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ASSETS TIED UP IN PHOSPHATE STOCK Suspended Florida Bank May Reopen for Business. JACKSONVILLE, Fla., Aug. 11.-The St. Petersburg State Bank, of St. Petersburg, southern Florida, which suspended on Saturday night, has a large amount of its assets tied up in phosphate stock. The deposits approximate $40,000. T. L. Jenness is president and W. W. Wise, cashier. Col. John Trice, president of the Citizens Bank and Trust Company, of Tampa, may purchase the bank's assets and reopen soon.
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FLORIDASTATE BANK HAS CLOSED ITS DOORS ST. PETERSBURG FINANCIAL IN STITUTION FAILS WITH $40, 000 LIABILITES AND ONLY LAND ASSETS. TAMPA, Fla., Aug. 12.-St. Petersburg is today in a state of financial panic over the suspension of payment by the St. Petersburg State bank. When the bank closed business Saturday afternoon, nothing untoward had been shown about the closing, but after night fall it became known that the bank was not to open its doors again and had failed. A receiver has been asked for and the depositors, many of whom have their all in the bank, are clamoring in the usual manner for their money. The bank was officered by L. Y. Jenness, president; W. L. Ainslie, vice president, and A. Macleod, cashier. The officers state that the bank's liabilities are $40,000 and that the only practical assets they have is in phosphate lands in several adjoining counties. These lands they value at $50,000 and say that only a few weeks ago they were offered $40,000 for their holdings. They claim that the assets, with careful management, will pay up the liabilities almost in full. The suspension of business by the bank has caused great agitation among the depositors, many of whom declare that they must and will have their money, but it is quite likely that they must wait If they get anything at all. The officers say they have done everything in their power to tide the bank over its difficulties, but found that it was too much of a load to carry.
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Camp Buys The Globe Phosphate Lands. Judge J. B. Wall yesterday heard in chancery the arguments in the matter of Shackleford & Pettigill's application for an order to comp 1 John Trice as receiver to re-sell the lands of the Globe Phosphate Co., for cash and to pay therefrom their fee of $14,500 in cash. Judge Wall intimated that he would deny the applica. tion, but that be would order Receiver Trice upon the sale of the lands to pay in cash to Shackleford & Pettingill the sum of $10,000 and to give them two notes for the remainder to be paid as they came due. The order has not yet been made, but it will probably be done during the day. What the applicants wished was to have Receiver Trice ordered to close negotiations with Mr. Camp, the intending purchaser, and to have the master in chancery re-sell the lands of the Globe Phosphate company for cash enough to pay the attorney's fees. The order of the court allows Mr. Trice to go on and complete this sale to Mr. Camp and when that is done to pay to Shackleford & Pettingill $10.000 in cash and to give them notes upon Mr. Camp for the remainder. Mr. Trice has already on hand as receiver about $7,000 and will receive a cash payment of $6,000 at the sale, 80 be will have no trouble in do. ing this. Mr. Trice has filed the required in. ventory of his transic tions as receiver and his answer to the bill of complaint, but no further action has been taken. The sale of the Globe Phosphote lands to Mr. Camp is for $35,000, and by the decision Mr. Trice will be enabled to prevent a sacrifice of it. He was not willing unless ordered by the court either to re-sell the land or pay any part of the assets of the St. Petersburg bank not arising from the sale of it to the attorneys.-Tampa Times.
TO BUY with Box Times In the Colonial with terms. Insurance LID 9th sleeping fruit trees. 354 BELIEVE rooms: HI School district balance -MURPHY Central NORTHERN OWNER HOME SECTION PARSLEY INC. Realtors Ave Phone 5710 Central FOR SALE Shore real gain. Terms Inquire 226 BIG room with two extra Paying Fine A REAL GOOD house million dollar high school faces and treme and exCOLBATH No. 4th on Est., 526 Central (arcade): EXTRA FINE Just off this beautiful has hollow living tile and dining breakfast Murphy lavatory, closet off built large two glassed in sleeping and nice tile extra large full with trees and sold the key Can be by pointment FOLEY Inc. Realtors 1st North Phone ALL THE tickets are all good four the time the the And Times and for FOR 10-room house, partly and Terms. W. B. James, 2130 Tangerine NORTH SIDE 8-ROOM HOME Best value on the North Side SOUTH SIDE -story house Wide and Jannett John FORECLOSU OF LIENS appearing by to the bill filed the Goodall and are nonState of being resident further states that not know part address place and by and inquiry has unable more place are the one of upon binding upon that required the bill of filed before 2nd the allegations said bill will be as by said further ordered that this order published the burg in County and 22nd D. This September (SEAL) By Deputy Hardee Martin ORDER FOR PUBLICATION CIRCUIT STATE OF IN JUDICIAL CIR. CUIT. COUNTY OF VENDORS' LIEN Richard and Emma) joined by her husband) Richard Vs. George Grimm et al, It appearing by affidavit appended to bill that the place of above the the defendants Roy and his wife, If are your affiant that defendants George Hazel of than of Florida, and are residents of the of the particular Grimm address the defendants George and Hazel 1101 Millary City of being of State of Ohio, and that after made diligent search and affiant has ascertain the address and place or address the said defendants Mushrush married, and Mushrush his either of that they are each the that age there no in the State of Florida whom be binding upon said resi that said dents be and they are hereby required to bill filed said or the 5th October D. the allegations said be taken as by said defurther ordered that this order be published once week for in the Petersburg Times published in County This August 26th D. (SEAL) Clerk Deputy Clerk. LEGAL NOTICE IN THE CIRCUIT COURT THE SIXTH JUDICIAL CIRCUIT FLORIDA, AND FOR PINEL. LAS COUNTY. Chancery No. 13,069. Hugh A. Welsh and Anna his Fred Smith and Ella Smith, wife, R. Parker and Janet Withers Parker, his Charles H. Clark and Ella Clark, his wife, Horace Withers (if married) his John H. Withers and (if married) Withers, his wife ORDER OF PUBLICATION It affidavit the appearing Horace H. above cause Withers his wife, John Withers and married) his wife, residents state other than of that of residence after search the Virginia, pearing that the said each over the ages and is State of service of cess upon bind the said IT IS ORDERED That the Defendants his ers John Withers and marthey hereby required appear on the 2nd day A. Bill plaint this for the in East 10 of Sout 100 feet and South fee all in Block Revised Map of the City to the map or plat of the Circuit Court of the of said Bill of Complaint will be taken as IT RTHER ORDERED That this Order be published for four weeks in the St. said Florida. Dated this the 19th day of SeptemD. 1931. (SEAL) By Deputy Clerk. Bussey Mann Barton, IN THE CIRCUIT COURT OF THE SIXTH JUDICIA FLORIDA AND FOR PINEL LAS CHANCERY NO. 13,376. ORDER Building Robert O. Brubaker. Single, It appearing by affidavit entitled Robert resident or than the of and of residence defendant unknown after gent that defendant over the age of that there no one within the State of THEREFORE the Robert on the day to the filed for the of mortgage on Lot 124, the thereof file and the of the Circuit Bill Complaint taken said IT THRE ORDERED That this Order be for in the Times newspaper lished in Pinellas County, Dated this the 19th day of SeptemA. (SEAL)/ By Helms, Deputy Clerk Bussey. Mann & Barton, Solicitors for Complainant NOTICE OF SALE The Master Chancery the authority vested him by that fina decree day of D. Chancery case the Court of the State of Florida in for M. as Receiver of & Trust Company Petersburg. and and Alta D. his defendon 5th day A'. the two M. at the front the Court offer for sale and sell public the high est the real and being Pinellas Florida Lot (32) of Grandview Park to the map or plat thereof and of the office the Clerk the Circuit Plat book page the public records of county Said sale made to satisfy final decree. BYRON M. SKELTON. Chancery ARTHUR THOMPSON, MERLE Solicitors for complainant. UNITED STATES DISTRICT COURT IN MATTER BANKRUPT OF ST. PE. BANKRUPT SALE. All of the stock furniture fixtures the will be sold to the highest bidder for cash, subject confirmat the court, continuation of the first creditors to be held meeting Hon. H. in bank- Bldg. First National Bank on September 1931 : M. Stock ready $2,922.11 And furniture. and Assets equipment with appraised inventory will be for inspection at First No. Petersburg. on M. 28, 1931 from to FRANK E. COOPER. Trustee in 206 Madison Tampa, Florida.