1.
August 3, 1912
Atlanta Georgian
Atlanta, GA
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OFFICIALS OF FAILED BANK CHARGED WITH CRIMINAL LIABILITY AUGUSTA, GA., Aug. 3.-In a petition to the Richmond superior court, asking that a receiver be appointed for the Citizens Trust Company, Judge E. H. Callaway, attorney for the depositors, alleges that, the officials of the defunct institution are criminally liable. He says that the trust company received deposits on the day of its suspension, when the officers knew it was insolvent, and also that the officials of the institution loaned to one man more than ten per cent of the capital stock of the company without ample security, in violation of the banking laws of Georgia. Judge Henry C. Hammond will hear the petition on Monday. The officers of the Citizens Trust Company were: W. B. Pace, president; M. C. Dowling, vice president, and C. A. McFariane, treasurer. Pace claims that he was not responsible for the alleged criminal acts of the bank officials. as he was president in name only.
2.
August 6, 1912
Atlanta Georgian
Atlanta, GA
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ATTORNEY GENERAL SEEKS ANNULMENT OF BANK'S CHARTER AUGUSTA GA., Aug. 6.-Attorney General Thomas S. Felder, in behalf of the state of Georgia, has petitioned the superior court of Richmond county to annul the charter of the Citizens Trust Company on the grounds that it many times violated the penal and banking laws of the state of Georgia. Judge E. H. Callaway, in behalf of the depositors, asked that a receiver be named. Judge Hammond took the matter under advisement and named James P. Armstrong. cashier of the Irish-American bank, as receiver for the defunct institution. It is understood that the state bank examiner's report will show about $150,000 of notes and accounts that are uncollectable.
3.
October 30, 1912
Atlanta Georgian
Atlanta, GA
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# GRAND JURY PROBES
# AFFAIRS OF AUGUSTA
# BANK, NOW DEFUNCT
AUGUSTA, GA., Oct. 30. -The grand jury of Richmond county, now in session, has begun an investigation of the affairs of the Citizens Trust Company, a local concern with $100,000 capital, which failed several months ago. The creditors of the institution, including the depositors, lost more than $250,000 and not a cent has been received from receiver so far. It is believed that the depositors can realize only a few cents on the dollar.
It has been openly charged that the officers of the institution, violated the state banking laws by loaning D. H. Willard more than ten per cent of the capital stock without security.
4.
October 30, 1912
Atlanta Georgian
Atlanta, GA
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# GRAND JURY PROBES
# AFFAIRS OF AUGUSTA
# BANK, NOW DEFUNCT
AUGUSTA, GA., Oct. 30.—The grand jury of Richmond county, now in session, has begun an investigation of the affairs of the Citizens Trust Company, a local concern with $100,000 capital, which failed several months ago. The creditors of the institution, including the depositors, lost more than $250,000 and not a cent has been received from receiver so far. It is believed that the depositors can realize only a few cents on the dollar.
It has been openly charged that the officers of the institution, violated the state banking laws by loaning D. H. Willard more than ten per cent of the capital stock without security.
5.
January 21, 1913
Atlanta Georgian
Atlanta, GA
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FAILED AUGUSTA BANK MAY PAY 25 CENTS ON DOLLAR AUGUSTA. GA., Jan. 21.-The report of the receiver of the Citizens Trust Company has been rendered and it shows that the depositors will get 25 cents on the dollar if no priority claims are allowed. If the priority claims are allowed, the depositors will get nothing. The liabilities of the defunct institution are $186,000. Hundreds of Augustans lost money when the company was placed in the hands of a receiver last August. The grand jury, which is now in session, is expected to investigate the failure.
6.
February 25, 1913
Atlanta Georgian
Atlanta, GA
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AFFAIRS OF FAILED AUGUSTA BANK GET IN FEDERAL COURT AUGUSTA, GA., Feb.' 25.-No disbursement of the assets of the Citizens Trust Company will be made by Receiver J. P. Armstrong until after March 17, for on that date Judge Emory Speer will hear a petition for a permanent injunction on the part of the stockholders of the Interstate Trust Company of Aiken, asking that the assets not be disbursed to the depositors. B. Sherwood Dunn, president of the Interstate company, is behind the movement. A temporary restraining order has been granted by Judge Speer in Savannah. The Interstate company is also in the hands of a receiver. A hearing was held before Judge Henry C. Hammond, of the Richmond superior court, in which certain legal phases of the matter were discussed, but Judge Hammond did not order a distribution of the assets. Receiver Armstrong has collected enough money to pay ten per cent dividend to the creditors and depositors. Dunn, D. H. Willard and S. H. Myers, three of those indicted last week by the Richmond county grand jury in connection with alleged fraud, have not yet been arrested.
7.
February 25, 1913
Atlanta Georgian
Atlanta, GA
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AFFAIRS OF FAILED AUGUSTA BANK GET IN FEDERAL COURT AUGUSTA, GA., Feb. 25.-No disbursement of the assets of the Citizens Trust Company will be made by Receiver J. P. Armstrong until after March 17, for on that date Judge Emory Speer will hear a petition for a permanent injunction on the part of the stockholders of the Interstate Trust Company of Aiken, asking that the assets not be disbursed to the depositors. B. Sherwood Dunn, president of the Interstate company, is behind the movement. A temporary restraining order has been granted by Judge Speer in Savannah. The Interstate company is also in the hands of a receiver. A hearing was held before Judge Henry C. Hammond, of the Richmond superior court, in which certain legal phases of the matter were discussed, but Judge Hammond did not order a distribution of the assets. Receiver Armstrong has collected enough money to pay ten per cent dividend to the creditors and depositors. Dunn, D. H, Willard and S. H. Myers, three of those indicted last week by the Richmond county grand jury in connection with alleged fraud, have not yet been arrested.
8.
July 13, 1913
Atlanta Georgian
Atlanta, GA
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Orders Dividend Paid To Bank's Creditors Judge Hammond Directs Distribution of Citizens Trust Funds at Augusta. AUGUSTA, July 12.-Lacking about a week of one year from the time the Citizens Trust Company went into the hands of a receiver, an order to-day was passed by the Superior Court for a distribution of the assets of the defunct concern. Judge Hammond directed that a dividend of 20 per cent be paid on liabilities amounting to approximately $174,000. The receiver reported that he had collected approximately $40,000, and about $2,500 of that amount is due for taxes to city, State and county. Also the receiver and his attorneys must be paid. The court ordered the 20 per cent dividend paid, even though the entire amount In the hands of the The receiver will be exhausted ceiver, J. Armstrong, expects to collect some additional money, although just how much can not as yet be ascertained.
9.
July 13, 1913
Atlanta Georgian
Atlanta, GA
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Orders Dividend Paid To Bank's Creditors Judge Hammond Directs Distribution of Citizens Trust Funds at Augusta. AUGUSTA, July 12.-Lacking about a week of one year from the time the Citizens Trust Company went into the hands of a receiver, an order to-day was passed by the Superior Court for a distribution of the assets of the defunct concern. Judge Hammond directed that a dividend of 20 per cent be paid on liabilities amounting to approximately $174,000. The receiver reported that he had collected approximately $40,000, and about $2,500 of that amount is due for taxes to city, State and county. Also the receiver and his attorneys must be paid. The court ordered the 20 per cent dividend paid, even though the entire amount in the hands of the receiver will be exhausted The ceiver, J. Armstrong, expects to collect some additional money, although just how much can not as yet be ascertained.
10.
July 13, 1913
Atlanta Georgian
Atlanta, GA
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Orders Dividend Paid To Bank's Creditors Judge Hammond Directs Distribution of Citizens Trust Funds at Augusta. AUGUSTA, July 12.-Lacking about a week of one year from the time the Citizens Trust Company went into the hands of a receiver, an order to-day was passed by the Superior Court for a distribution of the assets of the defunct concern. Judge Hammond directed that a dividend of 20 per cent be paid on liabilities amounting to approximately $174,000. The receiver reported that he had collected approximately $40,000, and about $2,500 of that amount is due for taxes to city, State and county. Also the receiver and his attorneys must be paid. The court ordered the 20 per cent dividend paid, even though the entire amount in the hands of the receiver will be exhausted The ceiver, J. Armstrong, expects to collect some additional money, although just how much can not as yet be ascertained.
11.
July 13, 1913
Atlanta Georgian
Atlanta, GA
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Orders Dividend Paid To Bank's Creditors Judge Hammond Directs Distribution of Citizens Trust Funds at Augusta. AUGUSTA, July 12.-Lacking about a week of one year from the time the Citizens Trust Company went into the hands of a receiver, an order to-day was passed by the Superior Court for a distribution of the assets of the defunct concern. Judge Hammond directed that a dividend of 20 per cent be paid on liabilities amounting to approximately $174,000. The receiver reported that he had collected approximately $40,000, and about $2,500 of that amount is due for taxes to city, State and county. Also the receiver and his attorneys must be paid. The court ordered the 20 per cent dividend paid, even though the entire amount in the hands of the receiver will be exhausted The ceiver, J. Armstrong, expects to collect some additional money, although just how much can not as yet be ascertained.
12.
February 25, 1914
Atlanta Georgian
Atlanta, GA
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Ex-Receiver Is Sued For Funds of Bank AUGUSTA, Feb. 25.-Suit has been filed by attorneys for Bryson Crane, receiver of the Citizens Trust Company, against J. P. Armstrong, former receiver, and the United States Fidelity & Guaranty Company. surety, for $16,210.15. which it is alleged Armstrong is short. The disclosures, showing that the Irish American Bank, of which Armstrong was cashier, has a deficit of nearly $300,000, has caused a sensation in Augusta.