Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1913-12-19
DEPOsITORs FIRST NATcHEz BANK.

OF the First NatcheZ Bank, held re-
Gently, a COMMITTEE composed Of
Messrs. L. A. Benoist, L. T. Ken.
nedy, f. w. Blankenstein, Gus B.
Grover, and Frank J. Duffy, all de
positOrs in the defunct bank and
prominent citizens of Natchez, was
appointed to arrange for a general
meeting of the depositors to take
into consideration the affairs of the
bank and devise some means of liq-
nidating its affairs to the best inter-
est of all concerned.
This committee has called a gen.
eral meeting of depositors to convene
on Monday, December 20, in Nat
chez. The plan of liquidation is as
follows:
A prominent citizen of Natchez,
generally understood to be Mr.. ]. N.
Carpenter, suggests the formation
OF State or National Bank with a
capital of 100000, which shall be
selected as trustee and liquidator of
OF the First Natchez Bank. "This
new bank to Immediately take up
or purchase at the lowest price pos
sible, for the benefit of the deposi-
tors OF the First Natchez Bank, all
outstanding bills payable, except
Southern Banking& Investment Co.
so as to bring back into the portfolio
OF the bank all securities.
Said hquidators to issue to each
depositor Of the First Natchez Bank
a certificate for the full amount of
The deposit or claim against the as
sets OF said bank, which certificate
will be negotiable, but will only be
good for the net amount finally real
lied from the assets of the First Nat
chez Bank.
Said Bank will agree to imme-
diately loan 20 per cent against the
par value of said certificate, at the
rate OF 8 per cent per annum, the
certificates to be put up as collateral
but it will be at the discretion of
the bank to make single loans in ex-
cess OF $500. The main object of
this proposition is to give some re-
lief to such depositors who have no
other resources.
The Bank is to receive for its SER
vices as hquidators either a fixed
salary or a percentage of all collec-
tions.
The Depositors of the First Nat
chez Bank are to elect seven direct
ors, who will have full authority
to represent them in all matters con-
nected with the liquidation of the
bank and to order TIE distribution
OF funds. 1t will require a majority
OF said Board of Directors to approve
any offer of compromise or sales of
property or other matters of import
ance which may be placed before
the liquidators. For the purpose of
electing these seven directors notice
will be given every depositor to at
tend the meeting in person or by
proxy"
The committee of depositors above
named has sent out a circular letter
to all depositors which reads as fol-
lows:
To the Depositors of the First Natchez
Bank:
At recent meeting of large number
OF the depositors Of the First Natchez
Bank the undersigned committee was Sc
lected to make arrangements and call a
meeting OF the creditors and depositors
Tor the purpose OF electing board OF d.
rectors and discussing some manner Of
economical liquidation along the lines OF
OF the enclosed plan. This meeting will
be held in the Court House at Natchez,
Miss, on Monday, the Goth day of De-
cember 1918, at 7 o'clock p. M. and all
creditors and depositors are urged to be
present in order that they may under
stand the plan and offer any suggestions
or amendments that might aid in the de-
tails. II you are unable to attend this
meeting in person, you will please I'll
out the form below directing the same !
to any member OF the committee or 9TH
Pr person who will attend and cast your ,
vote, and mail it Immediately.
Yours respectfully,
J.. A. BEN01ST,
l.. 7. KENNEDY, :,
+. w. BLANKENSTEIN,
FRANK j. DUFFY
GTTG nDnNTED a