Ogden National Bank (Chicago, IL)

Episode Information

Episode UID
1248001582
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
124800 national
Charter Number
12480
Start Date
October 1, 1931
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
69afa05c0e236185

Response Measures

None

Receivership Details

Depositor recovery rate
43.0%
Date receivership started
1931-10-01
Date receivership terminated
1938-04-26
Share of assets assessed as good
22.2%
Share of assets assessed as doubtful
51.8%
Share of assets assessed as worthless
26.0%

Description

Known receivership date used as authoritative; articles (Feb 1932) discuss depositors and reorganization after the bank's closing.

Events (5)

1. December 21, 1923 Chartered
Source
historical_nic
2. October 1, 1931 Receivership
Source
historical_nic
3. October 1, 1931 Receivership
Newspaper Excerpt
closed Ogden National bank of Chicago to the office of John W. Pole, controller ... They sought information regarding the handling of the bank's assets.
Source
newspapers
4. February 28, 1932 Other
Newspaper Excerpt
mass meeting of the closed Ogden Avenue National bank will be held tomorrow ... Members of the committee appointed to seek aid for depositors will report.
Source
newspapers
5. * Suspension
Cause
Government Action
Cause Details
State auditor and receivers involved after the bank's closing; bank remained closed and a receiver was handling assets.
Newspaper Excerpt
closed Ogden National bank of Chicago
Source
newspapers

Newspaper Articles (2)

Article Text

AUDITOR NAMES RECEIVERS FOR 4 CLOSED BANKS State Institutions Get No U. S. Loans. State Auditor Oscar Nelson yesterday the of and for the receivers of four closed banks as fol. lows: State Bank of Niles, closed on Feb. 6: H. E. & Weinfeld. attorneys Morgan Park Trust and Savings bank, Longwood drive 111th closed on Jan. 25; Robert C. McManus, receiver: Ungaro & Sherattorneys. State bank, 11106 Michiavenue, closed on 29; Adolph Helquist, McFarland, Mor First State bank of Barrington, closed William Busse Jr., receiver; Edwin D. Lawlor, attorney Can't Get U. S. Loans. The auditor's office was informed that closed not obtain loans from the Fed eral albanks may This is he Illinois laws not the receiver bank to pledge its assets for loan. as At. torney Oscar Carlstrom recently an opinion that directors of building and associations could pledge for a loan the auditor asked him for an opinion regarding closed banks unfreezing their with help as bank are planning to do. United States Senator Otis F. Glenn ing the depositors of the closed Ogden National bank of Chicago to the office of John W. Pole, controller of the in Washington yes terday. They sought information regarding the handling of the bank's assets. Plan to Reopen Bank. Joseph McNeill, of a the Park bank, said efforts were being made to and reopen the bank. given by the auditor's office that in the be petition in bankruptcy was filed the federal court at Danville by Charles H. Meyer who gave Urbana, III., as his home and listed as one of his debts for closed Lake View State bank in Chicago. Meyer, former chief examiner for the Chicago Clearing House asso ciation, than $400 000 from banks In his petition he 227 and of His wife filed petition listing of and assets of $90 Delay Case Against Teller. A. charge of against Victor E. Olson, 48 years old, 104 West street, head teller of the Wiersema State bank, was continued yesterday when he was arraigned Judge James F. Fardy in the Felony Assistant State's Attorney Wilkie Ham told the court auditors were still examining the bank and that so far $15,000 has been Olson, who, he lost It in the stock market. Circuit Judge Michael Feinberg obtained from Carl Ring, 4909 North St. Louis avenue, meat dealer, that he had given false about his indebtedness to the closed South Side Savings and Trust 4659 Cottage Grove avenue. Ring said he was without means to his and his brother, the this was untrue, that Carl had all his his and Louis When Ring and his agreed to turn his and signed over to the of the to which he Judge Feinberg leased him after night in


Article Text

$284,252 PAID SHERIDAN BANK IN STOCK SUIT oney to Be Distributed to A for representing a on in per of the closed Savings bank to the receiver Robert The is to be among depositors as The payment settled ought by the depositors' committee in The The hich the former Foreman and the Fidelity corporastock of the A Dummy Corporation. The corporation was by the dummy the was denied by and groups. Attorthe said the made Mullins is receiver for Logan C. McManus was to the of the Davings and 111th which January The of $55,000 of Reorganization Planned. since been in reopeh the bank resident urged to the and in He from after 25 years of the staff of Swift Co. His salary as receiver is to be J. Kahout real estate dealer, named State bank, by State Auditor was for the The bank closed last Feb. Depositors to Meet. mass meeting of of the closed Ogden Avenue National bank will be held tomorrow in the church, 1908 Millard avenue. Members of the comappointed to to seek aid for depositors will report. Directors of the United Depositors are to meet tomorrow to elect officers. The place of the has not yet been set.