Scared, in dangerous situation for 1920s Chicago Feds (7)
I believe the answer is:
alarmed
'scared' is the definition.
(alarming is a kind of scaring)
I can't explain the remainder of the clue.
Can you help me to learn more?
(Other definitions for alarmed that I've seen before include "like Icarus as wax melted?" , "Frightened, disturbed" , "Filled with apprehension" , "Fear-stricken" , "as a door handle may be?" .)