1.
January 20, 1932
Winston-Salem Journal
Winston-Salem, NC
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Elkin National Bank Is Closed
Surry Town's Oldest and Largest Institution Closes Doors
The (Special Elkin National Bank oldest banking tion failed open for this morning decision was made of the directors, at the The notice posted on the this account of the continued steady of our deposits for the last several days and in protect the of positors of the Elkin National Bank at the on decided paying receiving any funds until notice. hoped that for tion may worked out short time whereby business be Signed Alex cashier Members of the board directors today express that the bank will be reopened for business at an date. indication of a run upon the Bank of apparent and business at that institution is nor mal.
2.
January 27, 1932
Winston-Salem Journal
Winston-Salem, NC
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Spradlin Named Receiver Of Elkin National Bank
Hotel Elevator Falls 9 Stories
High perserious injury and possible when an the Sheraton Hotel fell floor to the afteroperating elevator the in the accident. cut one fell the top and his manager of the said the elevator not The car skidded on the pels to the ment rapid rate of speed number of the passengers were
3.
April 6, 1932
Winston-Salem Journal
Winston-Salem, NC
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Depositors In Meet at Elkin
Organization Effected for the Protection of Their Interests
Elkin. April 5-At mass meeting of depositors of the closed Elkin National Bank. which drew an attendance filling good portion of the huge McNeer Tobacco Warehouse, an organization was effected. look ing to the protection of the interests of the depositors during the liquidation of the bank now in progress Maguire made and Moseley secretary of the James of Elkin and H. Neil of Washington, D. C., were chosen as Attorney Robert H. prominent barrister of the national tal. by addressed body explaining in the in and the value to the depositors such organization. whose counand executive keep intimate touch the bank's receiver and during the period of and protect possible the ests depositors linked up with the With considerable banking expertence behind him, the visiting rister many points the of bank many had puzzled minds of patrons the bank The work of this was explained would be tion with the agencies appointed the government to close the affaire of the The executive committee named to lead the work of the organization include Moseley O. Maguire, in Mathis, and McKinley Burcham.
4.
April 6, 1932
News and Record
Greensboro, NC
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DEPOSITORS OF BANK TO PROTECT RIGHTS of Depositors in Organization Closed Elkin Institution Is Perfected.
Daily April mass meeting the closed Elkin Nadepositors tional bank which drew attendance which well-nigh filled the McNeer warehouse here, an organization looking to the interests of the during the liquidathe in progress. Maguire Moseley secretary and and Robert McNeil, of Washington City, were chosen attorneys. Robert McNeil, by invitation addressed the the and the value the tors whose executive committee would keep in touch with the bank's receiver and handle matters of individual interest to the depositors, outside of the scope the The named to lead the organization inMathis, Montgomery Dobbins and McKinley Burcham.
5.
August 26, 1932
The Sentinel
Winston-Salem, NC
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Pay Dividends At Elkin Bank of per is dividend the Elkin H. to here stated which is National of to paid $32,000 Elkin sent since those who January Only closed the claims will receiver dividends which meet with he secured debts $15,000 alphathirteen will
6.
August 27, 1932
The Sentinel
Winston-Salem, NC
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Pay Dividends At Elkin Bank cent. is being A dividend of per depositors the distributed the distribuElkin National Bank, been started tion having H. to busistated while here with the Peoples ness which he is also National of to be paid out The dividends and Elkin aggregate the institution since closed sent the January first 18. Only those who had proved claims will receive the dividends at this time, the receiver sufficient reserve with which to meet all unproved claims. Since he took over has the paid receiver. out ship Spradlin secured debts and $70,000 on the $15,000 allowed approximately for Payments are being made alphabetically and will require thirteen
7.
October 23, 1932
Winston-Salem Journal
Winston-Salem, NC
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Petition of Elkin Bank Receiver Asks Authority To Enter Into Covenant
Considers Settlement to Save Former Officials From Suite
With Chatham Co.
Admits Finding Irregularities in Books
(Special The Journal and Sentinel) on the Elkin National relative to the sale of certain assets of the defunct for authority make adjustment of bond claims and will be before Judge Johnson Hayes federal Greensboro on 29th 10 The of the hearing is purpose afford tunity better offers for the involved the make propriate comment suggestions pertaining settlement liability the directors and adjustment of Petition on which the hearing be August last and hearing was held on In the the receiver asks authority transfer without warranty or and upon of cash and cates duly certain the deposit of the the of in gregate obligations of assets are the family. The also to enter the the bank and parties involved no against the bonds on acts and cashier bank which have to the Authority asked to enter for parties resulting due failure to perform duties as petition out that is the The not more can be realized from all the assets to be Chatham and the exception of item of This probably collected in the the debtor given ample time make It is further alleged in the tion that the the Lillard and and that their worth insufficient to furnish net delay covery countered in the adjustment Chatham was president of the Elkin National Armfield was its doors on January last. of in New survey tourist showed 99 had Hampshire temptible position of American poli Thomas came to from last night, and to tomorrow for Wilmington, Delaware. presidential electors were this year's official North placed on Carolina ballot after workers secured 10,000 names petitions to "political by the Board of party,
Burlington said for brief talk here 1928 York has had you're going for Franklin telling you he hot and in York
8.
December 4, 1932
News and Record
Greensboro, NC
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$3,488 Suit Docketed Here Against Elkin Bank Receiver
Suit started in Surry county Superior by Royal Manufacturing company against W. Spradlin receiver the Elkin National Saturday federal court here. The plaintiff seeking collect on three drafts alleged have been paid to the Elkin National bank by Chatham company, which receiver refused to allow as preferred claims,
9.
January 6, 1933
News and Record
Greensboro, NC
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STARTS ELKIN BANK RECEIVER
Veteran Says He Was Induced By Cashier of Defunct Bank Keep Money On Deposit.
$2,245 AMOUNT SOUGHT
McKinley, Burchman, world war veteran, who alleges that he was Thduced by the cashier of the defunct Elkin National bank to keep portion of the proceeds risk insurance on deposit started suit in federal court Thursday against W. H. Spradlin, receiver of the bank. collect $2,245.63 as preferred claim against the bank's assets. The complaint alleges that the plaintiff placed representing judgment the ernment, bank North Then January, 1930, according further was duced the president, vice and Elkin National bank to deposit $5,000 in the In April, 1931, the plaintiff alleges, went the to to draw the entire account, but placed on savings account after being assured by the cashier Then January. 1932. the plaintiff the his money again leave bank was closed January and claims that bank that date savings and $245.63 on The that his on deposit was "Impressed trust' because of the allegedly fraudulent manner which officers induced him to leave the funds on
10.
January 13, 1933
News and Record
Greensboro, NC
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CASHIER SAYS ELKIN TRUE
Charge Diversion of Funds Is Denied By Beeson-Explains Transaction.
ENTERED BY
(Special to Daily News) Jan. 12.-Replying to Elkin, filed change contained Spradlin, some defunct Elkin Nafor tional against Bank funds the Elkin, diversion of not for Reich for safe out Bank the Bank of Spradlin replying the charge brought the followCashier Beeson presents order to dispel any false imarise from might Bank legations made put the action instituted of the Elkin Spradlin, receiver federal court of tional the of North Carothe middle district the Assoreported make the clated Press, wish following undersigned did on the deliver to February Reich one note for $550 be held with him contract mutually enwritten into on that that the "This sets to held was and the undersigned when had served its assure undersigned would not use the Reich mutually agreed note on the same day Reich the Bank Elkin the note the undersigned delivered Reich therefore the Elkin. receipt of the Bank the About June Reich requested the note $550 that he release undersigned and that thereto and readily undersigned. the of the written surrendered terminating the agreeagreement the agreement. ment has and since been held and the possession the closing some bank, came the underthe attention accident the signed receipt issued negotiable delivered to the been some months Elkin National prior thereto the request that note for $550 be delivered "However. delivery had never been requested the undersigned, the was subseof Elkin, nor quently requested by any official Elkin Natonal that an Elkin National the adivsed the contract with Reich had been mutually terprior thereto, the note in question had and released to the undersigned been Reich: that the Bank of kin had part the between the and absolutely no inReich and had of any kind with the now defunt Elkin National bank.
11.
April 4, 1933
Asheville Citizen-Times
Asheville, NC
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Roosevelt Sends Four Nominations To Senate
COUNTRY MAKES LARGE LOANS IN CAROLINA
April loan authorized the North Carolina Bank and Trust company Greensboro, topped others the state the Rereport to Congress Others included The Indepen$135,000: United Bank and Trust $50,000: Elkin National bank, (receiver). Rocky Mount Homestead and association. $49,500: associOxford. Atlantic Building Loan association. High The total in North Carolina $3,558,542