Full suspension, Books examined
Two Day Run Closes Second Bank In Gary Gary, Ind., Jan. 6 (LP)-The First National Bank, a $4,500,000 institution, closed at 1:30 p. m. Tuesday after two day run on deposits. Gary was left with only one bank, the Gary State, the National Bank of America closed Monday and the run on the First National followed. Closing of the last bank in Hammond to weather the financial pressure in the Calumet district on Saturday was believed partly responsible..
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ALL BANKS BUT ONE HAVE FAILED IN CITY OF GARY, INDIANA Gary, Ind., Jan. 6.-The city of Gary found itself tonight with only one bank still doing business. The next to last bank in the city closed today because of a run. It was the First National, a $4,500,000 institution. President F. R. Schaaf predicted it would be reopened within a week. Bank runs started in the Calumet district of Indiana last week. On Saturday, the last bank in nearby Hammond, a city of 64,000 persons, was closed, making Hammond probably the only city in America of that size without a single banking institution. Monday the National Bank of America closed here. That left only the First National and Gary State. When the First National closed at 1:30 p. m. today, only the Gary State was left.
David Jennings of Indianapolis has been appointed receiver of the First National Bank of Gary which was closed recently temporarily. Mr. Jennings expects to assume charge of the bank's affairs as soon as the examiners conclude their duties which is expected about the end of the week.
David Jennings of Indianapolis has been appointed receiver of the First National Bank of Gary which was closed recently temporarily. Mr. Jennings expects to assume charge of the bank's affairs as soon as the examiners conclude their duties which is expected about the end of the week.
David Jennings of Indianapolis has been appointed receiver of the First National Bank of Gary which was closed recently temporarily. Mr. Jennings expects to assume charge of the bank's affairs as soon as the examiners conclude their duties which is expected about the end of the week.
David Jennings of Indianapolis has been appointed receiver of the First National Bank of Gary which was closed recently temporarily. Mr. Jennings expects to assume charge of the bank's affairs as soon as the examiners conclude their duties which is expected about the end of the week.
David Jennings of Indianapolis has been appointed receiver of the First National Bank of Gary which was closed recently temporarily. Mr. Jennings expects to assume charge of the bank's affairs as soon as the examiners conclude their duties which is expected about the end of the week.
David Jennings of Indianapolis has been appointed receiver of the First National Bank of Gary which was closed recently temporarily. Mr.
David Jennings of Indianapolis has been appointed receiver of the First National Bank of Gary which was closed recently temporarily. Mr. Jennings expects to assume charge of the bank's affairs as soon as the examiners conclude their duties which is expected about the end of the week.
Appointment of David Jennings of Indianapolis yesterday as receiver for the First National bank of Gary and busily engaged with these receivership duties for two weeks now, made plans for the National Bank of America receivership problems this morning.
Attorney Ernest W. Force of Gary has been named attorney for the receiver of the First National bank of Gary.
Appointment of David Jennings of Indianapolis yesterday as receiver for the First National bank of Gary and busily engaged with these receivership duties for two weeks now, made plans for the National Bank of America receivership problems this morning.
Attorney Ernest W. Force of Gary has been named attorney for the receiver of the First National bank of Gary.
GARY, Ind., Feb. 17.-Gaty's city employes, who experienced "payless payday" Tuesday because the depleted condition of the general fund, will be paid in full on Saturday, partly result of action taken by the city council, By unanimous vote the council suspended its rules to pass an dinance authorizing the transfer $25,000 from special fund for street repairs to the general fund for use in meeting the city payroll.
The money represents approximately half of Gary's share of the 1931 distribution of state gasoline tax revenue. A draft for the amount was received Saturday by City Controller Roswell B. Johnson. In addition to the $25,00 put into the general fund by the council, the city controller expects to realize $18,000 from the sale of U, S. government bonds obtained recently from the closed First National bank where they furnished security for city funds on deposit during the bank's solvency.
Oct. 4.-Payment of 20 percent dividend for du. positors in the closed First Na. tional Bank here started today. A total of $340,000 was to De d14tributed, with the largest single The bank closed last Jan. 5.