Merchants & Planters Bank (Henrietta, TX)

Article Text

HENRIETTA BANK RECEIVER NAMED

HENRIETTA, June 20. — W. J. Mangum of Henrietta was this morning appointed receiver of the Merchants and Planters Bank which failed to open its doors last Saturday.

The receiver has made his bond and is in charge of the bank. This bank was the county depositary to the amount of approximately $160,000.

No suit has yet been filed by the State and the receiver has not yet had time to compile a statement of assets and liabilities, but it is currently stated that the bank is hopelessly insolvent.

Article Text

Bank Receiver Named

HENRIETTA, Texas, June 20.—W. J. Mangum of Henrietta today was appointed receiver of the Merchants and Planters bank here which failed to open for business last Saturday. He made bond and took charge. The receivership was asked by the county commissioners, the bank having been county depository to the extent of about $65,000.

Article Text

Henrietta Bank Receiver Appointed

HENRIETTA, Texas, June 20.—W. J. Mangum of Henrietta today was appointed receiver of the Merchants and Planters bank here, which failed to open for business last Saturday. He made bond and took charge. The receivership was asked by the county commissioners, the bank having been county depository of $65,000.

Article Text

Henrietta Bank Receiver Is to Retain Position

W. J. Mangum. who has served as receiver the Merchants and Planters Bank of Henrietta since June 1923. will in charge of the affairs of the defunct bank despite the effort the part of Clay county to have him removed on charges of negligence and ineffiJudge P. A. Martin. of the 89th district court. following hearing on the ouster proceedings, ruled that the proof was insufficient to substantiate the allegations and de creed that Mr. Mangum should remain in charge as receiver The hearing was held Thursday in the 89th district court in this city, the case being transferred here by agreement because of the disqualification of Judge Vincent Stine of the 97th district court.

Article Text

COURT DENIES PLEA TO OUST BANK RECEIVER

W. J. Mangum Retained Despite Motion of Henrietta Creditors

The application creditors of the Merchants and Planters bank of Henrietta for the removal as receiver of the institution of W. Mangum was overruled Thursday afternoon Judge A. Martin of the 89th distriet was herd evidence presented not sufficient warrant Mr. Mangum's removal ceiver Appointed in June, 1923. He served received since June, 1923, when Judge Paul Donald trict court. Action him was brought grounds alleged mismanagement of the bank's affairs and inefficiency. Much the afternoon session of was devoted testimony creditors the bank and lengthy report from special auditor who to over the bank's books The Wichita county change out Judge Vincent Stine Henrietta was attorney representing the institution.