The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1894-02-06

ly exhibited than in the reckless man-
ner in which it was proceeding TO
make litigation lnsolvent debtors
are sued, that neither now have a
dollar, norris there any future prospect
of their having one, subject To eXccu
ton {; the property of men amply SOL
vent in every respect, is attached ON
some frivolous excuse, and law suns
are the results with almost certain anu
disastrous Judgments for damages ;
compromises. where debtor praciit-
ally insolvent, offers to turn over
property that will secure all or nearly
all of his debt is refused, and about
all of tn debt is lost out of all which,
and much more that we could enum-
crate, only come court costs aud law
yers fees, TO DC paid from the assets OF
Che bank. Is il any wonder when
people saw what they consider sucl
reckless disregard of the banks III
teresis or such criminal ignorance OF
the simplest rules of business, thai
they lost faith in the Trust Company
ability to complete this trust in a
manner creditable to it and profitable
to the deposilors? When the bank
closed its doors committee
consisting Ofsome of the most success
full business men of this entire section.
went over the banks assets and re-
81 red to the stockholders that there
were good notes sufficient, without
taking any account of the Mitchell
paper, i, pay the depositors in full,
Later on Mr.. j. Green Trimb'e, who
we are ready TO say, can show with
Mr.. AttiIla Cox-dollar for dollar--or
every cent Mr.. Cox has made, anc
whose judgment on piece of paper IL
considered no mean thing, was APP
pointed Temporary Receiver; b.
stated before he turned into the
hands of the trust Company, tn,
assets of The bank that he could pay
every dollar oil the banks indebted
ness Nilhiu wear and have some.
hing lrIt tor the stockholders Mr.
| rrmuIv is sill of that opinion. Tn,
| trust Company took hold Of the affairs
1T tins Dank and the value OF tn,
assets began to fall at once. Reports
began 10 be inHustriously circulated,
whether by those interested in the
Trust Company or not, we are unable
TO say, that the bank will pay only
500, 7j25, 5O96, etc, until an EN-
pluyee OF his same Trust Company
when summoned before the Board OF
Supervisors of the county states that
the bank, in his opinion, will not pay
more than % 6r 80 cents on the, dollar
Is ii any wonder that the appoint
nent was bitterly denounced by the
people of Mt. Sterling, when not only
are men who owe over 100000 pu, h
ed to the wall for its collection but the
| depoSiJors who out of something over
5000 are only to get from $75,OW
to $4,000 of their money. In short
this Trust Company is hewing at the
root OF me County's prosperity with q
doubled-edged ak. That was a faIaI
error wueu 50 large an amount OF the
business interests of this section was
placed in the hands OF corporation
that had no kind of interest in us
except TO get its fees out of the funds
OF the bank.
The Trust Companies, of Louisville
are the only ones that we hear
of that are seriously Objecting
to this very salutary law that
Judge Beckner has introduced
We have had Il most singing example
of what evil may and often will
arise from placing so large part OF
the counly'o interests in the hands OF
those who have nothing in common
with Us.
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