The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1908-04-29
TWO BANKS FAIL
At GREENSBORO
Poor Business Caused
Them to Close.
THEY HOPE TO RESUME SOON
DaviesS County Deposit Bank
and OwensbOrO Savings
Bank the Ones.

Pending a series of conferences of
the stockholders of the Owensboro
Savings Bank and Trust Company
and the Daviess County Deposit Bank
and Trust Company, both of the insti-
tutions have suspended cash payments
and are refusing to accept any more
deposits. A run was started on the
Greensboro Savings Bank several days
ago and while that was checked. the
officials feared a repetition of the
run would bring about a condition tha
would be injurious not only to the
stockholders but TO the depositors
as we'll. The officials of the Davies
County Deposit Bank give poor col
lections as the cause of their action.
Both President Parrish of the Ow-
ensboro Savings Bank and President
T. S. Anderson Of the Daviess Coun-
ty Bank declare that reorganizations
will be effected in few days, and in
sist their banks will soon be open for
business.
The Greensboro Savings Bank has
a capital stock of 100000 with der
posits according to the last statements
OF $1,OSS,S3S, while the Daviess Coun-
ty Bank has a capital of $4,000 with
5000 900 deposits. The former bank
is the third Oldest financial institu-
ton in Owensboro and was organic
ed in 1871 t.y T. S. Anderson, now
president OF the Dayiess County Bank
Mr.. Parrish, who is a native OF Bull
lit county, took charge of the insti-
tution's affairs in 1900, though he
has been associated with it since
1884.
The officials of both institutions
make the claim that the depositors
will lose practically nothing.
T. A. Pedley was appointed re-
csiver of the greensboro Savings
Bank and Trust company by the cir
cult court Saturday, in the proceed
ings against that institution by the
commonwealth, on relation Of Ben
L. Bruner, Secretary of State. MI
merous expressions from stockhold-
ers and depositors Indicate that sat
isfaction with Mr.. Pedley's appoint
ment Is general. He has the unqual-
flied confidence of the people of the
county, both as to his ability as a
banker and as to his integrity.
A stiff fight was made by James
H. Parrish, presidens. of the bank
TO prevent the appointment of Mr.
Pedley as receiver and, failing in
that a motion was made 10 have some
one else appointed with him as joint
receiver.
Judge Birkhead, in ruling on the
motion, said an objection TO two
receiveis was the fact that the eX-
pense would be heavier than with
one. "The sale of land" he said
would be a matter for the court to
decide. The receiver will consult
with the court on all matters of i'm
portance." The judge, himself,
wrote out both the order and the
bond, fixing the amount at 100000,
the largest legal bond ever required
in Davies county. 1t was signed by
Mr.. Pedley as principal, and he Amer
lean Surety Company, by Sweeney
Bros, agents, and C. M. finn, resi-
dent attorney, as surety.
Several stockholders of the bank
were interviewed Saturday after
noon, and they expressed themselves
as being pleased with the appoint
ment OF Mr.. Fvdley. Said one stock
holder: Mr.. Peley is the most
competent man in Daviess County to
have charge of the bank in its
present condition. 1t needs a man
of his ability to look into the af-
fairs"
Greensboro bankers and attorneys
are almost unanimous in their ap-
proval of the action of Judge Birk-
head in naming Mr.. Pedley receiver.
1t is said quite a number of Ohio
county people had money deposited
in these banks.