The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-05-15
OcALA's BANK CRASH.
The Creditors in Favor of Giving
TIA Chance 10 Resume.

The Creditors IN fnNOr OF NiNihS
TIA Chance 10 Resume.
Ocala, Fla, May 4.-The depositors Of
the First National Bank met this after
noon in Knights Of Pythias han. which
was crowded. H. w. Long was made chair
man and T. T. Munroe secretary. Dixon
Grovine stated the object Of the meeting
TO be to confer with the stockholders about
resumption, and to assist in the same
Judge W. S. Bullock spoke for tine
stockholders and especially for f.. w Ag-
new, and as a depositor, said he was not
an applicant for the receivers position,
appointed. A receiver meant the destruc-
tion of every depositors Interest. When
Bank Examiner J. X. Mcdonald took
charge the officers OF the bank become
dead. The examiner acted for the stock
holders. A statement was not yet ready
and he could not say when II would be-
This was In the discretion OF the exam
liner. 1t might be day, 1t might be ten,
no one would know its contents. The
examiner could not even Intimate what IL
would be. 1t would take a week from
the time the controller received the ex-
amners report until IL was made pub
lie. Then those interested could say II
the bank should go on. He was author
lied to say Mr.. AgneW had OFFERS OF help
from several parties II the examiner
report was favorable, which would mean
a new organization, new officers and fresh
cdpllal. Bank Examiner NitDpndlu war
highly spoken of as man and an official.
lie opposed the appointment of a re-
ceiver until the inevitable. come, as It
would take him three or four years to
complete his work
Col Edward Spencer moved that the
meeting adjourn until the last Wednes-
day in May, but at the request OF IL.
Arentz. Mr.. Spencer withdrew his mo-
ton and Mr.. Arentz substituted one
which said it was the sense of the de-
positors present that IL the bank can re-
npnOgftOrg will give all
% One man shouted Five years. If Agnew
wants it,"
The resolution passed.
Joseph A. Horns said he had known Mr..
AgneW since he was a boy that no one
knew the financial condition of the cred
itors of the bank as Mr.. Agnew did. and
he was willing to let him be the judge
of their likelihood to pay:
Mr.. Agnew was called for and said the
day the bank closed II owed 235,OOO. II
reasonable time was given for the assets
of the bank to be collected he had no
doubt that after paying off all the deposit
tors there would be a surplus of 100000.
lie thought, in case Of resuming payment
to depositors could be made In eight in
stallments, say three months apart
though it might not require six months
TO DO this He then reiterated Judge Bull
locks statement about help and reorgani-
Judge Bullock said the proceedings of
this meeting would be reported to Con-
troller Eckels and suggested that the
number Of depositors and their proxies
be sent him Six additional secretaries
were appointed and 315 depositors and
proxies were found present, and 1t was re-
duested that no receiver be appointed until
the meeting Of May % so ordered. Every
person present was in the best of spirits
and felt confident that Mr.. Agnew would
pull the bank through all right If time was
given him.
Senator S. Fl. Bitch was present. He
will go to inspect the convict camp at OK
ford tonight and return to Tallahassee to-
morrow.