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Doors of Hanover Bank of Boston Are Closed. Savings Bank Commissioners Make the Complaint Alleging That Continuance Would Be Hazardous to Public and Depositors. Boston, Feb. 6.-The savings bank commissioners alleging that the continuance of the institution would be hazardous to the public and to those having funds in its custody, Judge Braley, of the supreme judicial court, today issued a temporary injunction against the Hanover Bank, a West Virginia corporation, which has its main office at 133 Hanover street, this city, and branches in the towns of Norwood and Stoughton, Mass. All the officers and directors of this bank are residents of New York. One of the directors, Robert G. Ruxton, was arrested yesterday in New York with John S. White, president of the Imperial Trustees Co. of Jersey City, and Clyde Colt. a New York broker, by United States authorities on indictments charging them with using the mails to defraud. Foster Hooper. who has been known as the vice president of the Hanover Bank. was also arrested yesterday, having been taken into custody in this city on a bench warrant issued by the Caited States district court of New Jersey and charging Hooper with using the mails to further a conspiracy to defraud. The records of the state commissioner of corporations indicate that M. S. Rosewig. of the firm of McJilton & Co., corner of Washington and Courtland streets. New York, is president of the Hanover Bank: that F. W. Jacobs of 32 Broadway, New York, is secretary and treasurer, and that the directors include Robert G. Ruxton, H. B. Mahn, 32 Broadway, New York, and W. Z. Holmes, Fifth avenue and 23d street, New York. The savings bank commissioners decline to disclose the exact condition of affairs of the bank. having turned the entire matter over to Attorney General Dana Malone. The question of making the injunction against the bank permanent and the question of appointing receivers will be heard tomorrow in the supreme court and until that time had arrived the attorney general preferred not to make public the details of the commissioner's report. Mr. Mr. Malone stated, however, that the liabilities of the institution representing the amount due depositors was $32,535. The Hanover Bank occupies a unique position in banking circies, as it is rated neither as a savings nor a national bank. It is a foreign corporation, having received its charter in West Virginia in June, 1905. Its capital stock is $250,000. In the year of its incorporation the Hanover Bank took over the State Banking and Safe Deposit Co., an Arizona corporation with a capital of $1,000,000 and, with its main offices at Hanover street, this city. The president was Charles K. Amidon and the treasurer Albert H. Eastman. The directors included Edward K. Amidon, Foster Hooper, who was arrested yesterday, and Edgar F. Power. In their bill of information to the court the bank commissioners declare that on examination into the company's affairs it appeared that its condition was such as to render the continuance of its business hazardous to the publie and to those having funds in its custody. It is understood that if losses are to be sustained by depositors they will not be as heavy as they would have been several months ago, because of the recent closing of the Provident Securities and Banking Co., which now owes over $193,000 to over 9000 depositors. The embarrassment of the Provident institution induced many persons having money on deposit with the Hanover Bank, both at its main office here and in its branche offices at Stoughton and Norwood, to withdraw their deposits. It is alleged that Hooper. the vice president, and President White of the Imperial Trustees Co. were concerned in a conspiracy to defraud the Scranton. Factoryville & Tunkhannock Railread Co. made a business of investigating and guaranteeing certain stocks. Those that upon investigation proved is a satisfactory investment were, it claimed, divided among banks connect(Continued on Page Five.)
