Peoples National Bank (Swanton, VT)

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/ National Bank Closed

Washington, Aug. 19.-The Peoples National Bank at Swanton, Vermont, was closed today by order of the Comptroller of the Currency. National Bank Examiner Frank L. Fisk has been appointed receiver.

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By Order Comptroller Of Currency ACTION WAS TAKEN TODAY National Bank Examiner, F. L. Fish, Has Been Appointed Receiver For Institution. Washington, Aug. 19.-The People's National Bank of Swanton, Vermont, today closed its doors by order of the comptroller of the currency, National Bank Examiner Frank L. Fish has been appointed receiver.

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NATIONAL BANK AT SWANTON CLOSED BY COMPTROLLER. Washington, Aug. 19.-The People's National Bank at Swanton, Vt., was closed today by order of the comptroller of the currency, National Bank Examiner Frank L. Fish has been appointed receiver. St. Albans, Vt., Aug. 19.-The People's National Bank of Swantori, a small town, ten miles north of this city, and near the Canadian border, did not open for business today, its finances having been found to be in an unsafe condition. National Bank Examiner Frank L. Fish of Vergennes, who has been named as temporary receiver of the institution, was in charge of its affairs this forenoon, but up to noon he had not made any statement except to say that the bank has been closed by order of the Washington authorities.

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National Bank Closed

Washington, Aug. 19.-The People's National bank at Swanton, Vt., was closed today by order of the comptroller of the currency. National Bank Examiner Frank L. Fisk has been appointed receiver.

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SWANTON (VT

) BANK CLOSED. Swanton, Vt., Aug. 19.-The - People's National Bank, the only bank in the town, was closed today by order of the Controller of the Currency. Frank L. Fish, national bank examiner, was in charge as temporary receiver. The bank is a small one, the capital being $50,000. It was patronized by the country people in this part of the State. C. H. Sanborn was cashier. The cause of the suspension was the inability of the bank officials to collect a number of notes which were due. Business men think the creditors will be paid in full, and the bank may possibly be reopened.

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BRIEF BITS OF NEWS

William O'Brien has been re-elected member of parliament for Cork city, unopposed. The harvest in the government of Samara, in the west of European Russia, is the best of many years. The archbishop of Canterbury, Dr. Davidson, has sailed from Liverpool on a visit to the United States. The People's National bank at Swanton, Vt., has been closed by order of the comptroller of the currency. The supreme lodge, Knights of Pythias, has voted to hold the next biennial encampment at New Orleans. Victor Rice, of the University of Chicago, Western college champion sprinter, has broken down and will probably never run again. At the convention of the National Sons of Veterans at Boston William E. Dustin of Dwight, Ill., was elected commander-in-chief by acclamation. James E. Turrill, who recently resigned as treasurer of the Union Tank lines of the Standard Oil company, is dead at his home in Plainfield, N. J. Michael Callahan and John Markham of Van Horne, Ia., were killed by a Chicago and Northwestern freight train at a grade crossing near Blairstown, that state. Prince Henry of Prussia, who is going to St. Petersburg to represent Emperor William at the christening of the heir to the Russian throne, has gone to Wilhelmshohe castle to receive instructions from the emperor.

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BANK CLOSED AT SWANTON Could Not Collect Notes On Which It Had Loaned. Swanton, Aug .-The Peoples Nationl Bank closed its doors this morning. A notice on the door says "Closed pending an examination by the commissioners." The books of the bank are being examined by Bank Examiner Frank L. Fish of Vergennes and by Robert Lyon of the office of the comptroller of currency at Washington. Mr Fish has been appointed as temporary receiver. He would make no statement today except to say that the bank had been closed by order of the Washington authorities. The bank did not open today, the finances having been found to be in an unsafe condition. The suspension came as a great surprise to the general public which had not suspected any trouble. It is declared on good authority that the suspension is due to inability to collect certain notes, that the assets of the bank largely exceed the deposits and that it is probable that the depositors will be paid in full. It is understood that measures have been taken during the past few months to strengthen the resources of the bank.

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VERMONT BANK BROKE

Washington, Aug. 19.-The People's National bank at Swanton, Vt., was closed today by order of the comptroller of the currency. National Bank Examiner Frank L. Fisk has been appointed receiver.

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ABOUT THE STATE.

Items of Interest Gleaned From Our Exchanges.

Nothing new has developed in regard to the suspension of the Peoples National Bank of Swanton. The examiners are at work on the books but no statement has been issued. Confidence appears to be gaining that the bank will pay in full, it being only a matter of time when the affairs will be in shape so that a dividend can be declared. J. E. Morrison of Rutland has been sent for to assist the present examiners, F. L. Fish and Robert Lyon.

It is announced that Senator Fairbanks, the Republican candidate for vice president, would speak at White River Juction, August 29. It was at first planned to have the senator speak at Rutlaud, but the matter being left to him, he expressed a desire to speak in Windsor county, his father having lived at Barnard, in that county, and White River Junction was the most suitable place in the county for a great political rally. Attorney-general William H. Moody, of Massacusetts, will address a great meeting at Rutland, the date of which has not been fixed.

Great prepararions are being made for Labor day, which is to be observed by the Morrisville branch of the Granite Cutters' Union at that place September 5. It is expected that between 300 and 400 stone cutters from Hardwick and Woodbury will be present to take part in the sports. A grand parade will start at the railroad station promptly at 9.30 in the morning and make a circuit of the principal streets ending on the fair grounds. A feature of the day will be a ball game between Hardwick stone cutters and Morrisville, for a purse of $500. Two horse races, a 2.30 and a 2 50 class, will also be attractions.

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Vermont Bank Closed

The People's National Bank, of Swanton, Vt., was closed and put into a receiver's hands by the Controller.

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The Peoples' National Bank of Swanton closed its doors Friday, pending an examination by the commissioners. The books of the bank are being examined by Bank Examiner Frank L. Fish of Vergennes and by Robert Lyon of the office of the comptroller of currency at Washington. Mr. Fish has been appointed as temporary receiver. The suspension came as a great surprise to the general public which had not suspected any trouble. It is declared on good authority that the suspension is due to inability to collect certain notes, that the assets of the bank largely exceed the deposits, and that it is probable that the depositors will be paid in full. The bank has a capital stock of $50,000. surplus of $493, circulation $50,000, deposits $142,886. It has loans and discounts of $106,421, U. S. bonds $59,000, and total resources of $258,379.

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ABOUT THE STATE.

A large tiger cat called Nan, belonging to Mrs. N. F. Ashton of Brattleboro, died last week. It was nineteen years old, having been born in New York city in 1885. Not often does a cat live to such great age, and the case is more remarkable from the fact that the cat retainded all its faculties, including good eyesight, until a month ago. The animal knew a number of tricks, which it performed up to a few weeks ago as well as when first taught in its kittenhood.

The new Bellows Falls Academy at Fairfax will be formally opened Wednesday afternoon, Aug. 31, at 1.30 o'clock. The public is invited and the following programme will be carried out in the assembly hall of the academy: Music; address for the donor and treasurer's report, F. W. Shepardson; address for the town in recognition of benefits conferred, Ira Hunt; music; address, M. H. Buckham, president of University of Vermont, Burlington; music; address, Walter E. Ranger of Montpelier, State superintendent of education; music; presentation of principal and delivery of keys, C. A. Hawley; address, Principal Merritt D. Chittenden; music. Music will be furnished by the Howard Opera House Orchestra of Burlington.

The first annual banquet of the Caledonia county grammar school alumni association was held at Peacham on Thursday evening and was a notable success, 175 being present. N. J. Whitehill, principal of the White River Junction high school, was toast master, and the speakers included former principal, Dwight C. A. Bumker, the present principal, Dwight G. Burrage and Charles J. Bell, Republican candidate for Governor. This school, which is now known as Peacham academy, has recently passed its 107th year and numbers among its distinguished graduates Thaddeus Stevens and his cousin, the late B. Frank Stevens, the London antiquarian, Oliver B. Johnson, the noted abolitionist, ex-Congressman J. B. Gilfillan of Minneapolis and Col. George Harvey, editor of Harper's Weekly.

There has nothing new developed in regard to the suspension of the People's National Bank of Swanton. The examiners are at work on the books but no statements have been issued. Confidence appears to be gaining that the bank will pay in full, it being only a matter of time when the affairs will be in shape so that a dividend can be declared. J. E. Morrison of Rutland, has been sent for to assist the present examiners, E. L Fish and Robert Lyon.

The Rutland Railroad Company has just been sued in the United States circuit court for Northern New York by Warren Mitchell of Franklin county, who claims $10,000 damages for injuries received on one of its trains that was run into by another one last January. Mitchell claims that three ribs were broken and other injuries received which required the attendance of a physician for two months. He claims that the accident was caused by the negligence of employees of the road.

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Vermont Bank Closed

The People's National Bank, the only banking institution in Swanton, did not open for business August 19. A note on the door gave the information that the institution was closed by order of the Controller of the Currency. National Bank Examiner Frank L. Fish was in charge as temporary receiver. Mr. Fish said that he could not make any statement concerning the affairs of the institution until after an examination. The bank is a small one, the capital being $50,000. The People's Bank did not do a large business. It was patronized mainly by the country people in that section of the state. C. H. Sanborn was cashier. The failure is regarded as being unimportant. Examiner Fish had been in Swanton two or three days making a thorough investigation of the books and at its conclusion he decided that the list of the assets was so unsatisfactory that the doors of the concern should be closed. The Controller of the Currency was notified by telegraph of the situation and Mr. Fish was named as temporary receiver. He is considered one of the leading national bank experts in New England. The specific cause of the suspension was the inability of the bank officials to collect a number of notes which were due and which were held as collateral by the institution. Business men are of the opinion that the creditors will be paid in full and that possibly the bank may be reopened. The following is a statement of the resources and liabilities of the bank, as shown by its last report of condition to the Controller of the Currency, dated June 9, 1904: Resources--loans and discounts, $106,421; overdrafts, $4,382;

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The People's National bank, the only bank in Swanton, was closed Friday by order 0 fthe controller of the currency. Frank L. Fish, national bank examiner, is in charge as temporary receiver. The bank is a small one, the capital being $50,000. C. H. Sanborn was cashier. The cause of the suspension was the inability of the bank officials to collect a number of notes which were due. Business men think the creditors will be paid in full, and the bank may possibly be reopened.

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Closes National Bank

Washington dispatch: The People's National bank at Swanton, Vt., has been closed by order of the comptroller of the currency. Frank L. Fisk, national bank examiner, has been appointed receiver.

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The Swanton savings bank and trust company was organized Saturday with a capital stock of $50,000. This bank will succeed to the business of the defunct People's national bank, buying or leasing the old bank building and considerable paper now held by Receiver Fish of the old concern. Former Governor Carroll S. Page of Hyde Park was the moving spirit in the organization of the new bank, and is one of the directors, together with Dr. C. E. Allen and M. W. Barney of Swanton, and E. D. Herrick of Highgate.

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New Bank Organized at Swanton.

A new bank has been organized at Swanton under the name of the Swanton Savings Bank and Trust company with a capital of $50,000. Monday afternoon the following officers were elected: President, Dr. C. E. Allen; vice-president, M. W. Barney. Mr. Barney will act as treasurer until some one is found for the place. The directors are: Ex-Gov. C. S. Page of Hyde Park, Dr. C. E. Allen and M. W. Barney of Swanton, Ed Herrick of Highgate and H. W. Marvin of Alburgh.

Dr. Allen is a leading physician and business man. Mr. Barney is superintendent of the Barney Marble company, one of Swanton's largest enterprises.

Mr. Herrick is a successful merchant of Highgate. Mr. Marvin is a prosperous business man in Alburg and is at present postmaster. There is a general satisfaction over the re-organization of the bank and confidence in the men behind the new institution. It is expected that the new bank will purchase a part of the paper held by the defunct People's National bank which went into the hands of a receiver August 19.

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Aggregate Official Vete.

Taking the candidates in the order they appeared on the official ballot, to wit: Bell, Republican; Porter, Democratic; Comings, Prohibition; Morse, socialist, the filth figures being the scattering vote, the official aggregate vote in the late election by counties was as follows: Addison, 4,047; 582; 110; 16. Bennington, 2864; 1,317; 53; 24. Caledonia, 3.622; 1,010; 80; 21. Chittenden, 4153; 2,670, 108; 57; 1. Essex, 844; 337; 11; 5. Franklin, 3,708; 1.659; 141; 20. Grand Isle, 503; 240; 10; 2. Lamoille, 2,054; 480; 92; 5. Orange, 2,945; 936; 99; 19; 1. Orleans, 3,458; 513; 59; 7. Rutland, 6,105; 2.290; 91; 199. Washington, 4,507; 2,072; 192; 123; 3. Windham, 3,937; 1,279; 66; 152; 1. Windsor, 5,279; 1,147; 61; 118: 1. Total, Bell 48,026; Porter, 16,532; Comings, 1,173; Morse, 759; scattering, 7.

The foregoing are complete, with the single exception of Jay, in Orleans county. Jay's vote in 1902 was McCullough, 64; Clement, 34; McGettrick 4. Jay has apparently disappeared from the map of Vermont. Several letters have been sent from the office of the secretary of state to that town, but no response has been received.

New Bank at Swanton.

A new bank has been organized at Swanton under the name of the Swanton Savings Bank and Trust company with a capital of $50,000. The following officers have been elected: President, Dr. C. E. Allen; vice-president, M. W. Barney. Mr. Barney will act as treasurer until someone is found for the place. The directors are: Ex-Gov. C. S. Page of Hyde Park, Dr. C. E. Allen and M. W. Barney of Swanton, Ed Herrick of Highgate and H. W. Marvin of Alburgh. There is general satisfaction over the reorganization of the bank and confidence in the men behind the new institution. It is expected that the new bank will purchase a part of the paper held by the defunct People's National bank which went into the hands of a receiver August 19. The old bank building will be leased or purchased.

Centennial of Northfield Church.

The Methodist Episcopal church of Northfield now has its arrangements well under way for the celebration of its centennial Oct. 9 to 16. It is settled that Thursday, Oct. 13, is to be centennial day and it will also include a reunion of former pastors. The former pastors now living are, Isaac McAnn, A. L. Cooper, Joshua Gill, W. D. Malcolm, O. M. Boutwell, Horace W. Worthen, Peter Merrill, J. O. Sherburn, A. H. Webb, Joseph Hamilton, Sylvester Donaldson, L. P. Tucker, S C. Johnson, A. W. C. Anderson, E. W. Sharp.

Vermont Electricians.

There was a good attendance at the third annual meeting of the Vermont Electric Association at Montpelier, last week. These officers were elected: President, Edward D. Blackwell Brandon, vice-presidents, E. E. Gage, St. Johnsbury, and G. S. Haley, Rutland; secretary and treasurer, C. C. Wells, Middlebury; executive committee, E. D. Blackwell, Brandon; E. E Larabee, Bennington; Frank Barney, Springfield; A. H. Bailey, Wells River, and E. P. Coleman, Montpelier. Some of the most noted electricians of New England were present and excellent papers were presented. The association contains a membership of 17 electric companies. Thursday a trip was taken to the Bolton Falls station of the Consolidated Lighting Co.

The jury in Rutland county court last week brought in a verdict of $6 708 83 for the plaintiff in the case of Eugene J Kelly, frieght conductor, vs Rutland Railroad Co. Kelly lost a leg at Dorset several months ago, by the breaking of the ladder on the end of a car.

These Vermonters were made thirty-third degree Masons at the recent meeting of the supreme council, Ancient Accepted Scottish Rite, in Boston: George F. Flanders, of White River Junction, Walter E. Ranger, of Montpelier, Olin W. Daley, of White River Junction. The latter is grand master of the grand lodge of Vermont, Free and Accepted Masons. Marsh O. Perkins, of Windsor is a member of the committee charged with preparing a revision of the constitution and by laws.

Harry Townsend had his eyes put out and Bert Wiggins his left hand blown off by a premature explosion last week Tuesday while they were blasting rocks near East Orange. They were alone, a mile from any house, but in spite of their terrible injuries they managed to hitch up their horse and drive over a mile to a doctor's house, suffering awful agony for three hours.

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An item in yesterday's Times stated that a 40 per cent dividend will soon be declared by the receiver of the "Peoples' National Bank," but failed to state that the bank in question was at Swanton. This explanation is made that no one may be misled into believing that it is the "Peoples National Bank" of this city, which is in a very healthy condition.

Three basket ball teams have been formed in the Montpelier Y. M. C. A. to play a series of twelve games for a silver trophy to be given by the association. The teams are called the Reds, the Whites and the Blues, and their captains are Floyd Hayford, R. J. Fitzgerald and James McDonald. The first game comes next Wednesday between the Blues and the Reds.

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BANK TREASURER MADE FALSE ENTRY WAS BROUGHT BEFORE UNITED STATES COMMISSIONER AND FURNISHED BAIL. BURLINGTON, Vermont, Sept. 16. -A. J. Ferris, former treasurer of the People's Bank of Swarton, an institution now defunct, was brought before United States Commissioner Johnson in this city yesterday charged with embezzling the funds of that institution. The prisoner waived examination and ball was fixed at $2,000, which he furnished. The offense with which Ferris is charged, it is alleged was committed September 20, 1902, when, it is claimed, he made and caused to be made false entries on the individual ledger of the bank amounting to $610.88. For the past year the People's National Bank of Swanton has been in the hands of F. L. Fish, National Bank Examiner, as receiver.