State Superintendent Telford Bank Receiver
(By Associated Press) Johnson City, Tenn., March 26.H. L. Grigsby, state superintendent of banks, yesterday was appointed receiver of the Bank of Telford, which closed March 18 after a reported shortage in the accounts of Fred H. Wagner, cashier. Mr. Grigsby said assets of the institution would be liquidated for the benefit
STATE SUPERINTENDENT TELFORD BANK RECEIVER
JOHNSON CITY Tenn. March 25 L. Grigsby ent of banks, today was appointed ceiver the Bank of Telford which closed shortMr Grigsby institution liquidated for the benefit depositors Auditor Clark reported shortage Wagner's given has that Wagner bond ed has and that will forfeit the
3.March 26, 1930The Atlanta JournalAtlanta, GA
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Article Text
Bank Receiver Named
TELFORD, Tenn. March H. L. Grigsby, state superintendent of banking, Tuesday was appointed receiver for the Bank of Telford after it announced that shortages amounting to found the accounts Fred Wagner, vice president and cashier The of Mr. Grigsby Miller made by Chancellor Johnson state quite bank examiner, the audit not complete.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.