gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0e102cac8e921e4d
Response Measures
None
Description
Failure attributed to internal embezzlement by officers; receiver appointed and bank remained in liquidation.
Events (5)
1.August 25, 1930Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank crashed after officers had embezzled funds (reported $105,000 dissipated and embezzlement by president and cashier).
Newspaper Excerpt
This is the first dividend authorized for the bank failed Aug. 25, 1930.
Source
newspapers
2.September 1, 1930*Receivership
Newspaper Excerpt
Mr. Emery appointed receiver Sept. 1930.
Source
newspapers
3.October 27, 1931Other
Newspaper Excerpt
Ten per cent cash dividend paid Saturday to 1,716 defunct depositors; first dividend authorized since bank failed Aug. 25, 1930.
Source
newspapers
4.May 17, 1932Other
Newspaper Excerpt
Default judgments totaling $146,596.91 taken to recover embezzled sums from Paul B. Lipinski and Boleslaw Salik.
Source
newspapers
5.March 28, 1935Other
Newspaper Excerpt
Receivership reports show liquidation progress; Northern Trust and Savings bank liquidation nearly complete.
Source
newspapers
Newspaper Articles (19)
1.September 3, 1930The TimesHammond, IN
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Article Text
LIPINSKI MUST GIVE NEW BOND; SALIK SENTENCED
Banker's Bond Found N. G. New Warrant Is Given Police to Serve
Because his bond found to be worthless, bench issued noon today by City Judge Virgil E. Whitaker for the re-arrest of Paul B. Lipinski, president of the defunct Savings bank, and charged with in to of $225,000 of the bank's funds. The action this morning came surprise move since Lipinski's hearing not scheduled to take place until next Monday.
Deputy Prosecutor Harold Hammond, the city court about to adjourn this told Judge Whitaker that he had reason to believe that Lipinski's bond of $15,000 after his arrest last Saturday noon reliable. Lipinski's bond by self Charles Baran, of Gary, who scheduled real estate to the extent of $50,000. check-up recorder's fice in Crown Point that Baran's held in the of Charles Baran, Incorporated, which makes it valueless for the purpose of a bond. The only alternative to arrest Lipinski again obtain which valid. The warrant in the hands of the police department noon and is returnable immediately. Boleslaw Salik, of the Trust, whose to police and Mr. Hammond Lipinski in his peculations, pleaded charge of the Criminal court at Crown Point by Judge Martin Smith to serve from to 14 years in prison and pay fine of $500. The statement which Salik made confessing his the funds presented court by Joe Salik. agreed that Salik will be held at the county jail at Crown Point until the trial of Lipinski, when take the against alleged Lipinski will probably plead not guilty at hearing the city week and be bound to the Criminal Approximately 250 depositors of the Northern Trust night at Polonia hall. of 11 picked at previous on Saturday night had consulted with Former Mayor E. Tinkham, of the firm of Tinkham and Galvin, present last night and explained the present situation which the bank depositors volved. Particularly those people north side homes and the duplicate mortgages and bonds issued by Action of any mainly dependent report of the of the bank to be shortly by Bank Examiner John Meyers.
2.September 28, 1931The TimesHammond, IN
Article Text
E. Treasurer Chicago Withholds His BANKER Signature PLEADS GROCERS YOUNG SWANK PLEADS GUILTY NOT GUILTY; TRIAL OCT. 12 MAY CUT DRUNKEN [SPECIAL THE TIMES] order that might complete OF CHARGE CROWN Ind., Sept. tigations some OFF POOR Declaring throw different light
Hammond Man Fails to Introduce Any Evidence
[SPECIAL TO THE TIMES] CROWN POINT. Sept. 28. B. Lipinski, 63 year old president of the defunct Northern Savings bank of Hammond, plead guilty to charges of illegal loans and overdrafts Lake criminal court this morning and was promptly sentenced to serve two fourteen years in the state penitentiary at Michigan City by,Judge Martin J. Smith. him the amount which to his defunct removed to City
PAUL B. LIPINSKI ment be proved. law the plead guilty in the state prison year SHOWS THE STRAIN Lipinski, showing the effects of advancing age worry attendant his predicament, appeared in court this his attorney, William J. McAleer, Hammond.
The courtroom crowded to capacity. in David T. for the cutor Robert Estill John Unchief prosecutor. The latter the state. McAleer entered of guilty in behalf client. Judge Smith sentenced the former banker. Northern Trust Savings bank failed 1930. arrested the same day when fessed implicated Lipinski and the latter of illegal Lipinski later released in (Continued on Fifteen)
3.October 27, 1931The TimesHammond, IN
Article Text
NORTHERN TRUST DIVIDEND PAID SATURDAY
Ten Per Cent Cash For 1716 Depositors of Defunct Bank cash dividend of 10 per cent, paid Saturday to 1,716 defunct and SavIngs bank of Hammond. Judge Virgil Reiter ing the distribuThe entered after Rae Royce, attorney representing receiver, had presented report Judge Superior court that $22,000 showing in cash available for the diviMr. Emery announced immediateafter court that he begin distribution of will o'clock Saturday morning in the quarters of Northern and opposite the South Savings will remain until The the benethe fit of the depositors. checks distributed by that time, the receiver the bank next week until the last check has been This the first dividend authorsince the ized bank failed Aug. 25, 1930. Mr. Emery appointed receiver Sept. bank crashed after offi1930. cers had embezzled, $105,000 dissipated, of the bank's the subto mitted to the by the the assets when it closed by department of banking last year. The receiver boosted this amount (Continued Page Fifteen) tee, the
4.October 27, 1931The TimesHammond, IN
Article Text
NORTHERN TRUST SEEK SOLUTION DIVIDEND PAID FOR PROBLEM OF SATURDAY UNEMPLOYMENT
Ten Per Cent Cash For 1716 Depositors of Defunct Bank cash dividend of cent, be paid to 1,716 of the defunct Trust and ings bank of Hammond. Judge Virgil Reiter this mornauthorized David the receiver, to cash The order entered Rae Royce, attorney representing receiver, had presented report Judge Reiter's Superior court showing that $22,000 in cash was available for the dividend. Mr. Emery ly court that he will of o'clock in the quarters the Northern Trust Savings bank, opposite South Shore station. The bank remain open until o'clock evening fit\of the depositors. all checks not distributed by that time, the receiver will remain the bank next week until the last check has been called This is the first dividend authorized for the bank failed 25, 1930 Mr. Sept. 1930. The bank crashed after offihad embezzled, $105,000 of the bank's According the mitted the by the the bank had assets $342,079 when closed by the state department of banking The receiver boosted this amount (Continued Page Fifteen)
Members of State Commission to Talk at Hammond Chamber of Commerce
Hammond's probbe raked with Thursday order find some lution before cold weather sets The chamber of soring the move. It will start Thursday noon chamber an open forum disof Governor Harry will speak. are Dr. of the tee, and Price, chairof the building group. These outline in detail the the Muncie plan, which discussed meeting of state leaders Indianapolis yesterday. Following the speakers' program, the meeting will thrown open an open forum discussion. Then, special be by President Thomas Tennant, will meet draft definite for Hamprogram expected to material degree this winter thus, indirectly, the increasingly cult of poor relief. According to officers, the relief platform of (Continued Page Fifteen)
5.October 27, 1931The TimesHammond, IN
Article Text
NORTHERN TRUST SEEK SOLUTION DIVIDEND PAID FOR PROBLEM OF SATURDAY UNEMPLOYMENT
Ten Per Cent Cash For 1716 Depositors of Defunct Bank cash dividend of 10 per cent, will paid 1,716 the defunct and ings bank of Hammond. Judge Virgil Reiter this mornDavid The order entered after Rae Royce, attorney representing the receiver, had report Judge Superior court $22,000 showing in available for the diviEmery announced that he will o'clock Saturday quarters the Northern Trust Savings bank, opposite the South Shore station. The bank will remain open until o'clock the evening for the fit of depositors. all checks not distributed by that time, the receiver the next week the last check This the first authorized for the bank failed 1930. Mr. Emery appointed receiver Sept. 1930. The bank crashed after officers had embezzled, dissipated, $105,000 of the bank's According the statement submitted to the court the receiver the bank assets $342,079. when closed by the department of banking last year. boosted this amount (Continued on Page Fifteen)
Members of State Commission to Talk at Hammond Chamber of Commerce
Hammond's unemployment probwill be raked with comb Thursday in order find some lution before cold weather sets The of soring the It will start its study Thursday the open forum disthe Two of Governor Harry Leslie's mission will speak. They are Dr. of tee, and will Price, of Muncle, chairthe building trades group. These men expected outline detail the operation of the Muncie plan, which discussed meeting state leadin Indianapolis yesterday. the program, meeting open for forum Then, be by Thomas Tennant, meet draft definite program for Hammond. This program expected to lieve material degree this winter thus, rectly, solve the increasingly difficult problem poor relief. According to chamber officers, the relief platform the (Continued Page Fifteen)
6.May 17, 1932The TimesHammond, IN
Article Text
The first of a series of judgments which will strengthen chances of the defunct Northern Trust and Savings bank for recovery of embezzled sums from Paul B. Lipinski and Boleshaw Salik, imprisoned officials of the bank, has been taken in Hammond Superior court room 1 by David T. Emery, bank receiver.
Totaling $146,596.91, the default judgment allowed by Superior Judge Virgil S. Reiter, partially covers sums alleged to have been lost through crooked manipulations of the two bankers.
7.May 17, 1932The TimesHammond, IN
Article Text
The first of a series of judgments which will strengthen chances of the defunct Northern Trust and Savings bank for recovery of embezzled sums from Paul B. Lipinski and Boleshaw Salik, imprisoned officials of the bank, has been taken in Hammond Superior court room 1 by David T. Emery, bank receiver.
Totaling $146,596.91, the default judgment allowed by Superior Judge Virgil S. Reiter, partially covers sums alleged to have been lost through crooked manipulations of the two bankers.
8.May 17, 1932The TimesHammond, IN
Article Text
JUDGMENTS TAKEN 'GAINST TWO BANKERS
Echo of Northern Trust & Savings Bank Heard in the Superior Court
The first of a series of judgments which will strengthen chances of the defunct Northern Trust and Savings bank for recovery of embezzled sums from Paul B. Lipinski and Boleshaw Salik, imprisoned officials of the bank, has been taken in Hammond Superior court room 1 by David T. Emery, bank receiver.
Totaling $146,596.91, the default judgment allowed by Superior Judge Virgil S. Reiter, partially covers sums alleged to have been lost through crooked manipulations of the two bankers.
9.May 25, 1932The TimesHammond, IN
Article Text
SALIK TO BE BROUGHT FROM PRISON TO TESTIFY
Boleslaw Salik, former cashier of the defunct Northern Trust and Savings bank of Hammond which has been bankrupt for almost two years, will be brought back to Hammond from Michigan City prison on June 14 to testify in another law suit which grew out of the bank failure.
The law suit, now pending in the court of Superior Judge Virgil S. Reiter, involves George Kozin and Andrew Kowach, both residents of Hammond.
Kozin, who is represented by Attorney E. W. Johnson, seeks to recover on a $2,500 mortgage given to him by Kowach on some Hammond property. Kowach, through his attorney, John Cody, will seek to prove that the mortgage was signed only after the defendant had been induced to do so by Salik.
10.May 25, 1932The TimesHammond, IN
Article Text
SALIK TO BE BROUGHT FROM PRISON TO TESTIFY
Boleslaw Salik, former cashier of the defunct Northern Trust and Savings bank of Hammond which has been bankrupt for almost two years, will be brought back to Hammond from Michigan City prison on June 14 to testify in another law suit which grew out of the bank failure.
The law suit, now pending in the court of Superior Judge Virgil S. Reiter, involves George Kozin and Andrew Kowach, both residents of Hammond.
Kozin, who is represented by Attorney E. W. Johnson, seeks to recover on a $2,500 mortgage given to him by Kowach on some Hammond property. Kowach, through his attorney, John Cody, will seek to prove that the mortgage was signed only after the defendant had been induced to do so by Salik.
Salik is now serving a sentence
11.May 25, 1932The TimesHammond, IN
Article Text
SALIK TO BE BROUGHT FROM PRISON TO TESTIFY
Boleslaw Salik, former cashier of the defunct Northern Trust and Savings bank of Hammond which has been bankrupt for almost two years, will be brought back to Hammond from Michigan City prison on June 14 to testify in another law suit which grew out of the bank failure.
The law suit, now pending in the court of Superior Judge Virgil S. Reiter, involves George Kozin and Andrew Kowach, both residents of Hammond.
Kozin, who is represented by Attorney E. W. Johnson, seeks to recover on a $2,500 mortgage given to him by Kowach on some Hammond property. Kowach, through his attorney, John Cody, will seek to prove that the mortgage was signed only after the defendant had been induced to do so by Salik.
Salik is now serving a sentence
12.May 25, 1932The TimesHammond, IN
Article Text
SALIK TO BE BROUGHT FROM PRISON TO TESTIFY
Boleslaw Salik, former cashier of the defunct Northern Trust and Savings bank of Hammond which has been bankrupt for almost two years, will be brought back to Hammond from Michigan City prison on June 14 to testify in another law suit which grew out of the bank failure.
The law suit, now pending in the court of Superior Judge Virgil S. Reiter, involves George Kozin and Andrew Kowach, both residents of Hammond.
Kozin, who is represented by Attorney E. W. Johnson, seeks to recover on a $2,500 mortgage given to him by Kowach on some Hammond property. Kowach, through his attorney, John Cody, will seek to prove that the mortgage was signed only after the defendant had been induced to do so by Salik.
Salik is now serving a sentence of from two to fourteen years on a plea of guilty to embezzling bank funds. Paul B. Lipinski, president of the bank, is serving a similar term. It is not known whether further criminal proceedings will be instituted against Salik if testimony in Judge Reiter's court indicates he caused Kowach to mortgage his property by fraud.
13.May 25, 1932The TimesHammond, IN
Article Text
Boleslaw Salik, former cashier of the defunct Northern Trust and Savings bank of Hammond which has been bankrupt for almost two years, will be brought back to Hammond from Michigan City prison on June 14 to testify in another lawsuit which grew out of the bank failure.
14.May 25, 1932The TimesHammond, IN
Article Text
Boleslaw Salik, former cashier of the defunct Northern Trust and Savings bank of Hammond which has been bankrupt for almost two years, will be brought back to Hammond from Michigan City prison on June 14 to testify in another law suit which grew out of the bank failure.
The law suit, now pending in the court of Superior Judge Virgil S. Reiter, involves George Kozin and Andrew Kowach, both residents of Hammond.
Kozin, who is represented by Attorney E. W. Johnson, seeks to recover on a $2,500 mortgage given to him by Kowach on some Hammond property. Kowach, through his attorney, John Cody, will seek to prove that the mortgage was signed only after the defendant had been induced to do so by Salik.
Salik is now serving a sentence
15.June 28, 1932The TimesHammond, IN
Article Text
DECISION RESTS WITH TWO JUDGES
Hammond will adopt South Bend's bank aid plan if Judges Virgil S. Reiter and Clyde Cleveland approve it, according to some of the local bank receivers and their attorneys who made a special trip to South Bend yesterday to study the scheme in actual operation.
The local group proposes to meet with the jurists some day this week and hold a round-table discussion on the matter.
They were highly impressed with the worth of the plan yesterday after watching it in operation for more than three hours. They found that it has benefited South Bend to such an extent that the plan now is in extensive use there.
Those who made the trip were: Horace S. French, receiver for the First Trust and Savings bank; Harry E. Folk, joint receiver for the Peoples Co-Operative State bank, and David T. Emery, receiver for both the Northern Trust and Savings bank and the Maywood Trust and Savings bank.
16.June 28, 1932The TimesHammond, IN
Article Text
Those who made the trip were: Horace S. French, receiver for the First Trust and Savings bank; Harry E. Folk, joint receiver for the Peoples Co-Operative State bank, and David T. Emery, receiver for both the Northern Trust and Savings bank and the Maywood Trust and Savings bank.
The following attorneys accompanied them: City Attorney Gerald Gillett, representing Mayor Charles O. Schonert; L. L. Bomberger, Wasson Wilson, and Harold Hammond.
Former Mayor A. E. Tinkham represented Timothy P. Galvin, president of the chamber of commerce.
At the conclusion of their study,
(Continued on Page Twelve)
17.June 28, 1932The TimesHammond, IN
Article Text
Hammond will adopt South Bend's bank aid plan if Judges Virgil S. Reiter and Clyde Cleveland approve it, according to some of the local bank receivers and their attorneys who made a special trip to South Bend yesterday to study the scheme in actual operation.
The local group proposes to meet with the jurists some day this week and hold a round-table discussion on the matter.
They were highly impressed with the worth of the plan yesterday after watching it in operation for more than three hours. They found that it has benefited South Bend to such an extent that the plan now is in extensive use there.
Those who made the trip were: Horace S. French, receiver for the First Trust and Savings bank; Harry E. Folk, joint receiver for the Peoples Co-Operative State bank, and David T. Emery, receiver for both the Northern Trust and Savings bank and the Maywood Trust and Savings bank.
18.June 28, 1932The TimesHammond, IN
Article Text
Those who made the trip were: Horace S. French, receiver for the First Trust and Savings bank; Harry E. Folk, joint receiver for the Peoples Co-Operative State bank, and David T. Emery, receiver for both the Northern Trust and Savings bank and the Maywood Trust and Savings bank.
The following attorneys accompanied them: City Attorney Gerald Gillett, representing Mayor Charles O. Schonert; L. L. Bomberger, Wasson Wilson, and Harold Hammond.
Former Mayor A. E. Tinkham represented Timothy P. Galvin, president of the chamber of commerce.
At the conclusion of their study,
(Continued on Page Twelve)
19.March 28, 1935The TimesHammond, IN
Article Text
RECEIVER INDICATES PROGRESS IN 4 YEARS
Maywood and Northern Bank Liquidation Are Nearly Complete
Receivership reports for the Maywood Trust and Savings bank and the Northern Trust and Savings bank, two defunct institutions of Hammond, were submitted today for public inspection in Hammond Superior court by David T. Emery, receiver.
For the Maywood bank, Mr. Emery reports cash receipts of $93,625.65. This was applied as follows: Bills payable, $44,282; preferred and secured claims paid, $6,767; advances to protect assets, $4,011; interest on bills payable, $3,482; cost of operating receivership, $21,384; dividends payable Feb. 1, 1935, $10,938; and cash on hand Jan. 31, 1935, $2,761.
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.
