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BANK IN RECEIVER'S HANDS First National of Ambridge, Penn., Forced to Close Its Doors. Washington, June 5.-Robert D. Garrett, a national bank examiner. was appointed today receiver for the First National Bank of Ambridge, Penn., which has closed its doors with a loss of at least $55,000, according to reports to the Controller of the Currency. The Controller was advised that the institution's capital of $50,000 and surplus of $5,000 had been wiped out. According to the bank's report on April 18, its total assets and liabilities were $271,867, including $166,487 individual deposits. The failure was caused, it is declared, by the bank's loans to a brewery company. Pittsburgh. June 5.-Following the failure of the First National Bank of Ambridge, a receiver was appointed to-day for the Ambridge-Economy Brewing Company. Justus Mulert was named receiver by the United States District Court and furnished a bond of $10,000.
