The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-27
STATE EXAMINER
ADJUST BOOKS
Will Take Hand in 'rangle
Caused by Suicide Of Bank
Cashier.
NEW CLUB TO BE ORGANIZED
Bust Of Late Adjutant-G cneral
Leinster TO Be Presented
to State.
Especial TO The Times Dispatch.

.
Raleigh. y. G., May 2s.-State Bank
Examiner j. K Doughton has gone to
Columbia to take a hand in the ad-
justment OF the tnngle in the affairs
or the Merchants ami Farmers Bank,
the cashier of which. X NJ. Spruill, took
his own life Tuesday, when q special
auditor procured by the directors went
into the bank to make an examination
l. was only few weeks ago that
Examiner Doughton was there and
went thoroughly into the books and
papers and made demands upon the
bank management for changes in the
woy of Improvement of many securities
and more up-to-date condition Of the
books The Corporation Commission
has had no further word from tho
bank since the announcement from tho
president that the cashier had COM
mitted suicide. and that a special
auditor was adjusting the books. Ono
of the most serious conditions that the
bank examiner found is understood to
have been unsecured notes for consid-
cradle amounts by parties whose s'y-
natures have no commercial rating
There vas charter issued to-day
for the Eagle printing Company. SPRAY
y. G.. capital, $4,000 authorized. and
$4,000 subscribed By a. c. Phelps G.
=. Wall and others Another c.arter
for the Panacea Springs Com
pany. of Littleton. capital, slo5,oo0. by
NJ. c. Braswell and others.
Wins Gold Medal.
Cary ]. Hunter. Jr., has won the
goid medal for Raleigh High School
students as the best debater. given by
Charles u. Harris OF this city. The
debate was held last night the query
beng: Resolved. That the Open Shop
Is Beneficial to the working Man" The
judges were Rev. V. ", McWhite. Dir.
Henry Jerome Stockard and DR.. Thos.
y. Harrison. The medal was presented
this morning in connection with the
graduating exercises for the schooi.
There are twenty one graduates.
The business men of Raleigh in
mass citing last night determined
to proceed with the formation of a
new commercial club. to take the place
nf the Chamber OF Commerce. the mem
hership of which had dwindled to the
point that reorganiza ton and infusion
OF new life was necessary. Mayor
Johnson presided, and l25 men present
gave their names for charter member
ship in the club. 4 committee was
ma med to make canvass for charter
members. and a resolution adopted that
charter membership must reach 500
before MIA tlDn. he
was subject to the call OF Mayor John
son. Dues are to be from IS to 500
annually. Organization is expected to
be perfected by June /.
Skyhcrnper for Raleigh.
Prep arations are on foot for the
erection of splendid tens story bank
building By Citizens National Bank
on the site OF Its present building and
additional ground recently purchased.
The building Is to be thirtyfive feet
by eighty feet. and is to be practically
FIRE proof. The bank has leased a
temporary banking house on Fayette
Vile Street
Colonel j. Bryan Grimes. as chair
man of the North Carolina Historical
Commission. and AdIutant- General r.
L. Leinster. announce the decision to
make the memorial to the lamented j.
F. Armfield, adjutant general of the
North Carolina National Guard. q mar
bic bust of this gallant officer. The
members OF the North Carolina Guard
Association were canvassed as to their
preference. and the bust was the al
most unanimous choice. This will be
the first bust of the kind provided for
the Hall of History. which is to very
greatly extend its scope and improve
its arrangement a soon as it's new
quarters are available, in the proposed
fire-proof State administration build
Ing