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# Not Verified But Attorney Came to Select Local Counsel # MAKES LAST OF OFFICERS Certain That Vice-President of States Trust Company Will Come Here to Be Tried Attorney General T. W. Bickett yesterday received a telegram apprising him of the oncoming of Attorney Pierce with W. O. Tarver, who was to have surrendered himself to the local authorities. Mr. Pierce came, but Mr. Tarver did not. An unconfirmed story is that Tarver was taken at Augusta, and will be here this week. Mr. Pierce, whose brief visit was understood to have been for the purpose of securing local counsel to appear for Mr. Tarver, returned in the afternoon, and was seen by none of the newspaper men. If the story is true that Tarver, the vice president of the States Trust Company, is under arrest, this gives the State possession of the whole States outfit, and makes certain that all will be here April 21 when the trial comes off. It will be a notable hearing. Besides appearing as defendants in a court charging them with violation of the North Carolina banking laws, other indictments are expected, and there is little doubt that one of the biggest legal fights in North Carolina in many years will be this one, if the defendants fight. Tarver's arrest makes the last of the States Trust Company, Smith and Bowlds, president and secretary-treasurer, being in custody. The corporation commission continues to hear complaints from all sections of the State and last night came another story from New Bern telling how three thousand dollars more had been sold in stock to people of Cartaret county. Though Engelhard, Hyde county, reported about six thousand dollars sold in stock there, another section of Hyde makes outcry to the tune of $4,000 and there are apparently other precincts to be heard from. Thus far, about twelve sections have been heard from in which promoters of banks have worked the territory and sold stock ranging from $1,000 in cash to $2,000. In several places a considerable amount of good paper has been discounted and the losses have run nearly to $40,000. If one-half of the notes have been discounted, the figures will greatly exceed this. ### How It Worked. The State Trust company started business under a formidable name. It sounds as substantial as Standard Oil and as conservative as the Hanover National. It is as patriotic as Old Glory, but on the first show-down, the secretary-treasurer lies in supine impotency in the city prison and the "granite structure" of Wilmington sneaks into a lonesome alley. Yesterday morning, one week ago C. H. Bowlds, the fearless member of the mysterious corporation, stood fore the State Corporation Commission and offered to submit a financial statement showing that his company had $90,000 in assets. The commission isn't certain whether the $90,000 was in "asses" or assets, but recalls the figures as relating to property. The company may have it certainly Mr. Bowlds hasn't it. About four months ago there came into the State three men who had had experience in promoting questionable enterprises-Ector H. Smith, of Birmingham, Ala.; Tarver, of Augusta, Ga., and C. H. Bowlds, of Fairfax, S. C. Their plans were shrewdly made, and took into account a full knowledge of conditions and ambitions of the rural communities and small towns, as well as some knowledge of the ways of high finance. They invested $30 in a charter, put in a supply of lithographed stationery and typewriters, rented obscure quarters on the third floor of a building in Wilmington, where they put out not so much as a name plate on the door and they were ready to inaugurate their campaign. Without further recommendations or guarantee than that their special agents were sent out asking that the people turn over their surplus funds to the States Trust Company to handle and invest for them. And they were succeeding at a rate that would easily have piled up for them a half million dollars if they had been permitted to operate to November first. Not a Banker. Please understand that the State
