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Bank is Insolvent. Nashville, Tenn., Oct. 19.-The City Savings Bank, or City Bank and Trust Company, which went into voluntary liquidation last Saturday, is insolvent and its affairs will be administered and wound up under the direction of the Davidson Chancery Court. This decision was made this morning by Chancellor Allison in the case in which Mrs. B. L. Wood, a depositor, who sues on behalf of herself and all other creditors in like predicament, asked for a receiver.
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WILL WIND UP AFFAIRS OF NASHVILLE TRUST CO. By Associated Press. Nashville, Tenn., Oct. 19.-The City Savings Bank, or City Bank and Trust Company, which went into voluntary liquidation last Saturday, is insolvent and its affairs will be adminstered and wound up under the direction of the Davidson chancery court. This decision was made this morning by Chancellor Allison in the case in which Mrs. B. L. Wood, a depositor who sues on behalf of herself and all other creditors in like predicament, asked for a receiver.
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Banker Under Arrest. NASHVILLE, Tenn., Oct. 23.-M. P. Estes, president of the City Savings bank. which suspended last Saturday, was arrested late this afternoon on a warrant charging with receiving money when he knew the bank was insolvent. The warrant was sworn out bv Major W T. Otley of Burkesville, Ky.
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TOOK DEPOSITS TOO LATE Nashivlle, Tenn., Oct. 23.-M. P. Estes, vice president of the City Savings bank, which suspended last SatSurday, was arrested today on a warrant charging him with having received money when he knew the bank was insolvent. -
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Bank Receiver Resigns. Nashville, Tenn., Oct. 23-W. H. Green, one of the receivers named for the City Savings Bank, here, has resigned. He was assistant cashier of the bank. and takes this course in order to remove all friction in winding up the affairs of the concern.
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TENNESSEE BANKER ARRESTED. Nashville, Tenn., Oct. 23.-M. P. Estes, vice-president of the City Savings Bank, which suspended last Saturday, was arrested to-day on a warrant charging him with receiving money when he knew the bank was insolvent.
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Banker Arrested NASHVILLE, Tenn., Oct. 23.-M. P. Estes of the City Savings bank, which suspended last Saturday, was arrested today on a warrant charging him with having received money when he knew
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Banker Is Arrested NASHVILLE, Tenn., Oct. 23.-M. P. Estes of the City savings bank, which suspended last Saturday, was arrested late this afternoon on a warrant charging him with receiving money when he knew the bank was insolvent. The warrant was sworn out by Major W. T. Otley of Burkesville, Ky.
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BANKER ARRESTED. NASHVILLE, Tenn., Oct. 24.-M. P. Estes, vice president of the City Savings Bank, which suspended last Saturday, has been arrested on a warrant charging him with receiving money when he knew the bank was insolvent.
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BANKER ARRESTED. Nashville, Tenn., Oct. 23.-M. P. Estes, president of the City Savings bank, which suspended last Saturday, was arrested late this afternoon on a warrant charging him with receiving money when he knew the bank was insolvent. The warrant was sworn out by W. T. Otley of Burkesville, Ky.
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ESTES IS ARRESTED. Nashville, Tenn., Oct.. 23.-At. 3 o'clock this afternoon M. P. Estes, vice president of the City Savings Bank, which suspended last Saturday, was arrested on a warrant charging him with receiving money when he knew the bank was insolvent. The warnant was sworn out by W. L. Otley of Burkesville, Ky.
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Nashville Banker Arrested. Nashville, Tenn., Oct. 23.-M. P. Estes, vice president of the City Savings bank, which suspended .last Saturday; was arrested late this afternoon on a warrant charging him with receiving money when he knew the bank was insolvent. The warrant was sworn out by W. T. Ottley of Burkesville, Ky.
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BANKER IS AL ESTED WHEN BANK FAILS. NASHVILLE, Tenn., Oct., 23.-At 3 o'clock this afternoon. H. B. Estes, vice president of the City Savings bank. which suspended last Saturday. was arrested on a warrant charging him with receiving money when he knew the bank was insolvent. The warrant was sworn out by W. T. Otley, of Burkesville, Kv. Estes was arrainged before a magistrate who held him to the grand jury in $5,000 bond which was promptly furnisheh.
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BILL IS FILED TO RECOVER MONEY Nashville, Tenn., November 19.-Robert Vaughn, receiver of the defunct City Savings bank, today filed a chancery bill to recover certificates of deposits aggregating several thousand dollars, which Moreau P. Estes, vice president of the bank, is alleged to have shown to a person who doubted the solvency of the bank, to prove its stability, but of which no entry appears on the bank's books. The bill charges that Estes, at the time he was selected vice president of the bank, was a man of no property of any consequence, and that in a short time thereafter he became indebted to the bank in sums aggregating $90,000. Complainant charges that to secure Estes' indebtedness there is nothing of any value given and "the same will prove a total loss to said bank unless complainant can find some property which can be subjected to payment."
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national figure, standing out prominently as the most advanced representative of ability of the Negro to "do things" and to stop for no obstacle or hindrance. He is the pioneer in Negro hospital and infirmary work, and it is due largely to his energy and professional skill that Mercy Hospital, now a department of the Meharry Medical College, enjoys the reputation of being the best institution of its kind in the whole south. The fame of Mercy hospital is but a reflection of his own fame as a physician and surgeon, and it is no idle statement to say that Dr. Boyd is one of the leaders among the Negro physicians and surgeons of the country. It is not in medicine alone, however that Dr. Boyd has succeeded. He is perhaps, among the largest holders of real estate in the city and has a rating not to be despised among men of any race. City and country property is numbered among his holdings, and he is popular among the Negro people of the city to a degree not usually attained by successful men. Success in his individual business caused him to be placed at the head of the new Negro banking institution. The People's Savings Bank & Trust Co., and it is a credit to the Negro financiers of the city, to say that when the fever of unrest manifested by depositors in the city, because of the failure of the City Savings Bank, caused them to run on all the banks for their savings, the People's Savings Bank & Trust Company and the One Cent Savings Bank, of which Hon. J. C. Napier is the cashier, presented solid fronts and paid every depositor who wanted his money. As usual, when the depositors saw that these two banks had ample funds to meet all their obligations, the money was returned.
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Report on Defunct Bank. Nashville, December 2.-Receiver Robert Vaughn today filed a report showing the condition of the affairs of the defunct City Savings bank and incidentally stating that the depositors might look for the first prorate within the next six weeks. The indebtedness of Moreau P. Estes, vice president, is $93,761.96, all of which is practically unsecured. The indebtedness of A. S. Williams, president is $21,168.51, of which amount practically $18,000 is secured.
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QUESTIONABLE ACTS OF ESTES SHOWN IN RECEIVER'S REPORT / LIABILITIES OF CITY SAVINGS BANK WILL EXCEED THE ASSETS. MUCH OF THE LATTER it ORTHL SS Notes Given by the Late Vice President Were Either Fictitious or Had No Value-Only Small Sum on Hand at Date of Failure. Special to The Herald. NASHVILLE, Tenn., Dec. 2.-Receiver Vaughan's reports of the condition of the City Savings Bank was made public today. It shows among other things that the total amount of money deposited in the bank was $313,313.52; the amount on hand when the receiver took charge was $3,244.79. The total liabilities of the bank are $487,691.78. The total assets $570,425.05, but these assets are largely fictitious or at least without great value. They include personal notes for large sums, given by Mr. Estes on worthless collateral. The money borrowed by the bank from New York and Louisville banks was secured by collateral of greater values. A surplus from this source will be in the failed bank's assets. The report shows some rather questionable transactions on the part of Estes.
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DEFUNCT NASHVILLE. Receiver Vaughn Files Report With Court. Nashville, Dec. 2.-Receiver Robert Vaughn today filed a report showing the condition of affairs at the defunct City Savings Bank and incldentally stating that the depositors might look for the first prorate within the next six weeks. The Indebtedness of Moreau P. Estes, vice president. is $93,761.96, all of which is practically unsecured. The indebtedness of A. S. Williams, president, is $21,168.51, of which amount practically $18,000 is secured.
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# CITY SAVINGS BANK IS # SETTLED AT NASHVILLE NASHVILLE, Tenn., Oct. 14. (Spl.)- The famous City Savings bank case, which has been pending in the criminal court of Davidson county since 1909, was this morning disposed of by agreement between Attorney-General G. B. Kirkpatrick and attorneys of the bank. A verdict of not guilty was entered on the docket. Following the placing of the bank in the hands of a receiver and subsequent instructions, indictments were returned against M. P. Estes, A. S. Williams, former mayor of Nashville, and T. C. Baskette. The case has been on the docket ever since.