Lancaster Trust Company (Lancaster, PA)

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BEGIN TODAY TO REORGANIZE LANC. TRUST

Business And Banking Leaders In All-Night Session Decide To Act

TO PUT IN MILLION

Outstanding business and banking leaders of the city after remaining in session from p. m. on Monday until m. this Tuesday morning worked out plan by which the reorganization the Lancaster Trust Company. 36 North Queen street, (first block) hard hit by seepage of deposits for three months and slight run yesterday. will be effected within day or two it is hoped. The business and banking leaders who worked the plan of reorganization after an all night session are follows: John Evans, Henning W. Prentis, Col. Hale Steinman, John E. Malone, Charles G. Baker. John Coyle, S. T. Roberts Appel, F. Lyman Windolph. Carl Widmyer. Herbert W. Joseph Breneman, Dr. John L. Atlee, Charles B. Long, B. Hull. William Neuhauser, John C. Carter, K. Hostetter, Robert C. Zecher.

John L. Ruth, Penrose H. Ruhl, Ira H. Bare and Suter The need for the reorganization of the Lancaster Trust Company became apparent after run on the bank Monday during which time the bank served notice its depositors that the sixty day against savings deposits positors allowed to draw out $100 and certificate of deposit holders were advised that they could collect their certificates only when they The result of this order aided by the rumors which had since the Agricultural Trust Company closed added to confusion the officers Lancaster Trust Company felt that would useless to open the this morning as there was sure run would the of the and make its future The plan the reorganization that will under today calls the raising of new capital and the reorganization of the officers and Board of Directors include of the city's wealthiest men. At the last night approxi$200,000 was includthe Armstrong Cork ing of was freely predicted that before the day over that million and one-half dollars will be million subscribed add large sets of Trust Company. This will Trust Company to reopen with ample on hand meet contingency that may arise either immediately or in the future The last statement of the Lancaster Trust company, as on January follows:

Resources Cash on hand and banks collateral loans Bonds other Mortgages and Office building vaults, Other real estate Other assets and Customers' liability on letters of credit. etc. $60. Total resources Liabilities Capital $280,030.00; 777.76: Due to payable and acceptances executed letters credit issued, etc. Total liabilities $14,496,474.29.

Trust Funds Personal funds and trust funds corporate The officers of the bank are: the John President H. Board: John Fred Hartman, Homsher Vice President and Trust Officer: Ira Treasurer: Witmer. Assistant Treasurer: W. Alexander. Assistant Treasurer: Frank Summy Assistant Treasure: Assistant Trust OfH. Estate Officer: ficer: Ralph directors John The H. Ruth Ralph Hull, Fred Homsher, Charles Long.

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FOR $3,500,000

Depositors Will Be Asked To Subscribe To Stock In Company

WILL RAISE $3,500,000

A plan for the reorganization of the Lancaster Trust company was approved at a meeting of prominent business men and bankers in the Griest building Tuesday after- noon.

The plan calls for the cooperation of depositors in the Lancaster Trust company and the citizens group. The depositors will be asked to subscribe to stock in the reorganized company, to the extent of 25 per cent of their deposits in the old company, by which the organizers of the new institution hope to raise $2,000,000.

The citizens group is expected to raise $1,500,000, providing for total of $3,500,000 capital, which will be used to protect the depositors of the bank. New Board Approved

A board of directors. includIng the leading business of the city, was approved the meeting. The new board includes: S. R. Slaymaker, chairman Frank c. Beckwith Elmer J. Eshelman

John Evans

Garvin H. W. Prentis, jr.

Rote

James Shand

Jack Straub J. Hale Steinman

George Weber

In addition, committee to efthe organization of the trust company approved the meeting, follows: George Weber, William Shand, Charles Baker Slaymaker, Hull, Eshlemen. Rote, Prentis, John Evans, Groff, Hale Harry WohlSteinman, sen, Mayor Warren Metzger, Engle, and Beckwith. The plan reorganization was prepared meeting of the special committee. which made the recommendations later approved by large meeting in the afternoon. members of the new board and the committee which effect organization, were nominated at the special meeting. Malone Presides. The session was called Col. John Malone, attorthis city, presided. In opening the meeting. Mr. lone stated that the situation which developed at the Lancaster Trust company, was largely the result undue among the people of He declared that measdesigned resuscitate the bank vitally necessary for the community and that the was in reality enterprise. the plan the meetMr. Malone indicated that safely secure, with an ample capital, the the Lancaster company, will taken and by the company and will afford sufficient capital to meet the new company's Mr. Prentis declared that the Tuesday, developed out suggestions during sessions night which by bankers and business Purposes Explained The presentation the plan met favor among the men attending the meeting William Neuhauser pointed out that by offering stock the company depositors of the Lancaster Trust company, there would be no incentive draw deposits and the depositors, which started slight Monday afternoon, allayed He declared that the plan the new company. would possible the holding credit for the of patrons the was piece of highly business. Mr. Weber declared that the new company would have in assets, against posits of approximately $8,000,000. In his approval the Mr. will chairman the new board of directors, was accorded warm applause the business men and bankers the meeting. John Ruth. president of the Lancaster Trust company. presented statement the assets and lia. bilities of the bank and statement the assets and liabilities the new company showing the proposed capital structure The Lancaster Trust Company taken over Tuesday morning by the State Banking Department aminers appraisers immediately took control.

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Committee's Statement

The following statement was issued by the citizens' committee Tuesday formulating plans for the reorganization of the Lancaster Trust Company:

A meeting was held by the appointed to formulate plan for the Trust Company, at the call Colonel Hale Steinman, who presided. The following were present: George Weber, Prentis. Jr., William Shand. Evans, Charles Baker, Zimmerman, Slaymaker, Beckwith, John Ruth Groff Charles Widmyer, Harry Hull Warren Metzger, Elmer Steinman, Rote, Engle. After discussion of the subject constituted by the meeting. was decided to offer for the consideration larger group persons called to convene 3:30 o'clock Tuesday afternoon, the following new Trust Company be organized, may decided upon, capital $3,500,000. obtained follows: of the Lancaster Trust Company subscribe the stock extent 25 per cent their respective deposits and pay for their out their said deposits: estimated this will between $2,000,000 from $1,000,000 $1,500,000 will be raised public subscription. The present stockholders of the Lancaster Trust Company will be given an opportunity This plan will safely secure an ample capital all of the deposits the Trust Company which taken and guaranteed by the company will afford sufficient free capital to meet the new company's requirements.

The of the Lancaster Trust Company to be taken over by the organization are stated as follows:

THE LANCASTER TRUST COMPANY Statement of Resources Liabilities January RESOURCES Cash and Cash Items from Stocks and Bonds Commercial and Collateral Loans 9,473,289.03 Protest Accounts Mortgages and Judgments Office Building Furniture Fixtures 52,135.64 Vaults 24,313.25 Other Real Estate Union Trust Co. Liquidating Acct 253,010.92 Miscellaneous Customers Liabilities, etc. 58,298.23 Totals $13,732,460.93 LIABILITIES Capital 280,030.00 Surplus Undivided Profits 172,928.34 Reserve for Depreciation Other Reserves Dividends Unpaid 192.00 Checking Accounts Certified Checks Treasurer's Checks Expense Checks Outstanding 46.00 Savings 3,111,961.13 and Vacation Due Banks Bills Payable Acceptances Executed, etc. Totals $13,732,460.93

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EDITORIAL

THE SPIRIT OF LANCASTER

ANCASTER showed its real community spirit on Tuesday when its business men, manufacturers and bankers gathered and with one accord decided to reorganize the Lancaster Trust Company. The most of these men, who are active in the movement to reorganize, neither have money on deposit there nor have they in any way been connected with the bank's affairs. But they are giving their time, effort and money to reorganize the bank SO that no depositor shall lose a cent nor that any business concern shall be pushed to the wall by a sudden demand that loans be paid.

Plainly this group in the reorganization movement are setting about with a community spirit as their aim to bring back to life a financial institution, the liquidation of which might cause misery in many ways and set the city back for a generation or two. Indeed this newspaper has never seen a finer spirit shown by any large than was shown Tuesday at group the reorganization when men pledged thousands; offered their time, to which they themselves by long years of hard work are entitled, to the end that no man or woman in Lancaster City or County might suffer financial loss or mental suffering. It is just such conditions as the business group faced yesterday and seemingly have solved that makes one proud of Lancaster; proud of her business men and proud to be associated with a group that seeks, in times of stress, to make life easier for those in any kind of distress.

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Prominent Citizens Laud Plan For Reorganization

General approval of the plan to reorganize the Lancaster Trust Company was the meeting building Statemade by the following men, who expressed their confidence that the movement succeed:

SLAYMAKER: The plan must go forward. If the bank were not to reopen, the city would not recover many years. am prepared to do can to M. GARVIN: wish to express movement and am confident of success.

JAMES SHAND: feel that this plan should adopted. ELMER ESHLEMAN: desire express my complete approval of the plan. H. HAGER: hope that the plan will be very MAYOR METZGER am pleased with this cross-section representing every phase of business and financial ac- tivity in the community. pledge you Mayor, and the city will do everything possible to the plan FRED PYFER: think that Lancaster will over the that will show same spirit this did during the war days COCHRAN: heartily favor of the movement. believe that has the ability and the funds to make the plan suc-

FRANK SNAVELY: We cannot look other end the only one and that ahead with the plan, confident HARRY am in favor this have faith in the people and prepared to do my share in helping the GEORGE R. WEBER am going night and day to make this CHRIST am prepared can making the the trust company. DR. FRANK HARTMAN: cansee any plan must put into execution and believe we can do CHESTER am in favor this plan and will help where MILTON H. RANCK: We have met before again. We must courage and G. WILLIAM BIRRELL: The new the add my it. We must renew the confidence Lancaster, and believe that this can accomplished through the new believe that the money make possible can be secured in this community. W. HENSEL BROWN: is duty 100 per for the plan and I'll support CARL ADAMS: see the plan being in the of Lancaster.

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SAMUELSLAYMAKER NAMED PRESIDENT TRUST COMPANY

Prominent Business Men Elected Directors Of Reorganized Institution

Slaymaker, local capitalist, elected president of the reorganized Trust company at the session held Tuesday Mr. Slaymaker president of the Grand View Heights Development project at RossOther members of the new board directors FRANK BECKWITH president of the Hamilton Watch ELMER ESHELMAN, vice president the and company, feed manufacturers of this JOHN EVANS, president of the Armstrong Cork company. GARVIN, head of the department W. PRENTIS, president the Armstrong Cork company. ROTE, president the B. and company, iron construction firm

JAMES SHAND. prominent merchant of Watt and Shand, Inc., Lancaster. JACK L. STRAUB. official of the Bearings Company America. publisher, Lancaster Newspapers, Inc. GEORGE R. WEBER. jeweler, of Appel Weber, Lancaster

Business, Manufacturing, Commercial, Banking Interests Of City Will Raise Million And Half Of New Capital

The re-organization of the Lancaster Trust Company is under way.

The re-organization plans were completed late Tuesday at a largely attended meeting of the business, manufacturing, commercial and banking interests.

To Raise $1,500,000

These business, commercial, manufacturing and banking interests plan to provide new capital to the amount of $1,500,000.

The depositors will be asked to take twenty-five per cent of their deposits in new capital stock. When this is done, the assets of the bank will be approximately $15,000,000 as against total deposits of $8.000,000.

The re-organization will be rushed to completion and the Lancaster Trust Company ought to be open and functioning in thirty days.

S. R. Slaymaker President

S. R. Slaymaker will be President of the re-organized Lancaster Trust company and he will have the following board of directors to assist him:-

F. C. Beckwith,

Elmer J. Eshleman, John J. Evans, M. T. Garvin, H. W. Prentis, jr. A. B. Rote, James Shand, Jack Straub, J. Hale Steinman and George R. Weber.

The plan of re-organization will proceed along this line. The new board of directors will apply for charter for a new company. This new company will buy (take over) the assets of the bank and assume the liabilities to depositors.

Then the Lancaster Trust will re-open for business as if nothing had happened. The will get their depositors money when and if they want it; the commercial and business interests will be served with banking accommodations and there will be no pressure on the banking services of the community.

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LOCAL LEADERS MEET WITH STATE BANKERS

(Continued from One)

Armstrong Cork company M. Garvin. head of the M. store. H. W. Prentis, Jr., vice-president of the Armstrong Cork comB. Rote, president of the B. Rote and company, iron construction James Shand, of Watt and Shand, Inc. Jack Straub, of the Bearings Company America. Colonel James Hale Steinman, newspaper publisher. George R. vice-president of the tan, and general manager of the divislon the Inc., Manhelm When the re-financing is completed the new Board Directors will apply charter and the new bank buy or take over the assets of the old Lancaster Trust company and as. sume the liabilities to depositors. When these details completed the bank will be able to function as usual.

The to aid in the reorganization is George Weber, chairman. William Shand. Charles John Ruth. Charles Widmyer. Ralph Elmer Eshelman. B. Rote. Prentis. Jr. John Evans. Zimmerman. Groff Colonel James Hale Steinman. Harry Wohlsen Mayor Warren Metzger. for reorganization outlined at called Colonel Steinman yesterday morning These plans late in the day at meeting to which leaders in all phases civic life were invited. John E. Malone, attorney. will Safeguard Deposits of representing every phase of business and financial tivity in the pledge you that and the city will do everything possible to make the plan success FRED PYFER: think that Lancaster will 'go the top:' that the same spirit this during the war days. H. COCHRAN: heartily the movement believe that has the ability and the funds to make the plan success FRANK SNAVELY: We cannot look other end of the picture There only one alternative and ahead with the plan, success. HARRY WOHLSEN: am in this movement have faith in of Lancaster. and prepared to do my share in helping the GEORGE R. WEBER: am going to work night and day to make this reorganization success. CHRIST I am prepared help that making the reorganization of the company. DR. FRANK G. HARTMAN: cannot see any other course The plan must be put into execution and believe can CHESTER WOOLWORTH: am in favor of this plan will help MILTON RANCK: We have met crises before this city and can do again. We must have courage and faith G. WILLIAM BIRRELL: The new company alternative and to renew the confidence in Lancaster. and believe that can be accomplished through the new organization believe that the money to make possible can be secured in this community HENSEL BROWN: our duty plan. We renew our confidence. am 100 per cent for the plan and I'll support CARL ADAMS: see the plan as being in the best interests of Lan-

Mr. Malone explained the situation which developed the Lancaster Trust Company because of the undue nervousness depositors. He declared designed the bank are for the and that the reorganization plan is a community enterprise. In explaining the plan Mr. Malone said: will safely secure, ample capital, of the deposits now the Lancaster Trust company, which will be taken over and guaranteed by the new company and will afford sufficient free capital to meet the company's Mr. that the reorganization plan was based upon suggestions at meetings held since the run the Savings department the bank made necessary to close the institution. William Neuhauser, president of the Farmers' Trust company. the offering of stock the new company to depositors allay the fears of everybody. He commended the plan as highly business Mr. Weber and Mr. Slaymaker both pointed out that the reorganized institution would have strong financial backing John Ruth, president of Lancaster Trust company presented statement of the bank's and liabilities. those invited the ing yesterday Fred Pyfer LeRoy Nolt, Roy Eshleman, Howard Eshleman B. Frank Snavely, John H, Herr, John Wickersham, R. Hull, Charles Long, W. Hensel Brown, B. Sweeton, Matthew H. Earle DeHaven, W. Baker. G. Hartman Austin McCollough, Carter, Scott Leinbach Graybill Diehm M. H. Ranck, Harrison Nolt, Robert Todd, Samuel Fraim, Walter Fraim Roy Stauffer, Alfred Snavely, Kurtz Zook, G. Engle, Joseph Forney Dr. Frank Kready, George Mann, Ben Mann. Ralph Darmstaetter Mayor Warren Metzger. C. Beckwith Calvin Kendig, Samuel Slaymaker James Shand, George Weber, William H. Hager, M. Garvin, George Hoffman Grant Barr. Frank Zecher Stew. H. John Barry, Jack Straub, Harry Wohlsen, B Chester Harold Adams, Harry Cochran, H. Pier son, Hiestand, Henry S. Hiestand and George Hensel The Trust company was organized 1889 and was one the first institutions of its kind the city bank rapadded Department, Vacation Savings estate department First Bank Directors Since the founding of the institution the bank never missed paying dividend and dividends were frequent There were several splitups of stock and the last time the par was placed $10 The rose but with the general decline in the securities The bank was established by group men consisting of Judge Hay William Uhler John D. Skiles, Hartman, Lewis S. Hartman Myers. Sam uel Groff, Graybill Baumgardner, Gust Zook and John Keller. The first Board of Directors consisted of Judge Brown, Mr. Hartman, Mr Mr. Baumgardner, Mr. Zook and Mr. Keller Mr. Hartman was named the first and he died on December 1899 He was succeeded John Hertzler who was succeeded two years ago by John The bank has had five treasurers, Pierce Lesher, Mr HertzJoseph T. Breneman, Herbert Miller Ira K. Herr. The bank started in its present on property by the King Yellow Front Cigar store was several times. In 1905 there was slight run on the bank but money flooded into the and the demands from nervous depositors ceased. 1927 the absorbed the assets and liabilities of the Union Trust company Reorganization Lauded leaders expressed their about the plans as R. The plan must go forward. bank were not to city would not recover in years am prepared to help. GARVIN: wish to express sympathetic attitude the movement and am confident of its success. JAMES SHAND: feel that this plan should adopted. ELMER ESHELMAN: desire to express my complete approval of the WILLIAM H. HAGER: hope that the plan will very successful. MAYOR WARREN METZGER: am pleased with this cross-section

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Endorsed by the Banks

Formal endorsement by the Clearing House Association of the plan to reopen the Lancaster Trust Company follows naturally the assistance the Lancaster banks have been giving the Reorganization committee since the reopening campaign was launched; and if the announcement today can be taken to mean the other Lancaster banks, all of which are members of the Clearing House, have decided upon ways and means to lend further substantial assistance to the movement the work of reorganization will, indeed, have been made easier.

Bankers, above all others, are in position to appreciate the several very vital facts in the Lancaster Trust Co. situation.

They understand that if the bank is not reopened the situation will cast a blight upon the community from which it will not recover for years; They understand that credit resources supplied by the Lancaster Trust should not be lost to Lancaster; They appreciate, also, that investment in stock of the proposed new bank is one of the finest investments offered in Lancaster. Banks, business houses and individuals must be brought to realize that in helping to reopen the Lancaster Trust Company they are helping perform great public service-and also that they helping themselves as much as anyone else.

The burden is upon the depositors to subscribe to stock from their deposits; and upon the business interests and the community at large to subscribe with new money. It is encouraging to know the banks of the community are wholeheartedly cooperating in the move- ment.

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LANC. TRUST LEADERS ARE OPTIMISTIC

(Continued From Page One) to the of the of Lancaster Trust Company; the Fulton National Bank which proposed would part the assets: and the Controller the Currency of the United Quickly the which every effort would be to available percentage of the depositors' money immediately The committee the plan point the impetus local trade would be given by the unleashing of these Those which are not over by the Fulton would group trustees chosen by Lancaster Trust Company depositors would liquidate the paper other frozen time they felt was the of the Under this plan would much returns than by of the Trust Company's affairs, the committee believes.

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Depositors Push Bank Plan Total Near 6 Million Mark

Latest Legal Action Taken By State Banking Department Will Not Interfere With Program, Counsel For Commonwealth Explains; Matter of Form

Depositors accounts approved the organization committee's plan for handling affairs of the closed Lancaster Trust company. according to the latest tabulation headquarWednesday evening With many hundreds of votes still urging to sign the possible that the tails completed per the selected the Fulton National bank As depositors owning the deposits approved commitahead the necessary steps, wasting make assets available through the FulEXPLAINS LEGAL ACTION placed edithe Intelligencer Lancaster Trust Trust company in instructions receiving from the state bankand in no interfere with the plans reorganization special counsel by the banking Wednesday evening. are merely inserted form bearing directly upon (Continued On Page Six)

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Legal Notices

(Continued from Page Eleven) secretary PennThe Trust Helen estate George The first and final secretary bank. the Pennof The guardian Helen Hull estate Barlet. deceased HULL George No. 11, March Emma deceased. No 1916. first and PennThe Ralph Hull estate Susan The first and final Will bankPennRalph George and final secretary bankThe Trust Ralph Barlet. deceased final account William administrator. deceased November account of S. Millo Benjamin and William banking receiver Chester County Trust will of Benjamin HatEnos The first WilbankPennsylvania, receiver of The Trust guardian John Hostetter Bertha HostetJohn deceased. No. and final stated by thy and and partial count Dorothy Andes, ministratrix, Emma deceased. The and and Owen Hershey executors. 85. HOSTETTER and final account Farmers Bank Company New Holland, guardian Lydia Hostetter deceased and of banking the receiver The Lancaster Trust Milton Hilton Oscar, deceased Windolph, trustee Frank Aldus deceased April final account Mary Althouse, HUBER and final of HUBER deceased No Term, Grosh, Amos Term, The first and final William secretary banking the The caster Trust Company Fannie Dower HALL Charles, No February The account of Bertha Day, HURST Newton, deTerm. first and secretary banking Pennreceiver of The Lancaster Trust trusFrank Hurst No First William secretary banking the ceiver the Lancaster Trust testamentary The Presbyterian Church, Mary deceased. final account William secretary banking receiver Trust Company, of Herr Stoner HEISEY August final account Will ing PennThe Trust for the Jacob Anna 1924 and William vania, receiver The Trust trustee Clyde deceased No. William banking receiver The Lancaster Trust Company, CemeHAMBRIGHT Washington December First and partial count executor George Hambright, HARTMYER June 1905 final account William Gordon, secretary banking the receiver The Trust trustee HARTMYER April First final account William secretary banking receiver of the Lancaster Trust Company trustee fund. 102 deceased. Term, caster National Bank, ad103 Sarah deJanuary 1934. First and final Andrew, deceasNo. September Term. 1932. and final of Flora Leiper G. and KLEISS, Elizabeth April 1924 Banking the receiver The Trust Company trustee of KOPF, Carrie Kempf, deceas-

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Legal Notices count Lancaster County No. 23, Term, The first and final of William Gordon banking in the property of Trust guardian of 138. William deceased No. May Term The first William don secretary banking the ceiver The Lancaster Trust pany, Len139. deceased March The first and William of banking of the receiver The Lancaster Trust Ella Lefever. leased 70. February Term, 1920. The and final account liam banking the PennThe Trust trusLamparter deceased 87. Term. The first final William Gordon. secretary banking of The Trust Ellen Myers MILLER. deceased final William Gordon, banking the ceiver The Trust Company. Elizabeth Stoner. Ellen Gerhart Amos H. No. 144. MUSSER Charles de1933. and final account of ElizaMusser known as Betsy deceased First and The tional Bank of MOUNT PLEASANT M. No. August Term. first and final William Gordon, secretary bankthe of PennThe ous Deeds the use Mount Pleasant M. MOYER. Amanda Term, 1928 and final account William secretary the Elizabeth Moyer, Mary MusselMELLSOP Sarah deNo. 66, September Term. account Ulysses Koons, administrator, September first account of Charles administrator. 150. MILLER. Mary K., deceased No. January Term. and Alice No. MUSSER. Frank February Third and partial Musser H. Christ MUSSER, Frank de1933. and Christ Musceased. No. Term, 1914 The and final William secretary bankthe receiver The Lan. Philip, deceased February Term, first and account of Margaret MORROW Lillie M., William of Pennsylreceiver of The Lancaster testamentary trustee The Morrow Cemetey 156 MILLER deceased 1921 Gordon, the receiver of the Trust Comtrustee ClarMiller Ella H. Miller and deceased Term. first John Moser, executors 158 MENTZER Samuel, deceased. December First Trust Company of Lancaster. trustee of deceased December First and final Trust Company of trustee of 160. MENTZER deceased December First and final Farmers Trust Company Lancaster, trustee of No. 161 Rosa M. deTerm. final account William secretary banking the receiver of The Trust Term, final Alice 163. MILLER John deceased The account of Lewis Storb, exedeceased National Lancaster, Isaiah Term, 1921 and final account William Gordon, secretary banking the The McCORMICK Sallie deThe first and final William Gordon secretary The Trust for fund. 167. McMANUS. James 1934. First Joseph Lawrence McManus and the National William secretary banking Pennreceiver the Lancaster the Episcopal Church, NAUMAN, John deceased.

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Legal Notices

August Term, 1924 and final account secretary of the Pennsylvania, receiver The Lancaster Trust Company testamentary trusthe 170. Israel H. No. NIESS, Mary No. Term. 1923. The first account William Gorsecretary of banking the receiver of The Trust Company Velme Foster. No. de. ceased. No. September and final account William secretary banking the of The Lancaster Company, of 172. OLMSTED, Daniel, 84, August Term, 1934. and final account William secretary receiver The Trust Company, trustee of No. 173. Ada ceased. No. May 1933 Account Charles Cassel PresiJohn Zug secretary the Home, Neffsville, Pa., No. 174 PARKER, Harriet, Term, The final Pennsylvania, receiver The Lancaster Trust trustee Augusta Groff and Mary No. William deNo. First and The lives trustee Kemp 176. February Term final Aldus PROBST, deceased The secretary of the Pennsylvania, receiver The Lancaster Trust succeeding Erma Probst No. John No. Term. 1929 The first William secretary banking Pennsylreceiver The Lancaster Trust trustee pointment the fund for the care No. Rebecca de44, November Term. 1925 first final account William secretary the The Trust fund. 180. RIEKER. Frank No. The and account William Gordon, secretary banking Pennsylreceiver trusTrust Hospital June The first No. account of William and Gordon, secretary of banking Pennsylreceiver The Trust tee Memorial Mary deceased November Term, Final Northern Trust and account for No. RICKSECKER. Elizabeth No. 1914 The first final banking the of PennThe Trust trusEmma deceased Final Northern Trust and account Savings trustee for use No. 185. ROLAND, Jane deceased August 1934 first final secretary Pennreceiver of The Lancaster Trust tee The ConPa. No. 186. Term, The secretary bankthe Pennreceiver The Lancaster Trust trustee the estate James No Robert deceased. William Gordon. banking of Trust receiver Company, Little Britain Presbyterian 188. Galen 68, account Greenleaf, No. RISK deceased. April first account Hensel, trustee No. RISTON, Elizabeth September Term. account banking the The Lancaster Trust Company, trustee of The Burial No. ROWINSKI, Andrew deceased. January Term. The and account Harold Ripple, No. 192. RUHL The 193. RUTTER deceased February and final of George Mearig, No. ROLAND William First final The Ephrata Bank Ephrata, trustee in the estate of William No. 195 SCHMUCK William and final No. 196 Emma The SPANGLER Stella March First of William secretary banking Pennsylvania, receiver Trust Helen Spangler Scott) 198. Stella March 1925 First secretary the Pennsylvania, receiver The Mary Waltman. Katharine 1924. The first and final account

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NAME CHARLES GEBHARD DEPUTY BANK RECEIVER

Harrisburg, Today.—(AP)—Luther A. Harr, secretary of banking, Monday announced two changes in the list of deputy receivers in the division of closed banks.

Charles E. Gebhard succeeds Charles F. Bowman as deputy receiver in charge of the Agricultural Trust and Savings Company and the Lancaster Trust Company, both of Lancaster. The department is liquidating only the trust department of the latter bank, its commercial assets having been taken over by special liquidating trustees. Thomas J. Callahan replaces Walter Oliver as deputy receiver of the five closed banks in Luzerne county. The banks are the Dime Bank Title and Trust Company, Heights Deposit Bank, and Pennsylvania Liberty Bank and Trust Company, all of Wilkes-Barre; the Peoples Savings and Trust Company of Duryea, and the Plains State Bank.

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DEMOCRATS HIT BANKING CHANGE

Local Aspirants Disappointed as Lebanon Man Succeeds Bowman.

Bitter disappointment was voiced among local Democrats today because the appointment of a successor to Charles F. Bowman, deputy receiver for the Agricultural Trust and the Lancaster Trust companies, went to a Lebanon man instead of to one of the long list of local aspirants.

Charles E. Gebhard, an employe of the State Department of Banking, got the appointment, according to an announcement last night by Luther A. Harr, State Secretary of Banking.

Lancaster Democrats, aside from the fact that they lost the "plum," insisted today the affairs of the banks require the direction of a local man who is acquainted with local conditions, especially real estate. The deputy was liquidating only the trust fund at the Lancaster Trust.

Formal Notice to Bowman

Formal notice of his removal was contained in a letter to Mr. Bowman from E. J. Buckley, head of the Division of Closed Banks. Mr. Buckley wrote, in part:

"Dear Mr. Bowman: In accordance with the instructions received from the Secretary of Banking, I am writing this letter to inform you that he has seen fit to revoke your appointment as Deputy Receiver. In your place he has appointed Mr. Charles E. Gebhard.

"Dr. Harr has asked me to express his appreciation for the work which you have done in the past and to advise you that your salary will continue for fifteen days after the effective date of this appointment, which is as of the close of business April 15."

Mr. Bowman said today further liquidation centers largely around the disposition of real estate holdings, the market for which has quickened within the past several weeks. Two sales were completed last week, it was understood.

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Bitter disappointment was voiced among local Democrats today because the appointment of a successor to Charles F. Bowman, deputy receiver for the Agricultural Trust and the Lancaster Trust companies, went to a Lebanon man instead of to one of the long list of local aspirants.

Charles E. Gebhard, an employe of the State Department of Banking, got the appointment, according to an announcement last night by Luther A. Harr, State Secretary of Banking.

Lancaster Democrats, aside from the fact that they lost the "plum," insisted today the affairs of the banks require the direction of a local man who is acquainted with local conditions, especially real estate. The deputy was liquidating only the trust fund at the Lancaster Trust.

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No. 98. RUTTER, Laura A., deceased. No. 16, May Term, 1934. The account of D. G. Ranck, executor.

No. 99. RESSLER, Maria, deceased. No. 63, October Term, 1926. The first and final account of Luther A. Harr, Secretary of Banking of the Commonwealth of Pennsylvania, receiver of The Lancaster Trust Company, guardian of Mary Elizabeth Ressler, in the estate of Maria Ressler, deceased.

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No. 28. FRY, Menno M., deceased. No. 4, January Term, 1911. The first and final account of Luther A. Harr, Secretary of Banking of the Commonwealth of Pennsylvania, receiver of The Lancaster Trust Company, testamentary trustee for the use of Anna H. Fry, in the estate of Menno M. Fry, deceased.

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CHAS. GEBHARD IS DISMISSED AS BANK RECEIVER

Philadelphia, Today—(AP)—Secretary Luther A. Harr announced today the release of Charles E. Gebhard, of Lebanon, as deputy receiver of six closed banks in Lancaster, Lebanon and York counties.

The six banks will be placed in charge of Leo A. Werner, of Harrisburg, now liquidating three banks in the latter city.

"This action is taken in the interests of economy," said Dr. Harr. "Liquidation of the six banks under Mr. Gebhard's charge has reached such a point that it seems no longer necessary to retain his services.

"Depositors in the nine banks will benefit through savings in salary and other overhead through these changes."

Gebhard, who has been receiving $5500 per annum, has been in charge of these banks:

Lancaster County—Agricultural Savings and Trust Company and the Lancaster Trust Company (Trust Department only) both of Lancaster.

Lebanon County—People's Trust Company, of Annville.

York County—Farmers and Merchants Bank, of Dillsburg; Farmers State Bank of Hellam; Shrewsbury Savings Institution.

Werner, whose salary is $4500, has been liquidating the Commercial Trust Company, the Mechanics Trust Company, and the Security Trust Company, all of Harrisburg. His salary and other overhead will now be prorated among the nine banks in his charge.

Dr. Harr's action is effective as of today and Werner will take charge as soon as audit has been made of the assets of the six banks which will be handed over to him.