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Small Bank Suspends Hartford, Ky., January 25.-The Ohio . County bank closed its doors this afternoon. making the second bank in Ohio county to suspend this week. It had a capital of $15,000 with deposits of $36,000. President S. K: Cox said the bank would be liquidated.
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OHIO COUNTY BANK ASSIGNS Depositors will Be Paid. Loss if Any Will Fall on Stockholders. Late Wednesday ening the Ohio County Bank by order of its directors assigned for the benefit of its creditors to A. E. Pate, of Hartford, Ky. It is thought that the bank's condition will warrant the statement that all the creditors will receive dollar for dollar on the bank's indebtedness. Ais yet the assignee has not had the oportunity to make up a detailed statement of the banks assets and to receive thorough advices as to t the value of same. The assets however, are considerably in excess of the debts, much of which consists of valuable real estate which has been taken for debts and otherwise acquired 0 by the bank. The assignment for the 1 purpose indicated has created very € little, if any, excitement about the < community, because the depositors c have always and now have implicit a confidence in the bank's president, t who has heretofore practiced the plan p of takink from his individual property и to protect any impairment of the banks capital stock, instead of employ ing that other custom so frequently resorted to wherein bank officers have been accused of taking from n banks for the benefit of their indip vidual account. There will be some ti loss by the liquidation of the bank K but practically all of this loss will te fall upon the bank's president and the es directors with whom he is associated. While the failure of crops for the past two years and the consequent of scarcety of money in the vicinity es has had much to do with closing da the doors of this bank, the persissh tent ill health of its president has K also rendered the step necessary for his the wellfare of all parties concerned. ed
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OHIO COUNTY BANK CREDITORS ASSEMBLE To Discuss Affairs of the Institution, Which Recently Assigned. Pursuant to a call of depositors in the recently assigned Ohio County Bank of Hartford, a meeting was held in the School Superintendent's office in the court house here last Saturday, for the purpose, it was said, of finding out something about the affairs of the bank. There were about thirty people present, including several ladies. The meeting organized by electing C. M. Crowe chairman and Heber Matthews secretary. Mr. J. P. Austin opened with a talk, saying, among other things, that the main purpose of the meeting was that the depositors simply wanted to know how the bank had been run. Mr. H. P. Taylor, attorney for the bank, who was present, was called upon for any remarks he might wish to make. He said he had sent for Mr. Austin and told him that both he and the assignee, Mr. A. E. Pate, were ready to give any information or aid in their power to enlighten the depositors or acquaint them with the affairs of the bank. Mr. Taylor said what ought to and will be done, is to collect up money due the bank as speedily as possible and adjust matters to the satisfaction of all. The notes and accounts of the bank are on file in the County Clerk's office and are open to the inspection of everybody. Nothing is concealed or suppressed. Attorney Taylor spoke in behalf of Capt. S. K. Cox as cashier of the bank. Capt. Cox would have been present also, but for the critical condition of his health. The attorney said Capt. Cox has given un everything in his personal control for the benefit of the creditors of the bank. Capt. Cox, after emploving every effort to relieve the situation and then being advised that he would have to make an assignment, said he would rather die than do so, as he felt that every depositor was a personal friend. He was advised to make A. E. Pate his assignee. which he did, and the assignee is heavilv bonded. The affairs of the bank show that there are about $55,000 of debts coming to the bank, with about $44,000 liabilities. Attorney Taylor has the matter in hand and will administer same to the best interest of all concerned. He will ask Judge Birkhead to classify the notes and accounts and proceed strictly according to law governing such cases. Mr. Taylor said the depositors will in all probability get dollar for dollar. if they will only be patient and abide the proper proceedings. Mr. Austin, on behalf of the depositors, asked for the privilege of sending a responsible person to look into the books and affairs of the bank. Mr. Taylor readilv agreed to this, saying that any of the officials of the other two banks of Hartford. or any efficient or acceptable person. when empowered by authority from the depositors. would willingly be shown through the affairs of the bank. Chairman Crowe said he had been approached bv depositors in the bank, some of whom he represents. He said they merely wanted to know what could be done, that they are entitled to know the business of the bank. He advocated the cheapest plan of adjustment, whatever that might be. Mr. Taylor made a few touching remarks about the bank's stricken cashier, Capt. Cox. who has passed through months of worry and trouble about the bank's affairs, which finally culminated in almost a total physical collapse, he having been for several weeks confined to his home on account of a nervous breakdown. He said he was quite sure that none of the creditors of the bank wanted to persecute or hound Capt. Cox on the bank's account. No one in the community stands higher in the matrespect bonesty and integrity
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E. G. BARRASS. Clerk of Ohio Circuit Count. Pursuant to the above order, all parties having claims against the OHIO COUNTY BANK, Assigned, are hereby notified to file same with the undersigned Commissioner, at his office in Hartford, Kentucky, properly verified, on or before April 22nd, 1911. Any creditor failing to present his claim by the time named herein shall be deemed to have waived his right to any part of said assigned estate. F. L. FELIX, Master Commissioner, Ohio Circuit Court. 38t3
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the the accounts of A. E. Parte, Assignee, Ohio County Bank, and to advertise and report on claims against Ohio County Bank, assigned, by Saturday, the 6th day of the regular April, 1911, term Ohio Circuit Court being the 22nd day of April, 1911. Given under my hand as Clerk of the Ohio Circuit Court, this April 5th 1911. Copy Attest:
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E. G. BARRASS. Clerk of Ohio Circuit Count. Pursuant to the above order, all parties having claims against the OHIO COUNTY BANK, Assigned, are hereby notified to file same with the undersigned Commissioner, at his office in Hartford, Kentucky, properly verified, on or before April 22nd, 1911. Any creditor failing to present his claim by the time named herein shall be deemed to have waived his right to any part of said assigned estates F. L. FELIX, Master Commissioner, 38t3 Ohio Circuit Court.