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BANKS CLOSE DOORS IN WESTERN TYING UP O'VER 22 MILLION DOLLARS
Convicted Bankers Will Not Be Given Clemency
Governor Also Includes Public Officials and Those Who Breach Judiciary Relations in Public Statement; Has Received Many Requests and Denied Them All
Persons imprisoned for violation the banking laws, positions public trusts and breeches fiduciary relations need not apply for executive elemency unless there health of the prisoner in jeopardy, according served yesterday by Governor Gardner. The Governor's public ment based urgent appeals that have been made to him for clemfor some ten prisoners confined the State Prison far have made their pleas But although based on cases that occurred the past rather than anticipation anything that might happen North Carolina the future, statement followed receipt the news fresh bank Western North Carolina. time when public fidence sorely needed and this will do its power that confidence." declared Gardner statement, think that the should know that there will be pardoning paroling those convicted betraying trust under extraordinary circumstances. Governor Gardner's statement fol. lows full: "There has developed in recent many petitions from strong source applying for for prisoners confined the State's for violation the banking positions pubtrust, and for breaches fiduWhile there uniformity punishjudge his view the law and the also that most difficult down hard and uniform when stand merit, do this the public that will be the policy of this fice not interfere with the tences the courts in the of cases, there delevoped evidence the health the prisoner gravely by further Prisoners character mentioned, differing from ordinary criminals,
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Closing of Six Banks Linked With Failure of Central Bank and Trust Comof Asheville pany
CRASH LARGEST IN FINANCIAL HISTORY OF THE STATE
Asheville Bank Was Fourth Largest in State; Three Banks Close in Hendersonville Leaving Town Without Banking Facilities; Other Asheville Banks Withstand Runs; Chief Examiner Mitchell Leaves For Asheville; Blames Crash Estate Boom Aftermath; City of Asheville and Counof Buncombe Were Largest Depositors in Closed Central Bank, Which Was Most Important Financial Western Carolina; Few State Funds in Banks and All Amply cured
Eight North Carolina banks with deposit liabilities of $22,270,601 yesterday. All the banks located the the State, and cept the Bank Lowell, small bank County textile munity, the centered about crash the Central Bank and Trust Asheville, fourth largest bank the State and single bank. deposit liability the bank the largest history the State. Chief State Bank Examiner John Mitchell and Corporation CommisAttorney Bailey left for night. frankly feared banking circles other failures the far western would follow yesterday's closings, but Examiner Mitchell issued ment which he termed the situation "purely local" and reflecting conditions in the State generally, Wallace Davis was President the Central Bank, and Chas. Bradford, esahire. Seven the banks closing yester. day were State banks, running the total for the Others Withstand Runs. While largest failure took place Asheville, the other banks withstood runs. nate, and night was without banking three its banks closed. The First Bank and Trust Company failed its doors yesterday American Bank and Trust Company only minutes, and after hours the Citizens tional Bank, the only national bank suspend closed its doors the face the banks totalled the last call date, 24. by the directors of Central Bank Trust Company not few minutes yesterday morning. The bank had subjected heavy several days. The State fied by telephone take charge for liquidation.
Others Close. Shortly thereafter banking department notified of the clos. the bank, and three Hendersonville banks. Later requested to send agents take charge of the Bank Leicester, Buncombe County, the Clay County Bank Hayesville. The cashier of the Clay County Bank reported grim humor. "Central closing closes Send wired the banking department. Attached the gram Thanksgiving seal, used by the telegraph company messages. Then came the news the failure the Bank Lowell, its closthe far western officials blaming failure of deposits of the Lowell yarn small bank, deposits. Cause Failure. Banking officials clined link Central with the house Cald. although current Asheville that Caldwell interests preparing refinance Mitchell laid the fail. from boom quent estate curity which imposdemands Central bank favorite for county months million dollars Park funds raised State were withdrawn.
Large Public Funds. On reported had deposit 216,674 the city $2,445,975; and Board 177. These amounts (Please Turn
