gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d9964fdf125f9512
Response Measures
None
Description
Bank was temporarily closed and reopened in Oct 1930 but later placed in receivership and became defunct.
Events (3)
1.September 19, 1930Suspension
Cause
Rumor Or Misinformation
Cause Details
Disappearance of President Hazel K. Groves caused fear of a run, prompting directors to close the bank and request state inspection.
Newspaper Excerpt
directors of the bank ordered the institution closed to prevent a run.
Source
newspapers
2.October 7, 1930Reopening
Newspaper Excerpt
The American State Bank of East Chicago opened its doors this morning for the first time since closing ... allowing depositors ... to sign time certificates under which the bank expects to assume the full deposit liability ... .
Source
newspapers
3.March 13, 1931Receivership
Newspaper Excerpt
Walter Schrage ... appointed receiver for the American State Bank of East Chicago, stated today ... clients who preferment their claims have until April 20 ... .
Bank President Is Thought Kidnaped EAST CHICAGO, Ind., Sept. 20(/P)-Police of Illinois and Indiana tonight were searching for H. K. Groves, president of the American State Bank of East Chicago, and treasurer of Lake county, Indiana, in the belief that he has been kidnaped. Groves disappeared yesterday and directors of the bank ordered the institution closed to prevent a run. Groves left his home early yesterday to attend a conference and has not been seen since. He was known to have been in the habit of carrying large sums of money. but whether he had a great deal with him yesterday could not be learned.
2.September 27, 1930The Chico EnterpriseChico, CA
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Article Text
President Found Amnesia Victim
EAST CHICAGO, Ind., Sept K. Groves, Lake county treasurer and president American State Bank of East Chicago who disappeared two weeks ago. returned his home last night, apparently victim of Amnesia. The American State Bank closed after the disappearance its president has been under examination state inspectors reported finding slight regularities its accounts. said no serious exists and the books of the Lake county treasury were declared to satisfactory condition.
3.September 27, 1930The HeraldRock Hill, SC
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Article Text
County Treasurer Returns, Apparently Victim Of Amnesia
East Chicago, Ind., Sept. Hazel Groves, Lake county treasurer and president of the American state bank East Chicago, disappeared two weeks ago, returned home last night, apparently victim of amHe said he could remember nothing since seen at dar lake hotel The American State bank closed after the disappearance of its president, and has been amined. said serious shortage the books of the Lake county treasurer were said to in satisfactory condition.
Banker Declares,
Upon Return East Chicago, After Absence To Party, He Recalls.
Chicago, Ind., September Groves, Bank dent and County Treasurer, turned his home, but his disappearance much of mystery during the week gone. Groves, disappeared September 19, returned early today and sued statement, through his saying could remember nothing from Saturday until yesterday, when awoke in Peoria hotel. He refused to reporters, but had short conference with busiassociates, which said proposed merger of Groves's and another East Chicago bank was cussed. similar conference the merger which Groves failed to attend September 19, causing great alarm his safety. had been on way to the but did not and could not found. Wide search resulted clue reported seen Cedar Lake, Ind., resort the day after scheduled bank meeting. Then trace was lost. Fearing on the bank, directors of the American State Bank immediately
Continued On Page Column
5.September 28, 1930Leader-TribuneMarion, IN
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Article Text
LOCATE MISSING BANK PRESIDENT
EACT Ind., Sept. Groves, president the American State Bank of East Chicago Lake County treasurer geen missing for week. returned his home here early Groves, who said he had suffered lapse memory was brought home by Harry Groves, brother found Peoria, Harry Groves lives in Springfield, The American State Bank closed days ago Thomas Barr, chief examined for state banking department. who the banking laws had violated and that Groves would be arrested found. Groves declined to admit callers his home today.
MISSING BANK CHIEF RETURNS
Indiana Man Remembers Nothing of Happenings Of Past Week
EAST CHICAGO, Ind. Sept. 27(P)-Hazel K. Groves. bank president and county treasurer has Teturned to his home but his disappearance is as much of a mystery as it was during the week he was gone. Groves, who dropped out of sight Sept. 19, returned carly today and issued statement through his son saying be could not remember from last until yesterday when he awoke in Pcoria, Ill., hotel. He refused to see reporters but held short with business associates at which was said the proposed merger of Groves and another East Chicago bank was discusIt was similar conference on the merger which Groves failed to at. tend Sept. 19, causing great alarm for his safety. He had been seen on route to the meeting but he did not arrive and could not be found. A wide search resulted in but one Groves was reported seen at Cedar Lake. Ind., the day after the scheduled bank meeting Then all trace of him was lost. Fearing run on the bank, directors of the American State bank immediately closed the institution and asked the state banking department to exthe books. amine The bank was found to be in satisfactory condition, despite "slight irregularities. Groves books as Lake county treasurer were also examined and found to be in good shape. Groves' story, as relayed by his son, was that he suffered lapse of memory after party at Cedar Lake, Sept. 20. He remembered nothing from the time of the party until yesterday morning, when he awoke in a hotel room in Peoria He did not know how he got to Peoria, how long he had been there or whether he had been in any other towns during his weeks absence He had not been robbed but still bad money when he awoke yesterday. He called his brother. Harry Groves. of Springfield III., and he later brought him to East Chicago
7.September 28, 1930The Daily WorldHelena, AR
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Article Text
MYSTERY TREASURER
East Chicago, Ind., Sept. K. Groves, bank president and county treasurer, has turned to his home but his disappearance is as much of a mystery as it was during the week he was gone. Groves, who dropped out of sight Sept. 19. returned early today and issued statement through his son saying he could remember nothing from last Saturday until yesterday when he awoke in Peora, Ill., hoHe refused to see reporters but held short conferenc with business associates at which it was said he proposed merger of Groves and another East Chicago bank was discussed. It was similar conference on the merger which Groves failed to attend Sept. 19, causing great alarm for his safety. He had been seen en route to the meeting but he did not arrive and could not be found A wide search resulted in but one was reported seen at Cedar Lake, Ind., resort the day after the scheduled bank meeting Then all trace of him was lost Fearing run on the bank, directors of the American State Bank immediately closed the institution and asked the state banking department to examine the books. The bank was found to be in satisfactory condition, despite "slight irregularities." Grove's books as Lake county treasurer were also examined and found to be in good shape. Groves' story, as related by his son, was that he suffered a lapse of party at Cedar Lake Sept. 20. He remembered nothing from the time of the paruntil yesterday morning, when awoke in a hotel room in know how he got to Peoria, how long he had been there whether he had been in any or other towns during his week's absence.
8.September 28, 1930The Atlanta JournalAtlanta, GA
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Article Text
Banker Returns, Reports Lapse Of Memory
EAST CHICAGO, Ind., Sept. (AP)-Hazel Groves, bank president and county treasurer, has returned to his home, but his disappearance much mystery as it was during the week he was gone. Groves, dropped out sight September 19, early Saturday and issued statement through his saying could remember from last until Prihe awoke in Peoria, hotel. refused reporters, but held short conference with business associates which was said proposed merger Groves' and another East Chicago bank was discussed. It was similar conference on the merger which Groves failed to attend September 19, causing great alarm his safety. He been en route to the but did arrive and could not be A wide search resulted in but one reported Cedar Lake, Ind., resort the day after the scheduled bank meeting Then all trace of him was lost. Fearing run on the bank. directors of the American State Bank immediately closed the institution asked Department to examine the books. The bank was found to be in satisfactory condition, irregularities books as Lake County also amined and found to be in good Groves' story, as related by his son, was that he suffered lapse memory after party Cedar Lake September nothing from the time of the party until Friday morning, when he awoke in Peoria. He did not know how got to Peoria, how long he had there whether he had been any other towns during his absence. He had not been robbed but still had money he awoke Friday. He called his brother, Harry Groves, Springfield, III., the latter brought him to East Chicago. An automobile bearing the license plates issued to Groves was reported Saturday to been several times in Canton, about forty miles from Peoria. The last the plates were noticed in Canton was Wednesday.
GROVES CASE STILL MYSTERY
EAST CHICAGO, Indiana, Sept. prest- 27 Groves, bank has dent and but his disapturned to his home much of mystery the he was was during gone. dropped of who returned early today September 19. through his issued statement and he could remember saying from last Saturday nothing yesterday when he awoke Peoria He refused to hotel held short but which said. the proposed merger of another List Chicago bank discussed similar conference Groves failed to the merger which 19. causing great attend September He had been alarm for his safety the meeting but en route arrive and could not be not found search resulted in bu wide one reported Sedar Lake resort after the scheduled bank meetday Then all trace him run on the American State immediately the Bank tution asked the examine the department
10.September 29, 1930Statesville Record and LandmarkStatesville, NC
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Article Text
Bank Head Returns Victim of Amnesia Chicago, Ind., Sept. Lake county the American State Bank East Chicago, disappeared weeks returned home apparently victim Groves said he could remember Cedar Lake, awoke hotel State Bank was closed the their and been under and the Lake County condition.
11.October 7, 1930The TimesHammond, IN
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Article Text
AMERICAN STATE BANK OPENS ITS DOORS TODAY
American of East Chicago opened doors ing for the time positors of than $200 sign time under which the bank East latter part of and ultimately sume the full deposit liability of the American formal statement from Thomas D. Barr, chief deputy banking Walter president of East Chiin last set forth the terms Mr. clared of depositors already the bank had accepted time certificates, and his optimism over the expressed of the depositors days the bank will night. Mr. volunteered time to take the American and pay off the depositors in full withdraw, but in the of protecting the cash of the State, Mr. As ternative that the banks the of or the savings $100 would agree to accept token of their money, of assets of the American State by the East Chicago State, and enable full ment deposits without the necesproceedings and of receivership consequent loss.
12.October 7, 1930The TimesHammond, IN
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Article Text
AMERICAN STATE BANK OPENS ITS DOORS TODAY of opened doors ing for first time since positors of than $200 to time under which expects East latter part of this and ultimately sume the full deposit liability of the American formal statement from Thomas D. chief deputy Schrage, of the East Chicago State, in last Times set forth the of the merger. Mr. Schrage, the American State this clared number of depositors already into the bank and had accepted the time certificates, expressed his optimism over the depositors Judge Clyde Cleveland afternoon designated the Peoples which the bank will be open State bank the receiver for the day and defunct Peoples Co-Operative State Mr. volunteered bank of Deputy Attorney General E. Burke Judge and pay the depositors and for full the will receive the the interest of the cash tection the court in of the East Chicago and obligations as the liquidating Mr. Barr prevented this. agent. that the The Peoples immediately the assets of the Peoples account of $200 or Co-Operative, proceed to liquiand the depositors date them and pay out the depositors of $100 would agree to accept gradually as realization made on token of their the notes and other allow the assets ligations payable to the Peoples Coof the American State by the East Operative. In manner, payment Chicago State, and full of 100 percent on deposits will ment deposits the necesmade, although will necessarily of receivership proceedings and sity require little time pending the the consequent loss.
13.October 7, 1930The TimesHammond, IN
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Article Text
AMERICAN STATE BANK OPENS ITS DOORS TODAY
The American State Bank of East Chicago opened its doors this mornIng for the first time since closweeks allow depositors of more $200 to sign time certificates, under which expects East Chicago Bank the latter of this the full deposit liability of the formal statement Thomas D. Barr, chief deputy state banking Walter Schrage, president East in last Times forth the the American clared that number depositors already the bank and had accepted time certificates, expressed his optimism over the prospect of most the depositors coming during which the bank will be open and night. Mr. volunteered some time ago State pay depositors in full withdraw, but in the protecting the reserve the Chicago State, Mr. Barr prevented alternative it agreed that banks would merge if checking account depositors $200 more and the depositors of $100 would agree accept time token of their money, allow the taking over of the assets of the American State by the East Chicago State, and enable full ment deposits without necessity of receivership proceedings the consequent
14.February 18, 1931The TimesHammond, IN
Article Text
EAST CHICAGO
WASHINGTON AND FROEBEL at climax the Twin
LENT OPENED TODAY WITH of Roman Catholic faith Ash Wednesday.
DEPUTY SHERIFFS MINER AND Crawford in East Chicago again last night.
CITY BOY SCOUTS HAVE offers camp
J. GOULD GOULD'S IS IN York buying spring chandise.
NEW INDUSTRIAL DEVELOPments to solve the local employment situation.
COMPLETE SPRING PROgram for Twin City Lions has been put into effect.
EAST CHICAGO R V $26,176.01 yesterday as its share of state gasoline tax refund for
EAST CHICAGO'S DEMOCRATS Paul McNutt political meeting last evening at Whiting.
AMERICAN STATE BANK ceivers plan move from bank the corner store opening for other business.
"HER HONOR THE IS three-act comedy to the the church Friday evening.
NEW AUTOS AND to the East Chicago Police force.
TRAFFIC SIGNS BEING INstalled the Twin City by the Chicago Motor club, survey to determine the city's needs.
THE PROSECUTOR HAD "good at the city court 10 convictions.
H. INSURANCE agent, against insurance bootleggers. He member committee for that appointed by Calumet Life Underwriters association.
THE PRESIDENT OF the from today. Matters pertaining to the Forsyth viaduct, districts and budgets their attention.
15.February 27, 1931The TimesHammond, IN
Article Text
Did You Hear That
EAST CHICAGO
ANOTHER SIGN OF SPRING AND industrial expansion is the grading at company. busy pushing around.
NUMBER ONE FIRE DEPAR destruction by fire yesterday.
COL. P. OF THE state is giving the during present visit in the region.
M. MARY AGNES IS IN EAST Chicago for the first time leaving Carmelite 1913. She is back on the job here and was greeted by many of her former
WILLIAM O. DAY, BLIND JUStice terday on charge of grand larceny.
DR. R. H. WASSER, OF SHELL is in Florida for short
OLAFF ENGINEER of the U. S. Lead Refinery, is
WINDOWS OF THE AMERICAN State bank were washed today for the first time since the Institution closed last September. Receivers for the bank plan to move to new offices soon.
PLAYS CENTRAL Fort Wayne here night to wind up the local cage season,
PURCHASE THE SWIFT AND Company lines General confirmed yesterday in New York.
FOURTH DISTRICT MEETKnights Pythias held in East Chicago tonight.
THREE LIQUOR RAIDS WERE made night and police arrested three this morning.
INLAND RECEIVED 7,000 TON rail order from Nickel Plate railroad yesterday.
THE NORTHERN INDIANA CONference cage title will be stake tonight the Senators meet LaPorte here.
JURIES IN THE EAST CHICAGO court work out on damage this
AUTOMOBILE LICENSES MUST be purchased at the General Amerirestaurant Euclid avenue
ATTORNEY JAMES W. BRISSEY has moved offices the John Pora building on Guthrie
INDIANAPOLIS SEEMS TO BE the "Mecca politicians" from East Chicago. H. R. Packard and A. P. Twyman there today. Andrew Rooney returned this morning, Ed Knight Is going back next as great many others interested in legislation.
16.March 13, 1931The TimesHammond, IN
Article Text
SCHRAGE REPLIES TO DEPOSITORS
In to many calls which he reply [SPECIAL TO THE TIMES) received, Walter Schrage of CROWN POINT, Ind., March Whiting, appointed Sheriff Roy Holley last ceiver American State Bank of East Chicago, stated today that given gold, pearl clients who perferment by deputies their claims have until April 20 the sheriff's home which file their preferred claims. Deputy Sheriff John Mr. Schrage declared that deposiof accounts, checking of Hammond, after tors savings accounts, to oration eloquent petitions preferment their cooperation in the claims anypresented Sheriff way, to ruling made by the court. gold firearm.
17.March 13, 1931The TimesHammond, IN
Article Text
SCHRAGE REPLIES TO DEPOSITORS
In reply many calls which he Walter Schrage Whiting, appointed receiver for the American State Bank of East Chicago, stated today that clients on their claims have April 20 in their claims. Mr. that deposiof savings checking accounts, do not to file petitions for their claims anyruling made by the court.
18.December 21, 1931The TimesHammond, IN
Article Text
Voice of the People
Letters for the Voice of People. not over 200 words long, written legibly, on one side of the paper and free from all personality and with above the all name must and address signed the writer. to is your because letter it falls violates appear, one of these
East Chicago, Ind. Dec. 20, 1931
Editor of The Times: Would like to hear from the American State bank receiver, other banks are giving dividends for Christmas, why not the American State bank? Why does the receiver never report to depositors. Yours truly CHARLES SCHWARTZ, 4411 Baring avenue.
19.January 28, 1932The TimesHammond, IN
Article Text
GROVES WILL PROBABLY ASK VENUE CHANGE
Former Co. Treasurer Will Be Arraigned Tomorrow in Criminal Court
[SPECIAL TO THE TIMES]
CROWN POINT, Ind., Jan. 28.—Hazel K. Groves, former county treasurer, will be arraigned in the Lake Criminal court tomorrow morning on charges of violating state banking laws while he was president of the now defunct American State bank, of East Chicago.
Floyd Draper, his attorney, intimated to the state today that he will file an application for a change of venue to Porter county, according to John Underwood, chief deputy prosecutor.
20.January 30, 1932The TimesHammond, IN
Article Text
GROVES CASE IS VENUED TO JASPER CO.
[SPECIAL TO THE TIMES]
CROWN POINT, Ind., Jan. 29.—The case of former County Treasurer Hazel K. Groves on charges of violating state banking laws while he was president of the now defunct American State bank, of East Chicago, was venued to the Jasper Circuit court at Rensselaer by Judge Martin Smith in the Lake Criminal court this afternoon.
Mr. Groves through his attorney, Floyd Draper, filed a petition bearing 179 signatures in which it was asserted that Groves could not receive a fair trial in Lake county because of existing prejudice against him here.
The petition further asserted that Mr. Groves has been held up to ridicule and scorn by four of the leading newspapers circulating in Lake county.
Counsel for Groves then requested the judge to send the case to Porter county.
Judge Smith acknowledged that prejudice exists against Mr. Groves in this county, but he refused to venue the suit to Porter county. He finally selected Jasper county. Judge Moses Leopold of the Jasper Circuit court will sit as the trial judge.
Mr. Groves was arrested last year on affidavits sworn out by Prosecutor Robert G. Estill after the grand jury had refused to indict him in connection with its investigation into the First Trust and Savings Bank of Hammond.
Estill alleged in his affidavit that Groves had a made a number of illegal overdrafts and he cited specific instances.
21.February 11, 1932The TimesHammond, IN
Article Text
GROVES TRIAL WILL BE SET AT APRIL TERM
[SPECIAL TO THE TIMES]
RENSSELAER, Ind., Feb. 11.—Trial of Hazel K. Groves, former treasurer of Lake county, on charges of violating state banking laws while he was president of the defunct American State bank, of East Chicago, will not be set until the April term of the Jasper Circuit court here.
This case was venued to Rensselaer by Judge Martin J. Smith of the Lake Criminal court on the petition of the defendant who declared that prejudice existed against him in Lake county and that he therefore could not receive a fair and impartial trial there.
Unless a change of judge is requested by the defense, Judge Moses Leopold of the Jasper Circuit court will hear the trial.
Groves was arrested last year on an affidavit signed by Prosecutor Robert G. Estill of Lake county after a grand jury had refused to indict him. The affidavit alleged illegal overdrafts and cited a specific instance.
The alleged overdrafts were made while Groves was still the active president of the American State bank, according to Estill.
Mr. Groves retired as treasurer of Lake county at the expiration of his term, January 1, 1932. He was elected to office on a republican
22.June 15, 1932The TimesHammond, IN
Article Text
GROVES TRIAL POSTPONED TILL SEPT. TERM
[SPECIAL TO THE TIMES]
RENSSELAER, Ind., June 15.—Former Lake County Treasurer Hazel K. Groves, of East Chicago, will be tried next September in the Jasper Circuit here on charges of overdrawing his account while he was president of the defunct American State bank of East Chicago.
The trial was set over to the September term yesterday afternoon by Judge Moses Leopold after the court had ruled that the state's affidavit was faulty and Prosecutor Robert G. Estill had obtained permission to file an amended affidavit.
Judge Leopold's ruling came as a surprise at the end of the session yesterday. The defendant already had been arraigned and a jury selected when the court decided to reverse a ruling on the affidavit which he had made at the beginning of the trial.
23.June 15, 1932The TimesHammond, IN
Article Text
[SPECIAL TO THE TIMES]
RENSSELAER, Ind., June 15.—Former Lake County Treasurer Hazel K. Groves, of East Chicago, will be tried next September in the Jasper Circuit here on charges of overdrawing his account while he was president of the defunct American State bank of East Chicago.
The trial was set over to the September term yesterday afternoon by Judge Moses Leopold after the court had ruled that the state's affidavit was faulty and Prosecutor Robert G. Estill had obtained permission to file an amended affidavit.
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.
