Parkesburg National Bank (Parkesburg, PA)

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ONE-DAY BANK RUN CAUSED BY RUMORS COATESVILLE, July 21.-Rumors that the Parkesburg National Bank, at Parkesburg, six miles west of here, was about to close its doors gained wide circulation, with the result that a run on the institution commenced shortly after it opened for business. A long line of depositors ready to withdraw their savings greeted officials, who immediately set to work to try and run down the origin of the rumors, which they branded as false. M. F. Hamill, the cashier, in a statement gave assurance that the bank is in a healthy financial condition. Before closing time the run had ended and some of those who had withdrawn their money returned to re-deposit it.

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CHESTER CO. BANK CLOSED; FUNDS MISAPPROPRIATED

(By The Associated Press.)

Parkesburg, Pa., Oct. 4.—The doors of the Parkesburg National Bank did not open for business today. A sign posted on the door read: "Closed by order of the directors."

Thomas C. Young, president of the bank, at his home, said "the bank has been closed by the directors because of misappropriation of funds and irregularities." He declined to make a detailed statement adding that he did not know whether depositors would suffer losses.

Bank examiners recently went over the books of the institution. In June, a run on the bank followed resignation of Charles P. Lukens, as assistant cashier. Officials at that time, however, issued a statement to the effect that the bank was sound financially.

The bank was capitalized at 50,000, while the June statement of its resources showed a surplus of $20,000.

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PARKESBURG BANK CLOSED BY PRESIDENT

Coatesville, Pa., Oct. 4.—Misappropriation of funds and irregularities were given as the reason for the closing of the National Bank at Parkesburg, near here, today by President Thomas C. Young. Mr. Young refused to comment further except to state that no arrests have been made and none are contemplated.

The closing of the bank, which has about 1,800 depositors, caused a sensation in the town. No run was made on the bank as the closing was unexpected.

Financial troubles were hinted a few months ago, however, following the sudden resignation of an assistant cashier which resulted in a run on the bank. It was checked at the time by a statement that the bank was sound financially.

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BANK IS CLOSED National Bank at Parkesburg. Pa., Does Not Open for Business This Morning, Directors Orders. Parkesburg, Pa., Oct. 4-The doors of the Parkesburg National bank did not open for business today. A sign posted on the door read. "Closed by order of the directors." Thomas C. Young, president of the bank, at his home, said "The bank has been closed by the directors because of misappropriation of funds and irregularities." He declined to make a detailed statement, adding that he did not know whether depositors would suffer losses. Bank examiners recently went over the booke of the institution. In June. a run on the bank followed resignation of Charles P. I. ukens as assistant cashier. Officials at the time, however, issued a statement that the bank was sound.

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NATIONAL BANK AT PARKESBURG CLOSED; HAD A RUN IN JUNE

PARKESBURG, Pa., Oct. 4—The doors of the Parkesburg National Bank did not open for business today.

A sign posted on the door read: "Closed by order of the directors."

"Thomas C. Young, president of the bank, at his home said, "The bank has been closed by the directors because of misappropriation of funds and irregularity." He refused to make a detailed statement, adding he did not know whether depositors would suffer losses.

Bank examiners recently went over the books of the institution. In June a run on the bank followed the resignation of Chas. P. Lukens as assistant cashier. Officials at that time, however, issued a statement to the effect the bank was sound financially.

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PARKESBURG, PA., BANK CLOSES; FIND SHORTAGE

PARKESBURG, Oct. 4.—The doors of the Parkesburg National bank did not open for business today. A sign posted on the door read: "Closed by order of the directors."

Thomas C. Young, president of the bank, at his home, said: "The bank has been closed by the directors because of misappropriation of funds and irregularities." He declined to make a detailed statement, adding that he did not know whether depositors would suffer losses.

Bank examiners recently went over the books of the institution. In June, a run on the bank followed resignation of Charles P. Lukens as assistant cashier. Officials at that time, however, issued a statement to the effect that the bank was sound financially.

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DIRECTORS CLOSE BANK

Misappropriation of Funds Given as Reason by President.

PARKESBURG, Pa., Oct. 4.—The doors of the Parkesburg National bank did not open today. A sign on the door read: "Closed by order of the directors."

T. C. Young, president, at his home, said "The bank has been closed by the directors because of misappropriation of funds and irregularities." He said he did not know whether depositors would suffer losses.

Bank examiners recently went over the books of the institution. In June, a run on the bank followed resignation of C. H. Lukens as assistant cashier. The bank was capitalized at $50,000, while the June statement of resources showed a surplus of $20,000.

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CLOSE BANK FOR LACK OF FUNDS

Directors Lock Doors of Institution Which Had "Run" Last June.

(By Associated Press.) Parkesburg, Pa., Oct. 4.—The doors of the Parkesburg National Bank did not open today. A sign on the door said:

"Closed by order of the directors."

T. C. Young, president of the bank, at his home said:

"The bank has been closed by the directors because of shortage of funds and irregularities."

Bank examiners recently went over the books of the institution. In June a run on the bank followed resignation of C. P. Lukens as assistant cashier. Officials at that time, however, issued a statement that the bank was sound financially.

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(By Associated Press.)

Parkesburg, Pa., Oct. 4.—The doors of the Parkesburg National Bank did not open today. A sign on the door said:

"Closed by order of the directors."

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Parkesburg National Bank Is Closed by the Directors

Parkesburg, Pa., Oct. 4. — The doors of the Parkesburg National bank did not open today. A sign on the door read:

"Closed by order of the directors."

T. C. Young, president of the bank, at his home, said:

"The bank has been closed by the directors because of shortage of funds and irregularities."

Bank examiners recently went over the books of the institution. In June a run on the bank followed resignation of C. P. Lukens as assistant cashier. Officials at that time, however, issued a statement that the bank was sound financially.

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DIRECTORS SAY PATRONS MAY NOT LOSE A CENT

Charles P. Lukens, former assistant cashier of the Parkesburg National Bank, tendered his resignation as Parkesburg borough treasurer at a meeting of council last night.

The resignation of Mr. Lukens was purely voluntary, although it had been intimated in various quarters that it would be demanded at last night's meeting. It was forwarded to council in a letter postmarked Philadelphia.

Lukens is one of the central figures in the Parkesburg storm now raging over the closing of the National Bank because of a serious money shortage. He was assistant cashier of the bank until June when his resignation was followed by a run on the bank.

George A. Cardwell, well known resident of Parkesburg, was named borough treasurer last night to succeed Mr. Lukens.

When the bank closed Saturday Lukens came into the limelight once again when it became known he had deposited some of the borough funds there. It is rumored the shortage may reach nearer $100,000 than $50,000 as at first supposed, although no statement has been made by bank officials.

Bank examiners and officers are maintaining a strict silence considered by many to be very unusual. It is freely admitted there is a shortage, but the responsibility for the same has not been placed on any one person and no arrests have been made. Meanwhile, the banks doors are closed.

Directors express their belief the depositors will not lose a cent, the bank being supported to the amount of $50,000 by the national government, forfeited bonds and the strength of the directors and stockholders.

Last night's council session was very stormy, but, strangely enough, the police question created an even greater discussion than the probable loss of $13,000 of the borough's sinking fund placed on deposit in the closed institution.

Parkesburg lately has been affected by a series of disasters including suicides, the shooting of a prominent young man, trouble over policemen and the most recent, and most serious of all, the closing of the bank, which may result in the loss of hundreds and thousands of dollars by depositors.

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CASHIER QUITS AS TREASURER OF TOWN COUNCIL

Blamed For Depositing Nearly $100,000 In Bank Closed Since Saturday

BIG MONEY SHORTAGE

Parkesburg, Pa., Oct. 7.—George A. Cardwell was last night elected borough treasurer at a meeting of council to succeed Charles P. Lukens, whose voluntary resignation was forwarded to council in a letter postmarked Philadelphia.

Lukens is one of the central figures in the local storm now raging over the closing of the Parkesburg National Bank, because of a serious money shortage. Lukens was assistant cashier of the bank until June when his resignation was followed by a run on the bank.

When the bank was closed Saturday Lukens came into the limelight once again when it became known he had deposited some of the borough funds there. It is now rumored the shortage may reach nearer $100,000 than $50,000 as at first supposed although no statement has been issued by officials.

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Parkesburg Names Treasurer; Fills Places Of Lukens

Voluntary Resignation Of Lukens, Missing Bank Cashier, Forwarded To Council

(International News Service) PARKSBURG, Pa., Oct. 7.—George A. Cardwell was last night elected borough treasurer at a meeting of council to succeed Chas. P. Lukens whose voluntary resignation was forwarded to council in a letter postmarked Philadelphia.

Lukens is one of the central figures in the local storm now raging over the closing of the Parkesburg National bank because of a serious money shortage. Lukens was assistant cashier of the bank until June when his resignation was followed by a run on the bank.

When the bank was closed Saturday Lukens came into the limelight once again when it became known he had deposited some of the borough funds there. It is now rumored the shortage may reach

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BANK OFFICIAL TAKEN.

Arrests Made After Doors of Institution Are Closed.

PHILADELPHIA, Pa., Oct. 9.—Charles B. Lukens and A. C. Hamill, respectively former and present assistant cashiers of the Parkesburg, Pa., National bank, which closed its doors last Saturday, were arrested here yesterday on warrants, charging embezzlement. Arraigned before Federal Commissioner Manley, they both furnished heavy bail, Lukens' bond being fixed at $25,000 and Hamill's at $10,000.

Henry B. Davenport, federal bank examiner, said the missing funds would reach over $100,000.

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PARKESBURG'S CASH AND CREDIT SCARCE

Confidence Fails To Return With Rumor Of 85 Cents On Dollar

LOSS STEADILY MOUNTS

Neither reports of the probable arrest of another man in connection with the failure of the Parkesburg National Bank nor the rumor that the institution may be able to pay 85 cents on the dollar, has served to lift the cloud that enshrouds the public confidence of the citizens of the boro.

There is a dearth of ready money in the hands of money and merchants are complaining of lack of business and of requests for credit.

The rumors and counter-rumors that invariably follow in the wake of such catastrophes as the bank failure and the intimate relation of those accused of wrecking the institution with the business and civic life of the community may be said to have completely undermined the civic morale of Parkesburg.

This is demonstrated by the insistance of the boro council of a bond of $20,000 for its new treasurer, George Cardwell, and by the counter insistence of Mr. Cardwell upon a bond protecting him against loss through repository banks.

The fact that Charles D. Lukens, who served as treasurer under a bond of $6,000, executed in 1904 and signed by relatives, two of whom are dead, is now being held under embezzlement charges with A. C. Hamill, who is still a member of the boro council, has resulted in a belated attempt to adequately protect the boro finances.

The amount of the defalcation and losses is now estimated to be between $120,000 and $130,000. To offset this there is $50,000 capital stock of the bank, $25,000 surplus and $15,000 to be secured from the bonds of Lukens and Hamill. There can be collected by law $50,000 from the stockholders. It remains to be seen, however, whether or not this estimate will materialize into sufficient funds to meet the demands of the repositors and creditors.

President T. C. Young, of the bank, who is 72 years old, has been crushed under the strain of the past few days and he was yesterday compelled to take to his bed.

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IRREGULARITIES EXTENDED OVER 20-YEAR PERIOD

Depositors in Parkesburg National Bank Have Their Pass Books Returned and Accounts are Short

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PARKESBURG LIKES BANK RECEIVER

Residents Look Upon Miss Darlington as Friend and Neighbor.

Survey of Wrecked Bank Shows Sad Condition, With Predicted Payment of 10 to 12 Per Cent. Dividends.

Writes the Parkesburg correspondent of the News: Word reached here at 10.55 last night and was immediately relayed to the correspondent of this column, from a high local official source, stating that Miss Isabel Darlington, the pioneer woman member of the Chester County Bar, has been appointed receiver for the defunct National Bank of Parkesburg, which closed its doors on Saturday, October 4th, and will take hold of the administration of its affairs at once. The message also stated that Miss Darlington enjoys the unique distinction of being the first woman in the history of the United States national banking system to be awarded the signal honor of being appointed to assume the responsibilities of such a receivership. Simultaneous with the announcement came the query: "What is the standing of this woman attorney in your county?" and the answer was flashed back, like a shot: "Product of its finest old Quaker stock—Quakers who can fight for right."

From the same source comes the confirmation that the shortage will far exceed the $200,000 named in this paper soon after the failure of the bank, and that the percentage of salvage recoverable to the depositors will range somewhere between 10 per cent. and 18 per cent., but is most likely not to exceed 12 per cent.

With three men, Charles P. Lukens, former assistant cashier, who was discharged by U. S. Bank Examiners last June, three weeks prior to the run on July 17th, his successor, A. Carrol Hamill, a former clerk, and A. H. McAdams, a New York promoter

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For past years Miss Isabel Darlington has been the law partner of Congressman T. S. Butler at the West Chester, Pa. bar. She is also the first woman in the United States to become = bank receiver. Miss Darlington was appointed receiver of the Parkesburg. P2.. National bank which lost $100,000 through embezzlement by former officials. She has been successfully managing the bank back to a position of safety and security. Although usually successful herself both in business and professional life Miss Darlington claims that the business and professional world is not the natural place for women. And she further states that necessity only drives the majority of women into the business worki.

Dr. Eliza Mosher, of Brooklyn, N. Y., has been practicing medicine for the last fifty years. She will be the guest of honor at a dinner at the new Hotel Roosevelt, N. Y. C., on March 25th which fifty societies will be represented. Dr. Mosher is graduate of the Uni- ory. versity of Michigan. and director of physical training at Vassar, Wellester and Adelphia Colleges.

Ancie Avinoff. entomologist in Camegie Museum. former Russian nobleman. artist and traveler, has discovered a feminine Utopia. or Thibet on the fringe of the Himalaya he "Milady of has from three to five bands. They tend the and find recreation in knitting contests. The is the Any men

Mary Garden may tin the new central manager of the Monte Carto opera. Baron Gunsbourg. former manager. has retired and the of Miss Garden in pressol by the Prince of who considering er the management of his opera house by woman would is too startling an According to report, Miss Garden is ready to accept the appointment, but her final selection entirely depends upon the Prince of Menaco. principal obstacle is believed to be Miss Garden's nationality, as the prince's policy thus "II has bec. to name only Frenchmen to the higher positions in his state.

An old fashioned roli top oak desk, used for many years by Susan B. Anthony and containing many compartments enserolled with notes in her handwriting, has been lent to the National League of Wemen Voters for display at its heanquorters here by Mrs. Harriet Tayla. Upton of Ohio, ex-chairman of the executive committee of the Republican national committee. Left the memento in the will of Miss Anthony, Mrs. Upton, a close friend of the pioneer suffrace worker, has entrusted the desk to the league "until a national group gathers Miss Anthony's mementoor a building her

Men of Uncle Sam's fighting forces who get into scrapes in L national capital find a stane friend in Mrs. Andrew J. Campbell For the last she visited the police almos: to assist on trial for minor Her work has been by and marine ties and by police Mrs. who had a and daughter in the service men in trouble by suppl. ing small funds or by communical ing with relatives. It is her pro. boast that TO man she :as ever returned Sre pride in another patriotic the placing of on grave the tional

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WITH THE WOMEN OF TODAY By Lillian Campbell

For the past 27 Miss years Isabel Darlington has been the law of T. the Chester, She the United States become bank ceiver. Miss appointreceiver the Parkesburg, National bank which lost through by former officials. been successfully the bank back to position safety security. Although unusually successful herboth business and professionlife, Miss Darlington claims that the world not the place for ther states that necessity only drives the majority of women into the busiworld.

Dr. Eliza Mosher of Brooklyn, has medicine the last fifty years. She will be the guest of honor at dinner the new Hotel Roosevelt, at societies Mosher of sity of Michigan, director training Vassar, Wellesey and Aldelphia colleges.

Andre Carnegle former Russian nobleman, artist and traveler, discovered feminine Utopia.

"It's Ladlack, or West Thibet, on the fringe of the Himalaya mountains," said. "Milady of Ladlack has from three to five bands. tend looms and recreation knitting The woman is boss. men left over Any go into

Mary Garden may be the Baron has retired and the candidacy of Miss Garden is now being pressed upon the Prince of Monaco, who whether the opera by woman would be too startling an to report, Miss Garden ready accept the but ber final entirely pends upon the Prince Monaco. Miss prince's thus far been name only to the higher positions in his state.

An old fashioned roll top oak used years Anthony and many compartments with notes in her handwriting, has been lent National of Women Voters display its ters Harriet Taylor Upton Ohio, executive the Republinational committee. Left momento the will of Miss Anthony, Mrs. Upton, close worker, entrusted the desk the group gathers Miss erects building to her memory.

Men of Uncle Sam's fighting forces national staunch friend Mrs. Andrew Campbell. For the last three years she has visited the police courts almost daily to assist and marines trial for has by army, navy marine authorities and by police magistrates. Campbell, who had son helps by supplysmall funds with relatives. her proud boast that no man aided returned court. She takes pride another patriotic service, the placing wreaths on every new grave the Arlington National Cemetery. the

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FOR MOTHER AND THE GIRLS, FATHER AND THE BOYS

SAYS BUSINESS NOT FOR WOMAN

Miss Isabel Darlington, the first woman bank receiver in the United States, and for the 27 past years law partner of Congressman Butler at the West Chester, Pa., har, claims that the business and professional world not the natural place for women. Darlington was appointed receiver Parkesburg, National Bank, which lost $100,000 through by former officials, she has been successfully managing bank back to position safety security. states necessity majority women into the business world.

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With of Today

For the past years Miss IsaDarlington has been the law partner of Congressman But ler the West Chester, Pa., bar also the first woman in the United States to become bank receiver. Miss was pointed receiver of the Parkesburg. National bank which lost $100, 000 through embezzlement by former officials. She cessfully managing the bank back position safety and security. Although unusually successful herself both business and fessional life, Miss claims that the and fessional world is not the natural place for woman. And further states that necessity only drives the into world.

Eliza Mosher of Brooklyn, has the last years. She will the guest of honor dinner the Hotel on at which will be represented. Mosher graduate of the University Michigan, and director physicial training Vassar, Wellesley and Adelphia colleges.

Men Uncle Sam's fighting forces into scrapes capital stanch friend Mrs. Andrew Campbell. For last three years she has visited police courts almost daily assist soldiers, sallors and marines trial for minor offenses. Her been commended navy and marine authorities and police magistrates. Mrs. Campbell, who had in the helps by supply small funds proud boast that man has aided to takes another patriotic service, the placing of every grave in the Arlington tional Cemetery.

Mary Garden may be the new the Monte Gunsbourg manager, has retired and the candidacy of Miss Garden being pressed upon Prince Monaco, wheththe management of his famous opera house by woman would be startling an innovation According report, Miss Garden is ready accept the appointbut final entiredepends upon the Prince Monaco principal obstacle believed Miss Garden nationality, as prince's policy far been to the higher positions

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THE Mrs. Lilian Campbell the past 27 years Miss Isabel Darlington has been the law partner Congressman Butler at the West Chester, She also the first woman in the United States become bank receiver. Miss Darlington appointed receiver of the Parkesburg Pa., National bank which lost $100,000 through embezzlement by former offiShe has been successfully aging the bank back to a position of safety and security. Although unusually successful herself both in business and professional life. Miss Darlington claims that the business and professional world is not the natural place for woman. And she further states that necessity only drives the majority of women into the business world.

Dr. Eliza Mosher Brooklyn, been for the honor dinner the Hotel York March which societies sented. Dr. Mosher graduate Michigan, and director training Vassar, Wellesley and Adelphia

Andre Avinoff. entomologist in Car. negle Museum, former Russian man, artist and traveler, has feminine Utopia. West Thibet, on fringe Ladlack has three to looms find recreation contests. The woman the men left over into

Mary Garden may be the new manager Monte Carlo Baron Gunsbourg, former manager, retired and the candidacy Miss being pressed upon Prince Monaco, who the management opera woman would startling report, Miss Garden ready accept the appointment, final entirely depends Prince Monaco. stacle believed to be Miss Garden the prince's policy name only Frenchm to the higher positions in his state,

An old fashioned roll top oak years Susan thony ments with notes been tional Women Voters display headquarters Harriet Taylor Upton of Ohio, man the executive committee of Republican national committee. Left the memento in the of Anthony. Mrs. Upton, close friend the pioneer suffrage worker, has trusted the desk league national group mementos erects building to

Men of Uncle Sam's fighting who the capital stanch friend Mrs. drew Campbell For the last thr years she has visited the police almost assist soldiers, and marines trial for minor offense Her work been commended army. marine authorities by Mrs. Campbell, who had son daughter service, helps men trouble small by with proud beast she aided She pride another placing every new in the Arlington National cemetery.

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For the past Miss Isabel Pa., She also the first woman United States begome bank receiver. Miss Dar. ling was receiver the Parkesburg, National lost $100,000 through by officials. has been successfully managing the bank to position of safety and security. Although unusually self both business and professional life, Miss claims that the business and professional world not the natural place for And she further states necessity only drives the majority of women into the business world

Dr. Eliza Mosher has medicine for the last fifty years. will the guest Hotel on March 25th which city will represented. Dr. graduthe University Michigan. and Vassar. Wellesley and Adelphia col-

Andre Avinoff, in Car negle former bleman, artist and has "It's West OD the frings of the has to five They the and find recreation in woman the boss. Any men left over go monasteries."

Mary Garden new general the Monte Carlo Baron former manager. has retired and the candidacy of Miss Garden is being upon the Prince of Monaco, who whether the manof his house would to too starting

According report. Miss Garden is ready accept the but her final selection entirely depends

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One-Minute Interviews

The members of borough councils get no pay for their services. The the Parkesburg Berough Council great dit for the they are dering the borough with compensation. LIAM E. SMITH.

It took good while to bet proposal repair the street Modena through council but it finally went through by unanimous vote. The repairing of this street between the railroad and the covered bridge will be big improvement and hope to have completed before WALKER.

The first batch of Highway Facts booklets that for free were all applied for within few hours after got them, and an awful lot of people applied for them after they were all gone. There are about 2,000 in this batch and expect that they will_all be claimed very quickWILLIAM W. LONG.

The status of the controversy over the claim of the Parkesburg National Bank against the borough is unchanged. The bank receiver claims that the borough owes the bank about while council claims that this not the case. The matter is still unsettled and don't know what the result will H. GERBERICH.