The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-12-23
NEAL BANKING
COMP ANY CLOSES
One of Largest State Deposi.
tories in Georgia in Hands
Of Examiners.

ATLANTA, GA, December o2.-Fol-
lowing two days investigation OF the
affairs of the Neal Banking Company,
ono OF the largest State repositories in
Georgia. it was decided Tonight to
put the affairs of the institution in the
hands of the State Bank Examiner.
The clearinghouse Association issued
this notice:
TO the pubic-After duly consider
ing the character OF the Assets and
resources of the Neal Bank. and in
vestigating its affairs as far as pos
siblc. for the purpose Of extending to
| 1t such assistance as its condition
| would warrant, We regret that we find
| the investments and loans of this bank
| are of such character that In our opin.
ion they cannot be readily converted,
and therefore We do not feel warranted
in rendering the assistance that Is
present necessities require.
We believe that the interests of thu
dcpositors and creditors viii be best
conserved by allowing the bank to
convert its assets through the state
officials, as provided by law. We hope
that by the adoption of this course
creditors and dcpositors vii, ultimately
be paid.
Tho Atlanta Clearing House Associa-
ton. Atlanta National Bank. Lowry
Bank, Maddox Rucker Banking
Company, Central Bank and Trust
Corporation.
W!til tho issuance OF the notice the
directors of the bank. T. FL Thorn. w.
Z. Maury and II. c. Caldwell. ordered
a notice posted on the bank doors that
it was in the hands of the State Bank
Examiner.
The banks which were represent
ed at the meeting We're the Atlanta Ma
tional. Lowry National, Fourth Ma
tional Third National, Maddox Rucker
Banking Company and the Central
Bank and Trust Corporation.
1t was hoped, as the result of the
delibcration of the Clearing House AS
ISOLATION on Saturday. when 1t be-
came known that the Neal Bank was in
trouble plan would be devised AT tn:
meeting to-day which would enable the
bank to open Monday
VIII Pay in Time.
According to the examination OF the bank.
completed by the clearinghouse late to-
day, the nominal asets exceed the liabilities
III, about 100000, bu, it was ascertane,l
tint extensive loans in Cuban and Alabama
properties had so far deprecated as to bring
these assets down to a low figure. y num-
her Of uncollec,ibe notes We're also discov-
eied The aggregate number OF depositors
in the bank, which did u savings as well
as regular banking business, Is 5000,
savings deposltors alone having an aggre-
! safe OF s,?S,ooo.
subject otherwise to check was $4,000.
while the demand and lime certificate
! DEPOSITS aggregate siis.ooo; total OF
! sa,0C7 900.
| !; is the general belief expressed ny
| iul In time, The bank Was capitalized at
| 100000, and was considered one of the
strongest in Atlanta
state Is Protected.
lhe state used the bank for a deposit u!
4 100000, but is protected by bonds. M
OFFICIAL statement as to the condition of the
4 institution was issued by the State exam
4 inors Tonight and mono viii be until after
their work in going over It's affairs is com
Iplotcd.
| liz The Neal Bank were many small do.
tpositors. and it was they Who gnthcrcr
/ al out the institution Saturday when a re.
] pn,t was spread that the bank was in
!soitent Various statements were aflont as
! 10 inc refusal to pay u check because !.
was irregular and difficult to get exchange
] The run immediately resulted The bnne
iaiis, and this was followed by a reo,es
from the directors for the state To tax
\ charge, M
! The rerort was spread tonight chat COY.
I nrnor smith would he asked 70 declare 4
issai holiday Of q week, because of tho fe,,
ma the trouble might preoipitate othc,
runs. rms WAS denied by the Governor "a
we Assoclaiei Press fortnight. lie said u,
/ sclid. ~