The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-08-08
DARLINGTON TRUST COMPANY


receivers Of tn Darlington trust
Company, is as follows:
To the Honorable Court: We, h
undersigned receivers respectfully sub.
T:; TIE following as on report to :ae
court.
Having duly qualified as receivers o.
the darlington Trust Company, above.
sfa'ed. we o charge of the books and
affairs OF said company and We fin3 On
the said books the following condition
Of affairs:
Cash on hand, s~1.sS3.34: furniture
and fixtures, s1,oI2.S6: discounts. Sl66 =
33S.1t: real estate. $50. Pas. 26: Allan ic
Natio lal Bank, 81, 036.30; National.
Bank OF Commerce, SIS, 007. so; Murch:.-
son National Bark, s1,929.34; South
Carolina Loan and Trust Company, 81
353.o5, Bank of Darlington, S5,so5 Co.:
total, 1888, 16168. Liabilities: Cali.al
stock paid in, $109,50 0 deposits. SEA-
1851; rediscounts, S94 ,077.94: AmS:l-
can National Bank, Richmond, S1,55s--
SO, Merchants National Bank of R'Ch-
mond, SS,028; Pa. netto Bank and Trus:
Company, $423.44; City National Bank
Greenville, $1,415.S1; Third National
Bank, Atlanta, $S,051.29; American
National Bank, ~Spartanburg, S3l. ,
profit and loss s7SS.92. Total s25S. icl.
6S.
Upon the foregoing statement We
think il will no; BE- inappropriate Tor
Us To make the following remarks:
Cash and cash items to the amount OF
$l,23334 have been duly turned over
TO us
discounts. We find all the notes .lst-
ed upon the books OF the Darling1r
Trust Company as olpears in the fore
gCing statement, except such as have
been '..scounted IN appear under tlat
naad i'll the foregC rg statement. We
find among the SAID notes and lis
counts unsecured notes Of the Indepun-
dent Cotton Oil COIC .rany to the amo lnt
of $50. lft, of whi2h said amount 80.
GOO of said notes had been r~ediscount-
ed We also find rotes secured by stock
Of the Independent Cotton Oil Company
and cf the Darlington Trust Company
amounting in the aggregate to $17,1in.
CT. which we coIsider doubtful also.
other doubtful notes amounting 20
about $4,000.
Real Estate. We have taken charge
of real estate Owned by the Daring
ton Trust Company and will proceed 10
collect rents upon the same as they
become due.
Accounts with banks. We have
checked over all .he statements of &C
counts with banks so far as we have
been able up TO this date to OBTAIN
such statements and We find them ap-
proXimately correct, there being sotns
adjustments to De made which MAKES
some alteration /" these accounts. Win
the following exceptions: While me
books of the Darlington Trust Compa-
nv snow a balance of SIS, O07. so, due ID
if by the National Bank of Commerce
of New York, that bank claims that the
| amount had been reduced to approx
| matelv So 1900, they having charg-
ed against the Darlington Trust
Company notes OF the lndepch-
| lent Cotton Oil Company to the amount
| of SIS, 900, for which charge they claim
| to hold orders from the late preslden:
of the Darlington Trust Company
Neither these noles nor the charge ar-
| pears in any wa upon the books OF the
| darlington Trust Company, but since
| this receivership the aforesaid nntes
| ~aggregating Sic, 1900, have been turned
! over to us and are now held by US n
| addition to the amounts above. we
| ere informed that the amour OF ouT
| credit in the Atlantic National Bank
| has been attached by the Third Nation
| al Bank of atlanta, Ga, and that the
smount 10 u credit in the Murchison
| National Bank OF Wilmington, aga;ns'
=, So 49,. N Rim Ofnn ITlSi
| Company, on certain notes redlscou1te
| by it and not paid at maturity
We lave not as yet beer aDle 10 oo'
| tain a statement of account from ne
! Merchants National Bank of R;1h-
| mond.
CanitaI Stock. We have looked over
| the list of subscriptions to the Capita
| stock and it appears that ne amount
! of 5000. 900 was duly subscribed. VI
| this amount there has been PAID the
| sum OF s109, 500 sixty per cent OF
| capital stock having been called Tor. Up
| on stock accounts there appears tn
he due upon this sixty per cent. ca
| the sum of S23 $50 and payments upon
| stock in excess Uf the sixty per cent
| call amount to $13, $50
Of the amount subscribed TO cap
| ital stock and not paid IN, we conslIer
| a large part of the same uncollectabie'
Deposits. We hnd due to deposi'ocs
| OF open account and on interest &C
| count the aggregate sum OF s4,2i6-9l
A number of these depositors arc ~
debted to the Darlington Trust CON
| pany on account of loans and also ue
account of unpaid subscriptions TO tha
| capital stock. OF the cue
| these depositors and applicable to lheir
Indebtedness to the Darlington 1'ust
| Company, there appears TO be a"u,
&c 900 which is applicable to loans ano
a email amount due upon sixty Per
ca,f call to the capital stock--Flo--
nee Times.
The pills that act as a tonic, u not
as a drastic purge, are De"ltIs Li.ue