The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1894-02-06
The Courier Journal And The
Trust Company.

If there is one thing above another
for which we admire the Courier
Journal, it is its Sterling fidelity to all
that interests its own city, 1t exhibits
keen interest in all that pertains to
Kentucky but where tie special in
terests of Louisville are concerned.
those of the state a. large must stand
aside. Notably is this commendable
characteristic of the Courier-Journai
exhibited in its severe attack on Judge
Buckner's Bill to put limit to tn,
grasping greed of the Trust Companies
of the state. That the force of this bill
is, primarily, directed at the Trust
Companies of Louisville we do not
suppose any one questions, for these
are the institutions that from late de-
velopments in this county, need to
have their growing and tightening
grasp taken off the threats of the peo-
pie. That the Senate will see the
necessity OF curbing the powers OF
these"money devils" and saving other
portions of the state from the Sc
we're trial through which we are pass
ing we sincerely hope. II the hardships
we are enduring shall be such an oh
ject lesson as shall awaken our Law
makers at Frankfort to the necessity
of putting limit TO an evil of threat
ming proportions, we shall not have en-
dured the pressure of the heavy hand
of this corporation in vain.
The Courier-Journal says: The
passage of this bill illustrates the cas-,
with which Legislative body may
be induced to lend itself, in ignorance
of the facts, to = perniciOus interfer-
ence in the freedom OF business for tn,
purpose of satisfying private grudge
The circumstances leading up to THU
bit of legislation, for which there ha.
been no demand save from one quar-
ter, are the best evidence that the bill
is vicious, and that it Will remove q
valuable safeguard against fraud H.
the discharge of trusts.
The New Farmers Bank of NJ
Sterling suspended during the panic
The court appointed Louisville trust
company receiver. over the protest OF
the officers and principal stockholders
of the bank, who had a choice of Their
own for receiver. The appointment
was bitterly denounced by Nj. Sterling
people, and the Mt. Sterling press feel.
ingly pictured the debtors of the bank
relentlessly crowded 10 the wall by .
soulless foreign corporation who wan
ted the money to bring to Louisville
and pile up in their vaults, after eX-
tracing fat fees therefrom. Subsequent
events proved the wisdom of appoint
ing disinterested receiver, who could
be relied on to settle the banks affair,
III strictly business way, and save
as much as possible for the stockhol-
ders.
What does the G. J. mean by 'satis-
flying private grudge ?" 1t certainly
does not mean to say that Judge VIM.
Beckner is SO small that, because he
has lost few dollars by the Columbia
Finance & Trust Company being
made Trustee of the New Farmers
Bank Interests, that he will seek his
revenge in the line of his proposed
bill, The facts are, Judge Beckner,
directly, lost nothing by this transac-
tiou, but he was near enough to the
ground to be thoroughly conversant
with the workings of this corporation ;
and, consequently, to understand the
eVi! it is bringing upon our people.
iIet us review few of the facts in
c0ruection with this case So far as
the inside workings as to how the
I"ust Company came to secure the
position a. trustee of the Banks inter-
ests, has too little to do with the mat
ten under discussion, to cut any figure
one way or another. Whether this
appointment was brought about toy
TAR or false means, straight, or by
"Fraud and Bribery" we do not care
10 discuss; nor does it matter that "ihc
Court appointed Louisville Trust
Company receiver over the protests Of
the officers and principal stockholders
OF the bank, who had a choice Of their
own for receiver" when those warn
ing factions went into Court before
the judgment had been entered and
told the Court that they had rrcOnciled
their differences and agreed upon r
receiver. 1t is true "the appointment
was bitterly denounced by Mt. Ser
ling people, and the Mt Sterling press
Git by the Mt. Sterling press is meant
tne ADVOCATE, other papers of the
town, for reasons best known TO them
selves. have not seen fit to expose this
Trust Company's doings and methods)
feetingly pictured the debtors of the