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CITY WITHOUT BANK Miss., Jan. This city was left without bank today following the closing of the First National bank here yesterday heavy developed. Previously the Bank of Pontotoc was closed. The First National had deposits of with capital and
Affairs of New York Bank "Scrambled." NEW YORK, Jan. 2—(AP) The intermingled financial affairs of four subsidiary corporations of the closed Bank of United States were described today as a "corporation omelet" at a bankruptcy hearing on the affairs of the corporations. Carl J. Austrian, representative at the hearings for Joseph E. Broderick, state superintendent of banks who closed the institution last Dec. 11, offered this comment on the situation after Saul Singer, vice-president and chairman of the bank's executive committee, testified on the financial structure of the four companies. Singer declared all four were solvent. The subsidiaries, which went into bankruptcy last Wednesday, are the Bankus Corporation of New York, the City Financial Corporation, the Municipal Financial Corporation and the Delaware Bankus Corporation. After long and involved testimony, counsel for the receiver asked Singer, "If a man had 100 shares of City Financial he then received 56 units, each unit made up of one share of Bankus Corporation and one share of Bank of United States. Is that right?" "Yes, that's right," the witness replied. In response to a question as to how much had been raised for the corporations from the public, Singer said $33,500,000 had been raised and then an additional $14,700,000 had been borrowed, making a total of $48,200,000. Mississippi Banks Close. JACKSON, Miss., Jan. 2—(AP) Withdrawals by depositors today was given as the reason for the closing of five Mississippi banks taken over by state and Federal departments. The closed banks were the First National Bank of Pontotoc, with deposits of $600,000 and capital stock of $125,000; Bank of Pontotoc, deposits $534,000 and capital stock $100,000; Citizens' Bank at Winona, deposits $260,000 and capital $25,000; Bank of Blue Mountain with deposits of $179,000 and capital $10,000; Bank of Derma with deposits of $50,000 and $10,000 capital. Arkansas Banks Reopen. LITTLE ROCK, Ark., Jan. 2—(AP) State Banking Commissioner Walter E. Taylor announced the reopening of three banks today. Those reopening are: The Eudora Bank as successor to the closed Eudora Bank and Trust Company at Eudora; the Bank of Salem at Salem and the Farmers' Bank at Casa. Alabama Bank Closed. MONTGOMERY, Ala., Jan. 2—(AP) Dent F. Green, state superintendent of banks, announced late today the People's Bank of Gilbertown had closed. Capital stock was listed at $15,000 with a surplus of $3000. Deposits on Nov. 20, 1930, were $61,880.
Van Buren County Bank Reopens for Business CLINTON ARK., Jan. (UP)The Van Buren County bank here resumed business today after agending for five days for readjustment of its affairs. The bank deposits of WASHINGTON ARK., Jan. Washington State bank at Washington closed Its doors today under the five day suspension provision of the state banking The institution was capitalized $25.000 and had deposits of $46,437 PONTOTOC. MISS., Jan. (UP) city was left without bank today following the closing of the First National bank yesterday after heavy run. Previously the Bank of Pontotec was closed.
LOCAL MARKETS Butter, and Ess Co.) candled colored Leghorn colored (up to lbs.) Stags lbs. Roosters Ducks 10c Butter Fruits and Vegetables. Quota Co. 88 Arkansas Blacks. 138 Rome Beauty fancy, bushels bushels Flemish extra fancy 2.75 Beauty, fancy. 110-120-135s extra Oranges. 126 Oranges, bushels Oranges. special Cranberries. Rhubarb. Canadian. 100 Tomatoes. Fla crate Cabbage. per 100 Brown Beauty 100 lbs. 100 round sweet. per bushel Onions. pounds Parsley dozen Lettuce dozen dozen Bank Suspensions. JACKSON. Miss., Jan. 2 (AP) Withdrawals by depositors today caused five Mississippi banks to close their doors. Combined deposits affected in the national bank, approximated The closed were the First National Bank of Pontotoc, deposits of $600,000 and capital stock of $125,000 Bank of Pontotoc, deposits. $534.000 and capital stock, $100,000; zens bank. deposits, $260.000 and capital $25,000; Bank of Blue with deposits of $179,000 and capital, Bank of Derma, with deposits of $50,000 and $10,000 capital. LITTLE ROCK, Ark., Jan. (AP) State Banking Walter E. ylor announce today the reopening of three banks. closing of one and suspension of another Those reopening were the Eudora bank as successor the closed Eudora Bank and Trust company, at Eudora: Bank of Salem. reorganized at Salem, and the Farmers bank, at Closing of the Interstate National bank at and suspension for five days of the Bank of Marvell, at Marvell. left Phillips county without a banking institution. MONTGOMERY, Ala., Jan. 2 (AP) Dent Green, of banks. announc late today that the Peoples bank, of had its doors. Supt. Green was informed by President W. Rudder that bank been today upon approval of the board of directors, asked that state banking department take over the firm's affairs. Capital stock was listed at $15,000, with surplus of Deposits on Nov. 20, 1930, were $61,880. Supt. Green attributed the bank's