S( Of NEWPORT SUSPENDS.
Ferguson Probably Appointed
:eiver by Chancellor tlum
jhries and Bank May
Pay Depositors in
full.
Bank of Newport has sus
i and on the front door
y morning appeared a no
this effect, stating that
ectors of that institution
anted it advisable to sus
usiness and ask the ap
ent of a receiver, vouch
to the depositors as full
ion and consideration of
iterests as possible,
announcement came as a
;o the great majority of
though a number of large
brs had withdrawn their
ts owing to prevalent ru
if its impaired condition
on of a heavy loan, which
rower had failed to make
ieposits of this, the oldest
1 the city, having been
established in 1889, were nearly
$200,000 and its failure falls
heavily upon a large number of
JL people. Not many business firms,
'^f but a large clientele of farmers,
wage earners and people of small
ii means were depositors in the
suspended institution.
One heavy loan as stated, was
ft responsible for the suspension of
the bank, and this would have
V" been largely recovered, but for a
■ year of unusual rains, which pre
W vented sawmill operation and
pi»-us the payment of incurred ob
PAY DEPOSITORS IN FULL.
To a reporter for the Independ
ent Mr. R. M. Johnson, the cash
i ier, stated that the finances of
S' the bank, outside of the one bad
loan were in excellent shape and
they held little other paper that
was not absolutely good.
He bravely proposed to turn
over his home and other property
k for the settlement in full of every
depositor’s claim and stated that
I he believed and hoped the bank
w would meet every such obliga
* tion.
A call has been made upon the
stockholders for the payment of
the remainder of the stock, $25,
000. The paid in capital of the
bank has been $25,000, with a
suplus of $35,000.
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^MESS, President. ALEX. BERGER, Secretary-!easurer.
Among the stockholders of the American Trust
Company are the most responsible people finan
^ cially in this section of Arkansas, and includes:
y. A. Cole, J. B. Gregg, B. H. Berger, Joe Berger,
i Sr., E. Less, Alex. Berger, J. Less, M. Stonefield,
I J. W. Harrell, Bradford & Etchison, J. A. Dixon,
%, Nathan Ichenhauser, H. Carlton & Co., S. P.
Thompson, A. Daust, J. D. Stringer, and many
others.
jV We offer 5 per cent, interest and safety. Are you
doing this well? If not, write today asking about it.
Mr. Joseph M. Stayton left
j Sunday for Mammoth Spring and
| it was expected that Chancellor
George T. Humphries would an
nounce the appointment of a re
ceiver Monday. Mr. Alcorn Fer
guson is the probable nominee
to take charge of the bank’s
affairs. Even in the shock of
the announcement, when the
chance of loss is felt keenest, the
confidence of the public in the
conscientious integrity of Mr.
Johnson, the other officers and
directors is firm and to them is
extended our sympathy. Vv e
hope the receiver may be allowed
to carry out such a policy as will
in the end best protect the inter
est of all concerned.
The officers and directors of
the bank are: George W. Deck
er, president; A. D. Bailey, vice
president; R. M. Johnson, cash
ier; J. L. Jones, assistant cash
ier; Thomas J. Graham, Jos. M.
Stayton, E. P. Shcffner, Dr. J.
M. Jones, J. T. Henderson, T.
S. Stephens,
ready for a run.
The other Newport and Jack
son county banks are in no way
insolvent and are in excellent
condition. They also have the
cash on hand to* pay out to all
freightened depositors. How
ever instead of a run, they have
been taking over many of the
old depositors of the suspended
bank, showing the confidence
pervading in their absolute
solvency, for such times are oft
en the test of a tru>t institu
tion’s stability.
Rich Young Men in Politics.
The politicians of Milwaukee
are much disturbed about Sher
burn Merril Becker, “the boy
politician, recently elected
mayor of that city.
Becker is only 2G years old.
He was born rich. He graduated
at Harvard and later took a di
ploma in manliness on the plains
as a cowboy. He got married to
a girl he loved and they traveled
twice around the globe.
Then the young millionaire,
globe trotter and ex-cowboy
came back to Milwaukee, where
he jwas cotillion leader and soc
ial favorite, and announced him
self as a candidate for county
supervisor. His society friends
poked much fun at him, but he
was elected.
Becker took an immediate in
STATEMENT
OF—
The Condition of Arkansas
Bank <$: Trust Company
at Close of Business
April 28, 1900.
LIABILITIES.
Capital. $50,000.00
i Surplus and Profits $11,811.02
Deposits.$270,119.29
$331,930,31
ASSETS
! Loans and Dis. 136,541.78
Cotton Loan. 46,253.65
Scrip on hand. 955.57
Furn. and Fixt.. 1287.46
Cash on Hand 146,861.85
$331,930.31
The above statement is true. ;
J. W. Grubbs, Pres.
Chas. G. Henry, Cashier.
Subscribed to before me this
30th day of / pril 1906.
F. E. VlNING,
Notary Public.
: My commission expires Sep
I tember 1st, 1908,
1 . ________
terest in the peeple’s business.
He pointed out some suspicious
printing bills. He hinted at
: scandal. Whereupon there was
a cut in the printing that saved
the taxpayers $35,000 a year.
The politicians began to sit up
and ask. “What is IVcker up
4. - O ) !>
to.
The young man decided to run
for alderman in his ward. The
politiciamHwed to beat him, but
1 he made a house to house can
vass and won. The question of
the municipal ownership of the
plppfrir* lio-ht nlsnt was nn
Becker’s society friends owned
the plant. Of course, he would
not vote with the “dreamers”
and the “socialists.” Becker
took a postal card vote of his
constituents and did that very
thing.
He was put on the tail end of
the fire committee. Thereupon
he put a fire alarm into his room
and responded at every fire.
Moreover, he had a huge coffee
pot rigged up on the end of his
stanhope and from this he served
hot coffee to the fire fighters.
His society friends began to call
Becker “a queer sort. ” In point
of fact he was only humane and
a wideawake friend of the peo
ple.
Finally Becker came out inde
pendently for mayor. Now!
The machines of both the politi
cal parties coupled themselves
together to run over him. The
puulic service corporations
poured money into the campaign.
No newspaper in Milwaukee
would support him. He started
one of his own for campaign
purposes. He printed hot stuff.
Becker told the voters that
their city government was owned
ana operatea oy tne street ana
steam railways. He promised
clean government and a “greater
Milwaukee.” In the face of or
ganizations and money and in
fluence he was elected.
The young millionaire has
demonstrated what a rich young
man who takes up the cause of
the people is able to do. The
old-fashioned virtue of honesty
is not yet played out in politics.
It needs only to be mixed with a
little shrewdness and plenty of
persistence. Sherburn Becker
might still be leading th« ger
man in Milwaukee—a perfumed
nothing. But fortunately he
was born graft-proof. More
fortunately still, be was born
good American and staiasLou .
There is a fine openil
rich young man who*
friend the people in our\
— Memphis News-Seimid
WE ARE NOW READ
TO SHOW YOU
THE exclusiveness of pa
viewing our selections
3 DAYS
Cut Price Sale, For Tiifree
THURSDAY, FRIDAY AND
MAY 3d, 4th, and 5t
ON
STEIN-BLO
All $15.00 Men’s Suits at . .
All $18.00 and $20.00 Men’s S'
All $22.50 and $25.00 Men’s/1
NOTHING CHARGED. NO
W"-V % J i X «l«UT(MO>Mtl >
Don t rj | Njur
Forget ffi/f
the Dates, lly u'
=~~==May 3d. 4th an
3 DA
m