bc70457cd7a42d72None
Click image to open full size in new tab
$200,000 DEFICIT OF BANK TO BE PAID BY SHAREHOLDERS Controller of the Currency Crissinger has ordered the federal receiver for the Commercial National Bank at Wilmington, N. C., to levy an assessment of 100 per cent on the shareholders of that institution which recently closed its doors. The assessment means that the shareholders of the defunct bank must make good $200,000. the amount of the capital, in addition to the loss of the value of the shares they held.
Click image to open full size in new tab
rison a member of the state board of health to succeed Charles E. Waddell. Raleigh.-William Bethune, state college student, waives preliminary hearing in city court on a charge of manslaughter growing out of an automobile collision, when Robert Chappell was killed, and is released on $1,000 bond. Lenoir.-Official confirmation lack ing of reports that the Southern Power company intends to develop a hydro-electric project near Rhod hiss. Engineers are said to be making surveys. Raleigh.-Sheriff Lewis is "out of luck" all because he sent A check for $52.25 to the wrong department at Raleigh in payment of Brunswick ccunty taxes, and a Southport bank failed before the check was cashed Greensboro.-Police officers find Frank Falconer, 65, on the side walk, where he had been placed by passers-by. after being run over by an automobile. His injuries are serious. Charlotte.-Officials of Oasis tem ple of the Shrine announce the spring ceremonial, May 24, at Gastonia. Statesville.-Edgar M. Hallyburton, first American soldier to be captured by the Germans in the World war, is fined $150 in federal court here on charges grow ing out of his arrest with a companion while they were in possession of forty gallons of whisky. Raleigh.-Dr. E. C. Brooks, superintendent of public instruction has available for one qualified 1923 high school graduate a four-year scholarship to the Colorado School of Mines. Greensboro. - Students, faculty, trustees and friends of Greensboro college participate in Founders' day exercises, hearing address of Rev. W. A. Lambeth. of Gastonia. Wilmington.-T Italian steamship Ansaldo VII sails for Genoa with a cargo of 15,000 bales of cotton valued at $2,500,000, consigned by Alexander Sprunt & Sons, Inc. Hickory-Dr. Rufus B. Perry, professor of philosophy at Lenoir college, will deliver the baccalaureate sermon May 27 at State college, at Raleigh. Wake Forest-H. Z. Holmes, member of the 1921 law class at Wake Forest college, leaves for England and Ireland to investigate certain claims of heirs in this country to New York property valuued at $300,000,000. Wilmington-Shipments of ber ries from the Chadbourn section this season will be about 400 carloads and about 1,200 carloads from points on the Weldon-Wilmington branch of the A. C. L. Ry., according to railway officials. Jackson Springs-Failure of the peach crop results in large increases in cotton and tobacco acreage in this section. Wilson-Police Chief Lewis, of Middlesex, is wounded by a negro whom the officer slightly wounds in attempt "to arrest the negro, discovered rifling a mail pouch. Jackson Springs-Mrs. J. G. Cole will recover but lose use of an arm as a result of blood poisoning. Raleigh-Reuben Gunter, negro preacher, vindicated in city court of bootlegging while members of his congregation applaud, starts from the court with his liquor but it is retained by officials pending a study of the law. Greensboro-Report of the recent sale of the Carolina and Yadkin railroad by L. M. Cole, commissioner, to O. A. Kirkman and associates for $125,000, is filed in superior court. Charlotte-William F. Buchanan, former leader in local politics, dies after an illness of a year. Wilmington-Fifty 100-pound bags of sugar reported stolen from Clyde Line terminals here are recovered by the police and seven white men are charged with aiding in larceny. Elon College.-Miss Alice Webber, of Morganton, is elected president of the college student body. Raleigh.-Legal action is held by state officials to be necessary if the state recovers $25,000 deposited by the state treasurer in the Commercial National bank, at Wilming ton, which recently was closed. Greensboro-A: L. Brooks, representing city council n the litigation over the Southern railway passenger station bond issue, leaves for Washington to confer with the railways' counsel relative to the effort of local attorneys to restrain the city from issuing the bonds in the amount of $1,300,000, authorized in 1922 for a loan to the railway. Wilmington-S. F. Highsmith is advised by the treasury department of the abolition of the office of chief deputy collector of customs here, and of his promotion to assistant collector for the district which includes the state. Raleigh-Secretary of State Everett is to send Chief Clerk Sawyer to Michigan to study that state's automobile license law operation preparatory to the enforcement, beginning October 1, of the similar, newly enacted law of this state
Click image to open full size in new tab
U.S. WILL CALL LAST WITNESS IN COOPER TRIAL ON MONDAY WILMINGTON, N. C., Feb. 9.-(By the Associated Press.)-Testimony today in the trial of Lieutenant Governor W. B. Cooper and Thomas E. Cooper, in federal district court, ending the first week of the hearing, paved the way for the appearance Monday of the government's final witness, by which the prosecution will seek to prove its charge that the Cooper brothers conspired in alleged violations of the national banking laws and to embezzle and misapply funds of the Commercial National Bank of Wilmington, of which they were respectively chairman of the board of directors and president. H. R. Tull, agent of the federal department of justice, is the witness upon whom the prosecution is depending to link up the vast quan tity of evidence already introduced. Investigations made by Tull, after the closing of the bank, led to the arrest of the defendants and of Horace C. Cooper, cashier of the defunct bank, and son of the lieutenant governor, and Clyde W. Lassiter, who are also under indictment. For the first time since the trial started, the prosecution placed on the stand a depositor who testified to having "lost everything" in the failure of the bank. She was Mrs. Cuthbert Martin, widow of a former vice president of the bank, who said that all of her husband's estate and more than $5,000 of her personal funds were entrusted to the bank at the time of its failure. Mrs. Martin testified that Lieutenant Governor Cooper was administrator of her husband's estate, that she had become dissatisfied with his methods in handling it, and had sought to have herself named executrix. A legal action relating to this controversy was brought before Judge Connor in which he ruled that the federal court did not have jurisdiction. Most of Saturday was spent in introducing records of the Commercial National and a large stack of ledgers and other books was added to the great quantity of documentary evidence already introduced. Testimony yesterday was to the effect that a large block of the stock with a par value of $43,000 had been sold to the citizens of Wilmington a few months before the doors of the bank were opened. Several witnesses testified that the stock had been sold to them by Thomas E. Cooper, who told them, they testified, that he was doing them a favor to let them have it at a bargain of $100 per share as it was worth more than that and that their names were on a "list of prominent citizens" who would be allowed to become stockholders in the bank. These same witnesses testified that a few months later receivers for the then defunct bank called on them to pay par value assessments on their holdings.
Click image to open full size in new tab
IMPORTANT CASES TO BE HEARD NEXT WEEK Depositors of Bank of Southport Hope Dividends Will Be Forthcoming Southport, July 29.-Two most Kittrell, North Carolina, died at her home in Richmond, on Monday important cases to the depositors morning, July 26th. of the Bank of Southport that Mrs. Hunt, who before her marclosed its doors February 1, 1923, riage was Miss Rosa V. Raney, was will come up for hearing at the a daughter of the late Thomas H. sessions of Federal Court next week Raney and Mrs. Eliza P. Baird Raney at Wilmington. The first is the of Granville county, and sister of demand by the receiver of the Bank the late R. B. Baney of Raleigh and of Southport, the People's United C. W. Raney of Henderson. Bank, of this city, for deposits Mrs. Hunt is survived by her hus. amounting to $124,811 that were in band; four children, John Leigh the Commercial National made by Hunt, Cora Raney Hunt, Mrs. George the Southport bank between De C. Fitzhugh, and Ira Thomas Hunt, cember 15 and December 31, 1922. Jr.; foster son, Herbert Wood; The contention will be made that and one grandchild, Katherine Bevthe trials of W. B. Cooper and erly Hunt, all ofwhom reside in Thomas E. Cooper have shown that Richmond. She leaves also one the Commercial National Bank of brother, T. H. Raney, of Chapel iHII, Wilmington was not solvent when and number of nieces and nephews. these deposits were made, its in Funeral services were held in solvency dating from December 15, Saint Paul's Church of Richmond 1922, and its closing being DeTuesday afternoon, after which she cember 31, 1922. was laid to rest in Hollywood The second case is on the conCemetery. tention that $16,000, the 10 per cent divide dthat of the Commercial Na. tional Bank should be charged against the Cooper bank here, to apply on the bond of the Wilmington bank for & credit. The Southport receiver contends that the Commercial National Bank hav. ing closed its doors December 31, 1922, while the Southport bank did not close until February 1923, this bond was null and void, hence the depositors of the bank here are entitled to receive this dividend to be added to additional amounts that will enable the bank receivers here to pay dividend at once, none having been paid, but held up and delayed by the contentions that are to be deter-
Click image to open full size in new tab
BANK ISSUES TO BE AIRED IN WILMINGTON Bank of Southport Wants Something Said to Be Coming to It From Commercial National. (Special Daily News) July portant to the depositors the of that closed doors, February come for hearing sessions federal The contention by the of the Bank of port, the Peoples United of this for deposits amounting $124,811 that in the National made by the bank December 15 and December 1922. The second case is the contenof the dend that receiver of the National bank has paid, the bank's being held the that claim this amount should be charged against the Cooper bank here, to apply on the bond of the Wilmington bank for credit. The Southport re. celver contends that the Commercial National bank having closed its doors, December 31. 1922, the port bank did not close until Feb. ruary this bond and hence the for the bank here are entitled to dividend to be added to additional amounts will enable the bank receiver here pay dividend having been but held up and delayed by the contentions that are to be determined United August this year The settlement of this latter sult in favor of Southport bank would percent divident to be short time to depositors. have been rather waiting for over three years for dividend of some kind.
Click image to open full size in new tab
DEFUNCT Over Twelve Hundred positors Will Get Fourth of Deposits Southport, Aug. settlement the suits the receiver of Commercial Na tional Wilmington Federal Court, the People's United Bank, receiver Bank Southport, been busy making checks for 1,269 depositors defunct These mailed some time this month, work getting accounts checks agreement being considerable of The dend be per cent, about $96,000 being involved this first dividend. This dividend has been up for some owing that have just settled. ocean front has been the jective tourists summer. been mountains, returning here, claim the contrast travel met, most autos seeming headed towards Southport has crowdto be with crowds bathing, streets bathing bathers walking or riding the Parties the easily accessible, day night going and There summer than many Local their over What most factory the good of price. fleet increasing number of boats quality improving. As canning being the shrimp being shipped barrels outside The filled with various edible fish fishing from docks greatly enjoyed visitors, piscatorial "experts" being pleased haul any character of fish that will take hook. news the death of Gen Glenn was received with sorrow, General having been closely identified with this city during the past few years.
Click image to open full size in new tab
Sued for $10,000 By Receiver Funds Defunct Warehouse Misapplied Wilmington, Aug. approximately $10,000 has been instituted in United States district course Williams, receiver the Commercial National Bank, against John Dawson, of Kinston, receiver for the Farmers Warehouse Company, of alleging and misapplication funds in the complaint that has been filed. The action brought against the former chairman of the state Democratic executive committee and his bondsmen, May Hardy, and the United States Fidelity and Guaranty Company. The original face value of the note which the suit based $15,000 although payments that have been made in curtailing the paper reduced to However, the plaintiff is asking for interest this amount riod of six years which would the total to approximately $10,000. The complaint lengthy affair John Dawson, going into great detail. Lenoir that Mr. Dawson, who stands high the party councils shown in his to report be in the state, has failed as receiver and to pay plaintiff's claim the warehouse company to quired and failed to form his duties in that he has other provisions of the order accounted for the monies that have ferred come into his hands receiver for Going further the complaint althe company which by due dilileges that the plaintiff has gence should have come into his reasonable means and hands and that he has not dis- sorted every reasonable bursed same for the benefit compel receiver to account creditors; that he has failed the funds which have come into refused obey the orders and dehands receiver and to of the court in this cause in same provided by law and by that he has failed to disburse funds orders of court. hand perform reused method for his disburse the
Click image to open full size in new tab
BANK RECEIVER LOSES APPEAL IN RICHMOND C. Williams. Wilmington, Fails In Action Commercial National Bank News) marine the National Bank appeal from the Wilmington case brought against Green recovery promisory note of held the bank. The court affirmed held that Williams entitled note originally for but had been lates. The payment Green alleged that at through false and fraudulent repreand and vice president the axe had been was value the stock held. bank from Cooper, president. brother The rep. resented solvent when lated, but hopelessly insolvent Roberts stock utterly worthless. Green the bank took the from Cooper with knowledge of the fraud. On his
Click image to open full size in new tab
SEARCH FOR BANK RECEIVER ENDS IN WILMINGTON HOTEL SEARCH FOR RIOT LEADERS DROPPED Quiet Reigns In Region Of Alabama Crop War That Resulted In One Death county night after 24 hours of the of one that caused of four gro, and arrest six alleged sheriff, leaders the union. of Sheriff Kyle Young this aftercalled posse numbering noon 100 officers and approximately zens who had surrounded swamp three miles from Reeltown where three of the alleged leaders were believed to have sought sanctuary. On his return here Sheriff Young sald the search had called off because swamp made capture of the trio unlikely. Hiding In Swamp Members of the sald the Nehiding in the groes believed in near the home of swamp, which was Jeans, where the two had their Judson and another Negro unidetified. While Sheriff Young declined to discuss his next move permen, officials said the six or eight the posse sought apparently had gone into hiding and would be taken into custody on their return. Have Leaders' Names Officers the names of all the leaders of the lo- (Continued on Page 7. Column Earl W. Jones, Of Statesville, Is Found In Stupefied Condition At Cape Fear Hostelry Dec. search for Jones ended here today when the missing bank receiver was in locked said he was suffering mental disorder, possibly receiver of the Jones, was Commercial National bank here eral years ago, was identified by number of friends and his law, Annie but no indication of recognized them. When found lying across in the Cape Fear hotel Statesville appeared to be condition. Officers and newspapermen carried him to an ambulance where he was taken to hospital Mental Derangement Dr C. B. Koonce, physician attending Jones, said his "stupor purely mental condition." Physically, Dr. Koonce said his condition is normal "There's too much noise, Jones mumbled when found. Physicians said he continued to repeat "there's too much noise" the hospital Sheriff C. David wired the chief bank examiner at Washington advising him Jones' discovery and asking Miss Herring wired Jones' wife at Statesville and it was understood she would arrive here Jones disappeared from Statesville December 5, three hours before he was to have his as of the National bank to W. H. Spradlin An audit the bank's books is now being Recalls Robins Case The the Robins this state last month Robins nationally prohibition was found in the little Whittier after he had been for months and the object of tional His physician said he was suffering from Jones had been registered (Continued on Page 7. Column
Click image to open full size in new tab
May Prefer Charges In Jones Case District Attorney Frank C. Patton of said here today he had ordered the Earl former Statesville bank audit of his books and pending probably will be charged with violation his under arrest in Jones, where found mington. ago after having receiver of the December mercial National Bank of few hours before He disappeared he was to the bank's affairs Spredlin. sent Washington to relieve Sheriff C. David Jones. of New in Hanover county hospital. under technical arrest yesorders of Patton but no terday on charges were at that time.
Click image to open full size in new tab
Jones Described As Seriously Ill Jones, former bank receiver, was in hospital today physicians described him as seriousJones became ill, relatives said, route home Saturday night. had been released under $5,000 bond from the New Hanover county Wilmington for appearance federal court here April for trial on charges of misapplying and embezzling funds He was specifically charged with taking $1,600 small sums from the Commercial National bank while its receiver here in 1931 and 1932.