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FIRST NATIONAL KEYSTONE STATE BANK IS CLOSED PENNSYLVANIA INSTITUTION IS SUSPENDED MANY DEPOSITORS ARE LABOR. ERS AND ARE ALARMED Various Rumors in Circulation at New Kensington and Big Scandal Expected-Hope Expressed Doors Will Open EW KENSINGTON, Pa., Nov. 7.At the close of business today N National Bank Examiner Cunningham posted a notice on the doors of the First National bank of this place that the bank had been closed by order of the comptroller of the currency. This action. it is said, was a surprise not only to the depositors but to the officials of the bank. No reason is assigned. At the time of its last statement the bank had $300,000 in deposits. It was organized in 1893 with a capital of $50,000 and surplus of $10,000, and has since considerably expanded. The directors will confer tomorrow with Mr. Cunningham. The belief is expressed that the bank will reopen next week. All Appeared Normal Everything appeared in a normal condition when the bank closed, although many rumors of shortages have since been circulated. It is reported that at the last regular examination there was a flaw in the accounts, later adjusted. This is denied. Rumors late tonight are to the effect that the bank has violated the state laws and that a big scandal is pending. A great many depositors will be affected if the bank is unable to pay off, as many of its patrons are laboring people. Directors of the bank stated tonight the bank would reopen, and professed ignorance as to the cause of the failure, but gave evasive answers when questioned as to the rumors. There is considerable excitement as a result of what is feared may be permanent insolvency.
