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New Bank Chartered. Sidney.-The Sidney National bank has been chartered and will open about May 1. This new bank will take over the business of the First National bank of Sidney. which closed May 10, 1921, and will pay depositors in full under a certificate of deposit plan, which has been approved by the comptroller of the currency at Washington, D. C. The officers of the new bank will be Francis A. Chap. man, president; Ralph S. Price, vice president, and Charles L. Mann, cashier. The capital stock will be $50,000 with a paid up surplus of $25,000 at the start. There will also be organized and operated in the same building the Sidney Investment company with a capital stock of $300,000 and surplus of $200,000. They will handle the investments of the closed First National bank and act as holding company for the loans and deposits of the defunct bank. The officers of the Investment company will be Francis A. Chapman, president and Ralph S. Price, secretary and treasurer, with W. F. Swatzlander as general manager. This company will attend to the liquidation of the assets of the First National bank. Mr. Chapman, the president of the institutions, comes from Colorado, where he has had banking experience. He also has been the receiver of the First National bank of Sidney, Chappel and Bridgeport. Mr. Price has been assistant to Mr. Chapman and was formerly engaged in the banking business in Grand Island, where he was associated with the Grand Island State bank. Mr. Mann has lived in Sidney for several years and was formerly assistant cashier of the First National bank. - The new bank will occupy the quarters formerly occupied by the First National bank.
