1.
April 24, 1908
The Washington Times
Washington, DC
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TWO KENTUCKY BANKS SUSPEND PAYMENT OWNESBORO, Ky., April 24.-Because of poor collections, the Ownesboro Bank and Trust Company and the Daviess County Bank and Trust Company are declining to receive deposits, and have suspended cash payments pending reorganization. James H. Parrish is president of the Ownesboro company, which is capitalized at $200,000, and has deposits of more than $1,000,000 dollars, while T. S. Anderson is president of the Daviess County Company, which is capitalized at $50,000, and has deposits of more than $ 00,000.
2.
April 24, 1908
Perth Amboy Evening News
Perth Amboy, NJ
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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.
3.
April 24, 1908
The Daily Sentinel
Grand Junction, CO
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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.
4.
April 25, 1908
The Evening Statesman
Walla Walla, WA
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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.
5.
April 25, 1908
New-York Tribune
New York, NY
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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.
6.
April 26, 1908
The Morning Astorian
Astoria, OR
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RECEIVERS ASKED FOR. OWENSBORO, April 25. -The Owensboro Savings Bank & Trust Co., of Owensboro, Ky., has applied for the appointments of a receiver. The bank is capitalized at $20,000 and has deposits of over $1,000,000. Of this amount $500,000 is held by depositors residing in six states and six foreign countries. The Davies County Bank & Trust O. is suspending cash payments yesterday is capitalized at $500,000 and has about $600,000 in deposits.
7.
April 28, 1908
Hopkinsville Kentuckian
Hopkinsville, KY
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NAMED RECEIVER. To Take Charge of Wrecked Bank in Owensboro. Owesnboro, April 27.-Despite the protests of James H. Parrish, president of the Owensboro Savings Bank and Trust Company, Circuit Judge T. F. Birkhead named T. A. Pedley, manager of the Owensboro Clearing house Association, as receiver for the bank. Mr. Pedley qualified by executing bond in the sum of $200,000, and the bank, with a capital stock of $200,000 and deposits of over $1,000,000, which suspended payment last Monday, is now in his hands. The report of the Owensboro Clearing-house Assoociation shows the other banks of Owensboro to be in excellent condition and the action of the two banks suspending payment has not to any extent injured local business conditions. It is believed that the Daviess County Bank and Trust Compeny will resume payments in a few days.
8.
April 29, 1908
Evening Times-Republican
Marshalltown, IA
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FILES GENERAL ASSIGNMENT. Davies County and Trust Company, of Owensboro, Ky., Fails. Owensboro, Ky., April 29.-The Davies County and Trust Company, which declined deposits and suspended cash payments several days ago, last night filed a deed of general assignment. The bank has a capital of $50,000 and deposits of over $600,000. The assignment followed the assignment of the Owensboro Savings Bank and Trust Company.
9.
April 29, 1908
Rock Island Argus
Rock Island, IL
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BANK MAKES AN ASSIGNMENT Suspension of Payment Followed by Liquidation. Owensboro, Ky., April 29.-The Davies County Bank and Trust company, which declined deposits and suspended cash payments several days ago, last night filed a deed of general assignment. The bank has a capital of $50,000 and deposits of over $600,000. The assignment followed the assignment of the Owensboro Savings Bank and Trust company.
10.
April 29, 1908
The Mt. Sterling Advocate
Mount Sterling, KY
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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.
11.
April 30, 1908
The Paducah Evening Sun
Paducah, KY
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Jap Cadets Lost When Projectile Explodes in Magazine of Cruiser --Oyama's Son is Among Missing. OWENSBORO SCANDAL Total Number Killed is Not Owensboro, Ky., April 30.-(SpeKnown But Three Captains cial.)-Henry Cline, appointed assignee of the Daviess County Bank Are Supposed to Have Gone and Trust company declined to serve Down With Boat. and Ernest Anderson was appointed. Petition was filed in circuit court alleging fraud and asking for a receiver. Criminal prosecutions are expectTokio, April 30.-The accidental ed. explosion of a projectile in the stock
12.
April 30, 1908
Los Angeles Herald
Los Angeles, CA
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Receiver in Charge of Bank By Associated Press. OWENSBORO, Ky., April 29.-The Davies County Bank and Trust company, which declined deposits and suspended payments several days ago, was today taken in charge of by Assignee Henry Cline. The bank has a capital stock of $50,000 and deposits of over $600,000.
13.
May 1, 1908
The Billings Gazette
Billings, MT
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TAKES CHARGE OF BANK. Suspended Institution Passes Into Hands of Assignee. Owensboro, Ky., April 29.-The Davies County Bank & Trust company, which declined deposits and suspended payments several days ago, was today taken in charge by Assignee Henry Cline. The bank has a capital stock of $50,000 and deposits of over $600,000. Its assignment followed that of, the Owensboro Savings Bank & Trust company, which had a capital stock of $600,000 and deposits of over $1,000,000.
14.
May 15, 1908
The Hartford Republican
Hartford, KY
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ORGANIZATION OF NEW BANK IS PROPOSED. Louisville Money to be Put Into The Enterprise if Promoted. The latest talk in connection with the scheme to reorganize the Owensboro Savings Bank and Trust Company, really does not mean a reorganization at all, but the organization of a new bank. It is now said that no move will be made until Receiver Pedley's report is filed with the court on the firstM onday in June. It is then it is said, that the newbank will be organized to buy in such assets of the old bank as may be deemed desirable by the directors of the new bank. Of course ,the new bank would have to bid against other banks or individuals, who might want any of the assets of the defunct bank, An appraisement of the assets of the Owensboro Saving Bank and Trust company will be made by appraisers appointed by the court. They will fix a value upon each item ,and when sold the law provides that they shall bring two-thirds of the appraised value. The new bank, if it had no active competitors, would be able to buy the assets of the old bank at a price much below par or face value, whereas a reorganized bank would have to pay depositors and creditors in full. It is told on pretty good authority that $75,000 of Louisville capital is ready to go into a new bank, but not into a reorganization of the old one. Mr. E. B. Anderson, assignee of the Daviess County Bank and Trust company, has his force busy at work, preparing schedules of assets and liabilities ,and he hopes to have them ready to file with the county court on next Thursday, May 14, but he may be compelled to ask an extension of a few days, as the work man not be finished by Thursday. It is a big task to prepare schedules for a bank with as large a list of assets and liabilities as the Daviess County Bank and Trust Company. A number of notes have been paid in the past few days, as those paid will not have to be published but will appear in the schedule of assets as cash.-Owensboro Inquirer.
15.
May 18, 1908
The Paducah Evening Sun
Paducah, KY
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OWENSBORO BANK SCANDAL MAY GET SOMEONE IN BAD Owensboro, Ky., May 18.-It is predicted that arrests will be made as the result of failures of the Owensboro Savings Trust company and the Daviess County bank. The receivers' report, it is said, shows nearly $300,000 worth of paper was signed by the Parrish family and busi ness allies. Only $96 were found in the savings vaults.
16.
May 19, 1908
Santa Fe New Mexican
Santa Fe., Santa Fe, NM
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KENTUCKY BANKERS TAKEN INTO CUSTODY Former Officers of Institution at Owensboro Charged With Embezzlement. Owensboro, Ky., May 19.-T. S. An. derson, president of the Davies Coun. ty Bank and Trust company, and J. H. Parrish, president of the Owens boro Savings Bank and Trust company, were arrested here 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 to be insolvent. Both banks recently assigned. Anderson once was president of a bank in Detroit but the employment of a watchman on Sunday night was against his religious scruples and he resigned and returned to Owensboro
17.
May 19, 1908
The Daily Sentinel
Grand Junction, CO
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TWO BIG BANKERS ARE UNDER ARREST [By Associated Press.] Owensboro, Ky., May 19.-T. S. Anderson, president of the Davies County Bank & Trust Company, and James H. Parrish, president of the Owensboro Savings Bank & Trust Company, were arrested yesterday. Anderson is charged with appropriating $200,000 of the bank's funds to his own use and with receiving deposits when he knew the bank was insolvent. Parrish was arrested on two warrants charging him with receiving deposits when he knew the bank to be insolvent. Both banks recently assigned. Anderson once was president of a bank in Detroit, but the employment of a watchman on Sunday night was against his religious scruples and he resigned, returning to Owensboro.
18.
May 20, 1908
Pine Bluff Daily Graphic
Pine Bluff, AR
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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.
19.
May 20, 1908
The Hartford Herald
Hartford, KY
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ONLY $96.00 CASH FOUND IN VAULTS Of Defunct Owensboro Savings Bank. MOST OF PAPER WORTHLESS It is Predicted that Several Arrests Will Take Place This Week. Owensboro, Ky., May 18.-It is now freely predicted in Owensboro, not only by those who have lost money by the failures of the Owensboro Savings Bank and Trust Company and the Daviess County Bank, but by business men not personally® interested, that arrests will be made as a result of the failures by the middle of this week. Several depositors of the two institutions have consulted with Commonwealth's Attorney Ringo and County Attorney Finn with a view of taking out warrants. The report of Receiver Pedley, of the Owensboro Savings Bank, will reveal a condition of affairs by the side of which the irregularities of the Daviess County Bank will pale into insignificance. In the vaults of the savings bank there is between $260,000 and $300,000 of personal paper of members of the Parrish family and paper of their immediate business allies. All of these notes, ais well as a great deal of paper of persons and concerns other that the Parrish interests, are regarded as practically worthless. Some of it is so old and worn that it is falling to pieces. The only paper of value not rediscounted before the failure is a number of small land notes. Only $96 was found in the vault when the receiver took charge. In theDaviess County Bank over $100,000 of Anderson paper is considered practically worthless.
20.
May 22, 1908
Dakota Farmers' Leader
Canton, SD
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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,
21.
May 22, 1908
The Hartford Republican
Hartford, KY
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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.
22.
May 26, 1908
Wausau Pilot
Wausau, WI
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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.
23.
July 24, 1908
The Hartford Republican
Hartford, KY
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Long Wait For Depositors. The Owensboro Messenger says: There is no probability of an early distribution to depositors of the assets of the Daviess County Bank and Trust Company, assigned, and the Owensboro Savings Bank and Trust Company, in the hands of a receiver. Neither Assignee E. B. Anderson nor Receiver Pedley can make distribution of any part of the proceeds until certain preliminary matters are determined, and this cannot be done until the October term of the Circuit Court. In the case of the Daviess County Bank and Trust Company the principal obstacle is the question of preference of holders of mortage certificates. Judge Birkhead, of the Circuit Court, has handed down an opinion in the case, holding that mortgage certificates of deposit are not entitled to preference, and that all creditors of the bank must share alike. There has, however, been no order to this effect embered, and the present status of the case does not admit of an appeal. The order will, in all probability, be made final at the October term, and an appeal will be taken by the holders of mortgage certificates to the Court of Appeals. Several months, probably, will be required for a determination of the question by the Court of Appeals, and it is practically certain that the assignee will ncc be authorized to begin a distribution of the proceeds fore the early months of 1909. In the case of the Owensboro Savings Bank and Trust Company, the matter causing delay is whether or not the receiver shall redeem certain notes of the bank rediscounted with other banks, principally the Fifth National Bank, of Cincinnati. This question might possibly be determined at the August term, but this is a criminal term and it is not probable that the court will take up civil matters of great imporance at that term. When a ruling of the Circuit Court is finally obtained on