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Akron Industries Join with Banks to Solve Own Difficulties
Organize Credit Corporation After Mergers with $75,000,000 Resources.
By Associated Press. AKRON. OHIO, October industries, mercantile establishments and banks combined on large today to solve their difficulties. type of banking for they formed the Credit Corporation which patterned after the National recently proposed by President Hoover.
Combined Resources $75,000,000. of the corporation lowed merger Central DeBank Trust Company Trust and and cial institutions, which have of at $7. The bank, capitalized name Like the National Credit Corpora. corporation use $13. for rediscounting bank increasing the liquidity assets of the two merged
All Industries Aid. industries and the four Firestone and among subscribwere included Directhe credit two banks subscribed the $500,000 that the forma said first localized application the United States of the credit corporation idea.
Bank Closes After Run. Associated Press. By Exchange Bank here for business today. did open issued the directors said unusual withdrawals by prompted the positors has President W. March depositors be in full and that would be balance for distribution to stockholders. statement of the bank's condition September had of and mand disdeposits of $5,194,856. United counts totaling States securities $738,830 and cash totaling $562,970.
Bank Falls to Open.
By Associated VA., October United Bank of Middlebourne, by consolidation the Bank of Middlebourne National Bank of Midand the diebourne, did not open for busitoday. According to its last statement the United Bank had resources of $722,042.19.
Evansville Bank Closes. By Associated Press. IND., October 19 Trust and Bank of Evansville, one of the largest banking institutions in that closed doors and Luther Banking took personal charge of its affairs. Marcus Sonntag, who is nent on number state commissions and chairman of the Board of Trustees Memorial president of the tion. deposits of $3,141,000, surplus and undivided profits
State Takes Over Two Banks. By Associated Press. RRISBURG, PA., October Two Schuylkill banks taken today the State Banking Department. The Valley Bank total resources $1,674,841. and deposits of $1,369,088. The Auburn, the other closed institution, had total sources of $661,124 and deposits of $527,982.
Bank and Branch Close. By Associated FORT ME., October 19.The Kent Trust and its branch at failed to open their doors today. The bank was in 1903, and Italized at $50,000. and had deposits of approximately $650,000.
Banks Close After Suicide. By Associated TERRA ALTA. W. VA., October First National Bank of Terra Alta and the Alta Bank closed today. Harry Idleman, clerk of the First found morning his bullet the head. The Coroner said the body that Idleman killed himself and an inquest necessary. The First National Bank, Septemof surplus and $490,552. The Bank the same date reported capital of of $40,000 and deposits of $513,441.
Run Causes Bank to Close.
By Associated Press. HARLINGEN, TEX., October withdrawal of the Valley State Bank to close its doors here today. Directors nounced that they considered it best for all to place the bank's affairs the hands the State Banking Commission. said silent deposits has been in for some time. The Valley State Bank was capitalized for had deposits aggregating $613,979.
