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THE BANK STOPPED But the Depositors Will Be Paid in Full. Norwalk, Ohio, Jan. 15.-The doors of the Ohio Trust company were closed today. A. (voluntary assignment was announced, and H. L. Smith of Cleveland, and H. E. Barns were appointed receivers. The bank officials say they expect to pay the depositors in full. The bank was established in 1903. The last statement shows deposits of $412,000 and loans of $380,000.
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MAY DECLARE CALIFORNIA bank OF OAKLAND INSOLVENT By Associated Press. OAKLAND, Jan. 15.-Proceedings were begun this afternoon to declare the California bank of Oakland insolvent. A petition was filed by Attorney General R. C. Van Sleet for the state bank commission, declaring that the bank accounts showed a deficit of more than $20,000, the real amount not being known to the petitioner. He asked that a receiver be appointed. A similar petition was made by E. P. Cook for the depositors of the bank. Rod W. Church has been mentioned as a candidate for receiver. The petitions made today have been assigned to department two before Judge Melvin. PARKERSBURG, W. Va., Jan. 15.-A receiver was appointed today for R. M. Smith & Co., wholesale lumber dealers. The assets are given as $500,000 and their liabilities as $350,000. The company is said to be entirely solvent, but owing to the money stringency could not get ready money enough to carry on its affairs. NORWALK, Ohio, Jan. 15.-The doors of the Ohio Trust company here were closed today. A voluntary assignment was announced. H. L. Smith of Cleveland and H. E. Barns were appointed receivers. The bank officials say they expect to pay depositors in full. The bank was established in 1903. The last statement shows deposits of $412,000 and loans to the extent of $380,000. NEW YORK, Jan. 15.-Two indictments charging that William R. Montgomery, while vice president of the Hamilton bank, misused the funds of the institution were returned today by the grand jury. I BIRMINGHAM, Ala., Jan. 15.-The firm of M. Waller & Co., cotton commission merchants and insurance agents of Selma, Ala., was thrown into involuntary bankruptcy today. Liabilities are estimated at $500,000 with assets of $150,000. FRANKLINVILLE, N. Y., Jan. 15.-Cashier E. D. Scott and Bookkeeper R. W. Van Hosen of the People's National e t bank of this place were arrested today on four charges in connection with the e bank's failure. They were held in $4000 g bail each.
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Norwalk, O., Jan. 16.-The doors of the Ohio Trust company here have been closed. A voluntary assignment was announced and receivers were appointed. The bank officials say they expect to be able to pay all of the depositors in full. The last state. ment shows deposits of $412,000 and loans of $380,000.
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RECEIVERS FOR THE OHIO TRUST COMPANY Norwalk, O., Jan. 15.-The doors of the Ohio Trust company here were closed today. A voluntary assignment was announced. H. L. Smith of Cleveland and H. E. Barns were appointed receivers. Mr. Smith is one of the assignees of the Norwalk Steel & Iron company and the William Kavanaugh company of this city, The bank officials say they expect to pay depositors in full. The bank was established in 1903. The last statement shows deposits of $412,000 and loans to the extent of $380,000.
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Norwalk, O., January 16.-The doors of the Ohio Trust company here were closed today. A voluntary assignment was announced. H. L. Smith of Cleveland and H. E. Barns were appointed receivers by the court. The bank officials say they expect to be able to pay all of its depositors in full. The bank was established in 1903 and was capitalized at $30,200. The last statement shows deposits of $412,000 and loans to the extent of $380,000.
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NAMES MIXED Norwalk's Strongest Financial Institution was Made to Fail. Norwalk, O., Jan. 23.-By the confusion of names in a special sent out of this city, it was made to appear that the Norwalk National bank was in financial distress. The name of the Norwalk Savings bank, which closed its doors Monday afternoon by a voluntary deed of assignment, should have been used. The Norwalk National bank is one of the oldest and strongest financial institutions in northern Ohio, and its president, John Gardiner, the oldest active banker in the state if not the whole United States. Mr. Gardiner has been continuously engaged in the banking business for nearly seventy years and has weathered every panic and financial disturbance during that time. The firancial depression of the country for the past few months or the more acute distress in this city the past few days, with its two bank failures, are those of the Ohio Trust Co., and the Norwalk Savings bank, have caused him no worry, for his old fashioned banking methods wiped that care away. It has been a byword on the streets of Norwalk the past week that "if your money is in the Gardiner bank.' it is perfectly safe." The situation here is much relieved and conservative businessmen believe the crisis has been passed.
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Norwalk, O.-The doors of the Ohio Trust Co. here were closed. A voluntary assignment was announced. Assets $300,000; liabilities not given. H. L. Smith, of Cleveland, and H. E. Barnes were appointed receivers by the court.
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Congressman Laning Charged by Grand Jury With Bank Wrecking.
Norwalk. O., June 4.-Congressman J. F. Laning, formerly vice president and a director of the defunct Ohio Trust company, was indicted today on seven counts charging embezzlement, was jointly indicted with James P. Gibbs, president of the closed bank in two indictments in which obtain- ing money by false pretenses are alleged and another indictment charg- ing misapplication of the funds of the bank. F. W. Christian, secretary and treasurer of the bank was twice in- dicted on the charge of perjury and making false reports to the state examiners. William S. Perrin, a direc- tor is thrice indicted on the charge of obtaining property under false pretenses. Two additional indict- ments accuse President Gibbs of aid- ing and abetting Secretary Christian on the commission of perjury and making false reports. Altogether it is alleged Congressman Laning and President Gibbs abstracted and misapplied funds and credits of the bank to the extent of $56,864.
It was stated that the failure of the Ohio Trust company in January brought about the failure of two other banks, the failure of two steel companies and a receivership for the Laning Printing company of which Congressman Laning is president. Congressman Laning recently was nominated for a second term in con- gress.
The bond in the cases against Con- gressman Laning was fixed at $9,000; President Gibbs, $3,000; Secretary Christian, $1,000, and Director Perrin $1,500. While no formal papers were issued for the arrest of the congress- man and the three bankers they were unofficially notified, however, of the action of the grand jury. It was stated that during the day all would appear in court and give bond for their appearance.
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CONGRESSMAN LANING HELD Ohio Man Accused with Others of Diverting Funds from Trust Company. NORWALK. O., June 4.-Congressman J. F. Laning formerly vice president and a director of the defunct Ohio Trust company, who was indicted today on seven counts charging embezzlement. was jointly indicted with James P. Gibbs, president of the closed bank in two indictments in which obtaining money by false pretenses is alleged and another indictment charging misapplication of the funds of the bank F. W. Christian, secretary and treasurer of the bank, was twice indicted on the charge of perjury and making false reports to the state examiners. William S." Perrin, a director, is thrice indicted on the charge of obtaining property under false pretenses. Two additional indictments accuse President Gibbs of aiding and abbetting Secretary Christian in the charge of perjury and making false reports. Altogether, it is alleged. Congressman Laning and President Gibbs abstracted and misapplied funds and credits of the bank to the extent of $56,864. It was stated that the failure of the Ohio Trust company in January caused the failure of two other banks as well as the failure of two steel companies and a receivership for the Laning Printing company, of which Congressman Laning is president. Congressman Laning recently was nominated for a second term in congress.
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Laning of Ohio Charged With Embezzlement. Norwalk, O., June 5.-Congressman J. F. Laning, formerly vice president and a director of the defunct Ohio Trust company, was indicted on seven counts charging embezzlement, was jointly indicted with James P. Gibbs, president of the closed bank, in two indictments in which obtaining money by false p. ses are alleged, and another indictment charging misapplication of the funds of the bank. F. W. Christian, secretary and treasurer of the bank, was twice indicted on the charge of perjury and making false reports to the state examiners. William S. Perrin, a director, is thrice indicted on the charge of obtaining property under false pretenses. Two additional indictments accuse President Gibos of aiding and abetting Secretary Christian in the charge of perjury and making false reports. Altogether, It is alleged, Congressman Laning and President Gibbs abstracted and misapplied funds and credits l the bank to the extent of $56,864. It was said that the failure of the Ohio Trust company in January brought about the failure of two other banks, the failure of two steel companies and a receivership for the Laning Printing company, of which Congressman Laning is president.
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Laning of Ohio Charged With Embezzlement. Norwalk, O., June 5.-Congressman J. F. Laning, formerly vice president and a director of the defunct Ohio Trust company, was indicted on seven counts charging embezzlement, was jointly indicted with James P. Gibbs, president of the closed bank, in two indictments in which obtaining money by false pretenses are alleged, and another indictment charging misapplication of the funds of the bank. F. W. Christian, secretary and treasurer of the bank, was twice indicted on the charge of perjury and making false reports to the state examiners. William S. Perrin, a director, is thrice indicted on the charge of obtaining property under false pretenses. Two additional indictments accuse President Gibbs of aiding and abetting Secretary Christian in the charge of perjury and making false reports. Altogether, it is alleged, Congressman Laning and President Gibbs abstracted and misapplied funds and credits of the bank to the extent of $56,864. It was said that the failure of the Ohio Trust company in January brought about the failure of two other banks, the failure of two steel companies and a receivership for the Lan. ing Printing company, of which Congressman Laning is president.
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Congressman J. F. Laning of Ohio Charged With Much Rascality.
Norwalk, O., June 4.-Congressman J. F. Laning, formerly vice president and a director of the defunct Ohio Trust company, was indicted today on seven counts charging embezzlement and was jointly indicted with James P. Gibbs, president of the closed bank, in two indictments in which obtaining money by false pretenses are alleged and another indictment charging misapplication of the funds of the bank. F. W. Christian, secretary and treasurer of the bank, was twice indicted on the charge of perjury and making false reports to the state examiners. William S. Perrin, a director, is thrice indicted on the charge of obtaining property under false pretenses. Two additional indictments accuse President Gibbs of aiding and abetting Secretary Christian in the charge of perjury and making false reports.
Altogether, it is alleged, Congressman Laning and President Gibbs abstracted and misapplied funds and credits of the bank to the extent of $56,864.
It was stated that the Ohio Trust company in January brought about the failure of two other banks, the failure of two steel companies and a receivership for the Laning Printing company, of which Congressman Laning is president.
Congressman Laning recently was nominated for a second term in congress.
While no formal papers were issued for the arrest of the congressman and the three bankers, they were unofficially notified, however, of the action of the grand jury. It was stated that during the day all would appear in court and give bonds for their appearance.
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Congressman Laning Charged With Embezzlement. Norwalk, O., June 6:-Congressman J. F. Laning, formerly vice president and a director of the defunct Ohio Trust Company, was indicted today on seven counts charging embezzlement, was jointly indicted with J. P. Gibbs, president of the closed bank, on two indictments in which obtain ing money by false pretenses is charg ed, and another indictment charging misapplication of the funds of the bank. It was stated that the failure of the Ohio Trust Company in January brought about the faliure of two other banks, the failure of two steel companies, and a receivership of the Laning Printing Company, of which Congressman Laning is president. Co gressman Laning recently was nominated for a second term in congress.