The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1905-05-30


Of the doors of the Canton State bank
has subsided, and the feeling of the de-
positors, stockholders and creditors is
that the only thing now to do is to
turn the affairs over to competent par
ties who can be trusted and liquidate
affairs as economically and quickly as
possible.
The plans OF the stockholders and
creditors for the continuing of the
business of the bank had to be given
up when it was discovered that w. l..
Davis had large obligations outside of
his Indebtedness to the bank, and that
these outside creditors will, of course,
share in the property that was turned
over to the bank some days ago. 1t is
thought that Davis Indebtedness aside
from that of some of the companies IN
which he is interested will reach be-
tween 100000 and 100000.
The great majority of the stockhold-
ers seem to be willing to do all that
they can to protect the depositors, and
1t is expected that the greater number
will promptly pay the 40 per cent on
their shares of stock, thus bringing
quite sum to the relief of the bank
1t is not expected, however, that any
thing can be realized upon the stock
Of Davis and Bachtel. The former is
the heaviest stockholder, having sos
shares, while Bachtel has 400.
MINERAL CITY FAILURE.
The Mineral City bank, in which Da-
Wis was heavy stockholder, closed its
doors Thursday morning to prevent a
run. Its condition is being investi-
gated and no definite news as to its
solvency can be secured until the in
spection is completed The bank was
started by Alfred Davis, now deceased,
the father of w. L. Davis. The bank
has capital stock of $4,000 and it is
said that Davis has borrowed sums ag-
gregating $4,000, to secure which |
there are some collaterals, the real |
value of which cannot be ascertained. |
The depositors are quite numerous, |
and there is great deal of excitement |
in the village.
lf1h I'll Is SAFE.
The city of Canton will not lose
anything at the hands of the State
tank. Treasurer Bidwell, who is i'll in
a Cleveland hospital, will be at home
Sunday, it is thought. The city is pro-
tected by bond of 100000 given by
the Bankers Surety Co. of Cleveland,
and the records show that the council
had not at any time created a depos-
itory for the city funds, but on the
ether hand the Surety company had
given its consent to Treasurer Bidwell
10 deposit money with the State bank,
and also seven other banks of Canton.
The State bank held the largest !,
amount.
The directors of the State bank had ,,
a meeting last evening and decided to ,
submit proposition to the creditors.
Ii is thought that the affairs of the in
stitution can be better subserved by ,
the appointment of competent persons !
TO close up the affairs, rather than go ,
through the expense of bankruptcy. A }
resolution was adopted which will be \
submitted to all interested parties for |
approval. !
The stockholders of the Canton State I
bank include many of the substantial
citizens of this city. From the rec {
ords at the auditors Office the News ]
has secured the complete list of stock 4
holders, with the amount of stock, ]
which is published below. There are j
N all 5000 shares, each share having
face value of $50, upon which $50 has
been paid. The list follows
Shares
John l. Altman. Canton 4