The Birmingham age-herald., 1907-12-23
ATLANTA BANK IS
 OUT 0F BUSINESS State Bank Examiner Will Be
 Put In Charge ASSETS NOT IN GOOD SHAPE Clearing House Association Gives Out Statement Saying Bank Will Pay Out, But It Will Take Time to
 Settle Affairs.

Atlanta, December 22.-Following two days investigation of the affairs of the Neal bank, one of the largest state Repositories in Georgia. if was decided tonight to put tie affairs of the institution in the hands of the state bank examiner.
 F The Clearing House association issued this notice:
 TO the Public-After duly consider Ing the character of the assets and resources of the Neal bank, and investi- sating it's affairs as far as possible. Tor the purpose of extending to it such assistance as it's condition would war rant, we regret that We find the in- Nestments and loans of this bank are of such character that in our opinion they cannot be readily converted and therefore we do not feel warranted in rendering the assistance that it's pres ent necessities require.
 We believe that the interests of the depositors and creditors will be best conserved by allowing the bank to con vert its assets through the state of- heials as provided by law. We hope
 
 creditors and depositors will ultimate ly be paid.
 The Atlanta Clearing House associa- tion.
 Atlanta National bank.
 Lowry National bank. Fourth National bank
 Mabbox-Rucker Banking company.
 Third National bank.
 Central Bank and Trust corpora tion."
 With the issuance of the notice the directors of the bank, E. H. Thornton, W. F. Maury and H. c. Caldwell or- dered notice posted on the bank doors that it was in the hands of the state bank examiner
 The banks represented at the meet ing were the Atlanta National, Lowry National, Fourth National, Third Ma tional, Maddox Fucker Banking com pany and the Central Bank and Trust corporation.
 It was hoped, after the result of the delib eration of the Clearing House as- sociation on Saturday, when it became known that the Neal bank was in trou- ble, a plan would be devised at the meeting adjourned to today that would enable the bank to open by Monday.
 According to. the examination of the bank completed by the clearing house late today, the nominal assets exceed the liabilities by $500, 0,0OO but it was ascertained that extensive loans in Gu ban and Alabama properties had so far Appreciated as to bring these as- sets down to 1ow figure. A number of uncollectable notes were also dis. covered. The aggregate number of de- positors in the hank which did sav- ings as well as a regular banking busi- ness Is 5000, savings depositors alone having an aggregate of $7230oO. Sub feet Oth herwise to check was $S96, 900, while the demand and time certificate deposits aggregate $4S,000--a total of $2 ,067 ,000. It is the general belief ex- pressed by bankers that the depositors will be paid in full in time.
 The bank was capitalized at $100,000 and was considered one of the strong est in Atlanta. The state used the bank for a deposit of $100,000 but is pro tected by bond. No official statement as to the condition of the institution was issued by the state examiner to- night and none will De issued until after their work in going over It's af- fairs Is completed In the Neal bank were many small depositors, and 1t was they who gathered about the institu- tion Saturday when a report was spread that the bank was insolvci.f. What started. this run Is matter or speeula- tion vArious stories being affoat as to the refusal to pay check because 1t was irregular and of a difficulty in cashing exchange. The run immediate Iy resulted in the banks officers de- termination to investigate its affoirs and this was followed by request from the directors for the state to take charge.
 The report was spread tonight that Governor Smith would be asked to de- clare legal holiday Of week Do' cause of the fear that the trouble might precipitate other runs. This was denied by the governor to the Asso- ciated Press tonight He declared that every bank in Atlanta was solid.