The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1914-05-26
GEO. ALEXANDER
IS RELEASED ON
BOND OF s50,500
Head of Defunct Bank Ar
rested o: Three Charges.
Gives Bond
ASSIGNS HIS
PERSONAL ESTATE
Affairs of Bank Still in Tan
gled Shape, With Ac-
countants Probing

AS a climax to the closing of the
bank of George Alexander & Co., in
this city, last Tuesday, George Alex
ander, president of the defunct insti
tuition, was arrested Friday night on
three statutory warrants, sworn out
by Banking Commissioner Thomas
J. Smith.
One of the warrants charged Alex
ander with Incorporating the bank
funds, another with making false en-
tries and having made false entries
on the banks books, and in the THIRD
he is accused of having made false
returns to the State Banking Depart
ment.
Information secured from Bank Elk
aminer John B. Chenault and Deputy
Commissioner Rankin Revill, caused
Mr.. Smith to have the warrants is
sued. He came here. Friday. after
noon, and, after meeting with the di
rectors, decided upon that course
The warrants were sworn out before
County Judge c. A. Mcmillan anG
placed in the hands of Sheriff w. F
Talbot. Mr.. Alexander was placed
under arrest at his home on Pleasant
street, shortly after six o'clock
where he was held in the custody OF
. the officials until bond was arranged
which was shortly after 9 o'clock.
County Judge Mcmillan fixed the
bond at S50,500, 5000 on each of the
first two warrants and $500 on the
false statement charge. He was dis
charged from custody after the fol
lowing had signed his bond: A. HI
Hancock, Charlton Clay, o. H. Peddi
cord, Samuel Clay, John Virgins
Oscar Taylor, of New York; and
Catesby Spears. He appeared before
Judge Mcmillan at the court house
Friday evening and through his attor
neys, Talbot & Whitley, waived ex
am11Gtion and was held to the grand
jury, which will convene in this CITY
June s.
TIE people of the city and county
who Teposed their trust in George
Alexander Will sustain losses that will
aggregate more than a quarter million
dollars when the bank failed. There
has Deen no demonstration and in the
face of the apparent heavy losses,
they are not taking it uncomplain.
ingly.
There are seven directors of the
bank, including Alexander. They are
r. 3. Hutchcraft, E. P. Claybrook, ].
w. Bacon, w. w. Mitchell, j. M.
Brennan and Harry B. Clay. The
banks employees were o. L. Davis,
Cashier, and Joseph Mitchell. Mr..
Davis has been retained by the Bank
ing Commission to assist in straight
ening out the banks affairs.
Undue criticism has been heaped
upon the cashier of the institution for
accepting deposits on the day the
bank was closed. This, however, is
explained when it is positively known
that Mr.. Davis knew nothing of the
condition of the Nank other than that
which his boo:1a ,howcd. He has
been retained b. mixing Commits
sioner Smith and Ex .r1'1er Chenault.
He declares he knew nothing of sew
eral business transaction regarding
AleXander's private affairs.
The depositors and other creditors
OF the bank number approximately
one thousand, and notices were print
ed Saturday by direction of Special
Banking Commissioner Woodford and
John j. Williams, the latter
acting as attorney for the State.
The officers declare it will be sew
eral days before the exact conditions
are known, and as soon as possible
it will be given to the public. Fur
Their than this they will give out no
statement of the situation and de-
if any, will be very slow
until the books are gone over and all
of the affairs Strengthened out by the
There has been an inclination on
the part of many to criticise the direc-
tors, charging negligence, but there
is, according to reliable information,
no grounds for such accusations. One
Of the directors stated that the bank
examiners who would come twice a
year would examine the books in the
presence of the President and direc-
tors and make the report that the
affairs were straight.
Suits in large numbers are certain
to be instituted and scores have en-
ployed council and one local attorney
has amounts aggregating almost $780,
900 for collection.
The directors are good for every
dollar of the loss if it is held by the
courts that George Alexander, as
had their sanction to sign
the banks name to the thousands OF
dollars worth of notes he gave for
borrowed funds and to the loans he