New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-03
UPECKED BY DISHONEST OFFICERS.
THE FIRST NATIONAL BANK OF LITTLE ROCK
CLOSES ITS DOORS.

THE FIRST NATIONAL BANK OF LITTLE ROCK
CLOSES ITS DOORS.
little Rock Ark. Feb. o.-The First NATIONAL baiiN
OF this city did not open for business today. ABOUT
ton DAYS ago the bank passed through u crisis, but
through the timely arrival and assistance oil Coohe
Logan H. Roots. Its former president, confidence was
again restored and the public had begun to mink the
Institution as solvent ever. The banR WIS re
organized nearly two weeks ago with Coohe' hoo. No
president and Dr. O. NJ. Taylor as Vice presoeh Inc
causes that led the suspension OF the pahR was 'n
issuance OF fraudulent paper by the FORMER oic'is
OF the bank to tho amount OF several hundred
dollars. In an interview last night Coroner Los'"
II. Root said
uvh.r = too,r charge OF the bank the statement
ebovea that President Als and hIs frtnds had per-
sonally taken more than SfJO.UIO ~ 'le o'lih
money and for which there was n'tle seru'itS' 'i"
then paper has been presented bearing the ihuo'se
~ the banks name by either President Ais OF 'usnie
Dennis that was not on the books OF inc 'nSu."""'
More than $4,000 Of such paper mas airca"S "p'
noared and rlmors have been received OF more thah
,,I, mot omoe,nt There IS no way OF ascertain
In, tho cxoct amount Of such fraudulent paper, out
- which the bank has never received one cent
benefit Under the circumstances we thoueht IL oeS'
IN close the institution and place Its affairs III inc
hands OF the Government.
"Thc form Of most unrecorded paper Is s',"pN
ordinary prOmS,OrY notes, i1o>I ol WIN" w
coon and are signed by either City Electric haliWaF
compony., Press Printing Company The Mc~arhy
Icvce Company' or other persons CLOSELY cohhec''u
with Mr. Als all indorscd by the banks nhn'e py
Alls and Denny Whether dcpostors VIII be pald III
n,ll or not depends on many things The stockholders
liable ITO an assessment in the aggregate amounting
n $500 600 whether all can or Will pay no one
c,u sac II has assets, Of course mat are Na'udO"'
hnt - 70 the unknown and unrecoried liapiiu"S ITO
marta, can tell Tho capital stock of tho bank was
200 coo: surplus, 100000"
Colonel Roots resumed the presidency OF the IN
s,itniIon ON January 30. and in two DAYS Afterwards
Il ,vos given ont by the bank officials that the ouS-
,.ss ~ H., concern was Increasing. Two weeks ng
,hc ,,nn,, had on deposit F;is5OoO II closed I'M.
morning owing Individual and bank deroliors abmt
sac 600 and the Government about T'oooo WHfh
T. secured by $4,000 In United states oohnS' ,le
hopt bcinc the Government depository In thlS n S
I, nov turns ont that all the large dep,st1rs WHO
nioccd their mucy In tho bank after Nolonei hooIS
tnol, charge I'm order to make II appear ,hat .ol-
cSnncc In The Institution had been restored, ana SO
viii the understanding that they would be nl'rm'd
~ lime 10 protect their interests IN case laiInre
n 90 All OF this class OF deposltors were IN
or,n.d yesterday and the debts OF honor were DIS
cb.reed None Of the depositors will lose ANYTHING
=. ,Ia failure The loss falls entirely upon Eastern
,eopc md those friends Of Ais In Little Rock VINO
Endorsed his paper.