The Mt. Sterling advocate., 1893-09-26
. new FARMERS BANK.
The Columbia Safety Vault and
Trust Company Of louisville
Appointed Trustee.
The Appointment Meets the Gen
eral disfavor it Merits.

y The case for the appointment of a
permanent receiver for the New
Farmers Bank has been on trial in the
Montgomery Circuit Court the past
week, and the interest manifested has
been very great. There were num-
Der of suits growing out Of the matter
in hand, among them one for the
hearing of a writ of mandamus that
had been sworn out before Circuit
Judge John f. Cooper, to compel
County Judge Lewis Apperson to ac-
cert the bond offered by r. B. Young
as assignee of the New Farmers Bank.
I'm this case Judge Apperson filed an
<affidayit stating that he believed he
could not get justice at the hands of
Judge Cooper. Judge Cooper, after a
~statement in his own defense, vacated
the bench and Mr.. 10 l.. Eiliston, who
had been elected about the beginning
OF the term to serve as Special Judge,
took his place. The mandamus case
was tried and dismissed.
= Then came the case for the appoint
ment of permanent Receiver. In
this case r. Reid Rogers filed an
affidavit to cause Judge Cooper to
again vacate the bench. This case
w& fought till Friday even
ing, and was given into the hands
of the Special Judge at that
time. On Saturday morning Mr.. FL
liston, as Special Judge, rendered his
decision, appointing the Columbia
Finance and Trust Company of
Louisville Trustee for the Bank.
No more deadly blow could have
been struck at Montgomery county's
interests. Nothing that has been
done in this case has received such
sweeping and unreserved denuuciation
Ifthe sitting Judge had exercised his
greatest ingenuity to select that which
would have been the very worst thing
for our county's financial interests, he
would have found it difficult to hit
upon anything more detrimental. The
people are stirred up in no small de-
gree over this wretched piece OF bust
ness. The train of evils it will bring
upon the county are incaIculable. 1t
is fact that cannot be disguised that
the county is deeply in debt on ac-
count of its unwise indulgence in
boom speculation. Added to this
comes the financial pressure that ex-
EaN the country over and which only
places us in little worse shape than
many of our neighbors.
Now the affairs of the New Farm
yers Bank are to be put into the hands
OLA concern which has no interest in
common with our people, and indeed
none anywhere, save to make as much
money as possible for its stockholders.
This soulless thing is to take charge of
the business, remove every dollar as
fast as collected to Louisville and keep
it as long as the law will allow. Thus
our county will be drained of money
and at the same time the just dues of
!. the depositors will be kept from them
y as long as may be. This company
will at once, and without considera-
ti9n, attempt to push the collection of
TIE Gebts due the bank. If it can
succeed the property of those who are
principal or endorsor on the notes will
be sacrificed on a market in which this
Octopus will be the only bidder. and
If it can succeed in forcing collections
in this way, will buy up the property
so sacrificed at 40 to 60 per cent of its
value. But this is not all; one OF the
foremost lawyers In the State has
already advised several of his clients,
who are either principal or endorsers
on notes held by the New Farmers
y Bank, if this Trust Company attempts
to push the collections in summary
way, "'fight the devil with Are and
make an assignment at once and thus
secure the two years the law allows
you for settlement" Such course
means most disastronsIy expensive
settlement of the affairs of the Bank /;
besides, IT means the keeping of their
a