Chicago's Stevens family hates publicity. And until last November when Stevens-controlled Illinois Life Insurance Co. tumbled into receivership with $150,000,000 in policies and $13,000,000 in Stevens-owned hotel mortgages frozen tight in its portfolio, the Press let the Stevenses pretty much alone. Since then their financial doings have blossomed into a major Chicago scandal. Last week auditors told the receiver just how much these doings had cost Illinois LifeĀ$12,456,409, about one-third its assets.
For several months both State and Federal authorities have been digging into the long chain of manipulation which led to the...
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