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FINAL REPORT RECEIVERSHIP AFFAIRS OF DEFUNCT FIRST STATE BANK OF MARCUS ARE CLOSED Receiver W. A. Haskins Makes His Final Report-Dividends Paid Amount to 281/2% When the final account and reof W. A. Haskins as receiver port the First State Bank of Marcus March of accepted after a hearing the af was it marked the finale of have 18, of that institution, which of litibeen fairs through a long period and laborious investigations declared ingation since the bank was In all, ever solvent December 15, 1914. 108 papers were filed in this L. case. C. Mr. Haskins and his attorneys credJesseph and L. B. Donley are in their with very efficient work benefit handling ited of the funds for the of the creditors and stockholders. "This bank was the most com- have robbed institution I pletely seen," said one of the attorneys of the ever in speaking of the history OrFirst State Bank of Marcus. in the year 1910 or 1911, ganized most of the stock owned his by with late C. W. Barringer and a the the bank went through transfamily, interesting series of robmost which culminated in a was actions of the institution which fake bery to have been a Bar- one alleged perpetrated by the president, of pubWith this, the light of ringer. was thrown on the affairs the licity bank and it was closed by be bank the examiner and found to completely wrecked. Charles J. Webb was appointed in for the defunct bank this receiver December, 1914, and acted in resiguntil the time of his when W. capacity in February, 1917, sucnation Haskins was appointed condition to A. him. The general the ceed the affairs of the bank at to of of its failure was such as its time the task of winding its up asbusiness render and realizing upon The slow and laborious task. kept, sets a had not been properly been books the correspondence had not Hunand after the year 1912. in a filed of letters were found of receipt. box, dreds placed there evidently in order his report, Mr Webb stated bad In the bank had been in a of that from the early period far condition To begin with, its history. much money had been invested equiptoo in the banking house and its bank The cost of the land, tobuilding, ment. furniture and fixtures, for gether with running expenses equal made a total about of the one year, entire capital stock stated corporation. to the The report attempt to there had been no necesthat practice that rigid economy small to maintain a bank in a did the sary and that at no time $40,total town, deposits amount to over C. W. and yet at one time were 000, Barringer, his wife and son all employed on salary. was alleged that, throughout BarIt history of the bank, Mr. nest the feathered his own the deand ringer of the welfare of The regardless positors methods stockholders. followed by Barclever to improperly turn sources would of income ringer to his private benefit, Most an interesting story. make this is well known to the public. of Premiums on insurance, commissions instiloans secured from other been on etc., were said to have income tutions, to better his private bank profmade instead of to increase the after the About three years Barrinits. was established, the organized bank Investment Co. was for many ger found convenient of actand was of which was that Mr. uses, one intermediary so commissions that ing as might collect the bank, Barringer loans really made by Other on by the company. supplied nominally to keep himself quesoperations funds included alleged and other with credits, notes checking transactions tionable in his personal The account. "robbery" was the climax occurred of these transactions and Mr. Barin all September, 1914, when atin ringer claimed that $2,239.60 He had been stolen. National cash to recover from the bank had insurance. tempted Surety Co., in which the Investigation burglary showed report there of had the been auditor no robbery. to it was the The company stated that made surety entries had been show in apparant order that that the books would