Salt Lake Telegram | 1924-01-19 | Page 6 | Two Midwest Banks Closed

TO National Concern in Nebraska Nebraska Ne Ne- braska Fails GRAND ISLAND Neb Jan 19 The The Grand Grand' Island National bank oldest banking institution in the city olty failed to pen open Its doors tills this morning Its capital stock was with a surplus ot of At the time of its last statement December 31 Its loans totaled 1 with total deposits of 1 Frozen pap paper r and recent death of Its president C. C J. J Miles are attributed as the main causes as much stock Is in the hands of the Miles estate and it has been difficult to perfect a working or organization or- or It was It-was waa said DECORAH Iowa Jan 19 The The Citizens Citizens' Savings bank here was closed cl today officers explaining th that at the institution was interested in several South Dakota banks banks- th that at had failed and it was desired to examine the local banks bank's books I b before further business was pei- pei m The officers said they b believed the banks bank's condition was wa I n not ot impaired WASHINGTON Jan 19 Fed Fed Federal o eral ral agencies in the midst of an e effort to relieve the credit strain a among mong the banks in the Northwest w were ere advised that the Grand Island wN N National bank at Grand Island N Neb ob had closed its doors Controller Controller- Dawes received a telegram tele tele- g gram ram from Chief Examiner Robertson Roberton Robert Robert- S son on of the Tenth federal reserve d district saying saying- the institution had hadeen b been een closed but giving no details Officials of the reserve board re reiterated re- re I iterated today their belief that s sufficient credit could be made a available to over such banks a as s are suffering from the unavailability b of cash cashon on Northwestern ag agricultural ag- ag r loans It was said definitely deft deft- n that banks in Chicago the t win twin cities and Kansas City were r ready eady to offer any assistance within with with- i in n their power