The Mt. Sterling advocate., 1922-01-26
Bankers Offer
Additional Loan

Additional subscriptions TO the
first liberty Loan Of the Burley
tobacco Growers Cooperative As
sociation, when totalled in- the Of
Aces. Of the association, raised the
amount subscribed to $780,
600, the total being $4,346,O00,
while the immediate needs Of the as
sociation, as stated in the speech Of
Judge Robert W. Bingham to the
bankers in conference at Lexing
ton Saturday, are only $3,60O,0OO
President James C. Stone was iu-
bilaSt over the additional evidence
of confidence in the association and
its plan shown by the bankers. "It
is hardly necessary to say" said
he, when asked for a statement,
''that the officials Of the association
representing the growers Of the bur
ley district, are greatly gratifed by
this further manifestation of the
confidence of the banks of the bur
icy district.
mo such similar wonderful spir-
it of cooperation between the
banking and business interests and
the farmers ever has been seen in
this or any other state. That we
are grateful to the bankers for this
further evidence Of their Intention
to stand by us goes without saying"
Among the additional $175,O0O of
subscription was one of $4,000
from the Guaranty Bank & Trust
Company of Lexington. The sub
scriptions received follow:
Bedford Loan and Deposit Bank,
$1O,5OO; Cecilian Bank, Cecilian,
$4,000; Ewing Deposit Bank, $3,-
600; Florence Deposit Bank, &c.
800; Citizens Deposit Bank, Ghent,
$4,000; Hiseville Deposit Bank, $2,-
600; Farmers Deposit Bank, Horse
Cave, $4,000; Jonesville Bank, $4,-
800; Peoples Bank, Lagrange, S10,-
900; Lawrenceburg National Bank,
1000; Guaranty Bank and Trust
Company, Lexington, $4,000;
Bank Of Manchester, Ohio, $4,000;
Farmers Bank of Petersburg, $6,-
900; Deposit Bank Of Pleasureville,
additional from directors, $4,000;
Sanders Deposit Bank, $4,000;
Bank of Taylorsville, $4,000; Har-
ris-Sellers Bank, Versailles, $1O,-
600; total additional, $1z6,5OO.
kilograms poured into the Office
of the association all day Monday
from banks in all parts of the bur-
ley district, either confirming loans
made Saturday last, subject to the
action of the directors Of some Of |
the institutions, or making subscrip-
tions to the loan which already was
oyer-subscribed 100000 and more.
1t was said at the offices that in
addition to the pledges of the banks
Saturday, which totaled $1,S64 500,
and Judge Bingham's loan Of ST.
100000, the other banks which had |
already subscribed We're the follow
ing: 81 Il
National Bank Of Kentucky, |
Louisville, 100000; Liberty Insur-
ance Bank, Louisville, $l25,OO0; |
Lincoln Savings Bank, Louisville,
Sl2O,000; Louisville National Bank,
Louisville, $1,000; Fifth Third Ma
tional Bank, Cincinnai, $5O0,0O0
This would make the total sub
scribed to Saturday $4,l69, 500,
which, with Mondays offers added
grand total of $4,346,OOO.
President Stone declared that he
had never seen in any movement
such fine spirit Of cooperation as
had been manifested by the bankers
of the district in support of the new
marketing association.
"With such a wonderful spirit as
these bankers manifested" said he,
'and with such CO. operation as they
have given us, if we do not make
success beyond the expectations of
our best friends we do not deserve
to succeed. | have never in my life
seen anything TO beat it and words
will not express the qualification
feel over the outcome of our first
request for financial assistance
from the bankers of the district