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BANK PRESIDENT MAY QUIT; U. S. ASSUMES CONTROL Closing Of West Virginia Bank Follows Run On Institution Started By Sudden Resignation Of Official. Parkersburg, Oct. 6.—By an order of the board of directors, the Parkersburg National Bank, one of the principal banking institutions here, did not open its doors for business today, and two representatives of the national bank examiners have taken charge of its affairs. Little information could be obtained as to the financial situation of the institution beyond a statement by Thomas C. Young, the president, that there had been "misappropriations of the funds and irregularities." The officers refused to supplement Mr. Young's statement. No arrest has been made. As far as could be learned, none is expected, at least not until after the tangled affairs of the bank are straightened out by the examiners. The condition is believed to be the aftermath of a run on the bank last June, when Charles P. Lukens, the assistant cashier, resigned suddenly. Depositors demanded their money after the news of the resignation was broadcast through the town. Reassuring statements from officials, however, quieted the irate depositors and the run was stopped. Since that time the bank has published no statement as to its condition, and bank examiners are known to have made several visits. Their last inspection of the books began yesterday. When depositors reached the doors this morning they were closed, and the notice that the bank would not be open had been posted. The notice follows: "Closed by order of the board of directors. The national bank examiner has taken charge." Mr. Young, who is in the real estate business, seemed distraught when interviewed today. It is rumored that a radical change in the bank's management will take place Monday. Mr. Young's resignation as president is momentarily expected. Stephen L. Newman, chief bank examiner, and Harry D. Davenport, both of Philadelphia, are at work on the books. They refused to say whether the "misappropriation of funds and irregularities will mean any financial loss to the depositors. M. F. Hamill is cashier, and his son, A. C. Hamill, is assistant cashier. They are aiding the examiners in their work, but refused to make any statement other than to confirm that made by Mr. Young. The bank is capitalized at $50,000 and has approximately 1800 depositors, most of whom are employes of the Parkersburg Iron Works. The iron works is the principal industry of the town, which is located on the main line of the Pennsylvania Railroad, forty-four miles from Philadelphia.