The Barnesville news-gazette. (Barnesville, Ga.) 189?-1941, April 03, 1902, Page 14, Image 14

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14 THE BANK AND FACTORIES RE ORGANIZE. BARNESVILLE WILL ONCE MORE “TOTE HER OWN SKILLET.” 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 another. 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! i ' 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. considered. 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 local attorneys. 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 Re-organizatlon. 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 plete. 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. Miscellaneous Articles. 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 “chaw.” 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, vice-president. 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 new bank. 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 and community. 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 Grow.