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DEPOSITORS CAUSES BANK OF BLACK DOORS TODAY
Salurday's Daily) of Black Oak, years regarded one of the strongest among the banks of the eastern district of the county, closed its doors last night and today in charge of representative of the State Banking Department. Boyd, president of the bank, informed Sun day that slow run on the bank has been in progress ever since the day the First National Bank closed Boyd stated although there was no connection whatever between the two institulions, yet the effect of the closing the First National resulted serious run on the Black Oak bank, which has suffered an average loss deposits of $1,000 day since the First National closed. The Black Oak bank not keep its Jonesboro account the First and has money involved Ibère. The capital stock of the Bank Black Oak $10,000 surplus the same amount. Deposits when the bank closed last night were Mr. Boyd also informed that State Bank Examiner Jarrett charge of the Bank of Black made complete in solvent condition. officers feel that even though the bank not reopened the depositors will not lose part any money. learned that there move on foot effect immediate reopening of the Bank of Black Oak. The bankers Jonesboro, is understood, will hold meeting tomorrow at which time, some plan expected to arranged to reopen once, great amount of financial assistance will be necessary to permit the bank on sound The official statement bank made April showed total $106,918.17, which loans and discounts were real estate cash hand showed deposits $66,824.59, and Bills Payable $20,000. reported that when closed Bills Payable were $10,000. Officers of the Bank of Black Oak were Boyd, president and these Taylor Dowell and the above directors and Pittinger also the National
