The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1894-01-23
The World and The Trust Com
pamy.

Inc COlumDla Flnance anu AIuS
Company is trying to collect whai
| is due and. owing to the broker
New Farmers Bank of Mt. Ster.
ling, so as to be able to pay part
il not all, of the debts due to de-
positors of money in the defunct
concern. To The World this seems
proper and right 1t is just what
Che receiver was appointed do to-
! But the Mt. Sterling Advocate
| is not happy. That esteemed jour
Inal seems to voice the feelings OF
those who failed to obtain the job
of winding up the affairs of the
broken bank, as well as of those
who are owing debts to it which
they do not want to pay until it is
quite convenient. The depositors
have rights deserving quite as fav-
orable consideration as they have
who owe debts past due, which
they are notready to pay.-Sharps-
burg World.
Brother Nelson, the Advocate is
mot happy" because it sees in the
course the Trust Company is pur-
suing a grave mistake (if nothing
worse) as to the real interest of the
depositors. 1t is not more plain to
Brother Nelson than to the editors
of the ADVOCATE "that the deposit
ors have rights deserving quite as
favorable consideration as they
have who owe debts past due,
which they are not ready to pay"
The ADVOCATE does not fail to un-
derstand that the debts due the
Bank must be collected; that sit is
just what the receiver was appoint
ed to do" But there are ways and
ways, and we venture the assertion
that Brother Nelson has collected
many a debt, in full, by exercising
a little forbearance, that an oppOs-
lite course would have utterly lost
to him. A little ''sanctified com
mon sense" is as valuable in set
Ting the affairs of bank as in
private business. Let us present
II case for illustration: There is
a man in this town whose note this
bank holds, without security. The
man is insOlvent. The Trust Com
pany demanded Of him the pay
ment Of the note. He explained
that it was impossible at present,
but that he would pay each month
such a sum, naming it, as he could
spare from his salary, but the needs
of his large family would not allow
him to do more. This would take
him about year to discharge the
debt. The Trust Company de-
manded security, and he replied he
could not give it. The Company
promptly sued him. Who pays the
fees and the costs of this
action? The insolvent debtor? Not
much. We do not think it will
take any great discernment to as
certain that the depOsitOrs will
have to foot these and many SINH
lar bills.
One thing more, Brother Nelson:
The ADVOCATE voices the senti-
ments and wishes of no particular
faction. Like the editor of The
World should be, and we will do
him the justice to say we believe
Is, the editors Of the ADVOCATE
are free from any entanglements;
md propose to conduct their paper
n what, they conceive to be, the in
erests Of the people among whom
hey live, without fear or favor. {
And just here is as good time as l
mother, to say our immediate pecu-
liary interest in the New Farmers ,
Bank is of too small moment to {
fleet us one way or another. We
simply conceive that the Columbia
trust Company is not suitable
trustee for these bank interests,
md do not think it is exercising
hat discretion necessary to an ,
equitable adjustment Of the inter
sts of those whose notes it holds, G
Tor Of those to whom the bank ,
tands indebted, and we are saying "
% without apology to anyone. t
Pinevhle, despite its reduced popu-