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Bank Peoples Closed Run By Following gradual withdrawal of deposits over period of some time which in the end developed into an outright run, the Peoples Bank of Evergreen was closed Wednesday morning and upon unanimous vote of the board of directors; its affairs were turned over to State Department for liquidation. The bank's doors were closed shortly after ten o'clock Wednesday morning. representative of this newspaper interviewed officials of the bank nesday afternoon and was told that the run was evidently brought on by rumors, that were unfortunately given circulation, coupled with continued depressed business conditions, which had caused loss of confidence among people generally. They stated they regretted beyond any expression of words the unfortunate occurrence, which despite their hard work and honest efforts they were powerless stave off. They said they stayed with the institution and gave the very best they had in an effort to save and protect, not merely their OWN interests, but those of other stockholders and depositors. They are confident that the State Banking Department will find no dishonesty nor mismanagement when an examination made. the sincere opinion of the officers, that with proper liquidation of the affairs of the institution, depositors will be paid in full and substantial sum left for the stockholders. Under the banking laws, all depositors must be paid in full before the stockholders can receive one cent. The Peoples Bank is one of the oldest institutions in this section and has always rated high in banking circles. It was founded in 1901. On June 10, was merged with the First National Bank of this city. The capital stock $200,000 and had was surplus of $100,000. The last publishstatement showed deposits in exof $400,000. representative of the State Banking Department expected here today to take over the bank's affairs.