Manufacturers National Bank (Mechanicville, NY)

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MECHANICVILLE BANK RECEIVER APPOINTED

MECHANICVILLE N. Aug 11 AP -Pardon Rickey of Washington. was named today for the Manufactures National bank, which by vote of its directors did not open yesterday after a run Saturday Mr Rickey also is for the First National bank of Meany hile business and city officials were to determine what can be done about the city's virtually bankless plight Last night they asked Troy bank to estabHsh branch their city but were informed such action would be contrary to the banking

CZECHS ACT TO MAINTAIN PRICES Bureau the BUFFALO EVENING NEWS fort to declining prices and out an end to excessive competition. enterprises operating 31 porcelain and employing ap13,000 recently entered into general sales agreement to regulate prices, according the Commerce department

N. Y. BANK STOCKS

Securities by Auction A. J. WRIGHT & 00. New York Stock Exchange AUCTION DEPARTMENT offices ERIE COUNTY BANK BUILDING

FOR ACCOUNT WHOM IT MAY CONCERN

NEW YORK Aug. 11 Over the New York nabanks and trust follow NATIONAL BANKS Bid Asked 62% Phenix 230 First National TRUST COMPANIES Corn Exchange Empire 123 New York Trust 138 GASOLINE RAISED TO CENTS OKLAHOMA CITY. Okla Aug 11 U. Continental Oil company yesterday posted wholesale price of four cents gallon for motor gasoline, fractional advance.

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Two Closed Banks To Pay Dividends; Directors Elected

Stockholders of Vicinity Institutions Name Officials

FUNDS AWAITED

Receivers of Granville and Mechanicville Depositories Announce Payments

Receivers of the closed Farmers' National Bank of Granville and the Manufacturer's National Bank of Mechanicville announced they were again to pay dividends on claims filed by depositors yesterday as stockholders of operating banks throughout this section of the state met to elect directors for the ensuing year. In most cases the directors met immediately and elected officers.

Claimant depositors of the Granville bank will receive within the next few days about $195,000 in dividends from the federal receiver, H. N. E. Gleason, the dividend representing eighteen percent of the savings on deposit when the bank closed January 7, 1932. Distribution started yesterday afternoon.

Dividends totaling 55 1/2 percent of the savings in the bank when it closed will have been paid out when the current dividend, the third paid, is distributed. The first dividend of twenty-five percent was paid in October, 1932, and the second of 12 1/2 percent in December, 1933. The bank was obliged to close its doors following a heavy run of depositors.

The Mechanicville bank dividend is for seven percent on the claims filed by depositors and is the fourth to be paid by the receiver, Pardon C. Rickey, bringing the total distribution to depositors up to seventy-four percent in less than four years after the closing of the bank.

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Receivers of the closed Farmers' National Bank of Granville and the Manufacturer's National Bank of Mechanicville announced they were again to pay dividends on claims filed by depositors yesterday as stockholders of operating banks throughout this section of the state met to elect directors for the ensuing year. In most cases the directors met immediately and elected officers.