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A VERMONT BANK CLOSED THE COLLAPSE OF ITS PRESIDENT'S SCHEME THE CAUSE. Depositors Promised Payment in Full, but the Real Condition of Affairs Still in the Dark-Other Disasters Apt to Result from the Failure - The St. Albans Trust Company Suspends. ST. ALBANS, VT., August 6.-The Vermont National Bank of St. Albans, of which Bradley Barlow is President, closed its doors this morning, causing great consternation among its depositors. Mr. Barlow is also President and owner of the Southeastern Railway, of Canada, and he has failed, and all his property is involved, besides a considerable amount of money loaned by banks and individuals to assist him in his railroad management. Mr. Barlow says that he has assigned all his property to the bank for the benefit of the depositors, and that his failure is due to the unsuccessful result of his attempt to sell the Southeastern Railway to the Canadian Pacific Railroad Company. He expected up to a few days ago to accomplish the sale, but failing in this he was compelled to suspend. The bank has discounted about $325,000 for the Southeastern Road and the loan was made on bonds of the Boston, Montreal and Portland Railroad. Failing to raise money on the bonds it was deemed best to close the bank. The deposits of the bank are about $120,000, and Mr, Barlow thinks that the depositors will be paid in full. The officers of the bank state that its affairs are in proper shape, and the bankex aminer has been notified of its situation. The Southeastern Railroad is a road which had been taken in hand by Mr. Barlow, who raised it from a state of inefficiency, requiring a large outlay. Mr. Barlow held a large amount of bonds, and is not attempting to put them upon the market. The road has been an active borrower in consequence in order to carry on the improvement, the earnings barely covering the current expenses. The line extends from Montreal to Newport, Vt., a distance of a little over one hundred miles, and has branches to various points in the provinces, which make up a total of three hundred miles of road in operation. The suspension of the bank was totally unexpected, and is likely to have a serious upon indorsers effect upon numbers Mr. Barlow's who have paper, been but the real condition of affairs in this respect is not yet fully known. It is understood that Mr. Barlow had invested $1,000,000 in the Southeastern Railroad. The St. Albans Trust Company has also suspended. Its President, Lawrence Brainard, who was a heavy indorser on Mr. Barlow's paper, having made an assignment for the benefit of the Trust Company. Mr. Brainard's property, which has been assigned, is valued at $50,000.