Greensboro News
J.D. Norwood, Salisbury banker and cotton mill man, was declared bankrupt in an order signed yesterday by Judge James E. Boyd, of the western district of North Carolina, and is ordered to appear before John M. Robinson, referee, in Charlotte, December 1 to file a schedule of his assets and liabilities.
The order follows the petition filed August 27 by H. Kempner of Galveston, Tex., S.A. Patterson of Richmond, Va., and W.F. Ford, receiver for the Bank of Quantico, Quantico, Va. They filed claims as follows: Kempner, $9,241.48; Patterson, $10,000; Ford, $11,800.
Yesterday’s action is another step in the tangled affairs of the well known Salisbury man that started when a receivership was sought for cotton mills in which he was heavily interested. These included the Mecklenburg mills at Charlotte, the Clyde and Newton at Newton, and the Nancy in Montgomery county. Later banks in which Mr. Norwood was interested were closed, either voluntarily or by the state examiner.
The mills were placed in the hands of receivers and were later adjudged bankrupt. Consequent action was started against Mr. Norwood personally and the order of Judge Boyd yesterday results from that.
From the front page of The Concord Daily Tribune, Nov. 17, 1923.
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