Bank of Newport (Newport, AR)

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Newport Bank Fails

LITTLE ROCK Ark., April 30.-The Bank of Newport, at Newport, Ark, falled to open for business today. It has deposits of over $100,000. The closing almost caused a panic in Newport business circles, as practically every house in the city was affected.

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BANK CLOSED

Its Failure to Open Monday Nearly Resulted In a Panic. Newport, Ark., May 1.-Bank of Newport did not open Monday. Following notice was posted on a door: "The directors have decided to clase until matters are adjusted." The bank, which is capitalized at $50,000 and has deposits of over $100,000. is one of the most prominent in the state. Asmets are not obtainable. The closing almost caused a panic in Newport business circles, as practically every house was affected. The trouble is supposed to have been caused by the failure of the bank to collect more than a $100,000 loan made to a manufacturing firm a year ago.

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Little Rock

Ark., April 30.-The - Bank of Newport, at Newport, Ark., failed to open for business today. It has deposito of over $100,000. The closing almost caused a panic in Newport business circles, as practically every house in the city was affected.

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CLOSES DOORS Bank of Newport, Doing a $300,000 Business, Fails. Newport. April 30.-The Bank of Newport, established in 1889, the oldest of the local banks, with deposits of nearly $300,000. closed its doors this morning. A placard announced its suspension with the statement that a receiever had been applied for.

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BANK OF NEWPORT CLOSES DOORS Reason Given for Suspension Is Large Loan Made Lumber Concern Which Has Suffereed Heavy Losses Recently. Newport, April 30. - The Bank of Newport established in 1889, the oldest of the local banks, with deposits of nearly $300,000, closed its doors this morning. A placard announced its suspension with the statement that a receiver had been applied for. At a meeting of the directors held yesterday evening it was decided to suspend business, and one of the members or the board, Attorney J. M. Stayton, was dispatched to Mammoth Spring to ask of Chancellor J. C. Humphries the appointment of a receiver who will probably be Alcorn Ferguson of this city. The announcement of the suspension came as a shock to a great majority of the people, though a number of large depositors had withdrawn their accounts owing to a prevalent rumor of its impaired condition by reason of a large loan made to a large lumber company which, through the past year, suffered heavy losses on account of excessive rains and inability to operate. Cashier R. M. Johnson says all depositors will be paid in full.

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BANK CLOSED

Its Failure to Open Monday Nearly Resulted In a Panic. Newport, Ark.. May 1.-Bank of Newport did not open Monday. Following notice was posted on a door: "The directors have decided to close until matters are adjusted." The bank, which is capitalized at $50,000 and has deposits of over $100,000. is one of the most prominent in the state. As sets are not obtainable. The closing almost caused a panic in Newport business circles, as practically every house was affected. The trouble is supposed to have been caused by the failure of the bank to collect more than a $100,000 loan made to a manufacturing firm a year ago.

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One Receiver As Yet

Up to press hour Friday afternoon no word had been received from G. L. Grant, despatched to Mammoth Spring with a petition from some sixty depositors of the Bank of Newport, asking the appointment of Capt. T. D. Kinman as a co-receiver with Mr. Alcorn Ferguson of the suspended bank. Captain Kinman is however assisting Mr. Ferguson in his work, which is tedious and may require some time before a statement of the bank's condition can be given out.

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THE Bank of Newport, Ark., which was established in 1889 and had deposits of $300,000, has gone into the hands of a receiver.

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CAPTAIN KINMAN NAMED

Chancellor Humphries Appoints Him Co-Receiver With Alcorn Ferguson of Bank of Newport. Chancellor Humphries has appointed Capt. T. D. Kinman coreceiver with Alcorn Ferguson of the Bank of Newport and on Monday he assumed jointly with Mr. Ferguson charge of the suspended bank's affairs. Attorney G. L. Grant returned Sunday night from Springfield and Mammoth Spring whither he had been sent with a petition for Capt. Kinman's appointment. The receivers are still at work and are not yet in a position to make the statement keenly anticipated by the creditors and general public.

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COLLATERAL IN DISPUTE

Suit Brought By Certain Depositors to Secure Restoration of Collateral Held by Bank of Newport's Bondsmen. Suit was instituted Monday by certain depositors of the Bank of Newport, acting through their attorneys, Campbell & Suits, to secure the return of the collateral held by the bondsmen who became sureties for the Bank of Newport in the loan made by the county on October 9, 1905 of $45,421.23 to the suspended bank. The moneys loaned by the county are continually being drawn upon for current expenses and at the time of the bank's suspension, the amount due the county was $24,923.79. Upon this point, the books of the bank and the County Treasurer tally to a cent, the county commissioners of ao s, consisting of W. R. T R. W. Anderson and w. I. Robinson having gone over this matter. The sureties for the Bank of Newport in this loan from the county required the bank to put up indemnifying collateral in the sum of about $24,000. This collateral was paper due the bank. Since the failure of the Bank of Newport, the county treasurer has been able to make arrangements with the First National bank to meet all demands of the county and this was effected by the putting up on the part of the sureties of the Bank of Newport, the collateral in dispute.

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Suit Occasioned by Bank's Failure

Newport, May 8.-Suit has been instituted by certain depositors of the Bank of Newport to se. cure the return of the collateral held by the bondsmen who became securities for the bank of Newport, on the loan made by the county on October 9, 1905, of $45,421.23 to the suspended bank. The moneys loaned by the county are being continually drawn upon for current expenses, and at the time of the bank's suspension the amount due the county was $24, 923.79.

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LAW SUIT FROM BANK FAILURE Depositors in Bank of Newport CHAS. MOSBY, WADSWORTH Seek Return of Collateral DEALER IN Held by Bondsmen Watches, Jewelry, Newport, May 8.-Suit has been Diamonds, Arkansas Pearls. instituted by certain depositors of WE FIT SPECTACLES CORRECTLY. the Bank of Newport to secure the return of the collateral held Watch Inspector For The by the bondsmen who became seWhite River Railway. curities for the Bank of Newport Arkansas. Batesville, on the loan made by the county on October 9, 1905, of $45,421.23 to the suspended bank. The moneys loaned by the county are continually being drawn upon for current expenses, and at the time A. M. EDGAR'S of the bank's suspension the amount due the county was $24, 923.79. Upon this point the books FEED AND SALE STABLE of the bank and the county treasurer tally, the county commissioners of accounts consisting of W. Horses and Mules Bought, R. Thompson, R. W. Anderson and W. F. Robinson, having gone Sold and Traded. over this matter. The sureties Will Sell You a Good Team, Cash or Credit. for the Bank of Newport in this loan from the county required the bank to put up inedmnifying collateral in the sum of $24,000.

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WILL GET 12 1-2 PER CENT Newport, Nov. 26.-The receivers of the defunct Bank of Newport, Messrs. Ferguson and Kinman, by their attorneys, Phillips & Boyce, filed a report in chan cery court this afternoon. The report shows that the receivers have collected $41641.41, of which they have on hand $40,543.73. It also shows that the claims against the bank aggregate $253,983.75. The receivers recommend that a dividend of 121 per cent be declared on these proven claims. This would mean the payment to the creditors of $31,747.96.

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CREDITORS TO GET DIVIDEND Newport, Nov, 30.-The chancery court today acted upon the report of the receivers for the Bank of Newport, Judge Humphreys entering his order instructing the receivers to distribute a dividend of 20 per cent to creditors of the bank upon claims that are unprotected.

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penitentiary recently with the request to be allowed to divide sentence with Hun Brown, another onelegged negro, who was convicted and sentenced to two years in the penitentiary from Dallas county on a of arson. charge the conviteed to serve the sentence and federal from the Pulaski by a hole themselves to from the second floor means a sawing lowering Ed out McWhirter prisoners, negro, through The also recently county Lum by mother the of the offered of her wall Johnson, jail, blanket. escaped ground of boy. of and rope made out of strips Johnson was captured an hour later but the other man is still at large. The body of a young white man, who was believed to have been killed by a Cotton Belt train, was found near the railroad tracks at Kingsland. His name is supposed to be W. H. Bruce as a Pine Bluff Y. M. C. A. card bearing that name was found in his pocket. L. A. Holland has secured $1,000 damages in the Crawford county circuit court against Julius Apetz. Some time ago Holland was arrested on a charge of tampering with the mail, lodged by Apetz, and upon his acquittal, filed suit for damages with the above result. After having been arrested once and escaping from the officers, L. E. Lindsey has again been arrested near England and is held for United States officers. He is charged with selling lijuor without paying government tax. Miss Stella Burge, a prominent young lady of Sidney, was thrown from a horse, and in falling her foot caught in the saddle strap, dragging her a considerable distance before she could be rescued. In a statement made by the Little Rock Board of Trade to New York and Chicago financial institutaxable valuation was placed at tions, county the $24,000,000. of PulasJohn W. Core, of Little Rock, committed suicide by using the same revolver that his father killed himself with years ago. His mother also followed the same route years ago. While in an intoxicated condition, William Murphy of Siloam Springs, a of 13 years, fell boy and hours fractured later his skull, dying a few without regaining consciousness. The receivers of the Bank of Newport, which recently failed, report of that they have collected a total $40,543.73. The claims against the bank aggregate $253, 983.75. In order to guard against the spread of emallpox, the Board of Health of Texarkana, has made an order that all negroes must be vaccinated or leave town. While on her way to attend a dance at Newport,, Annie Mae Walker, a young negro woman was drown- of ed in the slough at the lower end Newport lake. Dr. J.M. McConnell, a prominent of physician and property holder, Booneville, dropped dead recently. his Heart failure was the cause of death. The Little Rock Conference of the Methodist Episcopal Church South, is in session at Warren, with Bishop James Atkins of North Carolina presidng. The Supreme Court is called upon to to pass upon the question as whether a dog is an animal in a case appealed from the Garland circuit court. Crawford Fogg, charged with the murder of Monroe Nelson, will not hang at Lake Village in November, pending the decision of the Supreme court. John Tims, an aged veteran of the Mexican war, was married re-

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Will Pay 60 Per Cent

The claims of the depositors of the Bank of Newport, represented by Senator Clarke, totaling about $108,000, will be settled on a compromise basis of 42 per cent net, which with the 18 per cent net divided paid out by the receivers, makes a total of 60 cents on the dollar.

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Will Pay 60 Per Cent

The claims of the depositors of the Bank of Newport, represented by Senator Clarke, totaling about $108,000, will be settled on a compromise basis of 42 per cent net, which with the 18 per cent net divided paid out by the receivers, makes a total of 60 cents on the dollar.

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Will Pay 60 Per Cent.

The claims of the depositors of the Bank of Newport, represented by Senator Clarke, totaling about $108,000, will be settled on a compromise basis of 42 per cent net, which with the 18 per cent net divided paid out by the receivers, makes a total of 60 cents on the dollar.

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IN HANDS OF RECEIVER Newport, March 17.-The PondDecker Manufacturing Company, owners of the electric light plant and the real property upon which the Newport Stave Company is operating its plant, was placed in the hands of Charles G. Henry as receiver today by order of Chancellor George Humphries of Salem. The assets and liabilities of the company are not yet known, but there are many heavy outstanding claims dating from several years prior to the failure of the Bank of Newport. A receiver was asked for by the American National bank of Fort Smith, represented by Gustave Jones. The amount of their claim is about $3,500. The president of the company, George W. Decker, was formerly president of the Bank of Newport, which failed about two years ago.