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OHIO BANK TO REOPEN. Medina, Ohio, January 9-(AP)Reorganization of the Seville State Bank at Seville, Ohio. was completed today. and it was announced the bank will reopen Monday with $25,000,000 capital and $5,000 surplus. The bank suspended October 28,
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NORTHSIDE MAN EXPIRES. Trank E. Pennell Funeral To Be Conducted Tuesday. Frank E. Pennell, 68 years old. died yesterday morning at his home, 4226 Williamson Place, Northside, following lingering illness. Mr. Pennell was formerly chief engineer of the United States Shoe Company, but had to discontinue work 19 months ago due to failing health. Surviving him are his widow, Mrs. Margaret Keating Pennell, three daughters, Mrs. Carl Hewling, Fort Thomas, Mrs. D. J. Malone and Jane Pennell, and one son, Edward PenFuneral services will be conducted from the residence Tuesday afternoon at 2 o'clock. Burial will be in Calvary Cemetery, with Rev. Herbert Frazier officiating. OHIO BANK TO REOPEN. Medina, Ohio, January 9-(AP)Reorganization of the Seville State Bank at Seville, Ohio, was completed today, and it was announced the bank will reopen Monday with $25,000,000 capital and $5,000 surplus. The bank suspended October 28,
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STATE EFFECTS OF CLOSED BANKS Reorganization Plans of Department Help Restore Sound Conditions. AID TO BUSINESS SEEN Ten Ohio Banks Resume Since Jan. Six Others To Follow Soon. Special state scheduled be reopened for within few under plans state department banks Fulton superintendent Ohio, announced Under the department which closed their doors in 1931, result of panicky the public which heavy many financial resumed business since the first the present year The banks planned to be opened soon the Union Savings Bank Trust Co., the Union Savings Trust Co. Warren: Ohio Merchants Trust the Dime Savings Bank Canton: Washington Savings bank, Washington the Farmers bank. Elida Other Reopenings Probable Negotiations are also in progress for reopening several other closed banks. More definite information regarding reopening plans probably be ready for in the new year The state department of banks aiding the committees working on the reopening projects in the varthe of additional Ohio banks in the future many millions of dollars which have been will be turned back into the arteries trade and ton. thus releasing large amounts which temporarily impounded by the closing of banks, the working ital each community directly fected be greatly with resultant strengthening financial situation generally benefits derived do not stop at the boundaries of the extend to other areas, in fact, come statewide in their wholesome Reports Great Improvement According are vastly what they The present year opened with year decrease bank and number such during the past few months has been surprisingly more than might expected normally Since the state department banks taken but five banks for with the ception moderate bank, very institutions, the closing which caused hardly the life of the Banking conditions generally stablized in Ohio other states. Among the banks reopened this Dollar Savings Trust and the City Trust Savings both George Harter Bank, Canton: the Trust Co. and the Savings Trust Co., both Mansfield, and the City Savings Bank Trust Alliance. Other cluded Seville State bank, the Farmers' Banking Co., the bank, and the Bank of Leipsic. Theodore H. Tangeman, director of and member of Gov. ernor White's cabinet. has masisted Fulton in working out the bank reopening which the state put into effect, student of finance, has been position to render effective aid in state's bank work. Charles Saf fin, Jr., in the of has been factor in of the bank reopenworked out by the department.
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'OFFICER 666' HARRY DOTSON To The News ASHLAND, Nov. 4-Harry Dotson and Miss June Hale of Mansfield have prominent parts in the farce, "Officer 666", which will be presented in McDowell auditorium here Saturday at 8 p.m. as the climax of the college's homecoming day program. Dotson is cast in the title role. ilized now both in Ohio and in other states. Many Already Reopened Among the banks reopened this year are several of unusual size, such as the Dollar Savings & Trust Co. and the City Trust & Savings bank, both of Youngstown; the George D. Harter bank, Canton; the Richland Trust Co. and the Farmers' Savings & Trust Co., both of Mansfield, and the City Savings Bank & Trust Co., Alliance. Other important institutions reopened included the Seville State bank, Seville; the Farmers' & Citizens' Banking Co., Monroeville; the Antwerp Exchange bank, Antwerp, and the Bank of Leipsic Co., Leipsic. Theodore H. Tangeman, state director of and member of Governor White's cabinet, has assisted Superintendent Fulton in working out the bank reopening plans which the state department has put into effect. A student of finance, he has been in position to render effective aid in the state's bank reorganization work. Charles G. Saffin Jr., attorneyexaminer in the department of banks, has been factor in all of the bank reopenings worked out by the department.
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Ohio Banking Situation Now Almost Normal State Official Sees Improvement in Financial Circles COLUMBUS. Jan. improvement has brot the Ohio banking situation back almost to normaley as the state enters 1933. State Banking Superintendent Ira Fulton said in review of 1932. "There has been marked decrease in the number of bank suspensions, and the number of bank closings in Ohio for many months has hardly exceeded what might be expected in normal times," Fulton said. dividends approximating $15,000,000 were paid to depositors in the course of 1932 liquidations, the banking chief stated in proof of his assertion. "Going" banks distributed $8,000,000 from purchased assets of closed banks to creditor depositors of the latter, he added. As part of general improvement in Ohio," total of 14 banks were reopened in 1932 after they were closed in 1931. Two other such banks will be reopened within few days. Banks reopened included those located in Seville, Mansfield, Youngstown, Monroeville, Alliance, Canton, Antwerp, Leipsic, Warren and Massillon.