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DEFIANCE CITYBANK ASSIGNSDoors Closed at 4:30 Wednesday Result ot Creelman Lumber Co. Troubles--No Statement Yet Made ot Banks Condition.As the result of a judgement ers, the Bank Immediately filed abrought by the Hickman County lt;*«« °f “8i?nhmcn‘; th= d,id °r . . . ,,, .... assignment John W. Winn Is namedBunk or Centerville, lent... an out- aa asslgncc. Mr. wlnn at the tlme assignee ................growth of the Creelman Lumber the deed of assignment was filed, company affair, the Defiance City was in attendance.at the .Democratic Bank Wednesday afternoon at 4:30 State convention and did not learn of made un assignment J. W. Wlnn,the proceedings until his returnh* ...1 some time last nignt.was named as assignee. No figures, when walted upon a[ hl offl(,ehave yet been given out relative thls morning. Mr. Winn stated that to the condition of tne defaunct in- he was unable to give out for publi-stitution and will hardly be until cation any definite information con-tomorrow at least. .eerning the affairs of the Bank HeThe Defiance City Bank Company h“was organized and began business senled lhe Defiance City Bank in on March 22nd, 1904. The corpor- some litigation in the Federal courts atlon was organized under the laws at Toledo, he knew practically noth-of the State with a capital stock ] ing about the affairs of the Bank ex-of $ 100,000. Some time after the .ce^ in a £eIV;ral wa’- ' . _. . , ! From the best sources of informs-organization. several parties outside ll0Q obtalnablet the Bank fallureof Defiance became interested in the wm not materially affect any greatbank and the capital stock was in- number of persons outside of thecreased to J250.00O.F E. Creelman stockholders. Ever since the Bank’sof Chicago was one of the heavy; «Unl^. iwtth .heoutside stockholders.failure of the Creelman people, depositors have been gradually with-At the time of the increase of lhe drawing their funds until the Bank'scapital stock of the bank, the Creel! list of depositors is very limited, man Lumber Company and its subsi Some time ago the Bank took out in-diary companies, all of which were.... . . . positors. lhe amount being the sum‘ngaged in the lumber business in. Qf ,so 000 wrjtt*n by the Bank De-different parts of the country, was positors Insurance company of Wash considered a very strong institut- j ington D. C. Today parties interest ion. The Creelmans became inter- j ed in the Bank were looking up this osted In .ho purchase of a largo Indemnity Company with a view of , . . .. . „ learning whether or not it is respon-tract of I-ouisana land and their off- | s|b|e_ ,f lt ,s rcSpon8ible a8 lt wa,
Newspaper Details
Defiance Daily Crescent News
Defiance, Ohio, US
Thu, May 07, 1908
Page 1
Full Page
Clipped by
Anonymous
TN, USA 08 Jul 2017
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