U.S. BANK MAY CLOSE OWING TO ROBBERIES

Grey River Argus, 24 February 1949, Page 5

U.S. BANK MAY CLOSE OWING TO ROBBERIES

(Rec 5.35) NEW YORK, Feb 22. . The State Bank at Virgil, in Illinois has been robbed by hold-up men three times in the past four months. The bank has now decided to give up. The directors to-day called a meeting of the stockholders for Thursday, to vote on a proposal for liquidation of the bank. The directors said that the reason was the reecnt succession of robberies and the necessity of continued outlays for protection. These have included a burglar alarm system and an armed guard, who holds the front door at all times. The. customers must convince him of their legitimate business before they can enter. Bandits robbgd the bank of 4090 dollars on October 20; of 2000 dollars on November 13, and of 1917 dollars on January 14. The directors said that the bank was solvent and that arrangements are now being made to refund and to liquidate the notes held at the bank. . Virgil is about 48 miles west of Chicago ,and if has a population of less than 500 people.