Show ANOTHER BANK FAILS Johnson Embezzlement Breaks Merchants Mer-chants Bank of Duluth Being the Fourth to Fail Dululh Minn Aug HThe alleged embezzlement of 515000 of the funds of the Commercial Banking company for which E E Johnson a trusted clerk of the bank Is under arrest today brought about the failure of the Merchants bank of Duluth President Smith said that the failure was duo to a run on the bank resulting from the closing of the commercial Institution He said that he could not anticipate the extent of the withdrawal and closed to protect all depositors as much as possible This is the fourth bank to suspend as a result I re-sult of the alleged embezzlement |