First National Bank (Fulton, MO)

Article Text

BANK CLOSING DIDN'T CAUSE EXCITEMENT

DEPOSITORS OF FIRST NATIONAL BANK ACCEPTED SUSPENSION PHILOSOPHICALLY

ACCEPT OFFICERS STATEMENT

Other Fulton Banks Caring for Business Men Who Were Depositors and Business is as Usual.

Though the depositors of the First National Bank of this city were discommoded by its failure to open for business Wednesday morning there was no evidence of panic or excitement to be found anywhere in Fulton over the matter. The depositors accepted the situation in a logical manner, accepted the statements of the bank officials as given to them personally and through the newspapers and went about their business as usual. The same was true of the depositors of the other banks of the town. They realized that the financial difficulties of one bank did not involve the others and that there was no occasion to become excited. E. W. Frank, of St. Louis, arrived Thursday morning and is assisting Vance Sailor in checking over the books of the First National Bank and preparing for a statement to the federal banking authorities of the 8th Federal District of which this is a part. No statement or expression will be given by these examiners to anyone other than headquarters and they are going about their task without interruption by questioners or others. The front door of the bank was open Thursday and several customers of the bank approached the tellers window with checks to deposit or cash, not having heard of the suspen. sion of business by the bank. The situation was explained to them by a representative of the bank at the time. This, perhaps, more than anything else shows the lack of excitement which the closing of the bank occasioned. The Fulton business men carrying accounts with the First National found the other banks of the city willing and ready to accommodate them and banking connections were quickly established.

Article Text

CLOSING EXCITEMENT

DEPOSITORS OF FIRST NATIONAL BANK ACCEPTED SUSPENSION

ACCEPT OFFICERS STATEMENT

Other Fulton Banks Caring for Busless Men Who Were Depositors and Business is as Usual.

Though the depositors of the First National Bank of this city were discommoded by its failure to open for business Wednesday morning there was no evidence of panic or excitement to be found anywhere in Fulton over the matter. The depositors cepted the situation in logical ner, accepted the statements the bank officials as given to them sonally and through the newspapers and went about their business usual. same was true of the positors of the other banks of the town. They realized that the finandifficulties of one bank did not involve the others and that there was occasion to become excited. Frank, of St. Louis, arrived Thursday morning and assisting Vance Sailor in checking over the books of the First National Bank and preparing for statement to the eral banking authorities of the 8th Federal District of which this No statement or expression will given by these examiners to other than headquarters and they are going about their task without interruption by questioners others. The front door of the bank Thursday and several the bank approached the checks deposit having heard of the business by the bank. The explained to them of the bank the perhaps, more than shows the lack of which the closing of the bank occasioned. The Fulton business men accounts with the First National found the other banks the city and ready accommodate them and banking connections

Article Text

St. Louisian Named Fulton Bank Receiver

By The Associated Press. FULTON, Mo., April 27.-R. R. Carraker, St. Louis, was today pointed temporary receiver for the defunct First National Bank here, according to an announcement by Vance L. Salior, national bank examiner who has been in charge of the institution since April 14, the date of the closing. Mr. Carraker will arrive this week to take over his duties at the bank. T. Harrison, prominent Callaway county land owner, was president of the bank and John W. Sug. gett was cashier. Total assets at the time of closing was approximately

Article Text

Bank Receiver Appointed

R. R. Karraker, of St. Louis, has been appointed temporary receiver of the First National Bank, of Fulton which was closed April 14, and took charge of the institution Tuesday.

"Appointment of a temporary receiver will in no wise affect the bank's plans for reorganization," an official of the bank stated today. "We are going ahead with our plans for reorganization and hope to be able to reopen in the near future." Mr. Karraker is said to be an experienced banker and has recently finished the work of liquidating the affairs of the Drovers National Bank in East St. Louis.

Entertained Tuesday Club

Mrs. John Swon entertained the Tuesday Club last Wednesday afternoon, this being the first meeting for some months. The Club was recently reorganized and several new members taken in. Those present last Wednesday were Mrs. W. R. Buckner, Mrs. Dick Biggs, Mrs. J. A. Harrison, Mrs. E. C. Wood, Mrs. C. H. Hook, Mrs. S. G. Wood, Mrs. Anna V. Meyer, Mrs. W. H. Yates, Mrs. S. W. Tompkins, Mrs. John Miller and Mrs. George Hunt. The/afternoon was spent playing Rook, after which delicious refreshments were served.

Article Text

PAY OFF CREDITORS

In the three months since the First National Bank of Fulton. suspended business on April 14. the bills payable of the institution, amounting to $40,000, and more than $70,000 of its discounts have been liquidated. considerable sum of money, estimated $35,000, is also in the hands of the ceiver and eventually will be used off the depositors. By the term bills payable is meant money borrowed from other banks than the Federal Reserve. By the term rediscounts is meant money bor rowed from the Federal Reserve Bank on hypothecated notes. Rediscounts the day the bank suspended totaled $105,000. They now are under $35.

Mrs. Tom Lee Missoula Mont., will arrive Saturday to be the of her aunt, Miller.

The Intelligencer Want

Article Text

MINE UNION OFFICIAL DYING AFTER SHOOTING

TAYLORVILLE. ILL., March 29 DEFUNCT FULTON BANK Pat 32, Democrat committeeman and mine union official, was PAYS 60 PER CENT thought to be dying today as offiFULTON, MO., March 29 -Checks cers searched for the 55-year-old mine examiner, Charles Ellison, who from the Comptroller of Currency at Washington were received here yesterday shot Lawless after fist today by D. Cutts, receiver for fight on the main Street of Kinthe First National Bank, which cald, mining community west of here. closed its doors almost a year ago. Lawless was reported better Payments being made to deposearlier in the day at St. Vincent's itors on the basis of 60 per cent, Hopsital, but this evening his con- Cutts reported. All day there was a dition took sudden change for the steady stream of former patrons of worse and It was doubted that he the bank making affidavit to their would live through tomorrow The claims and drawing accounts from bullet entered his abdomen, passed the checking and saving departthrough his body and broke plate glass window in Kincaid grocery. Cutts said that additional diviRoy Ellison, 35, son of the fugi- dends payments will be made in the tive, today was assisting county of- future. Just how much these will ficials in their quest for his fa- amount to, he unable to say. ther. The elder Ellison, after noti- He estimate that he would pay out fying officers that he would await in excess of $165,000 at this time arrest at his Kincaid home and then and the comes as boon to telling his wife he was coming to the business interests of the city. Taylorville to surrender, apparently has escaped. CALLAWAY CO. COUPLE

Article Text

First National Bank of Fulton Pays 60 Per Cent

Other Dividends Will Be Paid as Money Is Collected Receiver Said.

A. D. Cutts, receiver of the First National Bank of Fulton, announced Tuesday that dividend representing a payment of 60 per cent have been received from the Comptroller of Currency, Washington, D. C., and are now available for distributio]. Mr. Cutts stated in this connection, that it will be necessary for all persons holding receiver's certificates of proof of claim to present same at the bank before delivery of the checks can be made. "The distribution at this time amounts to well over one hundred and fifty thousand," Mr. Cutts said Tuesday morning. In this payment of 60 per cent are included the individual and time deposits and the money borrowed by the bank, also the payment of the cashier checks and drafts which had been issued before the bank suspended business and which had not been paid off. What per cent of the hundred and fifty thousand will be turned into the hands of Callawggians not known but practically all of the money on deposit was by local people. The First National Bank closed its doors on April 14, 1926, nearly 12 months ago. Some of the delay in making this first payment is due to fact that negotiations were pendfor several months for the taking over of the accounts by other banking institutions of this city. While these negotiations were in progress but little was done towards settling the business of the bank. Unofficial figures place the amount of the deposits, including individual and time certificates, at $268,000.00 to $276,000.00. Basing the calculation on the latter amount the money to be released in this community at this time is $165,600.00. Fulton Snn-Gazette.

Article Text

First National Bank of Fulton Pays 60 Per Cent

Other Dividends Will Be Paid as Money Is Collected Receiver Said.

A. D. Cutts, receiver of the First National Bank of Fulton, announced "Tuesday that dividend checks representing a payment 60 have been received from the Comptroller of Currency, Washington, D. C., and are now available for distributio]. Mr. Cutts stated in this connection, that it will be necessary for all persons holding receiver's certificates of proof of claim to present same at the bank before delivery of the checks can be made. "The distribution at this time amounts to well over one hundred and fifty thousand." Mr. Cutts said Tuesday morning. In this payment of 60 per cent are included the individual and time deposits and the money borrowed by the bank, also the payment of the cashier checks and drafts which had been issued before the bank suspended business and which had not been paid off. What per cent of the hundred and fifty thousand will be turned into the hands of Callawggians is not known but practically all of the money on deposit was by local people. The First National Bank closed its doors on April 14, 1926, nearly 12 months ago. Some of the delay in making this first payment is due to the fact that negotiations were pending for several months for the taking over of the accounts by other banking institutions of this city. While these negotiations were in progress but little was done towards settling the business of the bank. Unofficial figures place the amount of the deposits, including individual and time certificates, at $268,000.00 to $276,000.00. Basing the calculation on the latter amount the money to be released in this community at this time is $165,600.00. Fulton Sun-Gazette.

Article Text

NATIONAL BANK OF FULTON PAYS SECOND DIVIDEND.

Mr. Cutts, receiver, First National Bank, Fulton, Missouri, announced today the payment second dividend 10 cent. per The involved in this distriis $25,326.25 and makes total of per cent or by receiver since March this year, the bank having susbusiness

Article Text

Making Good In School Work

Francis English, of east of Auxvasse, a graduate of the Auxvasse High School, has our thanks for an invitation to attend the graduating exercises of the Kirksville Teachers College. We would be pleased to attend these exercises, but on Student Council, Editor-inChief of the Index, and member of honorary Blue Key Fraternity, Social Sigma Delta Tau, six quarter on honor roll of college (upper 5 per cent in grades) and have been elected superintendent of schools at Middle Grove, Mo., for the next school year." We predict that Francis will make good in this position as he has done in everything educational he has undertaken. "Onward and Upward" is his motto.

National Bank Pays Dividend

Mr. A. D. Cutts, receiver of the First National Bank of Fulton, issued a statement Tuesday to the effect that dividend checks in payment of a second dividend of ten per cent are now in his possession and available for distribution at must be presenamount involved in this distribution is $25,326.25 and makes a total of 70 per cent or $177.303.32 paid by him as Receiver since March of this year, the bank having suspended business April 13, 1926.

Article Text

FAILED BANK PAYS AGAIN

Fulton, Mo., July D. Cutts, receiver of the First National Bank of Fulton, ,announced today the payment of a second dividend of 10 per cent. The amount involved in this distribution is $25,326 and makes a total of 70 per cent or $177,303. paid by him as receiver since March, this year, the bank having suspended business April 13, 1926.

Article Text

CHILD BADLY Fingers Hand Amputated And Right Arm Crushed and May Lose the Arm.

CUTTS. NOUNCES CHECKS ARE READY FOR DISTRIBUTION

TO BE PAID OUT

First Dividend Was Paid in March, This Year, Amounting to 60 Per Cent

Mr. Cutts, Receiver of First National Bank of this city, issued statement Tuesday to the effect that dividend checks in payment dividend of 10 per cent are in his possession and available for distribution the bank to all holding Receiver's certificates. Receiver's certificates must be presented for proper endorsement before the checks can be delivered to the payees. The dividends to be paid at this time aggregate $25,326.25 and makesa total of 70 per cent paid since the bank suspendbusiness April 13, 1926. The first dividend of 60 cent having been per paid in March of this year. Simultaneously with the issuance the above statement Mr. Cutts leased compartive statement showing the condition of the bank at date suspension and the close quarterly periods ended March and June 1927. This statement shows that the April 1926, when the bank suspended totaled receivable on hand $7,505.31 other assets The that time totaled The statement of June shows stock assessment of $100,000 and additional assets of added to the statement of April totaling The maining assets on follows: Bills receivable other than stock assessment total Liabilities on June total claims proven 794.95, unproven claims Dividends June 30th amounted to cash on hand After the payment of the second dividend there wll remain claims paid of To meet these claims will be cash on hand and collected assets of

Gingrich of the Bachelor Fulton Thursday. very sad and serious dent that will make the year-old son Berry of Bachelor cripple does not cost the life. The ing near gasoline engine that was pumping water, when in way caught in the belt and the ond and third fingers of its left hand torn off and the right crushed the elbow and the ligaments torn. The child rushed the drain hospital Mexico, where the fingers were amputated and feared that the right will have be taken off near the shoulder.

Article Text

St. Louis Business and Financial News

FOREIGN EXCHANGE-

Foreign exchanges firm: tions in cents: bles, $4.85 9-16: sixty-day bills on Quotations in France Demand, 8.91%: cables. 13.89. 23.77. Norway-Demand, 25.83. Demand, 26.77. Spain-Demand, 17.06. 1.76.

42.50.

SECOND DIVIDENDD. Cutts, receiver, First National Bank, Fulton, Mo., announces the payment of a second dividend of 10 per The amount involved in this distribution is $25,326.25 and makes total of 70 per cent or $177,303,32 paid by him as receiver since March of this year, the bank having suspended business April 13,

COFFEE.

By NEW Associated YORK, Press. 27.-Coffee futures opened today points selling by reports of liberal offerings from Brazil

Article Text

FIRST NATIONAL BANK, FULTON. MISSOURI, PAYS SECOND DIVIDEND OF 10%

Mr. A. D. Cutts, receiver. First National Bank. Fulton. Mo., announced today that dividend checks were in his possession for payment of a dividend of 10 per cent to all creditors of the bank holding receivers certificates. The certificates must be presented for proper endorsement before the checks can be delivered to the payees. The first dividend paid by this receivership was for 60 per cent and the total amount paid to-date. after the checks now on hand have been disbursed, will equal $177,303.32

Orlando Worrell has returned from Chicago where he spent the summer. He purchased a Dodge sedan in Detroit and drove It home.

E. S. Wilson of Jefrerson City, formerly of Mexico, was here Saturday.