gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2e747c5e5bda6052
Response Measures
None
Description
Receiver reopened the bank building briefly for depositors' information but the institution remained in receivership.
Events (4)
1.June 1, 1914Run
Cause
Bank Specific Adverse Info
Cause Details
Mild run over several weeks tied to allegations about the bank (suit/alleged contributions) and later-discovered weak/slow assets causing withdrawals of large accounts totaling about $1,000,000.
Newspaper Excerpt
For the last three weeks ... there has been a mild run on the bank
Source
newspapers
2.June 12, 1914Suspension
Cause
Government Action
Cause Details
State bank examiner took the bank in charge and closed its doors to begin an examination of its affairs.
Newspaper Excerpt
The La Salle Street Trust and Savings bank ... was closed today by the state bank examiner
Source
newspapers
3.June 19, 1914Receivership
Newspaper Excerpt
The La Salle Street Trust and Savings bank ... was placed in the hands of a receiver today. W. C. Niblack ... was named for the position by Judge Windes
Source
newspapers
4.June 22, 1914Other
Newspaper Excerpt
William C. Niblack, receiver ... took possession of the institution and immediately the bronzed doors ... swung open. The bank building will be open for six hours during the day from now on.
Source
newspapers
Newspaper Articles (25)
1.June 12, 1914Tonopah Daily BonanzaTonopah, NV
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Article Text
FIVE MILLIONS IN SAVINGS BANK CLOSED IN CHICAGO SENATOR LORIMER'S BANK AND THREE BRANCHES PUT OUT OF BUSINESS. (By Associated Press.) CHICAGO, June 12.-The Lasalle Street Trust and Savings bank, of which former United States Senator Lorimer is president, is in charge of the state bank examiner. Today the examiner reported the condition was such as to warrant closing . A mild run started several days ago. The last statement showed the capital stock to be $1,000,000, with a surplus of $250,000, undivided profits $93,000, deposits $5,000,000, assets $4,000,000. Three subsidiaries were also closed.
2.June 12, 1914Bryan Daily Eagle and PilotBryan, TX
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Article Text
CHICAGO BANKS GO TO WALL LaSalle Street Trust and Savings Bank and Three Subsidiaries Closed by Bank Examiner. [By Associated Press] Chicago, III., June 12.-A State bank examiner today closed the LaSalle Street Trust and Savings Bank and three local subsidiary banks, Broadway State, the Ashland and Twelfth and Illinois State. Former United States Senator Lorimer was president of the LaSalle Street Trust & Savings Bank. There had been previously a small run on this bank.
FOUR LORIMER BANKS CLOSED STATE BANKING DEPARTMENT ACTS AND MAY ASK FOR RECEIVERSHIP. Chief Examiner Takes Personal Charge of Largest Bank- May Re-open Next Week. CHICAGO, June 12-Four state banks. the most important having for its president William Lorimer. unseated from the United States Senate, were closed by the state bank ing department here today. Representatives of the department immediately began a close examination into the institutions' affairs. Rumors are current that a receivership will be asked. The four banks were the La Salle Street Trust & Savings Bank. the Broadway State bank. the Illinois State Bank, and the Ashland Twelfth State Bank, known as the LorimerMunday chain of banks. The La Salle Street Bank was the main Institution, the others being outlying concerns whose balances and reserves were carried to a great extent by it. Combined they have deposits of $6.411,997 $1,434,692. and reported cash means of Of their deposits $966,000 consists of city funds. The bulk of this amount $650,000 is on deposit with the La Salle Street Trust and Savings bank. The sanitary district of Chicago has $75,000 in the La Salle Street bank. Open Next Week. Chief bank Examiner Daniel Harkin who took personal charge of the down town bank and sent deputies to the smaller ones said late today that he expected to see the La Salle St., Trust and Savings bank open for business next week. He declared that he sent examiners to the smaller institutions as a precautionary measure. He insisted that there was no polltical phase to the action of his department. An examination of the La Salle Street Trust and Savings bank by Harkin two months ago disclosed. be said, a quantity of what he regarded as slow assets. The bank officials are said by state officials to have pleaded for a little time in which to change that condition. Mild Run on Bank. In the last three weeks. according to Examiner Harkin and the cashier of the bank. there has been what was termed a mild run on the bank. causdeposits. ing a depletion of about $1,000,000 in Former United States Senator Lorimer, president. and C. B. Munday, vice president, situation. refused to comment on the James B. Forgan, president of the First National Bank. and chairman of the clearing house committee. said: "The closing of the LaSalle Street Trust & Savings Bank should not have the slightest effect upon any other banks in the Chicago district."
4.June 13, 1914Bismarck Daily TribuneBismarck, ND
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Article Text
BILL LORIMER BANK CLOSED FOR REPAIRS CHAIN OF CHICAGO INSTITUTIONS TAKEN IN CHARGE BY EXAMINER. MILD RUN FOR A WEEK Chicago, III.. Juhe 12.-Four state banks in Chicago, with aggregate deposits of $6,411,997 and reported cash means of $1,434,692, were taken in charge today by the state banking department, which closed the bank's doors to begin a close examination of their affairs. The four were: The LaSalle Street Truss and Savings bank. the Broadway State bank, the Illinois State bank and the Ashland-Twelfth State bank, known in financial circles as the Lorimer-Munday chain of banks. Lorimer's Banks. The LaSalle Street Trust and Savings bank, the president of which is William Lorimer, who was unseated from the United States senate, is the main institution, the three others being outlying banks, whose balances and reserves were carried to a great extent by the LaSaile Street bank. Chief Bank Examiner Harkin said he expected to see the LaSalle Street bank open for business next week. He insisted there was no political phase in the closing of the banks. For the last three weeks, it is said, there has been a mild run on the main bank.
5.June 13, 1914The Pensacola JournalPensacola, FL
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Article Text
BY ASSOCIATED PRESS. Chicago, June 12.-The La Salle Street Trust and Savings Bank, organized by William Lorimer five years ago when he was United States senator from Illinois, and of which he has since been president, was closed today by the state bank examiner. While rumors of financial trouble had been whispered of late, the actual closing of the institution was a surprise. Coincident with this action examiners closed three state banks which had heavy deposits with the larger institution. No statement of what the closing of the La Salle Street Bank actually means in dollars was made by the examiner. Recent reports to the state auditor's office placed the deposits at more than $5,000,000. For the last three weeks, according to officials, there has been a mild run on the bank
6.June 13, 1914Arizona RepublicanPhoenix, AZ
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Article Text
EXAMINER CLOSES CHAIN OF LORIMER BANKS Four Institutions With Deposits More Than $6,000,000 Are Suspended [ASSOCIATED PRESS DISPATCH] CHICAGO, June .-Four state banks in Chicago, with aggregate deposits of more than $6,000,000 and reported cash means of $1,400,000 were taken in charge by the state banking department which closed the banks doors and began an examniation of the banks affairs. The four are the La Sallee Street Trust & Savings; The Broadway State: The Illinois State and the Ashland-Twelfth State banks. known in official circles as the Lorimer-Munday chain of banks. An examination of the La Salle Street Trust & Savings bank by Harkin two months ago, disclosed, he said, a quantity of what he regarded as slow assets. The bank officials are said by state officials to have pleaded for a little time in which to change that condition. In the last three weeks, according to Examiner Harkins also the cashier of the bank, there has been what was termed a mild run on the bank, causing a depletion of about $1,000,000 in deposits. The La Salle Trust & Savings bank, the president of which is William Lorimer, unseated from the United States senate, was the main institution, the three others being outlying banks whose balance and reserves were carried to a great extent by the La Salle street bank. Chief Bank Examiner Daniels Harkin said tonight he expected to see the La Salle Trust & Savings open for busines next week. He declared that he sent the examiners to the smaller institutions as precautionary measures. He insisted there was no political phase in closing the banks. U
7.June 14, 1914Arizona RepublicanPhoenix, AZ
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Article Text
WITHDRAW $1,000,000 [ASSOCIATED PRESS DISPATCH] CHICAGO, June 13.-Deposits in the La Salle Street Trust and Savings bank decreased over $1,000,000 by withdrawals of large accounts between June 1 and June 12. according to Daniel Harkin, state examiner. The bank, the president of which is William Lorimer, the unseated United States senator, was closed yesterday by the state. Alderman Merriam announced he is going to inquire what "influence" caused the Lorimer bank to carry the maximum of city deposits for two years while no municipal funds were deposited in other banks.
8.June 16, 1914The Logan RepublicanLogan, UT
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Article Text
Chicago in North Clark street. In financial circles it was reported that the Corn Exchange bank yesterday refused to allow the La Salle Street Trust and Savings bank to clear through it. The run on the bank was characterized by bank officials as mild and attributed to allegations made in connection with the suit of John H. Coyne against State Auditor Brady, in which Coyne charged in his declaration in a suit for damages that the La Salle Street bank had contributed to the Brady campaign fund and that the contribution had been made the basis of a claim that it should be consulted regarding appointments to be made by the state auditor.
9.June 18, 1914The Mitchell CapitalMitchell, SD
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Article Text
FINDS ASSETS ARE MISSING BIG SUMS LISTED IN LORIMER'S BANK ARE NOT FOUND WHEN VAULTS ARE OPENED. Chicago.-Conditions of a grave and startling character were uncovered by Bank Examiner Daniel V. Harkin in pressing his investigation of the suspended La Salle Street Trust and Savings bank, of which former Senator Lorimer was president. The discoveries were such as to de-
10.June 19, 1914The Topeka State JournalTopeka, KS
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Article Text
Receiver for Lorimer Bank. Chicago, June 19.-The La Salle Street Trust and Savings bank, which was closed by a state bank examiner last week, was placed in the hands of a receiver to lay. W. C. Niblack, vice president of. the Chicago Title and Trust company, was named for the position by Judge Windes, who placed his bond at $2,500,000.
11.June 19, 1914The Daily TelegramClarksburg, WV
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Article Text
RECEIVER Now Has Charge of One of Lorimer's "Busted" Banking Institutions. (BY ASSOCIATED PRESS) 3 CHICAGO, June 19.-The LaSalle Street Trust and Savings Bank, which was closed by a state bank examiner last week, was placed in the hands of a receiver today. W.C. Niblack, vice president of the Chicago Title and Trust Company, was named for the position by Judge Windes, who placed his bond at $2,500,000.
12.June 20, 1914Rock Island ArgusRock Island, IL
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Article Text
TO INDICT ONE IN BIG BANK FAILURE Chicago, III., June 20.-Indictment of at least one official of the LaSalle Street Trust & Savings bank, the Lor!mer-Munday institution, which is in the hands of a receiver, is certain, according to State's Attorney Hoyne.
13.June 20, 1914The Washington HeraldWashington, DC
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Article Text
RECEIVER FOR LORIMER BANKS. Chicago, June 19.-W. C. Niblack, of Chicago, today was appointed receiver for the closed La Salle Street Trust and Savings Bank. Mr. Niblack's bond was fixed at $2,500,000.
PLANS OF INVESTIGATING ATTORNEYS ARE SUSPENDED Chicago, June 23.-Plans of State's Attorney MacLay Hoyne for the Investigation of the suspension of the LaSalle Street Trust and Savings Bank and others of the Lorimer-Munday string of state banks were brought to a halt today at least temporarily, today by the refusal of James J. Brady state auditor, to turn over to Hoyne a copy of the report of the Bank Examiner Daniel V. Harkin.
15.June 24, 1914Grant County HeraldLancaster, WI
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BANK OPENED BY RECEIVER W. C. Niblack Takes Charge of LaSalle Street Trust & Savings at Chicago. Chicago, June 22.-William C. Niblack, receiver of the LaSalle Street Trust & Savings bank,' took possession of the institution and immediately the bronzed doors, closed since a week ago last Friday, swung open. The bank building will be open for six hours during the day from now on. This was determined by Mr. Niblack, who said he knew the 12,000 depositors who have money in the closed institution were anxious for information. This will be readily given by Mr. Niblack's assistants. Cashier Fox opened the vaults for the receiver and he then formally took possession.
16.July 6, 1914Arizona RepublicanPhoenix, AZ
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Article Text
W. C. Niblack, vice president of the Chicago Title and Trust Co., has been appointed receiver for the La Salle Street Trust and Savings bank of Chicago, of which institution former Senator William Lorimer was president. Mr. Niblack was required to give a bond of $2,500,000.
17.July 9, 1914Evening StarWashington, DC
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Bank Suspension Only Temporary. BETHALTO, Ill., July 9.-The Farmers' Bank of Bethalto, one of the chain of Munday banks that closed after the failure of the La Salle Street Trust and Savings Bank of Chicago, reopened today in charge of a representative of the state banking department.
18.July 16, 1914The ReviewHigh Point, NC
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Article Text
Receiver for Lorimer Banks. Chicago.-Receivers were asked for three of the Lorimer-Munday string of small banks. These banks closed with the failure of the parent bank, the LaSalle Street Trust and Savings bank.
19.July 16, 1914The CommonwealthScotland Neck, NC
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Article Text
Receiver for Lorimer Banks. Chicago.-Receivers were asked for three of the Lorimer-Munday string of small banks. These banks closed with the failure of the parent bank, the LaSalle Street Trust and Savings bank.
20.July 16, 1914Polk County News-GazetteBenton, TN
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Article Text
Receiver for Lorimer Banks. Chicago.-Receivers were asked for three of the Lorimer-Munday string of small banks. These banks closed with the failure of the parent bank, the LaSalle Street Trust and Savings bank.
21.July 22, 1914The Alaska Daily EmpireJuneau, AK
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CHICAGO BANK TO PAY ONE DIVIDEND CHICAGO, July 22.-Receiver Niblock of the closed La Salle Street Trust & Savings Bank, believes depositors will receive at least 30% on account by the first part of October.
22.August 19, 1914The Day BookChicago, IL
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HOPE TO OPEN LASALLE BANK At a meeting held in the offices of W. C. Niblack, receiver for the LaSalle Street Trust and Savings Bank, yesterday a proposition to close up the receivership of the bank and to re-open it with new officers and directors was made. It was decided to ask Att'y Gen. Lucey and State Auditor Brady to make a fifty per cent assessment on the capital stock of the bank and then allow its opening. Mr. Munday and his friends insist
23.May 3, 1916Rock Island ArgusRock Island, IL
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LANDIS ASKS PROBE OF SURETY COMPANY Chicago, May 3. --- Federal Judge Kenesaw M. Landis has requested United States Attorney Charles F. Clyne to investigate the alleged neglect of the Illinois Surety company, which recently applied for and obtained a receivership in the superior court of Cook county, to make good a $50,000 surety to the federal government covering deposits in the defunct La Salle Street Trust and Savings bank, and to make good a surety for a like amount in a large number of Chinese cases. Attorney General Lucey yesterday asked Superior Judge D. E. Sullivan to remove James Hopkins from the receivership to which he has been appointed and name a new receiver.
24.May 5, 1916The Washington HeraldWashington, DC
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LORIMER TO RUN AGAIN. First to Pay Bank Depositors, Then Seek Senate Seat. Chicago, May 4.-William Lorimer is again a candidate for the United States Senate. Acquitted last midnight of charges of embezzlement and conspiracy, in connection with the collapse of the La Salle Street Trust and Savings Bank, of which he was organizer and president, the ousted United States Senator today began to whip his business affairs into shape pre-
25.July 10, 1916The Madison Daily LeaderMadison, SD
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Dividend for Lorimer Creditors. Chicago, July 10.-Checks for 25 per cent of the loss sustained by each depositor in the defunct La Salle Street Trust and Savings bank, of which William Lorimer was president, are being drawn by William C. Niblack, receiver, it is announced.
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.
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La Salle Street Trust & Savings Bank · UID 5985424791374
