The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1913-04-15
Not Verified But ATTORNEY
Came to Select Local
Counsel
MAKES LAST OF OFFICERS
Certain That Nice-President of
states Trust Company Will
= Come Here to Be Tried

Attorney General I. W. Beckett yes
t-rday received a telegram apprlsing
him of the oncoming of Attorney
Pierce with w. O. Tarver, who was
To- have surrendered himself to the
local authorities.
Nr. Pierce came, but Mr.. Tarver did
not. An uncontirmed story is that
t'arver was taken at Augusta, and will
lie here this week. Mr.. Pierce, whose
brief visit was understood to have
been for the purpose of securing local
counsel to appear for Mr.. Tarver. re-
turned IN the afternoon. and was seen
v, none Of the newspaper men.
II the story is true that Tarver, the
Wee president Of the States Trust
company, Is under arrest, this gives
the State possession Of the whole
States outfit, and makes certain that
all will he here April 21 when the
trial comes off. 1t will be q notable
hearing. Besides appearing as de-
PENDANTS in a court charging them
with violation Of the North Carolina
banking laws, other indictments are
expected, and there is little doubt that
one of the biggest legal fights in North
carolina in many years will be this
Oh', u AK OSicuudutS EKu H.. ldTVcTs IS
arrest makes the last Of the States
Trust Company. Smith and Bowlds,
president and secretary-treasurer, be-
ing in custody.
The corporation commission con-
'inues TO hear complaints from all
sections Of the State n last night
came another story from New Bern
telling how three thousand dollars
more had been sold in stock to peo-
ole OF Cartaret county. Though
E~ngeihard, Hyde county, reported
about six Thousand dollars sold in
stock there, another section of Hyde
makes outcry to the tune of $4,000
and there are apparently other pre-
"incts TO be heard from.
Thus far. about twelve sections have
been heard from in which promoters
of banks have worked the territory
and sold stock ranging from $1,000
in cash to $4,000. In several places
q considerable amount of good paper
mas been discounted and the losses
have run nearly to $4,000. If one
half of the notes have been dis
counted. the figures will greatly ex-
coed this.
How 1t Worked.
The State Trust company started
business under a formidable nj me
1t sounds as substantial as STANDARD
iii and AS conservative as the Han
over National. 1t is AS patriotic a
oid Glory, but on the first show
down. the secretary-treasurer lies il
>upine impOtency in the city prisOl
and the granite structure" Of Will
nington sneaks into a lonesome al
ley.
yesterday morning, one week age
Z. H.. BOwldS. the fearless membe
of the mysterious corporation, 500
fore the State Corporation Commits
sion and offered to submit a financia
statement showing that his compan
mad $4,000 in assets. The commits
sion isn't certain whet her the 500
600 was in "asses" or assets, but re
calls the figures as relating to prov
erty. The company may have j
certainly Mr.. Bowlds hasn't it.
Abou four months ago there can
INTO the State three men who had hs
eAperience in promoting questionab
NEUTRALITY-SUSPICIOUS. H.. Smith, Of Bi
mingham, Ala: Tarver, Of August
IA, and c.. II. BOwlds, of Fairfa
;. e. Their plans we're shrewd
made, and took into account a fl
knowledge of conditions and ami
tions Of the rural communities al
small towns. as we'll as some know
edge of the ways OF high finance.
They invested $50 in a charter, 2
III a supply Of Autographed statione
and typewriters rented obscure qua
ters III the third floor Of a building
Wilmington, where they put out n
50 much AS a name plate on the doc
and they were ready to inaugura
their campaign. Without further re
concentrations or guarantee than IL
their special agents were sent o
asking that the people turn over tn
surplus funds to h States TT,
company to handle and invest
them. And they were succeeding
a rate that would easily have piled
for them a half million dollars II tn
had been permitted to operate
November first.
Not q Banker.
Please understan nd that the Sta