The review. [volume] (High Point, N.C.) 1908-19??, 1921-11-10
Probe of Closed
Bank to Be Made

Thomasville, Nov. 7.-An import
ant meeting Of the depositors and di-
rectors of the Bank of Thomasville
which is now in the hands of Receiver
T. J. Finch, is called for next Friday,
November 18th, at o'clock, the call
being signed by the committee corn
posed of Archibald Johnson, J. A.
Elliott, DR.. r. w Myers, Frank Full
Ter and C. A. Evans. This meeting
will be held in the Work and Win
club, roms on Salem street and it is
annoucned in connection that, each de-
positor should be prepared to pay his
part in a proposed investigation, as it
viii be necessary to employ legal coun-
sci At this meeting it will be de-
cided whom the lawyers will be, or
ploy. Stephen Mcintyre, of Lumber
ton, who is attorney for the orphan
age, has been mentioned as one of
the probabilities, as has also J. r.
McCrary, of Lexington.
About $165,000 said to have been
appropriated by J. L. Arnfeld, or
loaned to him Of the peoples depos-
its in connection with the Bank of
Thomasville, Of which he was presi-
dent, has been discovered, so far, ac-
coFding to information which is leak
ing out by degrees. It appears from
the best sources of information that
the funds Of the bank were freely used
bv him for several years and that
since last January it was known that
the affairs of this institution were in
nrecarious condition.
There are varying opinions among
local business people as - the f--~'
outcome, or as to the debts which
Armfeld owes the bank, some beii-v-
ing that had the corporation commits
sion acouiesced to the wishes end re-
ueets of the new banking company,
which was in embryo and had recon-
mended for receiver Of the defunct
bank, ]. T Hedrick, of Lexington, who
was agreed upon as the president of
have paid in full the amount of the
deficiency and the new organization
would be furctioning today with good
prospects. Others believe that the
present receiver, T. J. Finch, will
wiring from the Armfelds every avail
able cent for the depositors and that
the affairs of the institution will be
settled up in a purely business form,
which all parties interested really de-
sire to see. It is known, of course,
that Mr. Finch is president of the
First National bank on the orrositn
side of the street from the defunct
bank and that he is first class bust
ness man, but many are fearful that
he will be the means of a long. delay
in getting another bank into opera
tion, which they feel is needed here,
on account of his close connection with
the other bank.
Mr. and Mrs. S. O. Perkins, of Phil
adelphia, stopped in their car last
Wednesday with Mrs. G.. R. Thomas,
and on Thursday Mrs. Thomas accom-
panied the INTO the Perkins home neo1-
Lenoir. Mr.. Perkins is in the soil
survey of the federal government and
spends the summer in the north and
the winter in the south.
W.. Fl. Tudor, local representative
of an insurance company, handed Mrs.
John Hedrick check last week in
payment of policy on the life of her
late husband amounting to $500.
Mrs. Hedrick with her children moved
last week to the home of her parents.
Mr. .and Mrs. John Motsinger in the
country where she will make her
home for time
j. E. Wyche died of apopIexv n n
Sunday morning about the breakfast
hour. His death was a shock to the,
community she was out as usual ON
| SATURDAY. looking after his affairs.
Mr.. Wyche was man of broad
knowledge and extensive acquaintance
/ For many years he was the agent hore
| OF the Southern railway station. His
widow survives him.