gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5d7143dad24ef5ba
Response Measures
None
Events (2)
1.September 22, 1916Suspension
Cause
Bank Specific Adverse Info
Cause Details
Creditors filed involuntary petition citing assets well below liabilities and the bank closed its doors.
Newspaper Excerpt
Creditors of the Industrial Savings Bank...caused to be filed in federal court today an involuntary petition for the appointment of a receiver for the bank.
Source
newspapers
2.September 23, 1916Receivership
Newspaper Excerpt
Receivers for the Industrial Savings bank, which closed its doors yesterday, today continued the work of assembling the assets of the institution.
Source
newspapers
Newspaper Articles (12)
1.September 22, 1916The Richmond Palladium and Sun-TelegramRichmond, IN
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Article Text
CREDITORS SUE SAVINGS BANK CHICAGO, Sept. 22.-Creditors of the Industrial Savings Bank, an old time private institution caused to be filed in Mederal court today an involuntary petition for the appointment of a receiver for the bank. The institution's liabilities are said to total about $1,000,000 with the assets at approximately half that amount. The attorneys declared the failure would reach $500,000. The failure of the bank is the ninth that has hit depositors in private institutions here in the last four weeks.
2.September 22, 1916The Topeka State JournalTopeka, KS
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Article Text
MORE BANKS FAIL Ten Now on List of Chicago Financial Crashes in Month. Chicago, Sept. 22.-Another private bank closed today when the Industrial Savings bank filed an involuntary petition asking for a receiver. Liabilities are placed at $800,000 and assets at $600,000 in the petition. Tenth to Close Doors. Chicago, Sept. 22.-The private bank of Campbell, Dupio & Company, the tenth to fail in Chicago within the last month, closed its doors today.
3.September 22, 1916South Bend News-TimesSouth Bend, IN
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Article Text
ANOTHER CHICAGO BANK IS CLOSED Attorneys Declare the Failure will Reach Half a Million Dollars. International News Service: CHICAGO, Sept. 22.-Creditors of the Industrial Savings bank, an old time private institution, caused to be filed in federal court today an involuntary petition for the appointment of a receiver for the bank. The institution's liabilities are said to total about $1,000,000, with the assets approximately half that amount. The attorneys declared the failure would reach half a million dollars. The failure of the bank is the ninth catastrophe that has hit depositors in private institutions here in the last four weeks. The bank has been under the management of Harry Dubia, prominent in club and social circles. Several big depositors received word that the bank would not open this morning and they hurried to file the receivership petition so that the law would close the bank and automatically shut off a run of panic-stricken depositors, most of them Poles, Slavs, Bohemians and Irish.
4.September 22, 1916The Day BookChicago, IL
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Article Text
INDUSTRIAL SAVINGS BANK GOES ON THE ROCKS Another private bank went on the rocks today when the Industrial Savings bank, 2007 Blue Island av., of which Harry Dubia is sole owner, closed its doors. Deposits are estimated between $600,000 and $800,000 and the liabilities may total over $1,000,000. Dubia is a man of high position in both business and social circles. He is a member of the Chicago Athletic ass'n and the Westward Ho Golf club. His home is at 1302 Ritchie ct. Dubia's attorney, J. S. Hummer, blames the panicky conditions created by stories in Chicago daily papers for the Dubia bank closing its doors. —0NEW YORK STOCKS. - Steel in new high. General list up. Trading active. WEATHER FORECAST Partly cloudy tonight and Saturday; continued cool; fresh northwest winds. Temperature Thursday: High, 72; low, 52.
5.September 23, 1916Arizona RepublicanPhoenix, AZ
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Article Text
Failure of Many Private Banks Is Causing Alarm [Republican A. P. Leased Wire] CHICAGO, Sept. 22. - Spread of alarm over the failure of private banks in Chicago tonight, prompted States Attorney Hoyne, whose announcement of an investigation was followed by the bank crashes, to issue a statement declaring his office up to this time has not closed or ordered to be closed a single private bank. "This bank investigation was not initiated by me but by the complaints of the dépositors," Hoyne declared. "I am not conducting this investigation of any bank or institution for the protection of depositors." Chicago's tenth private bank within a month closed today. It was the Industrial Savings bank, headed by Harry A. Dubia, president. which has deposits of approximately $800.000. Dubia declared it is solvent. Three creditors filed a petition in bankruptcy against the institution. When the vault of the Dubia bank was opened tonight by agents for the receiver cash and negotiable checks amounting only to $20,180 were found. A deficit of $62,368.58 has been found by investigation of the Paisley chain of private banks, three in number, which closed yesterday, the state's attorney announced.
6.September 23, 1916Rock Island ArgusRock Island, IL
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Article Text
GETTING AT ASSETS OF A PRIVATE BANK Chicago, Sept. 23.-Receivers for the Industrial Savings bank, which closed its doors yesterday. today continued the work of assembling the assets of the institution. According to the petition for a receiver filed by creditors of the bank, the liabilities are $800,000 and the assets listed at $900,000 have depreciated to $600,000. Attorneys for the bank declare it will pay dollar for dollar to creditors. It was the sixth private bank to close it doors during the present week in Chicago and the 50th in the last four years.
7.September 26, 1916The Guthrie Daily LeaderGuthrie, OK
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Article Text
BANK PROBE ORDERED Chicago, Sept 26-The state's attorney today announced that the grand jury will be asked to investigate the closing of three banks known as the "Paisley chain" and of the Industrial Savings bank, controlled by Harry A Dubia. Attorneys for the receiver of the Dubia bank said the assets were approximately $1.210,000 and the liabilities only $635.000.
8.September 27, 1916The Watchman and SouthronSumter, SC
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Article Text
CHICAGO BANK FAILS. Ninth Bank to Blow up in Four Weeks. Chicago, Sept. 22.-Creditors of the Industrial Savings Bank, a private instituion, have filed a petition for a receiver. The labilities are a million dollars with agets of only a half million. This is the ninth bank catastrophe in four weeks.
9.September 28, 1916The Yale ExpositorYale, MI
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Article Text
Creditors of the Industrial Savings bank. an old-time private institution of Chicago, caused to be filed in fed eral court an involuntury petition for the appointment of u receiver. The institution's Habilities total about $1.000,000, with ussets half that amount.
10.September 28, 1916The Manchester JournalManchester, Bennington, VT
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Article Text
Bank Receiver Asked For Chicago, Sept. 24.-Creditors of the Industrial Savings bank caused to be filed an involuntary petition for the appointment of a receiver. The institution's liabilities are said to total about $1,000,000.
BIG SHORTAGE IN BANK. Assets Of Chicago Private Concern Show $650,000 Shrinkage. Chicago.-A shrinkage of $650,000 in the assets of the Industrial Savings Bank, a private concern, which recently went into liquidation, was shown at the examination of the affairs of the bank before Referee Eastman. Assets had been estimated at $1,000,000, but a two-week search by the receiver, it was said, failed to disclose more than $350,000.
12.October 14, 1916Middletown TranscriptMiddletown, DE
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Article Text
BIG SHORTAGE IN BANK. Assets Of Chicago Private Concern Show $650,000 Shrinkage. Chicago.-A shrinkage of $650,000 in the assets of the Industrial Savings Bank, a private concern, which recently went into liquidation, was shown at the examination of the affairs of the bank before Referee Eastman. Assets had been estimated at $1,000,000, but a two-week search by the receiver, it was said, failed to disclose more than $350.000.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
