Article Text
BANK CLOSED Altoona, Feb. Mountain Trust Company closed today by order of the State Banking run on the resulted when the Union Bank private closed early this week.
18472. Mountain City Trust Company (Altoona, PA)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- trust company
- Start Date
- February 27, 1931
- Location
- Altoona, Pennsylvania (40.519, -78.395)
Metadata
- Model
- gpt-5-mini
- Short Digest
434f0d04
Response Measures
Full suspension, Books examined
Description
Multiple contemporaneous wire reports state a run began after the Union Bank (a private Altoona depository) closed; the State Banking Department ordered the Mountain City Trust Company closed and a receiver was appointed. The bank did not reopen and remained in receivership (later described as defunct), so this is a run that led to suspension and permanent closure/receivership.
Events (4)
1.
February 27, 1931
Run
- Cause
- Local Banks
- Cause Details
- Withdrawals and a run were triggered by the earlier closing of the Union Bank of Altoona (a local bank), prompting depositors to withdraw funds from Mountain City Trust.
- Measures
- Bank opened in the morning but was unable to stem heavy withdrawals; state examiners intervened (books examined) and later closed the bank.
- Newspaper Excerpt
- A run on the bank started when the Union Bank of Altoona, a private institution, closed early this week.
- Source
- newspapers
2.
February 27, 1931
Suspension
- Cause
- Local Banks
- Cause Details
- State Banking Department closed the bank after heavy withdrawals (run) that began when the Union Bank closed earlier in the week. Closure was by regulatory order following the run.
- Newspaper Excerpt
- The Mountain City Trust Company was closed today by order of the State Banking Department.
- Source
- newspapers
3.
February 28, 1931
Receivership
- Newspaper Excerpt
- George L. Taylor, special deputy of the state department of banking, appointed receiver for the Mountain City Trust company... will conduct appraisal, audit before deciding to reopen or liquidate.
- Source
- newspapers
4.
December 19, 1931
Other
- Newspaper Excerpt
- No Time Set For Payments ... creditors of the defunct Trust company ... when they will receive payments on their deposits is not known.
- Source
- newspapers
Newspaper Articles (15)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
MOUSE AIDS IN FIVE ARRESTS Hole It Gnawed in Stolen Sack of Flour Gives Police a Clew. By the Associated Press. HAMMOND, Ind., Feb. 27.-A pilfering mouse was credited today with furnishing the clew that led to arrest of five Crown Point youths. The J. Baldwin feed store was robbed of flour, but a mouse had gnawed a hole in the corner of a flour sack. and when the sack disappeared later the police followed a train of flour to the home of George Goff. 18 years old. Deputy sheriffs arrested Goff. Clifford Rosenbaum, 18; Louis Lindsey, 26; Walter Steinbach, 25, and Edward Spencer, 17. Others are sought. Run Closes Altoona (Pa.) Bank. By the Associated Press. ALTOONA, Pa., Feb. 27.-The Mountain City Trust Co. was closed today by order of the State Banking Department. A run on the bank started when the Union Bank of Altoona, a private depository. closed early this week. In statement at the close of last year, the bank reported capital and surplus of and total resources of $2, Liabilities, including capital stock, totaled $162,-
Click image to open full size in new tab
Article Text
Father Follows Tip That Girl Is Captive Parent Of Virginia Brooks And Sheriff's Party To Search Arizona Mountains Yuma, Ariz., Feb. 27 (U.P)-Reports that Virginia Brooks, 10, missing San Diego schoolgirl. was captive in mountainous region of northern Yuma county, sent J. F. Brooks, the girl's father, and party of searchers into the district today. Brooks, acting on a "tip" that his daughter was held in cabin by "an old man," came from San Diego and went to the scene. He was accompanied by Sheriff Roberts, of Imperial county, California: Sheriff J. C. Hunter, of Yuma county, Arizona and newspaper men. Because the party will have to travel over the worst part of the Arisona desert, it was expected that no news would be received until late today. Another Altoona Bank Closes Altoona, Pa., Feb. 27 (/P)-The Mountain City Trust Company was 50c Week closed today by order of the State This Banking Department. A run on the ular fine price. 15-jewel watch Mesh Bulova pop. bank started when the Union Bank of attached. band Altoona, private institution, closed early this week. In statement at the Trade in your old watch close of last year the bank reported capital and surplus of $437,962.50 and total resources of $2,497,440.44. Liabilities. including capital stock, totaled $162,962.50.
Click image to open full size in new tab
Article Text
BANK IN ALTOONA CLOSES AFTER RUN ALTOONA, Feb. 27 (AP)-The Mountain City Trust was closed by order of the State Banking Department. A run on the bank started when the Union Bank of Altoona, a private institution, closed early this week. In statement at the close of last year. the bank reported capital surplus of $437,962.50 and total resources of $2,497,440.44 Liabilities, including capital stock, totaled $162,962.50.
Click image to open full size in new tab
Article Text
TEXT OF INDICTMENTS form mies of internationtext the indictment against fourteen Soviet economists charged against the Soviet regime was published here today. The indictment to words. Prepared the Soviet ORDER BANK CLOSED torney general. Krilenko. Altoona, Feb. 27 similar in to the indictment Mountain City Trust company the recent sensational counterclosed today order of the state revolutionary and sabotage trial department. run Professor Leonid and the which of institution. the interest of the world few closed early this week. months ago.
Click image to open full size in new tab
Article Text
Rock Island May Reduce Dividend The probability is that the Chicago. Rock Island & Pacific Railway will declare a dividend of $1.25 on common stock at the meeting of directors next Wednesday It likely the St. Louis-San Francisco Railway will declare dividend of $1 on common at their meeting on the same day. Rock Island has been on $7 annual basis and St. Louis-San Francisco on an $8 basis. Investment Trusts Gardner GenATank GenAsphalt Bronze Net Net Stock Low Close. Stock High. Closing Stock Prices CrC&S 100 Mar 400 231/4 Crown Zeller 32% 23 Marl Rk 4e 200 Volume to Yesterday's 600 800 32 CubanAm Sug 32% Marshall 10 Marmon M Low Stock Low 46 41 Martin Parry Abitibi P 12% 100 Curtis Pub 89% thieson 1000 CurtisPu May Store Abr 200 54800 Maytag Adams 3900 Curtiss Maytag Addrsgph 40 41 30% Cutler Ham Maytag Adv Rumely 9700 Melville Do 23 Davison Mengel Adv Rum 2500 20% Deere MetGld pt Ahumada 400 Hud 154 Mex Seaboard Reduc 4800 300 Miami Cop Den&RioG pf 200 Mid Cont Alaska Dia Match 26700 Midland Stl Minn M Mines DominSt MKan&T 3m Drug Inc MK&Tex pf following quotations obtained AllisChalm Mo Pacific from and There Dupont 1211/2 Pac pf are no AmalLeath Asked MohawkCar Amerada MonsanC East Corp. Mont Ward Eastman Motherlode Stocks AmBkSh Boat Motor Mullins Mfg AmCar&F Stor Munsingwr Brandt Murray Corp EndJohn Nash Mot EngPubS Nat Acme Bell Gen Bdg NatBellH Nat Bis Evans Auto NatDairP Exchange Distill Fairbanks Enamel FairbksM FedL&T Radiator Steel Mot Screw Supply FedWatS Surety NeisnerBr Firest Nevada Cop Newton NYAirBk NYCentral NYNH&H Equit Pacific Ohio Industry Omnibus Mills Priced Owens GenPubSer Coast 100 1/2 Light Packard Pan-Am Pet Panhandle Gimbel Glidden ParkUtahCop Armour Gobel Adolf Parmelee GoldDust Pathe Armour Goodrich Pathe Arnold Goodyear Peerless Mot AssoApparel Goth Silk Gould Penick Dixie AssoDG D Cem Grand-Sil Penny AtlanCstL GrandUn Drug Ref GraniteCySt Marq Petrolm PhilaC Sales Phila Read Aviation Philips Pet Pierce Oil Steel BaldwinL Pierce Pierce Pet Hackn Balt&O Pillsbury Hahn Bangor&A Pitts HahnDS Beatrice Pitts Hall Barnsdall Harbisn Bendix PortRT Hartman PortoRTob Hartman Produce Exchange Stocks 20200 PrairieO&G Hayes Prairie HerculM Pressed Hershey Ch Borden Holld Pr&Gam Hollander BriggsM Prod Ref Brockway Ser HouseFin Houston Serv Houston Howe Bklyn&Q Pullman Do sellers Punta Sug Hudson Brunswick Hud&M Purity Bak 12600 Hud&M Hupp Mot Radio 213000 Bullard Central Radio TOTAL Motrcycle Radio-K-O 18000 Indian Ref RaybesM Indust Ray Reading N. Y. Real Estate IngersollR Real Inland Reis Securities Market Inspiration RemRand 6000 Butterick Insuransh RemRd Bonds High. 69% Mot Bryant 2600 53 pf Met ReynoldsSp Net High. Low. Stock High. Low. Close. chge 65% South Ry 1200 60 Sparks With 8200 12% Spicer Mfg Spiegel May StdBrnds Brds StdG&E Starrett SterlingSec Sterl Sterling Stewart Stone&Web Studebak Oil Superht Superior Superior 6500 Sweets 200 Symington Telautgh 100 TexGulfSul Thatch Thatch Third Thompson Thom Thomp TideAssoO TideAsO Timk-DA Timken Transam Truax 17% City 200 Und-El-F 2600 73 73 Cal Union 1/8 UnTkCar UnAir&T Am Biscuit Carbon Cig United Cor UnitedCor pf3 29100 100 UnPDye Express Alcohol Leather Leath 100 S Pipe 2 7200 USGypsm Rubber Rub USSmelting 44 Steel Steel pf 200 30% 30 Vadsco Sales Vanadium 71% VaCaCh of 70 68 70 26 Wabash 1/2 Wabash WaldrfSys Walworth Ward pt Warner 24000 Warner 1000 Warren Wesson Wesson Dairy Maryland West Union WestghseAB Westgh 26600 Weston Wextark White White White Wilcox O WilcoxR Wilson Wilson Woolwth Worth Pump 12100 1021/4 98 WorPump 78 80 Wrigley 14300 78 Yale 200 28 Yellow Truck 3700 14 29 22% YoungS&W 900 27 4% 2% Zenith Radio 1300 51/4 Stock. Including Extras. Payable Stock Payregular Stock. rate. Highs and Lows when carried earned. Paid this close. year; ExDividend Ex Rights deducted from net change. previous DAILY MARKET MOVEMENT ReynoldsTB Richfield Cement Do cash Pac Combust Rio Gr CannonM Combn Ritter-D IntHarvst Rossia 100 42% 200 IntMatch 63 Safeway 62 IntNickCa StJosephLd New Haven Buying Holding Co. Stock New Haven Railroad has been gradually buying in percent cumulative preferred of Boston Railroad Holding Company through which it holds its investment in Boston & Maine, but there is no evidence the commitment in Boston & Maine stocks has been recently New Haven now owns 247,630 shares of the holding company preferred. or slightly less than 91 percent and all the 31,065 common stock There are only 25,309 shares of preferred in hands of the pub- ON N. Y. STOCK EXCHANGE The following table shows the number of advances, declines and the issues unchanged, together with new 1931 highs and lows: Un- New New Gain Loss changed Total High Low Feb. 26 390 204 130 724 154 187 449 104 740 108 236 115 742 306 (S)394 630 160 680 189 Bid and Asked Quotations Asked Paper StL&SF pf Southw 389 689 SavageArm 681 Schulte Strs (S)181 Seabd SeagraveC SearsRoe DS 261 Sec Nat Inv Investors Nat Seneca Cop 102 Jewel Servel Inc ChiMSP&P 1900 Sharp Shp&D 78 ShattFG 35 KanCitySo Shell Un Kayser Shubert Thea (S) 489 Simmons Simms Pet 611 Sinclair 599 Kelvinator Skelly Oil Kennecott 685 Snider Pack 618 104 618 Cal 1500 KresgeCo 267 103 554 93 Kreu&T Cal Ed 2600 98 679 209 29% South SPortRS 118 104 607 83 18 So Pac 100 284 210 139 633 2 851/4 18% tion of holding company it guaranConsolidated Gas ColGraph tes $100 share for preferr The Lehman present market is 70 to 75 and in Lehn&Fink New Issues Trading past it has sold considerably lower. The New York Produce Exchange TRUST COMPANY CLOSED has admitted to trading on a Altoona, Pa., Feb. 27 (AP). The issued' basis $5 Mountain City Trust Company was preferred stock and 41/2 percent declosed today by order of the State bentures or Consolidated Gas ComCom&S Loew Loft pany of New York Cong Banking Department. A run on the bank started when the Union Bank Lorillard NOT BUYING CADUM SOAP of Altoona, a private institution, 'Contrary to reports, we are not closed early this week 1/4 buying the Cadum Soap Company Lou&Nash 109 109 In a statement at the close of of France.' said Charles S. Pearce. 18% Ludlum Stl 1/4 last year the bank reported capital president of the Colgate-Palmoliveand surplus of $437,962.50 and total Peet Company. McCallCor McKsptTP including capital stock, k, totaled STOCKS BOND OFFERINGS DOWN $162,962.50. New bond offerings this week toMck&R taled $19,951 .000 against $50,537,500 Since the end of 1929 New Haven PROCTER GAMBLE EXPANDS Mack last week and $65,485,000 in the like has purchased nearly 1,000 shares The Procter & Gamble Company 1930 week. of the holding company preferred has about completed negotiations Cop when obtained at satisfactory prices for acquisition of Portsmouth Cot- O. K. GENERAL BAKING PLAN Mallinson and acquisitions since 1925 are over ton Oil Refining Company. Pur- Stockholders of General Baking Mandel Bro 2,600 shares. New Haven guaran- chase will mark the first step that Corporation have approved the MG tees the percent dividend and the & G. has made to increase its capital readjustment plan and the more stock it acquires the less will sales outlet for its cottonseed cook- committee has declared the plan Shirt 200 3% Maracaibo 200 be its-liability. In event of liquida- ing oil division.
Click image to open full size in new tab
Article Text
ALTOONA BANK CLOSED BY STATE BANKING DEPT. Mountain Trust closed today order of the State Banking run the bank started when the Union Bank toona, private closed statement at the close the capital and surplus and total sources $2,497,440.44. capital stock totaled $162,962.50.
Click image to open full size in new tab
Article Text
U. S. GOVERNMENTS RECOVER SLIGHTLY OUT-OF-TOWN MARKETS Pressure Against These sues Lifted and Some Lost Ground Is Regained Corporate Domestic Liens Are Again Dull, But Foreign Securities Gain NEW YORK Feb. 27 The bond market got a load off its chest today when against pressure Government obligations lifted Treasury sues regain little lost ground. Treasuries advanced from point from the week's bottom reached as extensive the the two Liquidation appeared to have dried the group to make some coincide with the disposal soldiers' bonus legislation the by the in the action in overridthe Corporate domestic issues paid lit. heed to the better tone of Gov. Traders displayed little terest in the list and the volume of business It again remained the foreign list to provide market with some relief from Heavi turnover in rismarket that carried some to new 1931 peaks tells the story The dullness of the domestic marthis week has apparently turned investors the foreign where are even more attrac than among home investments European and Latin American bonds were depressed last year due to and economic developments only recently have they shown real vitality. Both European and Latin Ameribonds shared in the improve1931 highs reached Berlin City Berlin City 6s German German Agricultural Bank Cordoba City Pierelli Co., of Italy and Buda pest City 6s. Australian bonds were buoyant the clear cut statement of the Australian overnment deny intention to repudiate its exdebt. There were gains a ternal or more in several South Amerinotably Rio Grande do Sul 7s, of Brazil Chile Uruguay and Argentine 6s of September 1960, the latter at new Treasury Certificates Following asked for prices open States Notes 101 from S. Territorial and Pre War from income taxes. call April 935 MONEY RATES High. Low money York) (New York). paper FOREIGN EXCHANGE England BAR SILVER QUOTATIONS London PARIS BOURSE quoted LONDON MARKET CHICAGO Sales Labora Edison N. Y. Bank Stocks Grunow NATIONAL BANKS Class Tool Domestic Issues Dull TRUST Acked Standard Investment Trusts STOCKS Shares Corpn Corpo Composite Trust preferred Insurstocks Bankers 30% Shares Corp Loans Shares Exempt Bank after Deposited Total shares. BONDS de series Domestic Secur Issue. Trust Shares Trust Shares Total Shares Shares BOSTON Invest Shares Fuel Secur America Class Jersey Royale *** Quincy $50) Industry Pwr Mf Investment Invest CLEVELAND Shares quiet and Shares easter Securities England in and American 84 rates: per Pump Phila. Bank Stocks NATIONAL BANKS Dorn 87 Class Engr Invest PITTSBURGH South Trank Knox 280 55 Trust TRUST COMPANIES Asked Super Shares Invest Steel Stand The Raw Silk Market YORK Feb. 27 Fixed Shares The Oil Market series Credit do series Trust Altoona Bank Closes United Trust Naval Stores ALTOONA, Pa., Feb. 27 Trust Shares The Mountain City Trust Company TURPEN BONDS closed today by order of State Banking the bank tarted when the Union Bank of Altoona, private institution, closed early this week. Investment
Click image to open full size in new tab
Article Text
Altoona Bank Is Closed By State Feb 28 Mountain City Trust company was closed Friday by order of the state banking department. A run on the bank started when the Union bank of Altoona closed early this week. In a statement at the close of last year. the bank reported capital and surplus of $437,963.50 and total resources of $2,497,400.44. Liabilities including capital stock, $162,-
Click image to open full size in new tab
Article Text
POLICE GUARD HOMES AFTER RUN ON BANK ALTOONA Feb. 27 Unprecedented heavy withdrawals from all Altoona banks were caused today by the closing the Mountain City Trust ceinpany following run. D. Swigart. chief examiner of the state banking department. later reported the closed institution Because of the danger of holdups and burglaries. due depositors' taking the money to their homes, Major Lynn Adams of the state police dispatched eighteen aid the city police and to patrol highways.
Click image to open full size in new tab
Article Text
That the Mountain City Trust company was in solvent condition and was forced to close its doors only by the unwarranted withdrawals of funds by depositors, is the opinion of Swigart, chief executive of the state banking department. Mr. Swigart said: is a shame that the Mountain City Trust company had to close its doors. There was solutely no reason for its depositors to withdraw their It was in sound condition and should have conmoney. tinued its service to the community as in the past." Conditions here yesterday were said by Mr. Swigart to have been the worst he had ever seen or experienced since affiliated with the state department. He said the should realize they only hurting themselves people are when they start on bank. They are only bringing trouble to themselves, he declared.
Click image to open full size in new tab
Article Text
WITHDRAWALS FORCE MT. BANK CLOSE State Takes Charge of Institution One Hour After Open= ing for Business IS APPOINTED Will Conduct Appraisal, Audit Before Deciding to Reopen or Liquidate Unable to stem the tide of heavy withdrawals of funds by depositors. the doors of the Mountain City Trust company closed yesterday morning. one hour after opening for George L. Taylor, special deputy of the state department of bankappointe receiver for the and notice to that the doors the bank for the information of Run Forces Closing bank closed by Swigart chief examiner the department. after authorities Harrisburg had ceived that there had heavy bank and that. unless the depositors discontinued the withdrawals, there alternative closing the bank. Swigart came Altoona Thursday night the books the institution. He found the bank solvent condition, decided not close it. The stitution opened o'clock yesterday morning and immediaterun started. o'clock the doors were closed and the notice posted. In statement to The Tribune last night, Mr. Swigart $400,000 withdrawn from the Mountain City Trust company morning, the the Union bank closed its doors. Yesterday morning during the bank was opened, 000 withdrawn. To Make Appraisal and then an audit books the bank be made. This will take several Mr. Swigart After ventory the department. be whether liquidate or bank reopen The Taylor receiver the Mountain City Trust company made Peter Cameron, secretary banking Mr. Taylor will complete charge of the bank until the inventory Incorporated In 1905 The Mountain Trust company was incorporated September and owns building Twelfth street which banking rooms located. annual statement. issued cember total sources The resources included the lowing items: Loans and house and fixtures. hand and overdrafts. The liabilities included the $77,089.85; deposits, Officers of bank Oswald. president: Mattas, president: Lynn McG. Moses, Hark assistant and trust officer: Leckie, comptroller. Directors are: Banks Kurtz. Oburn. Charles H. Weest. W. H. Burgoon and SIX ELECTROCUTED COLUMBIA, The murders Cayce night and Lexington county merthe state dawn today. Si. five them members band that had committed the state, The executions started shortly after o'clock and came end few minutes seven. FORESTERS MEET hundred members the Allegheny section Society American Foresters comprising today in their annual
Click image to open full size in new tab
Article Text
Let's Start Thinking Yesterday will into the records as one of the most harrowing days in Altoona financial history. AND THE WHOLE BUSINESS WAS NOTHING BUT FOOLISHNESS. All the turmoil, all the tragedy, the bitter feeling. and the misery would have been avoided if people had only stopped to THINK. Altoona needs sanity, a solid basis for action. Altoona banks need support, not desertion. They are getting that support from the business men, from the business and firms. WHY NOT FROM THE GENERAL PUBLIC? on anyone's yet circulated for gospel all that was heard in the business district yesterday. seemed that the entire city was howling calamity, that every citizen had become gossip. What you heard depended what you wanted to hear. Anything was THE TRUTH. Vicious. malicious rumor forced the withdrawals which forced the Union bank to close. Vicious, malicious rumor forced the withdrawals which forced the Mountain City Trust company to close. There was no sane reason for the closings. The banks were solvent. The only it certainly is not TO THINK. The statements on this page today are not fabrications, they are plain, unvarnished facts. And note that the words of the representatives of Altoona's business firms, of the biggest depositors in Altoona banks, are not mere expressions of confidence. They state plainly that the funds of their firms are entrusted to, and will continue to be entrusted to Altoona banks. The Tribune its editorial statement of repeats Thursday morning: banks are not headed by miracle But they are under the guidance of good men, leaders of this community, whose interests are irrevocably tied up with the welfare of Altoona. They have contributed much to the progress of this city. "And they deserve a better break from the public than they have been getting. A little more confidence, and a little less will help everyone."
Click image to open full size in new tab
Article Text
HEARD SHOTS And Left Car In Street Woman Testifies At Detroit Buckley Murder Trial. Witness Talked With Defend ant Before Slaying. State Asserts-Jury Completed. Detroit. February 27-(AP)-The daughter policeman. who admits. according to Prosecutor Harry S. Toy, that she drove car blocked pursuit of Jerry Buckley's slayers. stole the show completely today in the trial of three of the alleged as She Mrs. Lucille Love, who was guest the La Salle Hotel, of the slaying last July In an affidavit submitted to ReJudge Edward Jeffrias this Prosecutor Toy said the woman had talked with Ted Pizzino, one of the defendants. two hours before slaying. and was sipping coffee with Angelo Livecchi, another the defendants. with short time after the radio political was shot down in the hotel lobby Mrs. Love, who had ben held communicado by police Wednesday night with her husband, and who appeared before the 22-man Wayne County Grand Jury in surprise session last night, does not deny these allegations, Prosecutor said, but does deny the inference that she was in league with Buckley's slayers. She and she only "Sarah" started from the hotel for drive in she said, about midnight. Hardly had they started. she than "Sarah" insisted they turn In driving the hotel, looking for parking place, she said, they heard what like shots, and both jumped from the car, leaving in the middle of the street and fled. Mrs she returned to find the car there and drove into parking lot She attributed actions agitation over the supposed shots. Prosecutor Toy's affidavit was in support of motion for five-day continuance, to permit further investigation of the woman's story. The motion overruled by the Court. Mrs. Love is the daughter of Laverne Kelso, of the Detroit Police Department. jury nine men and five women selected late tonight. total of 106 talesmen were examined in selecting the 14 jurors, two whom excused by lot at conclusion the evidence, unless one or more members of the panel are taken ill during the trial. ALTOONA BANK CLOSES. Altoona, February The Mountain City Trust Company closed by order of the State Banking run on the bank started when the Union Bank Altoona, private institution. closed early this week. In statement at the close last year the bank reported capital and total resources $2,497,440.44.
Click image to open full size in new tab
Article Text
No Time Set For Payments State Banking Sec'y, Mt. City Bank Receiver Refuse to Make Statements not known when creditors the defunct Trust company, closed since will receive payments on their deposits. Dr. James Gordon, secretary of banking. yesterday. Dr. Gordon queried by The Tribaction lated for the the sitors, stated that does not when any will made and has statement regarding the bank. The Tribune's action was taken in response to numerous inquiries regarding the status the closed bank. In the by the banking department that the quickest way tain prospective from the receiver the bank, such being available sooner than the official which will made from time to from the banking department's Philadelphia office George special deputy banking and receiver Mountain banking institution. would not discuss conditions the bank when interviewed last night. said, though, that he hopeful that now being sidered would materialize very quickly.