Bank of Blakely (Blakely, GA)

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THE BANK OF BLAKELY IN THE HANDS OF RECEIVER Institution Declared Insolvent by the State Bank Examiner. Hon. Clifford Walker, attorney general of the state of Georgia, came to Cuthbert this morning and presented to Judge W. C. Worrill of the superior court a bill for the appointment of a receiver for the Bank of Blakely, now in the custody of the state bank examiner. An order was granted appointing Walter G. Park of Blakely temporary receiver and setting the interlocutory hearing in the matter at Blakely on July 13th.Cuthbert Leader.

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THE BANK OF BLAKELY IN HANDS OF RECEIVER Closed Its Doors Because of Inability Realize on Its Assets. The Bank of Blakely, after a thorough examination by a state bank examiner, lasting about three weeks, was last Friday placed in the hands of Col. Walter G. Park as temporary receiver pending a hearing before Judge Worrill next Tuesday for the appointment of a permanent receiver. These proceedings were instituted by Attorney General Clifford Walker in behalf of State Treasurer Speer. Mr. D. W. James is* the president and chief stockholder in the bank, which was compelled to close its doors because of inability to realize upon its assets. It was the oldest bank in Blakely and had a capital and surplus of $110,000.-Early County News.

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JAMES TURNS $27,870 IN NOTES OVER TO COURT Judge Worrill Refuses to Purge ExBanker of Contempt Charge. BLAKELY.-D. W. James, who was adjudged in contempt and remanded to jail by Judge Worrill for failing to turn over to the receiver of the Bank of Blakely certain Helen Lumber Co. notes, and to account for certain others of which he had disposed, has complied with the court's order to the extent of turning over such notes as he still had in his possession, amounting to $27,870, and showing what disposition he had made of the proceeds of the other notes. His attorney also filed motion asking that he be purged of contempt upon the showing made, and released from jail. Judge Worrill overruled the petition. James' friends are much depressed by the unfavorable outcome of his clash with the court, and many would be glad to see him triumph over his adversities and rehabilitate his fortunes.

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BANKER D. W. JAMES

JAILED FOR CONTEMPT

WEALTHY CITIZEN OF BLAKELY REFUSES TO PRODUCE NOTES DEMANDED BY COURT.

BLAKELY, Ga. - D. W. James, prominent in business circles and formerly one of the wealthiest citizens of this section was last night sent to the Early county jail under a contempt charge.

The transaction under which Mr. James has been sent to jail grew out of the failure of the Bank of Blakely nearly a year ago, Mr. James being president of the bank.

At that time Mr. James disposed of a large saw mill property at Helen, Fla., receiving in the deal notes amounting to more than $40,000. In the case of the receiver of the Bank of Blakely against the Blakely Oil and Fertilizer Co., of which James was also president, he claimed that these Helen Lumber Co. notes were the property of the Bank of Blakely. The receiver then asked the court for possession of these notes. The court passed an order allowing Mr. James to negotiate for the sale of the notes in order to pay off the depositors of the Bank of Blakely. The result of his negotiations were to be reported to the court for approval by the judge. Then Mr. James was to enter into a bond for $30,000 and he could sell the notes and pay off the bank's creditors.

On examination in the Blakely Oil and Fertilizer Co. case Tuesday Mr. James still claimed that the notes belonged to the Bank of Blakely, yet stated that he had disposed of a portion of the notes and had only about $35,000 of them.

A rule was then brought against Mr. James to show cause why said notes should not be turned over to the receiver of the Bank of Blakely, and on the hearing Mr. James stated that he could produce only $26,000 of the notes, and failed to account for the balance.

The court after waiting for some time then ordered him to turn over the notes on hand and account for the balance, and in default to be committed to jail for contempt. The matter of the notes has been pending for several months, and it is claimed that the court has shown considerable indulgence to Mr. James and has given him every opportunity to respond to its orders.

The action of the court in sending Mr. James to jail has created wide-spread interest.

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JAMES CONTEMPT CASE IS APPEALED Goes to Supreme Court on Bill of Exceptions from Early Colquitt, Ga., May 1.-The contempt case wherein D. W. James; of Blakely, was adjudged in contempt by Judge -W. D. Worrill, was Saturday taken to the superior court on a fast bill of exceptions by the attorney for Mr. James, Billie B. Bush, who has been representing him for some time. Judge Worrill signed the bill of exceptions while sitting at the Miller superior court here. James contends that he was entitled to a jury trial on the question of contempt and that he had fully purged himself when he delivered to the receiver of the Bank of Blakely all of the Helen Lumber Company notes that he had and made a showing for the proceeds of the balance. The fast bill of exceptions will be heard by the supreme court, so Attorney Bush states ,on the 25th day of May. Mr. James, it seems, made every effort to stay out of bankruptcy proceedings until it was inevitable. Mr. Bush secured at one time an order from Judge Worrill revoking the receivership for the Bank of Blakely by giving a bond to pay the debt of the bank, and it was thought that the affairs of Mr. James had been satisfactorily arranged, but the bondsmen became dissatisfied and this threw the bank back into the hands of I a receiver. The receiver now appointed for Mr. James was made on the part of Mr. James through his attorN ney, who on account of engagements in Miller superior court, in P assisting the state in the case of B R. E. Fudge, charged with murc der, got Moss, Smith, Hammond t1 &Smith, of Atlanta, to present the petition to Judge Newman. b Mr. Bush will attend United n States court in Columbus this O week' to look after the receiverE ship case and adjudication of Mr. b James. to It is stated that Mr. Bush will g likely institute habeas corpus proP ceedings before Judge Newman and endeavor to have Mr. James parting released from jail. In the meanlo time the contempt case will still be before the Supreme Court of th Georgia.

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RECEIVER APPOINTED FOR JAMES PROPERTY BLAKELY BANKER FILES VOLUNTARY BANKRUPTCY PETITION. HE IS STILL IN JAIL. COLUMBUS, Ga.-Judge Wm. T. Newman. of the United States court, has appointed R. O. Waters, of Blakely, receiver for the estate of D. W. James, a prominent Early county citizen, who filed a voluntary petition in bankruptcy here yesterday with assets of $426,836.54 and liabilities of $153,339. Mr. Waters, as receiver, will take charge of the James farms and business affairs and conduct them. Judge Newman fixed his bond at $10,000. Mr. James is now in jail in Blakely, having been adjudged in contempt of the superior court of Early county in not turning over certain notes to a receiver appointed by Judge Worrill, and the burning issue among the lawyers and others interested is, whether James' affairs now being in the bankTO ruptcy court the lower court will cease to have jurisdiction over any of his business affairs and he will " thereby be discharged from imprsionment. James Asked for Receiver. Appointment of a receiver for his estate was asked for by Mr. James himself. through Attorneys Smith, Hammond & Smith, of Atlanta. In his petition he sets out that he has TO been engaged in business in Early county for the past thirty years; that he owned $73,000 of the capital stock of the Bank of Blakely, which failed April 7, 1915, and $27,000 of the capital stock of the Blakely Oil and Fertilizer Co., which was placed in o the hands of a receiver on April 8 last; that the failure of these two ini stitutions of which he was the o president and majority stockhoider, impaired his credit and made him une able to meet his obligations, and y hence he filed a petition in bankruptno cy for the protection of himself and all concerned. Hundreds Are Affected. C Continuing the petition :ecites that ( James operates 175 plows on 9,500 t acres, that between 500 and 1,000 I people work on his farms. and that I it is necessary to have a receiver to continue the farming operations, alI ready begun, and to provide for those now at work there. J Mr. James states that he is now in t Early county jail, having been placed there for failure to deliver to the receiver of the Bank of Blakely certain o notes. He asserts that he could not I deliver these notes to the receiver as he had used the proceeds of a portion of the notes in paying taxes and maintaining his farms. He clams that with a wise adminf stration of his affairs his assets i will more than meet his indebtedness. I