7425. First National Bank (Paducah, KY)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
1599
Charter Number
1599
Start Date
January 8, 1930
Location
Paducah, Kentucky (37.083, -88.600)

Metadata

Model
gpt-5-mini
Short Digest
9c98fcee

Response Measures

Accommodated withdrawals, Public signal of financial health

Other: Ultimately the First National Bank of Paducah was purchased/merged into the City National Bank (assets purchased and deposits guaranteed) on 1930-11-17.

Description

January 1930: suicide of bank president and discovery of defalcations at an allied concern prompted heavy precautionary currency shipments and feared withdrawals (few actual withdrawals). In November 1930 the City National Bank purchased the assets and guaranteed deposits of the First National Bank (permanent consolidation/closure).

Events (5)

1. October 25, 1865 Chartered
Source
historical_nic
2. January 8, 1930 Run
Cause
Bank Specific Adverse Info
Cause Details
Suicide of President W. F. Bradshaw and discovery of defalcations at an allied concern led depositors to be alarmed and prompted precautionary cash shipments; depositors also confused the bank with the affiliated First National Company.
Measures
Nearly $1,000,000 in currency rushed from Federal Reserve Banks (St. Louis and Louisville) to the First National Bank as a precaution.
Newspaper Excerpt
Despite reassurances ... nearly $1,000,000 extra in currency was on hand today at the opening of business for one of the institutions.
Source
newspapers
3. November 17, 1930 Suspension
Cause Details
First National's assets and deposits were purchased and assumed by City National Bank (consolidation/merger after negotiations); this resulted in closure of First National's independent operations and transfer to City National.
Newspaper Excerpt
The City National Bank of Paducah, effective today, has purchased all the assets, assumed all liabilities and guaranteed the deposits of the First National Bank of Paducah ... business of all three banks will be conducted from the banking room of the City National Bank.
Source
newspapers
4. March 6, 1931 Voluntary Liquidation
Source
historical_nic
5. April 17, 1932 Other
Newspaper Excerpt
Beadles, former official the defunct First National Bank accused ... violation national banking ... accused used his position fraudulently obtain loans ... made false bank reports . . . assistant cashier and employees accused in charges related to the defunct bank . . . receiver referenced in later suits (City National receiver).
Source
newspapers

Newspaper Articles (15)

Article from Dayton Daily News, January 8, 1930

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ACT TO CHECK "RUN" ON BANK Rush $1,000,000 to Paducah Concern After Official's Suicide. PADUCAH, Ky., Jan. 8.-(P)Despite reassurances of officials of two banks of which William F. Bradshaw, 51, was president, nearly $1,000,000 extra in currency was on hand today at the opening of business for one of the institutions. Bradshaw, capitalist and lawyer, and first president of the Dark Tobacco Cooperative Marketing association, died yesterday of selfinflicted knife wounds. He was in ill health, it was explained, and upset by his failure to discover minor defalcations by employes in one of the concerns of which he was president, since made good. Directors of both the First National bank and of the Mechanics Trust and Savings bank issued of the institutions nearly $1,000,000 in currency was brought here last night from Federal Reserve banks at St. Louis and Louisville for the First National bank, as a precaution. Louis Rubel, first vice president of the First National bank, said in good shortage in the accounts of the First National Co., allied concern, when it was discovered that speculating.


Article from The Cincinnati Enquirer, January 9, 1930

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RUN ON BANK IS FEARED. Paducah Capitalists Have $1,000,000 Scarce. SPECIAL DISPATCH TO THE ENQUIRER. Paducah, Ky., January 8-Despite reassurances of officials of two banks of which William F. Bradshaw, 61 years old, was President, nearly $1,000,000 extra in currency was on hand today at the opening of busines for one of the institutions. There were few withdrawals at the First National Bank as the doors were opened. but this soon stopped, as depositors learned there no connection the First National Company and the bank. Part of the money brought in was sent to the Mechanics' Trust Savings Bank but no withdrawals were recorded there. Bradshaw. millionaire capitalist and and first President the Dark Tobacco Growers' Co-operative Marketing Association, died yesterday of self-inflicted knife He III health and upset by his failure to detect defalcations said to amount to $32,000. by employees in one the concerns which he President. Nearly $1,000,000 in currency brought here last night from Federal Reserve banks St. Louis and Louiswille for the First National Bank as precaution.


Article from The Cincinnati Enquirer, January 9, 1930

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RUN ON BANK IS FEARED. Paducah Capitalists Have 000 Scarce. DISPATCH THE January officials two banks which years President, $1,000,000 extra currency today the opening busifor the at the First the but stopped. there the First National the bank. Part money the Trust no withdrawals recorded millionaire and the Dark Tobacco Growers' Marketing died self-inflicted knife wound. III health upset failure detect defalcations amount employees the President. Nearly currency brought here last night from Federal Louis Louisville for the First National Bank


Article from Evening Star, January 9, 1930

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BANKS TAKE PRECAUTION AGAINST DEPOSITORS' RUN By the Associated Press. PADUCAH, Ky., January 9.-Despite reassurances of officials of two banks of which William F. Bradshaw, 51, was president, nearly $1,000,000 extra in currency was on hand yesterday at the opening of business for one of the institutions. Bradshaw, capitalist, lawyer and first president of the Dark Tobacco Growers' Co-operative Marketing Association, died yesterday of self-inflicted knife wounds. He was in ill health, it was explained. Directors of both the First National Bank and of the Mechanics' Trust & Savings Banks issued statements reassuring depositors that the affairs of the institutions were in perfect condition, but nearly $1,000,00 in currency was brought here last night from Federal Reserve Banks at St. Louis and Louisville for the First National Bank as a precaution.


Article from The Kentucky Post, January 9, 1930

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DEPOSITS SAFE Run Bank Averted After on Suicide of President PADUCAH, KY Jan. the First National Bank, which William Bradown two ago, was today the the smaller acOfficials of First well those Trust which Bradshaw were pared meet Nearly currency Louisville and Louis Federal Reserve banks and of the First beshortage health that and members of the Bradshaw the floor of verdict suicide knife inflicted on the and chest NEGRO FINED AND JAILED 10-day costs Alfred Court He charged with and after residents Seventh and Eighth streets, charged he abusive language against them they declined him alms,


Article from The Mayfield Messenger, January 10, 1930

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PLANE FORCED DOWN TUESDAY IN NORTONVILLE CARRIED $400,000 MADISONVILLE, Ky., Jan. 10. Wealth showered upon Nortonville last Tuesday afternoon. Four hundred thousand dollars in cash fell out of the sky into a field on the farm of U. J. Frank- But only two people knew It. And the wealth didn't stay put very long. It was soon thrust aboard an Illinois Central train and sent on to Its destination, the First National Bank of Paducah, and some hours later the story out. Pilots Earl R. Menir and E. B Whilder, of Louisville, left the Kentucky metropolis on on ebergency mission, transporting in four mail sacks $400.000 in cash They encountered rain and low visibility from the start. At times the fliers barely miss tree tops and house roofs, 80 low they were required to fly to see landmarks. They were following the I. C tracks but flying conditions became steadily worse and a short distance from Nortonville they ran bang into dense fog. As safe altitude could not be maintained with any degree of visibility. the pilots dropped a few feet to earth. There they were. in strange country, guar dians of a fortune in currency and with only one pistol for pro dection. Of course. the nature of the cargo had been secretly guarded, but there was possibility of slip somewhere They had been paid $125 for the trip to Paducah. but they were down not arise for several hours. and still about 90 miles from Pa ducah. The money was wanted in the bank before closing hour, : Meuir and Whilder took the money-filled sacks to the station and consigned the precious burden to the express company for transportation to Paducah. The express charges amounted to $300. but the money was soon on its interrupted way with nobody but the express agent and the pilots wiser. The concignment was part of a million dollars rushed from federal reserve banks in Louisville and St. Louis to the Paducah bank as a precautionary measure against a run on the bank after the suicide of W. F. Bradshaw, Employes of the First National Company. bond concern owned by some of the directors of the First National Bank. had defaulted. The bank officials. while the two institutions were not affiliated in a business way. feared the deposit ors might confuse the two institutions and start a run on the bank. Very few withdrawals were made before depositors learned the true situation. when with drawals stopped. But the money was there to protect everybody Thursday the plane was pulled out of the mud and, at 9:50 m. took off for Louisville. A passenger was aboard this time. Clyde Reynolds, of Nortonville, who wanted to see some high life As the pilot left the ground he also left an impression that he would give young Reynolds his money's worth in Chrills. So, gain ing sufficient altitude, he began a series of stunts that thrilled the crowd on the ground. He looped. did the leaf drop. nose dive and many other breath-tak ing stunts before heading for Louisville.


Article from The Hustler, January 10, 1930

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PLANE FORCED DOWN TUESDAY CARRIED CASH (Continued From Page One) tection. Of course, the nature of had secretly guarded, but there was possibility of slip somewhere. They had been paid $125 for the trip to Paducab, but they were down not to arise for several hours, and still about 90 miles from Paducah. The money was wanted in the bank before closhour, o'clock. $300 Express Fee. Meuir and Whilder took the sacks to the sation and the burprecious den to the company for transportation Paducah. The express charges amounted to $300, the money was soon on interrupted way with nobody but express agent and the pilots wiser. The consignment was part of million dollars rushed from federal reserve banks in Louisville and St. Louis to the bank precautionary measure against run on the bank after the suicide of W. Bradshaw. president. Employes of the First National bond concern owned some of the of the First National Bank, had bank while the two insti-


Article from The Paducah Sun, November 17, 1930

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City National Bank Buys First Mechanics; Change Effective Tuesday Business To Be Conducted at City National Bank, Which Buys Resources and Guarantees Deposits of Other Banks The City National Bank of Paducah, effective today, has purchased all the assets, assumed all liabilities and guaranteed the deposits of the First National Bank of Paducah and the Mechanics Trust and Savings Bank of Paducah. At the opening hour at nine o'clock tomorrow, the business of all three banks will be conducted from the banking room of the City National Bank, Mr. James C. Utterback, president of the City National Bank, assuming direction the merged banking houses. Officers and employes of the First National and of the Mechanics, familiar with the business of these two banks will be on duty at the City National Bank and will give their personal attention to the affairs of the patrons of the two institutions purchased by the City National. Resources $8,500,000 This transaction brings head negotiations which have been conducted over the past several months and makes the City National Bank the largest in the state of Kentucky Louisville. Statements sued by the directors of the First National invite the ronage their patrons of the National Bank. Directors of the First taking cognizance suspension business on the part of two Louisville banks, that these pensions affect the strength of the First which was formeraffiliated with The City National Bank with the the First National and the Trust and ings Bank, will have combined more than $8,500,000. The following brief statements issued today by officers and directors the three banks concerned the transaction: City National Bank. J. Utterback, president of the City National Bank Paducah, has issued following statement: "We gratified announce the purchase by the National City Bank of Paducah, of the assets the First National Bank of Paduthe Mechanics Trust Savings Bank. Negotiations for this purchase have been pending for some time, and the transaction closed of this date. "Beginning morning nine o'clock, the business of the consolidated banks will be ed from the banking room of the City National Bank of Paducah, Fourth Broadway. "The of patronage the customers and depositors the purchased banks is earnestly solicited. "We invite your support and business and pledge you the same courteous treatment you have ceived the banks you have tofore patronized. "In soliciting your business, have the full support and co-operation of the officers, directors employees First National Bank of Paducah and the Mechanics Trust Savings Bank, numof whom will assist us banking room in the transaction your business. UTTERBACK." First National Bank. the officers and the First National Bank of Paduthat all of the sets this bank have been sold the City National Bank of Paducah, which has also guaranteed its deposits. "The closing of the doors of Louisville banks has not way affected the strength or nancial position of this bank. The First National Bank Paducah does not owe the Bancokentucky any sum, does Bancokentucky First National Bank Paducah any bespeak for the City NationBank of Paducah continued your patronage good will, believing that you will receive its hands the same courteous and you have enjoyed as rons of this bank. RUBEL "JESSE WEIL YOPP STAHL "LOUIS KOLB HANK "EDSON HART "FAIN KING "DOW WILCOX." Mechanics Trust Savings Bank. officers and rectors the Mechanics Trust Savings Bank announce that their assets have been purchased and all their deposits guaranteed the City National Bank Paducah, the transaction to take place once. business the Mechanics Trust Savings Bank will be con-


Article from The World-News, November 17, 1930

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pany, Newport; Bank of Pangburn, Pangburn: State Perry: Merchants Trust Company. Pine Bluff: Bank Star Star Victoria Bank Strong: State Bank, Stuttgart; Citizens and Bank of Wabbaseka, The following banks affiliated with Banks Company mained open for business, the comannounced: The Bank of Fordyce and the First National Bank, Fordyce: Bank Harrisburg, Harrisburg First National Mineral Bank of phens, Stephens, and Bank of Waldo, Waldo. Efforts were being made at City to merge the First National Bank and the Merchants and Farmers and open one of them today, officials said. Chicago Nov affiliated the National Bank Kentucky drastically the Chicago stock market opening compared with closing price Saturday of Sales midsession today had reachtotal of shares, while the sales last 9.800. stock has sold 25 this and last mark was today the to and then slipped back Ky., Nov. City National Bank Paducah today nounced the of the First National Bank the Mechanics Trust and Savings Bank Paducah. James Utterbach president the City Bank, had all assets of the other local and had guaranteed their deposits. Directors the First National Bank, which was affiliated with the Bancothat closing the Bank Kentucky had not the First National of They added the National Bank owed and owed them nothing. BAPTISTS HERE FOR GENERAL ASSOCIATION MEETING TOMORROW CITY ITEMS Mark's Gathering. Mark's Lutheran who the during the will be welcomed gathering held the church Wednesday evening o'clock. Charles Smith, president Roanoke college, will make brief talk at this time. Committee to Meet. The of the Mary Louise home meet Wednesday o'clock the home number important matters will be discussed, and all members are urged to be New Director Arrives. Effie Kendrick, recently named the cafeteria, has the city. She assume her new duties morning Miss Kendrick native of Georgia, but comes here Orleans, where has sistant cafeteria of that city. Children's Book Talk. Miss Mary Roselle, children's 11brarian the Roanoke public library, will speak to parents the subjects books for children Tuesday morning at The viously announced Wednesday morning Suffering Injured Knee. near Boone taken Lewis-Gale hospital late suffering from badly lacerated knee as result of an automobile accident of on Mount road, about six miles from Crystal Spring The Crystal Spring Association meet afternoon the usual hour, nounced yesterday. The meeting was to have been held last but was poston the death mother the school Bertha Starritt. principal, Wreck Victims Improve. Mrs. Fred Lorenzen and daughters, Helen and Hazel, slightly injured an cident which occurred Armistice between Roanoke and Salem, are able to be out again. (Continued From Page One.) To Give Womanless Wedding. bentfit the church buildFor ing fund. Circle No. the WomAuxiliary of the West End Presbyterian will sponsor the "Womanless Wedsentation evening o'clock tomorrow the over the and Cafeteria Street. Hernwill be in charge of the don music. tists Virginia have chosen Roanoke their in 1897, 1910, 1917 in 1923. The white Baptists of Virginia numThey have 1,154 churches, 743 ministers 1,140 Bible Schools, Baptist Young Peoples Unions, Women's Missionary Undistrict which standhospital with 103 beds, orphanage at Salem which cares 275 children. seven academies, three junior colleges and one universiaccording to reports prepared for Seize and Liquor Cargo. tomorrow Stanley. Roanoke County of Virginia last liceman captured for automobile loaded 105 Buick for missions and education. of liquor on Friday night, gallons after chase from the W. Cammack will conduct opening session Road. through after organization and Northeast and an address welcome will ended the Bonsack Road, outside delivered by Angell. the city limits. One of the two sponse will made by Dr. Cecil other. cupants Cooke. Moses, faces prohibition charge. Among the other opening day speaktaken to Salem and later supplied ers are Frank Crump, bond. Eugene Sallee, both has Burn Car and Wreck One resented the denomination foreign Thleves will deliver an address Saturday night. Christ in Services will police another burned, at noon when that Frank Kaplan reported will be preached by Dr. been stolen. his had land whose subject will few minutes later fire company Greatest called street at Buzzard Rock president of the where Kaplan's machine Ford Richmond, will speak Police the car appearmorrow the ed been fired from the inside. "Higher World was backed into The report the committee ditch flames flared up presented by the sped Studebaker second car Tiffany. Tuesday night owned Riley Collins, touring address will Porter who wrecked at Church Avenue and his subject, "Must We First Street, W., shortly Fight Again?" was reported stolen. The driver fied. called to move the Speaking "Thomas Jefferson and Garland damaged vehicle away. Governor John Pollard will appear the program Pol- Pupils pupils of the Jamison has active Sixth will group songs the the for many school afternoon at o'clock from stahaving served moderator Friday WDBJ Those the the Peninsula Baptist Association while will last for about lived Williamsburg. which thirty program. minutes, will be children Dr. Richard pastor of CalMrs. Baptist will serve rooms of Mrs. vary Mrs. Virginia Mameeting which Beulah Painter and pastor scheduled adjournment at soncup. Thursday Planning Consolidation. article in the Daily to New the the National Credit Company and Dun Office are planning successful the the negotiations are individual will retain agencies but known the Dun Corporabe the Dun Company For 89 operation. been world-wide organiza257 offices and over operating states the States and themservices.


Article from The Courier-Journal, November 18, 1930

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THREE BANKS AT PADUCAH MERGE Consolidated Institution Becomes Largest In State Outside Louisville. the First National Bank and the Mechanics Trust & Savings Bank late today began transfer currency and from which vesterday Tomorrow morning the business all three banks the room of the City James of the City will with the assistance purchased personnel the City National the First National of Paducah tional which closed at there was financial Withdrawals by depositors heavy at the the day the banks banking activity the Banking officials that unusually could made for heavy from Louis might resources more National largisville banks for some until Sunday night.


Article from Star-Herald, November 18, 1930

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One Scotts Bluff county farmer has changed the of his able bodied son "Farm Relief.' says the young man just won't work. English: great collection of words studied by before they cide to get along one, "Yeah." Draw Your Own Moral To those who talk and and talk This lesson should The wind that blows the whistle Never, never turns the wheel. And the waitress may not make the soup, but possible that she has finger in Adam and Eve were the first farthey got in trouble listening to fake farm relief story. Imitation may be the sincerest form flattery or the surest sign of lazi- doesn't take any previous experience detective order find fault or hunt for trouble. Motorist in an accessory don't want musical horn, just want one that sneers." The office sheik opines "that two live cheaply as more to Middle age that period when long drawn out kiss in the movies about as thrilling as savages rubbing noses. Correct this sentence: "Since Doc said the widow, "most of his patients have called to pay what they One our bankers says: "What's You are held down 'till then you are held western plains and valleys, what they today, has watered added security, and has prepared these stretches the earth by the application these waters, for Eden habitations for all things that live. The waters of the lower stretches the Mississippi have 80 slowed up that they cannot carry off the Gulf the sand and silt its tributaries bring to gradually fills up its bed, and without levees over of acres land and form inland sea. How must man continue banks continues fill the vital question the hour. By storing these tributary run off flood waste waters in the upper plains regions utilizing them for irrigation during the dry season in and August, only seepage waters need ever reach the lower Mississippi that only in the fall time when in this undertaking, development floods never occur. realization, man only delaying Thus two birds are killed with one security enjoyment of stone. good second great Eden garden will, by the application Over Score Banks waters, produce seven fold and more, year by in Southern Section year as long as time runs. Closed to Business Storage Prevents Floods There continuous warfare bewind, water and in (Continued from Page One) placements and The The American Exchange Trust waters are at work tearing announced deposits of land. The land again lifted the date of the bank earthquakes and by volcanie call. bank capitalized of solid train load of 100 Banks president of the Well, the Mississippi stitution. delivers equal quantity The banks acted under an Arkansilts and solubles into the Gulf of Mex- state permits them every ten minutes normal day of five days reopen or turn The forces of erosion are constantly their affairs to the state banking work. and mankind's strug- department. against the forces of nature, Closing of the National Bank of contests between individuals, Kentucky which had angroups and nations, rivers, brooks, nounced resources creeks and rills, stage their warfare followed closing of four smallwith one another for territorial Louisville quest and drainage control. guiar Bank Trust company The waters are ever battling against Franklin, and the Bank of and dancing with their Helen's, suburb of Louisville. load of debris on the Presidents of other Louisville banks The internal forces of the earth issued asserting their inforever producing stitutions were solvent in every The cannot spect and would not affected. At vent these changes, but they are Paducah, Ky., the City National Bank stantly at work obliterating and level- Paducah the them. the First National Bank PaduIn Isaiah, wer read "Every valley and the Mechanics' Trust and shall be and every mountain bank Paducah after negotiaand made and the crooked tions lasting some time. shall made straight and the rough State Funds Tied Up The four banking which have In the long ago, the magnificient closed Tennessee during the last Plattes rose heads in the weeks the Bank TennesRockies and flowed in subsidiary of and comerally easterly course, forming the Holston Union tween them great bank the Liberty bank structural plain with the Trust and company what known at the city Campbell County bank and Trust North Platte. Nebraska, forming company this point the main Platte river. Attorney General Smith thence flowing generally easterly has reported through the entire length of Nebraska in the funds were deposit emptying into the muddy, treach- Bank Bank Tennessee, the Missouri and the Missis- Trust and the Holston and the Gulf of carry- Union of earth within of the Fourth and First banks form destruction. National banks into the American Na Construction tional been announced Likewise, North Loup, the Midas was the acquisition Loup and the South Loup the one stream. known the Loup bank by the Commerce Union bank. which turn flows into East National bank, the Platte. Along border East Tennessee Savings bank and the flows the of City National eastern Colorado and idling in have been merged into the East Tenwith its earth National bank. nessee load to flood troubles the John Gore in NashJudge stretches the Mississippi. Monday ordered creditors Along these streams erosions Caldwell and company present their formed wide and claims before next July first and valleys. these rivers, lie joined creditors claimants from rich, level and or instituting separate suits against Caldtables, extending from eastern and company and enjoined all Colorado through the entire length parties any now pending from Nebraska. proceeding further except by consent truly beautiful region, which the these rivers drain. Once The Illinois banks which closed level ocean and too fair land Monday were the Bartlett and escape the attention of these soil State bank Clayton and the Timecutting, eroding streams. Yes, these State bank Timewell. They garden lands between these four corresponding institutions the nestled the first garden beState Savings, Loan Trust comfour rivers. pany Quincy, which closed In early geological times these then Two other banks which State rivers began digging their way Auditor Oscar Nelson said closed through this once level ocean plain, connection the failure of the plodding their way down to the MisState Loan and Trust This process chiseling and pany Quincy, were the South Side is continuing to this day and of Quincy and the Payson State continue long time lasts, bank Payson. unless arrested by storage these waters toward their source putting Kentucky Hard Hit them to beneficial for Louisville, As lands broken out and cultivaKentucky banks with totalthese pirate rivers increase their ling about including the erosion be added to the never National Bank of which ending accumulations down toward been business here 96 years, closed the Gulf. their doors Killing Two Birds Man. the present day sculptor the world's man. the maker of the world's modern Edens, the foreruner every civilization. has made the modern geography on these


Article from The Paducah Sun, November 19, 1930

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PADUCAH BANKS PRAISED FINANCIERS Messages to Utterback Say the Situation Handled Admirably Here Messages congratulating Paducah upon the successful of the First National and Mechanics Trust and Savings banks with the City Bank have been ceived from number of leading bank officials of the United States. Without exception they have pressed gratification the working out of acute financial problem this city. James Utterback, president the City National, the following from Nugent, one the of the First National in Chicago: "Heartiest congratulations to yourself and associates. You have worked out constructive and civicminded arrangement and we wish success." Houston, chairman of the board of directors of AmeriNational bank in Nashville, Tenn., the concern which took over Caldwell interests after the failure of that large financial house. wire to Utterback: for the part you have played in stabilizing conditions your section. Please be assured our interest and desire to be These messages are two of many received at City National bank. Utterback, Louis Rubel, Jesse and Pierce have receivcongratulations from many their friends not only Paducah but throughout the district, followthe bank merger of Monday. Mr. Utterback said business ceeded under almost normal ditions at the bank today. The former patrons of the absorbed banks transacted their the City National, and checks drawn them were honored. The conhas been worked out astonishing smoothness and lack confusion. "There were very few withdrawmost of those who drew out their money Monday and Tuesday brought back today,' Utterback said. "We feel very gratthe spirit loyalty shown by the public. This has been an experience that testthe faith some in Paducah, and am sure that we are safely Reports the close of business Tuesday the City National showthat the institution, with the of the two banks purhas assets and resources amounting to nearly $10,000,000.


Article from The Owensboro Messenger, March 27, 1931

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Shows Net Loss Of $9,374,944 Court Orders Paducah New York, March Bank Deal To Proceed corporation ran far March into the red in 1930. its annual eph Laurent, receiver for the report showed today WednesThis company, the world's largday was authorized and directed by est aircraft manufacturing enterCircuit Judge Lafon Allen to take prise, together with its subsidiaries. such as are appropriate to the reported net loss for the year rights the the holder This attributed pri6,925 shares of stock of the marily sharp reductions in Paducah First National bank of plane Paducah, confirm the sale This compares with loss of of the bank's assets to the Paducah in preceding year. The City National Bank of Paducah. corporation was formed in 1929 Judge Allen's order also authorholding company for Curtiss Aeroized Mr Laurent to the proplane and Motor company, the ceeds of the sale to the extent of Wright Aeronautical corporation his interest as stockholder in the other aviation enterprises. bank. Sales, including airport an dothThe also was directed to revenues for 1930, amounted return to Fain W. King. Louis Ru$19,325,197. whereas the cost of bel, Dow Edson Hart, Louis selling, general and adminKolb, H. L. Richardson, Oscar istrative expenses listed at Hank. Well. Martin Yopp Inventory adjustments and J. Stahl, directors of the development expenses written off amounted to The First National Bank, Paducah, their company's deficit as of December respective certificates of stock for fifty shares each in the bank, which 31, 1930. applicable to CurtissWright stockholders was $18,179,- came Into the receivers hands with 515. the property of As condition of delivery, the direetors shall surrender to the receiver Damage Suit Against their receipts issued by the BancoRaskob Is Dismissed Kentucky company for the certifiWashington, March 26. (P)-A cates, order stipulated.


Article from The Paducah Sun, April 17, 1932

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CONTINUANCE FEDERAL COURT'S APRIL TERM WILL OPEN ON MONDAY accused but expected missed also convicted the attempt intimidate the witness Hunt and Bryan accused Pete and Huntalleged extorting money from them threat James Otto Clark and the Bryans charge liquor between GoldPond, Illinois. Deand scheduled The tried term court but hung jury resulted. Charge Intimidation Hopper will be tried on charge intimidating and impeding witness, Jule Dowell, had been ordered to appear and testify in the liquor trial. Dowell was spirited out of Paducah the Bryans and Hoporder to prevent testiprohibition officials charge. Beadles, former official the defunct First National Bank accused three separate indictments of violation national banking charged used his position fraudently obtain loans himself and made false bank reports. Eugene Bell and Jesse former Paducah bank ployes, who are accused in state charge $17,000 in funds the defunct Ohio Valley Bank and Trust probably will be tried federal court. federal charge been brought against them they have been indicted. assistant cashier funct National Bank. receiver for the Ohio Valley bank Fuqua bookkeeper The cases outstanding importance the civil and equity federal court dockets involve suit involving the defunct City National Emmett Holt. ex-sheriff and city of public safety defendant suit brought the state seek turn $15,000 alleged Holt from he made sheriff.


Article from The Paducah Sun, August 19, 1932

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Church Trustees Sue Bank Receiver Suit filed this afternoon McCracken circuit court by the trustees the Immanuel Baptist church against Jeff H. Hooker, receiver for the City National Bank, seeking to remove the bank trustee for $30,000 bond issue floated by the church in 1927. The plaintiffs are Guy Holland, Clyde Lofton and Ted Cooper, representing the board of trustees. The suit alleges that the First National Bank was originally trustee of the bond issue. When that bank closed, City National appointed trustee. The board now asks that defunct City National be removed as guardian of the bonds. The action was brought by Attorney Ben Adams.