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MISSISSIPPI BANK IS CLOSED Was Unable to Realize on Outstanding Paper, It is Said. STARKVILLE Miss., May 1.-H. P. Castles of Starkville, was appointed receiver today for the Bank of Sturgis, at Sturgis, Miss., which failed to open its doors this morning. The bank had on deposit about $25,000 with assets of approximately $50.000. Inability to realize on outstanding paper is held responsible for the suspension.
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STURGIS BANK CLOSES. Excessive Loans and Poor Collections Cause of Failure. Sturgis.-The Bank of Sturgis closed its doors and the recerver, W. P. Castle, of Starkville, whom Chancellor Robbins appointed, took charge. The principal cause of the bank's failure was excessive loans and poor collections. The officers of the bank, however, state that they have the loans well secured and hope to be able to pay all depositors in full as soon as the notes can be collected.
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H. P. Castles, Receiver By virtue of the decree of the Chancery Court of said County, rendered in the above styled cause on the 3rd day of June, A. D. 1913, at Chambers in Vacation of said Court, I, the undersigned, duly appointed Receiver of the Bank of Sturgis appointed by said Court, will, on Little 7th day of July, A. D. 1913 between the hours of eleven o'clock a. m. and four o'clock p. III., sell at the front door of the Court House in Starkville, MissLospi in said Oktibbeha County, to the highest bidder or bidders, for cash the following described real estate, situated in the County of Oktibbeha, in the State of Mississippi, to-wit: A certain lot in the town of Sturg1s, beginDing at the south east corner of Miss A C. Hannah's lot and running thence east twenty SIX feet, thence north seventy feet, thence west twenty six feet. thence south seventy feet to point of beginning, situated in the north west quarter OK Section sixteen, Township seventeen, Range twelve east, of said County and State, including the Bank building on said lot above described and also the safe and all tixtures, furniture and equipment in said Bank building and formerly used by said Bank of Sturgis in its banking business. Dated this the 4th day of June, A. D. 1913. 11. P. CASTLES, Receiver of the Bank of Sturges.
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In Chancery State of Mississippi, Court Oktibbeha County. in re Bank of Sturgis No. 2214 11. P. Castles, Receiver By virtue of the decree of the Changery Court of said County, rendered in the above styled cause on the 3rd day of June, A. D. 1913. at Chambers in Vacation of said Court, 1, the undersigned, July appointed Receiver of the Bank of Sturgis appointed by said Court, will, on tue 7th way of July, A. D. 1913 between the hours of eleven o'clock a. III. and four o'clock p. III., sell at the front door of the Court House in Starkville, Mississippi in said Oktibbeha County, to the Highest bluder or bidders, for cash the following described real estate, situated IIA the County of Ontibbeha, in the State to-wit: A certain lot in the town of Sturgis, beginning at the south east corner of Miss A C. Hannah's lot and running thence east twenty six feel, thence north seventy feet, thence west twenty six feet. thence south seventy feet to point of beginning, situated in the north west quarter of Section sixteen, Township seventeen, Range twelve east, of said County and State, including the Bank building on said lot above described and also the safe and all fixtures, turniture and equipment in said Bank buildi. g and formerly used by said Bank of Sturgis in its banking business. Dated this the 4th day of June, A.D. 1913. H. P. CASTLES, Receive r of the Bank of Sturges.