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May jamin Rosenbloom was today apointreceived of the Burgettstown National Bank which closed its doors He will be compelled to Tuesday. furnished bond and receive instructions, and likely will not take over his duties before Examiner Byers states that this will preclude any possibility bank opening its doors again, though buyer for the institution found the will have the authority sell. If this not done affairs of the bank will wound up soon possible.
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With the announcement of the appointment of Benjamin Rosenbloom, of Pittsburgh as receiver depositors of the Burgettstown National bank at Burgettstown, became aware that the affairs of the bank were in such shape that it probably will never open it's doors for business again. Receiver Rosenbloom will take charge of the bank next Monday and after the ex-
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Committee to Look After Meet Again at Chairman's Call
Burgettstown, July ing of the stockholders of the Burgettstown Nationa bank, recently closed by the comptroller of the trasfollowing the failure of the John ury Bell banks in commitof five persons appointed to represent stockholders in future negotiations concerning the bank's fairs.
Sir Fully of the stock represented at the meeting, which presided over by Proudfit. Miss acted secretary. After indiscussion of the bank's affairs, following committee was named: Proudfit, chairman: Bert Figley, Edwin McFarland Allison. The committee authorized to employ counsel, secure expert accountant and to learn on terms the bank can be reopened. The meeting was adjourned to meet at the call of the chairman. In the meantime the committee will look after the interests of the ers. The bank now undergoing the process liquidation. Former Congressman Benjamin Rosenbloom, Wheeling. Va., charge the bank receiver under appointment the comptroller of the treasury.
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At a meeting of stockholders of the Burgettstown National bank, closed by the controller of the treasury following the failure of the John A. Bell banks in Carnegie, a committee of five was appointed to represent the stockholders in future negotiations concerning the bank's affairs.
Fully three-fourths of the stock was represented at the meeting, which was presided over by A. C. Proudfit. Miss McCabe acted as secretary.
After informal discussion of the bank's affairs the following committee was named: A. C. Proudfit, chairman; Bert Figley, R. J. Donaldson, Edwin McFarland and E. Allison. The committee was authorized to employ counsel, secure an expert accountant and learn on what terms the bank can be reopened.
The meeting was adjourned to meet at the call of the chairman. In the meantime the committee will look after the interests of the stockholders. The bank is now undergoing the process of liquidation. Former Congressman Benjamin L. Rosenbloom, of Wheeling, W. Va., is in charge of the bank as receiver under appointment of the comptroller of the treasury.
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Burgettstown Bank Receiver Sues Bell and Five Directors
Various Acts of Negligence in Institution's Management Charged.
Benjamin L. receiver of the Burgettstown National Bank of Burgettstown, Washington county. yesterday filed an equity suit in the District Court against United States John Bell, convicted coal operator who and five others and banker. served with Mr. Bell of it closed in the bank before orders of the on the collapse of of following currency They are charged the Bell interests. of negligence in with various acts of the affairs of the the management bank. are T. P. The other defendants E. McLee R. and Thomas C. G. Pate filed for the The suit was Linn. Alexander Cooper by Attorhey is with of who Bloom & Bloom of law firm of the as Mr. Bell of Mr. board of directors of the of the bank. bill of comin the The the losses suffered asks that of the bank in consequence by the loans and action of the through the vances and determined board be that decree be the court. entered by adjudging the, defendants separately liable to pay jointly and the full amount of the the petitioner together with the alleged terest.
Says Losses $200,000. in the bill involve The losses is alleged that directors various the board of bonds in times purchased to amounts coal comand more Bell held panies that John and on numerous trolling in. of directors occasions the they had purterchanged the bonds of other coal for Bell was interest that Mr. asks in the bill receiver be issued that to answer the asks that bill. Mr. account and money of the made of all the bank was gettstown violation of the duties gently and in by or of the defendants of the defenunder the direction bonds mentioned in the dants in the bill. various loans, the In citing the in the bill that the since 1920 been defendants of various acts of guilty of the affairs of in the management the bank.
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Burgettstown Bank Receiver Sues Bell And Five Directors
Benjamin L. Rosenblooom. receiver of the Burgettstown National Bank of Burgettstown, Washington county. yesterday filed an equity suit the United States district court against John convicted banker and coal operator and five others who served with directors of the bank before was closed in May, following the of the Bell interests. The other defendants are Weaver, Lee Scott. W. E. Mc. Curdy, Pate and Thomas Linn. The suit filed for the receiver by Attornay Alexander Cooper Bell the of the board of was president
Former Receiver Executive Director of County Relief.
Disapproving proposals that activities of Washington Greene Counties be consolidated Paul Keenan, Waynesburg, the Washington County Emergency Relief Board. meeting yesterday Washington, elected Harry Wilson of 501 East Beau street, Washington, its executive director. Wilson, until recently receiver the Avella, Burgettstown and Hickory National Banks and resident of the county for the past five will take the place Robert H. Stroud, who resigned upon quest after two relief workers had been killed an automobile accident at Ligonier while en route home from party. Haviland, acting executive director, will resume his duties supervisor of investigators. The election of Wilson unanimous, the Board being of the opinion man of executive perience and without local political alignments needed for the sition. Cole, district supervisor of the State Board, attended the recommended consideraof the plan for the consolidation Greene and Washington counties into one district and der director The Board unanimously opposed this proposal, holding that such consolidation not now feasible. They said might possible for accounting and other minor details but that the amount of work in this counmade imperative that local director from this county should in charge of work here. Nomination persons additional investigators made to the State Board Harrisburg. These additional vestigators were recently authorizand the names of those selecttaken from lists file with local committee. It proposed distribute these investigators throughout the county to keep down traveling expense. The additional investigators were allowed to the county in order clear quickly as possible vestigation of all county the State board that supervisor be named distribute in this county surplus food which will assigned the county by the Federal Relief Committee.
Yesterday's meeting was presid- over by Roy Carson, chairman, and was attended by James Wray, Will H. Watson. Reese and Taylor