Citizens Bank (Albion, PA)

Article Text

Examiners Close Old Savings Bank

ERIE, Pa., Oct. 10—The Citizens' Bank of Albion, Erie county, the oldest banking institution in that city, was closed by state bank examiners today. They reported that they had discovered a shortage of $67,000. R. J. Griswold, cashier, was arrested.

Griswold was charged with falsification of the bank's accounts and admitted to 15,000 bail. Stockholders of the institution offered to make good any shortage.

A statement issued this morning showed that the Albion Bank had approximately $87,000 to cover the reported losses. The capital stock was $50,000; surplus, $17,500; cashier's surety bond $10,000, and undivided profits $9500.

Article Text

FIND BANK ACCOUNTS SHORT, HOLD CASHIER

ERIE, Pa., Oct. 10.—(By A.P.)—The Citizens bank of Albion, Erie county, the oldest banking institution in that city was closed by state bank examiners Wednesday. They reported that they had discovered a shortage of $67,000. R. J. Griswold, cashier, was arrested.

Article Text

EASTERN BANK CLOSES (BY THE ASSOCIATED PRESS)

Erie, Penn., Oct. 10.—The Citizens bank of Albion, Erie county, the oldest banking institution in that city, was closed by state bank examiners today. They reported that they had discovered a shortage of $67,000. R. J. Griswold, cashier, was ar-

Article Text

CORN EXCEEDS CANADA WHEAT

Scarcity of Supply Held Shifts Ration of Grain Prices.

New York, Oct. 10.—The scarcity of old corn held has resulted in a remarkable shifting of values compared with other commodities.

In normal times corn sells about 25 cents under the price of wheat. Tuesday, No. 3, yellow corn, in the local market was quoted at $1.22 1-2 or fully 6 cents above the price of No. 1, Manitoba wheat, and only a few cents under American cash wheat.

Granulated corn meal was quoted at $2.90 per 100 pounds, which is equivalent to about $5.60 per barrel for flour, whereas, soft winter wheat straights a good grade of wheat flour, were quoted around $5 and the very best brands of spring patents not over $6.75.

New corn is expected here within 30 days.

BANK CLOSES.

Erie, Oct. 10.—The Citizens Bank of Albion, Erie county, the oldest banking institution in that city, was closed by state bank examiners Wednesday. They reported that they had discovered a shortage of $67,000. R. J. Griswold, cashier, was arrested.

Article Text

BANK IN TROUBLE IS DESTROYED BY FIRE

BY THE ASSOCIATED PRESS

ERIE, Pa., Nov. 18.—Fire early today destroyed the Citizens Bank building at Albion, this county, and for several hours threatened the entire business block. The loss was estimated at $150,000. The Citizens Bank was closed early in October by a state bank examiner when a shortage of $67,000 was discovered. A meeting of the directors had been called for Wednesday to consider a plan for reorganization.

The loss to the Citizen's Bank building was estimated at $85,000, the other losses being incurred by occupants. The bank records and securities were saved, it was announced.