Meade County news. [volume] (Meade, Kan.) 1900-1918, 1902-10-02
The Bank MuddIe.
From the Cimarron Jacksonian.


The closing of the Cimarron State
Bank, as announced in last week S
Jacksonian, has been uppermost in
the public mind since the news was
first made known, business being
practically at standstill until with
in the last day or two. But the peo-
pie have recovered from the shock
and business is once more running
along in the regular channels. The
per capita is not as large as usual,
but no serious inconvenience has
been occasioned on this account.
The publication of the Jacksonian
has been delayed this week in order
that the very latest information with
regard to the situation might be laid
before our readers.
Eugene Davis, Deputy Bank Com
missioner, finished his examination
of the books and records of the in
stitution Wednesday,, and on the
same day submitted his report to
Clad Hamilton, assistant attorney
general, who came here.from Topeka
for that purpose. He Immediately
filed a statement of the findings in
the District Clerks office and made
application to Judge Madison for
the appointment of a receiver to
take charge of and wind up the af-
fairs of the bank.
Judge Madison came up yes
terday (Friday) and acted upon
the application, appointing Andy
Russell, of Dodge City, as receiver.
Mr.. Russell is the ex-treasurer of
Ford county, and man of ability
and unquestionable character and
standing. He will be required to
give bond in the sum of $40, 900 in
some reliable surety company.
Considerable dissatisfaction is ex-
pressed that no man of sufficient in
tcligence and integrity could be
named in Gray county to fill this
place. 1t would certainly have been
much more satisfactory to the de-
positors and all concerned. But as
Gray county annually dumps thous-
ands of dollars into the grog sh ops
and stores of Dodge City it may be
Just as well that we allow the fellows
down there to manage affairs entire
Iy.
The receiver will commence his
work as soon as his bond is approx
ed, which will probably be within
the next two or three days. In the
Sheriff Pribble will be in
charge of the bank.
The report of the examiner shows
a shortage of sI58o2.I7. but the
bank Officials claim that it is much
Iess-in fact, they insist that there
will be little if any shortage when
the books and accounts are straight
ened out. The examiner states that
everything was in such muddle as
to render it impossible to arrive at
correct understanding of the sit
nation.
Loans, notes and overdrafts to
the amount of over $4,000 were
off, while many of them are
known to be as good as gold.
County warrants to the amount of
So, 900 is listed at face value, and
much of it will soon be redeemed at
par with the interest added, which
amounts to considerable. Addi-
tional securities, amounting to over
So, 900 have been gathered up with
in the last few days. The bank
and fixtures is listed at
81, 900, when the fixtures alone would
be considered cheap at that price.
The liabilities are placed at S5S, 900
in the report, and the bank officials
claim the assets will exceed 500, 900.
Under the head of ''insolvency"
in the report the amount is given as
$40, 900, which, according to our
understand ng, means that if this
amount-in the event it be found
correct-was paid in, the depositors
would be paid dollar for dollar.
The books and accounts will be
gone over carefully, and the Jack
sonian has confidence that the de-
positors will not suffer.
To all the members of the Baptist
Church, the first Lords day in Oc-