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TWO RECEIVERS ARE APPOINTED in THE CASE OF THE MORIBUND BANK OF THAT CITY. LEGAL COMPLICATIONS First National Bank is Prevented From Becoming Assignee of De. funct Inc Atution-Brunowick Attorneys in Big Case. This from the Savannah Press of yesterday will be of interest in the tanking circles of this city generally; "The petition of Jesse Thompson ad others against the Bank of Way97098 and the First ational Bank of Waycross for injunction and reseiver. which was assigned for a searing before Jadge Cann today was settled by agreement before the is rates came before the court. The court appointed A. M. Knight with Waycross. cashier of the First National Bank. and William M. Dawant of Savannah, cashier of the deferenants' National Bank, co-recelvare of the Bank of Waycross. Boud was fixed in the sum of fifty thousnd dollars. the bond to be a cost of was administration. Mr. Davant amed in the place of Mr. J. M. Cox Waycross. whose name was suggested as a receiver The court said it might be better to have one disinterested party for a receiver. and substituted for the name of Mr. Cox that of Mr. Davant. The defendants in the petition for receiver and injunction agreed to the appointment by the court of a TO reiver. The attempted assignment of the Bank of Waycross to the First National Bank of the 23rd of Novemher was declared null and void when the receivers were appointed. The Bank of Waycross and the First National Bany of Waycross are nd restrained from disposenjoin of the assets of the Bank ng of ross or in any way interfer123 2 the business of the bank. Th elvera are directed to proDect all the notes, acof the Bank of Waycross cot e the assets of the bank 20 rapidly as is consistent st interests of all partes Cannot Take it Over. nder the terms of the order the is rst Natonal Bank of Waycross prohibited from taking over any of the accounts of the Bank of Waycross or in attempting to carry out the terms of the deed of assignment made in November, when the an nouncement was made that the two institutions had consolidated. The capital stock of the Bank or Waycroes up to July first, last year, was seventy-five thousand dollars, at which time is was increased to doub le that amount. About four hundred thousand dollars are involved alto. gether. which makes this one of the most interesting bank failures In the state recently When an attempted assignment was made to the First National Bank CII November twenty of third the officials of the Bank Waycross turned over Just sixteen dollars and seventy-nine cents in cash as assets. The depositors have been "clamoring for a hearing since that time. There was two hundred thousand dollars on deposit in the bank short. ly before the alleged consolidation took place. The stockholders have lost all they had in the bank. Mr. H. G. A. Nash, an expert accountant of Savannah, spent some time in Waycross looking over the affairs of the Bank of Waycross His report was turned over to the receivers and will be considered by them. As soon as possible the receivers will make out an inventory of the liabilities and assets of the Bank of Waycross and turn it over to the judge of the superior court. those present at the hearMyers and Bennett and ing cross. Among were Conyers Parks of of Bruns- Way attoineys for petitioners for rewick Lamb
