Newspaper Page Text
LEXINGTON BANK HAS
LONG BEEN SHAKY
Beports of Bank Examiners?Governor
Blease Takes Hand in
Columbia, March 26.?Reports as to;
the condition of the Lexington Sav-,
Sngs bank, of which W. P. Roof is
TYTAsidpnt. were made known in Gov
ernor Blease's office today, the originals
having been furnished upon his
request to State Treasurer Jennings:
"Of these four mills, W. P. Roof is '
president, and Allen Jones secretary
and treasurer. The above listed excess
loans constitute the loans and discounts
of this band, with the exception
of about $20,000 scattered among
the small depositors. This fact alone
speaks loudly of the disregard of
banking laws, and the lack of a board
of directors to direct In addition to i
the above, W. P. Roof has turned over j
to the Lexington Savings bank some
real estate titles for 1,142 acres of i
land, and is saving some carried on j
ibooks as other real estate; these are !
not recent purchases for investment,
but are simply additional moneys loaned
to W. P. Roof, and proceeds were
placed to his credit (admitted.) A
glance at the totals above will show
that W. P. Roof, Sam P. Roof, (his j
son,) his four mills, nave uuuuwcu|
a total of $215,904.71, and in addition
to this amount the 'other real estate'
of $25,000, is a loan to W. P. Roof, $1,- !
000 is loaned his wife, $2,500 to Roofj
& Barre Lumber company (Inc.), $3,100.91
to Lexington Supply company,
(his son secretary and treasurer,) and 1
$11,598.92 to J. P. Clark, who works i
TV. P. Roof's land, lives on it, ships
all rosin and turpentine in Roof's
name and is admitted to be worth but i
a few thousand dollars over his debts, I
owning only a small tract of land.
"A careful scrutiny of the above list j
of loans would fail to locate any:
amount of tangible collateral; that is,1
in comparison to the total of the loans,
surety being practically based on
~ ^ 4.
worth of owner of banK. tuneiiL,
rate, 7 and 8 per cent.
"Loans are approved and passed on j
by president, and his son."
Above is the comment by Assistant i
Bank Examiner T. C. Dunlap in his
report on the condition of the Lexing- i
? ?_ ? ^ T Atrinafnn /YTtrn- ]
ton Savings oaim, ui JUCAlllgwu, Uiiu
ed by W. P. Roof, now in the hands of
a receiver. The report, which put the j
bank in the hands of a receiver, was
made on February 6, of this year, and
filed in the office of the Secretary of
Blease Writes Bank Examiner.
Columbia, March 26.?"I consider |
your failure in this matter derelec
tion of duty and unless you can give
a satisfactory explanation I would advise
that you tender your resignation
at once," wrote Governor Blease to
State Bank Examiner B. J. Rhame,1
this afternoon in reference to the reported
failure of the bank examiner}
to notify him of the condition of the j
Lexington Savings bank, now in the:
hands of a receiver. The letter of the j
governor to Mr. Rhame is as follows: I
March 26, 1912?Mr. B. J. Khame,
State Examiner, Columbia, S. C.?
Dear Sir: I notice from reports filed
February 5, 1912, March 3, 1911, and
April 15, 1910, that the Lexington Savings
bank has been in very serious
trouble for some months. I also no
itice Mr. Wilson, your predecessor,, in
1910, says in one of his reports: 'Full
report submitted to governor for re- j
view and advice. Schedules B and C
"Will you please be so kind as to advise
me why you did not call my at- j
tention to the condition of this bank, j
particularly when you and your as-!
eistanis knew that the supenintendent
of the State penitentiary had many :
thousands of dollars deposited therein,
otia? nicn that nnmitv trpasnrpr of
auu I'UUk' UUV V V
I^exington county had many thousands
of dollars of the county's money deposited
therein. If you had called my
attention to this matter as Mr. Wilson:
did Governor Ansel's attention, I
would hare immediately, upon the filing
of your report on February 1,
1911, ordered that proper proceedings
be instituted to protect the interests.
of the county and State. I consider
your failure in this matter derelic-!
tion of duty, and unless you can give j
a satisfactory explanation I would
advise that you at once tender your
resignation as State bank examiner,
and save any further unpleasantness.
We do not want in this State carelessness
or negligence in office; ignorance
is no excuse. I would also
be glad if you would advise me why
you did not act in accordance with
Section 3,251, new Code of Laws of
South Carolina, when you found the
~ ? V.A T A\'*n O-m-n C!o Vlliorc
CUIIUIUUIJ i JC-viii ?jauiibo
bank, one year ago.
Cole. L. Blease,
IJIease Calls for Reports.
Columbia, March 20.?Governor
Blease today addressed letters to State
Treasurer Jennings asking for reports
of the State bank examiner on the j
Lexington Savings bank and also
wrote a letter to Attorney General j
Lvon asking: for a copy of the report i
which. Stat? Bank Examiner Wilson !
made on the condition of this bank in j
1910 to Governor Ansel ana referred ;
to the attorney general. The letters!
March 26, 1912.
Hon. R. H. Jennings, State Treasurer.
Columbia, S. C.?Dear Sir: You
-will please furnish me immediately |
the original, or certified copies, of all j
reports in your hands in regard to the j
financial standing of the Lexington j
Savings bank, made to you or filed'
with you, during the years 1910, 1911
You will also please furnish me the:
original or certified copies of all re- j
ports made by any officer of the State |
or county, during said years, in re- j
gard to the financial condition of said j
KonL- xrhioh fire nn file in vour of-1
This request is based upon Section
14, Article 4, Constitution of the State
of South Carolina, 1895.
I desire this information immediately
as 1 think some steps should be taken
at once to protect the interests of
the State and county in regard to the
deposits in said bank; and, I desire
J +V>? Tmrnftcp nf
LUIS illiUI XliclLiWii iui me yi/w
taking or having such action taken
which I deem for the best interest of
the State and county. Why action j
was rot taken when conditions were
reported by the examiner in 1910, I
do no: know.
Cole. L. Blease,
March 26, 1912. f
Hon. J. Fraser Lyon, Attorney General,
Columbia, S. C.?Dear Sir: I j
find in the original files of this office
the following letter:
"Spartanburg, May 2, 1910?Governor
M. F. Ansel, Columbia, S. C.? j
Dear Sir: On March 14 I addressed a;
letter to you expressing my opinions
of, and fears of, the Lexington Sav-1
ings bank, Lexington, and enclosed
therewith a detailed report 01 my rc- i
cent examination of the bank.
"Please advise me if you have received
this letter and report.
Yours very respectfully, j
(Signed) "Giles L. Wilson,
"State Bank Examiner."
I also find the iouowing leuei.
"May 3, 1910. |
"Mr. Giles L. Wilson, State Bank
Examiner, Spartanburg, S. C.?Dear j
Sir: I have your letter of the 2d instant
with reference to the letter you!
addressed me in re the Lexington j
Savings bank. I immediately sent;
+v,i"~ lottn-r and the rp-nort vou sent ir.e
lVHV,i UiiVA VMV - _ ^ _
to the attorney general, asking him1
for an opinion upon the question you j
submitted to me. I have not yet heard
from him with reference to the matter,;
and I am writing him again mis morn- :
ing. As soon as I have an answer j
from him, I will send you copy of it.
"Yours very truly,
I have made search for the report!
herein mentioned, and if the same has |
been returned to this office by you, 11
am unable to find it. You will, there- j
fore, please return said report im-!
mediately to this office and give me
such further information as you may
have in your possession touching up-!
on the affairs of the Lexington Sav- j
This request is based upon Section i
14, Article 4, Constitution of the State j
of South Carolina, 1895.
I deem it highly important, from information
coming to me from reliable
sources, that immediate action should
be taken to protect the interests of
the county of Lexington and the J
State of South Carolina in regard to |
^ /jonncitc in Raid bank, as, from!
these reliable reports, I am of the
opinion that unless something is
done quickly, both the county and j
State will be heavy losers?in fact, I !
have some doubt if they can, at this
late day, be saved. Why action has
not been taken earlier, I do not know;
and. having not had the information, I
could not act.
(JOle JL. i5iea.se,
Khame Will Reply to Governor.
Columbia, March 27.?Quite a sensation
was created here today by the
story which appeared exclusively inI
the News and Courier in reference to \
the Lexington Savings bank, which is j
now in the hands of a receiver, and
which was owned and controlled by
Mr. W. P. Roof, of Lexington. Not
least among the matters of interest
i involved was the letter addressed by
Governor Blease to State Bank Examiner
B. J. Rliame, in which the latter
was called upon to make explanation
of why the reported shaky condition of
the bank had not been reported to the
governor and why action had not been
taken to protect the interests of the
The development, which is attended
with much interest is the reply
which Bank Examiner Rhame will
make to the governor's letter. Mr.
Rhame came to Columbia today, in reference
to the matter, but as yet has'
no statement to make. Efforts to get
a statement from Attorney General i
Lyon were unsuccessful, as he is not
at present, in the city.
Today saw practically no development
in the matter, except the ex
J- * TTT * I
pianatory statements Dy .Aiessrs. w. a.
Clark and Wilie Jones in reference to
their names being mentioned in con-;
nection with endorsements of papers:
carried by the bank. I
State Bank Examiner B. J. Rhame,
when seen by the News and Courier |
representative this afternoon and ask-!
ed if he had any reply to make to the :
letter Governor Blease wrote him yes- '
terday, said that he had received a I
letter from Governor Blease this I
morning and that he expected to make j
1 __ -j. - x ? "t? _ 1.1 ^
a repiy 10 it as eariy as jjxa.uuua.uic.
Governor Blease had no further!
comments to make on the Lexington
Savings bank situation and Attorney
General Lyon is out of the city.
There were no new developments ?in
the case of the Lexington Savings
bank, of Lexington, which was owned
by W. P. Roof, and which is now in;
the hands of a receiver.
ADDRESSED TO HELL, S. C.
And Postal Clerk Endorsed it "Try
Hampton, March 25.?The United
States postoffice at this place was
heated lip this morning for a few!
A,- 1 il,. 1 1
minuuss wueii me pusua,i uieiiv iicic |
found in the mail a package addressed;
to "C. Apherin Mission, Hell, S. C.,"(
with, an endorsement of a postal em- I
ployee thereon reading "Try Hamp-,
ton." The sender of the package was |
a person in Chicago, 111., by the name
of Smith, in fact, John Smith, who,
1L IS Sld-ltJU, lb <X 2SI>11 Ui :ui. anu iuio.
Smith, of the Smith Manufacturing |
company. The citizens of this place i
are justly indignant at having this insuit
heaped upon their dear town. The
package directed to Hell, S. C., will *
be forwarded to some other place that j
can boast of a warmer climate than ?
Doctor?"You admit that I cured J
you of insomnia, then why don't you c
pay my bill?" Patient?"Sorry, doc,,"
but I sleep so soundly now that my S
wife goes through my pockets nights j?
and takes every cent."?Boston Tran-! _
When you feet |!
vous, tired, worried or despondent it is a s<
sure sign you need MOTT'S NERVERINE ^
PILLS. They renew the ncrmal vigor and i p
make life worth living. Be sure and ask for | p
Mott's Nerverine Pills ?$*
WILLIAMS MFG. CO., Props., Cleveland, Ohio
W. G. Mayes, Druggist, deserves;
praise jfrom. Newberry people for in- n
troducing here the simple buckthorn J
bark and glycerine mixture, known as ^
Adler-i-ka. This simple G-erman rem- j c
edy first became famous by curing ap-1
pendicitis and it has now been discov- 0
ered that A SINGLE DOSE relieves, v
sour stomach, gas on the stomach and ; a
constipation INSTANTLY. It is the j ^
only remedy which never fails.
The County Board of Equalization ~
is hereby called to meet in the office
of the County Auditor on Saturday,
March SO, at 11 o'clock a m. sharp, j
Eugene S. Werts,
3-19?3t. County Auditor.
NOTICE OF FINAL SETTLEMENT.
Notice is hereby given that the undersigned
will make a final settlement s
of the guardianship estate of James ?
Bernard Shackleford, minor, in the office
of the Probate Court for Newber
?x 11 ^.'^1 tv* + V? r?
TV COUIliy cil I1 u uiuca a. axa., wxxv ,
20th day of April, 1912, and immediate- j
ly thereafter apply for a discharge as ' l
Guardian of James Bernard Shackleford,
March 19, 1912.
NOTICE OF FINAL SETTLEMENT.
Notice is hereby given that I will j
make a final settlement of the estate
of Bertha Lee Banks, nee Bertna JLee
Hendrix, in the Probate Court for
Xewberry County, South Carolina, at
| 11 o'clock in the forenoon, on the 6th
! day of April, 1912, and will immed
' iately thereafter apply for a final dis- <
charge as the guardian of trie person jj
and estate of the said minor.
T. C. Banks,
Newberry, S. C., March 2, 1912.
BIBLE STUDY COUPON.
Bible and Tract Society, 17 Hicks
Street, Brooklyn, N. Y.
Kindly send me the Bible
Studies marked below:?
"Where Are the Dead 7"
"Forgivable and Unpardonable
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"What Say the Scrlpturea Respecting
"Rich Man In Hell."
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"End of the Age la the Harvest."
"Length and Breadth, Height
and Depth of God's Love."
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T.lmi.* On m Ptttnu.p la RirpI.
Will V % W? ? * VI >w .
"The Risen Christ."
"Foreordination and Election."
'The Deeire of All Nations."
"Sin's Small Beginnings."
"The Coming Kingdom."
I "Spiritual Israel ? Natural Israel."
"The Times of the Gentiles."
"Gathering the Lord's Jewels."
"Thrust In Thy Sickle."
"Weeping All Night."
"Every Idle Word."
"Refrain Thy Voice From Weep
"What Is the Soul?"
"The Hop* of Immortality."
"The King's Daughter, the Bride,
the Lamb's Wife."
"Pressing Toward the Mark."
"Christian 8cienoe Unscientifie
"Our Lerd's Return."
"The Golden Rule."
The Two Salvations."
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Upon receipt of the above coupon
we will send any one of
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cents. SEND AT ONCE TO
THE BIBLE AND TRACT SO
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Sidney and Bladder Troubles and
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and Quickly to Treatment with
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foggsrd Specific Co.. Atlanta. Ga.
Gentlemen:?I have used your tablets for indigestion
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would cheerfully recommend your tablets as a
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Vm. E. Pelbam & Son, dewberry, S. C.
5i!esI Files I Piles!
Williams' Indian Pile Ointment will cure
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niliams' Indian Pile Ointment is pre- j
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(ILLIAMS MFG. CO., Props.. Cleveland, OhI?>,
NOTICE OF FINAL SETTLEMENT, j
Notice is hereby given that I will
lake final settlement of the estate of j
. H. Dominick, deceased, in the Proate
Court for Newberry County South
'arolina, at 11 o'clock in the forenoon,
n the fourth day of April, 1912, and
rill immediately thereafter apply for
final discharge as administratrix of
he estate of the said deceased.
Mrs. Alice Dominick,
SOUTHERN RAILWAY. |
chedules Effective December 3, 1911.
Arrivals and Departures Newberry,
(N. B.?These schedule figures are
hown as information only and are not
8:51 a. m.?No. 15, daily from Columbia
to Greenville. Pullman
sleeping car' between Charleston
1:50 a. m.?No. 18, daily, from Greenville
to Columbia. Arrives Columbia
1:35 p. m., Augusta 8:35 p. m.
Charleston 8:15 p. m. j.
2:45 p. m.?No. 17, daily, from Columbia
9:05 p. m.?No. 16, daily, from Green- ,
ville to Columbia. Pullman sleeping
car Greenville to Charleston.
Arrives Charleston 8:15 a. m. Arrive
Savannah. 4:15 a. m. Jack-'
sonville 8:30 a. m
Four further information call on
:icket agents, or E. H. Coapman, V. P.
P- ^ "H7o oVi in erf nn n P. * .1 T.
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Now is the time to subscribe to The
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>*OTICE OF FOAL SETTLEMENT.
Notice is h Teby given that the undersigned
will make a final settlement
of the estate of Mrs..Emma Koon, deceased,
in the Probate Court for Newberry
County, South Carolina, on the
' nf Anril. 1912. at 11 o'clock in
the for mo:.. jind will immediately
thereafter ' : his final discharge
as admiuir-t <f said estate. All
j persons !io.di :aims against said
(estate will piesoi.r the same at once,
I proved acco: dins ro law, and all paries
indebted fo -aid estate will make
A. P. SHEALY.