The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-03-19
FIRST DIVIDEND TO
Be PAID TODAY
Creditors of Defunct Bessemer
Bank VIII Get Money
CLERKS ARE WORKING HARD
The Payment Today VIII Wipe Out
rs Per Cent of Claims Against
6essemer Savings Bank.
Other News.
CLERKS ARE WORKING HARD

Bessemer, March (special)-Begin-
ming tomorrow morning at o'clock at the
offices of the Bessemer Trust and Bank
ing company the receivers of the defunct
Bessemer Savings bank will pay the first
dividend to the creditors of the institu-
ton. The payment tomorrow will wipe
out Is per cent of the claims that were
allowed against the bank.
For the past week the clerks of the
Bessemer Trust and Banking company, on
which the checks will be given have been
working hard to make out the checks pay
able to the depositors of the Bessemer
Savings bank.
1t will be remembered that on last July
the doors of the Bessemer Savings bank
were closed, quickly followed by the Bank
OF Commerce going to the wall. Capt. T.
J. Cornwell, president of the bank, went
to South America, but last month he re-
turned to the city, made bond, and will
face the charges against him.
George II. Stevenson, one of the city's
leading business men, was appointed re-
ceiver of the bank and Trotter and Odel
and j. A. Estes We're named as the at
torneys to assist him. They at once took
charge of the affairs of the institution
and 1t was discovered that the total
amount of indebtedness was $242 BPS, of
which amount $47,530 is interest bearing
certificates of deposit; $349S O3 is interest
bearing accounts; $500 claims filed but
contested as interest accounts
Slll21O claims filed as Understanding or
savings inn go Dn 40
nied as excessive of duplicates; 1929 %
contested on grounds that they are dup
ncates' and $l1,S63.62 of open account
claims contested as being excessive.
Inc amount of claims that were I'M
contested by the receivers and on which a
dividend will be paid tomorrow is $780,
24S6S In general deposits, uncontested, and
slo Jul. As unpaid New York exchange.
The receivers have instituted proceed
ings against the original stockholders of
the bank. Mr. Carpenter and others. which
case will probably come up soon in the
chancery court in Mississippi 1t Is
thought that the receivers will be able
before long to pay another dividend to the
banks creditors
Wants Editors Addresses.
Prof, w. P. Gum, secretary of the COM
mittee ON entertainment for the Alabama
Press association, has addressed a letter
10 the EDITORS of the state. inviting them
to attend the convention that meets in
this city In May. The committee on en-
tertainment is eager to get all the names
and addresses of the editors and the
delegates who will attend the convention
in order that they may be assigned to
homes. Every one In the state is request
ed to send his address or a copy of his
paper to w. p. Gum. secretary of the
committee. Bessemer
Meeting Is Postponed.
The citizens who are interested in the
movement to build the Bessemer, Brook
wood and Blocton electric car line post
poned the meeting called tonight until
next Monday afternoon at clock, on
account of some of the members of the
central committee being out of the city
and unable to attend the meeting this
evening.
The citizens are In earnest about this
movement and all the subcommittee
are working actively getting matters in
shape to begin work on the road. The
franchise throughout the city has been
granted by the council and the prelimi-
nary survey, 1t is thought, will be COM
menced in a short time.
To Move Soon.
The Bessemer National bank will prob
ably move from its present quarters into
the new building erected for it some time
next week. The structure Is located OH
Nineteenth street between Third and
Fourth avenues, and is one of the hand
soonest and most imposing in the city.
The furniture has been put in place and
everything is being put in readiness for
the banks removal
Deed Filed for Site.
The deeds conveying the proposed site
for the new postoffice to the government
has been filed in the probate court. The
amount given for the site was $500.
Social and Personal.
Mr. william G. Edwards of Laurel,
Miss is visiting DR.. j. W. Carter.
Miss Fannie Jones of Ensley Is the
charming guest Of Miss Laura Jones or
Berkeley avenue.
The Epworth league of the First Meth
odist cnurcn will hold a social next Fri
day night. March %, at the residence of
Miss May Bell Hill
Mr.. VIII Edwards of LAUREL. Miss, is
visiting his friend, Mr.. Lee Moody.
The entertainment given at Library hall
tonight by A. Icyda, the japanese lee
turer and family under the auspices of
the Epworth league was largely attended.
The Rev. d. w. Morgan will preach at
the Jonesboro Baptist church next SUM-