Every evening, Wilmington daily commercial., 1922-01-21
SECOND NATIONAL
BANK Of ELKTON
SHUT TEMPORARILY
Nssuk OF a Run Said TO Have
Been Due to oroundlsss
Rumors.
EXAMINER IS IN CHARGE
sreelsl dispatch TO Ever, Evening

F'H'"ni W., JIM, 'i.'~' HANK Close,
", u'der ~ the BOARD of Directors
The National Rank Examiner Ha,
1Hhrn 'harxr. 9. A. stewart. Natione
Hank Examiner"
'hr announcement is the only thins
'hNi indicates thar the second Ma.
'"nHl l'nnk ~ Elkton has closed A..
'""'ri There were ycr, few drpoa,tors
~ the hank this morning seeking
ih"f deposits The national hank cx.
rmln.f and his stan are making nm
'SnniWilon ~ the hooks
fhc hank VIII be reorsaniscd and
'""r"ned IN short time" ", r. War.
hhfi"h. president of the hank, told a
representative ~ Every Evening thi.
AFTERNOON, we expect 10 compiet,
~" rlnn ~ the synaicat. formation or
Monday, From present Indications
f"ll'winx this mornings confcrenc,
Win persons Interested the hank will
v" r'orcnrd hv rrldr or saturday
~ ncst week."
lie declared tho run on the bank
Yesterday came upon them like nash
ana That they, had NO opportunity IN
provide the necessary cash lie es-
rlnin.d that some locai people are In
me reorganization 20 the hank, Mr.
W"rhu''cn Expressed appreciation of
'hs friendshlr shown In the reorgsni-
sNtion plans and the EFFORTS being
made ~ have the bank rccpcned.
William Schectrr. chief hank exam
inef fot IN" nurcau Of Currency. ar
'iNvd here this morning
malicious rumor without the
A'sh'cs, Foundation ON facts. that the
Second National bank ~ Ell,on was
IN financial dif,cultie.. Is attributed
Wy William r Warhurion, president
"f tho Institution, as the cause of the
run on tho bank Yesterday. This
su,,or had been circulating FOR sew
tral dn,s and when the bank opened
~ usual Yesterday morning dcrositors
began ~ ,om. fir.t singly, thch hy
tvus and threes. drawing checks for
then balances
its said that by : o'clock a stream
cf people withdrawing accounts Ind
assumed the proportions ~ a run on
the hank, snd he ordered the cashier,
a Ha, Johnson. ~ Aberdeen. Nd. TO
slose the doors. "pur action was vol
Nn'stt." said Mr.. wsrhurton We
were not instvust~d TO close our dcors.
We saw whrt MAS coming and after
sinsins, teleGrarh~d the controller Of
currency In Washington.
our assN's are ample" he went on,
"snt No one Viii lose penny. All
cf our dercsi,ors viii be paid dollar
Tor dollar. md our doors will Ne open
sd Tor business In \ few DAYS"
1h~r. are three banks In Elston.
ths third bcins the Elk,on Trust Co.
which opened few year. ago The
Second National Rank was established
IN 'sss Mr.. wsrburton has been
president slnco that time. The hank
II csriisli,cd at $4,000. with n sur
plus ~ shcui t2g .ooo.
l'~posl,ors of the hank. when talk ed
a. today. .e.mod little concerned about
ihsir money. and felt that they would
no, lose my ~ their savings.
Tho condition ~ the bank a. re-
ported In tho las, statement. follovs:
! second national hank
RESOURCES.
lsons and discounts s23s p44 "a
Note. and r'lls rrliscountcd <o.soo.5r
ssl4oss7s
p,rfirsf's unsecured . 2lees "a
bonds d.post~d tn
.ear, e fculo,Ion ...,..... i2.soo.oo
Al uinsf tni'ri states gov
"rnfnenf securities ROOD. n. 500 90
',h~t '"nds. stocks s~curi-
trs etc lac aaQ Do
Rsns,ns hous farni,ur, and
IA~fll r~.-r,. With F,sirral
r~e~t,. hanh ........ s,b3S 40
tssh IN vault and net amount
lu, from national hsnss io.oe7To
t'hss-ts IN u'hef banks IN
the ~'ns city of town n
Exporting hank .... i,026.fs
tbshs nn hnnts located out
ude ~ ri', or town ~ re-
i-t'ins hank and other
: cash i,~Us h2s 10
Redemption fund With 4
treasurer and due from I.
= tr~asur"f ...iti..s..,,.... o2tDo
Total .i....a..,...... s..... a4i3.7ii 20
LIABILITIES
Capital stock paid IN ... $4,000 90
Surplus fund ............ 100000
thhi,i1"d pronr II ,6ss.s2
Circulating notes outstsnd-
Assoun, dae to Federal re- ~
Net amounts due to hanks
tsauk~ts and trust CON.
paule~ IN tAc n,..d States
ssd lorrlen coun,rie. 5000 90
t~stin~i rMvks outstanding 1921
taahisrs rhecks on own
'ANt standing ......... 1900
'o check ............ la5. III 02
Ter tthratcs uf deposit due ia
Ices than 40 days .......... "a S3a 20
utVtdsxsds unpaid ...... .... 27s So
t~s,incat~s ~ deposit lo,h.r
then for money borrow
~ Va. 5000. !. ..s...... ~ .os2 55
Hills payable other than
wish F~ierAl RcserN
Hank ,.n.as,t...,............., 20 900 90
To'Ai ..a,,,,,.,,,............ ssi3. .7ll 40