9d7e26c4Full suspension, Books examined
Other: Comptroller of the Currency appointed a receiver (wind up affairs).
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Morristown Bank's Affairs Placed in Comptroller's Hands Morristown First National Morristown and having more turned to the comptroller the cur rency notice posted on the doors action taken the board of rectors "after due deliberation and for the protection of the depositors following substantial withdrawals during past three The was Bushong The bank was established closing leaves one bank the Hamblen National bank
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RECEIVER FIRST BANK Receiver John W. Simpson from Greensboro, N. has been named by the Comptroller of the Currency to wind up the affairs of the First National Bank of this city which closed its doors Tuesday morning of this week. Mr. Simpson when interviewed this morning at the bank stated that it was too soon to make any statement concerning matters pertaining to the bank. He arrived in the city yesterday evening and stated this morning that Mrs. Simpson would arrive in Morristown this afternoon to join him. Mr. Simpson former president of the Atlantic Bank & Trust Company of Greensboro, and also of the Greensboro Joint Stock Land Bank. He has acted receiver for a number of both state and national banks in North Carolina. It was made clear by Mr. Simpson that until he had time to get grasp on the affairs of the closed First National Bank that he would be in no position o answer questions. He states that only in exceptional cases where distress would be avoided could he grant permission to access of safety deposit boxes in the bank. Pending a check up on liabilities of safety deposit box holders in relation to their connection with the closed institution, Mr. Simpson stated that no such permission would be granted. It is understood that no attorneys have as yet been appointed by the Comptroller of the Currency to assist Mr. Simpson in liquidation of the bank.
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BANK REOPENS Rutledge Suspension to Be Lifted Today. RUTLEDGE. Feb. 1-The Citizens Bank Trust Co., which gus. pended business January 24, will reopen tomorrow, Cashier C. B. Cabbage, announced tonight. The bank suspended under state laws after closing the East Tennessee National Knoxville and the First National bank in Morristown. Officials said this action was of deand to avoid the effects of caused by the failures. Over 95 per cent. of the Rutledge bank's depositors have signed an agreement not to take any of the bank for 90 days and then to accept five per cent. of their total deposits. Five per cent. of deposits will be paid every 90 days those wanting their cash, Cabbage said. "We have had wonderful cooperation from depositors expect few if any to take their money of the bank when the five per cent. refunds come due. In fact we have been by majority of them that the cash will be left in the bank, which is in every respect,' said. This is the second of several banks to reopen after closing avoid hysteria' after the failure of the East Tennessee in Knoxville. Maynardville State bank at Maynardville was the first to resume business. ENTERS OFFICE ATHENS, Tenn. Feb. Boyd Wilkins, recently appointed clerk and master for IcMinn county by Chancellor T. Stewart, was inducted into office today. County Court Clerk John E. administered the oath. Mr. Wilkins succeeds Latham, who has been serving the pired term of her late husband. ducted Thursday at 2 m. at Little Emory church. The Rev Mr. Chaney, Harriman, will officlate. Burial will take place in Harriman. MRS. LUCY SPEARS CHARLES Lucy Spears Charles, died at the home of her daughter, Mrs. Minnie Hale, at p. m. today, following a lingering illness. Funeral services will be conductfrom the M. church, South, Thursday at m. Interment will be in the cemetery. Surviving besides the one daugh ter J. Charles, of Flora Home, Fla, RILEY ADAMS CROSSV Feb. Funeral services were at Orab Orchard for Riley Adams, 83. who died Rockwood hospital He the oldest Mason Cumberland county, having joined Crossville Lodge No. 483 more than 60 years ago. His widow and one daughter survive. MRS. LUCY BEELER services conducted yesterday from the Block Springs Baptist church for Mrs. Lucy Beeler, who died Sunday Burial was in the church cemetery. MRS. ALLIE VALENTINE ELIZABETHTON. Feb. Mrs. Allie Valentine, 32. of Cosby, Ten.n. died at the home of her parents. Judge Mrs. L. B. Morley, of
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INTEREST OF FIRST NAT. BANK OPENING Officers of the Citizens' and Depositors' Committees which have been working to re-open the First Na. tional Bank in this city, today issued the following statement, calling attention to meeting to be held tonight at 7:30 in the city hall: "The opening of the First National Bank of Morristown is much nearer today than at any time since has been closed. However, there still more work to be done. The quicker this work is done, the sooner the bank will be opened. All committees and interested parties urge the whole-hearted support of the entire community in the project of getting into circulation the large amount of funds that are not availthe closed institution. "In order to further perfect, the plan towards opening of the interested citizens and depositors are urged=to be present at meeting tonight (Tuesday) at 7:30 at the City Hall. Several bankers and out-of-town citizens will be present and we sincerely urge all business concerns to be represented at this meeting. "Be sure to be at the City Hall tonight at 7:30."