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CLOSE BANKS ATANNAWAN AND GENESEO State Examiner Closes Institutions After Auditing Books. to The Argus.) Ill., Oct. 25.- State Geneseo, (Special The the GeneSavings bank and estabsec of Annawan, two incounty lished Bank Henry financial well early stitutions, were closed at an state this morning by order of had bank hour examiners after they of worked all night on the books the two banks. The following notice, signed was by H. Whitlock, examiner, GenW. on the front door of the the eseo pasted bank when residents of city awoke this morning Closed by order of Andrew Rus- for auditor of public accounts, Oct. sel. investigation and adjustment, 25." The two banks are closely affili- AnWilliam H. Holzinger of ated, being vice president and innawan stockholder of each stitution, majority and two brothers, B. J. Holzinger of Annawan, and Harvey the Holzinger of Geneseo, are cashiers. Geneseo Savings bank has The under the surveillance and, of been officials for sometime exstate according to statement of the aminers today, there is a serious question whether or not the The bank Anagain open its door. was will nawan bank, it is explained, to its more as a protection than because It was feared that, the deposities dition. closed between of because its con the close connection deof run might be started by clostwo. a upon hearing of the bank. positors, ing of the Geneseo Savings H. Calhoun of Kewanee, bank examiner, W. and associated with Mr. Whitlock in examining the institu- it stated this morning that to impossible at the tions, was make any statement this time of exact decondition of the bank. but had that the institution clared under the supervision of and the been auditor for some time, state had been warned to get its affairs this, better shape. Failing in necesthe in department deemed it bank. sary to step in and close the Denied by Russel. a statement issued by Andrew he Russel In at Springfield, however, denied that the Geneseo bank is is bad condition "Nothing said, in with the bank, from temporary wrong "except trouble he has 'frozen credits. The bank too in and finds trouble The money to do sake much raising paper, business. investigation is only for the of straightening matters out.' "Bad loans and careless banking led the bank into this condi- Mr. have Mr. Calhoun stated. being a in both banks, has tion," holder Holzinger, majority been under- stock borrower, and it is on stood heavy that he has been investing a large scale in oil leases. The Geneseo Savings bank was last Wednesday and that that examined is understood audit examinaprecipitated the which tion started yesterday afternoon. will on the books The was work examiners Thursday, conclude their they declared. and in all probability the Annawan bank will then be reThere is serious doubt, however, opened. what action will be taken in regard to the local institution, they stated. Organized in 1906. The Geneseo Savings bank was in 1906 with the late John as H. organized O'Bryan president The Charles presare: President, vice president, ent S. Young; officers Harvey William HolH. Holzinger; cashier, who with John C. Theodore Zimmerman, zinger. Pitus, the Beckstein board F. and Henry Wenke form of directors. Officers of the bank attribute their present condition to to inability to make collections the current demands. of the State Anmeet Officers Bank of are: Samuel Pont, presiWilliam H. vice and B. J. nawan dent; president, Holzinger, Holzinger, cashier. The Annawan bank was institution until the first of the when it was a private year, chartered as a state bank. will The Bank exact Call condition not Statement. be of the available Gen the examiners have until eseo bank statement complet of ed their audit. The the the bank, however, made to Sept. at the last bank call, total shows that at that time which were $331,165.26 disauditor 6. resources and of its $293,126.29 were loans $12, counts, $2,223.10 overdrafts, 700.45 United States government in from vestments, and $9,667.82 due other banks. in $50.000 Its liabilities were surstock paid in, $10,000 dividends. bills payable, liabili$64,500 plus capital fund, $44 unpaid $206,158.72 in deposits and $462.54 other ties.
