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Washington State Bank, Hempstead County, Reopens Two Other Banks Are Turned Over to National Bank Examiner For Liquidation the and directors National Bank at Holly turned over Bank Examiner The Washington bank suspended five days Jan The Board rectors of the Pint Bank president 29 today that the bank could not the the Bank for reopening and the bank to the liquidation
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SOUTH CAROLINA BANK BEGINS LIQUIDATION The Farmers Bank of Chappells today began voluntary liquidation with the approval of the state banking department. Following a meeting of stockholders yesterday an announcement was issued requesting depositors to draw out Bendix their money. Every depositor and creditor will be paid in full without delay, the anBloomingd The bank, capitalized said. at $15,000, has Bohn deposits of $50,597.36. ARKANSAS BANK CLOSES AS ANOTHER REOPENS LITTL ROCK. Ark., Jan. -(AP) One bank which suspended five days ago reopened and another closed State Bank Commissioner Walter E. Taylor The Washington State bank at opened with the same officers and directors. The First National bank. of Holly Grove, in Monroe county, turned its affairs over to the national bank exThe First National at Holly Grove had capital and surplus $32,500 deposits about $75.according to T. M. Dearing, as sistant cashier. BANK IS TURNED OVER TO EXAMINERS ROGERS. Ark., Jan. board directors of the First National bank. whose president, Edwin Jackson, committed suicide Decem- Caterpil ber 29. decided at meeting today the Cavan bank could not meet the requirements of national bank for opening and was turned over the comptroller of the currency for liquidation. Mr. Jackson was found dead in his home with a bullet wound in the head. TROY. NORTH CAROLINA, BANK CLOSES DOORS TROY N. C., Jan 9. The the only financial institution in Troy, closed its doors notice said the action was taken for protection depositors The bank was capitalized at $60,000.
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Bank Suspensions. LITTLE ROCK, Ark., Jan. 9 (AP).One bank which suspended five days ago reopened and another closed today, State Bank Commissioner Walter E. Taylor The Washington State bank at Washington, Hempstead county. reopened with the same officers and directors. The First National bank, of Holly Grove, in Monroe county. turned its fairs over to the national bank examThe First National at Holly Grove had capital surplus $32,500 and deposits of about $75,000. according to D. M. Deering, assistant cashier. CHAPPELLS, S. C., Jan. 9 (P).-The Farmers bank, of Chappells, today began voluntary liquidation with the approval of the state banking department. Following meeting of stockholders yesterday was issued requesting depositors to draw out their money. "Every depositor and creditor will be paid in full without delay," the anThe bank capitalized at $15,000, has deposits of $50,597.36.
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EAST TENNESSEE BANK RECEIVER STARTS WORK Riley Will Not Say If Depositors Will Get Dividend From Institution. (STARTS ON PAGE ONE) Riley asks that those who can get along now without getting into boxes do their He added that under no cir. cumstance will person be permitted to open his box who owes the bank anything directly or indirectly or is a stockholder, without first paying his indebtedness. In the case of a stockholder, this indebtedness will amount to 100 per cent assessment on the stock, the the call has not yet been made. The receiver's task is to set up an organization. He will give employment to about 50 of the former employes of the bank How long this work will last is indefinite. Brings in Two He is bringing in from the outside two experienced helpers. his chief clerk from Pine Bluff. Ark. and a young lady from Chicago. They are expected here by Mon- day The new organization will at once begin verifying the books and accounts. and make a definite list of the assets and liabilities. This will take from four to six weeks. Mr. Riley said people who owe the bank cannot offset their loans with deposits unless the collateral they put up for their loans has not been pledged to the R. F. C. or the Federal Reserve. He added that inasmuch as most of the collateral had been so pledged, there would not be much off-setting. Native of Nebraska Mr. Riley is native of Lincoln, Neb. Now 55 years old. he has been in banking business continuously for 33 years, 20 years in private banking and the last 13 for As the private government. banker. he said he was "everything from porter to managing editor In 1920 he was made a bank examiner and continued at that until 1925 when he was transferred to the insolvency division of the U. S. Comptroller's office. Since then he has been receiver for closed banks in Colorado, North Dakota, Nebraska and ArHe was transferred from closed bank in Nebraska to Pine Bluff. Ark., in August of 1930 to become receiver for the National Bank of Arkansas. Three months later his wife died. Reorganized Banks In addition to acting as receiver in Pine Bluff he had charge the First National Bank at Holly Grove, Ark. and the First National at Lake Village, Ark. He reorganized both of th m, reopened them. and they are both now running. He also in charge of the Interstate National Bank at Helena, Ark. Of his five children three are boys and two are girls, ranging