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Farmers Bank of Cane Valley, KY:
Jim finds report of voluntary liquidation


Cane Valley Bank in Liquidation
From the January 22, 1941 Adair County News

Compiled by "Jim"

An announcement is made today that the Farmers Bank of Cane Valley, located at Cane Valley, 6 miles from Columbia, has closed its doors in voluntary liquidation. J.S. Squires, president, stated that the bank had paid no dividends for several years and that the directors, realizing that there was not sufficient business to operate the bank profitably, had decided to liquidate.

Mr. Squires further stated that the bank was in good financial condition and sufficient funds had been deposited in the Bank of Columbia, this city, to pay all depositors in full.

While the bank ceased to operate today, it will be kept open to issue checks to depositors, who are requested to call as soon as possible.

The banks first officers were T.T. Tupman, president; S.L. Banks, Vice-President; and D.O. Eubank, cashier. They were succeeded by the present officers: J.S. Squires, President; Lee Farris, Vice-President; S.N.B. Hancock, cashier; and Miss Norene Cofer, assistant cashier. Directors are: Ira Vaughn, James Vaughn, Lee Farris, Lindsey Watson, and Tyler Tupman.

The list of names presented above as the "first officers is somewhat misleading. Messrs. Tupman, Banks, and Eubank were the first officers of the reorganized Farmers Bank of Cane Valley which (re)opened in late 1919. Mr. Tupman had also been an officer in the original bank of 1907-1910.

An entry in the Cane Valley newsletter published two weeks later in the News stated simply, "We are sorry to know the Farmers Bank, of this place, will soon be closed. The bank was a great help to the people of this community."
-JIM




This story was posted on 2010-02-23 04:58:08
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