408e0bd9Full suspension, Books examined
Other: Receivership and estate litigation noted in later article.
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THOMASVILLE, Ga., Jan. 28.(P)-The Bank of Thomasville was closed today at the direction of Richard Forester, state bank examiner, in the face of an apparent run. The bank was capitalized at $150,000 with demand deposits of $498,558 and savings accounts and time certificates of $732.400 as of Jan. 7.
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WILCOX NAMED ESTATE RECEIVER Valdosta Attorney Appointeed Receiver of Watson Estate After HEARING AT K. prominent the county in the sented attorney yesterday of the of assembly for for the estate general receiver terms. stated this morning that Staten Watson, of Thom definitely would be after hearing before in the September primary Joseph H in He will also seek the post of court. The speaker pro tem of the house if county superior was held successful in the he The estate is worth approxi- he said. mately and was accumu- With the entrance of Mr. AshMrs. Watson's ley into the representative's by Arch of Thom- three persons now seeking the two posts which The Bank of Thomasville, now executor of Those listed as legislative defunct. named by Mr. Watson and just didates Mr. estate W Franklin attorney, and before the bank suspended businamed Judge Roscoe Luke Franklin of Thomasville, as the made formal announcement, ecutor. but it is generally Mrs Watson contends that the that he will be appointment of Judge Luke was illegal. and is trying to take the the office. control of the estate from the WILLIAMS QUITS hands of Judge Luke or the bank CONGRESSIONAL RACE She had about on deD. Williams of Dr. posit in the bank when closed ton. who had announced that The court order naming Mr would W. he oppose Wilcox receiver for the estate ford. incumbent. and other cangives him the authority with the didates for United States conorder the court, to demand of gress from this district anthe defunct bank. or the superinnounced today that he would tendent of banks or Judge Luke, not be candidate for the ofall assets of the estate now held fice them. and upon receipt of these Difficulty in financing assets hold them for instrue- Williams Dr tions of the court pending final his responsible for was litigation of the case. The order also named the CitiDr Williams issued the foland Southern Bank of this The lowing statement to depository for the today tate's funds, and orders that stitution honor the receiver's Eighth District: The order also provides "Owing financial crisis in that injunction granted hereto- which are now involved. against Judge Luke be find impossible to finance my tinued force until final hear- campaign for congress and must ing of the come out of the race for this The receiver also is ordered to time pay Mrs. Watson certain sums of money for herself and for her have practiced and who have daughter Gloria Watson stuck by me for the past quarThe appointment of Mr ter of century are now in such receiver is regarded dis- financial stress that victory for Mrs. Watson in fight to take the control of der Jones of Thomasville. and estate from the hands of the Lee Branch. Quitman bank or from Judge Luke. The case has attracted wide The legal controversy has been spread attention over the tSate waged in number of courts. and due to the great amount involved finally was brought to hearing before Judge Thomas upon agreement The hearing began last Friday and terminated yesterday afternoon Immediately after the hear ing Mr. Wilcox was appointed Hot iver. Mrs Watson was represented at the hearing by Wilcox, Connell Wilcox. of this city, and Jones, Jones Johnson Russell, of Macon. Judge Luke was represent by Theo of and the bank brought into the case represented by Alexan-