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Committee of Business Leaders Works To Organize Institution Taking Over Old Liquid Assets; Lucas East Lansing Conservator Definite steps for the formation of new national bank in Lansing to supplant the Capital National bank, taking over its liquid assets, were in progress Friday in Lansing. This action followed appointment of Nathan P. Hull, Lansing, as conservator for the Capital National bank, an action which had been requested by directors of the institution. Other conservators announced Friday afternoon for central Michigan state banks include the following: Herman S. Lucas, East Lansing State bank; Frank J. Stevens, Chesaning State bank; R. Teeters, Shiawassee County Bank of Durand; Carl O. Derby, Maynard-Allen State bank of Portland; E. Mills, Loan and Deposit Bank of Grand Ledge: Riches, Exchange State Bank of Mt. Pleasant; E. H. Fox, St. Charles State bank. Officers Connections Mr. Hull director the Detroit branch of the federal reserve system, and also member of the board directors of the Capital tional bank The conservator announced that officers, directors and employes the bank had severed their relations with the institution immediately upon appointment Miles Grant, former assistant was named first assistant Hull Friday morning. Several additional employes rehired, Hull pointing out that engaging his force he selecting some those best acquainted with the of the bank and had taken consideration that the bank will employ many of the old employes. He said that changes the personnel would be made work progresses. Working Comptroller The formation the new bank, planned by local expected to completed within the days rules regulations laid down the comptroller the currency Washington. Immediately upon receipt of its conferences the conservator former Capital bank the taking the tion, percentage first available the depositors temporary reorganization comof Olds, ident Olds Harper. the tor Wheel corporation: president the Michigan Supply company: president the Insurance company: Bates, secretarytreasurer the Motor Car Ballard the Silsby. Ballard, and the MichScrew company Mr. chairman of the board the Capital National bank. that since the holiday directors the bank have been endeavoring to bring about bank from the Union Group. and bank, necessary to organize institution. In order accomplish this the the Capital bank requested comptroller currency point conservator. whose selection was announced Friday morning. To Inventory Assets Mr. Hull declared Friday morning that serve the assets, follow the law and co-operate with the and industrial life of Lansing far sible under the He said that first step make an inventory assets Capital National With exception making change payments bank pended Friday morning. Mr. Hull the comptroller of currency permission trust accounts. sage granting this permission pected later the Other Aides Employed Other the conservator's the bank announced shortly Friday follows: Marshall Westfall, Goodell John Nelligan. Mabel Towner. Karlyle GansGeraldine Balcom. Myra Clark, John Bella Mark VanFrank. George David Timmons, John Kenneth Brodberg. Edna Robert Conklin, Harold Edward Georgiana Dool. Darlyne Marofsky. Arda Frieda Harold Catlin, Kenneth Ernest Deacon, Otto Marquart George Wyatt. Mr. Hull announced that the disthe branch ployes those institutions not determined.
