The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-03-24
Reorganization Of Bank is
Completed and Institution
to Be Re-opened Next Week
Says Statement.
ASSESS STOCKHOLDERS


Lowell w. Cox to act as presi-
dent, In place of Edgar r. Hiatt.
The office of chairman of the
board and general counsel was
created and Henry c. Starr
elected to that position. All of
the other officers and employees
of the company will be retained
in their former positions.
"The board of directors desire
to say that their stockholders
have voluntarily contributed
over 5000 per share, and that
the capital stock and surplus of
the company is composed of
rigidly examined and clean as
sets.
"The institution will be open
Tor business during the coming
week.
"HENRY c. STARR.
Chairman"
In an interview with President Low
ell w. Cox regarding the Dickinson
Trust company, he says that the de-
postors with the Dickinson Trust com
pany. and the citizens of Richmond
as well, should feel justly proud of the
directors and all other shareholders
who have so valiantly stood by the
company and assisted in making pos
sible the removal of all undesirable
assets by the payment of more than
two hundred dollars per share into the
institution whereby under their legal
rights each shareholder could have
discharged their legal obligation by
the payment of one hundred dollars
per share.
draif hs1 cot1 hot
takes men and women of sterling
worth. high ambitions and courage to
restore an institution whose assets
have been so depleted When the
Dickinson Trust company is opened
for business again the coming week,
its condition will be entirely satisfac-
tory to the state banking department,
for as State Banking Commissioner
Charles w. Camp said before the
, stockholders meeting on Wednesday,
1T has been cleaned, and when | say
clean, mean Clean"
The committee on reorganization
submitted the following biography of
Mr. Cox:
Lowell w. Cox the. new president
of the Dickinson Trust company. is a
native of Jennings county, Indiana,
where he played among the hills, fish
ed in the streams and performed the
usual duties of boys, upon his fathers
farm from Feb. 16, 1872 until 1882,
when his father, John H. Cox, became
treasurer of Jennings county, moving
to the county seat, Vernon, Ind,
where the family lived for four years
''On Feb. 26, 1886, John H. Cox open
ed up the bank of Sheridan, at Sheri-
dan, Hamilton county, where today he
is actively engaged in the banking
business. Though 70 years of age he
is, still found at the American State
bank of Sheridan, ready to do his part
as president of this bank Through
out the SO years, John H. Cox has
been president of the Bank of Sheri-
dan, The State Bank of Sheridan, First
National bank of Sheridan and is
known and respected as one of the
oldest, best and most conservative
bankers in central Indiana
The president of Dickinson Trust
company, Lowell W. Cox, is the third
of six living sons. three of whom have
from their youth been actively en-
gagged in the banking business; Or
lando A. Cox, the oldest son was with
his father for seventeen years, his
connection with the First National
bank at Sheridan, Indiana, moving to
Los Angeles, California 10 years ago,
entering at once into the service of
the Merchants bank. which after
wards became the Merchants Nat
ional bank, of which he is now the
assistant cashier. an institution with
resources of more than twenty-five
million dollars
'On January 4, 1898, Lowell w. Cox
established the Bank of Russiaville,
at Russiaville, Ind. afterwards con-
verting into what is now the First
National bank of Russiaville, with
which he remained five years, resign
ing as Cashier to become cashier of
the First National of Sheridan. Ind,
together with his father, John H. Cox
They faithfully served the banking
interests of Hamilton county for IL
years, during which time the resources
of the bank more than doubled
''On October /, 1913, father and son
sold all their interests in the First
National Bank of Sheridan, Lowell w.
Cox becoming cashier of the Clinton
County Bank of Frankfort. Ind a pri-
vate bank with resources amounting to
about six hundred thousand dollars.
During the five years Mr.. Cox was
with the Clinton County Bank it was
reorganized into the Clinton County
Bank and Trust company. finally clos
mig his connection as cashier of the
Clinton County Bank and Trust COM
pany with resources amounting to one
and quarter million dollars, to be-
come state bank examiner, Sept. 20,
1918.
Upon the invitation of the directors
of the Citizens Loan and Trust COM
pany of Frankfort, Ind, Mr.. Cox re-
signed as state bank examiner to as
sumo the duties as secretary-treasurer
of this new but growing institution.
During the two and one-half years as
secretary-treasurer OF the Citizens