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TWO BANKS SUSPEND OWING TO COLLECTIONS . Special by United Press Wire: Owensboro, Ky., Apr. 24: Because of poor collections the Owensboro Savings Bank and Trust Company and the Davies County Bank and Trust Company are declining to receive any more deposits and have suspended cash payments pending a The Owensboro re-organization. company has deposits of more than $1,000,000 and the Davies County Company has more than $700,000.
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KENTUCKY BANKS SUSPEND. Large Institutions Close Doore Pending Reorganization. Owensboro, Ky., April 24.-The Owensboro Savings Bank and Trust company and the Daviess County Bank and Trust company. are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions. The former has deposits of over $1,000,000, the latter $600,000.
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AN OLD KENTUCKY BANK CLOSES DOORS (By Associated Press.) Owensboro, Ky., Apr. 24.-The Owensboro Savings Bank & Trust Company, one of the oldest banks in Kentucky, and the Davies Countv Bank & Trust Company are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions. The banks are capitalized at $200.000 and have deposits of over a million dollars.
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OWENSBORO BANK Owensboro, Ky., April 24. (Special.)-I. M. Pendley is agreed upon as receiver and the Owensboro Savings Bank and Trust company will be reorganized as the Owensboro Savings company, with $100,000 capital.
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Suspends for Reorganization. Owensboro, Ky., April 24.-The Owensboro Savings Bank and Trust company and the Davies County Bank and Trust company are declining to receive deposits and have suspended cash payments pending a proposed re organization of both institutions. The former has deposits of over. a million and the latter $600,000.
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ASSIGNEE TAKES CHARGE Owensboro, Ky., April 29.-The Davies County Bank and Trust company, which declined deposits and suspended payments several days ago, was today taken in charge by Assignee Henry Cline The bank had a capital of $50,000 and deposits of over $600,000. The assignment followed that of the Owensboro Savings Bank and Trust company, which had a capital of $600,000 and deposits of over $1,000,000.
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BANK MAKES AN ASSIGNMENT Suspension of Payment Followed by Liquidation. Owensboro, Ky., April 29.-The Davies County Bank and Trust company, which declined deposits and suspended cash payments several days ago, last night filed a deed of general assignment. The bank has a capital of $50,000 and deposits of over $600,000. The assignment followed the assignment of the Owensboro Savings Bank and Trust company.
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Kentucky Bank Closed. Owensboro, Ky., April 29.-The Davies County Bank and Trust company, which declined deposits and suspended payments several days ago, was today taken in charge by Assignee Henry Cline. The bank has a capital of $50, 000 and deposits of over $600,000. The assignment followed that of the Owens. boro Savings Bank and Trust company, which had a capital of $600,000 and deposits of over $1,000,000.
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TWO BANKS FAIL AT OWENSBORO Poor Business Caused Them to Close. THEY HOPE TO RESUME SOON Daviess County Deposit Bank and Owensboro Savings Bank the Ones. Pending a series of conferences of the stockholders of the Owensboro Savings Bank and Trust Company and the Daviess County Deposit Bank and Trust Company, both of the institutions have suspended cash payments and are refusing to accept any more deposits. A run was started on the Owensboro Savings Bank several days ago and while that was checked, the officials feared a repetition of the run would bring about a condition tha would be injurious not only to the stockholders but to the depositors as well. The officials of the Daviess County Deposit Bank give poor collections as the cause of their action. Both President Parrish of the Owensboro Savings Bank and President T. S. Anderson of the Daviess County Bank declare that reorganizations will be effected in a few days, and insist their banks will soon be open for business. The Owensboro Savings Bank has a capital stock of $200.000 with deposits according to the last statements of $1,088,838, while the Daviess County Bank has a capital of $50,000 with $600,000 deposits. The former bank is the third oldest financial institution in Owensboro and was organiz» ed in 1871 by T. S. Anderson, now president of the Daviess County Bank. Mr. Parrish, who is a native of Bullim county, took charge of the institution's affairs in 1900, though he has been associated with it since 1884. The officials of both institutions make the claim that the depositors will lose practically nothing. T. A. Pedley was appointed receiver of the Owensboro Savings Bank and Trust company by the circuit court Saturday, in the proceedings against that institution by the commonwealth, on relation of Ben L. Bruner, Secretary of State. Numerous expressions from stockholders and depositors indicate that satisfaction with Mr. Pedley's appointment is general. He has the unqualified confidence of the people of the county, both as to his ability as a banker and as to his integrity. A stiff fight was made by James H. Parrish, president of the bank, to prevent the appointment of Mr. Pedley as receiver and, failing in that a motion was made to have some one else appointed with him as joint receiver. Judge Birkhead, in ruling on the motion, said an objection to two receivers was the fact that the expense would be heavier than with one. "The sale of land," he said "would be a matter for the court to decide. The receiver will consult with the court on all matters of importance." The judge, himself, wrote out both the order and the bond, fixing the amount at $200,000, the largest legal bond ever required in Daviests county. It was signed by Mr. Pedley as principal, and he American Surety Company, by Sweeney Bros., agents, and C. M. Finn, resident autorhey, as surety. Several stockholders of the bank were interviewed Saturday afternoon, and they expressed themselves as being pleased with the appointment of Mr. Tedley. Said one stockholder: "Mr. Peley is the most competent man in Daviess County to have charge of the bank in its present condition. It needs a man
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Forced to Suspend. The Owensboro Savings Bank & Trust Company and the Daviess County Bank & Trust Company are declining deposits and have suspended cash payments pending a proposed reorganization of both institutions. Several days ago a run, due to false rumors, was started on the Owensboro Savings Bank, but this was stopped by the payment of all demands. The Daviess County Bank & Trust Company is capitalized at $50,000 and has deposits of about $600,000.
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Reorganize Two Banks. Owensboro, Ky., Apr. 25.-The Owensboro Savings Bank and Trust Company, one of the oldest institutions in Kentucky, and the Daviess County Bank and Trust Company are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions.
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The Owensboro Savings Bank and Trust Company and the Daviess County Bank and Trust Company, both of Owensboro, Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions.
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The Davis County bank of Owensboro, Ky., with deposits of $600,000, assigned, Henry Cline was named by court as assignee. The assignment followed the assignment of the Owensboro Savings Bank and Trust Company, with deposits of over $7,000,000.
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The Davis County bank of Owensboro, Ky., with deposits of $600,000, assigned. Henry Cline was named by court as assignee. The assignment followed the assignment of the Owensboro Savings Bank and Trust Company, with deposits of over $7,000,000.
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The Owensboro Savings Bank and Trust Company and the Daviess County Bank and Trust Company, both of Owensbore, Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions.
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The Owensboro Savings Bank and Trust Company and the Daviess County Bank and Trust Company, both of Owensboro, Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institut one,
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It CRIMINAL PROSEn is CUTION BEGUN. g S Parrish and Anderson Arrese ted at Owensboro. d a Revelations of Receivers Cause d S Issue of Warrants and are Held under $15,000 Bonds. 11 d Owensboro, Ky., May' 18.-James H. Parrish. president of the Owensboro Saving Bank and Trust Company and T.S. Anderson. president of the Daviess County Bank and Trust Company, were both arrested yesterday as a result of the disclosures following the recent failures of the two institutions. Both men waived examination and were held under bonds of $15,000 each to await the action of the grand jury. Thirty-one years ago James H. Parrish began work as a clerk in the bank owned at that time by T. S. Anderson. He learned the banking business from Mr. Anderson. His advancement was rapid. In 1884 he purchased the bank from Mr. Anderson. The latter moved to Detroit, Mich., and opened a bank. The rise of James H. Parrish in the financial world was phenominal. A few months ago his bank had a capital stock of $200,000 and deposits of over $1,000,000. Mr. Anderson quit the banking business in Detroit a few years ago and returned to Owensboro and opened another bank. He. too, a few weeks ago, had deposits of $640,000. To-night, James H. Parrish,president and largest stockholder of the Owensboro Savings Bank and Trust Company, and T. S. Anderson,president of the Daviess County Bank and Trust Company, the teacher and the pupil, are both under bond of $15,000 to appear before the August Daviess county grand jury. Anderson was arrested on two warrants. One charges him with fraudulently converting to his own use $20,000 of the funds of the bank. The other warrant charges him with receiving deposits when he knew his bank to be insolvent. Párrish was also arrested on two warrants, both charging him with receiving deposits when he knew his bank to be insolvent. The arrest of Parrish and Anderson did not come as a surprise to the citizens of Owensboro. However, it created one of the most profound sensations in the history of the county. On April 24, a motion was made for a receiver for the savings bank. T. A.
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The Owensboro Savings Bank and Trist Company and the Daviess County Bank and Trust Company, both of Owensbore. Ky., are declining to receive deposits and have suspended cash payments pending a proposed reorganization of both institutions.
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The Davis County bank of Owensboro, Ky., with deposits of $600,000, assigned. Henry Cline was named by court as assignee. The assignment followed the assignment of the Owensboro Savings Bank and Trust Company, with deposits of over $7,000,000.
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LITTLE LEFT FOR CREDITORS FROM OWENSBORO BANK Owensboro, Ky., June 2.-(Special.)-T. A. Pedley, receiver of the Owensboro Savings Bank and Trust company filed a report saying the general creditors could not hope to realize more than 15 cents on the dollar. Many assets are valueless and few worth par.
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In a statement of the condition of the defunct Owensboro Savings Bank and Trust Company, T. A. Pedley, the receiver, declares that the assets are not sufficient to pay over 15 per cent. after the claims of a fiduciary character are paid.
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FUNDS TO MAKE SMALL SETTLEMENTS T. A. Pedley, receiver of the defunct Owensboro Savings Bank and Trust Company, reports that he has funds on hand to pay the unsecured depositors two per cent. He said he hoped to pay the depositors ten per cent at final settlement.