German Bank - Freeport, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 20, 1907
Location: Freeport, Illinois (42.297, -89.621)

Metadata

Model: gpt-5-mini
Short Digest: 9165ec84

Response Measures

None

Description

Article (Nov 20, 1907) reports the German Bank of Freeport in receivership with its assets sold to the Royal (Law Brothers) and money turned over to the receiver; indicates permanent closure and settlement of claimants. No explicit run described in the provided article.

Events (1)

1. November 20, 1907 Receivership

Newspaper Excerpt: The receivership of the German of Freeport is nearing its end, the sale of its assets to the Royal being completed today... Law Brothers of the Royal turned over to the Chicago Title and Trust company certified checks for $2,150,000, receiving therefor assets of the German scheduled at more than that sum.
Source: newspapers

Newspaper Articles (1)

1. November 20, 1907 Albuquerque Citizen Albuquerque, NM

Article from Albuquerque Citizen, November 20, 1907

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Article Text

WILL PAY POLICIES AFTER YEAR'S DELAY Chicago, Nov. 20.-The receivership of the German of Freeport is nearing its end, the sale of its assets to the Royal being completed today, on the anniversary of the reinsurance of the German in the Royal. Law Brothers of the Royal turned over to the Chicago Title and Trust company certified checks for $2,150,000, receiving therefor assets of the German scheduled at more than that sum. The money turned over to the receiver, with the 30 per cent already paid, will allow the payment of at least 58 per cent to the claimants of the German.