gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6eadb2b3d6bb83f5
Response Measures
None
Events (2)
1.March 20, 1923Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed by state bank examiner for irregularities in accounts; anticipated shortage of about $150,000.
Newspaper Excerpt
the Sixteenth Street State Bank suspended business.
Source
newspapers
2.March 21, 1923Receivership
Newspaper Excerpt
Two suits for the appointment of a receiver for the Sixteenth Street State bank, which was closed yesterday, were filed by depositors today ... Samuel W. Maltz ... admitted ... he had used unconventional financial methods in obtaining loans from the bank.
Source
newspapers
Newspaper Articles (10)
1.March 21, 1923Clarion-LedgerJackson, MS
Click image to open full size in new tab
Article Text
Another Chicago Bank Is Closed For Irregularities
Chicago, March 20. β The second state bank to be closed here in less than two weeks because of irregularities in its accounts had its doors locked today by Henry S. Savage, chief state bank examiner, when the Sixteenth Street State Bank suspended business. Ten days ago the Logan Square Trust and Savings Bank was closed when Fred W. Popp, its president, was found with a bullet through his head.
2.March 21, 1923Clarion-LedgerJackson, MS
Click image to open full size in new tab
Article Text
Chicago, March 20. β The second state bank to be closed here in less than two weeks because of irregularities in its accounts had its doors locked today by Henry S. Savage, chief state bank examiner, when the Sixteenth Street State Bank suspended business. Ten days ago the Logan Square Trust and Savings Bank was closed when Fred W. Popp, its president, was found with a bullet through his head.
Representatives of the bank said a shortage of about $150,000 was anticipated. Some of the officers expressed a belief that depositors would secure at least 80 percent of their deposits. The bank had half a million dollars on deposit when it closed.
3.March 21, 1923Hartford CourantHartford, CT
Click image to open full size in new tab
Article Text
Chicago Bank Closed.
Chicago, March 20.βThe second state bank to be closed here in less than two weeks because of irregularities in its accounts had its doors locked today by Henry S. Savage, chief state bank examiner, when the Sixteenth Street State Bank suspended business.
4.March 21, 1923Buffalo CourierBuffalo, NY
Click image to open full size in new tab
Article Text
Chicago, March 20.βThe second state bank to be closed here in less than two weeks because of irregularities in its accounts had its doors locked today by Henry S. Savage, chief state bank examiner, when the Sixteenth Street State bank suspended business. Ten days ago the Logan Square Trust and Savings bank was closed when Fred W. Popp, its president, was found with a bullet through his head.
While bank examiners refused to make any statements from representatives of the Sixteenth Street it was learned that a shortage of about $150,000 was anticipated.
Samuel W. Maltz, former president of the bank, was held in the custody of the state's attorney for the night.
5.March 21, 1923The Montgomery AdvertiserMontgomery, AL
Click image to open full size in new tab
Article Text
CHICAGO BANK CLOSES
Second Institution in Two Weeks Shows Irregularities
CHICAGO, March 29.βThe second bank to be closed here in less than two weeks because of irregularities in its accounts had its doors locked today by Henry S. Savage, chief state bank examiner, when the Sixteenth Street State Bank suspended business. Ten days ago the Logan Square Trust and Savings Bank was closed when Fred W. Popp, its president, was found with a bullet through his head.
6.March 22, 1923The Birmingham Age-HeraldBirmingham, AL
Click image to open full size in new tab
Article Text
SEEK RECEIVER FOR BANK CHICAGO, March 21.-Two suits for the appointment of a receiver for the Sixteenth Street State bank, which was closed yesterday, were filed by depositors today after Samuel W. Maltz, former president of the institution, admitted to assistant state's atterneys that he had used unconventional financial methods in obtaining loans from the bank.
7.March 26, 1923Lexington LeaderLexington, OK
Click image to open full size in new tab
Article Text
CHICAGO BANK IS CLOSED
Sixteenth Street State Bank's Accounts Are Irregular.
Chicago, Ill.βThe second state bank to be closed here in less than two weeks because of irregularities in its account had its doors locked by Henry S. Salvage, chief state bank examiner, when the Sixteenth Street state bank suspended business a few days ago the Logan Square Trust and Savings bank was closed when Fred W. Popp, president, was found with a bullet through his head.
While bank examiners who started to work at once on the books of the institution refused to make any statements from representatives of the bank it was learned that a shortage of about $150,000 was anticipated.
8.March 29, 1923The Butler HeraldButler, OK
Click image to open full size in new tab
Article Text
CHICAGO BANK IS CLOSED
Sixteenth Street State Bank's Accounts Are Irregular.
Chicago, Ill.βThe second state bank to be closed here in less than two weeks because of irregularities in its account had its doors locked by Henry S. Salvage, chief state bank examiner, when the Sixteenth Street state bank suspended business a few days ago the Logan Square Trust and Savings bank was closed when Fred W. Popp, president, was found with a bullet through his head.
While bank examiners who started to work at once on the books of the institution refused to make any statements from representatives of the bank it was learned that a shortage of about $150,000 was anticipated.
9.March 30, 1923The PatriotGlenmora, LA
Click image to open full size in new tab
Article Text
George E. Kessler, 61 years old, of St. Louis, Mo., nationally known landscape architect, died at Indianapolis, Ind., following a brief illness. Kessler drew up the building plans for the St. Louis Exposition in 1904.
The second state bank to be closed at Chicago in less than two weeks because of irregularities in its accounts had its doors locked by Henry S. Savage, Chief State Bank Examiner, when the Sixteenth Street State Bank there suspended business. Ten days before the Logan Square Trust and Savings Bank was closed when Fred W. Popp, president, was found with a bullet through his head.
10.April 5, 1923Taloga Times-AdvocateTaloga, OK
Click image to open full size in new tab
Article Text
CHICAGO BANK IS CLOSED
Sixteenth Street State Bank's Accounts Are Irregular.
Chicago, Ill.βThe second state bank to be closed here in less than two weeks because of irregularities in its account had its doors locked by Henry S. Salvage, chief state bank examiner, when the Sixteenth Street state bank suspended business a few days ago the Logan Square Trust and Savings bank was closed when Fred W. Popp, president, was found with a bullet through his head.
While bank examiners who started to work at once on the books of the institution refused to make any statements from representatives of the bank it was learned that a shortage of about $150,000 was anticipated.
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.