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Banks Fail To Open Pending Merger Close Associated Ark., Dec. The First National Bank here did not open this morning and anwas made in posted nouncement the bank had closed notice that with the Farm"pending merger ers Bank and Trust Company." Coincident with the announcement officers of the two institutions went into conference behind closed doors. The First National and the FarmBank and Trust Company are the only banking institutions in Blytheville.
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MORE FIVE BANKS FAIL OPEN UP AT BLYTHEFIRST NATIONAL CLOSES FOR MERGER VILLE AT STEPHENS ANOTHER Blytheville, Ark., did National open this morning and anmade in a posted nouncement was the bank had closed pending notice Farmers Bank with the merger Coincident and Trust Company." officers of the announcement with institutions went the two ference behind closed doors. and the FarFirst National The mers Bank and Trust Company are institutions in the only banking Blytheville. Ind., Dec. New Albany, The New Albany American Bank re-opened Trust Company and having been today after here closed since November 20. It was to safeguard by directors closed financial conafter resources disturbed by here were ditions in Kenof bank closings series tucky. Conn., Dec. Norwalk, Trust ComCentral Fairfield The towas suspended of this city Bank Commissioner State The bank Lester Shippee. funds or reout forbidden paying court hearuntil a ceiving deposits is held.
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2 CITIES WITHOUT BANKS Four Illinois Financial Institutions Are Closed Four Illinois ban were day. two an apparent of the failure last week of the growth Benton National Bank The First National Bank of Marion City State Bank and the their both banking facilities. The other were the State Bank Rock Grove and the Marine Trust Bank of Carth. age. Virginia Bank CHATHAM (A. The Chatham in oldest financial failed open for sylvania business The bank was talized at $100,000. Bank Merger Planned Ark., (A BL National Bank of First Blytheville did not open today and posted the door said announcement with had closed "pending merger the Farmers Bank and Trust Company. Order Bank Suspended NORW Conn., (A. Fairfield Trust The of this was today pany city by means restraining order E State Bank Commissioner Lester Shippee. The order forbids the bank from out funds receiving paying until court hearing of The action chief examthe bank by iner of the State Banking Depart ment.
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INDIANA BANK SHUT, REOPENS Two Small Institutions in Arkansas Close Monday for Reorganization New Albany, Ind., Dec. Albany American Bank Trust company reopened Monday after 20. was closed by directors to safeguard its resources after conditions here were disturbed series of bank closings in Kentucky. Blytheville, Dec. First National bank here did not Monday and announcement made posted notice that bank closed "pending merger with the Farmers Bank and company.' Coincident the announcement officers the doors. First and the Farmers Bank Trust are only banking institutions in Blytheville. Ark., Dec. Peoples bank Monday for Officials closing was for with the Bank of Stephens. Va., Dec. oldest in Pittsylvania failed to open Monday. The bank capitalized $100,000 note the door the bank was closed by order of the banking department. Officers said approximately $25,000 of Pittmoney on deposit was protected by bond. Norwalk, Conn. Dec. Central Fairfield Trust company this city was suspended Monday State Lester Shippee. bank ing funds deposits court held. The bank's difficulties largely the result heavy shrinkage in commercial deposits.
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TOSED PENDING MERGER (A First National bank of Blytheville did not open today An said had closed "pending merger with the ers' Bank and company The Bank and Trust
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WORK ON PLAN TO RE-OPEN BANK AT BLYTHEVILLE Blytheville. December Hope that First National Bank which failed open its doors Monday morning. would again be re-opened on sound financial basis. was today was learned directors and stockholders were working plan which they hope will effect re-establishment of the institution within short time. While those in the conference refused to divulge any definite information. it became known they regarded the situation with markDefinite knowledge of the bank's future pected tomorrow or Thursday. William Young, national bank assumed charge of the bank's affairs today until decisreached and an acceptable plan submitted to the comptroller the the bank will not be placed in the hands the receiver. The thing that strikes most in advertisement prices on mattresses" the writer's lack imagination.
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Verification of First tional's Records Is Step Toward Reopening. Auditors were at work today on the books of the First National making check which establish definitely the amount of the shortage which Scott Shipman, former bank employes. are now in county Jail awaiting federal prosecution embezzlement and falsification of records. The audit, sought by directors the bank preliminary to opening of the institution, was thorized yesterday by treasury partment officials, and Peck and two members of the staff Peck Auditing company of W. Robertand Young, were here today to commence work. Officers of the bank said this morning they were ready to make application to the comptroller for authority reopen institution soon the audit completed. provided that does not reveal shortage substantially in excess the $50,000 revealed check of the books by William Young. bank examiner, and bank employThat the shortage will the amount now apparent regardas extremely unlikely. the books have been carefully examined and great many individual counts verified. Impossible to say now how long the audit will take what lay, if any, may be experienced permisson to reopen. but officers the bank are hopeful that the institution will doing business within few weeks. The past week has seen the prosecution Scott and and Max B. Reld. their attorney, said that he planned in touch with the United district attorney's office at Little Rock his afternoon in an effort ascertain the reason for delay filing charges against them. Charles Jenkins, department of justice agent left Blytheville last week. supposedly to report findings in the case the district but no word been had since then by anyone interested the
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CHARGES Jonesboro, Ark., Dec. 23.-A E. Scott, cashier; E. B. "Izzy" Thomas, assistant cashier, and Junius E. Shipman, bookkeeper, of the closed First National Bank at Blytheville, are in jail here today following their arrest in Blytheville on federal warrants charging embezzlement, and destruction of records. Scott and Shipman had been in jail at Blytheville for two weeks on state warrants. The arrest of Thomas came as a surprise, the charges against him being preferred by Charles Jenkins, Department of Justice agent, who also swore out the warrants against the other two. They were given preliminary hearing before U. S. Commissioner Edward Wastbrooke. All three entered pleas of not guilty and waived to the grand jury. Scott was held on bond $2,000, and the other two on bonds of $1,000 each. Westbrook stated today that no effort had yet been made to secure release of the men on bail and Max B. Reid, attorney for Scott and Shipman, was out of the city. Scott and Shipman have admitted their part in the shortage but say they only got small amount of approximately $37,000 they could account for, but Thomas denies any connection with it. The bank examiner, who discovered the defalcations, placed the shortage at approximately $50,000, and auditors are working to determine the exact amount.
Been Approved by Comptroller serve Board Members. The First National Bank of Blyclosed since resume business after stockholders meeting to February stated ning by Little, executive vice president the institution, followreceipt telegram from with the that the bank's application been given the approval the the currency and Informal approval the fed reserve Only the noc-ssity of obtaining from the stockholders formal inention of the bank's inoposal reduce capital stock from in the way opening. The law quires thirty notice to stockholders such meeting. and this notice was In the for the niceting for February The bank will reopen with number of changes In personnel: Mr. Little will remain In charge ns executive vice president. assistant for the year, will the cashier's desk. Roy Walton, long director of the bank and manager of the Jones Grocery company, be cashier. and Ford. nt one the with the old Bank of Blythe ville and later cashier of Paragould, now with the state banking department. be assistand teller. The new members of the bank's staff are well known In ville and in this territory. Mr. Snyder was cashier of the Bank Stecle before coming here, and that connected with City been resident twenty and has always been netive business; civic and church affairs. Mr. Ford has many friends here, dating back to time he was resident of Mr. Little, who with Joe Tenacs. president of the bank. Mamember of the and returned Inte yesterday after conferring with treasury department officials himself well satisfled with the results of the trip the national "While had hoped obtain authority to reopen the bank at an date." he "our eiple object. the obtaining authority resume has been Assets Approved While in Washington officers of the First National reviewed the bank's assets with treasury department officials and received report that the not only in shape to open but was actually soundcondition than many banks operating. The bank party made the trip to the capitol by automobile They report pleasant jeurney. ful for few thrills except dental to negotiations of mentain highways. While at this time fix definitely the date on which the bank the officers confident that will are few days the be within February meeting. the mean time the bank's new personnel will have nn opportunity to become with the institution's and with the duties which they will take over. the First Nationreduce to the bank of Mississippi county instlnumber tutions that victim to the wave of bank suspensions that swept Arkansas November December. The Bank of Manile. which closed for short resumed business several weeks The Bank of and First State Bank Osceola the been turned over to state have department for tion.
INDICTED BANK CLERK HAS NOT BEEN ARRESTED Blytheville, March 10.-Late today Arden B. Crowder. aged 24, former employe of the First National bank, who was indicted by the Federal Grand Jury as Helena yesterday, had not been arrested. It is reported here that the indictment against Crowder was unexpected No official of the local bank appeared before the Grand Jury. It was reported that Crowder talked to federal officials at Jon N3boro today, advising them he was ready to surrender. Crowder had not been employed by the bank for almost a year before the bank suspended business the institution about two years in the bookkeeping department and resigned to go to an officers' training camp of the National Guard. TOWN OF HUMPHREY MAY HAVE 'PETTICOAT RULE' Pine Bluff, March 10-Unless
Employes Arraigned at Jonesboro National Cashier Pleads Guilty on One of Six Counts. Four officials and playes of the First National bank this city were arraigned before Judge Martineau in federal court Jonesboro this morning on chargof embezzlement and conspiracy connection with shortage approximately $50,000 which was discovered while the bank had suspended business last December. Scott former cashier, tered plea of guilty to false entry and pleaded not guilty to five other counts contained in the indictments against hini. Junius Shipman. Thomas and Arden Crowder pleas of not guilty charges of Trials the former First National employes set for Wednesday. Thomas former assistant cashier, Shipman and Crowder filed demurto the Indictments against them and the motions were to be argued afternoon. Shipman's demurrer motion by Judge Martineau all five counts. Similar motions by Thomas, who is indicted on five and who is indicted on two counts. were be heard later this afternoon. Max Reid, attorney Scott. Leon Smith, attorney for Shipand Thomas. and Judge Zal Alexander and Claude Cooper. counsel for Crowder, were in Jonesboro to represent their clients.
Blytheville's First National Bank Closes The First National Bank, of Blytheville, Ark.. closed last Friday, following decision of the board of directors to turn the institution over Federal authorities for liquida- The bank reopened in February after closing for three months. There was no run on the bank but heavy withdrawals of deposits discouraged further efforts to revive the institution. The conduct of business since February had been very successful in liquidating assets towards full settlement with depositors which the officials believe is probable. The closing caused but little disturbance in business circles. Blytheville now has only one bank, considered however an excellent institution.
Bradley Is Bank Receiver Of Caruthersville Bank Blytheville Jun appointment of R L Bradley of this city receiver for the defunct First National Bank Caruthersville Mo., WHI announced yesterday by the comptroller of currency at Washing- Bradley who is also receiver for the closed First National Bank of Blytheville where he has been stationed more than year. will continue the liquidation of the local stitution and will divide his time between the two banks. He was appointed succeed Ralph Mo., in the Caruthersville institution as an economy HEAVY DRINKERS The annual consumption of coffee in the United States about pounds. The consumption per capita is nine pounds per
BRAUCHER NAMES YANKS AND CARDS TO WIN PENNANTS Brave Forecaster Lines Up Major Teams Even To Celler Positions BY BILL BRAUCHER NEA Service Sports Editor American League New York Washington Boston Cleveland Philadelphia Chicago National League St. Louis Chicago New York Pittsburgh Boston Cincinnati Brooklyn Races in both leagues that promise to be the closest in years serm to be on the program as the base. ball stason begins Shifting of playGIS has made the task o! selection the Cardes: experienced in many to have everything needd to win a pennant. Last year. due to 111ness and injury, the pitching bogred down badly Now. with RulfIng in splendid shape. the team appears to be a whiner. I am expetting a great season niso from Washington won a pennant last year Jargely Through the superhaman pitching of General Alvin Crowder. Another season from the General who is getting along 311 years. cardly can be expected. The fact that Clark Grimith has been scopping for a pitcher speaks volnones On the weakness of the Wash- In the National League. the Cardinals begin the race with strength in every department. Last year even though the team led the league in run-making. there was discord under the management of Gabby Street With Frisch in the saddle. and with the best reserves ii club could nsk for, the Cards stould win 100 games. The St. Louis entry will have " distinct edge on the Glants in punch P.tching carried the New Yorkers to a last year. With the lively ball that the league has adopted for 1934. do not regard pliching with the same respeet LOSE had 10 be accorded last The real threat to the Cards SUpremary will be the Cubs. Strengthened materially in the bludgeoning department with the addition 0: Cluck Klein in the outfield. Chica E0 will have as hard R citting crew as there is in the National League. If Gity Bush. Lon Warneke and the rest of the pitching staff can master the lively ball. the Cubs will have Cards. what they need to best the The dark horses In both leagues will be the teams have picked for fourth place-Detroit In the American League. and Pictsburgh in the National. Cochrana's Tigers 100m up on paper as the best young team in the younger circuit. The Mick is counting reaviry on Schoolboy Rowe's arm to round into shape-and If It does. the pitching will be ainply taken care of Goose Goslja itas one more good year in his system. and hell just about make that Tiger outlield of Pete. FOX Gosin and Gerald Walker one of the best wrecking crews in the majors The Pirates, who bozged down last year frightfully for want of a first class hurler. seem to have strengthened the pitching staff materially in the addition of Red Lucas. whom they obtained from the Cincinnati Reds. Lucas. with NOTICE OF SALE Notice Is hereby given that the undersigned as Commissioner, will on the 27th day of February. 1934 by the Chancery Court for the Chickasawba District of Mississippi County Arkansas in cause, numbered 5595. wherein R L. Bradley. Receiver for the First National Bank of Blytheville Arkansas. and A. G. Little. as Trus. Branson and Ethel F. Branson were defendants. on Saturday April 2(th 1034. offer for sal: Rt public auction at the shith dcor of the court house In Biytheville. Arkansas, to the highest bidder. on a credit of three months the following described propcrly which Is situated in the Chickasawba District of Mississippi County. Arkansas, to-wit: Lot 14, Block 2, Jones Addiville. tion to the City of BlytheThe property will be sold subfeet to the lien of the Five Thonsand Dollar ($5,000.00) deed of trust in favor of Union Central Life Insurance Company. Buyer will be required to give a solvent bond and in addition 3 lien will be retained to secure the purchase price. This the 4th day of April. 1934 R. L. GAINES, 5-12,
Junior Students To Enlarge Soft Ball Loop Soon The present series of the junior bigh school soft ball leagues will be finished anti 11 winner from each week. division declared on Friday of ints Beginning Monday of DENI week there will be more extensive organization. There will be four dlvisions instead of two as at pres. ent. These divisions will consist of 3 junior and senior loop for both boys and girls Each of the four divisions will consist of feur trains This reorganization will place each student In the school on team and follow equal competition " NOTICE OF SALE OF REAL ESTATE Notice is hereby given that thte indersigned ns Commissioner. will n obedicuse to decree entered on U:e 27th day of February. 034. by the Chancery Count for he Chicknsawha District of Misassippt County. Arkansas. in cause. Number 5576. wherein A. G.i Little. as Trustee for the First National Bank of Biytheville, Arcansos and R. L. Bradley. Receiver of said bank were Plaintitis and C. S. Lemons. executor of the estate of Addie M. Muson. decensed. W. S. Mason. Paul Victor Mason and Dorothy Jean Mason were Defendants. on Saturday April 28th. 1934, offer for sale it public auction. at the south foor of the court house in Blytheville to the highest bidder on credit of Uirce months the following described property which S situated in the Chickasawba District of Mississippt County, Ar. The East Half (E%) of Lot Eight .81 and all of Lot Nine 01 in Block Five (5) Davis Third Addition to the City of One note dated Jan. 22. 1930 whereby Charles Sanders for value promised to Day C. S. Lemons. Agent for W. S. and Addie Mason at Nov. 15. 1930. 002 thousand dollars with Indate. the balance of the principal of which Is $180.40. One note dated April 26th, 1930. whereby Charles Sunders for value promised to pay to C. S. Lemons. Agent for W S. and Addie Mason at November 5th. 1930 the sum of $171 60 with from Interest date. at cight per cent 1821 Cne note dated Jan. 18. 1930. whireby W. 11. Easley for value premised to pay Charles Sanders 12 months after date thereof the sum of $225.00 with Interest at eight per cent 18%) per annum from date: said note having teen endorsed to the order of C. S. Lemons. Agent by Charles Sanders and in blank by C S. Lemons. agent. the balance of principal due being $17.40 Buyer will be required to give a solvent bond, and in addition a lien will te retained to secure the purchase price. This the 4th day of April, 1934. R. L. GAINES. Commissioner 5-12
BANK RECEIVER TO APPEAL CASE Pushes Effort to Collect $1.400 Bank Stock Assessment. R. L. Hradley, receiver for the Piest National bank, Is perfecting on appeal 10 the state supreme court Trum decision by ChanTel property. formerly owned by Main mal Ninth streets, not subjeet to decree rendered again? MIS. Nelzon on an assessment against steckholders of the defunet The chancellor rendered a persomil decree against Mrs. Nelson tor $1.400 but held that the decree applied only to Mrs. Nelson and not In her sister, Mlss Myrtie Shefley, or to the property, which had been deeded to Mrs. Shelley The court refused the contention of the plaintiff that the property was not the homestead of Mrs. veyed to escape subjection to the had charged that Mrs. Nelson and her former husband, the late Louis ently to California several years ngo, which was denied by MIS. Nelson. C. M. Buck Is counsel for Mrs. attorney tor Mr. Bradley There Is n spot In the Papta Desert of Peru that has 101 had a drop of rain in more than 40