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SARATOGA BANK CLOSED. Run on the Citizens' National - Confidence Restored. SARATOGA. N. Y., June 27.-The First National Bank of Saratoga was not opened for business today. A notice. signed by National Bank Examiner Van Vranken and posted on the door, stated that at the request of the directors and by order of the controller of the currency, the bank was closed. A run on the Citizens' National Bank, which was begun Saturday, was continued today by the small depositors. The run led many to be apprehensive of a financial raid by small depositors on the First National Bank. The announcement last Saturday in the local newspapers that William H. Bockes, for many years cashier of the First National Bank, had been superseded as cashier by ex-Village President Robert F. Milligan, led to many conjectures that added to the local excitement. One of the First National Bank directors, on being interrogated in regard to the closing of the institution, today said: "We felt yesterday that our bank would undoubtedly be compelled to meet a run, and we did not have money enough on hand to meet such a run as the Citizens' National is having now, and not having sufficient time to procure the needed financial assistance to meet all demands that might be made, we requested the controller of the currency, through Bank Examiner Van Vranken, to close our bank, and thus avoid the run. The deposits in our bank reach over $700,000. The suspension is but temporary, I hope." The run on the Citizens' National ended at 11 o'clock today. Many depositors who drew out funds are again depositing. The First National Bank of Saratoga Springs, N. Y., was closed today by direction of the acting controller of the currency. A run was started on this institution on Saturday, and as it was not in a condition to meet its demand liabilities the examiner was instructed to not permit the bank to reopen this morning if there was any Indication of a renewal of the run. Tte national bank examiner, Josiah Van Vranken, has been appointed receiver. The following is a statement of the resources and liabilities of the bank, as shown by its last report of 1904: condition to the controller, dated June 9, Resources: Loans and discounts, $932,503; United States bonds, $125,000; bonds, securities, etc., $51,605; real estate, $82,622: due from other banks and bankers, $46,911; cash and cash items, $61,609; total, $1,300,253. Liabilities: Capital stock, $125,000; surplus and undivided profits, $90,680; circulation, $125,000; due to banks and bankers, $29,016; deposits. $764,320; rediscounts and bills payable, $166,235; total, $1,300,253. Owed Depositors $890,000. NEW YORK, June 27.-The First National Bank of Saratoga Springs, according to a recent statement, owed depositors $890,000. Its paid-up capital was $125,000, and it had among its assets $1,018,000 in loans, discounts, stocks and securities, and $100,000 in cash and exchanges.
