 149 Cleveland's oldest citizen. Patrick Durbin, N 192.8 729 Hett 196 165 Vizzard, will be buried here tomorrow. Yodan 190.2 Maroons 113 447 He died at the age of 105. He voted Gavin 190.2 Otto 176 859 783 for Lincoln twice. Hayman Lemp 102 146 141 Rudy Furnaces Harding Kutter O'Connors Deibler 188.5 Shorman Vievcher 159 Britton 187.3 Hollstein 154 148 184 Borregard 182 Richardson Nelson 171 164 Adamski 185.6 727 637 153 193 150 495 Hampson 183.2 BENTON LEAGUE Jacobson Norris Market 793 853 948 2593 Waca 182.2 fighting heart 180.5 Mervell Buckles timer was cocking his gun as De Woody Durbin 178.4 ROCKNE Stanley Cofall faded back and shot Norris 176 Merlock 177.5 pass. It clicked! Bergman Hass 160 raced in back of Oliphant, Newell Durbin, M GAMES ON NOV. nabbed the ball and was stepthe 50-yard line as the 778 776 Robarge braked the finish. Leader Store Professional Cards Lampinen 174.5 Bergman sprinted with NEW YORK, Oct. 21. 173.3 Sam 504 Landers aroused the signifi- halves Tstinic 172.2 his blunder, in pursuit. Too every college football game will Nelson Dan Mercury couldn't have caught November tribute Browne 171.3 135 Bergman on that play. That spring Knute Rockne, Coach "Chick" MeeChub 176 Stimes equalled the world han of New York University DEPENDABLE EYESIGHT Harju 170.9 100-yard dash nounced today. Meehan chairman 784 790 Mills the honestly think could make of coaches committee for obNorris Service Accurately Designed Meisenheimer 169.5 of his football shoes. He servance Rockne Day. McKim 125 460 Eyeglasses Rehor 169 the ball between the goal Spectators at the games will Prompt and Efficient Whitten 169 in the Heyer given chance contribute the Service 167.8 Whitten 117 finish ever saw to any fund for the Rockne memorial field 157.5 Guy 138 Waukegan Optical Co Kittell house at Notre Dame game. Fletcher 150 311 Washington 150 Washington Marinsik Charley Peters, sheriff of Sarpy Rosenberg, Opt. D. graduates coach- Roll 843 college county, another athlete Maj. school athletics Marshall comeback. Wrestling Appointment country. Britton Whitten 144 116 line


Article from JG-TC: Journal Gazette and Times-Courier, October 21, 1931

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DRUGGAN BREWER Chicago, Oct. Mon and internal revenue officials announced today they would immediately launch drive against new beer properties of Terry Druggan, baron of Chicago's West Side. The beer plants, unknown, were disclosed in the testimony Andrew Dressel, formerly head the defunct West Central State Bank. Receivers for the bank hailed Dressel into court in an effort to discover possible hidden The former bank president testifled that the defunct institution had outstanding loan to Druggan of $16,000. and this loan unsecured. Questioned regarding Druggan's property, Dressel said the beer baron operating four breweries. Liens placed Druggan's property several months ago to satisfy income tax but the govonly small porof its claims in the sales.


Article from Chronicle Tribune, October 22, 1931

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SEEK DRUGGANS FOUR BREWERIES CHICAGO, Oct. 22. Prohibition and internal revenue officials announced today they would immediately launch a drive against new beer properties of Terry Druggan liquor baron of Chicago's West Side The beer plants, hitherto unknown were disclosed in the testimony of Andrew Dressel, formerly head of the defunct West Central State bank. Receivers for the bank had hailed Dressel into court in an effort to discover possible hidden assets The former bank president testified that the defunct institution had an outstanding loan to Druggan of $16,000 and this loan is unsecured Questioned regarding Druggan's propertly, Dressel the beer barion is operating four breweries Liens were placed on Druggan's property several months ago to satinfy income tax delinquency, but the government realized only small portion of its claims in the sales.


Article from Clinton Daily Journal and Public, October 22, 1931

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Druggan Beer Flats To Be Investigated Chicago, Oct. 21-(INS)-Prohibition and internal revenue officials announced today they would immediately launch a drive against new beer properties of Terry Druggan, liquor baron on Chicago's west side. The beer plants, hitherto unknown, were disclosed in the testimony of Andrew Dressel. formerly head of the defunet West Central State Bank. Receivers for the bank bad hailed Dressel into court in an effort to discover possible hidden assets. The former bank president testified that the defunct institution had an outstanding loan to Druggan of $16,000 and this loan is unsecured. Questioned regarding Druggan's property, Dressel declared the beer baron is operating four brewerles. Liens were placed on Druggan's property several months ago to satisfy income tax delinquency, but the government realized only a small portion of its claims in the sales.


Article from The Waterbury Democrat, October 28, 1931

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BEER BARON OF CHICAGO ASKED FOR HIS BOOKS Chicago, Oct 28-(UP)-Terry Druggan, the most scholarly of Chicago's beer barons, has been greatly relieved by a decision of Judge Michael J. Feinberg which allows him to detain his librarysets of Shakespeare and Dickens, and "a bitof popular fiction.." The furnishings of Druggan's apartment had been seized by the receiver for the defunct West Central State bank where he owed $17,000 in unsecured notes. Druggan told the court he wanted his books. "They're just a man's personal books," he said. "A few sets of the classics and a bit of popular fiction." The court understood his feeling and exempted the Druggan library from seizure.