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I THE ATLANTA GEORGIAN AND NEWS. MONDAY, DECEMBER 3, OTHER BANKS ARE UNDISTURBED Continued from Pago One, t.lared upon them by the bank offl- J.jals the depositor* will be paid prac tically dollar for dollar. $450,000 Worthless Accounts. The statement of the Neal bank would show that the assets are about 1600,000 In excess of Its liabilities, but It is stated that the Investigation made l.y the Atlanta Clearing House Associ ation disclosed the fact that In the assets are Included at least 9450,000 of worthless paper accounts. It Is stated that the bank has been counting as as. ., ts for years paper that Is recognized i s worthless, the officers not having followed the course pursued by most hunks and other business enterprises ■■ charging off such accounts from lime to time: It was first planned by the Atlanta nearing House Association to have the Central Bank and Trust Corporation, uf w hich Asa G. Candler Is president, take over the Neal bank. Mr Candler, at first, It Is stated, was perfectly willing, but after investiga tion declined to do this. A note In New York to the amount of about 9275,000 Is due In a few days— I he payment on December 26. and the rest In the first week in January. This note Is protected by 9400,000 of the collateral of the Neal' bank. In addition, $300,000 of the .Veal l i nk’s choice collateral Is tied up with the trustees of the Atlanta Clearing Douse Association certificates Issued by the Neal bank. Thus 9700,000 of the bank's collateral Is tied up In these two Items. With these facts In his possession, and the further fact, as Mr. Candler pointed cut, that neither the notes and bonds |,: electing the loons to the Cuban land company and the pyrites mine could he made quickly available as cash, the association declined to assist the bank. Run Depleted Cash. The Neal bank had on hand Friday afternoon at the time of closing. 1324.481.17. After the short run ofSat- vi day, only about 9232,000 of this cash was on band. On Friday afternoon there was due the Veal Bank from other banks and bankers. 985,340.06. To partly offset this, the Neal bank was due other banks 935,696.39. This left to tho credit of the Neal bank from this source approximately 950.000. The Neal bank held at the time closing Saturday 915.000 of bonds, of which 913,000 were state bonds and 92,090 municipal and other bonds. The estimate made by Mr. Candler, after his Investigation, was that the liabilities of the bank were about 9500.000 In excess of that part of the assets which he could convert Info cash In a short length of time. But Few Stockholders. The bank has a capital stock of 3100,. 000. The stockholders are Mrs. M. A. Murrell. L. N. Pittman. Mrs. K. H. Thornton, Mrs. John Keely's estate. E. H. Thornton. A. C. Keely, IV. F.JtIanry and H. C. Caldwell. The par value of the shares Is 9100 each. It Is stated that E. H. Thornton has 18 shares. W. I\ Manry one share and H. C. Caldwell ■me share. It was represented to the Atlanta Clearing House Association by the Neal Bank officials, it is stated, that the presence of the state bank examiner at the bank Friday and Saturday amused the distrust some of the de positors, nnd that this caused the de mand on the bank which .took near)!' *100,000 from its veady cash during banking hours Saturday. The officers of tho bonk are E. H. Thornton, president; W. F. Manry, vice president; H. C. Caldwell, cashier; Frank Berry, assistant cashier. Mr. Thornton at Work. It Is stated that Mr. Thornton Is mq In good health at this time, but he was at work all Monday morning doing what he could to straighten out_ the hank’s affairs, and to assist Treasurer R, E. Park., Notice Posted at Bank. "This bank Is In the hands of the NEAL BANK’S STATEMENT given clearing HOUSE CleaHct rSU—was made by the Neal Bank to the Atlanta Decembe*20 ° U * Assotlat,on Saturday morning. It was prepared on Friday, Loans and discounts 92,560,403.84 Real estate . X91.S43.73 Stocks, bonds, etc. .; 96.5ift.48 Furniture and fixtures .* .* .* .* .* .* .*.*! * .* .*.’ .* .*!.! .* * .* 1.800.00 !J Ue Eastern banks .!!!!.. 45.803.56 Due by other banks and bankers 36.53C.50 Overdrafts 5,934.78 cash In hand . ; . 324,481.17 T °tal i I..... 93,263,304.12 „ , LIABILITIES. capital j 100,000.00 Surplus and undivided profits 460,663.04 Bills payable and rediscounts 300,000.00 Reports 2,176.944.69 clearing house certificates 200,000.00 Due other banks and bankers 35,696.39 TotuI 83.263.304.12 (Signed) (V. F. MANRY. Cashier. NO UNUSUAL DEMANDS MADE ON THE BANKS OF ATLANTA MONDAY BUY IT TODAY That no unusual demands are being made by depositors upon Atlanta banks and that deposits are being made on Monday just as they have been made In the past. Is Indicated by Intervlewa with a number of prominent bankers of the city, Monday. While It Is admitted that a slight feeling of unrest has been prevalent among certain classes of depositors, It If* the general opinion, openly ex pressed, that the vast majority of peo ple who have placed their money In the banking Institutions of Atlanta entirely undisturbed by the closing of the Neal bank. Aaa G. Candler. Asa O. Candler, president of the Central Hank and Trust Corporation, and president of the Atlanta Clearing House Assocfatlon, said: "I am very much pleased with the situation today. There appears to bo little uneasiness on the part of deposi tors nnd the banks appear to be doing a normal business." c C. E. Currier. C., R. Currier, president of the At lanta National bank, said: . '’There have been no unusual demands made ui>on our bank today. On the contrary, we have been hard at work taking deposits. Nobody appears to rnliclpnte the slightest disturbance." W. L. Peel and R. F. Maddox. Colonel W. L. Peel, president of the Maddox-Uucker Banking Company, nnd Robert F. Maddox, vice president, gave out the following statement: "No unusual demands have been made upon our bank today, and every thing Is moving along smoothly. We are delighted to know that the eonfi dence of the. people has not been shaken by the unfortunate situation de veloped Saturday. Our deposits have been about as usual." J. K. Ottloy. J. K. Ottley, vice president of the Fourth National bank, said: "In so far as this bank is concerned, business has been about as usual, and there have been no unusual demands made upon us." J. T. Holleman. J. T. Holleman. president of tne Union Savings bank, said: "We are much pleased with the con fldence our depositors have shown. We frequently have larger withdrawals thnn those we have had today. The demands have not been unusual, and deposits have been good." Robert J. Lowry. Colonel Robert J. Dowry, president of the; Dowry National bank, said "We have had a large number of new deposits today, and feel that there Is nothing to worry about. There Is no material difference between the busl- ?ss of today and other days." Frank Hawkins. Frank Hawkins, president of the Third National bank, said: We have taken In many new ac counts today. Business Is normal, and there arc no withdrawals." bank examiner. "JB. Jf. THORNTON. Director. "W„ F. MANRY, Director. H. C. CALDWELL, Director." The closing of the bank was the re suit of an examination made by As sistant State Bank Examiner J. S. Hol- llnshead on Saturday, and a meeting of tho Atlanta Clearing House Associa tion on Saturday and Sunday, when, after a full investigation, the associa Hon declared that the loans of the Neal Bank were such that they could not readily be converted, and the associa tion did not feel warranted in render ing the assistance that its present ne- lessdtiefc required. President Thornton refused Monday mornlhg to make any statement what- r. other than that previously given 0 it by him, which follows: The affairs of the bank are now In l| >‘* hands of the state bank examiner. 1 ast Saturday we kept open until the t'kular closing hour of noon and paid ev "ry check that wfcs presented. There bad been rumors put in circulation days before which brought the * >Ivency of the bank Into question, and ft number of depositors began to with draw their deposits or .transfer their a-counts to other banks. In Justice to all the depositors, we called upon the clearing house association, of which we are a member, to make an Investiga tion Saturday afternoon, and this has beeh done. It has been decided to let the state bank examiner take charge of the bank’s affairs. The whole situation 1^ the,result pf the rumors referred.to, and this we yould not help." When asked If the depositors would be paid in full. President Thornton said: "Yes, I believe that every depositor will get dollar for dollar. Of course, this can not be done Immediately, as the Investigation must be completed by the state bank examiner." Clearing House Report. The Clearing House Association held a special meeting on Saturday after noon and this was continued on Sun day. The accounts of the Neal bank, which is a member of the association, were carefully studied and the associ ation finally made the following re port : To the Public: After duly consider ing the character of the assets and resources ofithe Neal bank, and inves tigating Its affairs hs far as possible, for the purpose of extending to it such assistance as its condition would war rant. we regret that we And tho in vestments and loans of this bank are of such a character that in our opinion they can not be readily converted, and therefore wo do not feel warranted in rendering the assistance that Its pres- nt necessities require. \\> believe that the Interests of tho depositors and creditors will be best conserved by allowing the bank to con vert its assets through the state offi cials, as provided by law. We hope j examiner or assistant, or examiner ap that by the adoption of this course j pointed as aforesaid, or shall in any creditors and depositors will ultimately j manner obstruct or interfere with him be paid. fin the discharge of his duty, or refuse * to be examined on oath touching the concerns of the bank, the state bank FORATION. Bank Examiner’s Law. The law under which the state bank examiner takes charge of the bank's affairs was passed, by the assembly of 1907, introduced by Holder. Alexander and Heard. Its text follows: "Any bank doing business under this net may place Its affairs and assets un der the control of the state bank ex aminer by postfng a notice on the front door as follows: This bank Is in the hands of the state bank examiner.’ Signed by a majority of the directors in their own handwriting. The posting of such notice, or the taking possession of any bank by the state bank exam iner chall be sufficient to place all its asset.) and property, of whatever na ture, in possession of the state bank examiner and shall operate as a bar to any attachment proceedings. "Whenever It shall appear that the capital stock of any bank or trust company doing business under this act has been impaired over 10 per cent, the . state bank* examiner shall notify such bank to make such impairment good within hlnety days, and it shall be the duty of the officers and direc tors of any bank receiving such notice from the state bank examiner to imme diately call a special meeting of Its stockholders for the purpoee of mak ing assessment on such stock sufficient to cover the Impairment of Its capital, payable in cash; provided, that such bunk may reduce Its capital' to the extent of th« Impairment, if such re duction will not place Its capital below the amount required by this act, "Whenever any officer of any bank shall refuse to submit the books, pers, and any assets to the state bank A Store For Men Traveling Bags and Suit Cases $5.00 to $30.00 Neckties 50c, $1, $1.50 Gloves Mufflers Handkerchiefs Suspenders Hats Shoes Bath Robes Pajamas Night Robes Collars Shirts Umbrellas $1.00 to $15.00 Canes 50c to $7.50 House Slippers $1.50 to $3.50 Bath Slippers 50c to $2.00 MISS HELEN MALONEY IS IN CONVENT NEAR ROME Philadelphia. Dee. 23.-It la now an nounced by authority that Helen Maloney, or Mr». Edward (>Hl»orn, la In n convent near Home, Italy. Iler father. Martin Maloney, the luulti-mIUlouaIre, and hla ala- ter, Mra. t'arherry Ritchey, nlao are !u Home and pay frequent vlalta to the young woman, whoie elopement with Hamnel Clarkson, of London, Eng., enuted her to b# Immured In the rellaloun retreut. She haa told her rclutlvea that she loves Clarkson and hopps to be married to him aa soon as frocil from the lamds which bind her to Os born, the young New Yorker, to whom she really did not consider herself married. Hhe insists, and her fninfly believes her, thnt In nil her travels with Clarkson, she posed ns his sister and they traveled ac cordIngly. THE ATLANTA CLEARING HOUSE ASSOCIATION. ATLANTA NATIONAL BANK. LOWRY NATIONAL BANK. FOURTH NATIONAL BANK. MADDOX-UUCKER BANKING CO. THIRD NATIONAL BANK. CENTRAL BANK & TRUST COR- Guarantee Trust and Banking Co. CAPITAL $300,000.00 Organized for Business December 10,1907. loans, The strength of a bank is in its individual The charter of this institution restricts its loans absolutely to collateral securities, afford ing thereby the most perfect security obtain able for funds. Commercial and Savings Accounts Solicited. Bank Offices, Temple Court examiner may, with the concurrence of the governor, thru the attorney gen- eral. Institute proceedings for the ap pointment of a receiver for such bank to wind up Ita business. Powers of 8tate Bank Examiner. "The etate bank examiner shall have vested In him the authority to adopt such rules, regulations and forms that he may consider of value to the bank ing department, and shall call for such reports as to the condition of any and all banks and trust companies that are subject to his examination, and may anpolnt special examiners when occa sion arises, and prescribe their duties and limit their powers under his direc tion. And shall have power to institute proceedings to place banks or ( trust comoanies under his control in the hands of a receiver, as may be pre scribed by the laws of this state, when so ordered by the governor, to whom he must submit a report touching their Insolvency, and shall have authority and perform any other duties as may be enacted by the examination and regulation of banks and trust compa' nies in this state. "If upon examination made by the state bank examiner, or his assistant, or from any report made to the state bank examiner, it shall appear that any bonk is insolvent, it slialf be the duty of the state bank examiner to im mediately report such condition to the governor, and when ordered by the gov ernor he shall Immediately take charge of such bank and all the property und effects thereof. Upon taking charge of any bank the state bank examiner shall as soon as possible ascertain by a thorough examination Into Its affairs Its actual condition, a ml whenever he shall become satisfied that such bank can not resume business or liquidate Its Indebtedness to the satisfaction of all creditors, including it* shareholders, he shall report the fact of Its Insolvency to the governor, who shall upon receipt of such notice Inntruct the attorney generai t«. institute proper,, proceed ings In the proper court for the pur pose of having a receiver appointed > take charge of such bank and to Ind up the affairs and business there of for the benefit of its depositors, cred it >r* ni d mo* kh'd.U r*. Wh^n directed by the governor, the state'bank'exam iner may appoint a special nsststant to take charge of the affairs of the In solvent bank temporarily, until the re ceiver is appointed. Such assistant shall qualify, give bond and receive compensation the same as the regular assistant, such compensation to be paid by such bank, or allowed by the court as cost In the case of the appointment of a receiver. Provided, that in no case shall any bank continue In charge of any special assistant for n longer period than sixty days, and the bank shall not change Its corpus by the transfer of any stock while thus In the hands of said examiner." Organized in 1887. On January 14, 1887, the Neal bank was organized, the incorporators being E. H. Thornton, the late Thomas B. Seal and the late Captain John Keely,; and associates. The amount of capl tal stock was $250,000, and the* bank began business when $100,000 of this sum was paid in. Thomas B. Neal, the president of tho bank, waa a son of John Neal, a promt, nent citizen of Atlanta, and the ma jority of the stockholders In the In stitution were heirs to the estate of John Neal. The first officers of the bunk were T. B. Neal, president; John Keely, vice president; E. H. Thornton, cashier; W. F. Manry, paying teller, and H. C. Caldwell, clerk. The Neel bank was located at 11 Alabama-st. for about three years. Later It was moved to the old Consti tution building In Broad-st., and when the Prudential building In Broad-st. was completed It was removed to Us present home on the first floor. Since the bank was organized its surplus and undivided profits have beet) Increased on several occasions, but the amount of capital stock has never been changed. The officers of the bank at present are: E. H. Thornton, president; W. F. Manry, vice president; H. C, Caldwell, cashier, and F. M. Berrj, assistant cashier. Mr. Caldwell has held the po sition of cashier since January l, 1907. The directors of the bank are: E. H. Thornton, W. F. Manry, L. W. Pitt man, H. C. Caldwell, and F. M. Berry. LOST $100,000 PLAYING RACES; HE ASKS ALMS Freeport, Long Inland, Dec; 23.— Stewart Hyde, who disposed of a for tune In less than ten years, will prob ably spend hla Christmas aa a guest of the town of Hempatead, at Ita poor farm. Hyde followed the racea. When hla father died, the young man got 8109,000, and aubaequently he Inherited other Bums. Last Wednesday, Hyde, dead broke and hungry, applied to the BELIEVE ROBBERS TURNED SWITCH Southern Train Was De railed at Yard in Tal lapoosa. fipsrlsl to The GeorgiaD. Tallapoosa, Oa.. Dee, 23.—Engineer Sam Downey, of Birmingham, was killed In a Southern wreck here at 6; 40 o'clock yesterday evening. The Injured were Engineer Joe Lane and Fireman John Williams. A passenger, W. J. Wyatt, of West Point, Miss*,, was slightly Injured. Southern train No. 23, which left At lanta yesterday afternoon at 4:10 o'clock, ran Into an open switch at keeper of the poor farm for relief, and this placs with ths result that the en gineer was killed and three persons were Injured. Both engines ware turned over, and the mall car was derailed. It took about an hour to clear the track after the arrival of the work train. About elx months ago a similar case occurred, at which lime Southern train No. 25 was turned over, and an Invest!, gallon showed that the switch had been tampered with by boys who had formed a plan to rob the express car. Ths train was a double-header. En gineer Downey was at the throttle of the first engine and Lane was In the second. CLOTHING ON CREDIT FOR MEN AND WOMEN. SPARE 91.00 A WEEK. WE WILL KIIEP YOU WELL-DRESSED. THE FAIR S3 WHITEHALL STREET. EVERYHAT GUARANTEED ■ SOPISCMTSfa IT. CAR STRIKE NEAR i Thursday he was admitted. BURGLAR BATTERED BARBER’S BIG SAFE By climbing an awning rope, aallor fashion, a burglar some time Sunday night made his entree Into ths barber shop of J. Ed Walker, 3 Viaduct place, and, after breaking open the raah reg ister, wrecked a big Iron safe In an ef fort to open It. The burglar used some kind of henry Instrument, battering off the combina tion and otherwise mutilating the eafe. All of his efforts were unavailing, how- ever, as he failed to get Into the safe. It Is thought that possibly he was frightened sway before completing his work. The marauder obtained only four cents from the cash register. He a I to confiscated a number of cheeks that had been paid and returned by the hank. The police made an Investiga tion, but could find no trace of the bur. glar. STATE EXAMINER ON REGULAR ROUND PARK BELIEVES NONE WILL LOSE Ktutr Treasurer and Bank, Examiner Rob ert K. Pork v»ii nr bln offlre Monday after noon. nfter a long eijnferenre and examina tion nt the Neal Bank. He waa reticent In tile *ti»fentente regarding the condition of the tank. ”1 l»«‘ll**ve thnt th** detKHdforn will eventu al ly fi*ee rmtHf,'" be osbl. ”1 hare not had WL. Jd Hi e>mnlne all the accounts. There nre aerernl tin him ml of them. The •report nut.mitred t y the assistant cxnuilnera trfci not t»e te-» !»* jmMIe untW my regular Yeyort la pufdUwJ* Seal Hank existed In the mfhff of State Bank Examiner R. E. Park waa evi deneed by the fact that he went to hta farm at Holton, near Macon, Saturday morning, ah 1b hla cuatom. Examiner J. S. Hdllinshe&d. of New- nan. came to the city Saturday morn ing under directions to begin the reg ular inspection of the state banka in Atlanta. He began work at the Neal Bank and reported his findings. These examiners work practically ail the time, going ail over the state. They have no regular time for making the examina tions, but drop Into the state banks without notice. The genera! condition of state banks over the state has been reported un usually good. During the atrlngent times the country hanks have been very careful and have weathered the close times extremely well. It Is generally recognized that the laws governing state banks are not ad equate In Georgia. For years efforts have been made to pass measures that will safeguard depositor* in every way, Strike-Breakers Herded in City Ready to Operate Street Cars. YALE GLEE CLUB TUESDAY NIGHT An event of widespread Interest Is the concert which will be given by the Yale alee Club at the Marlst College Tuesday evening, at » o'clock. An In teresting program, which will appeal to old and young alike, hoe been arranged for the occasion, consisting of college songs and classic and popular music. The club le composed of fifty stu dente of the great unlverelty, repre sentlng the beet musical talent to be found In any of the great colleges of the North. Their entertainments al ways measure up to the highest stand ards, and have charmed and delighted the most cultured audiences In Ihe land. The club left New Haven December 16, stopping for concerts at Brooklyn, Beading, Washington, Richmond and Havannah before arriving In Atlanta. During their stay In the city, the Yale men will be extensively entertained at various social func'lons arranged by the Atlanta alumni of the famous unl- .•erstty. Philadelphia, Dec. M.—WItn strike-break, era being berried Into Philadelphia by Janes Parley and a deadlock between ths street railway employees and the Philadelphia Itapld Transit Company over the grievances of the men. there Is little prospect that peace will grow out of the meeting this morning. The attuatton has reached au acute stage. The executive committee of the Amalga* mated Association of Htreet Bailwty Em ployees has called a meeting to couslder the ndrlsabllfty of cnillng out all conduc tors and moturman who are members of the union. The traction company baa made extensive preparations for n strike and will, not he caught napping. but without nuccesn. The act creating the bureau of bank. Ing, passed by the last general aasem. bly, le the most comprehensive law the etate has ever hod. but some Important features were eliminated. Many states have laws making the bank directorate personally responsible In case of fail ure. SMOKE EEM CIGARETTES Smoke EEM Cigarettes for colds, ca tarrh. asthma, 6 cents. Drug Stores and all Cigar Stands. FLEET ANCHORS IN PORT OF SPAIN FOR HOLIDAYS Washington, Dec. 33.—Tomorrow tho big fleet will anchor In the harbor of Port of 8paln to allow the officers and crews to enjoy the Christmas holidays on land. Ths transports, laden with Christmas gifts, will arrive about the same time from New York, and the presents will be distributed. The fleet will remain In this port five days before sailing for Rto, on the aecond leg of the long journey. They will then hare passed beyond the zone of the wireless telegraphy. GOLD GLASSES For Christmas, at Jno. L. Moore A Sons'. They have a fine variety of styles, and will exchange nfter gift Is resented If necessary. 42 N. Broad it.. Pruden'lal building.