a2dcf894Full suspension, Books examined
Other: State superintendent/examiner took charge and bank went into liquidation
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BANK CLOSED. Oct. Merchants and Farmers' Bank Blanchester, Clinton county. closed doors the public shortly before noon today the order of its president. Crossley, to curb threatened on the bank's deposits, cording to Blair. superintendent banks. So far as Blair the bank solvent.
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BLANCHESTER BANK CLOSES; FEAR RUN COLUMBUS 23 (INS) The Merchahts Farmers Bank at Clinton closed its doors the public shortly before noon today after the order of its president Crossley curb threatened run the bank Blair superintendent of state banks Blair stat. ed that Crossley informed him that the reason for the closing was threatened run on the bank brought about by rumors of the bank's far Blair knows the bank He sent state bank examiner Sharp to Blanchester take over the Bank pending thorough investigation
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BANK IS CLOSED Examiner to Take Charge of Blanchester Institution By Post State Wire. COLUMBUS, O., Oct. chants & Farmers Bank of Blanchester closed today by its threatened run the bank, caused fecting confidence. nounced by the State Banking partment Blair. state superintendent Clyde Sharpe take charge of the bank had $50,000 capital and total Williams is cashier.
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BLAN BANK TO OPEN FOR SOME BUSINESS Depositors of funds at the Mer chants and Farmers Bank at Blanchester, which closed its doors Tuesday after a heavy run. have been requested to leave their pass books at the bank at the earliest possible moment for balancing. Holders of certificates of deposit should also take them to the bank for examination, at once; officials explain. All persons who may have claims against the banking company, are required according to law to present them at the bank and to make legal proof of the claims before December 1, if they are to receive payment. According to E. H. Blair, State Superintendent of Banks, all persons having left effects for safe keeping in the bank should bring their receipts to the receiver in charge of examination. Holders of safety deposit boxes will be allowed to procure their holdings at any time after Monday, when the bank will be open for transaction of business. The bank will be open from 8:30 A. M. until 4:30 P. M. each day after Monday until the legal time limit set for this business elapses.
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PROBE BANK CLOSING Ask 100 Per Depositors Cent Adjustment in Blanchester Case. WILMINGTON, Dec. lowing two meetings of holders and depositors of the Merchants' and Farmers' bank at Blanchester, an effort will made to obtain an independent investigation of the closing of the bank after the state call was issued Oct. There were $118,000 in deposits the institution, stated. The bank is in charge State Superintendent H. Blair. The bank suspension followed run which continued for some time. Depositors are calling for 100 cent 1924 the former president of the bank resigned, stated, and the bank was declared solvent at that time. An investigation of ditions, however, is sought by the depositors.
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BANK INVENTORY FILED IN COURT DAILY STATEMENT OF BLAN. CHESTER BANK AT TIME OF CLOSING GIVEN The inventory in the matter of liquidation of the Merchants & Farmers Bank at Blanchester, which closed its doors, October 23, after heavy run, has been filed in Common Pleas Court by EF H. Blair, State superintendent of banks. The following is the daily statement of the bank at the time of closing, October 23. Assets Loans on real estate 8,061.39 Loans on collateral 80,657.76 Other loans and discounts* 3,900.00 bonds and certificates State, county and municipal 7,600.00 Other bonds bonds, stocks and se25,929.00 curities and lot 44,084.54 Banking Furniture house and fixtures. 6,500.00 3,056.65 Central Trust Co. 81.89 Hanover National Bank 88.42 Union Trust Co. account Tax Tax and expense 2,620.08 Interest on deposits 140.85 Other interest paid 3,946.07 Cash 200,903.24 Total Liabilities 50,000.00 Capital 1,000.00 Surplus profits 695 for depreciation on 161.64 loans Individual deposits 71,646.34 860.89 2.00 Time certificates deposit 11,410.16 Savings deposits Christmas savings Bills payable Exchange 2,107.7 Interest 3.00 Box rent 150.00 Bond interest 1,056.65 Building rent safekeeping 3,900.00 Securities for 200,903.24 Total
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MERCHANTS FARMERS BANK TO PAY DIVIDEND The Merchants & Farmers Bank, of Blanchester, which closed its doors in October. 1928, following heavy run, will declare a 40 per cent. dividend to depositors, May 15, C. C. Stevenson, who is in charge of the bank, declared, This unusually high first divi- dend is in spite of the fact that not all money due the bank has been collected, at present. nor have all assessments been paid. In addition, considerable real estate belonging to the institution is yet the be sold. Depositors of the bank have reason to look forward to future dividends, Mr. Stevenson states, and probably nearly 100 per cent. will be paid to depositors when liquidation proceedings are closed. The bank has been in process of liquidation since October 23, 1928, when State Superintendent of Banks E. H. Blair closed the institution. The first dividend brought joy to the hearts of all depositors. As soon as assessment and other assets of the bank are turned into cash additional dividends will be paid.
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DIVIDEND IS DECLARED BY CLOSED OHIO BANK WILMINGTON, April 27-The Merchants & Farmers bank of Blanchester, near here, which closed its doors Oct. 23, 128, after a heavy run of depositors, declared a 40 per cent dividend to depositors today. The dividend will be paid May 15.
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CLOSED BLANCHESTER BANK PAYS DIVIDEND Wilmington, O,, April 29-The Merchants and Farmers bank of Blanchester, near here, which closed its doors October 23, 1928, after a heavy run of depositors, has declared a 40 per cent dividend to depositors to be paid May 15.
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JUDGE APPROVES OF STOCK FAPMER'S AND BANK AUTHORIZED TO TO SELL SHARES Application of the Merchants and Farmers Bank at Blanchester, now in process of liquidation, to sell stocks held the has been granted by Judge M. Clevenger The superintendent in charge of liquidation sold 44 shares of Blanchester Coal and Feed Company to H. H. Van Meter. The price was $440. The bank its doors after a heavy run October 23, 1928.
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COURT ORDERS SALE OF BANK FIXTURES Real and fixtures of the defunct Merchants and Farmers Bank of Blanchester will be offer sale. an order in Common Pleas Court has directed. The property was offered for sale in May 1928. but was not sold The property will be advertised as soon as possible and the sale con ducted by W Miller. Assistant State Superintendent of Banks who is in charge of the liquidation of the Blanchester bank, The bank closed its doors afte heavy run in October. 1928
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DIVIDEND IS GIVEN TO BANK DEPOSITORS WILMINGTON, O., June dividend of 16 2-3 per cent was given depositors of the Merchants and Farmers bank at Blanchester, near here, today. The bank closed after heavy run in October, 1928, with slightly more than $3,000 in cash remaining in the bank. Stockholders have been assessed 140 per cent. A dividened of 40 per cent was given depositors several months ago. No efforts have ever been made to the bank.
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DIVIDEND IS GIVEN TO BANK DEPOSITORS Wilmington, O., June 27.-A dividend of 16 2-3 per cent was given depositors of the Merchants and Farmers bank at Blachester, near here, today. The bank' after heavy run in October. 1928, with slightly more than $3,000 in cash remaining in the bank. Stockholders have been assessed 140 per cent. A dividend of 40 per cent was gievn depositors several months ago. No efforts have been made to reopen the bank.
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BLANCHESTER BANK CHANGES DEPOSITORY Depositors To Be Awarded 16 2-3 Per Cent. In Few Weeks The First Citizens Trust Company of Columbus, has been made depository for the Merchants and Farmers Bank at Blanchester which closed in October. 1928. after a heavy run. The Ohio State Bank. at Wash ington C. H., was originally named depository but it also closed its doors several weeks ago. A 16 2-3 per cent. dividend declared for depositors Friday will be awarded in about three weeks, according to officials of the state banking department.