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Show IfWRECKEB BY A THIEF, 35 2 fSpduco Exchange Bank of Cleve-ifmd, Cleve-ifmd, O., Forced to Close Doors Because of Defalcation. !evcland, 0., Jan. 22. The Produce hange Banking company, corner idway and Central avenue, . closed loors today. The insolvency court appointed the Cleveland Trust corns' corn-s' as receivers. The assets and Hales Ha-les of the bank are placed at 0,000. lomey Andrew Squire, on behalf he bank, mnde the following state-t state-t this afternoon: "There is a de-ition de-ition of 5170.000, which is more than BW pald-ln capital and wirphis com-jj com-jj eL The original capital was $200,- ,y.but only $50 per share was paid in. r;i e depositors will be protected fully. Li fe stockholders will have to pay in i 2,00 ,nore or their capital stock and I O.0C0 in stockholders' liabilities. ' IThc directors worked ail day trv-fj. trv-fj. Wo make up the deficiency, but the 'y rden wa3 too heavy and they decided fe Xlosc the bank. r or many years the defaulting ofll-l ofll-l 1 has been speculating in Chicago I Hn He covered his peculations by I (nipulating the bank's loan account. E XVplunLarlly confessed yesterdav. LV'IH be taken into custody this a'f- ;noon. The directors know where he I t ig announced that branches of the (qduce Exchange bank of Defiance, MpdEon and Bedford. O.. will be closed gfonce as a result of the failure. |