Cooper Says He Can't Reimburse Depositors and Creditors of Failed Liberty Savings Bank, Nov. 29, 1924

Cooper Says He Can’t Pay Back. . . Claims He Is Unable to Raise $165,000—Resigns from Board

Wilmington, Nov. 28—Declaring that it will be impossible for him to raise the $163,000 to make restitution to the depositors and creditors of the defunct Liberty Savings bank, Thomas E. Cooper, former president of that institution, recently sentenced to serve eight years on the roads or make restitution of money lost in the failure of the bank, yesterday afternoon returned to Mullins, S.C., after resigning as a member of the New Hanover county board of education.

Cooper made a statement to the press just before leaving, reading as follows:

W.F. Jones, who, with Herbert McClammy and C.D. Weeks defended Cooper to the ‘supreme court would be completed in due time. Hearing of the appeal will take place about the latter part of March. Decision would hardly be handed down by the higher court before the first Monday in May.

Cooper’s resignation as a member of the board of education addressed to Herbert McClammy, chairman, follows:

“I herewith tender my resignation as a member of the board of education of New Hanover county, to take effect at once.”

From the front page of The New Bernian, Saturday Morning, November 29, 1924.

newspapers.digitalnc.org/lccn/sn96086034/1924-11-29/ed-1/seq-1/#words=NOVEMBER+29%2C+1924