Omaha daily bee., 1916-05-17
PECULIAR WAY
OF DOING THINGS
IN DECATUR BANK
Patrons Not Sure Whether They
We're Placing a Deposit or
Making Personal Lean
to Cashier.
SEVERAL QUEER EXPERIENCES
Question Now Of Stockholders
Double Liability and Ability
to Pay Up.
FAILURE TALK OF THE TOWN

% AfIOll aldIl NOII IespOiutHLJ
Decatur, Neb., May l6-(Special)
While some favored depositors in
the now closed Farmers State Bank
OF Decatur were gettinng ) and even
. per cent on their money, others
seem to have had a hard thine to get
their deposits even entered on the
books. There were those who
claim 10 have deposited substantial
sums with the bank, and on failing
TO take a deposit slip as receipt
found had trouble 10 convince
Cashier John L. Elliott that they had
anything coming 10 them.
From one Matthew Tyndall OF
Thurston county Elliott received
$500 at the bank Later when
Tyndall wanted to draw some OF the
money, Cashier Elliott claimed this
was a personal loan and no record
Of TyndalPs deposit was found on
the books Of the bank Tyudall,
however, pressed his claim, and is
said to have received back from FL
lott in all some Sl,l00 Of the $500
he handed over TO him.
Deposit Appears as Note.
Mrs. Lizzie Edwards Davis Of De-
eatur thought she deposited $1,000 in
Elliotfs bank. Elliott admitted
having received the money, but
claimed il was a personal loan to
him for five years at 5 per cent in
terest. This item, however, now
appears as a $500 note due the
bank from Lizzie Edwards Davis
and is one of the muddles the State
Banking Board will have to
straighten out, to determine whether
Mrs. Davis owes the bank or whether
Elliott owes her $1,000 and interest.
Mrs. viii Ebert left $500 with
Cashier Elliott at tn bank. She
accepted his verbal statement, in
stead Of a receipt or deposit slip.
Latsr she was told this is not safe
way to deposit money, and that one
should always have receipt, a cer-
tificatc Of deposit, pass book or
some other kind OF written document
10 prove the deposit When she de-
manded her money or a certificate
she was informed there was no credit
on the books for her.
Becoming somewhat alarmed she
now appealed to substantial friend
for advice. The friend accompanied
her, and together they went TO the
Elliott home. Here they presented
their demand so vigorously that the
$l,500 was returned in cash to Mrs.
Ebert.
Stockholders Are Worried.
II is accounts like these that are
keeping the state banh examiners
busy in an effort to untangle mat
ters. Meanwhile there is whisper
ing among the stockholders, who,
under the double liability law, may
have to make good for the bank by
sacrificing their capital stock plus
an equal amount OF cash besides.
There is much talk in Decatur as
to which of the stockholders are
good for the double liability. and
which are not. Meantime, one or
tv,o Of the shareholders have been
reported as saying flatly they will
not pay the double liability. OF
course, they have never had exper-
ience with bank failures and with
the state law that governs tn subse-
quent activities OF shareholders in a
delunet bank
Some Stockholders Insolvent.
Mental inventories are being taken
Of the solvcncy of tho various stock
holders in this locality Elliott, the
principal stoekholder is, of course,
looked upon as one from whom lit
tic VI anything IN IN shap Of double
Liability could be eXactcd.
d.. b. Watson, who became presi-
dnt, upon th resignation OF H. ID.
Byram, is lookd upon as a man who
could make good his share. certainly
with III help Of his father. who is
also in good financial circumstances.
Fl, ID. Byrsm. til former president.
Is said 10 be fully responsible. and
so are most, If uot an oi the others.
especially ii they have help from
wcll-to-do relatives,
All ot the good ones together.
though own iss than halt the stock
and ii they were AN good lt is stlll
probable che deficit wauId make
tair aiStd hole ln die guarantee fund