The central record. (Lancaster, Ky.) 18??-current, 1921-02-10
MANY SUFFER
From Financial Failure
Hon. c. c. Bsrxby, II bspviil., Files
Deed OF Assignment. With La
biliti.. Over $500. 900

Bagby. prominent lawyer Of Danvill,
made an assignment with liabili,ie
reaching almost 100000. John h
Stout and J. A. Robinson were nam
ed as assignecs. The assets ar,
about 5000 acres Of knob land in IN,
northern part Of the county, severn
acres in Garrard county and about
forty houses in Danville. Also list,
ed with the assests Is life insnranc,
policy Of 100000.
Mr. Bagby gave as the reason for
his action the temporary money
stringency and the low price Of to-
baeeo lie has been engaged exten-
sively in the production Of tobacco
in the knob lands Of Boyle county.
He has sixty tenants and in rscen,
Fears has built over sixty tobacco
barns and number Of tenant
houses. The greater part Of his in
debtedness was incurred in the sup
port Of the tenants auring the time
they were making the 1920 crop Of
tobacco and for material used in
making improvements on his numer-
Gus farms. In 1919 his tenants
raised a large acreage Of tobacco.
which sold on the Danville breaks for
over $4,000.
Exceptional Optimism Shown
The plan Of Mr. Bagby to pur.
chase the knob lands reflects unusu-
al optimism. About five years ago
he began buying up the knob lands.
In order to purchase the knobs and
erect houses for the Chants and
barns for the tobacco Mr. Bagby
borrowed money and finances were
rendered him on all sides. Most Of
the money was borrowed at per
cent interest and only the revenue
from the investment and the princi-
pal were promised in return.
The busipess was progressing all
right and Mr. Bagby thought he was
making money. he said, when the
slump in tobacco prices this year
caused creditors TO push him for
their money. with Their result he was
unable to meet their demands.
He is one Of the best liked citizens
Of Boyle county his friends say.
Some state that he could have run
for any political Office in the county
and would have been elected.
Even now. when some Of his cred
itors are in fear Of loosing part
their money. there is little. II any. IN
feeling against him. His friends are
solidly behind him and are hopeful
he will be able TO make good his
debts.
Mr.. Bagby is a member Of the law
firm Of Bagby a. Huguely and is con
sidered one Of the most competent
attorneys in Central Kntueky.
II borrowed money not for firm
or corporation. but as an individual
as NNt WIN saw Aihhh'AAeS "'eNh
within easy grasp and as one who
yet is not disillusioned. He feels
that II his property is sold gradually
land at a time when business gener-
ally is not in It's present state Of de-
preston that everything will come
out all right in the end.
List OF Creditors.
The following are the larger cred.
itors Of Mr.. Bagby:
NJ. ]. FarEis. $4,000; Boyle Bank
$4,000; Peoples Tobacco Warehouse
Company. $4OO; !. NJ. Dunn. $3.50;
Durham Implement Company, S.
500; Hughes 4 McCarty, $1,000;
Danville Ice and Coal Company. 81
100; Boyle Bank, $4,000; Peoples
Bank. Perryville, $1,000; Sam
Lyons estate. 81, 1000; Mrs. Ben Les
ter. $4,000; Mrs. Parks, $1,000; Rus
sell estate, $4,000; Mrs. Surber
$4,000; Mrs. Jennie Dillehay, 81
L tNNt MfNs EsAHtA AbH'iNf Nff"fN
Mrs. II. II. Bourne, $4,000; Will j.
Price $4,000; Mrs. Margaret Gordon
s., 500; Kate Mclean, $1,000; Hill
estate. $1,000: Mrs. r. c. Stoll
So 600; Mrs Daisy Chinn, 500; Mrs
z. Engleman. $3.50; Cecil A HUI
guely, $4,000; Sam Owens, $500; j
II. Brown. $50; Briscoe Cain, $500
Mrs. James Gentry. $1,000; John
Stout, $4,000; Miss Jamie Lee ST.,
200; J II. Baughman. $500; james
II. McGinnis, $500; Hudson A Davis
81 500; Yates Hudson, s., 1000; A. T
wingate. $4,000; Mrs, Marie Mason
$500; Mrs Kate Rice, $1,000; W
H. Roberts. $1,000; Mrs. Sam Tug
gle. $4,000.
Collectors with bank, $1,000
Farmers National Bank, $4,000; G.
A. MeRoberts. $4,000; Swift a Co.
$500; note for insurance premium