The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1905-12-13

refer loaned and re-loaned. s,yr-
pose not less than s., 600, 600, and never
made dollar of bad debts. and paid ~
the stockholders an annual dividend o.
per cent. on 100000 when the active
and working capital of the bank was
only about enc half of that amount.
When ! took charge of the bank
found several thousand dollars of doubt.
ful debts, and such notes as I did not eoI-
lect, had we'll secured, and frequently
had to go to the country and other
counties for that purpose, and when
turning the assets of the bank over TO my
successor, with the single exception OF
one small note which l had nothing to
do in creating, every note was worth 100
cents to the dollar, and could have been
collected by law, and was collected.
No bank in Kentucky could have
shown better set of notes. succeeded
in making it as it is now, one Of the best.
and most substantial and prosperous
banking institutions in this part of the
State, and by way of approaching the
valuable services l had performed, the
bank plead the Limitation and was there
by relieved of the payment Of an honest
! debt which It created by fraud, and not
withstanding was then and am now,
stockholder in the bank, was denied
the privilege of having access to the
books of the bank for inspection and
examination, which was so important for
me to have in preparing my defense in
the many suits that have been instituted
against ME by those to whom had sold
the stock
AS agent of J. Taylor Day, who has
been an invalid for several years and
unable to transact any business, l am
now prosecuting a suit against the bank
to recover over 5000 with interest
thereon from December goth, 1902.
which he had to pay on judgments in fay-
or OF those to whom had sold his stock
purchased from the bank. l have been
pressing the case for trial ever since its
institution but il has been continued
from court to court for l., years, but
never at any time at the cost of the
plaintiff.
The bank for defense puts in its favorits
plea OF limitation, and relies for success
solely upon that plea alone, but before it
can be available it must be shown that
Mr.. Day knew all about the rotten coz
dition of the bank for several months
before it was known to the public or to
any of the officers of the bank.
The largest stakeholder in the bank is
wealthy gentleman now residing in the
City of New York, who owns I6I shares
nearly one-third of the bank. OF this
stock he purchased from me as the agent
of w. o. Mize, IL shares, and from the
cashier of the bank as an agent for another
party rs shares of the old stock in which
1 had no interest whatever, either as
agent or otherwise.
- Fl'eaashiev of the 30 haYigfr died ia
the meantime leavin hspecfion and I
being the Presideny men tbirx and
solvent, he had suits '---'''-.
me for the IS shares asS,2y 1avor-
II shares to recover damagA
in the depreciation of the w.t. of
stock, and what was very rem
recovered Judgment in each y
amounting to sI,9e3.ss, which am
paid to his attorneys.
Now, upon principles Of justice,
not right that the gentleman from
York as a stock holder in the ba
should pay back prorata the amount
received as an individual?
I, as the agent of J. T. Day, sold 20
shares of his stock to M. S. Tyler, as
agent, a distinguished lawyer, who had
been the attorney for the bank for many
years, and before I was connected with
it. He was also stakeholder and di-
rector i'll the bank, and for several years
was secretary to the Board of Directors
and while l was President he attended
and participated in rs of the meetings,
keeping its records, drawing up and at
esting its orders, ordinNpces and other
as shown by fs minute ard
memorandum book on pagesNIo m 50 to
I3e Inclusive, to which 1 r4r. His
name was attached to the faA and
reports of the banks con AItiou
which was published and circula I'd.
His experience in the bank and his -
,ilities for getting information as to
rue condition was equal, if not superior
o that of any other officer of the bank.
Yet because failed to tell him that
which was unknown to me at the time
hat the bank was insolvent-he sued
ne and Mr.. Day jointly, and what was
till more remarkable, recovered judg-
nent amounting to SI477.Io which was
'aid by said Day, and the suit pending
gainst the bank is for the purpose of
ecovering back this amount and other
judgments he has had TO pay.
allude to these matters in detail for
he purpose of showing the injustice
which has been melted out to me as well