Article Text
BANK Causes Fifth Closing In Indiana Within 24 Hours After First Collapse. Cashier Of Hope Institution Held For Federal ment Is Confessed ENQUIRER February Savings Trust operating closed was closed money bank Bank Montpeller, near the closed due, said. to yesterday The has deposits estimated Guy Bracken. President of the the bank closed protect depositors and the solvent. Luther Symon State Bank ComState Banking Department are in Wells County records Wells going County Bank, of three other banks the county closed action of Wells County Bank. through business Other banks the county that are closed State Bank Petroleum. the Bank the Center State Bank. Are Sought. the Court ceivers appointed for the Wells County and of Uniondale Both petitions set out that Banking Department these banks institutions failing and insolvent condition. the banking situation the county largely the result the closing of the Studebaker deposits That and far Ind., Herman old. Cashier of Ind., which closed this was arrested this afternoon Federal charging issued by Howard United States Commissioner, request Bert Patterson, National Bank according Young had admitted resulting shortage Bank Building was before he preliminary and held by Joseph Spaugh, Hope, his and former President of the Arranged Surrender. Details which alleged plished embezzlement not disclosed. not was understood. but United said Stewart him that has money. which to make Luther State Bank Comstatement which the stability the the should not the closing of banks the Banking banking has been agithe failure the Bank two Unfounded rupersistently culated undermined that my that not closed banks come out difficulty with the by the in
