1355301583 135530
national
5b94f48b7e9b2fafFed/other loan, Full suspension
Other: Bank was placed in receivership and liquidated; receiver pursued lawsuits and distributed dividends (RFC funds were used in liquidation).
Click image to open full size in new tab
Two Mississippi Banks Close. GULFPORT, Miss.. November 28 (A). -Two Mississippi banks yesterday failed to open for business, due, officials said, to uneasiness over deposits and withdrawals. The suspended banks were the First National at Gulfport, capitalized at $400,000, and the Exchange Bank at Canton, capitalized at $110,000.
Ramsay Submits Timber Estimate on Day Tract The Harrison County Board Supervisors morning, having recessed Saturday today. Among other matters coming before the board the matter receiving estitimber owned by Ingram Day Lumber Company sections and which state tax lector claims taxes the state timber these two 2,000, feet and the estimate the Ingram Day Company representative 125,000. There such disparity estimates the board employed Ramsay former member the board estimate the timber the lands. The estihanded to the board this morning by Mr. Ramsey placed the timber 113,000 The board considering funds bonds tied in the closed First National Bank in Gulfport.
First National Bank of Gulfport Claims Deeds Executed for Purpose of Defrauding. Charges of transfers of Harrison county real estate "for the purpose of defrauding" the First National Bank in Gulfport of a principal sum of $8,974 were included in a complaint filed in federal district court at Biloxi yesterday by Ford, White and Morse, attorneys for A. F. Rawlings, receiver for the bank, against J. H. Wright, former Gulfport lumber dealer, Mrs. Wright, and Mrs. Birdie J. Woodward of Richmond, Va.
HEAVY DOCKET DISPOSED OF National Bank Receiver GrantJudgment Against W. Seafor $40,066.25. heavy cases, for the part formal and today Chancellor Russell brought the first week scheduled two weeks' May chancery court. Argument torneys and was heard during Charles Brown, Gulfport lawyer, named court Redding Esther Redding involving part which the said to be heirs. protest any sort defense from Seaman, series notes the First National Bank Gulfport. Rawlings receiver the First National Bank judgment in total sum $40,066.25 against Seaman the provision that certain lands. under deed trust loans, should satisfy indebtedness unless The judgment cluded principal interest notes, which themtotaled around $29,000. hearing the children Mrs. estranged Fred mother was granted their
O. W. Baldwin, owner of the Baldwin Funeral Home, at 722 Manship, and a funeral director widely known throughout this section, is today announcing the organization of the Baldwin Funeral Benefit association. This is a local company formed to serve local people, and will underwrite burial insurance designed for those who find it burdensome to carry life insurance on the entire family. "The approximately three years I have served as funeral director in Jackson, has revealed to me the very startling fact that only a small percentage of families have made provisions for such emergencies as are provided for by this association," said Mr. Baldwin, "and for sometime I have seen the growing need for burial insurance for the whole family, and at rates that everyone could afford." This new venture is characteristic of the progressive spirit that has made O. W. Baldwin not only an outstanding figure in his chosen profession, but a valuable asset to this city and state, for he is capable of foreseeing a need, and has the initiative to provide for it. The Baldwin Funeral Benefit association has qualified under the laws of the state, as a burial association, and the necessary bond has been filed with the state treasurer. GULFPORT BANK MAY NOT REOPEN Comptroller Refuses to Extend Time for Reviving Institution GULFPORT, July 16 (AP)—J. W. Pole, comptroller of the currency, today denied a request for a 15-day extension of time in which to permit a depositors' committee of the failed First National Bank here to submit plans for a new bank. In a telegram received here this morning, Pole stated that in the opinion of his office, the interests of creditors of the suspended bank require prompt payment of the largest dividend possible. Doubt of success of the new plan, owing to opposition and length of time required, do not warrant a further extension, the telegram said, and the receiver of the bank will be instructed to act accordingly. The First National Bank suspended operation last November. Plans by stockholders of the closed bank to organize a new bank were abandoned Thursday night when they failed to obtain the required amount of signatures to a plan which had been approved by the comptroller of currency. G. V. Fesperman, 80, of Mooresville, N. C., wears a pair of pants purchased in 1874.
BANK RECEIVERS FILE NOTE SUITS Debt Demands Instigated by Jackson and Gulfport Officers Suits aimed at clearing up affairs of the First National bank of Jackson, and the First National Bank of Gulfport, were filed yesterday, in Jackson division federal court by receivers for the two closed banks. J. R. Stevens, receiver for the Jackson bank, filed suit for collection of $4,363.32 from the Mississippi Gulfport bank, W. and Union county, for on a note, W. H. Batt
HANCOCK BANK BRANCH IN Negotiations Are Opened To Secure Banking Facilities For Coast Town GULFPORT. Gulfport will have bank in the mediate future negotiations opened by the Hancock County Bank Louis are successfully completed was announced today by Leo W. Seal, president the bank. A lease the building formerly occupied by the defunct First National Bank of Gulfport has been prepared and sent Washington for the approval of the comptroller of currency. the lease is approved, steps will be taken at once for the opening of the bank, Seal said. The Hanceek county bank now operates banks at Bay St Louis Pass Christian and Long Beach. Gulfport has been without bank since the National bank suspended operations last November.
Notices Mailed Out Today, Receiver Rawlings Announces Rawlings, receiver First Bank today that dividend will ready for delivery Thursday October This paid funds by receiver the ordinary liquidation, supplemented by from Reconstruction Finance This cured retired, until further made the receiver. lieved that the the the will receive furthdividend the made by the receiver will dividend 4,256 different today placing postoffice each Included tice dividend check, which have signed before the delivered. ceiver fact are numbered and the bank opens business he will be five and will the checks the creditors will locate their number and the the receiver's tificate has been delivered. absolutely that certificate be returned the bank, in der the nounced. not received receiver's will delivered to the time dividend check in the notice receipt for the which receipt likewise will The funds the Reconstruction Finance Corporation set aside for the First National Bank in Gulfport are for loan this early funds leased by this trust should terial the community in these difficult times.
Kaplan Bank Kaplan, Kaplan State Bank $14,693. Lake Providence, Lake Providence Bank $21,000. Napoleonville, Citizens Bank and Trust Company $20,000. Natchitoches, Exchange Bank of Natchitoches $35,000. Natchitoches, Merchants and Farmers Bank (repaid in full) $12,500. New Orleans, Interstate Trust and Banking Company $178,275.50. Paincourtville, Bank of Paincourtville $15,450. Ponchatoula, Ponchatoula Bank and Trust Company $40,000. Saint Joseph, Bank of St. Joseph and Trust Company $45,000. St. Martinville, Bank of St. Martinville $11,000. Springhill, Commercial Bank and Trust Company $20,000. Mississippi: Biloxi, Peoples Bank $20,000. Booneville, Bank of Booneville, The, $84,500. Clinton, Bank of Clinton $13,315.40. Greenwood, Greenwood Savings Bank (received) $140,000. Gulfport, First National Bank in Gulfport (receiver) $280,000. Kosciusko, Guaranty Bank and
STONE COUNTY ASKED TO PAY DEBT TO BANK Receiver Files Petition For Redemption of $9,725 In Warrants Held By Closed Gulfport Bank. Seeking compel the payment Stone county of rants certificates issued school fund that county 1929 and mandamus petition filed Friday the federal court Biloxi receiver the First National Bank in Gulfliquidation. The of the Stone County Board of Supervisors, whom petitioner claims have refused either the other petition filed them 1932, asking for the payment of these warrants certificates, named defendants Floyd MeHenry, clerk, named defendant by reason his being the board supervisors. the for the mandamus that funds the the total ing $5,520. of pay certificates totaling $4,205. ceiver the failed bank, them due course busiclaims were issued an mandatory order directing the payment the board the deemed and sought and the alternative that county does the funds hand this time pay same, asks order the recting tax county sufficient to pay the obligation. county school fund involved issued August September of 1929 by the chancery said. and the pay tificates in January of 1930 by the county superintendent education and purchased the National Bank They sent the Citizens Bank county depository Stone county prior to its in May. but back to the bank in Gulfport. of the Stone County Board named defendR. Smith. Vernon Brown, Lott. Breland and Dr. Switzer.
New Orleans, March 17.—(AP)—Petition of receivers for the Union Indemnity Company, asking authority to sign a compromise agreement with the First National Bank of Gulfport, Miss., also in receivership, has been filed with Judge Michel Provosty in civil district court. The petition said the agreement had been reached with A. F. Rawlings, the bank's receiver, subject to approval by the civil court, comptroller of the currency and the International Re-Insurance Corporation. During February, 1931, the Union Indemnity and the New York Indemnity Company, executed bonds as security for the Gulfport bank in favor of Harrison county for about $435,000 as security for the county's deposits in the bank. Since receivership of the bank, attempt have been made to reach a compromise.
RAWLINGS, BANK RECEIVER FILES SUIT IN ASSUMPSIT Invoking the powers of the court receiver for the First National Bank in Gulfport. has filed assumpsit involving $12,000 against the R. Inglis Company of Long Beach, Inglis, R. M. Inglis and Mrs. Catherine Inglis Hendrickson
SUIT FILED TO MANDAMUS TOWN TO COLLECT TAX (Associated Press.) NEW ORLEANS, Sept. petition for mandamus to compel the town of Covington, La., to levy and collect tax to satisfy an alleged obligation of $20,339.81 to the First National at Gulfport, Miss., was filed in federal district court here yesterday by A. F. Rawlings. receiver for the bank. The petition alleged that the fed. eral court here on April 3, 1926, awarded $14,840.80 to Alonzo B. Hayden, Inc., contracting firm, which had installed sewerage improvements in Covington. This judg ment was later surrendered to the bank, the petition asserts, and the receiver is now seeking to recover that sum, plus interest. alleged that the town had issued bonds ostensibly to cover the cost of the work, but that the proceeds had been diverted other uses. Officials of the town are also named in the action.
DISPOSSESS SOUGHT IN FEDERAL COURT National Bank Receiver Files Petition Against Copiah Farmer Marking the first time in recent months that a national bank receiver has sought to dispossess creditors, A. F. Rawlings, receiver for the First National Bank of Gulfport, filed petition for a writ of replevin in Jackson division federal court against J. T. Lingle et al of Copiah county, seeking possession of farm equipment, a residence and four acres of land. The suit contends that the receiver acquired title to the property as a result of a foreclosure sale on August 12, 1932, and contends that since that time the holders have refused to surrender the property. The writ of replevin is sought for two trucks and eight head of work stock, while the petition for possession is directed against a residence and four acres of land, said to be the residence of J. T. Lingle, near Crystal Springs. In addition to J. T. Lingle, Mrs. C. S. Lingle, V. O. Lingle and Mrs. LaDella Lingle are named co-defendants in the suit.