Citizens Bank (Barnesboro, PA)

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SIX CLOSED BANKS TO PAY DIVIDENDS

Philadelphia. Oct. -Dividend payments totaling $496,099.97 will be made to 33,053 depositors in six defunct Pennsylvania banks within the next two weeks. according to an announcement made here today by Dr William D. Gordon, state secretary of banking The Allentown Trust company of Allentown will disburse a 13 1-2 per cent dividend. amounting to $141.792.20 to its 11,555 depositors on October 14. The Miners and Mechanics Saving bank. Carbondale, Lackawanna county, will distribute a 5 per. cent dividend. amounting to $134,214.22 On October 11. the Archbald bank. of Archbald. Lackawanna county, will make a 5 per cent payment of $41.A twelve per cent dividend amounting to $129,497.50 will be paid to the 7,543 depositors of the Darby Bank and Trust company. of Darby on October 10 A nine per cent dividend. amounting to $21,258.74. will be distributed to the 971 depositors of the Citizens Bank of Barnesboro, Cahbria county, on October 8.

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Joseph Siciliano New Bank Receiver in This Section

Joseph Siciliano, Johnstown real estate man, has been appointed by Dr. Luther A. Harr, State Secretary of Banking, as the receiver for a group of seven banks in Cambria and Blair counties.

Attorney William A. McGuire, of Johnstown, was appointed at the same time as counsel to the receiver. The appointments are effective March 1. Siciliano's salary, it is understood, will be $6,500, and that of McGuire about $5,000.

The banks included are the Citizens' bank of Gallitzin, the Ebensburg Trust company, the Cresson Deposit bank, the Citizens' Bank of Barnesboro, the Miners' & Merchants' Deposit Bank of Portage, the Miners' & Merchants' Bank of Nantyglo, the Mountain City Trust Company of Altoona, and the Title, Trust & Guarantee Company of Johnstown.

The banks were formerly in charge of Harold R. Brown, of Ebensburg, and the Johnstown bank in charge of Nelson A. Elsasser.