The Forrest City times., 1913-08-08
BANK 0F FORREST CITY
 CLOSES ITS DOORS
Judge \. fl. Mann Appointed Receiver and Assisted By Expert Account ants is Now InVestigatiBg
 Bank 4TsiT<.
STATEMENTS MADE BY OFFICIALS
Believed by Many that Depesitors Will Be Paid in Full-Quiet Soon Res torea Other Banker
 Optimistic.

4 sad and deplorzble chapter in the business history ot Forrest City was written on Saturday chapter that. unless the wreck can oe saved from going to pieces Upon the rocks Of con- nerei2lism, to which end many strong and good men are now lzboring. wiIl be written In tears Of distress and grief for large number Of these who will suffer from the crash which resulted in the closing of the doors of an iE- stitution which its promoters, frienGs, patrons aud the public of S. Francis county has looked upon with q par donable degree of pride for the past eleven years.
 The news that the Bank Of Forrest City had closed it's doors came SC sud denly and 50 unexpectedly CD Sat1r- day morning that many could not be- iieve l., and men. eyeu after they had heard il, went to the door Of the bank, twisted the knob and pushed hard against the heavy panel Of glass. con- vlnced against their will. turned away dejected and s0Towiul, zs if from the tomb Of some dear friend or relative.
 IL vas sad blow 10 many. II vas disaster the Fl effects Of which. 10 this city and community. cannot be computed. IL was calamity as far reaching and biigbting in it's infu- ences as a scorchine and plague laden east wind, which left ali il touched either cringing with fear or shaken with anger.
 failure such as this not only hurts those who have trusted their earnings and their savings 10 the keeping of others, but hurts those also who have never been able 10 accumulate dime to lay away in the banks. It makes times tight for the lowly man or woul- an who must earn their daily bread by the sweat of their brows. as well as those who enjoy the ordinary com forts and still others who have all the iuKuries of life.
 IL was crushing blow for all. and one for which The Times cannot ex press its regret in word or thought. We have always, and still do. look up. on the officers and directors Of the Bank ot Forrest City as gentlemen of the highest integrity and honor, and we deeply deplofe this dire misfortune and barrassmeHt that has over taken them.
 Since the Bank of Forrest City sus- pended business Saturday morning aFg Yf~ t.
 mofs. There have been all sorts Of stories and criticisms afi3at At first the silence was deafenlng. and those ln a position To give out the news were reticeut and stern Since Mou- day morning statements have been flying thick and fast, and a regular poipouri of information has been dished up to The public through the press, from various sources.
 The deposits, at the time the bank closed, are said 10 have been about s200,00o. The cash on hand was about sl0,OO0 The capital, surplus and un- divided profits were Sl00 000 The bank has made no public statement since January IL was organized about eleven years ago
 Among the stock holders of the Bank Of Forrest City are numbered many Of the most thoroughly reliable and substantial citizens Of Eastern Arkan- sas, and the claim is made from au- thentic sources that the bank has an abundance of means To pay of all of it's indebtedness
 Just as soon as it was known that tne Bank ot Forrest City had closed Its doors, the question of the safety Of the county funds arose
 Dr. J. \. Shields, deputy county treasurer Of St. Francis county. said the Bank Of Palestine, C.. NJ Wilkin- son. president, was the legal depos- itory Of St. Francis county, and that the county treasurer'S office holds the Bank of Palestine's receipts for some thing like s95, GOO of the countys funds that have recently passed through that office, and that the treasurer 's office is in the clear Treasurer Tip ton could not be sound Saturday morn ing but his deputy said that Mr. I1pton was in no way involved by the failure
 Shortly after the doors Of the bank were closed, County Judge E. A. R0lfe, president of the Bank of For rest City, accompanied by his broth ar. Circuit Clerk F. D. Rolfe, of Cross county: Judge s. II. Mann and Judge R. ]. Williams, left this city in an automobile for Wynne, where an ap- plication for the appointment ot a receiver for the defnnct bank was made before Chancellor E. D. Robert son, which resulted in the appoint. ment of Judge Mann to that position.
 Judge Mann is member of the law firm of Mann Rollwage X Morrow, of this city, and Is one of the leading at torneys of Eastern Arkansas A bet ter man for the receivership could not have been chosen. He is gentleman in whom the public reposes implicit confidence, and is fitted in every way 10 discharge the duties of the receiy- ership in an unbiased, impartial and intelligenf manner and his annnint