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TWO BANKS SUSPEND OWING TO COLLECTIONS . Special by United Press Wire: Owensboro, Ky., Apr. 24: Because of poor collections the Owensboro Savings Bank and Trust Company and the Davies County Bank and Trust Company are declining to receive any more deposits and have suspended cash payments pending a The Owensboro re-organization. company has deposits of more than $1,000,000 and the Davies County Company has more than $700,000.
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KENTUCKY BANKS SUSPEND. Large Institutions Close Doore Pending Reorganization. Owensboro, Ky., April 24.-The Owensboro Savings Bank and Trust company and the Daviess County Bank and Trust company. are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions. The former has deposits of over $1,000,000, the latter $600,000.
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AN OLD KENTUCKY BANK CLOSES DOORS (By Associated Press.) Owensboro, Ky., Apr. 24.-The Owensboro Savings Bank & Trust Company, one of the oldest banks in Kentucky, and the Davies Countv Bank & Trust Company are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions. The banks are capitalized at $200.000 and have deposits of over a million dollars.
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Two Big Banks Suspend. Owensbore, Ky., April 24.-Two of the, largest banks in the city suspended today because of their inability to make regular collections. The deposits aggregate nearly $2,000,000. The bands are Owensboro Savings Bank & Trust Company, with a capital of $200,000 and deposits of $1,000.000 and Davies County Bank and Trust Co., capitalized at $50,000 and with reposits amounting to $700,000. The institutions will be reorganzed and reopened.
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Suspends for Reorganization. Owensboro, Ky., April 24.-The Owensboro Savings Bank and Trust company and the Davies County Bank and Trust company are declining to receive deposits and have suspended cash payments pending a proposed re organization of both institutions. The former has deposits of over. a million and the latter $600,000.
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COLLECTIONS POOR BANKS SUSPEND OWENSBORO, Ky., April 25.-Two of the largest banks in the city suspended yesterday because of inability to make their regular collections. Deposits aggregate nearly $2,000,000. The banks are the Owensboro Savings Bank and Trust Co. with capital of $200,000 and deposits of $1,000,000; and the Davies county Bank and Trust Co., captalized at $50,000 and with deposits amounting to $700,000. The institutions will be reorganized and reopened.
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TWO KENTUCKY BANKS CLOSE. Owensboro, Ky., April 24. - The Owensboro Savings Bank and Trust Company made application to Circuit Judge Birkhead for the appointment of a receiver to-day. It is capitalized at $200,000 and has deposits of more than $1,000,000. The Davies County Bank and Trust Company declined to receive deposits and suspended cash payments. It is capitalized at $500,000 and has about $600,000 in deposits. Both actions are said to be of a precautionary nature.
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TWO BANKS FAIL AT OWENSBORO Poor Business Caused Them to Close. THEY HOPE TO RESUME SOON Daviess County Deposit Bank and Owensboro Savings Bank the Ones. Pending a series of conferences of the stockholders of the Owensboro Savings Bank and Trust Company and the Daviess County Deposit Bank and Trust Company, both of the institutions have suspended cash payments and are refusing to accept any more deposits. A run was started on the Owensboro Savings Bank several days ago and while that was checked, the officials feared a repetition of the run would bring about a condition tha would be injurious not only to the stockholders but to the depositors as well. The officials of the Daviess County Deposit Bank give poor collections as the cause of their action. Both President Parrish of the Owensboro Savings Bank and President T. S. Anderson of the Daviess County Bank declare that reorganizations will be effected in a few days, and insist their banks will soon be open for business. The Owensboro Savings Bank has a capital stock of $200.000 with deposits according to the last statements of $1,088,838, while the Daviess County Bank has a capital of $50,000 with $600,000 deposits. The former bank is the third oldest financial institution in Owensboro and was organiz» ed in 1871 by T. S. Anderson, now president of the Daviess County Bank. Mr. Parrish, who is a native of Bullim county, took charge of the institution's affairs in 1900, though he has been associated with it since 1884. The officials of both institutions make the claim that the depositors will lose practically nothing. T. A. Pedley was appointed receiver of the Owensboro Savings Bank and Trust company by the circuit court Saturday, in the proceedings against that institution by the commonwealth, on relation of Ben L. Bruner, Secretary of State. Numerous expressions from stockholders and depositors indicate that satisfaction with Mr. Pedley's appointment is general. He has the unqualified confidence of the people of the county, both as to his ability as a banker and as to his integrity. A stiff fight was made by James H. Parrish, president of the bank, to prevent the appointment of Mr. Pedley as receiver and, failing in that a motion was made to have some one else appointed with him as joint receiver. Judge Birkhead, in ruling on the motion, said an objection to two receivers was the fact that the expense would be heavier than with one. "The sale of land," he said "would be a matter for the court to decide. The receiver will consult with the court on all matters of importance." The judge, himself, wrote out both the order and the bond, fixing the amount at $200,000, the largest legal bond ever required in Daviests county. It was signed by Mr. Pedley as principal, and he American Surety Company, by Sweeney Bros., agents, and C. M. Finn, resident autorhey, as surety. Several stockholders of the bank were interviewed Saturday afternoon, and they expressed themselves as being pleased with the appointment of Mr. Tedley. Said one stockholder: "Mr. Peley is the most competent man in Daviess County to have charge of the bank in its present condition. It needs a man
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Forced to Suspend. The Owensboro Savings Bank & Trust Company and the Daviess County Bank & Trust Company are declining deposits and have suspended cash payments pending a proposed reorganization of both institutions. Several days ago a run, due to false rumors, was started on the Owensboro Savings Bank, but this was stopped by the payment of all demands. The Daviess County Bank & Trust Company is capitalized at $50,000 and has deposits of about $600,000.
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BANK PRESIDENT UNDER ARREST Owensboro, Ky., May 19.-T. S. Anderson, president of the Davies County Bank and Trust Company, and James H. Parrish, president of the Owensboro Savings Bank and Trust Company, were arrested yesterday. Anderson is charged with appropriating $20,000 of the bank's funds to his own use and with receiving deposits when he knew the bank to be insolvent. Parrish was arrested on two warrants charging him with receiving deposits when he knew the bank was insolvent. Both waived examining trials and were bound over to the grand jury under $15,000 bond. Both banks recently assigned. Anderson once was president of a bank in Detroit, but the employment of a watchman Sunday night was against his religious scruples and he resigned and returned to Owensboro.
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The Owensboro Savings Bank and Trust Company and the Daviess County Bank and Trust Company, both of Owensboro, Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions.
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The Davis County bank of Owensboro, Ky., with deposits of $600,000, assigned, Henry Cline was named by court as assignee. The assignment followed the assignment of the Owensboro Savings Bank and Trust Company, with deposits of over $7,000,000.
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The Owensboro Savings Bank and Trust Company and the Daviess County Bank and Trust Company, both of Owensboro, Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institut one,
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It CRIMINAL PROSEn is CUTION BEGUN. g S Parrish and Anderson Arrese ted at Owensboro. d a Revelations of Receivers Cause d S Issue of Warrants and are Held under $15,000 Bonds. 11 d Owensboro, Ky., May' 18.-James H. Parrish. president of the Owensboro Saving Bank and Trust Company and T.S. Anderson. president of the Daviess County Bank and Trust Company, were both arrested yesterday as a result of the disclosures following the recent failures of the two institutions. Both men waived examination and were held under bonds of $15,000 each to await the action of the grand jury. Thirty-one years ago James H. Parrish began work as a clerk in the bank owned at that time by T. S. Anderson. He learned the banking business from Mr. Anderson. His advancement was rapid. In 1884 he purchased the bank from Mr. Anderson. The latter moved to Detroit, Mich., and opened a bank. The rise of James H. Parrish in the financial world was phenominal. A few months ago his bank had a capital stock of $200,000 and deposits of over $1,000,000. Mr. Anderson quit the banking business in Detroit a few years ago and returned to Owensboro and opened another bank. He. too, a few weeks ago, had deposits of $640,000. To-night, James H. Parrish,president and largest stockholder of the Owensboro Savings Bank and Trust Company, and T. S. Anderson,president of the Daviess County Bank and Trust Company, the teacher and the pupil, are both under bond of $15,000 to appear before the August Daviess county grand jury. Anderson was arrested on two warrants. One charges him with fraudulently converting to his own use $20,000 of the funds of the bank. The other warrant charges him with receiving deposits when he knew his bank to be insolvent. Párrish was also arrested on two warrants, both charging him with receiving deposits when he knew his bank to be insolvent. The arrest of Parrish and Anderson did not come as a surprise to the citizens of Owensboro. However, it created one of the most profound sensations in the history of the county. On April 24, a motion was made for a receiver for the savings bank. T. A.
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The Owensboro Savings Bank and Trist Company and the Daviess County Bank and Trust Company, both of Owensbore. Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions.
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LITTLE LEFT FOR CREDITORS FROM OWENSBORO BANK Owensboro, Ky., June 2.-(Special.)-T. A. Pedley, receiver of the Owensboro Savings Bank and Trust company filed a report saying the general creditors could not hope to realize more than 15 cents on the dollar. Many assets are valueless and few worth par.
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FIFTEEN CENTS ON THE DOLLAR About What the Depositors May Expect FROM DEFUNCT SAVINGS BANK Startling Disclosures Made In Report Filed by Receiver Pedley. The Owensboro Messenger says: T. A. Pedley, receiver of the Owensboro Savings Bank and Trust Compnay, filed his report of the condition of the defunct institution in the Daviess Circuit Court shortly after 4 o'clock Monday afternoon. If there were any of the depositors sanguine enough to expect that they would be paid even as much as fifty cent's on the dollar, their expectations will be shattered by the following statement in Receiver Pedley's report: "A careful estimate of the assets inclines me to the opinion that at least fifteen per cent. are absolutely worthless, that a much larger proportion are worth about ten per cent. of their face value, that not a very large proportion are worth twentyfive per cent. of their lited value, that a small portion are worth fifty per cent. of the value as listed and that only about ten per cent. can be realized upon alt par. So that on the whole, and upon the most generous estimate and under the most favorable conditions, general creditors can have little hope of realizing more than fifteen per cent. upon their claims, especially SO in view of the fact that about $13,000 in claims are of a fiduciary character and must be paid in full." So astounding are some of the revelations in Receiver Pedley's report that they would be hard to believe were it not for the fact that they are bore out on the books of the,bank. The Parrish debt, which was for a long time a matter of conjecture, shows up in the appalling sum of $135,000; the Deane debit, including the Deanefield Coal Company, at over $200,000; the T. S. Anderson-Underhill-Courtney-Rosman debt at $45,000. The receiver's report shows that the officers of the bank had, for many months past, exercised the ut* most ingenunity, energy and every facility to secure funds with which to keep the bank alive ,which fact is evidenced by over $300,000 of the assets being rediscounted or otherwise placed in hock upon such terms as would get money and gelt it quickly.
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300ST TO ASSETS OF DEFUNCT BANK. OWENSBORO, Ky., July 21.-T. A. Pedley, receiver of the Owensboro Savings Bank and Trust Company, has secured judgment in the Daviess circuit court against the Homestead Land Company for $43,3365. The action was on various notes which had been received by the company and discounted to the bank. Receiver Pedley filed an affidavit that if forth. with execution was not granted that he was liable to loose his debt and upon his motion the forthwith execution was granted.
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Only Ten Cents on the Dollar. Owensboro, Ky., June 20.-"The report made at the June, 1908, term of the Daviess Circuit Court stated that general creditors could expect not more than fifteen cents on the dollar for their claims. In the light of many things that have transpired since that time this estimate was too liberal. The amount paid will not exceed 10 per cent., if indeed it reaches that point." The proceeding is a declaration of T. A. Pedley, receiver of the defunct Owensboro Savings Bank and Trust Company. in a report made to the Daviess Circuit Court. The report says that it will require at least eighteen months longer before a distribution of any sort can be made.
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FUNDS TO MAKE SMALL SETTLEMENTS T. A. Pedley, receiver of the defunct Owensboro Savings Bank and Trust Company, reports that he has funds on hand to pay the unsecured depositors two per cent. He said he hoped to pay the depositors ten per cent at final settlement.
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Sheriff's Sale. By virtue of an execution issued from the Daviess Circuit Court in favor of T. A. Pedley, receiver of the Owensboro Savings Bank and Trust Company, vs. H. A. Williams, I or one of my deputies will on Monday, May 5, 1913, between the hours of 10 a. m. and 3, p. m. at the Court House Door in Hartford, Kentucky, offer for sale the following real estate situated in Ohio County Kentucky to satisfy the above execution, amounting to $349.20 with interest at the rate of 6 per cent from April 10, 1905, and also the further sum of $9:45 adjudged as costs. First-Beginning at a stone in S. J. Baker's line--Black Oak Sapling marked as a pointer. Thence North 36, East 57 poles to a stone in H. B. Taylor's survey, small post, oak, 8 feet from stone marked as a pointer. Thence with said Taylor's line South 80, West 51 poles to a stone Chestnut and Hickory marked as a
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# Sheriff's Sale. By virtue of an execution issued from the Daviess Circuit Court in favor of T. A. Pedley, receiver of the Owensboro Savings Bank and Trust Company, vs. H. A. Williams, I or one of my deputies will on Monday, May 5, 1913, between the hours of 10 a. m. and 3, p. m. at the Court House Door in Hartford, Kentucky, offer for sale the following real estate situated in Ohio County, Kentucky to satisfy the above execution, amounting to $349.20 with interest at the rate of 6 per cent from April 10, 1905, and also the further sum of $9:45 adjudged as costs. First-Beginning at a stone in S. J. Baker's line-Black Oak Sapling marked as a pointer. Thence North 36, East 57 poles to a stone in H. B. Taylor's survey, small post, oak, 8 feet from stone marked as a pointer. Thence with said Taylor's line South 80, West 51 poles to a stone Chestnut and Hickory marked as a pointer containing 25 acres. Second-Also a tract of 10 acres more or less in the same county and state and bounded as follows: Beginning at a stone in the Cromwell and Hardinsburg road, a white oak one pole West of same marked as a pointer. Thence South 74, East 43 poles to a post oak corner to J. P. Nelson's tract. Thence South 8 1-2 East 25 poles to a stone, white oak and black oak marked as pointer. Thence west 54 poles to a stone in the center of the Cromwell and Hardinsburg road, and with the same North 12, East 37 1-2 poles to the beginning, containing 10 acres, more or less, and being the same two tracts of land conveyed to S. J. Baker by W. A. Fielden and J. P. Fielden, his wife, on the 10th day of October, 1892, by deed of record in the Ohio County Court Clerk office in deed book No. 13, page 331, and the same tract afterward on the — day of — sold and conveyed by the said S. J. Baker and wife to the defendant, H. A. Williams, but no record of said deed of conveyance can be found in the Ohio County Court Clerk office. Third-Also a certain tract of land lying on the head waters of McGrady creek in Ohio county, Kentucky, and bounded as follows: Beginning at a black oak in Peach's line; thence South 39 1-4, East 26 poles to a stone, thence South 75 3-4, East 20 poles to a black oak. Thence South 72 1-2, East 30 poles to a Chestnut and Gum on a branch. Thence down said branch with its meanders to Adam line North 38, West 32 poles to a Schroader's line, thence with said line North 38, West 32 poles to a black oak on Sugar Grove branch, thence up said branch with its meanders to a poplar and beech-Chapezo and Clements corner-thence with this line North 56 West 94 poles to a post oak, Peach's corner, thenge South 8 1-2, East 61 poles to a hickory and red oak, thence South 53, West 60 poles to the beginning, containing 130 acres, less the amount of said land gained in the Ohio Circuit Court by G. W. Clements, supposed to be about 20 acres, and being the same tract of land conveyed by Mathias Miller and others to said, S. J Baker on the 21st day of January,