First National Bank (Enosburg Falls, VT)

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26 NATIONAL BANKS OPEN IN STATE, 19 STILL CLOSED

Boston. — Twenty-six national banks in Vermont have been licensed and are open said Federal Reserve District headquarters here Thursday, and 19 have not been licensed.

The list is as follows:

National banks opened in Vermont: County National Bank, Bennington; First National Bank, Bennington; First National Bank, Brandon; Howard National Bank & Trust Company, Burlington; Merchants National Bank of Burlington; National Bank of Chester, Chester; Caledonia National Bank, Danville; National Bank of Derby Line, Derby Line; Allen National Bank, Fair Haven; First National Bank, Fair Haven; Factory Point National Bank, Manchester Center; National Bank of Middlebury, Middlebury; First National Bank, North Bennington; Northfield National Bank, Northfield; First National Bank, Orwell; Randolph National Bank, Randolph; Richford National Bank, Richford; Killington National Bank, Rutland; Rutland County National Bank, Rutland; First National Bank, Springfield; First National Bank, St. Johnsbury; Merchants National Bank, St. Johnsbury; National Bank of Vergennes, Vergennes; National Bank of Newbury, Wells River; First National Bank, White River Junction; Woodstock National Bank, Woodstock.

National Banks not yet opened in Vermont: People's National Bank, Barre; National Bank of Bellows Falls; National White River Bank, Bethel; Bradford National Bank, Bradford; Brandon National Bank, Brandon; Vermont-People's National Bank, Brattleboro; First National Bank, Bristol; National Bank of Orange county, Chelsea; First National Bank, Enosburg Falls; Island Pond National Bank, Island Pond; First National Bank, Montpelier; Montpelier National Bank, Montpelier; National Bank of Newport, Newport; Citizen's National Bank, Poultney; National Black River Bank, Proctorsville; Central National Bank, Rutland; Clement National Bank, Rutland; Welden National Bank, St. Albans; State National Bank, Windsor.

Between 1815 and 1918, no less than 44 distinct wars had been fought for the sake of nationalism.

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P. E. Sullivan Resigns as Enosburg Bank Receiver

P. E. Sullivan announced to-day that he had tendered his resignation, subject to acceptance by the comptroller of the currency, as receiver of the First National Bank of Enosburg Falls.

Mr. Sullivan was appointed receiver of the bank on February 26, 1934, succeeding H. C. Comings who had acted as conservator since the banking holiday of March, 1933.

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P. E. Sullivan announced to-day that he had tendered his resignation, subject to acceptance by the comptroller of the currency, as receiver of the First National Bank of Enosburg Falls.

Mr. Sullivan was appointed receiver of the bank on February 26, 1934, succeeding H. C. Comings who had acted as conservator since the banking holiday of March, 1933.

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SUES STOCKHOLDERS OF ENOSBURG BANK

Receiver R. W. Ready Initiates Action Against Five For $23,250

(Special to The Messenger) RUTLAND, June 13—Proceedings to collect a total of $23,250 from five stockholders of the First National bank of Enosburg Falls, have been instigated in the United States District court by R. W. Ready of St. Albans, receiver for the bank, which is now insolvent.

Papers in the action have been served through the office of United States Marshal A. W. Harvey in the federal building here on the five defendants, Elsie Greenwood of Enosburg Falls, who is being sued for $10,000; W. R. Ovitt of Enosburg against whom a suit has been filed for $2,000; H. C. Comings of Richford, from whom damages of $7,500 are sought; Elizabeth Forty of Berkshire, who is being sued for $3,000 and T. C. Jennison of Sheldon, from whom the receiver asks $750.

In his complaints Ready states that prior to March 4, 1933, the First National bank of Enosburg, chartered as a National bank, was declared insolvent by Comptroller of Currency J. F. T. O'Connor, and that the plaintiff was appointed receiver on April 24 of this year.

Ready asserts that the suit brought against the five defendants is based on a law which provides that the stockholders of every national banking association shall be held individually responsible for all contracts, debts and engagements of the organization, each to the amount of stock he holds, at its par value, in addition to the amount invested in such stock.

Ready states in the writ that when the comptroller of currency was satisfied that the bank was unable to pay its obligations in full, it was necessary to enforce the individual liability of the shareholders to the extent of the assessment of $100 on each share of stock held in the bank. The defendants, he claims, failed and neglected to pay the assessments.

The suits will be tried during the fall term of United States District court.