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Ball Ground And Fairmount Banks Suspend The Ball Ground Bank suspend:d business Tuesday and the Fairmount Bank failed to open Thursday. The controlling interest in the Bank of Ball Ground is owned by the Bankers Trust Co., which operates a chain of banks over the state, and we understand it was financial difficulties of theBanker Trust Co., that involved the small banks. The same company owned some stock in the Fairmount Bank. Thursday morning representative of the Progress asked Mr. R. L. McClain, vice-president of the Pickens County Bank, for an interview on local conditions as a result of the failure atBallG and he said: "Anything of this nature will naturally affect local-conditions to some extent, but the conditions in Georgia generally are excellent and it will not burt Georgia materially. Where banks are owned and controlled by loca people they will not be affected. "The closing of our neighbor bank was not in any way caused by local conditions, which are the best in the state, but was because this bank was owned and con: trolled by people who are not cit izens of this part of the country and have no interest in it except for what they could take out of the country. Only a fraction of the stock was owned by local people and the local officers were not sufficiently interestedto stand back of it with their own resources, and it was dragged down by the foreign owners when their speculations pulled them down. "As to our local bank it is and does at all times keep itself in condition not only to take care of its customers, but also in such liquid condition as to be ready for any condition that may arise. Every dollar of its stock is owned by Pickens county citizens and its funds are loaned to goodNorth Georgia people. Its officers and directors are local citizens of busi ness ability.character and means, who have lived here all their lives, and made their money and kept it here. We believe the people of this county know them well enough to know the bank's affairs are well administered. "Our deposits at this time are the highest they have been for several years for the summer and we have $75,000.00 in actual cash on band. "To show the confidence of our people in this bank, our deposits have increased $15,000.00 since the closing of our neighber bank."
