The Bourbon news., 1913-09-05
ASKS ASSIGNEE TO SUE
BOURBON FISCAL COURT TAKES
ACTION TO RECOVER THE
RECOVER AMOUNT LOST
IN BANK CRASH.
GRANT ASSIGNEE REASONABLE
TIME TO ACT UPON REQUEST
ATTORNEY BATTERTON INTRO
DUcES RESOLUTION WHICH
PASSES FISCAL BODY.


of stock held in the Citizens Bank of
Paris, which collapsed about two
years ago, the Bourbon Fiscal Court,
at it's regular meeting yesterday
passed resolution requesting Buck
ner Woodford, Sr., assignee of the de-
funct institution, to bring suit against
the President, directors and officers
The resolution was introduced to
the court by County Attorney George
Batterton on behalf of the court and
the fund which is intended to educate
the worthy young men of Bourbon
county. The court as trustee of the
Fund, held shares in the Citizens
Bank to the number of nineteen, the
par value of which was $1OO per
share. The stock, however, had ad-
vanced rapidly.
The resolution indicates that the
winding up of the affairs of the insti-
tuition would result in the stockhold-
erS receiving little or nothing of the
capital of the institution, and charge
that the financial affairs had been ne
elected. John J. Redmon and r. H.
Burris were appointed a committee to
deliver TO Buckner Woodford, ST., a
copy of the resolution, which is as fol-
lows:
Whereas, the Bourbon Fiscal
Court is Trustee under the will of
William Garth, and whereas, said Fis-
cal Court as such Trustee, had and
owned several shares of stock in the
Citizens Bank of Paris, Ky. and
whereas by a certain deed of trust
said bank made an assignment to
Buckner Woodford, Sr., of Paris, KY,
for the benefitof it's creditors, and
whereas but little, if anything will be
received by it's stockholders, and
whereas said Court as Trustee under
said will, believe that the President,
directors and officers of said Citizens
Bank were negligent in the manage
ment of the finances Of said bank,
and whereas said assignee has failed
to institute any suit against said Off
GERS of the Citizens Bank
Now therefore as trustees under
said will and as stockholders in said
bank this court hereby requests
Buckner Woodford, Sr., assignee of
the Citizens Bank, of Paris, KY, to
institute action against the President,
Directors and any other officers and
persons, negligent in the management
of the business affairs of said bank,
to recover from them the amount
due, or in other words, the value of
said stock owned by this court as
Trustee under the will of William
Garth.
1t is further ordered that John j.
Redmon and Roger Burris be and are
hereby appointed a committee to de-
tn
signee of the Citizens Bank, of Paris,
KY, a copy of these resolutions and
order and this committee is further
ordered to request that this suit be
instituted within a reasonable time,
from the time this request is made
known and to report to the court
what steps, if any, have been taken
by said assignee at the October meet
| ing of this court.
Squire L. J. Fretwell presided at
| the meeting yesterday in the absence
of Judge Denis Dundon with the fol
| lowing magistrates present: E. P,
Thomason, R. H. Burris, John J.
Redmon, B. F. Stipp, o. B. Lloyd
John N. Shropshire. The report OF
Road Supervisor G. F. Redmon fol
the month of August, was received
and ordered made of record anC
claims for work on the turnpikes o1
the county in the sum-ef, $2,809.5C
were ordered paid and accounts tC
the amount of $333.24 were allowed
Ordered that S. E. Bedford County
Treasurer, borrow the sum of $4,000
for the use of the turnpike fund an(
execute note for same payable~ Jan
IL, 1914, and bearing interest at the
rate of 6 per cent from date.
Miss Vella Mastin having decided
not to accept the $25 allowed her un
der the Hamilton Fund it is ordered
that the same be now paid as follows
To Elvira Smith, SIS; to Jessie M
Fee $40.
Ordered that the sum f$2,500 b,
appropriated for the use of the Roa'
Supervisor for repairs.
4 Ordered that the Treasurer of th'
Hamilton Fund pay to Miss JENNIE
Howard, the sum of $50 out of sai'
fund for services rendered.
Ordered that the further sum- o
500 be appropriated to build the
Roseberry turnpike.