Commercial Bank of Morris Sharp & Company (Washington Court House, OH)

Article Text

RUN FORCES BANK TO CLOSE

Daugherty Banking Institution Over At Washington Closes Its Doors Of Farmers And Drovers Cause.

WASHINGTON H., May 12. Ohio State Bank of which M. Daugherty, brother of former attorney general of the United States Harry Daugherty, was president, was closed at noon today by state bank superintendent, officials said the closing sulted from heavy withdrawals of money by depositors which they attributed to recent closing of the Farmers and Drovers Bank. Superintendent Gray took immediate charge of the institution which had capitalization of $200,000.

The Ohio State Bank was formed three years ago by the consolidation of the Fayette County Bank, the Midland National Bank and the Commercial Bank, the latter of which Daugherty headed. The Midland National Bank figured prominently in the senate investigation of the leasing of the Elk Hills and Teapot Dome oil lands to private interests by the government. Closing of the Ohio State Bank leaves only one financial institution in operation in Washington It is the Washington Savings Bank.

COLUMBUS. May 12. Gray, state bank superintendent today that the closing of the Ohio State Bank at Washington H. resulted from "run" on the institution.

Article Text

DAUGHERTY BANK IS HARD PRESSED

COLUMBUS, O., May 12-A "run" on the Ohio State Bank of Washington Court house today caused officials of the State Banking Department to take charge of the bank shortly before noon M. S Daugherty brother of Attorney Harry M Daugherty, Columbus, who was Attorney General of the United States and a member of Pres. ident Warren G Harding's cabinet is president of the bank The bank had $200,000 in capital stock On March 27, last. when its last report of its condition was submitted to the State Banking Department, its resources totaled $2,626,890 O C. Gray, state banking superintendent: F. R Ambrose, assistant state banking superintendent, and Emmett R. Schurr state banking examiner, left here today for Washington Court House Officials of the state banking department said they did not know what prompted the "run" on the bank

Regular meeting Bucyrus Chapter No. 160 R. & A. M. Tuesday May 13th. at 7 p. m. Practice meeting after regular meeting. G R. Bevan H. P., J. N. Tay Sec'y.-Adv.

Hawkins, Chiropodist, Highway Hotel. May 7tr & 8th Ph. 5875 -Adv.

Article Text

DAUGHERTY BANK IN OHIO CLOSED AFTER HEAVY RUN

WASHINGTON COURT HOUSE Ohio State Bank was closed yesterday following heavy run on its funds. Headed by M. S. Daugherty, brother of former attorney general of the United States, Harry M. Daugherty the bank was capitalized at $200,000 and March 27 had reported its resources as $2,626,890.

Article Text

Close Bank Of M. S. Daugherty

Washington C. H., O. May (INS)-State bank examiners today labored over the books of the Ohio State Bank here, which was closed yesterday following a heavy run on its funds. Headed by M. S. Daugherty, brother of former Attorney General of the United States, Harry M. Daugherty, the bank was capitalized at $200,000 and March 27, had reported its resources as $2,626,890. The Ohio State Bank was formed three years ago by the consolidation of the Fayette County bank, the Midland National bank and the Commercial bank. The latter two concerns were headed by Daugherty then.

SOFT NECKLINES One's neckline must be soft or it isn't a 1930 neckline. Lingerie touches increase in number and variety and often frock has its own self-collar in addition.

Article Text

BANK RECORDS BEING CHECKED

STATE GOING OVER BOOKS OF BANK HEADED BY DAUGHERTY

WASHINGTON O., May bank texaminers today labored over the books of the Ohio State Bank here. which was closed yesterday following heavy run on its funds. Headed by brother of former Attorney Generof the United States Harry Daugherty, the bank was capital ized at and March had reported its resources at 890. This is the second bank to close here within the post three months. the Peoples and Drovers Bank hav ing closed its doors during that time. The Ohio State Bank was formed three years ago by the consolidation the Fayetfe county bank, the Midland National Bank and the Commercial Bank. The latter two concerns were headed Daugherty then. Gray, state banking direcordered the financial institution to close its doors when was notified of the heavy of funds. He heading of men here.

Article Text

M. DAUGHERTY BANK IS CLOSED AFTER HEAVY RUN

Ohio Officials Checking Accounts.

(Picture on back page.) Washington Court House, O., May C. Gray, state superintend. ent of banks, tonight was making check of the accounts of the Ohio State bank, which was at noon today after depositors had made heavy withdrawals. The was headed by M. S. Daugherty, brother of former United States Attorney General Harry M. Daugherty, and was formed three years ago by consolidation of the Fay ette County bank, the Midland Na. tional bank, bank, the latter two concerns being headed by Daugherty. Supt. Gray the closing the bank, which had capital stock of $200,000 and on March 27 reported The bank was in connection with the investigation of the Teapot Dome and Elk Hills oil which were made by the Harding administration at time when Harry Daugherty was serving as at torney general. part of the lease funds were alleged to have been deposited in the Midland bank here.

In the course of the government's investigation of the Dome oil case, M. S. Daugherty was ordered to produce records of deposits in the Midland National bank. He refused. The Supreme ruled that he must the order, by that time the investihad been closed and he never did produce the records.

Article Text

Daugherty Bank Forced to Close

W COURT HOUSE O. May 13 State bank examiners today labored over the books of the Ohio State Bank here. which was closed yesterday following A heavy run on Its funds. Headed by M 8. Daugherty brother of former attorney general of the United States. Harry M Daugherty the bank was capitalized at $200,000. and March 27 had reported its resources as

Article Text

STORMS BATTERING FRENCH PILOT

HEAVY RUN CLOSES DAUGHERTY'S BANK

But Mermoz Continues Flight Examiner Probes Closing of for Brazilian Coast. Big Institution in Ohio.

Trail Blazing Aviator Reports by Radio That His Cabin Filled With Water.

RIO JANEIRO, May 12 (AP) The French aviator, Jean Mermoz. flying the south Atlantic to open the first allair mail service from Paris to South America, reported at 9 p.m. tonight (8 p.m. eastern standard time) that he was in longitude 25.20 west and latitude 4.50 north. The aviator reported that the cabin of his airplane was flooded by heavy rainstorms through which he had passed. Visibility poor. but he had gotten out of the rainy area into better He said he was flying under low clouds and that the seas beneath him were heavy He is heading for Port Natal, The position he gave was roughly 700 miles northeast of his goal on the Brazilian mainland Apparently, judging by his previous position, he following the shipping route taken by steamers from Bahia to If Mermoz maintains the speed he expected to and he not held up by adverse winds, he should reach the Brazilian coast about a.m Tuesday morning (about a.m. eastern standard time).

Business Headed by Harding Cabinet Officer's Brother, Figured in Oil Scandal.

WASHINGTON COURTHOUSE O. May 12 (P).-O. C. Gray, state superintendent of banks. tonight was making check of the accounts of the Ohio State bank, which was closed at noon today after depositors had made heavy withdrawals. The bank was headed by M. S Daugherty brother of the former United States -general, Harry Daugherty, and was formed three years ago by consolidation of the Fayette County bank, the Midland National bank and the Commercial bank, the latter two concerns being headed by Daugherty Supt Gray ordered the closing of the bank. which had stock $200 000 and on March 27 reported resources $2,626,890 The Midland National bank was connection with the government probe of the Teapot Dome and Elk Hills oil reserve leases, which were made by the Harding administration at a time when Harry Daugherty was serving as attorney general part of the lease funds alleged have been deposited in the Midland bank here.

Article Text

Examining Records of Washington C. H. Institution Today

WASHINGTON C. H., O., May 13 State Bank Examiner today labored over the book of the Ohio State Paroled by Veitch Bank here, which was closed yesHarold Lees. of Perrysburg, was terday following a heavy run on B. O. BISTLINE Nearly 60,000 Australians died in released from jail Monday after- its funds. Probate Judge of said County. France noon when he was paroled by Mayor Headed by M. S. Daugherty.

Article Text

PAYMENT

Of $60,000 To State By Washing ton C. H. Bank, Now Closed, Is Ordered By Court.

Washington. C. H., Ohio, May 21(AP)-The Ohio State Bank today was ordered to pay to the State of Ohio, $60,000 deposited by the commonwealth before the bank closed its doors last week. The order was issued by Common Pleas Judge H. M. Rankin through whom H. Ross Ake, State Treasurer. made demand for the money, plus accrued Unless is paid, Ake is authorized under Ohio law to sell bonds deposited in the State Treasury by the bank to protect the money.

Article Text

MAL DAUGHERTY NAMED BY JURY

WASHINGTON COURT HOUSE, O., Oct. Fayette county grand jury investigating the failure of the Ohio State Bank and the Peoples' and Drovers Bank here today returned sixteen indictments, fiften of them against Mal S. Daugherty, former president of the Ohio State Bank and one against Virgil Vincent. local grain dealer and heavy borrower from the banks. Daugherty, brother of former Attorney General Harry M. Daugherty, came into prominence during the Teapot Dome oil reserve investigation when he refused to produce records of his bank for the senate committee which seeking funds alleged to have changed hands in the oil deal. Daugherty was indicted on fiftyeight counts, including charges of misapplication of funds, abstraction of funds, making false reports to agents appointed to examine the affairs of banks, and false reports on capital stock.

Article Text

DAUGHERTY Daugherty Out on Bond; Money From Own

COURT HOUSE, Oct. Daugherty, whose small town bank once the focus search for Teapot Dome oil money, drew attention again today result of his indictment the of the Ohio State bank. Daugherty probably will be raigned this week the indictcharging and of funds. He released yesterday after his arrest, bond sum amounts alleged embezzlement. The indictments accuse him loaning money on John converting the money to his use. Bankers said such transactions, involve borrowing money subterfuge. regulations prohibited Daugherty from borrowing his own failure the Ohio State bank. followed by two months the failure the only other bank in town, sulted in financial loss virtually family in the county. Many depositors lost their life savings. Despite this fact residents were slow condemn Daugherty meman old pioneer family that west in when Ohio frontier Everyone knew him and called him Mal just everyone his brother, Harry attorney general in the Harding administration, by his first name.

Article Text

Will Daugherty

Brother of Harding Cabinet Officer With Fraud.

Washington Court House, Oct. Daugherty. whose small town bank once the focus Senate search for Teapot Dome oil money. drew attention again today result his indictment in the failure of the Ohio State Bank. Daugherty probably will be arraignthis week on the 15 indictments charging embezzlement and misappropriation of funds. He terday after his arrest, on bond sum equaling the amounts of the alleged embezzlement. indictments accuse him of loanmoney on insufficient security to Daugherty, John Perrill, Thompson, Daugherty and others, checks and the money to his use. Bankers said such transactions, involve borrowing by money terfuge. Bank regulations prohibited Daugherty from borrowing in his The failure of the Ohio State Bank. followed by two months failure the only other bank in town, resulted financial loss to virtually family every the county. Many depositors lost their life savings. Despite this fact residents were slow condemn Daugherty, member an pioneer family that came West 1810 when Ohio frontier. knew him and called just called his brother. Harry Daugherty, Attorney General the Harding