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PINEVILLE BANK CLOSED. Shortage Reported, With Former Cashier Out of Town. The Pineville Loan and Savings bank, Pineville, N. C., just across the State line from Fort Mill township, apparently is in bad shape. The bank's doors are closed and a State bank examiner, who has been appointed receiver of the institution by Judge Harding of the North Carolina superior court, sitting in Charlotte, is busy checking up the accounts of the institution. Yesterday the word was current in Pineville that a shortage of several thousand dollars had been discovered by the bank examiner, who is said yet to have several days' work ahead of him before the actual condition of the bank will become known. Two years ago C. S. Oakley of Ridgeway, Va., came to Pineville and was made cashier of the bank. About two weeks ago the directors of the bank. all Pineville business men, suspecting that the finances of the institution had become somewhat tangled, told Oakley that his resignation would be accepted. Then Oakley turned the keys of the bank over to the pres. ident. W. M. Morrow, and got out. He remained in Pineville until last Friday evening, when he left town ostensibly to go to Ridgeway, Va., to ask a rich rela+ive to help him out financially, saving he would return to Pineville within a day or two, it was stated. Nothing has since been heard from him by any officer of the bank so far as The Times yesterday was able to learn. After moving to Pineville, Oakley is said to have lost little time beginning to bore with a big augur. One of the first things he did after establishing himself in the town was to build the best home the place boasts. Then as a side line he entered the lumber business, to which he devoted so much time. however, according to an official of the bank. that frequently he neglected to strike a daily balance of the bank's transactions sometimes failing to attend to this phase of the business considered important by most bankers. for three or four days in succession. Later he began hor. ing with a still bigger augur when he took the contract for the erec. tion of several residences in Charlotte. These contracts are said to have panned out little pay dirt for him and less. it is feared. for the stockholders and depositors of the bank. The Pineville loan and Savings bank was chartered under the laws of North Carolina about 12 vears nan and has a capital stock of $15.000.
