THE BANK AND FACTORIES RE ORGANIZE.
BARNESVILLE WILL ONCE MORE “TOTE HER
Judge E. J. Reagan of the Flint
circuit came to Barnesville Sat ur
day morning last for the purpose
of considering the motion to dis
miss the receiver of the Barnes
ville Savings Bank. This motion
was presented to Judge Reagan at
McDonough, and the case was set
for Saturday March 2'J, at that
time. When the Judge arrived
there were “about forty” lawyers
here, interested one way or
The hearing was held in the
city hall and was largely attended
by the attorneys interested, stock
holders, directors and depositors.
The depositors having met Fri
day and accepted finally the prop
osition made them and the bond
tendered by the reorganizers,
there was little to do Saturday,
except to fix the fees for the receiv
er, Hon. T. B. Cabnniss, and the
attorneys, Col. R. L. Berner, of
Forsyth, and Cols. J. F. Redding
tpul A. A. Murphey, local attor
neys for the receiver.
Hon. T. B. Cubaniss, the re
ceiver, made his last report to the
court, which went at length into
his management of the affairs of
the bank and the condition of
matters generally as they related
to his administration. He asked
for a fee of Jf* 1 T(K) for his services
and SSOO each for C 015..). F. Red
ding and A. A. Murphey, his local
attorneys. Col. Berner, general
counsel for the receiver, was not
present and his claim was not
Hurrah For New Barnesville!
With the prospect of two or three new banks and the resuming of operation of our hitherto idle
mills, we will soon enter anew era in the prosperity of our little city, and bright smiles will once more
play “hide-atnd-seek” on thy furrowed cheek where dark frowns have so lately lurked.
Hurrah for “old” Barnesville! She has passed safely through the past crisis and has emerged
into a “new Barnesville,” with most brilliant prospects for great prosperity just ahead. While you are
rejoicing over the condition of affairs don’t forget that we can make your smiles get a “double shuffle” on
themselves if you will call around and scatter a few of your hard=earned dollars and pennies with us for
some of the many and varied good things we handle in our large and commodious store. We desire
right here to forcibly impress the following pertinent fact upon your intelligent cranium:
sell nearly everything; ask for what you don’t see-most likely we have it.^
Fancy & Family Groceries.
We handle nil sorts and kinds of GROCERIES. Do you
want the finest Flour on earth? It so, just try Postell s Ele
gant Flour once, and you will say so, too. Do you like rich,
red ham gravy? Buy a Dove brand Ham and you will have
this delightful article in profusion. Don t forget that we
have the Simon Pure South Georgia Cane Syrup, unmixed
with glucose; when we sell you glucose we tell you so. We
have the Genuine Cuba Molasses —it's as mellow as a peach
and “sops” tine with our Postell Elegant Four.
We carry a complete lino of Canned Meats, Canned \ ege
tables, Canned fish, etc. We sell food for “old Brindle, too.
Feed her well and she will lose that “quilting frame” look,
and pay you in good results.
. ..Remember we sell nearly everything:...
WE SELL NEARLY TSVF/R.VTTTTNG} ASK FOR WHAT YOU DON’T SEE—MOST LIKELY WE HAVE IT.
B. F. REEVES, Barnesville, Georgia.
Col. Redding insisted that his
fee should be SOOO. Col. Murphey
said that SSOO or SOOO would be a
proper amount for each of the
Judge M. W. Beck and Col. W.
W. Lambdin represented the re
organizers and entered some ob
jection to the amounts asked for.
Col. Lambdin argued the question
for sometime, urging that the
amount asked for the receiver es
pecially was entirely too much.
He said that he was perfectly
willing that the same scale should
be allowed now, as was paid Mr.
\V. B. Smith, the temporary re
ceiver, and his attorneys, but he
thought the court ought not to
allow fees about twice as large as
under the temporary receivership.
After hearing the matter fully
Judge Reagan allowed Mr. Caba
nisß the SISOO and $550 each to
Cols. Redding and Murphey.
Col. Berner, the general counsel
of the receiver, was unavoidably
absent, and his claim for fees will
be heard at the April term of Pike
superior court. Judge Reagan
not desiring to pass on Col. Ber
ner’s claim, he promised to have
some other judge to pass upon it
at that time.
After these matters had been
heard and passed upon, Judge
Reagan issued an order dismiss
ing the receiver, except for the
sob 1 purpose of holding the cash
on hand, paying off the fees and
THE BARNESVILLE NE#S-GAZETTE, THURSDAY, APRIL 3, 1802.
'jA~sfi3Kt wm," - 'win
F JB' /*■¥* * 'JmXKm */MS jißt^k
COL. W. W. LAMBDIN.
The Able Lawyer and Wise Counselor Whose
Work Had Much to do With the
receivership expenses and awaiting
an agreement as to Col. Berner’s
claim. All injunctions and suits
against the officers, directors and
stockholders of the bank were dis
solved and he was directed to turn
over the bank and all of its assets
of every kind to the reorganizers.
The injunctions recently ob
tained by the receiver against W.
S. Witham, and several of his
banks, were not dissolved, and all
papers in such cases were turned
over to the new managers of the
bank, as were also several suits
begun against various parties
under the receivership.
All the depositors and creditors
Crockery, Tinware, Etc.
Don't you sometimes need a set of Plates, Cups and Sau
cers, Bowl or pitcher, or such like? If you do, suppose you
drop in and let us show you through our CROCKERY Depart
ment. We sell all sorts and kinds of TINWARE, such as
Dish Pans, Wash Basins, Pudding and Pie Pans, Milk buckets,
Slop Jars, Strainers, Coffee Pots, Dinner Buckets, Funnels,
“Spittoons” or Cuspidoirs, Milk Cans, etc.
Be sure to see our stock of glassware before you part with
your hard sweat-earned currency. We have most anything you
can interrogate us for in the plain or fancy glassware line.
We sell lots and cords of LAMPS. If you want to be
“lamped,” see our line and we will most-likely sell you, too.
We Sell Nearly Everything^<.<^
of the bank have been satisfied
and by Friday morning the hank
under anew management, will be
in operation. The depositors ac
cepted as a settlement, 80 per cent,
in preferred factory stock, 10 per
cent, cash, 80 per cent. January 1,
1008, and 80, per cent. January 1,
HX)4, the latter payments guaran
teed by a bond of SIOO,OOO. The de
ferred payments draw interest at
the rate of 4 per cent.
In the reorganization of the
mills, which will put them in
operation in a few weeks, there
will be $75,000 first mortgage
bonds, S2S,(XX) second mortgage
bonds and s2s,ooopreferred stock,
this last which goes to the deposi
tors. The old common stock of
SI4O,(XX) will be reduced to SIOO,-
(XX). As these properties are
easily worth $250,000 or SBOO,OOO,
it would seem that the depositors
have received a fine settlement.
The reorganization plan, the ac
ceptance of which results in taking
the Barnesville Savings bank, the
Barnesville Manufacturing and
the Hanson Crawley company out
of the courts, is one of the finest
financial schemes ever devised
under similar conditions and its
success thus far is the greatest
victory for the people of Barnes
ville that they have yet achieved.
It takes three big bankrupt insti
tutions out of the courts and
places them into operation again
and lifts at once a burden that
has been hanging heavily for the
past three months over the people
of this city and section.
It has been a gigantic under
taking. Difficulties and discour
agements innumerable have
sprung up from the beginning un
til the scheme had its successful
termination. A thousand and
one obstacles had lo be met and
overcome. Day after day the
whole scheme hung in the balance.
One day the way seemed clear, the
next, the barriers seemed unsur
mountable. A few r now and then
encouraged the plan, others fought
it to the bitter end. From quar
ters where strongest support was
expected, frequently came the
fiercest opposition. But as the
days passed, progress was made.
Inch by inch, the plan grew in
favor. Saturday the culmination
came and the victory was com
Two men largely deserve the
credit for this almost marvelous
achievement, Col. W. W. Lamb
din and Dr. J. P. Thurman. Day
after day and night after night
for three solid months they plan
ed and worked. Col. Lambdin,
with his clear head aud sound
judgement, steered the scheme
clear of the breakers and Dr.
Thurman, with the most indom
itable perseverance, heedless of
every discouragement, literally
forced it to its successful ending.
Others did their share nobly and
well, but these two are given the
credit for the success of the plan.
THE BANK REORGANIZES.
The reorganizers met Saturday
evening and discussed fully the
situation. After a thorough dis
cussion the following were elected
directors of the bank:
Messrs. C. 0. Summers, mana
ger of the Summers Buggy Cos. r
J. C. Collier, president of the
J. C. Collier Cos. apd the Oxford
Knitting Mills; W. C. Stafford,
a member of the firm of .J. W.
You will save yourself a great deal of worry if you will
come here first in quest of such little things as Flesh Forks,
Potato Mashers, Egg Beaters, Garden Trowels, Weeding Forks,
Carpet Tacks, Shoe Sprigs, Smoothing Irons, Odd Door Keys,
Wire Broilers, Popcorn Poppers, Stove Polish, Shoe Polish,
Vaseline, Needles, Hair Pins, Wood Clothes Pins, Knitting
Needles, Tooth Brushes, Hair Brushes, Combs, Whisk Brooms,
Butter Molds, Harmonicas of all kinds, Jewsharps, Paper
Files, Lamp Burners, Lamp Chimneys Etc. We also have a
complete line of pen pencil Tablets, Slates, Inks, Pencils,
Box Papers, Rubber Balls, Tops, Marbles, Checker Boards,
Dominoes, Garden Seed, Cane Seed, Golden Dent Corn, Etc.
Don’t forget in your “perambulations” to drop in and see
our line of Tobaccos. We sell all the standard brands, such
as Schnapps, Early Bird, Apple Jack, Haynes’ Natural Leaf,
Etc., and last, but not least, is our “Black Mammy” Chewing
Tobacco. If you haven’t tried* it you've missed a mighty good
Stafford & Sons; Dr. J. L. Fogg,
the well known citizen and den
tist, and Dr. J. P. Thurman, the
well known citizen and physician.
These directors met Monday and
elected Mr. C. O. Summers, presi
dent, and Dr. J. P. Thurman,
Mr. A. M. Lambdin was at once
unanimously elected cashier. For
a long number of years Mr. Lamb
din was cashier of the Barnesville
Savings Bank, and his re-election
to this position is exceedingly
timely, and has been well received
by the public. He enjoys to the
fullest extent the entire confi
dence of the people. He is thor
oughly familiar with the banking
business, and besides he has been
in the hank during the receiver
ship and understands the present
condition of the bank’s affairs.
Mr. Summers has shown him
self to be one or ths best business
men in this section- of the state,
and there is no question as to his
ability.to successfully manage the
Under all the circumstances,,
there are many citizens who say
that the bank under its new man
agement deserves the most cordial
support of the people of the city
The officers state that the bank
will be ready for business in a few
days now. They are getting every
thing ready, and they have no
hesitancy in assuring the public
that they will be prepared in every
respect for handling all the busi
ness entrusted to them. The
News-Gazette can and does most
warmly commend the bank under
its present administration to the
public for patronage.
the outlook brighter
After Judge Reagan had passed
the order dismissng the receiver
Saturday, there was considerable
enthusiasm manifested. Every
body felt better and the citizens
lookod and acted as if. a heavy
burden had been lifted. Every
body said that the outlook had
brightened and that Barnesville
would soon lie herself again.
It is now freely predicted that
anew era has dawned for the
brigh beautiful little city.
Well, Just Watch Barnesville