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BANK IN SERIOUS TROUBLE S RUN ON THE CITIZENS NATIONAL AT CHARLES TOWN. Internal Dissensions May Result in the Institution Shortly Closing Its Doors. 1 A message to The Herald Wednesday from Charles Town says: The well known Citizens Bank of that place, one of the most prominent financial institutions in Jefferson county, is in serious trouble as a result of Internal dissensions, and that a heavy run, started Tuesday morning and continued today, may result in the ruin of the bank. It has developed during the past day or two that there has been a struggle for control of the institution going on for some time past between President Lewis D. Getzendanner and his sup: porters on the one side and several of the directors on the other. It. is said that President Getzendanner owes the bank about $35,000 of borrowed funds, and that there was a threat made to the effect that if he did not resign the presidency the directors would force the bank into voluntary liquidation. In order to meet this Situation President Getzendanner secur ed enough proxies of stockholders to force the retirement of five members of the board of directors at the recent annual meeting, and apparently hela control of the situation. However, on Saturday night a secret meeting of the directors was held, at which time the threat to force the bank into liquidation was renewed. Following this, President Getzendanner executed a deed of trust for $30,000 on three farms, located near Kearneysville, but refused to make a deed for his property in Charles Town. In the meantime Cashier Turner resigned, and Gerrard D. Moore was elected to the position. Intelligence of the fight between the directors and the president leaked out, and the depositors became alarmed and started a run on the bank. All day Tuesday the run was continued, many deposit1 ors going to the bank and demanding their money. Considerable cash was 1 on hand. and this enabled the bank to meet all demands. Today the run was continued. but there is a strong feel1 ing prevailing that unless the run is ( speedily checked the bank will be M compelled to close its doors. Getzendanner Resigns. Late Wednesday afternoon, a mesage to The Herald stated that a i compromise among the warring faci tions had been reached. and that Mr. Getzendanner had resigned the presa dency of the bank. Mr. B. D. Gibson TO being elected in his place. It was also stated that the bank would I weather the crisis, and would con1 tinue to do business.
