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DECATUR BANK CLOSED Decatur State Savings Bank Closed Last Week by State Examiners. Francis Varga is Receiver. The Decatur State Savings Bank Decatur was closed by the state at banking department last Wednesday evening. Two state bank examiners had been going over the books and affairs of the bank for several days, and were not satisfied with some of the notes carried by the bank as a part of their resources, and on Wednesday they notified the directors that they must replace $50,000 of the notes with cash or the bank would not be permitted to open Thursday morning, and the directors were unable to arrange for this amount of cash. Friday on the application of Mrs. Nancy Bedell, a stockholder in the bank, Judge Evans appointed Francis Varga of Leon as receiver of the bank to wind up the business, and Mr. Varga gave a bond for $100,000, and has taken charge of the bank, which is now open for the receipt of money from persons who have notes in the bank, but of course no money is being paid out. Attorneys and interested parties that in all probability the depositors say in the bank will receive their money in full as soon as the business can be wound up, but the stockholders will probably be called upon to stand a loss, The officers of the bank were W. H. Lloyd, president; Joseph Han ton, vice president; J. C. Cozad, cashier; M. E. Boatman, assistant cashier. The bank had a capital stock of $25,000, divided into 250 shares of $100 each, the following being a list of the stockholders and the number of shares owned by each: J. C. Cozad 104, Joseph Hamilton 20, M. J. Powers 31, L. T. Lee 15, F. J. Euritt 15. George Lloyd 10, Nancy Bedell 10, A. T. Weldon 10, Geo. M. Hamilton 10, W. H. Lloyd 7, Ivo Welsh 5, F. W. Euritt 5, A. Euritt 3, C. W. Hoffman 2, L. F. Euritt 2, Winifred Hamilton 1. The last statement of the condition of the bank published at the close of business on March 4th showed total liabilities including capital stock of $217,724.44, with assets to balance. Receiver Varga has been going over the books and notes, and states he finds the books correct so far as known, and the only serious question is to realize on some of the At the notes held by the bank. time the bank closed they had in round numbers $17,000 in cash in the bank and on deposit with other banks, $18,000 worth of Liberty bonds, the bank building and fixtures valued at about $5,000, and bills receivable of about $150,000, making the total assets about $190,000, the liabilities being the same, including the capital stock of $25,000, time deposits of $92,000. and demand deposits of $43,000, and $30,000 bills payable. Of course it is impossible to tell what the shrinkage of the notes owned by the bank will be, but the receiver at this time thinks the amount will probably not exceed $30,000 Mr. Cozad, the cashier, is reported to be in financial difficulty with his personal business not connected with the bank, but nothing definite in regard to this can be learned at this time. The closing of the bank has not caused very much excitement, and friends of Mr. Cozad are standing loyally by him, and hope to get everything straightened out in the near future. Mr. Cozad has been cashier of the bank since its organization about twelve years ago. The closing of this bank has not affected any other bank in Decatur county, although they were prepared with funds to meet any calls made upon them, as they knew of the trouble in the affairs of the bank at Decatur.
