0e8e0db7Full suspension, Books examined
Other: Receiver appointed; bank closed and placed in receivership.
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Clinchport Bank To Have Receiver Ritchie. state bank examiner. was in Clinchport today with authority to appoint for the Farmers and Merchants' Bank of that city which its doors yesterday It learned today from M. E. Brislow. deputy commissioner of banking and It was understood that on the bank was attempted before the closing No details of the cause for the
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CLINCHPORT BANK'S FUTURE UNCERTAIN May Be Liquidated, Reorganized, or Taken Over by Another Bank Uncertainty as to whether the Bank of Clinchport, Virginia, which failed to open its doors to business Thursday morning, will liquidate its assets and go out of business, or be reorganized, or be taken over by some other banking firm, was expressed by the president of the bank, J. L. Q. Moore, in conversation with The Herald Courier by long distance telephone yesterday. Mr. Moore stated in addition that there has been no irregularity at the bank, and that the doors were closed only as result of a "run" on the cash of the establishment by depositors, suspicious after hearing false rumors of the unstable conditions of the bank's finances. state bank examiner arrived at Clinchport yesterday afternoon and immediately began an audit of the books, which, according to Mr. Moore, will prove the bank to be sound financially. The audit will probably consume several days' time. John Stone is cashier of the Bank of Clinchport which was capitalized at $25,000 and had deposits of approximately $200,000. The institution failed Thursday to open its doors. MAY NAME RECEIVER RICHMOND. Dec. 13. (AP)-L. R. Ritchie, state bank examiner, was in Clinchport today with authority to appoint receiver with the Farmers Merchants Bank which closed its doors yesterday, it was learned today from M. E. Bristow. chief deputy of banking and insurance. It was understood that run on the bank was attempted before the closing. "No details of the cause for the closing have been received here,' Mr. Bristow said. J. L. Q. Moore is president of the bank and John R. Stone is cashier. An order has been issued by the state corporation commission authorizing T. McCall Frazier, head of the state bureau of banking and insurance to arrange for the appointment of receiver "to take charge of the business, affairs and assets of the bank."
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Stockholders In Bank Seek New Liquidation Elizabeth City, C., Dec. 13.-A petition already bearing the signatures of many stockholders and directors in the closed Carolina Banking and Trust Company and asking that the Branch Banking and Trust Company of Wilson be designated as liquidator of the bank's affairs instead of the State Banking Department, is being circulated here The petition will be turend in to committee as soon as it has received the signatures of all the stockholders, and will be taken to Raleigh and laid before the State Corporation Commission. It is said that the stockholders are all eager to sign the petition and that the reason many have not paid up their is because they are hoping that the liquidators can be changed. BANK CLOSING INVESTIGATED Dec. Ritchie, State bank examiner. was Clinchport today with authority to point receiver for the Farmers Merchants Bank of that city, which closed its doors it was learned today from M. E. Bristow, State deputy of banking and insurance. It was understood run on the bank was attempted before the closing.
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TO NAME RECEIVER FOR CLINCHPORT BANK Richmond, Dec. 13 Ritchie, State bank examiner, was in Clinchtoday authority to appoint receiver for Farmers Merchants that which closed its was today from M. Bristow, deputy combanking and understood the bank attempted before the closing. "No details of the cause for the closhave been received Mr. Brissaid. Moore president bank and John R. Stone order has been issued by the State authorizing McCall head the State bureau banking and Into arrange for the appointment receiver "to take charge the business, and of assets the bank.
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Clinchport Bank Receiver Named Carter. has been appointed receiver to rthe Farmers Merchants bank, of Clinchport, which closed its doors few days ago, was announced today by M. E. Brislow deputy commissioner of the state bureau of banking and insurance. No reason for the closing. has been submitted to the state office. State Bank Examiner L. R. Ritchie is in Clinchport to make an investigation of the closing and is expected to forward & report this week to the state bureau of banking and insurance.
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FT.BLACKMORE BANK REQUESTS RECEIVER Assets of Institution Reported Frozen; Deposi'tors Fare Well GATE CITY. Va., Dec. 17. (Spl.) was announced here today that Bank of Port Blackmore at Fort Blackmore Scott county, had asked the Virginia state bureau of banking and insurance to take charge of the institution and appoint receiver to Equidate the business. It was stated that assets of the were "frozen." Dr. Groer is president of the bank and C. Johnson is cashier The bank was capitalized at $15.000 and has deposits of approximately $55,000. Depositors probably will be paid in full. stated CARTER APPOINTED RICHMOND Dec. 17. Carter has been appointed receiver for the Farmers Merchants bank of Clinchport. which closed its doors few days age. was announced today by Bristow deputy commissioner of the state bureau of banking and insurance. No reason for the closing has been submitted to the state officers. State Bank Examiner R. Ritchie is in Clinchport to make an investigation of the closing, and expected to forward report this week to the state bureau of banking and Insurance. AUTO TOTAL DECLINES WASHINGTON. 17. (AP) Automobile production in the United States for November was estimated by the commerce department today as amounting to vehicles, composed of care. and 46,518 trucks. The total compared with gross output of 257. 140 cars and trucks in November last year and with 380,011 cars and trucks in October of the present year. The United States government realized more than $500,000 from fur-seal and fox skins taken on Pribilof and Robben Islands during the season of 1928-20.
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RECEIVER FOR CLINCHPORT BANK Richmond, Dec. 18.-R. J. Carter has been appointed receiver for the Farmers Merchants Bank of Clinchport, which closed its doors a few days ago, it was announced today by M. E. Bristow, deputy commissioner of the State bureau of banking and insurance. No reason for the closing has been submitted to the State office. State Bank Examiner L. R. Ritchie is in Clinchport to make an investigation of the closing, and is expected to forward a report this week to the State bureau of bankink and insurance.