Shortfall

by Alice Echols

B&L industry. See building and loan associations (B&Ls); building and loan industry scandal (B&L scandal); thrift industry

  Black Tuesday

  Blake, Vertal Eugene

  blue-sky laws

  Bodfish, Henry Morton

  Bogans, John Henry

  Bold, Christine

  Borah, Joseph

  Bowery Savings Bank (New York)

  Brands, H.W.

  Brentano’s bookstore (New York City)

  Broadmoor Hotel (Colorado Springs)

  Broun, Heywood

  Brown Palace (Denver hotel)

  Bruce, Douglas

  Bruce, Irving

  Bryan, William Jennings

  Buffalo Lodge (Colorado Springs)

  building and loan associations (B&Ls): Colorado Springs; Colorado state laws regulating; different classes of stock and shareholding; distinction between banks and; distinction between savings and investment; early appeal and industry expansion; first industry trade association (B&L League); homeownership; new-style “national” B&Ls; original collective ethos and cooperative movement; original mission and business model; passbooks; self-serving industry accounts and advertising; subversion of cooperative model

  building and loan industry scandal (B&L scandal); attempted prosecutions; bankers’ suicides; California; Chicago; City’s receivership; collapse of the City; Colorado Springs; Colorado Springs’ Depositors’ Committee; Colorado state; congressional hearings and legislation; contributing factors and causes; depositors’ withdrawal requests; dividend payments, final; federal government’s handling of; grand jury investigations; newspapers/press and; post-collapse passbooks and assignment scams; reasons the history isn’t known; receivers’ investigations; receivership vs. liquidation; receiverships; shortfalls; and taxpayers’ associations; Walter Davis and. See also Davis, Walter Clyde (and B&L scandal)

  Bureau of Investigation. See Federal Bureau of Investigation (FBI)

  Bush, Neil

  Calder, Lendol

  California: Beesemyer Bill; B&L industry collapse; conservatism and prototypical qualities; conservative tax revolts; gold rush; passbook scams; Proposition 13 and property taxes

  California Department of Savings and Loans

  Camp Carson (Colorado Springs)

  capitalism, American: capitalist logic of the West’s mining industry; Main Street vs. Wall Street; relationship between capitalism, class, and conservatism; cultural forgetting of “bad capitalism”

  Capra, Frank

  Carlton, Albert E. “Bert”

  Cheyenne Mountain Country Club

  Chicago: B&L industry collapse; unscrupulous bankers; working-class families and home foreclosure rates

  Citizens’ Alliance

  City Savings Building and Loan Association: advertisements; advocates of liquidation vs. receivership; battle over Walter Davis’s insurance money; collapse of; and the CSLC’s assignment scams; depositors’ withdrawal requests; final dividend payments to depositors; lending policies; passbook covers; receivers’ investigation and settlement; receivership; shortfall; Walter Davis’s acquisition of; Walter Davis’s resignation and request for receivership

  class in America; Colorado Springs’ class tensions; cross-class tax revolts of the 1930s; the Davis family in the 1920s; and homeownership; novelists, playwrights, and screenwriters’ depictions; race and; as relational; scholarship on; the “working classes”

  Claus, Howard

  Clinton, Hillary

  coal mining industry; coal wars and Ludlow massacre; Colorado miners’ deaths; and land preservation; miners’ strikes; and the transcontinental railroad

  Cohen, Lizabeth

  Colorado (state): agricultural sector; amendment preventing protected status for sexual orientation; anti-regulation; anti-tax activism; B&L failures; decline of gold-based economy; Depression; early twentieth century fusion of corporate and state power; and the KKK; laws regulating B&L business; opposition to the New Deal; relief programs for the poor; S&L crisis; TABOR

  Colorado Bureau of Building and Loan Associations

  Colorado City; miners’ strikes; as the region’s early industrial hub

  Colorado Coal and Iron Company

  Colorado College

  Colorado Fuel & Iron Company (CF&I)

  Colorado General Assembly

  Colorado Springs (city); Adams Crossing; B&L scandal; Broadmoor development; class tensions; clubs and fraternal organizations; concentration of wealth; conservatism; conservative Christian evangelicals; Cripple Creek gold rush and gold mining; debate over municipal ownership of public utilities; decline of mining and gold-based economy; Depression; as health resort town for rest cures; high-tech industry; homeownership rates; individualism; Ivywild neighborhood; and the KKK; land schemes and projects; Lennon Park development; militarized economy; Millionaires’ Row mansions; North End neighborhoods; opposition to poor relief; organized labor and Cripple Creek gold miners; Palmer and founding of; as prototypical/as prefiguring the American West; right-wing media; service-sector jobs; “Socialites”; speculative culture of the 1920s; streetcar system; streets paved with gold; taxpayers’ leagues and antitax activism; tourism industry; Walter Davis’s arrival in; weekly newspapers and their differences; west side tornado (June 1932); working-class west side. See also Colorado Springs’ building and loan associations (B&Ls)

  Colorado Springs’ building and loan associations (B&Ls); Assurance; Bentall; B&L scandal and industry collapse; Depositors’ Committee; Dollar B&L; Home B&L; and Liberty Bonds; Sharer; Sims; Walter Davis and. See also City Savings Building and Loan Association

  Colorado Springs Chamber of Commerce

  Colorado Springs Company

  Colorado Springs Electric Company

  Colorado Springs Evening Telegraph; and B&L scandal; on Eva Terry; on Sims’s suicide

  Colorado Springs Gazette; and B&L scandal; on B&L suicides; Dorothy Davis pictures; Hoiles’s purchase; and Ludlow massacre; on pensions and relief programs for the poor; and search for Davis’s missing money; striking workers

  Colorado Springs Independent; dissenting to local opposition to relief; and the KKK

  Colorado Springs Liquidation Corporation (CSLC)

  Colorado Springs Mining Exchange

  Colorado Springs Sun

  Colorado Springs Weekly Loans

  Colorado-Philadelphia Reduction Company

  Common Sense Weekly; anti-union; coverage of B&L scandal

  Communists

  Community Chest of Colorado Springs: plan to “repatriate” Mexicans

  Congressional Committee on Mines and Mining (1914 report)

  Connelly, Marc

  conservatism, American: anti-tax activism; California as prototype; Christian evangelicals; Colorado Springs; competing strands; history of; and the military economy; neoliberalism and free-enterprise rhetoric; opposition to New Deal reforms; relationship between capitalism, class, and; Tea Party movement; the West; white working classes and

  Consolidated Space Operations Center

  Conwell, Russell

  cooperative movements; B&L industry’s subversion of model; original B&L model

  Costigan, Edward

  Cowie, Jefferson

  Cragmor Sanitarium (Colorado Springs)

  credit bureaus

  Cripple Creek gold rush; Colorado Springs’ mining industry and mining moguls; decline of mining and gold-based economy in Colorado; miners and organized labor movement; miners’ strike (and defeat)

  Crystal Park Road

  Daniels, Mike

  Davie, Robert P.

  Davis, Allen

  Davis, Dorothy (author’s mother); during B&L scandal; boarding school; early life and parents; and father’s final letter to Lula; and father’s philandering; fiancé Dewey Sample; law studies at University of Colorado; mother’s telegram; plot to kidnap; post-scandal; wedding

  Davis, Lizzie

  Davis, Lula Gilham; during the B&L scandal; and City receiver’s investigation and
settlement; death; FBI investigation and mail fraud charges; final estate tally; Indiana family and background; marriage to Walter; and Roy Davis; secrets and self-preservation; social/class aspirations; stockpiling money; telegram to daughter Dorothy; and Walter’s affair with Eva Terry; Walter’s letters and methods of contact while on the lam; and Walter’s life insurance policies; work in Walter’s office

  Davis, Mike

  Davis, Ray

  Davis, Roy; and B&L scandal; Colorado political career; Colorado Springs’ civic life; and Lula Davis; and Sharer; typewriter shop

  Davis, Walter Clyde; acquisition of City Savings Building and Loan; affair with Eva Terry; arrival in Colorado Springs; career as moneylender; conservative business practices; early life and family; escalating personal expenditures in the 1920s; FBI file; marriage to Lula; photographs; reputation as philanderer/womanizer; self-presentation as lawyer in city directory; silence and taciturnity; social and wealth ambitions; stenographer profession. See also Davis, Walter Clyde (and B&L scandal)

  Davis, Walter Clyde (and B&L scandal); arrest; arrest warrant and embezzlement charges; and City depositors’ withdrawal requests; and the City’s collapse; and the City’s receivership; communications with Lula (while on the lam); contents of safety deposit boxes; criticized by Depositors’ Committee; depositors’ plot to kidnap daughter; and Dollar Building and Loan Association; FBI investigation; funeral; life insurance policies; life on the lam; press coverage; property holding company (Fleming & Company); resignation from the City; and the search for the missing money; suicide and investigation; wanted poster

  Davis, Willard

  Debs, Eugene

  Democratic Party: Colorado; El Paso County; and the New Deal

  Denver Post; coverage of B&L scandal; coverage of Davis’s suicide and police investigation; and El Paso County Taxpayers’ League

  Denver & Rio Grande Railroad (D&RG)

  Depositors’ Committee (Colorado Springs); against federal intervention; tax resistance

  Depression, Great; agricultural sector; American hostility to federal government; bank failures; Colorado Springs; depositors and vigilante justice against bankers; federal regulation and new regulatory regime for thrift industry; manufacturing and production declines; New Deal; poor relief; prosecutions of bankers; reform ideals; and “shortfall” metaphor; social-democratic turn and reforms; steel industry; taxpayers’ leagues; transients and the destitute; the unemployed. See also building and loan industry scandal (B&L scandal)

  deregulation of the thrift industry

  divorce (1920s)

  Dobson, James

  Dollar Building and Loan Association; collapse; shortfalls; Walter Davis and

  Dotson, Mrs. Newton

  Douglas, Ann

  Dreiser, Theodore

  drought

  Eastman, George

  El Paso County, Colorado: Democratic Party; Great Depression; Republican Party; taxpayers’ league (EPCTA)

  El Paso County Taxpayers Association (EPCTA)

  El Paso Industrial Bank

  Elks Club

  embezzlement; Bentall; Los Angeles’s Hollywood Guaranty Building and Loan Association; Sims and; Union Industrial Bank of Flint, Michigan; Walter Davis’s arrest warrant and charges

  Ensign, Edgar

  eugenics

  evangelical Christians

  extractive industries: capitalist logic of the mining industry in the American West; coal; decline of gold production and gold-based economy. See also coal mining industry; gold rushes

  Falch, Andrew E.

  family histories: and author’s investigation of the B&L scandal; Light on; nescience and family secrets

  Farm and Home Association (Missouri)

  Farm Loan Company

  Farmers’ Alliance

  Farnsworth, Edith

  Federal Bureau of Investigation (FBI): Davis investigation; Hoover; and It’s a Wonderful Life; Walter Davis’s FBI file

  Federal Emergency Relief Administration (FERA)

  federal government: congressional hearings and B&L scandal; and Depositors’ Committee; Depression and American hostility toward; handling of B&L scandal; post-crash regulatory regime for thrift industry; privileging of bank customers over B&L members; Western conservatism and hostility toward. See also New Deal

  Federal Housing Administration (FHA)

  Federal Reserve

  Federal Savings and Loan Association (Colorado Springs)

  Federal Savings and Loan Insurance Corporation (FSLIC)

  Federation of Taxpayers’ Associations

  Ferguson, Lillian

  Fertig, Charles: as City receiver and the City investigation; investigation of Lula Davis and search for Davis’s missing money

  FHA. See Federal Housing Administration (FHA)

  First Baptist Church (Colorado Springs)

  First National Bank of Santa Fe

  Fitzgerald, F. Scott; The Great Gatsby

  Fleming, Jim

  Fleming & Company

  Focus on the Family

  Forbes

  Forbes, Fred

  Ford, Henry

  Ford Motor Company

  foreclosures

  Four-Minute Men (El Paso County)

  Frank, Thomas

  Fraternal Order of Eagles

  fraternal organizations

  Freedom School (Colorado Springs)

  Freeman, Joshua B.

  “fringe financing”. See also moneylending (loan sharks)

  Galbraith, John Kenneth

  Garb, Margaret

  Garn–St. Germain Depository Institutions Act (1982)

  General Motors

  General Motors Acceptance Corporation (GMAC)

  Gilham, Lula. See Davis, Lula Gilham

  Gilman, Charlotte Perkins

  Gilpin, Laura

  Glass, Carter

  Gleason, Martin

  gold rushes: California; Cripple Creek; Pikes Peak. See also Cripple Creek gold rush

  gold-based economy, decline of

  Golden, Colorado

  Golden Cycle Corporation

  Golden Cycle Mill (Colorado City)

  Goldwater, Barry

  Gordon, Adam

  Gramercy Park Hotel (New York City)

  The Great Gatsby (Fitzgerald)

  Great Railroad Strike (1877)

  Great Textile Strike (1934)

  Great Western Sugar Company

  Greensburg, Indiana

  Gross, Eli: and B&L scandal; as Colorado state building and loan commissioner; Depositors’ Committee’s calls for arrest of; and Sims’s suicide following Assurance’s collapse

  Gross, S.E.

  Guggenheim, Simon

  Haggard, Ted

  Hamlin, Clarence C.

  Hanford, Peter

  Harding, Warren G.

  Harper, Hugh; and Davis investigation

  Hawkins, Horace N.

  Haywood, “Big Bill”

  Hearst, William Randolph

  “heart balm” laws

  Hecox, P.J.

  Hickok, Lorena

  Hoiles, R.C.

  HOLC. See Home Owners’ Loan Corporation (HOLC)

  Hollywood Guaranty Building and Loan Association (Los Angeles)

  Home Building and Loan Association; advertisements; Bentall and collapse of; receivership; shortfalls

  Home Loan Bank Bill

  Home Owners’ Loan Corporation (HOLC)

  homeownership; African Americans and; and the American dream; and B&L industry’s original mission; fallout from thrift industry’s collapse; FHA; HOLC; home construction and expanding B&L market (1920s); Hoover and; housing bubble of 2008 and the “ownership society”; how B&L home financing worked; New Deal rescue efforts; pre-B&L methods of financing; racially discriminatory lending practices; savings and loan associations and mortgage finance; subprime mortgage crisis; and taxpayers’ leagues; working classes

  Hoover, Herbert

  Hoover, J. Edgar; and Davis investigati
on

  Hopkins, Harry

  Household Finance Corporation (HFC)

  Hunter, Edgar T.

  Hurtado, Albert

  Hyman, Louis

  individualism: Colorado Springs; and the 1920s; and homeownership ideal; ideal of rugged, heroic; and Nixon’s “Silent Majority”; and welfare state; and the West

  Industrial Order of Odd Fellows

  Industrial Workers of the World (IWW)

  installment credit

  Insull, Samuel

  International Association of Chiefs of Police

  Ireland, Clarence

  It’s a Wonderful Life (film); depiction of Bailey Brothers Building and Loan failure; early scripts (discarded); public and critical reception

  Jackson, Andrew

  Jameson, Elizabeth

  Jarvis, Howard

  Jewish Social Service

  Johnson, Edwin C.

  Johnson, John Franklin

  The Jungle (Sinclair)

  Kansas Pacific Railway

  Kazin, Michael

  Kennedy, David

  kidnapping plots (1930s); depositors’ plot to kidnap Dorothy Davis

  King, William B.

  Kistler, P.M.

  Knights of Labor

  Knights of Pythias

  Knox School for Girls (Cooperstown, New York)

  Krause, George A.

  Kreuger, Ivar

  Ku Klux Klan (KKK); Bentall and; and the Colorado Springs Independent

  labor, organized: anti-union Citizens’ Alliance; coal wars and Ludlow massacre; Cripple Creek miners’ strikes and defeat; KKK and unionism; legacies of failed miners’ strikes; New Deal; open shop movement and anti-union business owners; Pratts and the anti-union Common Sense Weekly; print industry unions; radical unionism and Pikes Peak region; suspicion of public-sector workers; unionism of the 1930s; unionists described as “racketeers”; Western Federation of Miners (WFM)

  land speculators

  Lassiter, Matthew

  LeFevre, Robert

  Leven, Harry

  Leven Savings, Building and Loan Association

  Lewis, Sinclair

  Liberty Bonds (war bonds); Walter Davis’s

  life insurance policies: and the B&L collapses; Lula Davis and Walter’s policies; Walter Davis’s

  Light, Alison

  Limerick, Patricia: on capitalist logic of the extractive industry; on the West as “empire of innocence”

  Lindbergh baby kidnapping

  Little, Judge John E.

  loan sharks. See moneylending (loan sharks)