The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1920-10-15
WILLIAMS SHORT.
| age WILL Be MORE
| Than $4,000
Receiver Is Appointed For Ripley
Building Association When Short.
age of Secretary Is Found to Be
Many Thousand Dollars.

Georgetown Ohio. October Is. =
Drastic actions were taken in the
Common Pleas Court Tuesday after
noon. following the report made by the
state examiners relative to the condi-
tion Of, the affairs of the Peoples
Building and Loan Company, of Rip
ley. 1t will be remembered that the
secretary of the company. l.. V. Will
liams, has voluntarily surrendered
himself on charge of embezzling
funds of the institution, and was con,-
mitted to Jail to await further devel-
opments. Since which time the exam
iners have continued their investiga-
tions with the result that they report
the company insolvent.
A representative of the State Attor-
ney Generals office appeared before
Judge Tarbell and state that short
age existed in the accounts of Secre-
tary Williams and asked that a re-
ceiver be appointed for the Peoples
Building and Loan Company ,and that
the affairs of the institution be liqui-
dated. After further report from the
state examiners the court appointed
Joe Koewler, of Ripley, as receiver
Attorney Chambers Baird will repre-
sent the receiver in legal matters. Ex-
aminer, Mcclure made statement that
the examination had not been conclud-
ed and that the shortage had already
reached about 100000. Pass books Will
be called in and checked with the
ledger accounts, and books and pa
pers which have not been thoroughly
examined will have to be gon4 over
before an accurate statement can be
made. 1t may be several weeks be-
fore this statement will be concluded.
Williams bond is $4,000, which will
be paid by bonding company, we un-
derstand. During the court hearing
quite number of prominent Ripley
citizens were present. The affair has
created widespread attention, and in
Ripley, where large majority of the
share holders live, the excitement is
intense. The company at one time was
one Of the largest in southern Ohio,
but during the past few years has
been rapidly reduced in size, until at
the present time 1t is one Of the small
est.
The Peoples Building and Loan
Company was organized about 35 years
ago. The late Col. L. H. Williams was
secretary Of the company from its in
stitution until his death several years
ago. He was succeeded in Office by his
son. L. V. Williams, who is in Jail un-
| der charge of embezzlement Of the
company's funds. The accused is one
Of the best known men of the county
He has received many honors from
his home town people, being mayor OF
Ripley, secretary of the fair board
secretary Of the loose leaf warehouse
and prominent in fraternal circles
Years ago he was state commander Of
the Sons of Veterans. He conducted 9
large fire insurance agency at Ripley
representing some of the leading com
panies.
Three suits were filed in the Com
mon Pleas Court this week against thu
Peoples Building and Loan Company
of Ripley, plaintiffs being James W
Grooms, D. c. Treftz and s. P. Treftz
all of Adams county. Grooms alleges
that on or about April "a, 1916, he de
posted s4OO with the company ant
was to receive 7 per cent. on same
payable semi-annually. He furthe
says that he received no certificate o
1
deposit nd>that the Peoples Building
and Loan Company has, from time t,
time refused to pay the accumulate
interest. He asks judgment for $40
and interest from date Of deposit Z
G. Treftz claims to have deposited will
said company 800 March 29, 1913, an
5000 February 7, 1914, at per cen
interest. Claims he has never receive
stock certificates or interest on SAINT
A like suit is brought by S. p. Trefti
for recovery of 500 with per cen
interest from March 9. 1914. The Treft
transactions were negotiated throus
the late John Shumaker, who was tn
agent of the company at West Union.