First National Bank (Gastonia, NC)

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FOUR BANKS IN NO. CAROLINA FAIL TO OPEN

Forced to Close by Depletion of Deposits; Hysteria Blamed

Raleigh, N. C., Dec. 16-Five banks, four Gaston county, North Carolina, the fifth in York South Carolina, failed to open for business today. The banks are the First National of Gastonia, deposits, capital stock, Bank deposits, $300,000; capital stock, $300,000. Gaston Loan and Trust Gastonia, ital stock. Bank Dallas. C., deposits. $75,000; capital stock, $30,000. People's bank, Western Gaston county, North Carolina, deposits, $75,000; capital stock. The First National of Gastonia suffered an depletion of deposits the 30 days. President said the was attributable to "hysteria."

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EIGHT NORTH CAROLINA BANKS FAIL TO OPEN

CHARLOTTE N. Car., Dec. 16 (AP) Eight North Carolina banks. four in the western part of the state and four in Gaston county either failed to open or closed their doors today.

Directors of the institutions in each case explained the action was taken as a precautionary measure for the protection depositors. Heavy withdrawals generally was given as the reason. The First National Bank of Gastonia, the largest of the eight had deposits of $3,066,072 Re sources were given as $4,656,067 The other three Gaston banks. the Gaston Loan and Trust Com pany of Gastonia, the Bank of Dallas and the Peoples Bank of West Gastonia were comparatively small institutions. Their combined deposits totalled $270,052.84. Clos ing of the bank of Franklin in Macon county left that town with out a financial institution.

The Pank of Swannonoa failed to open after withstanding runs yesterday. The bank of Fletcher in Henderson county closed in the

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NORTH CAROLINA IN FEAR OF RUNS

Action to Protect Depositors Follows "Heavy Withdrawals"

Charlotte, North Carolina banks, failed open closed their doors today. case explained action taken precautionary measure for the protection depositors. "Heavy withdrawals" generally the reason. The First National bank of Gastonia, the largest of the eight, deposits $3,066,072. Resources given $4,656,067. The other three Gaston banks, the Loan and Trust pany, Gastonia, Bank of Dallas and the Peoples West Gastonia comparatively small institutions. The combined deposits totaled Closing of the Bank of Franklin, that without financial institution. The bank's deposits were listed The Citizens bank, which merged with the Franklin last month, had deposits of $125,000.

The Bank Swannanoa with deposits $182,000 and the Bank $105,000 failed to open after withstanding The Bank of Fletcher closed in the face open and half. Its deposits were listed at $103,500.

INQUIRY IN NEW YORK Binghamton, af. Andrew president the State bank missing the doors the institution closed was the object inquiry today from The state banking department, searching out the amount shortage reported about $600,000. one of the investigators. Federal officers came uopn that was the supreme treasurer organizaand the officers that organization, the Greek Catholic union, rived to check their The exact shortage, state bank might not determinuntil early next week. Deposiwere largely laborers.

CLOSE ILLINOIS BANK III. the Pope County State bank conda for examination and adjustment was bank capitalized first this year the had total Loans total$244,286.79.

Paris, First Nationbank Kansas, failed to open its today. There the bank last Friday. president, did not issue statement. The bank capital stock $50,000.

Burled alive in rabbit hole near Box week, Irish terrier rescuers wagging tail.

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ELEVEN NORTH CAROLINA BANKS CLOSED TODAY

By Associated Leased Wire. Charlotte, Dec. banks in North Carolina closed Four banks in Gaston county, four in the area of North one in Cleveland county, one Johnson county and one in Bertie county shut their doors. The First National bank of Gastonia the largest of the eleven, with deposits of $3,066,072.

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one financial institution in this textile city of 20,000 population. The First National Bank and the Gaston Loan and Trust Gastonia, the Bank of Dallas and the People's Bank of West Gastonia blamed "heavy withdrawals' in notices saying they would not open. The National Bank, largest of the four, had $3,066,072 on deposit Sept 24; resources were listed at $4,656,067. Bank officials said $800,000 had been paid to depositors since Nov 20, when the National Bank of Asheville closed its doors. L. L. Jenkins, president of the Asheville bank, was vice president of the First National Bank and its largest single stockholder.

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BANK OF CLOVER, c, CLOSED ITS DOORS TODAY YORK, S C, Dec 16 (A. P.)-The Bank of Clover, York County, closed its doors today. Lee Robinson, president of the First National Bank of Gastonia, which failed to open this morning, is also president the Clover institution, which had resources of about $650,000.

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Salt Lake City and Charleston Banks Shut

SALT LAKE CITY The Columbia Trust Co. of this city was placed in the hands of the state bank ing department today. Frank B. Cook. president. said the board of directors requested the closing in order to pro"Total deposite are and total assets are $1,175,590.98. he said. adding that "every depositor will be paid in full."

W. Virginia Bank Shut state department of banking today announced the closing of the Bank of Hillsboro "to conserve ussets The bank on Sept. 24 had capital stock of $25,000. Its resources were $205,748.72 and its deposits $127,746.

4 Gastonia Banks Shut GASTONIAN N. Gaston county banks failed to open today. leaving only one financial institution in this textile city of 20.000 The First National bank and the Carton Loan First National bank. largest of the lour. had $3,066,072 on deposit Sept. 24. Resources were listed at $4,656,007.68.

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NORTH BANKS SUSPEND

Eight Closed by Directors; Heavy Withdrawals Given as Main Reason.

Charlotte, N. C., Dec. 16. North Carolina banks, four in the western part of the state and four in Gaston county, closed their doors today. Directors of the institutions in each explained the action was taken as measure for the of "Heavy withdrawals" generally was given as the reason. The First National Bank of Gastonia, the largest of the eight, had deposits of $3,066,072. Resources were given at $4,656,067. The other three Gaston banks, the Gaston Loan and Trust company, of Gostonia, the Bank Dallas and the Peoples Bank of West Gastonia small institutions. Closing of the Bank of Franklin, in Macon county, left that town without financial institution. The Bank of and the Bank of Clyde, failed to open after withstanding runs yesterday. The Bank of Fletcher, in Henderson county, closed in the face of heavy withdrawals after the remaining open an hour and half.

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Eight Institutions Are Closed Today

Charlotte, Dec. 16. (AP)Eight North Carolina banks, four in the Asheville area in the westTern part of the state, and four Gaston county, either failed to open or closed their doors today. Directors of the institutions said the action was taken for protection of depositors. "Heavy withdrawals" was referred to in practically every case.

The First National bank of Gastonia, largest of the eight, had deposits of $3,066,072.11 listed in its September 24th report. Resources were given as $4,656,067.68.

The other Gaston banks, the Gaston Loan & Trust Co., of Gastonia; the Bank of Dallas and the Peoples Bank, of West Gastonia, were comparatively small. Their

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CAROLINA BANK CLOSED.

York, S. C., December 16-(AP)The Bank of Clover, York County, closed its doors today. Lee Robinson, President of the First National Bank of Gastonia, which failed to open this morning, is also President of the Clover institution. The bank had resources of about $650,000.

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CAROLINA BANK CLOSED

York, S. C., December The Bank of Clover, York County, closed its doors today. J. Lee Robinson, President of the First National Bank of Gastonia, which failed to open this morning, is also President the Clover The bank resources of about $650,000.

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YORK COUNTY the request of Ben Farris, game warden elect York county, the York legislative delegation met in the grand room in court house here Friday afternoon State game warden's the appointment of RobFewell of Rock Hill game worden. The naming of uty game warden has been necessitated, by the reluctance of the chief warden's office to issue sion to Mr. Farris account of an leged lack of educational qualifications, The deputy game warden will without from the pay county forth the letter Farris to the which the delegation signed, asking that the pointment be made. The only change the delegation made in was asked to sign out the and insert words warden," Senator Campbell being the opinion that would require of the Legislature name clerk for Mr. Farris. This opinion not concurred in by sentative Bradford. but since the gation took the view that deputy game warden could the pected of clerk. there greement the delegation to whethas Mr. Farris' office assistant should known clerk deputy game warden. The deputy will be compensated for his services by Mr. Farris His bond will be the same as that the game warden. All the members of the delegation, Senator Campbell and Representatives Bradford, Dunlap, H. Hicks and attended the meeting Senator Campbell presided and Mr. chosen secretary. The only other matter presented to delegation concerning the appropriation for cross country roads on rural mail routes. and Fred members of the legislative of the York County Rural riers' asociation. explained the good sults accomplished by means of the propriation and requested that support the be continued.

Increased for York. Talk of increase mills the town tax levy, making mills, led meeting of the York town council with the York BusiMen's association, at which the financial affairs of the town discussed length and in detail. The outcome of the discussion was the pointment committee of five, headby the Noe. to study the council and try means for increasing the of the town without resort to raising the levy. an alternative way to raising the money without interfering with the tax levy, Mayor W. Morton suggested sewer tax and sprinkler warehouses and cotton mills. read financial statement in which shown that decreased revenue of the town the of town property. The assessed valuation has decreased $129,082 from 1925 from to levy raised 1896 from but the added revenue no longer sufficient to take care of the

York to Seek Soldier Hospital. York will make an effort secure the United States government hospital that may be erected part of the country before Decision last meeting York Business Men's association and committee appointed work with other committees of the town help bring about the desired result. Mayor Morton was asked to call citizen's meeting some time between January matter will be presented to the people

Clover Bank Closes Doors. The Bank of Clover, capitalized $30,000 and assets totaling failed to open its doors Tuesday morning and notice posted the information that this step was taken for protection the depositors taken in apprehension, said, "run" the bank the result the failure the First tional bank Gastonia. the president which, Lee Robinson, president the Clover bank. be the general belief the part sons thta the Clover bank solvent and that will closing the only temporary.

Drunk Driving Charge for Benediet. Keyes Hickory, didn't pathway strewn flowers when Corner" married. the marriage handled