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BANK OF NEW MATAMORAS IN HANDS OF AN ASSIGNEE. FAILURE OF A CLEVELAND SAVINGS INSTITUTION CAUSED THE TROUBLE. DEPOSITORS STAND TO LOSE UNLESS THE PRESIDENT OF THE CEEVELAND CONCERN KEEPS HIS WORD. Special to the Register. Marietta, 0. August 20.-The bank of New Matamoras, the county, has closed. The deposits are practieally lost unless recourse is had on the private property of the stockholders. The bank was a partnership owned by Edward M. Gross, C. A. Cline, Jacob Gautschi, and E). A. Meyers. The ofdicers were President C. A. Cline, Vice President Jacob Gautschi. Until ano months ago the eashier was E. M. Gross. The latter was replaced by H. G. Ackerman. sent to take charge of affairs by the Superior Street Savings & Banking Co., of Cleve-and. The Cleveland bank made a proposition to organize a State bank, the Cleveland bank to take all the stock which the partners did not care to hold. The capital before Cashier Ackerman came amounted to $10,000 and deposits to $89,000. The Cleveland cashier transferred the deposits of the partnership bank to the new bank until there was over $50,000 on deposit there, Last week the Cleveland concern went to the wall. The New Matamoras people became suspicious and sent Cashier Acherman to Cleveland. He demanded the money. The Cleveland officials said that there were no funds In the, treasury and suspension followed. The stockholders of the New Matamoras bank were in the city this morning and applied for an assignee. Dr. W. L. West was named. The president of the C'eveland bank telephoned tais morn-ing that his bank would pay every cent of the indebtedness and that the suspension of his bank was caused by their demands.
