Show bank fails philadelphia dec 22 the chestnut street national bank did not open its boora tor business busi nees thi morning A notice posted on the door read as lol lowe the chestnut national bank is cloteil for iain the banda ot the national bank examiner issued WILLIAM A examiner A crowd cf depositors gathered but there was u special excitement the bank has bad a bood reputation but it hue been known for acme dirae that ite business aud its profile have falen off considerably ahe eunen bion was a areat surprise especially in view of the high 0 its william M singerly 1 te president and leaah cooper vice the bank was in 1887 on a capital ot with robert JE pattison as president when the latter took his icat as governor Ko vernor of pennsylvania n 1891 mr Bin gerly succeeded him as of the bank eta lement of the banks liabilities could be obtained this morning alie street trust and sav luge fund co ets of which are identical with those of the bank was also clo ed for today bat to bat extent the trust company Is in evolved in the banks affairs has not yet been announced the bank wae a city depository and there were city funds in the bank to the amount of the kate of pennsylvania had on depuit december 1 dec 23 sir echele comptroller of the currency said today in regard to the of the chestnut street national bank of philadelphia that the was primarily due to the in the value of the bonds and notes of the pulp and paper mille located it elkton md when the pulp and paper mills securities were taken by the bank they were regarded as first blage but since that t me paper has alien in price from 10 cents a pound to leas than 2 cents and the securities bavo decreased in proportion mr eckels said that was not the least suspicion of an addina on the pan of the bank and h stilt had arjantine arr antine tor the lolon uronie liquidation of the banke affire without lary the expense to the appointment ol 01 a receiver mr the belief that the bank would pay every dollar it owe the philadelphia Record which is owned bv president singerly sir eckles said valuable about Is a very per cent annually on about |