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BANK IS CLOSED. Comptroller of the Currency Finds It to Be Insolvent. Washington, May 26.-The First National bank of Barberton, Ohio, has been ordered closed by the comptroller of the currency on the ground that the bank is insolvent. The capital stock is $50,000. National Bank Examiner George T. Cutts has been appointed receiver.
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IS IT TO BE A PANIC? / Banks Throughout Country Failing With Alarming RegularityLatest Is In Ohio. Washington, May 26.-The First National Bank of Barberton, Ohio, has been closed by the comptroller of the currency on the ground that the bank is insolvent, The capital stock was $50,000. Carried Much Doubtful Paper. Barberton, Ohio, May 26.-The First National Bank of Barberton was closed on the recommendation of National Bank Examiner Albertson, who found between $40,000 and $50,000 worth of doubtful paper, consisting mostly of long time notes, which it is claimed were carried contrary to the National Banking laws. Much of this paper was against the Barberton Pottery Company, which went into bankruptcy this week.
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ANOTHER BANK FAILS. First National of Barberton, Ohio, Closed Up Today-Receiver Appointed. Washington, May 26.-The First National Bank of Barberton, Ohio, closed today, and National Bank Examiner Cutts was appointed as receiver.
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BARBERTON, 0., NATIONAL BANK IS INSOLVENT Washington, May 26.-The First National bank of Barberton, Ohio, has been ordered closed by the comptroller of the currency, on the ground that the bank is insolvent. The capital stock is $50,000. National Bank Examiner George T. Cutts has been appointed receiver. The last report of condition of the bank made to the comptroller of the currency on March 14, 1905, gave the resources as $324,366, the loans and discounts being $212,692. The capital stock was $50,000 and deposits $204,700.
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ANO THER BANK. Comptroller Says It is Insolvent and Ordered It Closed. Washington, May 26.-The First National bank of Barberton, O., has been ordered closed by the comptroller of the currency on the ground that the bank is insolvent. The capital stock is $80,000. National Bank Examiner George T. Cutts has been appointed receiver. The last report of the condition of the bank made to the comptroller of the currency on March 14, 1905, gave the secources as $324,366, the loans and discounts being $212,602. The capital stock was $50,000, and deposits $204,700.
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Barberton, O., Nat'l Bank Closed. Washington May 26.-The First Na. tional bank of Barberton, O., has been ordered closed by the comptroller of the currency on the ground that the bank is insolvent. The capital stock is $50,000. National Bank Examiner George T. Cutts has been appointed receiver,
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NATIONAL BANK SUSPENDS. Institution at Barberton, O., Closed by Comptroller of Currency. Washington, May 27.-The First National bank of Barberton, O., has been ordered closed by the comptroller of the currency on the ground that the bank is insolvent. The capital stock is $50,000. Barberton, O., May 27.-Frederick Keifer. Jr., president of the First National bank of Barberton, which closed its doors during the day, stated that the reason of the suspension was that the national bank examiner in going over the assets of the bank found several notes that he would not accept as constituting good loans and refused to allow them to go into the report as assets. He was not prepared to make any definite statement as to the liabilities and assets.
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NATIONAL BANK SUSPENDS. Institution at Barberton, O., Closed by Comptroller of Currency. Washington, May 27.-The First National bank of Barberton, O., has been ordered closed by the comptroller of the currency on the ground that the bank is insolvent. The capital stock is $50,000. Barberton, O., May 27.-Frederick Keifer. Jr., president of the First National bank of Barberton, which closed its doors during the day, stated that the reason of the suspension was that the national bank examiner in going over the assets of the bank found several notes that he would not accept as constituting good loans and refused to allow them to go into the report as assets. He was not prepared to make any definite statement as to the liabilities and assets.
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Barberton, O., May 27.-Frederick Keifer, Jr., president of the First National bank of Barberton, which closed its doors during the day, stated that the reason of the suspension was that the national bank examiner in going over the assets of the bank found several notes that he would not accept as constituting good loans and refused to allow them to go into the report as assets. He was not prepared to make any definite statement as to the liabilities and assets.
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OHIO BANK ORDERED TO CLOSE ITS DOORS By Associated Press. WASHINGTON, May 26.-The First National bank of Barberton, Ohio, has been ordered closed by the comptroller of the currency on the ground that the bank is insolvent. The capital stock is $50,000. National Bank Examiner George T. Cutts has been appointed receiver.
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Bank Closes Its Doors. Barberton, O., May 27.-Frederick Keifer, Jr., president of the First National bank of Barberton, which has closed its doors, stated that the reason of the suspension was that the national bank examiner in going over the assets of the bank found several notes that he would not accept as constituting good loans and refused to allow them to go into the report as assets. This compelled the institution to close its doors, he stated, but he was not prepared to make any definite statement as to the liabilities and assets. The officers of the bank are Fred Keifer. Jr., president; Dr. A. E. Belford, vice president, and H. C. Benner, cashier.
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OHIO BANK CLOSED. Receiver Appointed for Barberton Institution for Violating the Banking Laws. Barberton, O., May 27.-The First national bank of Barberton was closed Friday on the recommendation of W. F. Albertson, national bank examiner, who found between $40,000 and $50,000 doubtful paper consisting mostly of long time notes, which it is claimed was carried contrary to the national bank laws. Much of this paper was against the Barberton Pottery company, which went into bankruptcy this week. A. plan was on foot to merge the bank with the Barberton Savings Bank company, and O. C. Barber, the match magnate, had made an offer to take over the bank's affairs, but this, it is said, was rejected. The former deal is still on, however, and may go through yet, the bank being absorbed by the Barberton Savings Bank company. The bank was capitalized at $50,000 and had deposits and accounts amounting to $220,000. National Bank Examiner George T. Cutts has been appointed receiver. The officers of the bank are: Fred Keifer, Jr., president; Dr. A. E. Belford, vice president, and H. O. Benner, cashier.
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Barberton Bank Closed. The First National Bank of Barberton, O., was closed by direction of the controller of the currency upon the report of National Bank Examiner Walter F. Albertson, showing insolvency, and National Bank Examiner George T. Cutts has been appointed receiver. The last report of condition of the bank, made March 14, 1905, shows resources and liabilities of $324,366.27 each.
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OHIO BANK CLOSED. Receiver Appointed for Barberton Institution for Violating the Banking Laws. Barberton, O., May 27.-The First national bank of Barberton was closed Friday on the recommendation of W. F. Albertson. national bank examiner, who found between $40,000 and $50,000 doubtful paper consisting mostly of long time notes, which it is claimed was carried contrary to the national bank laws. Much of this paper was against the Barberton Pottery company, which wen: into bankruptcy this week. A plan was on foot to merge the bank with the Barberton Savings Bank company, and O. C. Barber, the match magnate, had made an offer to take over the bank's affairs, but this, It is said, was rejected. The former deal is still on, however, and may go through yet, the bank being absorbed by the Barberton Savings Bank company. The bank was capitalized at $50,000 and had deposits and accounts amounting to $220,000. National Bank Examiner George T. Cutts has been appointed receiver. The officers of the bank are: Fred Keifer, Jr., president; Dr. A. E. Belford, vice president, and H. O. Benner, cashier.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank falls. 26-Barberton, O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, III., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (I11.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National, Home Savingsand Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, M h., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank. Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Chicago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co. Saulte St Marie, Mich. : liabilities $85,000; assets $65, 000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. -Ladoga, Ind., bank; assets $80,000 liabilities $109,000. 24-Canton, O. state bank closes Lexing. ton Okla., First national bank falls, 26-Barberton O., First national bank Jun, -Ladysmith, Wis., First national bank closed. 9-Fyfe & Munson, Chicago, placed in re celver's hands, 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly H Co., Chicago, 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, III., and Toluea, III., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes, 20-City national bank Kansas City, Mo. Aug 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky: due tc overloans. Sep. 19-Minot, B. D., national bank closes doors. Oct, 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency,
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000.000. 29-Pan-American bank. Chicago: assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. Apr. 3-Ladoga, Ind., bank; assets $80,000. liabilities $109,000. 26-Barberton. O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 26-Knight, Donnelly & Co., Chicago. Jul. 5-Spring Valley, Ill., and Toluca, III., national banks close. 6-Hagerstown, Ind., Commercial bank: liabilities. $125,000. Aug. 3-West Liberty, Ky., bank closes. Sep. 19-Minot. S. D., national bank closes doors. Oct. C-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National. Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of 826,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank. Memphis, Tenn., close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, cap!tal $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7--Coe Co., Minneapolis; liabilities, $200,000. Apr. 3--Ladoga, Ind., bank; assets $80,000. liabilities $109,000. Lexing24-Canton, O., state bank closes ton, Okla., First national bank falls. 26-Barberton O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed 19-Fyf fe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, III. national banks close. 6-Hagerstown Ind., Commercial bank; llabilities, $125,000. 19-Spring Valley, O., bank closes, 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky, bank closes. 21-Western bank Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency, Dec. 18-John R. Walsh's three banks in Ch cago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and privateaccounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank. Memphis, Tenn., close doors; first named in liquidation.