The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1893-05-05
In the Face Of its DepOsitOrS.-NO
Statement Made or LINely 10 be
Made Soon.
Bank Examiner Belts in Charge-The
AIaury National Bank UniuOlested--
DepositOrs Take Theic Trouble
PhilUsOphically,

National Bank last Friday morning
at o'ciock by Cashier Geo. Chm.
dress, tells the story, ~ lar As it has
gone, OF the tbird-aud we hope the
last-sad chapter OF these oft recur-
ring events. The notice reads rs fol-
lows:
owing to the continued with
drawal OF deposits from this bank
since the Nashville failures, it t.
deemed best to suspend payment
iemporarily.h
This little notice had no signature,
but it was supposed to be au hentic,
IA the doors were ut once clos, d aud
the curtains Gr4Tn. Then tue crowd
began to assemble and to talk. There
was more or less excitement Tor q
little while, but it, soon quoted down
and a dense gloom took its place.
Ga the afternoon OF the day OF the
failure a HERALD reporter sought
aud Obtained Snort interview with
Mr.. Cnildress. He said the notice
ou the door contained all the state
ment he had to make. Further ques-
tioning, however led to the following,
| i'll Substance:
He said that sincs the run was
made On his Uank IN October last,
which run the bank stood without
shaking, he had had good business
and easy sailing. He had borrowed
good deal OF money at that time to
meet that run, bu. had paid the
greater part of 1t back aud WAS in a
comparatively easy coalition, when
the recent bank failure, in \ >shvllle
came up. Since then over $4,000 in
deposits have been Withdrawn from
the bank. In addition to this tue
oank failures there had made money
20 scarce in Nashville that he cOulu
uOt b PROV any there, and the samr
cause had excited an nueasint IS aud
-u-plcion ia New York that cut off
all assistance from that quarter
Thus every day The bank WAS being
trained and no hello from anywhere
Thursday he learned Of two or three
checks for large amounts that would
oe presented Friday morning, and he
went TO Nashville 10 try and hurry
Up sUme arrangements he hal mad
for money this week. He failed il
Nashville, and while there tele
graphed to NV York, offering first
class cOIlaterals. He requested anC
hoped for an answer eally Friday
morning, but no reply coming anC
believing it would be an Injustice t
other creditors to cash the large
clecks he knew would be the first I,
be presented, he hurriedly called {
m =rtiug of the directors aud they
determined at once to close the doors
But for the Nashville failures, h'
said, this bank would have had N
trouble at all. Immediate y after thu
notice was posted OH the door MI
Cuildress Telegram led a bank ex
aminer 10 come here and take charg
, Of tue bank.
: The Bank Examiner reached her
Sunday, and Monday mOruiug tn
following notice was posted on til,
, doc: 'rhis bank is in the hands o
Madison Belts, Examiner, by orde
Of the Comptroller of the Currency.
A HERALD reporter found his wa
into the bank that afternoon an
asked for an interview with Nj
Pc -. This gentleman, though YER
busy, still found time to be yer
,, courteous. He SAID he was just be
ginning bis work aud knew yer
: little ii any more about it than To
public did. He did not even knO'
, how much work there was befOr
him, and could not tell therefor
when he would bs able 10 give on
: any information.
Monday q street ramon becsm
Z current that the Back Examiner ha
= expressed himself pleased with tn
< cOnditiOn as far as he had gone, an
i na0 given 1t as his opinion that tn
. bank would be able to resume. |
e answer to direct question the T,
l porter put to him upon this poin
y Mr.. Belts said you can readiI
= see tnat, as am just beginning III
!, eX animation, | cannot have an
opinion at all all have said, all
e can say just now is, that | hope the.
y people will be able to resume"
T AS to the assets and liabilities, !
! one connected with the bank Wi
p make any statement or give any il
! formation. 1t seems to be general
II understood that the bank owes d
: positors about $l25,000; how muC
paper it has rediscOunted, nObOI
10 who knows will tell, but it is gene
NJ ally believed that it has redi4cOuntr
w very heavily. It's assets will u
M dOubtedly exceed its liabilities, b.
ID whether Its assets are goo1, or whetl
OO er much of it is worthless p4pe
DO slime alone will tell. Interes.t
DO par lies who have already inquire
OO into the liability aud sOlvency of Il
w stockholders, say that from $65, 900
at $4,000 can be realized from tn
Id source.
he AS all our efforts for infOrmati
as to assets and liabilities were futi
the HERALD will make no figur
70. nor express any opinion as to t
probable per c~nt the depositOrs W
receive. rhe HERALD will give
tue public from week to week. VIII
III information we can get; IL we gi
lie nothing, our readers may feel 81
+ we can get nothing.
g. The Maury National Bank has h
10 no trouble of any kind. MOnd
ne morning, shortly after the SeeO
II, National clio. ed its doors, the Msu
'n National posted on its doors n
ld windows, aud scattered broadcs
o, the following notice:
Jul To the Public: We, the und
n signed stockholders and directors
g the Msury National Bank, of Colu
a ~ \ 4