Toombs & Daily Company

Episode Information

Episode UID: 6628740691544
Episode Type: Suspension → Closure
Bank Type: trust
Bank ID: 662874069 hash
Start Date: August 16, 1928
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest: f71ae1cb1f742ee3

Response Measures

None

Description

The bank was an investment house placed in receivership following the disappearance of assets in a related insurance company.

Events (2)

1. August 16, 1928 Receivership

Newspaper Excerpt: appointed the Foreman Trust and Savings Bank receiver for Toombs and Daily company
Source: newspapers

2. August 16, 1928 Suspension

Cause: Bank Specific Adverse Info
Cause Details: President Roy C. Toombs was charged with responsibility for the disappearance of $3,500,000 in assets of the International Life Insurance company.
Newspaper Excerpt: Judge William N. Gemmill of Superior Court Chicago appointed the Foreman Trust and Savings Bank receiver for Toombs and Daily company
Source: newspapers

Newspaper Articles (1)

1. August 16, 1928 The Stephenson Farmer Lena, IL

Article from The Stephenson Farmer, August 16, 1928

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Article Text

TOOMBS DAILY COMPANY PUT IN RECEIVERSHIP Judge William N. Gemmill of Superior Court Chicago appointed the Foreman Trust and Savings Bank receiver for Toombs and Daily company, investment house headed by Roy C. Toombs, who recently was charged with responsibility in connection with the disappearance $3,500,000 in assets of the International Life Insurance company of St. Louis, of which Toombs also is president. Appointment of receiver was asked by Clarence A. Stelle, vice president of Toombs and Daily, in petition charging Toombs with frauds which he said resulted depletion and exhaustion of the assets of Toombs and Standard.