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BANK CLOSED IN DEATH OF HEAD LANCASTER, S. C., July 26.(AP) First Bank Trust pany here was closed Thursday following the suicide of its Charles D. Jones, who shot himself late Albert S. Fant, state bank examiner, ordered the bank not to open for member his staff had visited the bank. His given upon receipt of news of Jones' suicide. Friends bank president cribed ill health as the cause act.
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BANK CLOSED IN DEATH OF HEAD LANCASTER, S. C., July First Bank and Trust pany here was closed Thursday following the suicide of its president, Charles Jones, who shot himself late Albert S. Fant, state bank examiner, the bank to open for business Thursday until member his staff had visited the bank. His order was given upon receipt of news of suicide. Friends of the bank president cribed ill health as the cause of act.
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Bank Closed In Lancaster Awaits State Examiner Lancaster, S. C., July 26. (AP) The First Bank & Trust Co. of this city remained closed today while Albert S. Fant, state bank examiner, was presumably inspecting its books. Mr. Fant refused to comment on the situation before leaving Columbia, it was learned here today. Laneaster, July 26.-Albert S. Fant, state bank examiner, had not arrived in Lancaster last night to authorize the opening of the doors of the First Bank & Trust Co., *which he ordered kept closed when news reached him of the suicide of the instittion's president, State Senator Charles D. Jones. Examiner Fant sent a message to officials of the Laneaster bank asking that its doors be kept closed until he or a representative of his department arrived. It is believed here that this precaution was taken as a measure to forestall a run on the bank, should groundless rumors gain circulation following the death of the president of the bank. Formal Notice The usual formal notice was posted in the bank's window yesterday, announcing that it was closed out of respect for the memory of its late president. The last report issued by the institution, dated June 24, gave its resources as $498,608.52. The capital stock was listed as $50,000, the surplus as $40,000 and undivided profits at $2,783.55. Deposits at that time amounted to $395,857.94 and the loans and discounts totaled $318,951.76 Overdraffs were listed at $20,762.33 and bonds and stock owned by the bank at $107,304.28. The report was signed by President Jones, E. M. Croxton, vice president and cashier, and Ira B. Jones, a director and brother of the president. The report of the bank's condition issued January 16 of this year gave as the deposits at that time, $482,456.24.
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LANCASTER BANK CASE AIRED JONES' WIDOW WAIVES DEBT Brother of Dead President of Institution Is Elected Receiver. The Observer here today of meeting of the First Bank the Trust company of and B. Jones, one of the bank's elected receiver which placed the the of the state bank in Albert following suicide on July of its presSenator Charles D. State crowd which filled every available seat, the aisles and doorways packed the Lancaster county courthouse for the meeting. which lasted noon until o'clock. Among present were white and WIDOW WAIVES $68,000. Mr. Fant in opening the meeting stated that had been called for the purpose of electing receiver Then. Harry Hines read an affidavit signed by Mrs. Lena Heath Jones, widow of Charles D. Jones, stating that his estate was in. debted to her in the approximate sum of $68,000. consisting of various promisory notes. This amount proposed to waive in favor of the bank, provided Ira B. Jones, brother of the late senator, was elected receiver. In reply question by one of the depositors, Mr. Fant said that when he became bank examiner Mr. Jones was indebted to the First Bank and Trust company in the sum of $102,000. This, later was reduced $80,000. He also stated that Ira B. Jones at one time owed the bank $6,000. ESTIMATE LOSS. Mr. Fant's assitants stated. in reply to other questions. that they believed the bank could probably liquidated with one-third loss to depositors after all doubtful pabeen charged off the Considerable feeling developed when nominations for receiver were made and Mr. Fant had to rap his gavel for order Four were Bridges. B. Hough, Max G. Brittain and Ira B. Mr. Jones received majority of both depositors and directors and was declared elected
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S. C. Bank Receiver Violates Bank Laws LANCASTER, S. C., July 23 (AP)-Ira B. Jones, receiver and director of the defunct First Bank and Trust Company of Lancaster, was found guilty in General Session Court here today of violating the State banking laws. Jones was charged specifically with making an ovedraft of $1,171 while director The conviction was conthis morning by a jury which received the case last night.
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ASK FOR REMOVAL BANK RECEIVER Judge Ramage Hears Arguments on Petition Relative to Ira B. Jones, Jr. Arguments were made before Judge C. J. Ramage at chambers yesterday petition for the of Ira Jones, Jr. as receiver of the First Bank & Trust company of the grounds for the being, in brief, that Mr. Jones, as had failed to perform properly his duties, he had not brought promptly on claims and that he had been in court on charges growing out of the failure of the bank. The petition for Mr. Jones' removal was by the county of Lancaster and stockholders and depositors the bank. Arthur L. Gaston of Chester appeared for the petitioners and Harry Hines, J. P. Richards, Allen Sapp and Claud N. Sapp for the receiver. The bank failed in July, 1929, the total deposits being around $400,000 and at and creditors of the bank Mr. Jones was elected by of the depositors and majority of the deposits. In November, 1929. similar petition to that argued yesterday was presented before Judge Mauldin was Judge Ramage heard the arguments but withheld decision.
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OUST B. JONES Petition For Removal of Lancaster Bank Receiver Placed Before Judge Ramage. By the Associated Press. COLUMBIA, Sept. 1.-Removal of Ira B. Jones of Lancaseer as receiver for the First Bank & Trust Co. of Lancaster was asked of the courts today in hearing held before Judge C. J. Ramage, sitting in chambers at the capitol. The petition was brought by the county commissioners other Lancaster depositors of the bank. Judge Ramage took the matter under advisement. The petition was based on the allegation that Jones failed as receiver in not bringing suit to funds of the bank other hands and used dilatory tactics in settling the accounts. Arthur Gaston of Chester represented the petitioners. Attorneys for Jones, as receiver. were Harry Hines, Lancaster: P. Richardson Lancaster. and Claude N. Sapp and Allen Sapp of Columbia. receiver the bank after its failure July 24, 1929. He was within 30 days by majority of the depositors in session. Deposits of the bank when it failed were $400,000. and it was these which the receiver set out to bring to account Mr. Jones brother, the late Charles D. Jones. former senator, was presdent of the bank pettition on the same grounds and brought the complainants, asking Jones' removal from the was heard before Judge Mauldin, November 1929 The petition then was refused. Receiver Jones went on trial in the general court at Lancaster for of the state banking laws funds not properly delegated to him. Charges that he misapproprated $1 100 and used the money without counsent of twothirds of the stockholders. as required by law. were then A sentence fining $1,000 was delivered by the