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11 BANKS FAIL TO OPEN THEIR DOORS Five States in Lower Middle West and South Affected by Action (By the Associated Press) Eleven banks in five states of the south and lower middle west failed to open for business today. Banks in English, Leavenworth, Corydon and Corydon Junction, all small communities in southern Indiana, were taken over by the state banking department on the heels of the closing yesterday of two banks at New Albany, Ind.. across the Ohio river from Louisville. Banks at Paris, Tenn., at Doniphan and Edina, Mo., at Crestwood. Louisville suburb. and Madisonville. Ky.; at Asheville. N. C., and a negro bank in Nashville, Tenn., were the others to close. Closing of the six Indiana banks was attributed to the recent failure of a group of Louisville banks. The closing in Kentucky today brought the number there to 15 in a week, seven in Louisville and two in its suburbs. The Asheville closing was the ninth in North Carolina in two days. The Missouri closings were blamed to heavy withdrawals. Governor Horton of Tennessee pledged a "full and complete investigation" of all state government departments as a result of state financial difficulties which followed the naming of a receivership for Caldwell and company, investment bankers.
