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DEMOCRATS HIT BANKING CHANGE
Local Aspirants Disappointed as Lebanon Man Succeeds Bowman.
Bitter disappointment was voiced among local Democrats today because the appointment of a successor to Charles F. Bowman, deputy receiver for the Agricultural Trust and the Lancaster Trust companies, went to a Lebanon man instead of to one of the long list of local aspirants.
Charles E. Gebhard, an employe of the State Department of Banking, got the appointment, according to an announcement last night by Luther A. Harr, State Secretary of Banking.
Lancaster Democrats, aside from the fact that they lost the "plum," insisted today the affairs of the banks require the direction of a local man who is acquainted with local conditions, especially real estate. The deputy was liquidating only the trust fund at the Lancaster Trust.
Formal Notice to Bowman
Formal notice of his removal was contained in a letter to Mr. Bowman from E. J. Buckley, head of the Division of Closed Banks. Mr. Buckley wrote, in part:
"Dear Mr. Bowman: In accordance with the instructions received from the Secretary of Banking, I am writing this letter to inform you that he has seen fit to revoke your appointment as Deputy Receiver. In your place he has appointed Mr. Charles E. Gebhard.
"Dr. Harr has asked me to express his appreciation for the work which you have done in the past and to advise you that your salary will continue for fifteen days after the effective date of this appointment, which is as of the close of business April 15."
Mr. Bowman said today further liquidation centers largely around the disposition of real estate holdings, the market for which has quickened within the past several weeks. Two sales were completed last week, it was understood.