Article Text
NEW PANA BANK OPENS JULY 1; BUY DEFUNCT FIRM'S EQUIPMENT Pana, III., June 7. [Special.] Stockholders of the New First National Bank of Pana today purchased, subject to approval of the controller of the and the federal court, the modern bank building, vaults, safe, and entire equipment of the defunct Pana National bank. The new bank will E. T. Martin, of the Pana National bank, which closed its doors following heavy run March 28, has approved and negotiated the sale. Pana has been without bank since that time, The not disclosed. The First National bank will elect directorate and officers June 16. It will have $100,000 capital and $25,000 surplus, paid up.