Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1903-01-06
SOME
BANK
NEWS
Who Will Manage the Farmers &
Producers Bank
AFTER TUESDAY, THE l3TH,lOO3
Why the Bank Will Have New Officers.
Tn. Facts as Near aswe
Can Learn THIN.

AS our readers know, there has
been great deal of talk about the
the Farmers and Producers Nation
al Bank and the Tyler County and
First National banks all of this city.
1t has been reported that the Tyler
County and First National Bank
had bought the Farmers and Pro-
ducers bank, that the later bank
was to be closed up and merged
into the Tyler County Bank. Again,
1t has been reported that since the
Tyler and First National had bought
the Farmers and Producers bank,
trust had been formed, that here.
after depositors would have to pay
tor check books, that no interest
would hereafter be paid on time
deposits that the rates Of interest
would be advanced, that money
would be very hard to borrow and
so on, worlds without end. We can
S ate that there Is absolutely no
truth whatever In any of the above
statements. It is all false, every
single item from beginning to end.
The Tyler and First National banks
have not purchased the Farmers
and Producers bank. IT for no
other reason, for the very excellent
reason because these banks could
not buy an other bank and run 1t.
IF they did they would lose their
charters Any sane man ought
to know this but 1t appears some
people who do not think any have
believed this to be true. It's ab
solutely falsi.
There will be a change after
next Tuesday In the Farmers and
Producers bank, principally be-
cause the gentlemen who have been
managing that bank have resigned
and are going to start another
bank. IF they were not going to
do this every man now connected
with that bank would continue
just as they are except as to the
president and It's not at all improb'
able he would be retained.
Now, what really Is the cause of
the change?
AS we understand 1t, L. A Bren.
uenan and Dick Jennings, we'll
known here but residents of Pitts
burg, jointly owned little over
one-half of the stock of the Farm
ers & Producers Bank of this city.
For some reason unknown to US,
they wanted to dispose OF this
stock and insist they offered 1t for
sale to the present management of
that bank, In ooher words offered 1t
to the men who are now going to
start a new bank. This stock has
been on the market at least since
last summer but 1t appeared no
body wanted 10 buy 1t at the price
asked for It. Last November the
stock was optioned to Henry W.
Mccoy, Of this city. The price was
to be $751; for hundred dollars of
stock and after considerable talk
the price and terms were agreed
upon, the stock sold and transferred
to Mr.. Mccoy. This put the stock
In the hands of a man who lives
here, invests his money here, Is a
leader In every proposition to bring
industries to our city, has laid more
pavements than any other one man
in our city, has stock In many
things here and Is an honest, up
right man and u good citizen. This
stock was offered for sale and he
had a legal and moral right
to buy 1t. Nobody can dis
pute this proposition. Who else
was concerned In the purchase of
this stock beside Mr.. J. Mccoy we
don't know nor do we care, the
books and papers show Mr.. Mccoy
bought 1t. After Mr.. Mccoy bought
this stock he again sold considera-
BILE of 1t to other people who wanted
to invest money and who believe
thie hank stock ie Oo0d having