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FIRST STATE BANK OF ALLIANCE IN HANDS DEPT TRADE AND COMMERCE Was Considered One of the Strongest Financial Institutions in Western Its Doors Monday After There Had Been Withdrawals of More Than $360,000 Within the Past Sixty Days, a Drain That Practically No Bank Could Withstand. of this city on last Monday morning after there had been withdrawals from the bank within the past 60 days of more than $350,000 and It was more than the bank could withstand It has deposits of more than $760,000 and the assets of the bank were in excess of $800,000 and If the proper man is placed in the bank as receiver every dollar will be paid back to depositors. The bank was solvent state the officers and there was no reason for closing except that the withdrawals due to rumors circulated. The First State bank up to within 60 days was in a favorable financial condition and better than It had been since its organization with deposits in excess of lion dollars The recent supreme court decision had fendency to hurt and the failure of the Chadron State bank. the Ravenna State bank and the State Bank of Bayard. the Harrison bank located near Alliance led to the unrest of the people in this community and the withdrawals The bank was prepared to meet any normal withdrawals but the run continued to grow and there seemed to be no checking in the face of the rumors that had been circulated Repeated efforts had been made by the bank officials to check the run on the bank. Mr. Brittan of the bank states that the family practically owned the bank, holding more than $100,000 of the stock besides their private savings which run up into the thousands of dollars and were prepared to meet any ordinary withdrawal. Mr. Brittan says to have remained open longer would have probably meant a 1088 to the depositors and after conferring with interests here and at Omaha It was decided to turn it over to the state banking department to adjust the af fairs and he and the other officers tor. This bank has played a prominent part in the business interests of AIliance and Box Butte county and did as much or more for the agricultural (Continued on page five)
