Author Archive for admin – Page 2

Jesse Jones

photo-Jesse-Jones

Jesse Jones, as chairman of the RFC, approved loans to the Denver & Rio Grande Western Railroad and then directed the railroad company to hire Wilson McCarthy as its president. The photograph, a gift to McCarthy and his wife, was signed, “for my friends Wilson and Minerva McCarthy with great…

Read More

The Dawes brothers

photo-Dawes-brothers

The Dawes brothers controlled the hopelessly insolvent Dawes bank, which was bailed out by the Reconstruction Finance Corporation. (Courtesy, Library of Congress)

Owen Young partner of Charles Dawes

photo-Young-Dawes

Owen Young (right), chairman of General Electric and partner of Charles Dawes, used his considerable influence to ensure the bailout of the Dawes bank. Young and Dawes (left), chairman of Central Republic Bank and Trust Company of Chicago, waiting to testify before the Senate committee investigating the Samuel Insull fiasco….

Read More

Run on Chicago National Bank

photo-ChicagoNationalBank

Depositors’ run on John Walsh’s Chicago National Bank in 1905. Walsh, who was the partner of Charles Dawes and Samuel Insull in several gas deals, served three years at the federal prison at Fort Leavenworth for issuing fraudulent call reports, which concealed the massive insider abuse at his failed bank….

Read More

Depositors’ run on LaSalle Street Trust and Savings Bank

photo-LaSalleStreetTrust

Depositors’ run on William Lorimer’s LaSalle Street Trust and Savings Bank, which collapsed in 1914 because of insider abuse and fraud. (Courtesy, Chicago History Museum)

Senator William Lorimer

photo-Lorimer

U.S. Senator William Lorimer of Illinois, a Chicago political boss who engaged in an elaborate bank fraud conspiracy with Charles Dawes in 1912. (Courtesy, Library of Congress)

Taft, Harding and Lincoln

photo-Taft-Harding-Lincoln

Robert Todd Lincoln (right) at the dedication of his father’s memorial in 1922, along with Chief Justice and former President William Howard Taft (left) and President Warren Harding (center). (Courtesy, Library of Congress)

Senator Lawrence Sherman

photo-Lawrence-Sherman

U.S. Senator Lawrence Sherman of Illinois received a monthly retainer from Samuel Insull, who made the secret payments through Robert Todd Lincoln’s law firm. (Courtesy, Library of Congress)

Charles Dawes & Calvin Coolidge

photo-CDawes-CCoolidge

Charles Dawes (right), the U.S. Vice-President under Calvin Coolidge (left), abused his position as president of the Reconstruction Finance Corporation and committed fraud to survive the Chicago banking panic of 1932. (Courtesy, Library of Congress)

Samuel Insull

photo-Samuel-Insull

Samuel Insull, the “emperor” of Chicago, controlled a utility empire with assets of $3 billion in depression-era dollars. (Courtesy, Loyola University Chicago Archives)