Pine Bluff daily graphic., 1914-07-04
R. E.. Pugh Named as Spe- cial Commissioner to Han
 dle Bank of Pine Bluff.
CLOSING OF BANK
 CAUSES NO FURRY
Bank Officials Defer Making States ment, and State Officer Says He'll Have Nothing to Say Until He
 Completes Examination.

R. E. Pugh of Little Rock was appointed yesterday by State Bank Commissioner John M. Davis as special bank commissioner 'to assist il the liquidation of the Bank of Pine Bluff" the credentials read. MT. Pugh at once assumed charge of the Institution and was engaged until after midnight in going over the books of the bank which did not open for business yesterday. ~Mr. Puga stated to The Graphic last night that it may require week to thor cughly examine into the affairs of the institution, and until that was done he would have nothing to say regard int the banks condition.
 None of the officials of the bank male any public statement yester- day. It had been stated that a state ment would be issued yesterday, but it was thought better to await the compilation of a complete report by the state officer.
 Sherif Edgar Brewster, who is one of the largest depositors of the Bank ef Pine Bluff, expressed the convic- ton yesterday that full settlement will be made by the bank. MT. Brewster has about $141,000 of the state and county on deposit at the bank and he made a complete exami- nation of the assets of the institution. The sheriff seems confident that these assets are sufficient to enable the bank to make full settlement. The remainder of the monies collected Ill taxes, amounting to about $19O,0OO, is on deposit in other Pine Bluff banks MT. Brewster thinks the af- fairs of the Bank of Pine Bluff will be in such shape as to enable the in stitution to settle with him before the, money there is really needed. The only difference it may make is to mar a record MT. Brewster has made for being among the first tax collec- tors to disburse his funds. He has already disbursed $165Q00, having ad- vanced to the general revenue fund of the state, to the city and to school and road funds and drainage dis tricts. His final settlement may be delayed a few days.
 It was currently reported yesterday that the crisis at the bank was preciDi- tated by the need for an early settle ment with the sheriff. Efforts to raise money on collateral held by the insti- tuition proving unsuccessful, it was considered the wisest plan to close the institution.
 The closing of the bank caused lit. tie furry. That such action was ex- pected appeared to be the general atti- tude Instead of craRting excitement, the fact that the bank had closed ap- peared to terminate all conjecture and uncertainty. Those most interested felt that the worst had happened, and hoped for the best. There appears to be general optimism that full settle-
 ment will be made with all depositors. Deed Property to Bank. Following the crisis in the banks affairs, three instruments filed for record yesterday show that w. D.
 Hearn, former president, and now
 vice president, deed to JJS McDon- nell, president, as trustee, 1.008 acres of land said to compris the Hearndale farm, and the Hearn home at Main street and Martin avenue. The deed
 recites that it was passed for "$10 and