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FORMER HEAD OF HAZELTON SAVINGS BANK CONVICTED OF CHEATING. TRIE DON TWO OF FIFTY-ONE COUNTS IN INDICTMENT Institution Which Kiefer Headed Failed Failed and Affairs Were Found Badly Involved-Indictments Pending Against Several Other Members of Kiefer Family-Other News. Independence, March 9.-A verdict of guilty was read in court in the case of Iowa vs. Adam Kiefer, in which the defendant was charged with cheating by false pretenses. The specific charge was in connection with the payment of two notes, each for $700, and issued by D. B. Stoner. Kiefer is the former president of the Kiefer Savings Bank of Hazelton, which institution wos closed March 20, 1913, on the order of a state bank examiner. The Ktefer Savings Bank was organized in 1910, with a capital of $10,000. In 1863 a private bank was organized by the Kiefer brothers, Adam, John and William. The concern was known as the Kiefer Brothers' Banking Company. About five years ago It was rumored that the private bank was in a critical condition. The savings bank was then organized by the Kiefers, and it was generally supposed that the two banking institutions would be merged within a short time. However the private bank continued to do business and solicit deposits on the promise of payment of 6 per cent interest. while the savings bank offered 4½. About March 1, 1913, Adam Kiefer refused to pay depositors in the private bank. Shortly after this date the bank went into the hands of a receiver. Last October a large number of indictments were returned by the grand jury in connection with the failure of the bank. Those against whom in. dictments were returned, were Adam Kiefer, fifty-one count; John Kiefer, William Kiefer, Earl Kiefer, Kyle Kiefer and William Smith. Bonds from $1,800 to $15,000 were furnished by those indicted. The trial commenced last Monday and Friday evening the jury retired for deliberation. A motion for a new trial will be made, and if overruled an appeal will be taken.