Jasper County Democrat, Volume 12, Number 36, Rensselaer, Jasper County, 18 August 1909 — TIPTON BANK LOANS BAD [ARTICLE]

TIPTON BANK LOANS BAD

Examiner Says the Directors Did Not Meet Often Enough. Washington. Aug. 17 —Deputy Controller of the Currency Fowler, who spent part of last week Tipton, Ind.. investigating the affairs of the First National bank, is back at his desk in the treasury department He says the Tipton bank Is now per fectly solvent, and there is no danger whatever. Another official says the trouble would never have happened if 'he directors had held meetings aDd examined loans As it was. it was very much of a family affair, and one or two men exercised absolute control Ead loans, he said, were made, speculations permitted and the crash followed