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CLOSED MONDAY The Monroe County Exchange Bank Holliday failed to for business Monday by order of the Board of Directors, after board had been held Sunday night. McCreery, cashier of the stated to an Appeal porter Monday that steady withdrawduring the last few weeks had run cash reserves down the danger point and that little money had been put back into the institution. There on the bank but uniform withdrawal, small amounts, most the money going out for feed for and had been hit the drought and general farm deOther factors contributing the closing have been practice depositors investing their surplus in bonds, and loans which collection was made impossible by the recent drought and near crop failure. The Exchange Bank is the ninth in Monroe County close its doors since the fall of 1924. There now only in county, where 16 formerly flourished. At the close of business Saturday, according McCreery. cashier, bank demand deposits of time deposits and payable of Loans totaled and there cash of approximately $4,000. Other smaller items included in the resources. McCreery, cashier of the institution, stated Monday that he lieved would be paid full, although stockholders might lose what they have in the bank. He statthat the bank could fail to realize of resources and still depositors cents the dollar. Tuesday, the State Finance Commissioner took charge of the bank for liquidation purposes and sent man there from Jefferson City to superintend work. The Monroe County Exchange Bank organized with capital $10,000 and surplus $10,000. was reorganized fifteen years with capital $15,000 ago and surplus of The latter was increased to shortly afterwards. Curtright president, cashier; Wilson and Mrs. Chas. Glascock, assistant cashthe closed bank. Directors Curtright, McCreery, Fred Evans, Webb, Houck, Hall and Judge Curtright. Early this year, the Peoples Bank Holliday absorbed the Exchange Bank, John coming the closed bank from the Peoples. All the business of the Peoples Bank been The first Board of Directors of the Bank composed Adams, president; McGee, Benjamin Utterback, Capt. Hugh Stewart, Evans, Houck and Curtright, direcHouck Curtright the only two members of the original board serving that capacity. after of the most flourishing banks in county, the stock rising value above $250 per share one time and cent one year to pay good dividends until 1923. Mr. Monday that during the life institution stockholders had in dividends, that the original owners could lose their stock and still be ahead their Mr. has been cashier of the bank since comfrom Florida, in eastern Monroe County.
