Welden National Bank (St Albans, VT)

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26 NATIONAL BANKS OPEN IN STATE, 19 STILL CLOSED

Boston. — Twenty-six national banks in Vermont have been licensed and are open said Federal Reserve District headquarters here Thursday, and 19 have not been licensed.

The list is as follows:

National banks opened in Vermont: County National Bank, Bennington; First National Bank, Bennington; First National Bank, Brandon; Howard National Bank & Trust Company, Burlington; Merchants National Bank of Burlington; National Bank of Chester, Chester; Caledonia National Bank, Danville; National Bank of Derby Line, Derby Line; Allen National Bank, Fair Haven; First National Bank, Fair Haven; Factory Point National Bank, Manchester Center; National Bank of Middlebury, Middlebury; First National Bank, North Bennington; Northfield National Bank, Northfield; First National Bank, Orwell; Randolph National Bank, Randolph; Richford National Bank, Richford; Killington National Bank, Rutland; Rutland County National Bank, Rutland; First National Bank, Springfield; First National Bank, St. Johnsbury; Merchants National Bank, St. Johnsbury; National Bank of Vergennes, Vergennes; National Bank of Newbury, Wells River; First National Bank, White River Junction; Woodstock National Bank, Woodstock.

National Banks not yet opened in Vermont: People's National Bank, Barre; National Bank of Bellows Falls; National White River Bank, Bethel; Bradford National Bank, Bradford; Brandon National Bank, Brandon; Vermont-People's National Bank, Brattleboro; First National Bank, Bristol; National Bank of Orange county, Chelsea; First National Bank, Enosburg Falls; Island Pond National Bank, Island Pond; First National Bank, Montpelier; Montpelier National Bank, Montpelier; National Bank of Newport, Newport; Citizen's National Bank, Poultney; National Black River Bank, Proctorsville; Central National Bank, Rutland; Clement National Bank, Rutland; Welden National Bank, St. Albans; State National Bank, Windsor.

Between 1815 and 1918, no less than 44 distinct wars had been fought for the sake of nationalism.

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STOCKHOLDERS SUED BY BANK RECEIVER

$7000 Is Sought From Burlington, St. Albans Residents By R. W. Ready.

Papers have been served through the office of United States Marshal Edward L. Burke of this city, in actions brought by R. W. Ready, receiver of the Welden National bank of St. Albans against four stockholders of the insolvent institution, Caroline S. Jackson of Burlington, Bruce Corliss, William O. Wise and Leo F. Willson of St. Albans, for the collection of $7000.

Ready sets forth in his complaint that on March 4, 1933, the Welden bank was declared insolvent by the comptroller of currency of the United States, and that on December 28, 1933, he was appointed receiver.

The plaintiff asserts that under the laws of the United States, stockholders of every national banking association are held individually responsible for all contracts, debts and engagements of the association, each to the amount of his stock at par value, in addition to the amount invested in stock.

Ready charges that the four defendants have refused payment of the claims made upon them.

From Caroline S. Jackson of Burlington, who according to Ready, owns 10 shares of stock, the plaintiff seeks to collect $1500.

From William O. Wise of St. Albans city, owner of 10 shares of stock, $1500 is sought by the plaintiff.

From Leo F. Willson of St. Albans, owner of 25 shares of stock, Ready asks $3000.

From Bruce Corliss of St. Albans, owner of five shares of stock, the plaintiff seeks to collect $1000.

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STOCKHOLDERS SUED BY BANK RECEIVER

$7,000 Sought From Burlington, St. Albans Residents by R. W. Ready in Federal Court.

RUTLAND, Aug. 26.—Papers have been served through the office of United States Marshal Edward L. Burke of this city, in actions brought by R. W. Ready, receiver of the Welden National bank of St. Albans, against four stockholders of the insolvent institution, Caroline S. Jackson of Burlington, Bruce Corliss, William O. Wise and Leo F. Willson of St. Albans, for the collection of $7,000.

Ready sets forth in his complaint that on March 4, 1933, the Welden bank was declared insolvent by the comptroller of currency of the United States, and that on Dec. 28, 1933, he was appointed receiver.

The plaintiff asserts that under the laws of the United States, stockholders of every national banking association are held individually responsible for all contracts, debts and engagements of the association, each to the amount of his stock at par value, in addition to the amount invested in stock.

Ready charges that the four defendants have refused payment of the claims made upon them.

From Caroline S. Jackson of Burlington, who, according to Ready, owns 10 shares of stock, the plaintiff seeks to collect $1,500.

From William O. Wise of St. Albans city, owner of 10 shares of stock, $1,500 is sought by the plaintiff.

From Leo F. Willson of St. Albans, owner of 25 shares of stock, Ready asks $3,000.

From Bruce Corliss of St. Albans, owner of five shares of stock, the plaintiff seeks to collect $1,000.