Another Jolt from the Bankers

Continental's rival First Chicago, discloses a huge loss

When Chicago's Continental Illinois collapsed last July into the arms of federal rescuers, moneymen across the country began nervously worrying about problem loans at other big banks. But they at least could take heart in the fitness of banks like Continental's archrival, First Chicago (assets: $40.5 billion). Located just three blocks from Continental in the downtown financial district, First Chicago seemed like a monument of strength. While many other big banks were posting shaky profits, it announced in July a second-quarter earnings gain of 23%...

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