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which lasted until 2 o'clock in the morn- ing and very soon afterward the petition for a receiver was filed by John S. Git- tings & Co., bankers, who alleged that they had on deposit the sum of $506.74. The answer of the company was filed at the same time and the receiver appoint- ed immediately. The latter has a large part of its money tied up in the New Belvidere Ho- tel here, which is now nearing comple- tion, but whose bonds are not yet mar- ketable. The company also had out loans aggregating $500,000 which it could not call in and it was soon seen that with the continued withdrawal on the part of depositors the company could only meet them by disposing of its secu- rities at ruinous prices and to avoid this the receivership proceedings were resort- ed to.