F. E. POWELL APPOINTED ETOWAH BANK RECEIVER
Frank E. Powell has been appointed by the United States treasury department as receiver for the First National bank, Etowah, which closed last week. Mr. Powell left for Etowah yesterday.
Mr. Powell was formerly in the service of the government in the attorney-general's department.
Powell Is Bank Receiver
Special To The News-Sentinel
ETOWAH—Frank E. Powell became receiver of First National Bank Thursday. He was formerly in the U. S. attorney-general's department.
Powell Is Bank Receiver
Special To The News-Sentinel
ETOWAH—Frank E. Powell became receiver of First National Bank Thursday. He was formerly in the U. S. attorney-general's department.
4.August 3, 1932The CommonwealthSomerset, KY
Article Text
FRANK POWELL APPOINTED ETOWAH BANK RECEIVER
Mr. Frank E. Powell of Chattanooga has been appointed by the United States Treasury Department as receiver for the First National Bank, Etowah, Tenn., which closed last month. Mr. Powell, who has visited here on several occasions, was formerly in the service of the government in the attorney general's department. Mrs. Powell will be remembered here as Miss Lena Trimble.
Etowah Bank Has More Cash Than Deposit Liability
Cantrell Banking company State bank here, probably the most liquid bank in the United States, according to issued Wednesday by following of State Banking Superintendent Robertson to Gov. McAlister's six-day bank hollday. The statement showed that the actual amount of cash its vault at the close Tuesday's was per cent greater than its total deposit liability This bank was organized by the W. Cantrell estate relieve the financial stress brought on by the closing of the First National last June. Its entire board directors is confined to members of that family.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.