University Club of Chicago, 1932

Chicago: Club House, 1932. Paper Monograph. Very Good. 12mo - over 6¾" - 7¾" tall. 208p. A rare copy. Although copies of earlier years exist in Chicago, Stanford and the Wisconsin Historical Society, there are no recorded copies for the year 1932. The club was founded in 1887 after two years of planning to have a gentleman's club that would promote literature and the arts. They would establish a libray, an art gallery and related cultural benefits. The members in this year included Amos Alonzo Stagg, Frank O'Hara, Roscoe Pound, James Breasted, Edgar Goodspeed as well as the notable families of Armour, Swift, and others. During Chicago's panic in June 1932, bank failures reached epidemic proportions when forty-two banks collapsed . Panic in the Loop proves that each and every bank that failed did so because of massive insider abuse and fraud. Bank officers and directors engaged in illegal and unsound practices that encumbered every one of the banks with reckless loans and unsafe securities investments including utility tycoon Samuel Insull who was a member of the club. Laid in is copy of officers of 1933-34 and a copy of the club rules. (Inventory #: 018093)