The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1908-01-17
DOORS ARE CLOSED
WESTERN BANK AND TRU ST
COMPANY'S AFFAIRS IN
HANDS OF ASSIGNEE.
APPEAL TO THE COURT
Three Depositors File Involuntary
Petition in Bankruptcy Against
Institution-Involye
Large Number.

I Dallas, Ie&aS, Jan. li,--AS a re-
suit of the continual drain on the
/ resources since the financial trou-
! bles began several months ago, the
/ Western Bank and Trust company
| failed to open its doors yesterday
| morning. Action OF this kind was
discussed at a meeting of the Dallas
! Clearing House association held
| Wednesday afternoon, but final de-
csion was not reached until after
! the situation had been thoroughly
canvassed at another session held
that night.
Henry D. Lindsey, who has been
named as assignee by the officers of
the bank, was asked if he had any
statement of any character to make.
! He said that outside of schedule
| filed there was nothing to give out,
! that every depositor of the bank
would be paid in full. OF course it
! will take some time to do this, as
some of the assets given in the
schedule are in such shape that it
will take time to realize on them.
The total liabilities of the institu-
tion as shown by the schedule filed
in the office of County Clerk CASTOR
/ are S1,O54,10453 The total assets
are not given in this schedule as the
| list had not been completed when
the paper was filed. There are more
than four thousand depositors with
the bank and there are very few
who have any large amounts on de-
posit
| According to the schedule filed
and the statement of Mr.. Lindsey
and others who have been connected
with the institution, this bank does
| not owe cent to any other bank in
this city and none of the other in
stitutions are affected by the assign
ment of the Western Bank and Trust
company.
Since the money tightness began
it is stated that more than SITS, 900
twas paid out by the bank to deposit
ors who had saving accounts in the
bank while about 100000 had been
withdrawn by those who had check
ing accounts at this bank. 1t was
ttated yesterday that the entire
private fortune of both Mr.. Flem-
ing and Mr.. Templeton had beer
pledged towards securing the de-
positors. Mr. Fleming's private es
tate, it is said, will amount to about
$750,000 gross and will bring a.
least 100000 net
BY the assignment filed with the
county clerk the Western Bank anC
Trust company shows it's assets t6
be $1,054, 4,104.53. In the assignment
it is stated that there are 4,613 say
ings deposit accounts, aggregatinf
s366,624.64, and that the average
balance Of all savings deposits IL
$79.40.
| Among the larger depositors are
International Text Book company
(pay rollD, $3432.17; Interstate
Amusement company st. Louis
l$1251; l. Jalonick, general agent
$22O4.12; Park Hotel, $1,302.11;
Postal Telegraph-Cable company
| $1,000; Trinity Valley Trust com
pany, s2531.69.
There are, of course, many depos
itors mentioned, but all of the
amounts are under the figures give1
above.
In the itemized statement, the to
tai of bills receivable is given a
$503,797.69, in which amount is in
cluded several overdrafts and notes
of various character. Among tht
larger of these are mentioned:
| Realty Loan and Investment com
pany (seyeral items), total $122,00t
M. Grossman ct al, s9500; D. A
Templeton, overdraft and notes
(three loans) $4,000; Trinit,
Valley Trust company $4,000 Hous
ton White Brick company (twt
items). $4,000; F. S. Thompson
$4,000; w. c. Witwer and others
l$10,700; American Railway ant