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Receiver Appointed For Andalusia National Bank ANDALUSIA, ALA., Oct. received today the Federal Washington that Thomas Dixon, the sia National Bank, which closed yesDixon was receiver for the First National Bank, Lapine, which dividend of 35 per cent deposand First National Bank which has dividends He National dividend probably will paid about Jan.
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STAR EDITOR MEETS BANK RECEIVER The editor of this newspaper had the pleasure of meeting Mr. Thos. W. Dixon, receiver of the Andalusia National Bank, yesterday, and we were given some first-hand news regarding what his policy is to be in the work of liquidating the closed bank. Mr. Dixon is already receiver for the closed banks at Brantley, Elba and LaPine, in addition to having charge of the local bank. This is evidence of the fact that the Comptroller of the Currency has every confidence in his ability both as a man and as an official in a responsible position. Our impression of Mr. Dixon is that he will win the favor of all who are interested in the closed bank, because he approaches the responsibility in manner that should win the confidence of the people with whom he will have to deal. Mr. Dixon states that it is his desire and purpose to handle the matter of liquidation in such manner as to serve the best interests of the depositors of the bank. "Not only is this my purpose and desire," said he, "but have definite instructions from Washington to pursue this policy in liquidating the bank." It can be seen, therefore that Mr. Dxon can better serve the depositors, better handle the assets of the bank and carry on the work more satisfactory in every respect if he is given the whole-hearted cooperation that he invites. He asks the public to be patient, because the nature of the work is such that the process will be long drawn out, and the time element is a factor in allowing the receiver ample opportunity to make the best showing possible out of the assets of the bank. There be many questions that you would like to ask the receiver, no doubt, but you may rest assured that you will be given all the information available regarding the situation at as early date as the interests of all concerned will warrant. The affairs of the bank are still in the hands of the Bank Examiner and will not be turned over to the receiver until his work is completed and his report to the Comptroller is ready to deliver. We feel that the patrons of this closed bank are specially fortunate in having its affairs turned over to Mr. Dixon for liquidation. He is a Southern man, a Democrat,, an Episcopalean and is thoroughly familiar with conditions is this section. He will approach the task with the idea in view of rendering a high order of service to many people here who, for the time being, have suffered material loss, when such loss is just a little harder to bear owing to general conditions throughout the whole country.
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Bank Receiver Now Ready To Meet Patrons Hon. Thos. Dixon. Receiver for the Andalusia National Bank, stated representative The Star that up his work checking the affairs of the Bank and that position to person any who has business connected the bank which he she may discuss Dixon wishes understood that desires give the fullest possible cooperation with the patrons this bank and is gratifying note that also proposes help possible those who will give wholehearted cooperation.
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Insurance Loan's Legality Assailed The right of the insured in a fraternal to pledge as collateral for loan his insurance to any bank or individual was questioned yesterday arguments before Charles Kennamer, of the U. District Court. The case that of Mary Lizzie Smith, et against Thomas receiver of the Andalusia National Bank In this case some years ago Cleveland D. Bean to the Andalusia Bank policy the of the World in which his life was insured for as collateral for loan. Subsequently the bank failed and died. later two named in the policy also died. The full face amount of the policy was paid by the Woodmen of the World to the bank receiver subject to the final order of the court, and the brothers and sisters of late Mr. Bean, headed Mrs. Smith, made formal claim for the insurance as the next of Counsel for the plaintiff argued that under the of the fraternal ganimation that the policy could not gally be pledged as loan. Defense counsel on the other hand the late Mr. Bean received loan on policy and that no was to drawn between loan on company policy and an old line company policy This the first time, insofar as could be learned. that the legality of loan on fraternal insurance policy has been questioned. The court took the under advisement and probably will issue an order within few The plaintiffs represented Attys. Boswell, Geneva, and A. Merrill, The defendant was represented by Whaley, Andalusia, and J. C. Fleming, Elba.