7433. Farmers & Traders Bank (Paris, KY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 13, 1929
Location
Paris, Kentucky (38.210, -84.253)

Metadata

Model
gpt-5-mini
Short Digest
26512d17

Response Measures

None

Description

Articles report alleged irregularities and a shortage; the bank's assets and responsibilities were taken over by the Bourbon Agricultural Bank and Trust Company and the trust company acted as liquidating agent and sold the bank's furniture at public auction. No run is mentioned. Therefore this is a suspension followed by permanent closure/liquidation.

Events (2)

1. November 13, 1929 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Alleged irregularities in management and a shortage of several thousand dollars discovered in the bank's books.
Newspaper Excerpt
alleged irregularities that were found in the management of the Farmers' and Traders' Bank, showing a shortage of several thousand dollars and which resulted in the assets and responsibilities of that bank being taken over by the Bourbon Agricultural Bank and Trust Company, of Paris.
Source
newspapers
2. January 29, 1930 Receivership
Newspaper Excerpt
The Bank Trust Company, acting liquidating agents of the Farmers Traders Bank, which suspended ... sold at public auction today the furniture and used by the Farmers and Traders bank. ... the trust company acting liquidating agents of the Farmers Traders Bank, which suspended ... sold at public auction today the furniture and fixtures ... . (Lexington Herald, Jan. 29, 1930).
Source
newspapers

Newspaper Articles (2)

Article from The Daily Independent, November 14, 1929

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Article Text

Williams Judge Orders Jury Probe Of Bank Failure Paris, Ky., November 13.-Bourbon Circuit Court was convened yesterday for the November term, with Judge Ben G. Williams, Frankfort, presiding. In his charge to the grand jury Judge Williams called its special attention to alleged irregularities that were found in the management of the Farmers' and Traders' Bank, showing a shortage of several thousand dollars and which resulted in the assets and responsibilities of that bank being taken over by the Bourbon Agricultural Bank and Trust Company, of Paris. Judge Williams said the jury would be expected to make a careful investigation of the alleged irregularities and if justified to return indictments. Due to the making good of all losses. by patrons of the bank, it generally was supposed that the matter would be considered to be settled. Judge Williams said confidence of the citizens in their public banking institutions would be impaired if the jury failed to take cognizance of the Examination of the books of the Farmers' and Traders' Bank has not been completed and the actual amount of the shortage has not yet been disclosed.


Article from The Lexington Herald, January 29, 1930

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Article Text

Services call Lawrence Herald Office Bureau, Main Street. PARIS, Jan. the Bourbon court today, upon the Mrs. Mary Stoll. enwerck, George Batterton appointed the Bank and Trust Company administrator, de bonis non, with the will nexed, of the late Mrs. Ella Fothergill January, widow of the late Mayor E. January, K. Thom vice president the trust pany, accepted the trust and cuted bond in the sum $10,000 without surety, the charter of the trust company dispensing with Mrs. Stollenwerck, who the daughter and only heir the late January, is resident of Denver, Col. The Bank Trust Company, acting liq uidating agents of the Farmers Traders Bank, which suspended several sold at public auction today the furniture and used by the Farmers and Traders bank. The property disposed of includadding machines, banking fixtures, filing cabinets, steel letter files, desks, tables, etc., which by different people low prices, the adding chines, sold brought $29 This room by Mrs. David Feld, recently the Cohen and Perling stock of goods in this city. Judge George Batterton today ap pointed Shores administer the late Maria Shores. by executing bond surety. All of the parties are negroes. Get copy of the 1930 International Atlas of the United States and Canada. The most complete Radio Atlas ever published. Price 25c. Call Price, phone Herald bureau, 405 Main Allie Johnson, known and spected Paris negro, died his home Paris yesterday, following brief illness from pneumonia. Johnson transfer business and hauled many the business concerns in this city and county. Superintendent Lee Kirkpatrick announced the program for the University Kentucky Extension inaugurated Paris high week lows: Monday at February McFarland the Kentucky, his class general bot any: o'clock, Dr. of the University of Kentucky, organize his History, History the West.' afternoon, o'clock, Miss Horefield, University Kentucky will organize French, and Patrick will organize his psychology. Thursday af. ternoon o'clock Jones of the University of Kentucky, will organize Civ. ilization," and the day following Friday o'clock, Dr. George K. Brady, the University of Kentucky, will organize his new course English. These courses to the people this are all open who invited to tend any all of them at their pleasure. Mr. and Mrs. Withers Davis children leave tomorrow morning Eustis, where they spend several weeks with friends and relatives. Miss Jessie Brown, well known Paris business woman, through attorney, John Williams, this purchaser the bustproperty Richmond, now cupied the Phoenix Amusement Company's picture theater, and which sold auction SaturMiss Brown, who one the the owner. Edward paid for the property. the purchase an investment. New classes in bookkeeping and ing started the Paris High school These open adult residents of this the hours being from each Superintendent Kirkpatrick having calls for boys and train than supply and these courses offer genuine those desiring bust ness training. Members of the Paris Rotary Club at recent meeting, voted donate $100 the Paris High school band with needed musical Beginning the meeting next members the Rotary Club here will entertain different high school boys its weekly lunch eons. This an excellent work that the Paris Rotarians undertaking for the benefit the young local school and both members of the faculty the Paris school system preciate the interest shown the the local organization of business men. Mrs. Baum Webber, of Cynthiana, today for her parents, and Mrs. John Christman, Jr., in this city. Homer Stone critically the of his Mrs. E. Stone, in this city. Reports from the bedside of Har. James, home here, hold but little for the of the patient, though reported this having spent more restful day.