Goldsboro weekly argus., 1914-03-26
The National Bank and the
Goldsboro Savings and
Trust Company are Both
Absolutely Unimpaired.
COMMUNITY CONFIDENCE UNSAAKEN
President Norwood Person
ally Makes All Shortage
Good
He IS A MAN IN A MILLION

Those who may think that journal
ism is all joy-if they think at all will
realize as they peruse this publication
that painful duties to the public some
times confront us that must be per-
formed.
It is not our purpose to mOralize
nor pen homily, but simply to make
an authoritative statement in regard
to the recent bank revelations here,
that are now the talk of the cOmmun
ity and the subject of enquiry through
out the State.
On February 3rd the State Bank
Examiner found the books of the Ma
tional Bank out of balance, and the
management at once employed an eX-
pert auditor to locate the trouble. H.
G.. Smith, who held clerical position
in the bank as book keeper, was found
responsible; he confessed and made
over cash and property to nearly
make the shortage good. Having pre-
vious1y been cashier of the Savings &
Trust Company, an investigation was
started by it's management and in
books formerly kept by H. G. Smith
about $5O,O0O.O0: an exact figure can
not yet be given.
Mr.. Geo. A. Norwood, the president
borrowed at once from his brothers
cash enough to make the shortage
good and deposited it in the Savings
Il Trust Company and guaranteed, in
case any further shortage was found
to deposit cash to cover it and to see
that every depositor was paid every
cent.
The bank continues business with
renewed energy, and to the credit OF
the people of Goldsboro, evidencing
their stable character, splendid mettle
and unapproachable public spirit, as
we'll as their confidence in and their
feal admiration for such manhood as
Geo. A Norwood has displayed in this
crisis, the said affair-that sorrows SO
many hearts and blights the lives of
those that should rather be shielded
and brightened-has, so far as affecting
the banking business of the city, beer
reduced to a mere incident, causing
no run on either bank, nor any shaking
of confidence in their financial sound
ness, nor readiness to meet any de-
mands made upon them.
The admirable, manly course pur-
sued by Mr.. Norwood in instantly set
ting to work to ferret out discrepan-
cies the moment the bank examiner
called SUSPICIOUS circumstances to his
attention; his prompt, open and un-
equivocal taking the public into his
confidence and bulletining the facts at
the bank door, including his personal
statement, which was taken at it's coin
value. that all shortages had been
made good, backed by kilograms from
his brothers and other banks tender
ing him hundreds of thousands OF
dollars, so thoroughly won public ad-
miration and northumberland even
increased public confidence till from
every lip the same spoken plaudit
CAME, as a tribute to his revealed
character and heroic sense of public
confidence and personal responsibility
George A Norwood is man in a
Million
Every man in Goldsboro is better
man today than he was yesterday be-
cause of this splendid lesson in man
hood evinced by Mr.. Norwood, chal-
Ienging the admiration of the com
munity, and this admiration is itself
uplifting and Strengthening. Every
observant boy in the town is the bene-
ficiary in that he will be influenced te
emulate and measure up to such {
man.
AS further assurance of safety tc
all concerned the following statemen
speaks for itself:
"The GoIdsboro savings & Trus
Company, has had a loss CT arount
$5O,0OOOO through defalcation OF =
G. Smith. The President, Mr.. Geo. A
Norwood, has deposited that amoun
to make good this loss and guarantee
every depositor against loss of on
cent of principal or interest.
.The bank will continue with re
neWed energy.
&C. A. NORWOOD
GEO. C. ROYALL,
M J. BEST,
LESLIE WE'LL,
F. B. EDMUNDSON,
w. T. YELvERTON,
e. L. EDMUNDSON,
GEO. e. CRABTREE,
Directors. .