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BANK HAS SUSPENDED Voluntary Liquidation Proposed for Yundt Institution; Low Cash Reserve Cause of Trouble. MULBERRY, Ind., March (Special) The community was surprised this morning learn that the Mulberry Bank and Trust company had been closed. notice on the door stated that the bank was temporarily closed to permit state audit. Officials plan liquidation. low cash reserve, lack of profit the institution and "frozen assets' given B. Hollereasons for closing. charge the building man, and division of the state banking department, was in charge of the bank's affairs here He today an is and quoted as saying that depositors may not Yundt IN president of the bank and Brand, secretary. Mrs. Genevieve Rhodes Indianapolis. daughter of Mr. Yundt, was but filled the last place was not election. institution bank. in 1908 as state ganized charter expired two When the years the name changed to Mulberry Bank and Trust company. LATEST STATEMENT. the The last statement of the state prison trustees that of December 31, 1929, be denied bank, total and former Ku Klux Klan of $344,802. Loans dis- grand dragon, who serving ties were given at $267,123: life murder. counts at the prison last total deposits, $267,533, and The bonds clos$9,200. week voted against granting the and ing leaves Mulberry with only one parole. bank, Citizens National. The incident here is similar to that many other small com- Laetare Medal in munities of the state, which have found that two banks cannot ist with Mr. Holleman said. Of Notre Dame The bank did not have run.
