The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1891-11-27
Harmonious Meeting of Bank Of
COIumhia Creditors

AT the meeting of the creditors of
the Bank of Columbia, held in the
Circuit Court room last Monday, a
large number of parties interested
were in attendance. Judge A. M.
Hughes was called to the chair and
w. B. Greenlaw made Secretary.
On motion of II. p. Figures all par
ties not depositors of the bank, or
representing depositors were request
ed to withdraw.
81. P. Figuers, Esq. moved that a
committee be selected by the Chair
man to select a committee to examine
the books of the bank. Hon. w. J.
WhitthOrne moved to add that the
committee appointed by the Chair
man consist of ten members, and that
this committee select seven as the
examining committee. The motion
carried and the Chair appointed the
following: w. M. Cheairs, w. ].
Webster, III. P. Figuers, Maj j. ].
DObbins, Geo. w. Stockard, ]. H.
Courtney, w. G. Martin, John B.
Ashton, E. n. Woodland and John NJ.
Burnes.
This committee retired, and in
few minutes returned and for the ex-
aiming committee reported the fol-
lowing: III. p. Figuers, John B.
Ashton, G. w. Stockard, w. J. Web
ster, A. n. Akin, j. H. Courtney and
j. K. Farrell. The report of the COM
mittee was adopted.
w. j. Wbitthorne introduced a res
olutiOn, which, after debate was
amended and then passed. The reso-
luton originally contained q clause
directing the committee to consult
with the Trustee as to employment
and pay of counsel, limiting fees of
all counsel to what would be a rea-
sonable fee for one good firm; and
also to consult with the Trustee as to
the employment of a competent bust
ness man or men to aid him in wind
ing up the affairs of the bank. On
motion this clause was stricken out,
and the resolution as adopted reads
as follows:
Be it ResOLUed, That this committee
be instructed to, as soon as practical
BILE, proceed in accordance with the
previous request of Maj. w. p. In
gram to investigate the condition of
the Bank of Columbia and the causes
leading thereto; the assests and liza
bilities of said Bank, and to employ,
If they deem necessary, an expert to
aid them in such investigation,
And be it further Resolved, That
they be requested to act promptly
ana puDllsh IN the county papers the
result of their investigation, as soon
as it is completed, and all such in
formation as may be deemed of bene-
fit to depositOrs as they p ogress.
1t being stated by p. H. Southall,
Esq, that Maj. w. P. Ingram had
expressed his intention of conveying
n trust all his individual property to
secure the creditors of the bank, on
motion of Mr.. Whitthorne the fol-
lowing resolution was also adopted:
ReSOLVed, That the committee con-
suit and advise with Maj. Ingram
as to the selection of a trustee tor the
property conveyed by him to the
Bank of Columbia, If necessary to
have one.
The meeting then adjourned.
Immediately af er the adjourn
ment OF the meeting of the creditors
of the bank, the examining commit
tee met and organized by selecting a
chairman and secretary, and app
pointed subcommittee to wait
upon Mai. Ingram and notify him of
the action of the meeting. Mai. In
gram informed this committee that
he would complete his statement of
the condition of the bank by next
Tuesday, and the full committee adj
iourned to meet again that day to
commence their investigation.