The Marietta journal. (Marietta, Ga.) 1918-1944, 1922-04-27
M.GE. BANK OFFERS
TO BUY BLOCK OF
NOTES AND ASSETS
Would Also Take Over Fixtures
Says President Butler in letter
to State Supt. Bennett

move in the direction of parti-
allv clearing up the affairs of the
Marietta Trust and Banking Com
panv, was made last week by an offer
from the Merchants and Farmers
Rank of Marietta to take over
block of notes and assets of the closed
hank aggregating 100000 to $780,
600.
The offer was made in letter to
Hon. T. R. Bennett, superintendent
of banks, and action on the matter
should be taken within short time.
If favorable consideration is given to
the offer, and the terms of same are
carried out respecting the stock
holders of the closed bank paying in
an assessment of $4,000, this would
releas approximately 100000 which
could be Immediately paid out to the
depositers in the Marietta Trust and
Banking Company.
The offer is made, explains Mr.. R.
f. Butler, president of the Merchants
and Farmers Bank, prompted by
desire to relieve and assist not only
the denositeIs of the unfortunate
bank, but the community at large,
and to assist in quick liquidation of
the banks affairs" Mr.. Buffers let
ter follows:
April 21st, 1922.
Hon. T. R. Bennett,
Supt of Banks,
Atlanta, Georgia.
Dear Sir
The Merchants & Farmers Bank of
Marietta having been urged by
large number of depositers of the
Marietta Trust & Banking Company
to do something in the way of rem
dering assistance to them on account
of their funds being tied up, and It
also appearing that the sentiment OF
the community in general bespeaks
a desire to have one of the banks IN
Marietta come to the assistance OF
these depositors, as far as may be
possible, l have been authorized by
the Directors of the Merchants d
Farmers Bank to submit to you the
following proposition, to wit:
This bank is willing to take over
a large part of the notes, bills receiv-
able and other assets of the Marietta
Trust & Banking Company to an
amount aggregating from 100000
600 to $150,000, by lending money
to a large number of the borrowers
of said Marietta Trust & Banking
Company las per list of such borrow
ers left in the hands of your Liquid
ating Agent for the purpose of
retiring their indebtness to said bank,
thereby giving your department a
substantial sum to dsburSe as a divi-
dend to the depositors.
We further agree to assume the
present lease on the banking quarters,
when it is legally transferred to this
bank with the consent of the leesOr,
and also, to purchase the furniture
and fixtures at price to be agreed
upon, thereby relieving the depositOrs
OF any further expense in the way of
rent and other incidentals.
The above offer is contingent upon
and will become effective as soon as
the stockholders of the Marietta Trust
q Banking Company of record on
Fedy. 4th 1922, have paid into your
department such assessments as may
be levied against them as STOCKHOLM
ers of the Marietta. T. & B. Com
pany, on account of the failure of
SAID bank, and when as much as the
sum of 100000 has been paid over
to you by said stockholders, which
amount we estimate to be only 500
OF your probable assessment. In this
connection we further offer the SER
wees of the Merchants & Farmers
Bank to the stockholders of the Mari
eta Trust & Banking Company in
raising the necessary funds to meet
their assessments, should any stock
holder desire to avail themselves of,
or need such financial assistance.
Also, if this offer is accepted, we here
by tender without charge, such space
IN the banking room as your Agent
may require in iquidating the re-
mainder of the assets of the Mariet-
ia Trust and Banking Company.
in submitting this proposition, we
desire to say that we have been pro-
mpted by desire to relieve and as
sist not only the depositors of the
unfortunate bank, but the community
at large, and to assist your depart
ment in quick liquidation of the
banks affairs.
Yours very truly,
r. E. BUTLER,