Morton Grove Trust & Savings Bank

Episode Information

Episode UID: 70174471623
Episode Type: Suspension → Closure
Bank Type: trust
Bank ID: 7017447 routing
Routing Number: 70-1744
Start Date: March 31, 1935
Location: Morton Grove, Illinois (42.041, -87.783)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 9b47a0f33b93b93c

Response Measures

None

Events (1)

1. March 31, 1935 Receivership

Newspaper Excerpt: Morton Grove Trust and Savings. MORTON GROVE TRUST AND SAVINGS—$176,000 receipts, little recently. Paid $59,500 prior claims and $87,600, or 37 per cent, to depositors. Most of $181,700 remaining assets have little value, and final returns are not expected to exceed 50 per cent total. Costs $27,500. Losses so far $53,000.
Source: newspapers

Newspaper Articles (1)

1. May 8, 1935 Chicago Tribune Chicago, IL

Article Text

20 Closed State Banks Make No Payments in 1st Quarter No further repayments were made in the first three months of the year to depositors of the 20 closed banks for which figures as of March 31 were reported yesterday by State Auditor Edward J. Barrett. Noticeable progress in liquidation was cent more for depositors, although none for some months. Morton Grove Trust and Savings. MORTON GROVE TRUST AND SAVINGS—$176,000 receipts, little recently. Paid $59,500 prior claims and $87,600, or 37 per cent, to depositors. Most of $181,700 remaining assets have little value, and final returns are not expected to exceed 50 per cent total. Costs $27,500. Losses so far $53,000.

Episode Information

Metadata

Response Measures

Events (1)

Newspaper Articles (1)

Article Text

Bank runs are almost always and everywhere a deterioration of bank fundamentals.

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