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REYNOLDS BANK SHUTS ITS DOORS Shortage of More Than $16,000 Is Reported DEPOSITORS PROTECTED Reynolds Banking Company closed its doors this morning. The closing caused by an alleged of between $16,000 and $17,000 of the bank's funds, according posted the doors the bank by the directors this morning. The tice by R. A. Hinton, who president and also J. A. Whatley, and W. Cook, who vice president and M. Mumford is cashier and E. D. Kirksey. asand eashier. The closed in order to protect the interests the depositors. Mr. Hinton said. The alleged short age upon investigamade by Mr. Hinton and Mr According notice posted the the bank protected any loss the fact that both the bonded the extent the American Surety Officials the are waiting for auditors from find the state of the bank's The Reynolds Banking Company the oldest in Taylor $25,000 now has its assets are Will Examine Books 30 Hinton. president of the Reynolds Banking will morrow bank examiner the of the which was closed At his hotel here told the Associated Press shortage approximately had been the two trusted employes of the and that today to Banking Department after the men had failed attempt to make the alleged Confronted with the charges, President Hinton the admitted the that they began two ago when they tained losses in logging which they were according to Mr. that relatives would good the and them to Reynolds shortage, at They bring arrived yesterday, but failed to the necessary where upon the bank president left for At to the Hinton State Banking Mr. Asked charges had been placed against the alleged Hinton replied in the say simply it was matter for company their surety. He the was amply He denied reports that there had been run and said being taken for an early State Banking Department officials said tonight that them the the had suspended shortage and asked that investigation