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THE BANK'S CAPITAL Was Largely Tied Up in Outside Enterprise. Many Emporia People Will Suffor Loss. Stated That Cross Carried From $40,000 to $75,000 Insurance Emporia, Nov. 17.-The bank failure, heels, and the tragedy following on its have naturally created great excitement the in this community. The topics street are corones discussed on the only in the stores and everywhere where ners, two or more are together. The general feeling has quieted down of today following the startling news great yesterday. There is, of course, of anxiety, but nothing whatever a violent nature is in evidence. The depositors hope to get everything full, although they realize it may and take in some time. Receiver Jobes Vice President Martindale are emphatic in their statements that the depositors, reand probably the stockholders will will their money, although there bank cover be delay before the assets of the may On be May realized 9. C. upon. S. Jobes, the National First examiner, first examined the bank bank National bank and reported the as to the government at Washington insolvent. In July another examination was made by A. H. Foreman, a special ex- afaminer from St. Louis. The bank's Mr. fairs were still complicated and Foreman gave them. through authority from the comptroller of the currency, imuntil November 1st to restore the pairment of the capital stock. The sur- bank plus and undivided profits of the have amounted to about $100,000. The capital stock of the institution is not impaired until the surplus and undivided profits are consumed. The capital stock was thus impaired seriously The bank failed to do what the government required by November 1st and the failure resulted. The Cross estate together with William Martindale, owned $60,000 of the stock. The remaining $40,000 is held by various persons in small amounts. One of the largest stockholders is Dr. J. A. Moore, who has 30 shares, or $3,000, and J. W. Johnson of Hamilton, Greenwood county, who owns nearly the same amount. The remainder is divided up into still smaller amounts among R. D. Thomas, H. H. White and D. M. Davis. Among the depositors are: Mrs. J. Eckdall, $100: W. R. Irwin, $100: J. A. J. Moore, $400: Haines Brothers, $600; S. Kenny, $2,500; John Henning, $2,500; J. W. Leifred, $1,200; the Ladies' Lecture Course association, $1,000; Miss Maynard, school teacher, $2,000; J. Morris, This cattle man man, lost $8,000. $8,000 in cash here. He sold cattle yesterday in Kansas City to the amount of $4,000. Suspicious information which he secured led Mr. Morris to wire Kansas City instructing them not to place the $4,000 to the credit of the First National bank of Emporia. He thus saved himself this amount. Others followed his example. Owing to the presence of the bank commissioner here for several days a number of depositors were suspicious and drawing out saved themselves in varous sums. A number of them not caring to excite suspicion drew out all of their money excepting small balances of $15 or $20. Many of them, however, had so much confidence in the Cross institution that they refused to protect themselves after they were warned that the bank was in a dangerous condition. There is an expression current in this community "as good as the Cross bank." It is used often by old time farmers in referring to the credit of men with whom they do business and the famers themselves by the failure of this bank will become the heaviest losers. The failure will reach a number of business institutions here in a small way because of the amount of notes and paper held as liens on implements, farming tools, etc. While no failures among the business people of this city are anticipated by reason of the bank closing, the closing of the bank will tie up a considerable amount of money The failure of the bank is assigned to two causes. First, possession of bad and real estate not ready sal because a able. paper Second, large amount of money belonging to the bank is said to be have been misdirected. The general accepted theory here of the suicide of Charles Cross is that aside from the humiliation, he took his own life to escape prosecution and possibly a term in the penitentiary. It is under stood that Mr. Cross invested in live stock interests money of the bank and of the Cross estate without intending to viclate any law yet in such a manner that the law has really been violated. A large amount of what bankers call accommodation paper has been used. For instance one loan of $10,000 to H. Leibfred and an additional amount to the same person loaned was made proswithout any apparent security or pect of recovery. The fact that Leibfred was interested in this way was developed at the recent trial in which he sought to gain from Mr. Cross the possession of an interest in Sunny Slope farm and to cause a receivership. Cross and the Cross owe C.S. supposed estate the bank $60,000. In this is to
