Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1915-03-16
ASSETS OF BANK
Of Pine BLUFF
Bring S270,l4O
J. S. Mcdonnell and w. G..
Hudson Acquire Most of
the Offerings.
HANDLEY & DOWELL
BUY BANK BUILDING
Hearn Home Bid in by T.. X. Ashcraft
iUr xi1 HW-PurcIIaSeS OF McDUn-
nell and Hudson Provoke Specu-
tatiGn aS TO New Bank

3AssaF
sN'rhe assets of the Bank of Pine Bluff
were sold at public auction yesterday
by State Banking Commissioner John
IA. Eavis for an aggregate of $270, l4O.
J. s. Mcdonnell, former president of
the Bank of Pine Bluff. and W. G..
hudson. formerly cashier. were
among the purchasers.
The three-story bank building on
the northwest corner of Main and
Second was sold to G. G.. Handley and
T.. A. Howell for $4,000. while the
bank commissioner accepted the offer
of T. K. Ashcraft of ST. 900 for the
Hcarn residence property in Main
street, corner Martin avenue.
Talk Of New Bank.
The bidding in of the personal as
sets by Mr.. Mcdonnell and the pur-
chase Of other assets by him and by
Mr.. Hudson, as we'll as of the pur-
chase Of the old home property of w.
r.. Hearn by Mr.. Ashcraft, banker
of Altheimer, started speculation as
to whether the purchases were not
being made in contemplation Of the
establishment of another bank. No
information on this score was obtain
able.
! 1t was stated recently, however, that
in the event of the purchase of the
assets by a syndicate Of local men for
banking purposes national bang
| Mould be established. 1t is knosHl
7 also that a Chicago financicr was VI
the city and conferred with men WHO
were interested in the Bank Of Pine
Bluff. 1t was also stated that should
another bank be established by men
who were interested in the Bank O.
Pine Bluff that creditors of that in
sttitution would be paid in full.
it is estimated that the aggregate
for which the assets were sold yester,
day will be sufficient to pay ordinary
depositors another so per cent of theiI
claims, and to trust funds an addi
tional 70 per cent. Thirty per cent
has already been paid Judge J. NJ
Elliott. under whose order the sale
was made. has stated he would not ap-
prove the sale unless the assets
brought enough to pay a total to or
binary depositors of 80 per cent ant
100 per cent to trust funds.
1t is understood that Mr.. McDon
nell. former president OF the bank Of
Pine bluff, is ready to increase his
offers sufficiently to pay the amount
demanded by Judge Elliott if the bids
rendered yesterday are insufficient.
Buyers Of Real Estate.
In addition to the purchase OF tht
personal assets, Mr.. Mcdonnell bid II
the following real estate: Equity il
Hearndale farm, $4,000; equity in Pud
dephatt building in Main street, 50.
OOO 7O1 East Third, $1,000; $50 acre.
in Nebraska, $1,000: 1870 acres nea
Altheimer, $3.50; 80 acres near Red
field, $500.
Mr.. Hudson bid in the Greenfield
place of 800 acres for $4,000, a blocl
of ground near the McGehee-Smltl
Lumber company for $1,000
w. A. Kientz purchased two lot
near the Ohio Street Baptist churcl
for $500, and two lots in Hot Spring
fer 5000.
Mr.. Handley stated last night tina
he and Mr.. Howell had no definit
nlan in view when they purchased
the bank puilding;s that they bough
because they believed it good invest
ment