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ings, SO no dividends were declared, all the earnings being passed to the surplus fund to enlarge the working capital of the bank. In 1898 the then Bank of Gloster retired from basiness, the Commercial Bank soon there after, amended its charter and changed its name to the Bank of Gloster. After a few years the earnings of the bank had increas ed the surplus fund to amount which enabled the bank to double its capital stock making it $50,000, this gave it greater prestige in banking circles and for years it was regarded as one of the strongest country banks of the state, making handsome profits, whish all passed to the surplus funds to increase the working capital. When the boll weevil came the bank had out large loans, many of which proved bad investments, the bank lossing heavy tnereby, this with the general depression hurt the bank but with all this, it is believed they could have safely pulled through had it not been for many failures of other banks in near by sections, which gave the depositors a feeling of unrest caus ing them to constantly withdraw their deposits, until the amount on deposit was reduced from $147,000 to some $70,000 in less than twelve months. A big part of the bank's securities being on land, which as a basis of value at this time is very low, it was impossible to raise funds to meet the heavy withdrawals. At the close of business Friday the officers saw that the bank was doomed unless some unforseen aid came, and the Cashier was instructed to keep all deposits made Saturday separate that it may be returned should the failure come. After Saturday it was plain that a receiver would have to be asked for, although the assets did ex ceed the liabilities more than two to one. The failure of this bank is the most serious blow that has ever struck Gloster, besides the hardship on the depositors, it means the passing of an institution which has been of untold benefit to this section. No bank had a more accomodating and obliging set of officers than this bank, who were always ready and anxious to extend aid to any worthy applicant, and out of the mist of the failure no finger of scoin
