Cooper's Bank Paid Dividends Despite Loss, Feb. 12, 1924

Cooper’s Bank Paid Dividends. . . Showed $8,000 Loss at End of Year But $12,000 Was Divided Among Stockholders to Keep Up Appearances

Wilmington, Feb. 11—Evidence to the effect that the Cooper bank here paid dividends amounting to $12,000 in 1921, although it showed an operating loss of $8,000 that year, and that Lt. Governor W.B. Cooper told a National bank examiner this was done because passing the dividend “would be harmful” featured the trial today of the State official and his brother, Thomas Cooper, on charges of conspiracy in connection with the failure of the Commercial National Bank. The early portion of the day’s session in U.S. District Court was taken up with the introduction of additional records and letters by the prosecution.

From the front page of the Wilson Times, Feb. 12, 1924