Rensselaer Semi-Weekly Republican, Volume 40, Number 31, Rensselaer, Jasper County, 24 December 1907 — About the Remington Bank. [ARTICLE]

About the Remington Bank.

“■“ 1 The following is th# notice Robert Parker posted on the door of hie bank Thursday noon: * “Since the closing of the Good land and Fowler banks and the demands upon us by both the county treasurers of Jasper and Benton counties, we are unable to continue paying out money, and are simply forced to close our doors. The First National bank has been sold to Mr. E. L. Hollingsworth and his associates, and they will protect it, but I will be compelled to go into liquidation. I will turn over every dollar I have in the world to pay my debts so far as possible. •* Sorrowfully, Robekt Pabker.” Mr. Hinshaw, the bank inspector in charge of the bank, went to Indianapolis this Saturday morning, and gave out no statement regarding the bank’s liabilities or resources before leaving.

The day of the bank failure Mr. Parker stated to the editor of the Republican that he had exhausted every resource to secure currency to meet the demand of depositors. It is therefore not improbable that the failure will be an exceedingly disastrous one. The belief that it will be, is further augmented by a telephonic communication from Remington which is to the es feet that as the condition is understood the more the less favorable it looks. . X. The act of Emmett L. Hollingsworth iu buying Mr. Parker’s stock in the Remington First National Bank has served tocreat confidence in that bank and the town’s business is being dune thru it. The popularity of Chas. G. Beale and Hartley Church and the assurance that the bank’s paper was all good and that currency enough was on hand to meet all demand deposits, has satisfied business people and all who have occasion to do a banking business in the town.

County Treasurer 8. R. Nichols had only about $21,000 on deposit there and he procured all but about $460 of this amount. Mr. Nichols’ bond is signed by the directors of both she Rensselaer First National and Jasper Savings and Trust Co., and in addition to this it is stated that Mr. Parker gave an indemnifying bond in the sum of SIO,OOO to secure Mr. Nichols in the collection of tazesin Remington and Carpenter township. This would cover any loss that Treasurer Nichols and his bondsmen might otherwise f 11 fcr. At Remingtou tbe bank failure is the all; absorbing top’c of conversation, and yet business does not seem to be materially effected.