Rensselaer Semi-Weekly Republican, Volume 20, Number 16, Rensselaer, Jasper County, 28 October 1898 — BANK DOORS CLOSED. [ARTICLE]

BANK DOORS CLOSED.

German National of Pittaburg Goes Into Liquidation. The German National Bank of Pittsburg has closed its doors. The directors, in a public statement, announce that the bank is solvent aud that all depositors will be paid in full. The suspension of the bank can be traced directly to two causes —the carrying of too many securities of the Natalie Coal and Coke Company and heavy loans to Charles Burkdorf, until recently cashier, and Adolphus Groetzinger, the present president, on insufficient collateral. The suspension of the bank was precipitated by the confession on Monday last of Adolphus, William C. and O. H. Groetzinger and A. Groetzinger & Sons to Edward Groetzinger of judgments aggregating $490,725.42.