The Birmingham age-herald., 1917-03-11
BIRMINGHAM CLEARING
 HOUSE RESENTS RUMORS
 ON TRADERS NATIONAL
Bank Officials of Birmingham Issue Statement Tetyng to Absolute Soundness of Traders NaonaRecent Theft of $7500 Responsible for Rumors Put in Circulation.
 Other Birmingham Banks Stand Soidly Behind
 Traders National With All Their Resources

The following statements were is sued last night:
 "On the 26th day of January, last, the Traders National bank suffered comparatively small theft, an earlier disclosure of which we have felt might defeat our efforts to establish the guilt of the guilty party or parties and we have, therefore, kept it to our selves. Recently some knowledge of the theft has gotten out and rumors have arisen, emanating, it may be, from the guilty party or parties, to the effect that the bank was not in good condition. Our depositors quite generally have refused to credit these rumors and we are fully warranted in the belief that the character of the institution is too well established to be seriously affected, for the strongest criticism we believe ever made of this bank has been that 1t was too conservative
 "The facts are that the theft was $750O, covered by a surety bond for $50,0O0, and that no other loss of any character has been sustained Imme diately after the theft the bank had a complete detailed audit made by Messrs F. Hopkinson Smith and Charles H. Abbott. who are certified public accountants of the highest standing This audit showed that the real condition of the bank was cor rectly shown by it's books.
 '.Furthermore in order to dispel any rt of n11r dpn0SitOrS. we have today invited the clearing house banks of Birmingham to make an examination into our affairs. These banks, through their executive repre- sentatives. have compiled with this re quest and their report is also at- tached. And we have also made a statement of the condition of the bank, under oath. which appears herewith. These several matters together supply the fullest possible information of the condition of the bank and conclusive lv show that it is perfectly sound.
 eff there be any depositor, however small. who desires further information, we will be obliged to him for the op- portunity to supply it; and if any of our depositors want their money, it is here for them.
 For the arrest ana cOnVlcIOn ol the person or persons guilty of ma liciously circulating false rumors and charges concerning the condition of the Traders National bank we offer a reward of 5000.
 | JOHN IT. FRYE. President.
 JOHN H. MILLER,
 FRANK NELSON. JR.,
 "C. s. RESELL.
 SHELBY P. KING.
 s.RICHARD w. MASSEY,
 'E E. MDAvID.
 "STERLING J. FOSTER, w. H. DURAN.
 "A LEO OBERDORFER, CIVILIAN P. REDO, .+ "Directors" "The undersigned member banks oi | the Birmingham clearing house. here by certify that we have today, at the request of the Traders National bank examined it's receiyables and securities and canvassed it's general condition And we further certify that we are o1 l the opinion that the Traders Nationa bank is entirely solvent, fully able t |. promptly meet it's obligations, conser. vatively managed. and in every wa, worthy of the confidence of it's GUS toner's
 "It is our deliberate Judgment afte, making the examination above men l tioned that any rumors derogatory O | the soundness of the Traders Nationa bank are wholly unwarranted ant | positively unjust.
 l "We, therefore. stand ready with ou 1 resources to render the Traders Ma l tional bank any assistance 1t may de sire. Assistance has not been aske' l