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WESTPOINT BANK CLOSE ITS DOORS PRIVATE INSTITUTION IN HANDS OF RECEIVER - CASHIER IS MISSING. West Point, Feb. 19.-The bank of West Point, a private institution, closed its doors yesterday. Cashier Lawrence Smith has left the city. His present whereabouts is unknown. Riley Smith, the president of the bank, who is the father of the cashier, states that the depositors will be paid in full. The cause of the failure is probably due to the financial stringency and to poor loans. Herman Schroeder of Ft. Madison has been appointed receiver by the court. Smith, the cashier, is mayor of the city, his term expiring in March. He is also treasurer of the school board. He is thirty-one years old, is married and has one child. He has lived in West Point for the past fifteen years. No statement could be obtained regarding the amount of liabilities and assets. Excitement at West Point. West Point was thrown into no little amount of excitement by the announcement that the bank had closed its doors to the public. Riley Smith, the owner and president of the institution is a resident of Colusa, Ill. He is well-to-do, owning a large amount of farm property in Illinois. Lawrence Smith has been cashier of the institution ever since the property was purchased of F. Kreikenbaum. The family, who are almost prostrated over the situation, do not know the cashier's whereabouts. It is thought by his friends that there is nothing serious connected with his absence; that being in poor health and besieged by worry over the affairs of the bank he has gone away for rest of mind and body.
