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FIRST BANK CLOSED Oldest National Bank in Lawrence County Closed by Order of Directors Saturday Evening. The First National Bank of Lawrenclosed order of the ceville was by board of directors Saturday evening and Neid appointed receiver the currency to by the comptroller affairs of the institution. wind the As usual, up the crash caught hundreds For about people unprepared. have been in circulation year rumors bank was in dire distress. that the The illness of the president, Keller, had disquieting effect on depositors and the cash reserve many running near the danger point. Rather than have the bank closed by the held federal Saturday evening and volmeeting asked that be untarily Neid was placed pointed. and is opening set charge in order up the affairs books much as possible for the and save as depositors. conversation with Mr. Neid he said it would be several weeks before statement could be made for publication. The last statement published by the bank was at close of business 30, 1932. Deposits at that time June bills payable and rediscounts, circulating notes checks outstanding, $57,376.09; and which undivided profits, capital stock of $100,000 with the made the total liabilities Mr Neid, receiver, recently closed the affairs of the bank up Noble last summer spent some time at Benton. While necessary to liquidate rapidly as possible, understood will lenient with he debtors insofar possible. This financial institution has had and honorable record. Started long bank 1888 by W. private McCleave and W. Barnes, its sucfrom the start was Mr. McCleave was the cashier later assisted by W. Titus. and was In 1897 Keller became associated with the bank as cashier and later acquired control of few years of the stock and was made majority national bank, the first one in Lawcounty. Mr. Keller was first and only president. The capital that time was and the at dends paid stockholders were very tractive. The capital was later creased to and the Keller and Conger families retained majority of the stock Following the resignation of W. Titus as cashier few Miss Edna Thorn years ago, elected cashier, Mr. Keller remaining The directors H. Keller, Edna E. Thorn Keller, John Mieure. Last March, Mr. Keller, through was compelled to from ness, tive business pursuits and has been unable to leave his home since that time, although keeping watchful business of the bank. His on the physical condition was doubtless gravated by business worries and day he is mere shadow of his former Last winter he celebrated his self. fiftieth anniversary in the banking business without blot on his record. and he has the satisfaction of knowtoday that was through no fault ing that the institution which own served SO long and faithfully was forced to close its doors. Many men in his condition would have permitted the business to along until the bank examiners stepped but true his principles of right and wrong take the blow himself rather than leave for someone else At this time there is little probability that the bank reopen, at least under its present be worked out later. Some plan may closing of the First National The in effected the other way banks in the county. The Farmers State Bank opened its doors as usual Monday and the report of the officials is that more money was received on deposit that day than was checked people are taking the blow on the chin and going about their usual. The other banks of the county report their cash reserves in good shape and say they are able to pay their depositors full upon demand. However, certain restrictions are still in effect regards savings and dormant checking acounts.