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Washington, Sept. 20.-The Bates Nutional bank of Butler, Mo., was closed today by the action of the board of direc. tors, for the purpose of going into liquidation. T. W. Butler has ben appointed 88 receiver So far as the comptroller of the currency is advised, no charges of wrongdoing have been made.
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Washington, Sep't. 20.-The Bates National bank of Butler, Mo., has been closed by the action of the board of directors for the purpose of going into liquidation. T. W. Butler has been appointed receiver. So far as the comptroller of the currency is advised, no charges of wrong-doing have been made.
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Washington (Special). - The Bates National Bank of Butler, Mo., was closed by the action of the board of directors for the purpose of going into liquidation. T. W. Butler has been appointed receiver. So-far as the Comptroller of the Currency is advised. no charges of wrong-doing have been made.
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Bates National Bank, the Oldest Financial Institution in the Country, Enters Into Voluntary Liquidation.
Our people were greatly surprised on last Thursday morning to learn that the Bates National Bank, the oldest financial institution and only national bank in Bates county, had closed its doors and posted a notice signed by the directors that the bank had gone into voluntary liquid-ation and that every depositor and creditor would be paid in full. The Comptroller of the treasury was no-tified.
Saturday morning Wm. J. Butler, of Springfield, as receiver, and B. E. French, of Rolla, examiner, came in and took charge of the bank. It is expected that the receiver will make a statement of the condition of the bank in a short time.
At one time this bank was capita-lized at $125,000 with $26,000 surplus. The stock sold readily at $130.00, and it was considered one of the strongest financial institutions in this section of the State. But misfortune has seemed to attend it in the past twelve or fifteen years. The capital stock was reduced to $100,000 and the surplus wiped out. Then in a few years the capital was reduced to $75,000 and finally to $50,000 about three years ago. Then it was thought the bank had cleared up all its bad paper and was in a better condition than it had been for twenty years. Recently there had been under current rumors of disaffection among stock holders and directors, but the public was not prepared for the final result.
Of course no one on the outside has a full knowledge of the bank's condition, but gentlemen who have been permitted to pass on the notes, state that the assets will be suffi-cient to pay the depositors. Under the National banking act the stock-holders are made liable for an amount equal to the amount of stock they hold. It is thought prac-tically certain that the depositors and other creditors of the bank will be paid in full.
At the time of going to press, Mr. Butler, the receiver, informs us that his examination of the bank is in-complete and he is not at liberty to give out anything for publication.
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Mrs. C. W. Wolfe and daughter, Mrs. Andrew Simpson, visited her son, J. I. Wolfe, at Burlington, Kan., several days last week. They attended the Fair at that place, and report that they had a grand good time.
Julius Heckadon was at Aaron's Saturday afternoon. He is gaining slowly. He can walk alone and eat four meals a day, and is gaining in weight.
J. J. Wolfe has built a concrete water tank.
When the word reached Park Town that the Bates National Bank had closed its door, it caused some excitement, but business was only suspended for a short time, and the great whirlpool of business is going on now, as if nothing had happened. Nothing but on earthquake will disturb Park Town.
Walter Woody has done some good road work from Jones' to Huffman's. Walter is surely a good road boss. We believe it would be a good thing to have all the road bosses young men that travel the roads Sunday and Sunday nights with their fine teams and nice buggies as they know how to fix them, so the Sunday evening buggy ride will be an enjoyable affair.
Vest Bell, of Foster, visited John Sparks Sunday.
Geo. Adams will leave the first of the week for Oklahoma, where he will make his future home
Jundy, Draper and Adams returned home last week from Kansas, where they have been looking at the country.
John Sparks went to Rich Hill Monday with a load of pears.
S. E. Jones has bought up a nice bunch of calves.
Judge Wolfe's court is like the bank at Butler-the door is closed.
Mrs. Robt. McCann is on the sick list.
Aaron, Jr., received word from Aaron, Sr., and wife that they had reached their destination in Illinois safely and that they were well.
Mrs. Joe T. Whinery, who has been on the sick list, was able to be at Virginia Monday trading.
Clyde Denning and Miss Ethel Barr were united in marriage Wednesday, Sept. 19th, at the bride's home, Park, Kan., and they arrived at the home of the groom's father, Peter Denning, Friday, Sept. 21, where they will reside this winter. Miss Barr formerly lived near the Enterprise school house. Aaron wishes them a long happy and prosperous life.
Geo. Ruble's brother, of Ames, Iowa, is visiting him a few days. He is going from here to Rockville to visit his brothers, John and Dave. It has been a number of years since they have met.
Some say wheat sowed on Sunday
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Washington (Special).--The - Bates National Bank of Butler, Mo., was closed by the action of the board of directors for the purpose of going into liquidation. T. W. Butler has been appointed receiver. So far as the Comptroller of the Currency is advised, no charges of wrong-doing have been made.
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14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. Feb. 8.-Boliver County Bank, Cleveland, 3,000. Miss.; liabilities, $110.000; assets, Ft. Mar. 1-Southern Bank & Trust Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, Ill.; liabilities, $100,000. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis, appointed. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 28-Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler. Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. V. Chandler at Macomb, Colchester and Bardolph, Ill., closed for lack of ready cash.
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14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. Feb. 8.-Boliver County Bank Cleveland, Miss.: liabilities, $110.000; assets, $130,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, III.; liabilities, $100,000. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Roserve Bond Co., St. Louis, appointed. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 28-Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler, Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. v. Chandler at Macomb, Colchester and Bardolph, III., closed for lack of ready cash.
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14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. Feb. 8.-Boliver County Bank, Cleveland, Miss.; liabilities, $110.000; assets, $130,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. & Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, III.; liabilities. $100,000. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis, appointed. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 28- Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler, Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. V. Chandler at Macomb, Colchester and Bardolph, Ill., closed for lack of ready cash.
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14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. Feb. 8.-Boliver County Bank, Cleveland, Miss.; liabilities, $110.000; assets, $130,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, III.; liabilities, $100,000. May 2-Delment national bank, Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis, appointed. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 28-Real Estate Trust Co., of Philadelphia, suspends business: liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler, Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. V. Chandler at Macomb, Colchester and Bardolph, III., closed for lack of ready cash.
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14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. 18-G. S. McReynolds & Co., Chicago; liabilities, $400.000. Feb. 8.-Boliver County Bank, Cleveland, Miss.; liabilities, $110,000; assets, $130,000. 15-Bank of America, Chicago, placed in receiver's hands, 26-Cash Buyers' Union, Chicago, placed in receiver's hands Williamson Libbey Lumber Co., Oshkosh, Wis.; liabilities, $500,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 27-National Business College, Quincy, Ill., assigns; liabilities, $30,000; assets, $100,000. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, III.; liabilities, $100,000. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis, appointed. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 8-F. E. Coyne, ex-postmaster, Chicago, failed in bakery and luncheon business. 16-Garfield Park bank of Chicago closed as result of collapse of Milwaukee Ave. State bank. 28-Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler, Mo., closed by directors. -Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. V. Chandler at Macomb, Colchester and Bardolph, III., closed for lack of ready cash. Dec. 1-Bank of Kiowa, I. T., closed on account of slow collections and inability to realize on assets.
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14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. 18-G. S. McReynolds & Co., Chicago; liabilities, $400.000. Feb. 8.-Boliver County Bank, Cleveland, Miss.; liabilities, $110,000; assets, $130,000. 10-Bank of America, Chicago, placed in receiver's hands. 26-Cash Buyers' Union, Chicago, placed in receiver's hands Williamson Libbey Lumber Co., Oshkosh, Wis.; liabilities, $500,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 27-National Business College, Quincy, III., assigns; liabilities, $30,000; assets, $100,000. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, Ill.; liabilities, $100,000. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis, appointed. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 8-F. E. Coyne, ex-postmaster, Chicago, failed in bakery and luncheon business. 16-Garfield Park bank of Chicago closed as result of collapse of Milwaukee Ave. State bank. 28-Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler, Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. v. Chandler at Macomb, Colchester and Bardolph, Ill., closed for lack of ready cash. Dec. 1-Bank of Kiowa, I. T., closed on account of slow collections and inability to realize on assets.
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Receiver of Bates National Bank Makes Assessment on Stockholders to the Limit.
Stockholders of the defunct Bates National Bank have received notice from Receiver Butler of an assessment of $100 on each share. This assessment can be paid in four equal installments, on the 8th day of February, March, April and May.
This bank closed its doors on the 20th of September, 1906, more than four months ago. This is the first official information that has come to the public. The depositors and stockholders were led to believe by statements from the officials of that institution and others who had been permitted to examine the assets, that they were sufficient to pay the depositors in full and possibly some to stockholders. Many rumors since have prevailed that the receiver was about ready to pay dividends, some having the first payment as high as 75 cents and some as low as 25 cents.
Now the announcement that the stockholders have been assessed to the full capitalization of the bank, $50,000, before any dividends whatever are paid would indicate that the bank was in a very bad condition when its doors were closed. It is useless to further disguise that fact. It was very fortunate for the depositors that the bank was organized under the national banking laws, but it falls hard upon the stockholders, who not only have to lose the original investments, but must pay an additional amount equal to the face of their stock.
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Indictment Containing Eleven Counts Against Him Charging Misappiication of Funds to Extent of $15,000. By Associated Press. Kansas City, Mo., April 27.-The grand jury here today returned an indictment against Captain Flavius T. Tygard, charging misapplication of funds of the Bates National Bank, Butler, Mo., which suspended Sept. 1, last, and of which he was president, of the Masonic Home of Missouri Knights Templar Mo., of the Walnut Land and Coal Company, a corporation with large holdings of the Bates County Investment Co., and of several estates of which he was trustee. The indictment contains eleven counts and $15,000 are involved. Following the suspension of the bank, Tygard was declared insane and was confined in a sanitarium. He is seventy-four years old.
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A number of cases originating in the failure of the Bates National Bank were disposed of in the federal court in Kansas City last week. A large number of our citizens were called there either as interested parties or witnesses In the case of Butler, receiver, against Mrs I. N. Mains for assessment on the bank stock owned by the I. N. Mains estate, the court found for Mrs. Mains. Judgment was confessed against the Mains estate for $4,200. Judgment was rendered against the Bates County Investment Company for $4,800, and against Mrs. Josephine Porter for $600. The suit against the Ryan estate was continued.
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By virtue and authority of three general ex- ecutions issued from the office of the clerk of the circuit court of Bates county, Missouri, returnable at the May adjourned term 1907 of said court, and to me directed in favor of W J. Butler, Receiver of the Bates National Bank and against J. C. Clark, I have levied upon and seized all the right, title, interest and claim of the said J. C. Clark of, in and to the following described real estate to-wit: The southeast quarter of the southeast quar- ter of section 23, the southwest quarter of the southwest quarter of section 24, the northwest quarter of the northwest quarter of section 25, the north half of the southwest quarter of the northwest quarter of section 25, the north half of the southeast quarter of the southwest quarter of the northwest quarter of section 25, the west 1-4 of the east one-half of the north- west quarter of section 25, the northeast quarter of the northeast quarter of section 26, all in township 40 of range 31. Commencing one foot north of the southwest corner of lot two (2) in block 11 in the town, now city, of Butler, thence nerth 21 feet, thence east 130 feet, thence south 21 feet, thence west 130 feet to the place of beginning, being a part of lot two (2) in block 11 in the city of Butler. An undivided one half interest in and to the following described property, one foot off the south side of the north one-third of lot 3 and the middle 25 feet of lot three (3) and 21 feet off of the north side of the south one-third of said lot 3 all in block 10, in the town, now city, of Butler, also all interest in the brick walls on the north and south sides of said tract. Also a part of the northeast quarter of the northeast quarter of section 22, township 40 of range 31, described as commencing on the northeast corner of the northeast quarter of the northeast quarter of section 22, township 40, of range 31, thence, west 240 feet, thence south 30 feet to a beginning point, running thence west 300 feet, thence south 217 1-2 feet, thence east 300 feet, thence north 217 1-2 feet to the beginning point, excepting however a strip 76 feet wide off of the north side of said tract lying and being in the City of Butler, County of Bates and State of Missouri, and that I will on
Saturday, July 6th 1907, between the hours of nine o'clock in the fore- noon and five o'clock in the afternoon of that day, at the east front door of the court house, in the city of Butler, Bates county, Missouri, sell the same, or se much thereof as may be required at public vendue, to the highest bid- der for cash in hand to satisfy said execution and costs. C. F. BEARD, Sheriff of Bates County, MO. 33-ta
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By virtue and authority of three general executions issued from the office of the clerk of the circuit court of Bates county, Missouri, returnable at the May adjourned term 1907 of said court, and to me directed in favor of W. J. Butler, Receiver of the Bates National Bank and against J. C. Clark, I have levied upon and seized all the right, title, interest and claim of the said J. C. Clark of, in and to the following described real estate to-wit: The southeast quarter of the southeast quarter of section 23, the southwest quarter of the southwest quarter of section 24, the northwest quarter of the northwest quarter of section 25, the north half of the southwest quarter of the northwest quarter of section 25, the north half of the southeast quarter of the southwest quarter of the northwest quarter of section 25, the west 1-4 of the east one-half of the northwest quarter of section 25, the northeast quarter of the northeast quarter of section 26, all in township 40 of range 31. Commencing one foot north of the southwest corner of lot two (2) in block 11 in the town, now city, of Butler, thence north 21 feet, thence east 130 feet, thence south 21 feet, thence west 130 feet to the place of beginning, being a part of lot two (2) in block 11 in the city of Butler.
An undivided one-half interest in and to the following described property, one foot off the south side of the north one-third of lot 3 and the middle 25 feet of lot three (3) and 21 feet off of the north side of the south one-third of said lot 3 all in block 10, in the town, now city, of Butler, also all interest in the brick walls on the north and south sides of said tract. Also a part of the northeast quarter of the northeast quarter of section 22, township 40 of range 31, described as commencing on the northeast corner of the northeast quarter of the northeast quarter of section 22, township 40, of range 31, thence west 240 feet, thence south 30 feet to a beginning point, running thence west 300 feet, thence south 217 1-2 feet, thence east 300 feet, thence north 217 1-2 feet to the beginning point, excepting however a strip 76 feet wide off of the north side of said tract lying and being in the City of Butler, County of Bates and State of Missouri, and that I will on
Saturday, July 6th 1907, between the hours of nine o'clock in the forenoon and five o'clock in the afternoon of that day, at the east front door of the court house, in the city of Butler, Bates county, Missouri, sell the same, or so much thereof as may be required at public vendue, to the highest bidder for cash in hand to satisfy said execution and costs. C. F. BEARD, 33-ta Sheriff of Bates County, Mo
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, securing all the money and valuable papers in the vault. Dr. Julian F. Thomas, of New York, the Pommern, won the James purchased balloon which the German Gordon Bennett race at St. Louis. Palma in a at President statement the advanHavana called attention to a American rule and took for control of stand tage of permanent Cuba by the United States. men chloroformed Yegg the & station Valley agent of the Fort Wayne road at Upper Sandusky, O., and got away with $100 and 500 raMroad tickets. The president announced the following appointments for the new of Oklahoma: Western district H. Cotteral, judge; bry, and John -John state attorney, Abernathy, John Emmarshal. Eastern district-Ralph E. Campbell, judge; William Gregg, attorney, and Grive A. Porter, marshal. the Silas H. Reid was named judge of district court of Alaska. Vanderbilt has offered the Men's Newport Alfred G. Young Christian be erected association a new building to as a memorial to his father, the late of Cornelius Vanderbilt, at a cost $100,000. The losses by fire in the United States and Canada during the month Jourof October, as compiled by the nal of Commerce, aggregate $13,350,250. Henry E. Warner, of Boston, was ap. pointed receiver of the Arnold Print of works of North Adams, Mass., one the largest textile concerns in the country, by the United States circuit court at Boston. A fire in the Sioux City (Ia.) Journal building caused a loss estimated at between $55,000 and $70,000, with $53, 000 insurance. The editorial rooms and business office were saved. F. J. Tygard, president of the Bates it National bank of Butler, Mo., when failed September 20, 1906, was sentenced to five years in the penitentiary federal by Judge McPherson in the court at Kansas City. Albert Nerzlinger, on trial in St. Louis for blinding Mrs. Lena Wunsch by throwing sulphuric acid in her face, was found guilty by a jury and sentenced to 20 years in the penitentiary, the maximum sentence. An estate of approximately $4,000,000 was disposed of in the will of the late J. S. Polk, capitalist and steel railway promoter of Des Moines, Ia. The large property was equally divid- chiled among the widow and four dren. The threatened general railway strike in Great Britain was averted by an agreement between the railways and the union. The Royal society of Great Britain awarded the Copley medal to Prof. Albert A. Michelson, of the University of Chicago, for optical investigation, W. and the Davy medal to Prof. E. Morley, of West Hartford, Conn. Guy Condit, cashier of the First Na- attional bank of Kingfisher, Okla., tempted to kill himself by slashing his throat. He will recover. Anxiety over financial matters preyed upon his mind. Three arrests have been made at Madrid in the case in which it is charged $53,000 was obtained from the of Bank of Spain through the forging a check. Two of the men are officials of the bank. Attorney General Davidson of Texbehalf of the state of Texas against the filed as on suit alleged Standard subsid- Oil iary concerns of the for company in Texas for penalties forfeitures of charter. The New York banks began preparations to ship all available currency to the northwest to aid the movement of crops. Secretary Cortelyou directed funds that $3,000,000 of government be deposited in St. Paul and Minneapolis banks. The buoyancy of the stock market the ultimate decision of large bankers to reflected New York support Company the two of institutions-the Trust America and the Lincoln Trust com- to pany-which have been subjected United the most severe runs. The States Steel corporation secured a Coal controlling interest in the Tennessee be& Iron company and this, it was the lieved, would aid in relieving banks money stringency. Three small bankers in Kansas closed, and Denver decided to issue scrip. Gen. Horace Porter and Joseph H. Choate, two of the American ambassadors to the recent peace conference Both at The Hague, returned home. entireexpressed themselves as being the conly satisfied with the results of ference. The grand 'jury at Waverly, the Ia., which indicted 14 members of County Medical association, alleging violation of the anti-trust law, report-
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St. Louis Globe Democrat, 8th.
The Rich Hill Bank of Rich Hill, Mo., is not liable for the $4,000 worth of stock it held in the defunct Bates National Bank of Butler according to an opinion handed down by the United States Court of Appeals yesterday, affirming the finding of the Circuit Court. William J Butler, receiver for the Bates Nat'l brought suit against the Rich Hill Bank, Frank McVey and W. F. Tygard to recover a stockholders' assessment levied by the comptroller of currency, alleging that the Rich Hill Bank owned forty shares of $100 each in the name of Tygard as trustee; that the latter had the stock transferred to McVey, who, the petition alleged, was a farmhand in Tygard's employ and insolvent; that the transfer was made for the fraudulent purpose of avoiding the additional liability in said stock.
The Court of Appeals, in affirming the decision of the lower court, states that the petition of the plaintiff failed to allege the insolvency of the national bank at the time of the transfer and asserts that there is no evidence to show that the Rich Hill Bank or its officers had knowledge of the bank's insolvency at the time of the transfer.