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MEDINA BANK IS CLOSED State Superintendent Takes ChargeShrinkage of Cited. MEDINA Central Bank Medina Monday the request the board directors. This action. was the heavy owned the bank directors held several The Central is charge of the Medina National bank failed in 1904
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Orleans County BANK PLANS TO REORGANIZE Money Is Brought to Other Institutions in Village. MEDINA Central Bank of the due the cline the that within few days definite plans for the future State Banking departthis of Banks Joseph that he has today taken the the business of the Bank the visions section the of the board of institution Because the condition and depreciation in the its ent permit institution to conThe shown by the the Oct 1931. was about the decline the bond market To any Union bank Medina brought from the Federal take of money guards. few depositors The bank the dina and Loan branch of this
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MEDINA CENTRAL BANK PLANS TO REORGANIZE Money Is Brought to Other Institutions in Village. BUFFALO EVENING MEDINA Nov. Central Bank closed the tendent banks Monday about few The depart Banks Joseph that he has the the and the Central Medina of the and the to The deposit liability shown by business Oct the Union the money in armored accompanied guards. depositors withdrew The prepared take the association branch of SOCIETY GIRL FLYING ON NAIROBI Nov England Cape arrived Entebbe Uganda day
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CENTRAL BANK, MEDINA, TAKEN OVER BY STATE Examiners report other financial institutions of village in good shape Special to Courier-Expre Medina, Nov. interest was manifest here today in the election as Medina coming were excited over the closing of the Cenperintendent Tral Bank of by the state suof banks. The bank ceased business this morning at the request of the board of directors This action was taken in the interest of depositors, as the shrinkage of securiMes, bonds owned by the bank, was so great that such steps were After a meeting last night of directors and other citizens, which until early this morning, the state of banks asked to take over the bank and the institution is now in the hands of that officer. The state banking department issued this statement: tendent of Banks Joseph that has today taken over the Cen MeBank of the the of of the of the and in of its assets unsafe and to permit this to Liability of $1,500,000 The deposit liability, as shown by the books as of the close of business October 31, 1931, is about $1 000. Because of the depreciation in bonds, it is difficult to estimate the bank's assets. is the reorgan ization within of the bank will take place a few days The officers of the Central Bank of Medina are: President F. secretary E. Roland Clark; cashier and assistant cashier, Raymond Fellers. The directors of the bank are the officers and William L. Bennett and Leroy Skinner. Mr Skinner is also the The oldest Union Bank of Medina, one of the banking institutions the country, was also examined by in the state inspectors and found to be in excellent condition. they report This same prevails in the Medina vings & Loan Association, a branch of the Union bank Because fear there might be run on the Union when the news spread about the financial condition of the Central bank an armored car with five arrived in Medina this noon and $1,000,000 was deposited in the Union bank. This was due to the foresight of the Union bank's officers. There were very few withdrawals from the Union bank. Provision has also been made to take care of any from the Medina Savings & Loan Association, officials report.
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MEDINA CENTRAL BANK PLANS TO REORGANIZE Money Is Brought to Other Institutions in Village. MEDINA Nov. Central Bank of Medina, closed by the state superintendent banks Monday morning, brought about by the cline in the bond that days plans for future will nounced. The State department made of Banks Joseph A. Broderick that he has today taken over the of the busiand the Central Bank visions section 57 the banking the request the board of directors condition in the deemed and ent to permit this institution to conThe deposit liability, shown by the of Oct. 31, was $1,500,000. is the the decline To prevent run. the Union bank had brought from the Federal to take care The money came in armored car, accompanied five guards. depositors withdrew funds. The prepared care any the and Loan branch this bank. HOLLENBECKS ARE DIVORCED ALBION, Hollenbeck has granted interfrom Ross by Clinton Horton Supreme