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NAMED ATTORNEY FOR BANK Fayetteville, August Herring, law. been appointed attorney the receiver the National Bank was nounced today by Charles H. Draper receiver for the bank. The appointof Mr. Herring was made the receiver approved comptroller the currency Mr. Herring is member of the law firm Oates and Herring and specialist in commercial
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Herring Attorney For Bank Receiver At Fayetteville (Special Daily News) Fayetteville, Aug. 31.-R. W. Her. Fayetteville has been appointed attorney for the receiver the National Bank of Fayetteville, was announced today by Charles H. Draper, receiver for the bank, which closed Its doors August The appointment of Mr Herring made by the receiver and approved the comptroller the in Washington. Mr. is member of the law firm of Oates Herring and speclalist The first bale of 1927 cotton old here today by W:
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SUIT FOLLOWS CRASH OF BANK Cumberland County Treasurer Named Defendant in Equity Action. From The Observer Raleigh Bureau RALEIGH, Oct. 8.-The recent failure of the National Bank of Fayetteville was echoed in United States district court here today with the filing of a suit in equity by Charles H. Draper, receiver for the bank, against David Gaster. treasurer of Cumberland county. The plantiff is asking that an at. tempted transfer of notes and assets of the bank by the county treasurer be declared null and void and that Mr. Gaster pay into the bank funds in amount of $9,547.28 The bank receiver alleges that the county treasurer deposited $1.on July 3, 1927, without asking for security, that he later drew out part of the money and that he also took notes to collect. most of which he later returned The notes amounted to $466 It is alleged of which amount the treasurer turned back $457 The receiver asks that the difference, representing the amount the notes not turned back be paid over to the bank.
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BANK RECEIVER SUES COUNTY TREASURER Action Growing Out of Fayetteville Filed in Federal Court. Raleigh, Oct. suit equity local United States today Charles Draper, National against Gaster, treasurer Cumberland matter volving notes and in the Treasurer Gaster. Draper that Treasurer the National asking any out part the that Gaster collect and later returned of notes, alleged, turned collected Draper be turned back to the receiver. Len Made Director. Luke Nashville publisher, class director of Atlanta federal bank in special election held by member banks group three, was nounced today by Oscar chairman the Fire at bales piled high truck train struck light here tonight. did $1,500 damThe cotton en route to Nor[folk,
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DEFUNCT BANK BUILDING SOLD Cumberland Savings and Trust Company Pays $210,000 for 10-Story Structure. Nov. and Trust pany of this today bank building of the defunct National Bank Fayette for the local bank battered the the Page before Bond, in Cumberland The hearing been from which time the less than HEARING When the hearing was resumed withdrew his Jection and the court was about to building to Page company at its bid of attorney for bank raised his client's bid from 000 to $211 The sale made on petition of H. Draper, receiver for the Na tional which was presented by Herring attorney for the receiver The petition was originally based the Cumberland and Trust companys' bid of by the Page company hearing Robert was today and his his Mr that the or deposiwith him were in position to buy the building as far but that they had been criticized by other de positors seemed think they SPOKE feelingly on the subject and asked the judge. the of the building might be, have them the substitute representing cold and the men who wrecked his decision the Bond the of the status was beyond his Mr. Page asked after the Page intended to bank in Just as soon AR quarters can be can't bank in
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JUDGMENT OBTAINED BY BANK RECEIVER Fayetteville, March first judgment obtained by the receiver the National Bank of Fayeteville against debtor to the bank was secured in the Superior Court here when Judge W. Devin issued court order directing the Duplin Construction Company, pay the receiver $5,000 and less credit of $550.27. representing the sum the construction company had deposit when the bank was closed This credit is to Auguts bear interest from August and the interest on the amount of the comnote runs from March 1927. The note was given the bank on September 1926, by E. W. Jordan. president of the company, who to the judgment. The costs the action are to be paid by the defendants.
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Fayetteville Bank Receiver Fails To Recover On Notes (Special to Delly News) Fayetteville, May receiver of the National Bank of Fayetteville lost the court here rendered verdict in favor of Kistler and Rankin, firm of cotton brokers of this city in suit brought by the receiver for the recovery of $6,187 represented by signed the firm and held by the bank when closed on 8. The defendents' victory was to the fact that the could not show that they had profited by the = was as contended that the drafts were signed the defendants matter of by commodation to certain officers of the that money or other bank and valuable was received of the members of the firm. by either Fliers Forced Down. May of the first purFred of Michsuit to land Miller forced late today because of low field pressure. Major Coleman and crew of men were en route from Fort to Columbus, in DougBragg las C-1 army transport plane.
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BANK RECEIVER SUES FOR NOTES DUE 1927 Demands Payment of Three Large Notes Due To National Bank of Fayetteville In an effort to ollect notes which, alleges came due after the failure of the bank on August 8, 1927, A. D. Burrows, receiver for the defunct National Bank of Fayetteville, yesterday filed with the clerk of United States District Court suits against A. H. Slocomb, Mrs. Kate Utley, John Troy Smith, Ocia M. Smith, E. E. Smith, all of Cumberland county, and I.L. Vincon, of Sampson. The first two of the three notes concerned, according to the complaint, were signed by Mr. Slocomb and Mrs. Utley. One was for $2,000, due to be paid on September 9, 1927, and the other for $1,500, due to be paid on September P. 1927, according to the complaint. The third note, stated the complaint, was signed by John Troy and Ocia M. Smith and endorsed by I. L. Vinson and E. E. Smith. It is for $2,120 and was due on August 30, 1927.
TO CLOSE AFFAIRS OF FAYETTEVILLE BANK Receiver Burrowes Hopes To Wind Up Affairs of the Na. tional in 60 Days Fayetteville, Dec. 24.-A. D. Bur rowes, receiver of the National Bank of Fayetteville, hopes to be able to close the affairs of that institution within the next 60 days, he stated today. Mr. Burrowes has been ap pointed receiver of the Commercial National Bank of Raleigh and will probably transfer his headquarters to Raleigh. He also has charge of the liquidation of national banks in Dunn and Laurinburg and recently completed receivership of a bank in Benson, paying the depositors 50 per cent. The Laurinburg institution has already paid 55 per cent, though it will be some time before its affairs are wound up. The receivership of the Dunn bank will be closed early in the new year. Depositors of the local bank have received 25 per cent. At the third sale of asse J. S. Butler, of St. Pauls. made the high bid of $1,850 for notes and accounts receivable having face value of $203,000. The sale must be confirmed by the comptroller of the currency. Mr. Burrowes expects to be able to distribute the final dividend within two months' time.
Senator And Bank To Handle Estate Sept. county clerk court, today confirmed appointment of State Senator Hayden Clement and the Wachova Bank Trust the estate Francis Frercks succeedMcCorkle who admitted $35,000 shortage in the estate. Clement posted bond McCubbins said the bank would "handle the maining from the estate. The selected the vestry Luke's Episcopal church which with other organizations under the QUITS RECEIVER JOB WASHINGTON, Sept. officials said today McCorkle had submitted national bank at Fayetteville, be appointvery McCorkle resignation would be accepted, was said, date the new appointment.