Ogden Sun | 1905-12-19 | Page 8 | Chicago Bank Disasters

CHICAGO BA DISASTERS wrecking of three institutions will not affect t ogdan the embarrassment ot the chicago national the equitable trust company and the home savings banks of chicago due to the poor investments made by the president of the patent bank has in no way affected the local banks or tightened the local money market the three banks have failed for with assets amounting to but the other chicago banks members ot the clearing house association have gone to the rescue ot the wrecked banks and the depositors are boang paid upon demand the officers of the ogden banking institutions were seen today and asked what effect it any the failure ot the chicago banks would have on the local banks it was learned that none of tao banks were the correspondents of the three banks that failed but that the utah national bank made collections for the chicago national bank and would not be affected all of the local bank officials said that the failure was not due to any financial depression but to the poor judgment of a bank president