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BANK CLOSES AS BUCHER FAILS TO PAY OFF LOANS Honey Brook Printing House and Development Promoter Blamed for Temporary Failure TERRE HILL NATIONAL FAILS H. Bucher, former Honey Brook printer publisher, organizer the Honey Brook Development pany and the man who started ganize bank for his old home town. into the limelight again yesterday when Federal closed Terre Hill National Bank. miles Honey Brook. bank because $120,000 in majority of which held by Bucher. Eighteen months ago Bucher's upto-date plant Honey Brook burned ground. with allthe paper stock. This loss, stated the time, was almost completely covered by insurance. Bucher had organized ment Company and for been building new houses Honey Brook When the company with the avowed intention of erecting several hundred houses. These dwellings failed to materialize. however. Later started to organize new bank for the Chester county borough this project was taken over by others. After the burning his printing plant Bucher Lancaster. His divorced him Then he organizing small printing plants in different places. His Development Company became defunct soon all of the dealings so far that not meet his the Terre Hill Bank. with which institution Bucher did business for many years. continued advance money Stover, president of the institution that loans Bucher were responsible for the bank's failure bank in the last four years Mr on property owns in Honey Brook.' said Mr. Stover "These loans not been paid and was finally necessary take some action looking their liquidation. The property given security valuable and good return should be realized on its Since 1921. was said. Mr Bucher been expanding publishing business rapidly. His method was purchase building and equip as printing plant. which operated as separate unit. Properties Mortgaged is estimated by bank officials that dozen such plant Honey Brook in addition farm valued at $20,000 Some propreported to be ily mortgaged The affairs of the closed bank the hands of Edward Allanson, Federal Bank examiner. who arrived Terre Hill yesterday afternoon companied by Steven Philadelphia They would make statement their complete. At the last Federal Bank the Terre Hill National capital stock valued $40,000 plus undivided profits, $45,000: deposits $566,000 resources. $780.President Stover the bank has suspended business only temporStover also said that Bucher placed notes bank collateral loans with the understanding that not to receive any money unti! the notes made good Instead. Stover said. the money was paid out. Cashier Leaves Town Levi Talley. cashier of the bank left the town early yesterday company with his They were travin Bank Talley left the borough order during the day. Schaeffer. solicitor the bank. termed Talley's action "stupid" and added that the departure was not specially Residents Terre Hill refused excited. despite the fact bank the one only bank officials and their ability work plan to every belonging however, will likely lose thing According to Stover. Federal bank last that bank's capital, surplus and profits had wiped The given their choice of closing bank the stock Six men raised the money. several them great Several the directors capital stock again wiped they were again given the raising the money or clos ing the bank Rather than open the bank and dure the dangers the rectors late Tuesday night voted open business yesterday Scores farmers in the Terre Hill stand lose heavily because intricate financial dealings