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Show THREE INSTITUTIONS II MEMPHIS CLOSE Allied Hanks ami Trusl Company Com-pany to Liquidate; Loans Too fleavy. MEMPHIS, Tenn., Dec. 27 Three Institutions In-stitutions failed to open Ihtlr tloor for business today. The Merchants' Trust company, with a capital stock of $200,-ooo, $200,-ooo, the Ajpnerlcan Savings Blank and Ti ust company, and the Mechanics' Savings bank, smaller Institutions allied al-lied with the first-named eoneern. have gone into liquidation The following notice was posted on the doors of the Merchants,' Trust company com-pany : 'This bank Is elosed by order of the board of directors and will go into niui- uatlon. "FELIX T POPE, President." Another notice- reads. "This bank has gone Into liquidation, John P EdmondSOO has been appointed appoint-ed receiver." Overloans on Discounts. The cause Of the suspension of the Merchants Trust company 'a ahi to havf b.-en . .v ei I. a us on .lisiounls Olio of the directors said to a representative or the Associated Press that 1 1 1 - three Institutions had ample assets and would pay dollar for dullur. When tho officers of the Merchants' Trust company decided to suspend business; busi-ness; Chancellor Heiskell was ask'-.i t.. appoint a receiver for- the Institution, and nomed John P. Ed:nondson, a Memphis lawyer ' The Merchants' Trust company re-centl re-centl absorbed the Memphis National bank. and. It is stated, owns the controlling con-trolling stock of the American Savings Bank and Trust company. The latter Institution has practically absorbed th Mechanics' Savings bank The suspension of the three Institutions Institu-tions caused little excitement in financial finan-cial circles. What They Owe Depositors NEW YORK. Dec. 27. According to a n cent statement the Merchants' Trust c rnpany of M'-niphis. T. i.n.. owed depositors de-positors $i'.0j,000 The Ann ei, an Savings Bank and Trust company owed deposlt-"i deposlt-"i s : |