Deseret Evening News | 1908-01-31 | Page 2 | Oriental Bank Failed to Open Today

ORIENTAL BANK FAILED TO OPEN TODAY New ew York ork Jun Jumi 31 The Oriental hank bank nn on which a It run of ot started yesterday esterday did ld not open for Cor business today loda A notice was Va posted on an the doom an announcing that the bank was closed by b order ardor of or the tho state superintendent su of af banks bank The Thie Oriental Is a II state bank having havinga a n capital stock of Accord AccordIng lag Ing jn to its He last statement It owed to individual depositors and to banks bankers and l brokers 22 It hits has a 8 surplus f I fund unit und of 91 and undivided profits of ot 47 Twelve of af tho tIme leading financial In Institutions I of tho city volunteered s to as tho the distressed e Institution Ion tion to 10 the lie extent of ot In cash provided tho tIle directors would be become mimic come individually responsible for tor the tile luau loan The majority of oC the tho directors agreed to this but there thelo worn sonic some among their number who wore Ole unable to In do so and Imd the thc plan idun failed The Tho dl Ii rectors at a n meeting this morning de le decided lo to place the affairs of tho the batik bank bankin in the lie hands bunds of at the state banking de tie department Charles B E I Lovy Lov ono one of ot the tho directors announced that nono none of CL the depositors would suffer any all loss In Inconsequence consequence ot of Its closing