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TWO BANKS SUSPEND OWING TO COLLECTIONS . Special by United Press Wire: Owensboro, Ky., Apr. 24: Because of poor collections the Owensboro Savings Bank and Trust Company and the Davies County Bank and Trust Company are declining to receive any more deposits and have suspended cash payments pending a The Owensboro re-organization. company has deposits of more than $1,000,000 and the Davies County Company has more than $700,000.
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KENTUCKY BANKS SUSPEND. Large Institutions Close Doore Pending Reorganization. Owensboro, Ky., April 24.-The Owensboro Savings Bank and Trust company and the Daviess County Bank and Trust company. are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions. The former has deposits of over $1,000,000, the latter $600,000.
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AN OLD KENTUCKY BANK CLOSES DOORS (By Associated Press.) Owensboro, Ky., Apr. 24.-The Owensboro Savings Bank & Trust Company, one of the oldest banks in Kentucky, and the Davies Countv Bank & Trust Company are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions. The banks are capitalized at $200.000 and have deposits of over a million dollars.
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OWENSBORO BANK Owensboro, Ky., April 24. (Special.)-I. M. Pendley is agreed upon as receiver and the Owensboro Savings Bank and Trust company will be reorganized as the Owensboro Savings company, with $100,000 capital.
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Suspends for Reorganization. Owensboro, Ky., April 24.-The Owensboro Savings Bank and Trust company and the Davies County Bank and Trust company are declining to receive deposits and have suspended cash payments pending a proposed re organization of both institutions. The former has deposits of over. a million and the latter $600,000.
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Kentucky Bank Closed. Owensboro, Ky., April 29.-The Davies County Bank and Trust company, which declined deposits and suspended payments several days ago, was today taken in charge by Assignee Henry Cline. The bank has a capital of $50, 000 and deposits of over $600,000. The assignment followed that of the Owens. boro Savings Bank and Trust company, which had a capital of $600,000 and deposits of over $1,000,000.
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TWO BANKS FAIL AT OWENSBORO Poor Business Caused Them to Close. THEY HOPE TO RESUME SOON Daviess County Deposit Bank and Owensboro Savings Bank the Ones. Pending a series of conferences of the stockholders of the Owensboro Savings Bank and Trust Company and the Daviess County Deposit Bank and Trust Company, both of the institutions have suspended cash payments and are refusing to accept any more deposits. A run was started on the Owensboro Savings Bank several days ago and while that was checked, the officials feared a repetition of the run would bring about a condition tha would be injurious not only to the stockholders but to the depositors as well. The officials of the Daviess County Deposit Bank give poor collections as the cause of their action. Both President Parrish of the Owensboro Savings Bank and President T. S. Anderson of the Daviess County Bank declare that reorganizations will be effected in a few days, and insist their banks will soon be open for business. The Owensboro Savings Bank has a capital stock of $200.000 with deposits according to the last statements of $1,088,838, while the Daviess County Bank has a capital of $50,000 with $600,000 deposits. The former bank is the third oldest financial institution in Owensboro and was organiz» ed in 1871 by T. S. Anderson, now president of the Daviess County Bank. Mr. Parrish, who is a native of Bullim county, took charge of the institution's affairs in 1900, though he has been associated with it since 1884. The officials of both institutions make the claim that the depositors will lose practically nothing. T. A. Pedley was appointed receiver of the Owensboro Savings Bank and Trust company by the circuit court Saturday, in the proceedings against that institution by the commonwealth, on relation of Ben L. Bruner, Secretary of State. Numerous expressions from stockholders and depositors indicate that satisfaction with Mr. Pedley's appointment is general. He has the unqualified confidence of the people of the county, both as to his ability as a banker and as to his integrity. A stiff fight was made by James H. Parrish, president of the bank, to prevent the appointment of Mr. Pedley as receiver and, failing in that a motion was made to have some one else appointed with him as joint receiver. Judge Birkhead, in ruling on the motion, said an objection to two receivers was the fact that the expense would be heavier than with one. "The sale of land," he said "would be a matter for the court to decide. The receiver will consult with the court on all matters of importance." The judge, himself, wrote out both the order and the bond, fixing the amount at $200,000, the largest legal bond ever required in Daviests county. It was signed by Mr. Pedley as principal, and he American Surety Company, by Sweeney Bros., agents, and C. M. Finn, resident autorhey, as surety. Several stockholders of the bank were interviewed Saturday afternoon, and they expressed themselves as being pleased with the appointment of Mr. Tedley. Said one stockholder: "Mr. Peley is the most competent man in Daviess County to have charge of the bank in its present condition. It needs a man
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Forced to Suspend. The Owensboro Savings Bank & Trust Company and the Daviess County Bank & Trust Company are declining deposits and have suspended cash payments pending a proposed reorganization of both institutions. Several days ago a run, due to false rumors, was started on the Owensboro Savings Bank, but this was stopped by the payment of all demands. The Daviess County Bank & Trust Company is capitalized at $50,000 and has deposits of about $600,000.
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Reorganize Two Banks. Owensboro, Ky., Apr. 25.-The Owensboro Savings Bank and Trust Company, one of the oldest institutions in Kentucky, and the Daviess County Bank and Trust Company are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions.
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The Owensboro Savings Bank and Trust Company and the Daviess County Bank and Trust Company, both of Owensboro, Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions.
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The Davis County bank of Owensboro, Ky., with deposits of $600,000, assigned, Henry Cline was named by court as assignee. The assignment followed the assignment of the Owensboro Savings Bank and Trust Company, with deposits of over $7,000,000.
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The Davis County bank of Owensboro, Ky., with deposits of $600,000, assigned. Henry Cline was named by court as assignee. The assignment followed the assignment of the Owensboro Savings Bank and Trust Company, with deposits of over $7,000,000.
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The Owensboro Savings Bank and Trust Company and the Daviess County Bank and Trust Company, both of Owensbore, Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions.
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The Owensboro Savings Bank and Trust Company and the Daviess County Bank and Trust Company, both of Owensboro, Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institut one,
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It CRIMINAL PROSEn is CUTION BEGUN. g S Parrish and Anderson Arrese ted at Owensboro. d a Revelations of Receivers Cause d S Issue of Warrants and are Held under $15,000 Bonds. 11 d Owensboro, Ky., May' 18.-James H. Parrish. president of the Owensboro Saving Bank and Trust Company and T.S. Anderson. president of the Daviess County Bank and Trust Company, were both arrested yesterday as a result of the disclosures following the recent failures of the two institutions. Both men waived examination and were held under bonds of $15,000 each to await the action of the grand jury. Thirty-one years ago James H. Parrish began work as a clerk in the bank owned at that time by T. S. Anderson. He learned the banking business from Mr. Anderson. His advancement was rapid. In 1884 he purchased the bank from Mr. Anderson. The latter moved to Detroit, Mich., and opened a bank. The rise of James H. Parrish in the financial world was phenominal. A few months ago his bank had a capital stock of $200,000 and deposits of over $1,000,000. Mr. Anderson quit the banking business in Detroit a few years ago and returned to Owensboro and opened another bank. He. too, a few weeks ago, had deposits of $640,000. To-night, James H. Parrish,president and largest stockholder of the Owensboro Savings Bank and Trust Company, and T. S. Anderson,president of the Daviess County Bank and Trust Company, the teacher and the pupil, are both under bond of $15,000 to appear before the August Daviess county grand jury. Anderson was arrested on two warrants. One charges him with fraudulently converting to his own use $20,000 of the funds of the bank. The other warrant charges him with receiving deposits when he knew his bank to be insolvent. Párrish was also arrested on two warrants, both charging him with receiving deposits when he knew his bank to be insolvent. The arrest of Parrish and Anderson did not come as a surprise to the citizens of Owensboro. However, it created one of the most profound sensations in the history of the county. On April 24, a motion was made for a receiver for the savings bank. T. A.
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The Owensboro Savings Bank and Trist Company and the Daviess County Bank and Trust Company, both of Owensbore. Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions.
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The Davis County bank of Owensboro, Ky., with deposits of $600,000, assigned. Henry Cline was named by court as assignee. The assignment followed the assignment of the Owensboro Savings Bank and Trust Company, with deposits of over $7,000,000.
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LITTLE LEFT FOR CREDITORS FROM OWENSBORO BANK Owensboro, Ky., June 2.-(Special.)-T. A. Pedley, receiver of the Owensboro Savings Bank and Trust company filed a report saying the general creditors could not hope to realize more than 15 cents on the dollar. Many assets are valueless and few worth par.
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In a statement of the condition of the defunct Owensboro Savings Bank and Trust Company, T. A. Pedley, the receiver, declares that the assets are not sufficient to pay over 15 per cent. after the claims of a fiduciary character are paid.
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# WARRANTS SERVED # ON THE PARRISHES In Owensboro Savings Bank Matter. # BOND EXECUTED TO APPEAR Warrants Were Issued on the Sworn Testimony of T. A. Pedley, Receiver. The Owensboro Messenger says: In addition to being under a bond of $15,000 to appear at the August term of the Daviess county grand july to answer charges of receiving deposits at the Owensboro Savings Bank and Trust Company, when he knew the institution to be insolvent, James H. Parrish, President of the defunct bank, was on Friday arrested on two additional warrants. One of the warrants charges him with the embezzlement of $7,070 of the prop- erty of the bank and converting it to ais own use and the other warrant charges him with subornation of perjury by causing to be made a false statement concerning the condition of the bank. Mr. Parrish waived his examining trials in both cases and was held to the August term of the Daviess county grand jury. His bond was fixed at $2,500 in each case, which he executed. The warrants on which Mr. Parrish was arrested were issued by County Judge W. W. Owen on information furnished by T. A. Pedley, receiver of the Owensboro Savings Bank and Trust Company. Mr. Ped- ley was summoned before the County Judge on Friday morning and after being sworn was asked to give testimony concerning the condition of the Owensboro Savings Bank and Trust Company. The testimony that he gave led to the issuing of the warrants. At the same time warrants were issued for the arrest of J. Olis Par- rish, cashier of the bank, and Isaac N. Parrish, trust officer of the same institution. Otis Parrish is charged with perjury for swearing to a state- ment that he knew to be false. It is alleged that the statement of the condition of the bank made to the Secretary of State on March 31, is padded to the extent of about $150,- 000. Otis Parrish was arraigned before County Judge Owen and waived his examining trial and was held to the August term of the grand jury. His bond was fixed at $5,000, which he executed. The warrant issued against Isaac N. Parrish charges him with mak- ing a false entry on the books of the bank of $60,000.
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FUNDS TO MAKE SMALL SETTLEMENTS T. A. Pedley, receiver of the defunct Owensboro Savings Bank and Trust Company, reports that he has funds on hand to pay the unsecured depositors two per cent. He said he hoped to pay the depositors ten per cent at final settlement.
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# Sheriff's Sale. By virtue of an execution issued from the Daviess Circuit Court in favor of T. A. Pedley, receiver of the Owensboro Savings Bank and Trust Company, vs. H. A. Williams, I or one of my deputies will on Monday, May 5, 1913, between the hours of 10 a. m. and 3, p. m. at the Court House Door in Hartford, Kentucky, offer for sale the following real estate situated in Ohio County, Kentucky to satisfy the above execution, amounting to $349.20 with interest at the rate of 6 per cent from April 10, 1905, and also the further sum of $9:45 adjudged as costs. First-Beginning at a stone in S. J. Baker's line-Black Oak Sapling marked as a pointer. Thence North 36, East 57 poles to a stone in H. B. Taylor's survey, small post, oak, 8 feet from stone marked as a pointer. Thence with said Taylor's line South 80, West 51 poles to a stone Chestnut and Hickory marked as a pointer containing 25 acres. Second-Also a tract of 10 acres more or less in the same county and state and bounded as follows: Beginning at a stone in the Cromwell and Hardinsburg road, a white oak one pole West of same marked as a pointer. Thence South 74, East 43 poles to a post oak corner to J. P. Nelson's tract. Thence South 8 1-2 East 25 poles to a stone, white oak and black oak marked as pointer. Thence west 54 poles to a stone in the center of the Cromwell and Hardinsburg road, and with the same North 12, East 37 1-2 poles to the beginning, containing 10 acres, more or less, and being the same two tracts of land conveyed to S. J. Baker by W. A. Fielden and J. P. Fielden, his wife, on the 10th day of October, 1892, by deed of record in the Ohio County Court Clerk office in deed book No. 13, page 331, and the same tract afterward on the — day of — sold and conveyed by the said S. J. Baker and wife to the defendant, H. A. Williams, but no record of said deed of conveyance can be found in the Ohio County Court Clerk office. Third-Also a certain tract of land lying on the head waters of McGrady creek in Ohio county, Kentucky, and bounded as follows: Beginning at a black oak in Peach's line; thence South 39 1-4, East 26 poles to a stone, thence South 75 3-4, East 20 poles to a black oak. Thence South 72 1-2, East 30 poles to a Chestnut and Gum on a branch. Thence down said branch with its meanders to Adam line North 38, West 32 poles to a Schroader's line, thence with said line North 38, West 32 poles to a black oak on Sugar Grove branch, thence up said branch with its meanders to a poplar and beech-Chapezo and Clements corner-thence with this line North 56 West 94 poles to a post oak, Peach's corner, thenge South 8 1-2, East 61 poles to a hickory and red oak, thence South 53, West 60 poles to the beginning, containing 130 acres, less the amount of said land gained in the Ohio Circuit Court by G. W. Clements, supposed to be about 20 acres, and being the same tract of land conveyed by Mathias Miller and others to said, S. J Baker on the 21st day of January,