Bank at Dover Fails

The Citizens Bank of Dover, Mason county, made an assignment Monday to J. Elgin Anderson.  No schedule of liabilities or assets was filed.  This bank was an adjunct, it is claimed, of the late Aberdeen, O. bank, both having been started by the late banker A. D. Fawcett, and the failure of the Dover Bank is due to the closing of the Bank at Aberdeen.

 After the bank had closed, a woman of Dover who had a nice sum on deposit there, went to the bank, and seeing one of the officers, demanded her money, saying if she did not get it she would blow the institution up.  Samuel B. Frazee was president, W. B. Rist, son of the receiver of the Aberdeen Bank, was Cashier.  The capital stock paid in was $7500 and the deposits were $7000.  This leaves seven banks in Mason county, all of which are among the strongest in the state.

 At the meeting of the directors it was discovered that neither a single piece of paper nor a cent of money was in the safe.

 This bank was organized about six years ago.  Prof. Frye, of Butler, was elected as its first cashier.


From the Falmouth Outlook, June 26, 1908.