The Courier News from Blytheville, Arkansas on November 17, 1930 · Page 1
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The Courier News from Blytheville, Arkansas · Page 1

Blytheville, Arkansas
Issue Date:
Monday, November 17, 1930
Page 1
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Served by the United Press BLYTHEVILLE COURIER THE DOMINANT NEWSPAPER OF NORTHEAST ARKANSAS AND SOUTHEAST MISSOURI VOL, XXVII—NO. 200 Blytheville CXiurler, Blythevllle Herald, B'.jthevlll* Dally News, Mississippi Valley Leader. ARKANSAS, MONDAY, NOVEM1310K 17, liWO SINGLE CQJ>1ES FIVE A. B. BANKS COMPANY BANKS SHUT Hubert Croons Killed When Car Hits Wagon on Highway. Funeral f-reivices were conducted nt Ihc Lcachville Baptist church this morning for Hubert Croons. 19-year-old son of Mr. and Mrs W. II. Croons of that city, who died at the Blylheville hospital Sunday afternoon following cm automobile accident late Saturday niaht. Large throngs attended the Tcr- viccs of the popular young man who moved (o Lcnchville Irom Blnck Rnek,. Ark., less than a year r-ao. The rtev. D. B. Cook officiated and the remains were taken to Eniilhville. Ark., for burial. They were accompanied by his parents, prominent residents ol T rachvlllp, a brother, and an aunt and uncle, Mr. and Mrs. -A. C. 1'ickens, who are the immediate First State Bank of Osceola Closes Rogers Caldwell Will R«tire to Fanning H<; Says SEEK HUGE ST. LOUIS. NOV. n (UP)—Ro;;- crs C.-Uctweil, head of Caldwell and company, investment banking firm I ! of Nashville, Tenii., which, failed j .; Just week, was quoted In the St.' i • • i „„. . . . ;inst week, was quoted lu tho St. p ''ID »' U' » Louisiana and Mississippi'touts st:ir uxiny us tciiing a col - ^ I'uninal. rrosecution nmi- Farm Areas Suffer Tor.;™^.!" 1 ^^™^!?^.^! «l if State of Tennessee Farm Areas nado Losses. T 1 t rc-sponucnt for that newspaper that '01-] depression °* tho securities market was t:. blame for his linancial difficult r ?s. „.»,,,„„_ ,,. The Interview published by (he NATCHEZ. Miss., Nov. 17 (UP)jstar. obtained, by a staff corre- -A tornado which ripped through spondent sent to Nashville, fcj the the delta section of Louisiana and, n , st ,,,-anted by the yoiuig financier Mtwslppl late Saturday nifht s i nc e f a ii m e of the firm lie heads- killed at least five persons nnd injured a scne of others. Because of the isolation of th( ed if State of Tennessee Loses Money. NASHVTL.IJ;, TENN., Noy .17 <u P»— Tracing of the $1,000,000 . in casli and the $3,840.000 in secuprl- lles found in thf: Bank of Tennessee by state -bank examiners, but Caldwell was quoted in the in- which had completely , dlsappekr- terview as planning to sell his sta- • ed on November 0 when the bank ll of race horjes at auction, hope- section where the storm hit and the i tul Catdwell and company might damage lo communication nrler- ics, the numl-,3r of dead and Injur ed could not be definitely ascertain- financial set back. be reorganized, and as intending to lake up farming because of the ed trday. CaUtell, according to the Inler- relalivcs. Mr. Pickens is super-1 A white woman and four negroes ' viewer, said combined resources Ontendent of tiie Leaclivillc school: wcrc known to be dead. The wo-1 "of all our enterprises up to the and Mr. Croons n farmer. The accident occurred one mile •south of Leac'iville about 10 o'clock Saturday night when Croons, riding with his brother arid two girl friends, Misses Ruby Mewed, will receive thc major attention ol Attorney General L. 'D. Smith and may determine definitely whether criminal action may ba luken. the attorney general's office hiis Indicated. General Smith, in a formal statement ol the state-involved funds ttic defunct bank pointed to and Lila Swilmrl ol Lcaohvilie, attempted to pass another machine. I 1 ""' 10 ' 1 . ' lauy His car collided with a wagon, said ! me man. Mr:. George Davis, '25. was j time nur trouble stalled, was :!•»Instantly killed in her home atl,ral hundred millions. I hesitate \ Inn recovery of Ihese "lost assets" Brookhaven, Miss-, while holding i to say what our resources are to her baby in her arms, when her, clay. Caldwell and company is in | would likely recover part or. all 6f hciiK c I'lapsed. The child was un- the lands of a receiver and I am the moneys in thc Bank of Ten- Injurcd. Four negroes were killed at Cre-.vvillc, La., when they were by thc fol ' cc ct to have had its light in the be-J I Numerous fann dwellings were of the vehicle. A blunt, instru- ' demolished and an estimated imminent. believed to have been thc ber 0[ 'ivc.'tcck was killed through- broken wagon tongue, was driven through the windshield and into the youth's skull on the left side of his forehead. of his forehead. i None of the car's other occu- j I ,pant£, a farmer named Jaco, the; |_ rich farming sectiui. wagon driver, nor thc six other persons In the wagon were injured. One mule was killed and both tho auto, and wagon damaged. Young Croons was brought to the Blylheville hospital by the N. , . Howard Undertaking- Comp'anf'ati-.i W/'lif n - Jin n - f bulance of Leachville where he 1 WHi.KernOdel Kear Tart- O) (lied yesterday at 4 o'clock. Funeral a/rangements ' were in charge of thei Howard Undertaking company. Main and Parents and Patrons Invited to High School Building at Broadway. B A. Lynch, who announced lo! day that lie had purchased the B. F. Gay building cccupied by the for company irocery, fa having ! 'i the-building rcmodebd Tuesday and Wednesday are : store or office rooms.' visitation days at the city high i Approximately S30.COO is involved 'In the purchase and improvements school. Parents and patrons of the city of the property at Main and National Bank of Kentucky In Charge of National Bank Examiner. T OUISVTLLE, Ky. r Nov. 17 (UP) — The~ Natinn al Bank 'of Kent ucky, capitalised at S5.000.000 and an affiliated bank, the Louisville 'Trust company, failed to oi»n thter doors today and the former was taken over by a national bank examiner. A notice posted by the b'ord ol directors and signed by Russell E, Mouney, national bank examiner, said the national bank was solvent but had. been closed "to conserve its icscurccs f.u- creditors." The national bank claimed, resources of $50,000,000. James Brown, president of the nessee. General Smith expressed a be lief after a preliminary examlna- lion that these assets arc the property of the Bank of Tennessee and therefore should be restored there for settlements with creditors. '»< ' hank examiners found $1,. 000,000 in casli and the demanded 53.840,000 in securities addttlon- | al to assure solvency of the bank 1 These securities were furnished and ' listed as assets of the bank, whereas on the date of the bank's closing only $32.55 in cash was found and the entire $3,840.000 securl lies had disappeared. General Smith has refused to comment on the probable crimlni prosecution olher than to pledge himself that either Individuals''* groups will be prosecuted if grounds are found. arc invited to visit this school for Broadway, facing south. The brick]LOU' observations while the usual class- structure wa.4 erected in 1918 and' es arc carried out in usual form. for man.v years was the.h-sne of- This is being done, according So Cross Grocery and Bakery. The Crawford Greene, superintendent, part now being remodeled by John Banco-Kentucky ancV owner 'of a r-ivsnauer is nresteent orranLed in 1834^ Ifc.fu ckv It t^era^ * ,s a part of a program of coopera- Anderson, contractor, formerly oc- t ^ ne parents, pupil: cupied by the bak.?ry, faces Broad- ; tion between nnd teachers. Daughter of Missouri Senator Weds 1 numerous The- notice said: r-ted by Moone, Chapman-Dewey Engages \Viis Davis as Specia Prosecutor. OSCEOLA, Ark. — The trial o "This bank is under the direction of the comptroller of currency. It Is in charge of Russell E. Mroney. hiaticnal bank examiner. It was rectors, November 16, 1930." • Brown later issued the following statement: •DiiC't'i withdrawal;! in the past I week- and constantly increasing J| rumors on the streets it was dt.3m- cd advisable by a majority of the : for Chapman-Dewey Lumber Com pany, on a charge of embezzlemenl set for Tuesday, has been contlu ued by agreement of attorneys til December 10. The men arc at lib The Situation Here Is Sound There is no reason for residents of lilythevillc to bo- come (ikrmwt because nf Hie sitiiHlion llwl has develop«l iti Hie all'iniK of n cliiiin of Arkiuisus bunks in which, until very U'cenlly, Calilwell mul Company, Tuiinessce iiivcslinciil bunkers now in the hands of n receiver, were interpstod. The Cnldwcll failure, (lie sns|ieiisioii of the' A. K. Hanks Ijunks, can have no jKwsiule clfect upon our local banks. Not only nre tliey independent of any conceivable adverse outside influence, but they are in exceptionally 1 sound condition. They are collecting their crop loans almost 100 per cent, .they have kept tlieir assets in such form as fo ennble thorn to meet depressed business conditions with confidence. It is to" be hoped and, we believe, expected, that the closing of tho First State bunk of Osceola will result in no pcrnumcnt loss lo its depositors. Information available today is that this bank, along with others in thc Hanks chain, is solvent but was closed out of ftsir tlmt closing of tho American Exchange liank and Trust company might result in a run upon affiliated institutions. . . . Whatever Hie outcome there, however, the thing for every resident of Blylheville-and Mississippi county to do is to tend to business as usual. We have pulled through one of the worst crop years in our history in better condition than almost any other county in the state. If we keep our heads and look to the future we can count on pulling 1 out of our present difficulties in tho hot very distant future. We can't do it by permitting hysteria 'to supplant common sense in our reaction to occurrences elsewhere which really have no vital bearing upon ourselves. Free Cooking School Qpens Tuesday Afternooji at 2;3( Hundreds of housewives of Ely-, rllle last night, eltted over . tl thevllle and vicinity will make the , wonderful interest displayed by tl city hall auditorium their mecca housewives in the city'; and vlclr tomorrow as soon as thtir luncheon ity, and in an Interview today d details are over. ' ' | dared that her every effort' will b Present indiactions pqjnt to over- j >* n t' toward- leaving >'n-uidellbl flow throngs at the auditorium long ana hU>«'y Instructive message _i before 2:30 arrives, tlie-hour at I tn « minds of all attending. P^eas which Mrs. Myra Dougan, nation- j»nt surprises, and'entertaining in ally famed domestic scientist an* «"«t"n™= >.Av..h«.n ^M^- , home economist will be formally' introduced to the greatest feminine assembly in Blythevllle within recent years, thereby Inaugurating the Courier News Cooking School for 1930. -Never before in the history of Blytheville has there been such a widespread interest In improvement of culinary standards and a mnrn complete knowledge of modern kitchen hygiene and food evaluation. The Courier News Is Indeed gratified at the tremendous resnonsc evinced over Its efforts to foster this year a cooking school that will chirged w ; itti'embj^ii"ng oVer'sio" "tabllsh new records both In at- C-1 (rom the lumb-r company t« n d»rice and in general attrac- which operates a piling yard at Uon - Co-operating mediants, ar Reiser, nine miles west of here wc " ns tt:= Courier News ranna'ie- WIls Davis. 'Memphis attorney ,.u,,= UJ » ....^..., - 1 ' 1 " bc; " retained by Chapmnn- Jlu of directors to closa the: "ewey a;: a special prosecutor in tank at le^t lomp-.rarlly. for the j the cas = assisting D. F. Taylor. iu!e:-(;sti '.' the de'pMi'.ori- and all | °tputy prosecuting attorney of 05- ccnccrned." j '" V . ^r . ^ defendan Two Others Close ! an ^ Ma"in Watittns of LOUISVILLE Ky., Nov. n. (OP) j Kn lgM, It Is alleged, entered a -The Louisville Security tank and j ?°. n ?P_ 1 . rac y. wlt h Hatley whereby th»lr entire novations " have been lighllghts; in the p'rOBram., 'Mr joiigan will be glad to 'answer ques :lons both from the floor and i the :• conclusion of .the lecture, time permits. • The elaborate preparations Hi have been in the making for seers! weeks, seem entirely jnstlfi' as the hour, of thc opening leclu arrives, and it Is hoped that eve woman possible may be seated fore the lecturer takes the rtlatfor in order that absolute attention m be devoted to Mrs. Dougan's r marks. Tomorrow's lecture will be tlw first of a series of four on consecutive days, to be held at the *iim- hour In the city auditorium. Every woman in Blythevllle and vicinily Is invited. Admission is absolutely free.. Every woman render of thc Courier News, interested in home hv- gtene, improvement of cooking, the very latest word in home econom- nce discover- CT1FQL lississippi County Institution One of 3'3 in A. B. Banks Chain. Tho First Slate bank of Osccota illed lo open its doors .this inorn- ig. The bank Is a member of the . B. Banks chain of which the par- it bank, the American Exchange ank and Triut company at Little ock, and 31 other affiliated banks .so failed to open this morning. A notice placed on the door of 10 closed institution slated tlmt Ticials of the bonk had suspend- the business of the bank for five nys. The First Stale bank was rc- rgunlzcd mil of the old Citizens cnk by the A. B. Baiiks company evcrnt years ago. A number of Oscola men are ulso directors of the ank, It is understood. A check-up today revealed that ver 139,000 wan on deposit with the 'Irst State bank by various coun- y offices .Of this amount $25,164.43 was deposited with the bank by the ounty treasurer, which is covered y depository bonds' with- the Home nsurance and Accident company bf ,lttlc Rock to the extent of $85,- XM>, Approximately $13,000 was on deposit at the bank by the sheriff's ofllce. This Is also covered by sure,y bond. W. W. Holllpeter, circuit court clerk, had $1,000, which lie i»d been ordered by the chancellor to hold, on deposit with the bank Total depo&lts of. all clones-with the bank, according to its Ust published statement; were |JM,47T&I It la'stated. - ' • " .''-'_;. '" L: •!,. Sumners. cashier bonk, ' nk, could not be; reacHeditotf a kIemA>t- todi^bvV It -ti reiiJiiy: repWed Hint the First 8t»t» bank closed by orders from the parent office at Little Rock because of the conditions created by the'closing of ether institutions and to prevent a run-on the bank. Local affairs'of the bank were in good shape, It Is believed. - '- • "•• .-'• ' Little excitement attended the closuig of the bank according to reports.' Suspension of business oh the part of'the First State bank had little or no. effect on the Bank of Osceola, it was said. IN mm mm Action Taken, to j Depositors After^Arneri-' i can Exchange Closing.;. .";• LITTLB nOCK. Nov. 17 (UP)^- ' Tlilrty-three Arkansas banks affUi- < ulcd with the A- B. Banks conipiriy ; of Lllllc Hock today hnd taken'M- • vantage of tlw stale law pcrmUtlrljj j temporary closing for five days aiid j '. suspension of payment on depriits. ! The lltl Included two of the tog- I. pst banks hi Arkantas,, the Amefl- '.' can Exchange »nd Trust company > of Little Rock'and the Merchants j. and Plnnters bank of Pine Bluff. "*-"•' Believe Banks Solvent' >;>;•/• i Many, directors reported to•sUte.-;, banking rftlclals they .oelUsred'f ;: their institutions solvent but.jh«d t \ closed temporarily to protect-, de- ; :' po;itors. Closing ot the Ainerlciui', .Exchange and Trust 'company '.tjas ;:v tln> initial sign that Arkansas • .',-state banks were In trouble. ' ' • 11 '; Thc fallowing banks. In which ,A. "-. . 3. Banks is intereited; EUiper%d V mslness temporarily tluVmornlng: Sank of Althelmer, AHlieirner; ;,'_'North Arkansas bank, BatesvUle; ; : Bonk, of Bauxite; Beiiton Bank^i^id Trlist company,- Benton;- Arkaiu»s • State bank, Carlisle; Bonk of Car- ; triage; Farmers Bank, Casai.JjSJnle. • of clarendon. Clarendon; Farmers "» Bank, Dardenello; Eudora Bank j . aiid Trust company, . Eu'dbra'!' ' Hampton State bank; Hamptoh; , Olebourne County bank, Meter | Springs; Merchants and Planters j bank, Helena; Arkansas Bank-'and \ Trust company, Hope; Bank; 1 ht- ± Bouillon, Houstcri; i Merchants .and V Planters bank, Humphreys; First Natlorua bank, Junction City; Mir- .. chants and Farmers bank, Junctibn. ; City; 'Cleveland County bank, ']. fctagsland; Chicoti Trust company, '< • Lake Village; American Exchsrfce j- «hd Trust Company,-itlttle Bio*; ! Pint State .bank, .MorruVn;'-Ar- i tansas Trust; company,' Newpbtt;> j T the American Mutual Savings bank. ' ! nvo '" s "''"" P^ded when the lat lilhe latter negro owned and oper- er delivered st.ipks of piling at thc nted. doted their doors today after ;("""• wnere ne *'« inspects. the National Bank of Kentucky and : M ? ney secllreti ° n the padded in- Itr.e Louisville Trust company failed ; lo!c " was divided between thc two to open for business. ' ' [men, the company alleges, and ac- 1 . cording to a recent inventory the I company has paid for 8.CDO sticks! Moratory Error ' of piling nt 5130 cach ' or a lotal of crowds anticipated, with mum degree of Inconvenience. The doors lo the city auditorium will open at 2:CO o'clock sharp. The ics, and domestic Blythe- ..s, is urged to attend. Voting of Franchise Likely at Special Session o{ City Fathers. The city council will hold an adjourned session of the regular November meeting tonight which will probably result In the granting of a franchise to one of the group of utility firms and individuals who have been seeking authorization to build and operate a butane gas system In this city. The call for the adjourned meeting was issued by Mayor Neill Reed and Aledrmen Tom W. Jackson, Ross D. Hughes and L. G. Thomp- w . ~*«; b«nk. cwceola; Bank ol I ffigburfr : F^%i;- "Perry.^ti^i bonk, Perry; Merchants and Plant-.; as. Bank, and 'Trust company, Pine ; Bluff; Bank , of '• Star City,'..Star i. City; Victoria bank, Strong; .FJ;st ;.. State barik,. StuUgart; -Citlajas : :ank, Thornton; .Bank io'f ' y?m- laseka, and Exchange ' Bank "and : Trust Company,'Dermott. • • . '^ - ;. Three .banks were .officially closed • by. the-state banking department, j their affairs being placed iri^the \ ' hands of state' banking depart U ment officers. These were ' tne. i Bank of .McRae,- the .Bariic ! ' p of !• Branch arid the .Bank of F6iilke,\ i' The American Exchange -. TtiE.t. •; company, with deposits in excess'oj. '.'. $15,000,000' was reputedly. thenaVg- i est bunk In Arkansas. '' y~~ '. A notice posted by officers'of'the ' bank stated that the institution, 1 "in ', the opinion of its board bf direct 1 ' crs, was- still solvent and had vb'&d : to suspend operations for five tiay'i . to protect interestil of depositors^ r : Heavy withdrawals during : past ten days resulted In- _ T __ board's decision .last night to close ; fea bank' temporarily. '''[*. ' Forced by Withdrawals * Lv. .The board's statement follows* • "With deep regret we announce the Mispension of payments to de- poslfrs of the Anwrisan Exchange Trust company for five dayil' as permitted under faction 717, Craw? ! ford and Moses digest of the la\j-s of Arkansas- • : '.\ "This- action Is .forced upon <us by excessive withdrawals totaling - m're than $4,000,COO during ,'$b3 past ten days, following announce- : ment of the financial dlfficultlesjOf son who attended'an infomnl Csldwell and company; Investment meeting last week when P. A. Hor- bankers of Nashville,'fenn^ ' SfnS w Sa ! 1 A " tflntD( ' ^fl" 3 ' I!™' " Itl our opinion the bank Is in' a WALNUT RIDGE. Nov. 17 (UP) 1FPANTO. ARK. Nov. 17 (UP).- sented his plnn to establish a bn- tane gas system here, to the officials. ' All firms for Death of Children ; l ° |«J» JS11I1JC, (IV-^l.iJV t«l,ll f UIULJIU1U1 T-l * J ( J II ' - ^r, . lll.iX ., liui.liiwt'. ,.. fl__,_ J I .1 , j • . ! $10,400 for pilins never delivered -^l"" of undetermined origin cam- T. S. Gay. 53, shot, himself here I. A " flrnls Jnd Individuals win •to its yard's aciucreu ^ J100C(H) damagcs lierc early > yesterday. i haw appeared before thc council day He had been in 111 health scv-' ?L v " io , us »"'« »-llh proposals nave I been Informed that the council mav Susphlon was aroused when th: i hand to actively " | companies. solvent conditlwi and w.j beii^ye that with''.he cooperation of'-qiir depositors a plan can be formedrto re.-.'ime cperati'fns.' • '. "The; af fairs' of Ca'ldwell .'ijna company aire.rernote^.in Arkantas , tonight. Seve 1 representatives probably will'be OP represent their av »'"« nothing, buf. an- excited public ral mind could hae force: th - hope . of recovery. They were married at n socially brilliant ceremony in- Washington, the senator's daughter and the N'ev.- York millionaire, look a.special train to Mew York and there embarked on a honeymoon voyage which will Include an" African hunting', trip and a.- European tour.. Mr. and Mis. Lewis Thompson Preston here arc pictured just before they sailed. She wns MJF.S Eppos Barlow Hawrs. daughter of Son.itor Harry B. Hawcs of Missouri. "[ Knight i further alleged to have ycars , .S'. t fire to thc piling yard when to Blackfish Lake Planter Found Dead in Bedroom vaccine WLLIIIC. cfficcrs apprehending j Campbell. M-., a few him days ago. ' mind could hive forced- the 'closing of this tank. : .-•-..- Hcpe for Reopening "Our offlc.n-s and. cxecn i^e ccm- jmlttee have worked with Invfhcl- I . -„„ . ,„„, ,ai«ii ble c "'rage for the past ton days Taxi Men Get Another ! from-George Faught Store ISrS^^r%5SUS- T« £'.'• ! Ihem and our administratiori for George yaught's store wa;' enler- i Iheir brave fight against ground- Caih attd Pistol Taken to Move Business,; BLACKFISH LAKE, ARK, Nov. "r-tovin? day" for "taxi corner* 1 [ 1 n '.L Look JHatley was arrested at his home 17 (UP)-James Guy Shuford, 53, has^ been"postponed' lt"was"sta'ted : $35 In ciih plst-J stolen, (Continued on. Page : near Rlvcrdale. Ark. F« r W,nmng Season (lardwdf News i was found dead in the bedroom at police headauarters" ;of hls hcme licrc todaVi shot At lhe ^ t . ( c -; wdo • I Faue , ht .'reports! to police head-'tefi hysteria which attacked cur <ju«te». bank. The Cardwell high school basket- . NEW ORLEANS Nov. 17. <UP)ball squads were organized Wed-: cotton closed steady. Pennlngton of h» had sue,., , ... Heth, Ark., Investigated and re- day to arrest loxl riesday, and the first meeting of the , girls was held Wednesday after-; j noon. Thc boys first meeting wa" j a "n Wednesday evening. There were M ar '. about 25 out on each squad and May „„ prospects look good for a success-. j u jy .... 1154 ful season. O. J. Chancy is boys who j "we pledge tur best effort to the WEATHER •ARKANSAS—Partly cloudy to- Open High Low Close :. .!.. 1095 1104 1094 10C7 1112 1H1 1166 1202 1120 1149 1175 1191 1209 1112 1137 1163 1184 1202 1115 1141 1168 crly a levee contractor.' Friends chief know of no motive for his act. It Is understood that the txxi op- f r " Is survived by ' ' Hawken Harry Tre\atl Pays Fine for Assault Imum temperature hr... • Morgan Slsk was fined $10 for - ns 51 degrees and th maximum, v.iie, Eva erators may put up a fight to an d battery In thc only 68 degrees; clear with .3* inches of ii' ' P revent Chief Goodr.ln from carry- case tried In police cjurt thU mcr- rain Saturday night. On the same coach and „„ smith the e irls roots' steady an! ur^ang^ at ^cknsh:7n7'a^tK.^ ^ ft^SSF^SK " and' 5 u^erT r $££ «£ %^M*£^&»& "move them." ' said lo ha\j figured bi thc case. minimum K degrees; coach. «

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