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ENTERPRISE BANK "SUSPENDS; FUNDS ITHDRAWN CAUSE (By Associated Press.) Enterprise, Miss., Feb. 9.-The Bank of Enterprise did not open today. F. O. Voorhees, president of the bank, said the suspension of business was caused by an unexpected run on the institution Saturday. He said the depositors will be paid in full. It was capitalized at $15,000.
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SMALL BANK IN TROUBLE. Enterprise, Miss., Feb. 9.-The Bank of Enterprise did not open today and F. 0. Voorhees, president, said business was suspended because of unexplained "run" on the bank Saturday. He said all depositors would be paid in full. The institution was capitalized at $15,000.
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BANK TROUBLES available cash The following editorial from the Alcerns and indiv bany Herald will be of interest to feeling of une readers of the Times-Recorder. insowith important much as the recent closing of the doors general fear tha of the Americus National bank is the a country-wide all-important topic of the day in AmerAnd yet, b icus: not the signs G. F. Armstrong, cashier of the panics. As a r Bank of Hazlehurst, sent a bullet into to detect the storms. and the his brain at his home yesterday when he saw the sheriff of the county apin ample time preaching to serve a warrant. Armagainst the dan continued blow strong's bank was closed several days ago, a shortage of $12,000 developing, firm or corpora but he had not been arrested up to in time of pani yesterday. The warrant was sworn banks are runn and will let ou out by a customer of the bank, who charged that Armstrong had misapprois absolutely ne priated notes left in the bank for colMost bank fail lection. honesty of their A son of Armstrong, W. 0. ArmSome, of course strong, is now in jail at Rentz, Ga, est mismanagen such cases are x charged with responsibility for a shortage in the Bank of Rentz, of ery one of the I which he was cashier. The bank is above seem to closed. dishonesty of S C. Hunter Raine, president of the held positions di Mercantile Bank of Memphis, Tenn As a rule, b is short $750,000 in his accounts, draw large sala and the bank regarded as one of the ly sufficient, bu strongest financial institutions in Tenfinancial institu nessee, is closed. salaries large er The Americus National Bank IS who receives closed because of losses, the extent "splurge." We of which is not yet definitely known. living, and the and though no arrests have been a man having a made, defalcations are hinted at. ready cash to extent which hi The Bank of Enterprise, Miss., failed to open its doors yesterday because It is easy to " of a shortage which developed unexcourse, pay it b Success or failu pectedly, and the newspapers have contained reports of a number of oth r a small shortag same result-th bank suspensions, most of them due to shortages of officers or employees, to make possibl during the last few weeks. was lost, or the or income. It When anything like an epidemic of bank suspensions is reported, it is in the bank emple life is promptl evitable that there should be a greater or less degree of uneasiness in the cloud of suspi public mind. In the more nervous tion with which communities, there is a drawing in of the penalty the
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Run Closes Enterprise Bank. Enterprise-The Bank of Enterprise is closed. and F. O. Voorhees, president, said business was suspended because of an unexplained "run" on the bank. He said all depositors would an paid in full. The institution was capitalized at $15,000.
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RECEIVER REMOVED. Hickory, Miss., March 12.-The pett tion of W. H. Moore et al, for the re moval of M. W. Buckley, receiver of the defunct Bank of Enterprise, was heard here today by Chancellor Tann in vacation. Testimony had, been takent previously at Enterprise, leaving th summing up and pleading to be done here. At the conclusion Chancellor Tann stated that he realized the conditions under which Mr. Buckley, as re. ceiver, had labored in an effort to ad. just the affairs of the defunet bank, and that the business depression and stringency attending the presence of abnormal conditions have served to handicap the receiver in the perform ance of his duties, but that in view of the existing conditions, the state of unrest and dissension now prevailing in the vicinity of the location of th defunct bank, and opposition to the progress of liquidation. Therefore It granted the petition for the removal of Receiver Buckley and appointed
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FOR SALE Horses and Mules. J.T. Pinkerton, Waynesboro, Miss, [Advertisement] BUCKLEY DENOUNCES CAMPAIGN CANARD. To THE VOTERS OF THE 10th. JUDICIAL DISTRICT OF MISSISSIPPI:I have been informed by some of my friends, that it is being circulated over the district, that I was connected with the Bank of Enterprise at the time of its failure as one of its Directors or Officers, which IS NOT TRUE. I lost my residence by fire a short time before the Bank failed, collected the Insurance money and. deposited it in said Bank for the purpose of rebuilding, and at the time of its failure, I had on deposit, $3,989 06 In addition to said deposit, I owned $600 00 of the Capital Stock, a part of which I purchased from Mr. Kamper, a few months before the Bank failed. I bad no knowledge of the Bank S condition. until after it had gone into the hands of a Receiver, which information was furnished me by Mr. Will Ward, while I was holding court in Meridian, Monday morning, Feby. 9tb 1914. The failure of the Bank necessitared my having to borrow money from 1 friend in order to rebaild mv home. I was the largest depositor and the beaviest loser of anv other person, and any rumor in conflict with the above is absolutely untrue. I trust, my friends will go to the pells on March the 7th. and cast their votes for me, which will be greatly appreciated, and if elected Judge, I promise to be faithful in the discharge of my duties. JNO. L BUCKLEY. [Advertisement]
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ROSS A. COLLINS His Record of AchievementsPerformances, not Mere Promises 1. Broke up the Cotten Seed Trust and thereby saved the people of this State millions of dollars annually, besides turning into the Treasury of the State more than $125,000.00. 2. Kept down long-distance telephone rates for five months by suit instituted by him. thereby saving to the people of the State thousands of dollars daily. 3. Kept down monthly telephone rental rates by suit instituted by him, and thereby saved to the people of the State thousands of dollars monthly. 4. Kept the telephone companies from forming a giant telephone and telegraph combination which would have meant greater rates to the public. He also made the said companies pay to the State a penalty of $50,000.00 for such violation of the law. 5. Kept down the price of school books. thereby saving thousands of dollars annually to the parents of the school children of the State. 6. Kept down freight rates and saved the people of the State hundreds of thousands of dollars monthly. 7. Caused the Legislature to establish two rate experts for the benefit of the shipping public and provided for the payment of their salaries from collections made by him. 8. Supported the laboring man in every effort to better his conditions. 9. Kept every passenger train running in Mississippi, and even after rannouncements were made that they would be taken off, and he is the only Attorney General in the United States that did this. 10. Caused the Standard Oil Co. to pay a fine of $60,000.00 for violating the law of the State. 11. Fought for the enactment of the Child Labor Law and other laws in behalf of women and children 12. Fought all efforts of corporations opolize the landa of the State and did more to put farming corporations out of business than all other public officials combined. 13. Sustained against attack the Guaranty of Bank Deposits Law, therebe making depositor's funds safe. 14. Caused to be passed a law prohibiting oil mills from monopolizing the ginning business, and compelling them to dispose of such gius as they owned. other than those located at their plants. He upheld against legal attack the constitutionality of the act. 15. Upheld practically all acts affecting the welfare of the people when attacked in court. 16. Fought and upheld in the courts the law prohibiting manufao turing concerns from working employes more than ten-hours per day. 17. Stopped the railroads from charging passengers a penalty in addition offAre when boarding trains without tickets. 18. Wrote th Meterendum petitions and sens them out at his own expense, citing the public the right to vote on the Fish and Game Lav, and. further, sustained in court the Initiative and Referendur Amendment to the Constitution of the State 19. Has fought profiteering and plundering at the hands of the rich and powerful. crooked interests, and proposed specific legislation to remedy the evil. 20. Prosecuted violators of our State Banking Laws and compellied the payment of hundreds of thousands of dollars to depositors by those responsible for the failure of the banks, as, for in stance, the Union Bank & Trust Company of Meridian and the Bank of Enterprise. 21. Advocated in his reports to each of the last four Legislatures many salutary changes in the statute law of the State, which were enacted. and have proven of vant benifist to the people THE ABOVE CONSTITUTES A RECORD OF PERFORMANCE OT CAMPAIGN PROMISES. HAVE ANY OF THE MEN OP. SING HIM DONE THIS MUCH FOR YOU THEN WHY NOI VE HIM YOUR VOTE AND SUPPORT: He is a unique character in many rs ago. respects. He possesses some distincSince Mr. Copeland's patorate in
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Clarke County shows through its county-seat paper, the Tribute, published at Quitman, the most foreclosure Sales being run at this time that we have noticed. The last number of that paper bad seven such in it. One of them was about a column long and was the sale under chancery receivership of the property of the old defunct Bank of Enterprise; the other six were mortgage or Trust Deed Sales. A man who has a mortgage indebtedness and IS not paying something on it these days of flush money tide, can not blame his creditors for closing III on it, though we recognize that temporarily there might be mitigating circumstances, accounting for a failure to keep up payments. The farmers loan will gradually take the place of a great deal of the mortgage system of this section of the state and with it more liberal terms and lower rate of interest is allowed, but even with that its preferable to travel without borrowing if sufficient capital for operation can be mustered by a squeeze, as its easy to borrow sometimes but nearly always hard to pay back, when pay-day rolls round.