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ANOTHER BANK GONE The First National of Provo Suspends Payment. DEPOSITORS WILL BE PAID UP. Dull Times, Impossible Collections and Shricking Deposits the Cause of the Failure. The announcement came from Provo today that the First National Bank of that city had closed its doors. This action on the part of the bank occasioned considerable surprise, for the officers were well known to be financially strong. This latter fact had the influence of suppressing the excitement that otherwise might have followed. The First National bank opened as usual this morning, but at 11:30 o'clock the doors were closed and a notice put up that all depositors would be paid in full. The bank is entirely solvent,and the suspension may beonly temporary, but this is an open question. The assets of the bank amount to $90,000, while the liabilities aggregate but $55,000, according to Cashier W. H. Dusenberry, who was In Salt Lake today. He was asked for the cause of the suspension, and said: "It le the general cry. Impossible collections, and a gradual melting away of deposite. The people were drawing out their money because of the dull times. The bank is not insolvent, but all depositors will be paid in full." The president of the bank was A.O. Smoot, but hisrecent illness has prevented his attending to its business for some time. The Deseret National bank wasthe Salt Lake correspondent of the Provo institution, and several the leading men in the former are interested in the latter. MORE DETAILS. Special to the NEWS. PROVO, Utah, June 30.-The doors of the First National bank of this city closed at 11.80 this morning. The following notice was posted: "First National bank closed temporarily. Depositors will be paid in full." The directors are sanguine that the bank will resume business at an early date. The assets are largely in excess of the liabilities. The assets amount to upwards of $100,000. and the liabilities, leaving out capital stock of $50,000, and a surplus fund of $10,000, are less than $35,000 The difficulty with the bank for some time past has been in failing to collect on paper as it fell due. Many thousands of dollars in notes, etc., have, within the last few weeks, fallen due, but it has been entirely out of the question to obtain the money without seriously affecting many of the most vital interests of Provo. The people and institutions owing this money have been utterly unable to meet the obligations they were under to the bank, and there was no other recourse than to continue carrying them without involving them in financial ruin. The directors for a week or two past have been endeavoring to rediscount some of this same paper to enable them to tide over the present crisis, but no matter how gilt edged the securities offered were, money could not be obtained from any source. The bank might have continued business, but for several days past depositors have been quietly withdrawing their money from the bank, until this morning the entire cash on hand was exhausted. The following is the bank statement as shown by the books this morning:
