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BANK OF DONALDSONVILLE SUSPENDS. Oldest Established Banking Institution in the City Closes Its Doors and will Liquidate Its Affairs--Excessive Loans and Inability to Realize on Collateral Cause of the Crash. incorporated in 1900, the other two At a meeting yesterday of the board of directors of the Bank of local banking institutions, are in strong financial condition and are Donaldsonville, participated in by the representatives of at least two prepared to meet any emergency New Orleans banks to whom the lowhich the closing of the older bank cal institution is heavily indebted, might occasion. They enjoy the fullit was decided not to open the doors est confidence of the public, and noof the bank for business this mornthing in the least resembling a run ing. W. L. Young, state bank exupon them has developed. On the aminer, was communicated with ovcontrary, instead of any alarming er the long-distance telephone at withdrawals of deposits, as might his home in Shreveport and notified naturally have been expected, they of the action of the directors, and report the opening of a number of Assistant Examiner Henry N. Thompnew accounts, and it is evident the son left that city at midnight and suspension of the Bank of Donaldsonarrived here at 2 o'clock this afterville will not entail any serious connoon to look into the situation. sequences to them or the other business or commercial enterprises of The following notice was posted on the doors of the institution this the city. The defunct institution was the ofmorning: ficial depository of the police jury "Whereas, owing to the stringency and school board of Ascension parof the money market, and the delay ish, and was also the United States in the moving of the crops and margovernment's local depository for keting of the same, and the inabilipostal savings funds. ty of this bank to realize at once on A list of the stockholders of the its assets without great sacrifice in bank, with their shares, as compiled order to meet its obligations as they from the assessment rolls for the maqure, therefore be it current year on file in the office of "Resolved, by the board of directhe sheriff and tax collector, is as tors of the Bank of Donaldsonville, follows: Dr. W. M. McGalliard 30, Shat in order to protect the best inAdolphe Netter 5, A. D. Vega 5, W. terest of its creditors, the bank D. Park 5, Fred. Wilbert 10, Mrs. Jease operation, and that liquidators M. Garcie 5, McCall Bros. 10, C. be appointed to liquidate the affairs Kline 10, John W. Tucker 50, Mrs. of the bank. B. S. Hanson 8, E. Langbecker 19, "The following members of the Mrs. L. F. Goette, (tutrix) 43, L. board of directors were present: C. D. Bentley 8, Prosper Rodrigue 10, Kline, E. J. Caire, J. L. Rolling, C. 0. M. Montecino 3, S. B. Bottom 20, R. Alleman, Ed. C. Wathen, W. D. George Vives 6, Guy Hunt 8, C. R. Park, Chas. Maurin." :Alleman 10, Mrs. J. L. Richard 10, The Bank of Donaldsonville, the A. Wutke 2, Ernest Guillot 2, H. Ohloldest established banking institution meyer (administrator) 2, Alex. Juhere, was organized in 1892, and bemonville 2, Mrs. Charles Schrieber ing the first bank between New Or2, W. E. Matthews 2, Charles Mauleans and Baton Rouge following the rin 10, J. P. Weatherford 6, Paul dissolution, of the Donaldsonville Wutke 5, J. N. Colomb 5, E. J. Caire branch of the old Louisiana Bank of & Co. 100, G. D. Bentley 2, Fred. New Orleans at the close of the Rogge 10, Ed. C. Wathen 40, George civil war, became a prosperous conLandry 3, Alfred Poche 5, R. C. Marcern at once, and in the course of tin 10, T. S. Robbins 10. its business career of twenty-one The last published quarterly stateyears accumulated deposits in exment of the bank, showing its condicess of half a million dollars. tion at the close of business Sept. The cause of the failure of the 10, 1913, contained the following bank is attributed to excessive mortfigures: gage loans and the accumulation of