Galion National Bank (Galion, OH)

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By Associated Press

Washington, D. C., Feb. 15-National Bank Examiner Robert Lyons has been appointed receiver of the Galion, Ohio. National Bank.

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OHIO BANK CLOSES

Was Unable to Meet Incoming Demands. Galion, O., Feb. 15.-By order of the board of directors the Galion National bank with a capital of $60,000 closed its doors today because of the inability to meet incoming demands and a national bank examiner has been named as receiver. The bank's statement issued on January 22 showed deposits of $350,000.

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GALION, OHIO, BANK CLOSED. Unable to Meet Demands - Receiver Appointed. The controller of the currency received a telegram today stating that by orders of the board of directors the Galion National bank of Galion, Ohio, closed its doors this morning. The bank closed, because of its inability to meet coming demands. The controller has appointed National Bank Examiner Robert Lyons, receiver. The following is a statement of resources and liabilities of the bank as shown by the last report of condition, dated January 22, 1904. Resources: Loans and discounts, $383,393; overdrafts, $4,172; stocks, securities, claims, etc., $3,500; United States bonds to secure circulation, $60,000; banking house, $21,000; due from banks and bankers, $61,088; cash and cash items, $17,930; total. $551,585. Liabilities: Capital stock, $60,000; surplus and undivided profits, $48,900; circulation, $60,000; due to banks and bankers, $1,492; deposits, $358,080; rediscounts and bills payable, $23,111; total, $551,585.

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OHIO BANK SUSPENDS

Directors of Galion National Order Doors Closed. Washington, Feb. 16.-The comptroller of the currency has received a telegram stating that by order of the board of directors the Galion National bank of Gallon, O., closed its doors during the morning. The bank was closed because of its fnability to meet coming demands. The comptroller has appointed National Bank Examiner Lyons receiver.

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OHIO BANK SUSPENDS

Directors of Galion National Order Doors Closed. Washington, Feb. 16.-The comptroller of the currency has received a telegram stating that by order of the board of directors the Galion National bank of Galion. O., closed its doors during the morning. The bank was closed because of its inability to meet coming demands. The comptroller has appointed National Bank Examiner Lvons receiver

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OHIO BANK SUSPENDS

I Directors of Galion National Order Doors Closed. Washington, Feb. 16.-The comptroller of the currency has received a telegram stating that by order of the board of directors the Galion National bank of Galion, O., closed its doors during the morning. he bank was closed because of its fnability to meet coming demands. The comptroller has appointed National Bank Examiner Lyons receiver.

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The Galion National bank of Galion has closed its doors and the Comptroller of Currency has appointed a receiver.

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Ohio Bank Fails

Washington, Feb. 15.-The Controller of the Currency received a telegram today stating that by orders of the board of directors, the Galion National Bank of Galion, O., closed its doors to-day. National Bank Examiner Robert Lyons was appointed receiver, The bank's capital was $60,000 and deposits $358,080.

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GALION (0

) NATIONAL BANK HAS CLOSED Unable to Realize on Collaterals, but Promises to Pay Dollar for Dollar. GALION, O., Feb. 15.-The Galion National Bank, of this city, did not reopen for business this morning, by order of the directorate. The officials admitted that they were unable to pay their obligations or realize on their collaterals. The president of the bank, O. L. Hays, says it will pay dollar for dollar. The controller of the currency has appointed National Bank Examiner Robert Lyons receiver. Following is a statement of resources and liabilities of the bank, as shown by the last report of condition, dated Jan. 22, 1904: Resources-Loans and discounts, $383,393; overdrafts, $4,172; stocks, securities, claims, etc., $3,500; United States bonds to secure circulation, $60,000; banking houses, $21,500; due from banks and bankers, $61,088; cash and cash items, $17,930. Total, $551,585. Liabilities-Capital stock, $60,000; surplus and undivided profits, $48,900; circulation, $60,000; due to banks and bankers, $1,492; deposits, $358,080; discounts and bills payable, $23,111. Total, $551,585.

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NATIONAL BANK CLOSED

Galion (0.) Concern Suspends Through Inability to Meet DemandsBank Not Insolvent. Washington, D. C., Feb. 15.-The comptroller of the currency received a telegram today stating that by order of the board of directors the Galion National bank of Galion, O., closed its doors this morning because of its inability to meet coming demands. The comptroller has appointed National Bank Examiner Robert Lyons receiver. The following is a statement of resources and liabilities dated January 22, 1904: Resources-Loans and discounts. $383,393; overdrafts, $4172; stocks, securities, claims, etc., $3500; United States bonds to secure circulation, $60,000; banking house, $21,500; due from banks and bankers, $61,088; cash and cash items, $17,930; total, $551,585. Liabilities-Capital stock, $60,000; surplus and undivided profits, $48,900; circula. tion, $60,000; due to banks and bankers, $1492; deposits, $358,080; discounts and bills payable, $23,111; total, $551,585.

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Galion, Ohio, April 15.-R. W. John ston was appointed receiver of the Galion Wagon and Gear Co. today and at the same time D. Bachelder and E Flickinger were appointed receivers of the Flickinger Wheel Co. Both concerns were heavily indebted to the Galion National bank which suspended recently. The concerns have not been running for some time. hence the business of the community will not be affected. Assets and liabilities not given.

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Receivers For Two Concerns

Galion, O., April 18.-Receivers were appointed for the Flickinger wheel works and for the Galion wagon and gear works of this city. David Bachelor and E. Flickinger are receivers for the former and R. W. Johnson is receiver for the latter. The embarrassment of these concerns, is alleged to be a result of the recent failure of the National bank at Galion.

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The Toledo, Columbus & Cincinnati electric railway which will pass through Bellefontaine, will, if plans of the promoters materialize, be in operation next June, as work on the construction of the line will begin this fall. A branch office has been opened in Marion which when the line is completed will be made permanent headquarters of the road from Marion to Findlay and the central point on the entire system.

A New York syndicate is interested in the Toledo, Columbus and Cincinnati Railway company's project and the work will be pushed to completion as rapidly as possible.

The lines of this road connect many important towns and cities in Ohio. Toledo is the northern terminus; Columbus, the eastern and Cincinnati, the western. Other important places through which it passes are Lima, Indian Lake and Bellefontaine.

Wednesday's Cleveland Plain Dealer says:

Edward Flickinger, president of the Flickinger Wheel Co., went to the office of the United States attorney in this city yesterday and gave himself up. He was placed under arrest on the charge of aiding and abetting O. L. Hays, president of the suspended Galion National bank, in making a false entry in the books of that institution.

This makes the third arrest in connection with the Galion affair. Flickinger, his partner Jacob Keene and President Hays are all under arrest.

Flickinger was released on $5,000 bond. He was bound over to await action of the federal grand jury.

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Galion, O., July 10.-The creditors of the Galion National bank have been notified by M. R. Patterson, receiver, that a dividend of 25 per cent has been declared, payable July 25. About $75,000 will be distributed.

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Receiver M

R. Patterson is offering at public sale the real estate and building of the Galion National bank, also the bank fixtures and postoffice fixtures in the building. The sale will be on the premises Saturday, Nov. 5.

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As receiver of the Galion National bank, of Galion, Ohio, M. R. Patterson has made application to the common pleas court at Columbus for authority to settle the claim of the bank against John and L. C. Blyth.

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All Around the Globe

On the petition of the creditors Walter K. Sharfer of Chambersburg. Pa.. was appointed receiver for the Wolf Manufacturing Company, near Chambersburg. The liabilities, it is said, will reach nearly $500,000. Nathan Loeser of Cleveland, Ohio. was appointed trustee of the effects of O. L. Hays, the defaulting president of the Gallion, Ohio, national bank. Voluntary bankruptcy proceedings were begun by Hays in the United States District Court. recently. The interstate commerce commission at Topeka named June 7 as the date of hearing at Washington the complaints regarding alleged discrimination in grain rates against Kansas shippers. The United States cruiser Washington, lying at League Island navy yard, was presented with a handsome silver service by Col. N. E. Lindsay of Spokane on behalf of the State of Washington. Joseh Varroi, a master mechanic emloyed by the contractors who are digging the Pennsylvania railroad tunnel under the East river from Manhattan to Long Island City, was crushed to death in a stone crusher. The C. C. White Memorial building of the Nebraska Wesleyan university was dedicated in the presence of a distinguished company. The dedicatory address was by Gov. Henry A. Buchtel of Colorado. Fire destroyed the piano and music store of the Smith & Nixon Company at Louisville, with a loss of about $100,000. The fire was fought in the face of a blizzard which raged for two hours. Unable to agree upon a verdict, the jury in the case of Corporal William F. Wineberger, charged with the killing of Private Frederick Geeney Jan. 26, was discharged. Both men belonged to an artillery company stationed at Fort Washington, Md.