Examiner Haywood in
Charge Until a Receiver Can be Appointed…Charters by the State
The corporation commission, upon the report of Bank examiner
F.J. Haywood Jr. that the Bank of Rutherfordton has conducted business in an
unsafe and unauthorized manner, jeopardizing the interests of depositors, and
is now insolvent, orders the examiner to take charge until the commission has a
receiver appointed to wind up business. D.F. Morrow of Rutherfordton is
president of the bank which at its last statement showed assets $31,518,
capital $10,000, deposits $18,518.
Charters are issued to the Berryhill-Suther-Drufee Company,
Charlotte, wholesale and retail shoe business, capital $25,000; the North State
Bobbin Company, Mount Airy, capital stock, $25,000; the Lee-Dupree Hardware
Company, Dunn, wholesale and retail, capital stock $50,000; the Interstate Machine
and Supply Company, Wilmington, T.D. Olive, R.W. Gibson and other stockholders,
capital $50,000, half subscribed.
Other Business News
The King-Crowell Drug Co., of Raleigh, was today chartered
to conduct a wholesale and retail business in this city. Incorporators are C.B.
Crowell, formerly identified with a drug business in Charlotte and later
proprietor of the Crowell Drug Store here, and Ed C. Birdsong and W.H. King,
for many years prominent in drug circles in Raleigh. The company is capitalized
at $20,000.
The news from State Treasurer Lacy today is that his
condition is so much improved that it is hoped he will be able to sit up
Saturday.
Important changes are to be made in the Union passenger
station here which will make it much more convenient for the public, especially
for ladies.
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