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BUTLER BANKING CO. SUSPENDS PAYMENTS BUTLER, August 1.-The Butler Banking company has been temporarily suspended by its board of directors. Advances on peaches is the alleged cause. 0 G. McCants, the cashier, is absent until an auditor takes charge of the bank books. It 15 admitted that there is a shortage but it will be made good by McGrants or his friend. Depositors and stockhold. ers are protected, it was said.
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PEACH LOSSES CAUSE BUTLER BANK SUSPENSION BUTLER, Ga., July 31.—Operation of the Butler Banking Company here, temporarily was suspended today by its board of directors. Unconfirmed reports said that the suspension was due to loans on the peach crop. An auditor has been summoned to take charge of the bank's books. Depositors and stockholders are said by officials of the bank to be fully protected. O. G. McCarts is the cashier.
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CASHIER RETURNS; ADMITS SHORTAGE Butler, Ga., Banker Said To Be Near Prostration COLUMBUS, Ga., Aug. 2.-0. G. McCants, cashier of the Butler Banking company, at Butler, near here, who disappeared last week on the day business of the institution was suspended, returned voluntarily to "his I home today and admitted misappropriation bank funds, according to a special dispatch to the Columbus Ledger tonight from Butler. The cashier is reported to be in a serious condition from nervous prostration and is under the care of a physician. No criminal proceedings have been instituted, and it is reported, says the dispatch, that relatives and friends of McCants will make good the alleged shortage in his accounts, the amount of which has not been disclosed. The bank's affairs are in the hands of the state officials. The, cashier's brother, J. J. McCants, tax collector of Taylor county, died from what authorities said were self-inflicted wounds July 10, after an alleged shortage of $14,000 had been discovered in his accounts.
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MISSING BANK CASHIER RETURNS VOLUNTARILY Reported to Have Admitted Misappropriating Funds of Closed Institution. By the Associated Press. COLUMBUS, Ga., August 2.-0. G. McCants, cashier of the Butler Banking Company, at Butler, near here, who disappeared last week on the day business of the institution was suspended, returned voluntarily to his home today and admitted misappropriating bank funds, according to a special dispatch to the Columbus Ledger tonight from Butler. The cashier is reported to be in a serious condition from nervous prostration and is under the care of a physician. No criminal proceedings have been instituted. and it is reported, says the disptach, that relatives and friends of McCants will make good the alleged shortage in his accounts, the amount of which has not been disclosed. The bank's affairs are in the hands of State officials. The cashier's brother, J. J. McCants, tax collector of Taylor County, died from what authorities said were self-inflicted wounds July 10 after alleged shortage of $14,000 had been discovered in his accounts.
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$12,000 GONE AUDIT SHOWS O. G. McCants Voluntarily Returns to Face Shortage Friday Night. GOES UNDER CARE OF A PHYSICIAN Late Tax Collector, Brother of Cashier, Who Took Own Life, Was Short $14,000. Butler, Ga., Aug. 2.—Special.—Voluntarily returning to Butler Friday night, O. G. McCants, cashier of the Butler Banking Co., admitting misappropriating funds of the institution, which an incomplete audit has revealed at $12,000, it became known here today. McCants voluntarily returned to Butler from Birmingham, Ala., where he asserts he has been living since leaving here the first of the week. The bank suspended business when McCants left the city. The early rumors, the source of which is still unknown, stated that the bank had closed on account of some "bad" peach paper. No announcement was made at the time of the closing that there had been any irregularities in the bank's business. Immediately upon his arrival here McCants went under the care of a physician being in a rather serious condition from nervous prostration. No legal action has been taken in the case because of reports that the relatives and friends of the alleged absconding cashier would make the shortage good. His condition also makes the serving papers at this particular time deemed inadvisable. The affairs of the Butler Banking company are now in the hands of the state superintendent of banks for adjustment. J. J. McCants, former tax collector for Taylor county, who died of self inflicted wounds on July 10 last, the audit of whose books revealed a shortage of approximately $14,000 was a brother of the cashier who has voluntarily returned and admitted taking the large sum from the bank. It is the consensus of opinion in Butler today that the shortage of J. J. McCants as tax collector and O. G. McCants, cashier, are closely allied, one with the other and the result of speculations covering a period of several months. Butler was shocked when the tax collector committed suicide and even more so with the revelations made today. The McCants brothers were very popular citizens and well respected in the whole of Taylor county. What action will be taken against the cashier remains uncertain.
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O. G. M'CANTS, MISSING CASHIER, AT BUTLER BUTLER, August 4.-0. G. MeCants, missing cashier of the Butler Banking Company, has voluntarily returned from Birmingham, Ala., where to claims he have been since leaving here the first of the week, following which the bank was forced to suspend business, temporarily at least, due to a shortage of the bank's funds, which the cashier is alleged to have admitted he misappropriated. McCants is under the care of physicians on account of nervous postration. It is reported that an incomplete audit of the books of the ban shows a shortage of $12,000. This sum may be increased or diminished upon final audit. It is said that the relatives and friends of McCants will make the shortage, and as yet no proceedings against him have been taken.