Greensboro, March 1—A petition asking that J.L. Jackson of Salisbury be declared a bankrupt has been dismissed by Judge E. Yates Webb of Western North Carolina Federal District court, upon request of the petitioners, A.B. Carter of Gason county, the Bank of Rockwell, Rowan county, and the People’s Bank of East Spencer.
Reasons for asking that the petition be dismissed are not known. Jackson is under bond of $10,000 to appear in federal court here in June to answer charges of violation of the national banking laws in connection with the failure of the People’s National Bank of Salisbury. He was a member of the board of directors of the bank, also a member of the board of directors of the Mecklenburg Mills Company, with whose paper the bank was heavily loaded when it failed last June.
When the petition that Jackson be declared a bankrupt was filed with the court here, the answer was made returnable on February 18, and later the case was continued to February 28, but consent of attorneys for both sides. Specific allegations of insolvency were cited in the petition.
From the front page of the Concord Times, Monday, March 3, 1924
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