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BOWERSVILLE BANK CLOSES Institution is Taken Over By State Department For Liquidation Because of to procure license from the State Banking Department to restore normal banking functions and operate on an unrestricted basis" the Bowersville Bank, at Bowersville, which has been operating under conservatorship since April has been turned over to the State Banking Department for liquidation. Wilson Miller, Greenfield, con servator for the bank said frozen sets were responsible for the failure of the bank to obtain license from the state department. The bank, state institution, was capitalized for $25,000. At the time the bank closed had deposits amounting to approximately $75,000, including $70,000 in old deposits which were not available to depositors after the President's banking holiday in March, and $5,000 deposits, received under the conservatorship. D. Schurr, Special Deputy Banking Superintendent, scheduled to take charge of the property and assets on behalf of the State Department. A liquidating agent has not been appointed. Conservator Miller said his decision to discontinue the bank's operation met with the approval of the Board of Directors. The Bowersville Bank organized in the fall of 1895 and opened its doors November of that year. Bowermeister, president of the bank, who was originally the vice-president when the institution was organized 38 years ago, is the owner of the building in which the bank is located. Other officers are: Lewis, vice-president; H. Fisher, cashier, and John G. Hite. assistant cashier. The directors are: Bowermeister, Lewis, Fisher, K. M. Johnston, Alonzo Johnson, W. L. Ger. ard and Dr. C. E. Ream. The bank started in 1895 with capital stock of $20,000, only 20 per cent. of which was paid but the entire capital stock was later paid into the bank. Subsequently enjoyed steady growth.