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BANK STEINHAUS Court For Right To Make Settlement On Debt Owed Waukegan National. The Waukegan National bank, through Melvin B. Ericson, today Circuit Judge Ralph Dady for the right to make tlement with Steinhaus, of Waukegan, and his Judge Dady consented to the composition. Steinhaus, according the order drawn Attorney Bairstow, owed the Waukegan National bank at the time of closing $3,820.30. addition he owed this bank, the First National, the Waukegan State and the Lake County State bank North Chicago, total $10,337.05. These were these banks after the Security Savings failed in 1926, understood, and were process liquidation this first bank fail. The notes were secured by the Tea Sweet Shop on North Genesee street that burned more than ago for loss. The net insurwas $5,610. Steinhaus, on the other hand, has life with surrender of $1,214.55 which he elects turn over banks along fire insurance money for total $6,825. This. according to Bairstow, would give the National $2,522.34 for its view of the he that could not pay any more than this.