The Universal State Bank, formerly the A. Olszewski Bank, has been completely organized, and has been granted a state charter.

The stockholders of the new bank held a meeting on Thursday, January 11, at which the following directors were elected: Anton Olszewski, John I. Bagdziunas, Frank J. Palt, Joseph J. Elias, Michael J. Kiras, Arnold H. Brautigan, James P. Doody, Stephen Vilimovitz, Joseph J. Krasowski, Dr. James Zulis, Otto H. Butler, Michael Swiontkowski, Felix Lukaszewski, Lawrence Azukas, and Vincent Rutkauskas. All but six of these directors are Lithuanians.

The directors are now making the necessary preparations to open the new bank as soon as possible, and it is believed that the doors will be open for business the latter part of this month.