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OLDEST BANK CLOSES Veteran Institution at Lebanon. Mo., in Hands of State Commissioner. Lebanon, Mo., May 26.-The Bank of Lebanon, the oldest in Laclede county, was closed here today, with a notice on its doors that it was in the hads of the state bank commissioners. The institution had a capital and surplus of $70,000, according to announcements. The president, John Farrar, said all depositors would be paid in full, altho no explanation of the suspension was given out.
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Closed Bank Reopens. The secretary of state has issued a charter to the State Savings Bank of Lebanon, under which name the reorganized Bank of Lebanon has resumed business with a capital of $25,000. The Bank of Lebanon, the oldest banking institution in Laclede county, with a capital of $50,000 and deposits of $300,000. closed its doors on May 29 and has sin. been in the hands of the state banking department. The temporary suspension was due to a gradual decrease of deposits, owing to the local shortage of money, the bank's inability to realize quickly on large loans and a quiet run on the institution, following the circulation of unfavorable rumors. The difficulties which caused the bank's embarrassment have been removed, and its affairs have been settled without the loss of a single dollar by the depositors.
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Closed Bank Reopens. The secretary of state has issued a charter to the State Savings Bank of Lebanon, under which name the reorganized Bank of Lebanon has resumed business with a capital of $25,000. The Bank of Lebanon, the oldest banking institution in Laclede county, with a capital of $50,000 and deposits of $300,000, closed its doors on May 29 and has since been in the hands of the state banking department. The temporary suspension was due to a gradual decrease of deposits, owing to the local shortage of money, the bank's inability to realize quickly on large loans and a quiet run on the institution, following the circulation of unfavorable rumors. The difficulties which caused the bank's embarrassment have been removed, and its affairs have been settled without the loss of a single dollar by the depositors.