Show Head of Defunct Bank Ban Pays I Depositors With Private Funds NAYLOR Ga March 24 AP AP- AP I With his private funds J. J R. R Carter Carter Car Car- ter president today tody begin began paying in in full all depositors in in the defunct Farmers' Farmers bank of Naylor because he e moral responsibility re- re said laid he felt a personal sp t to his hil former p patrons tro Although he was not legally liable because tf the failure the pr president several daj days das dast s ngo t o rede redeemed all outstanding shares df Of e capital pital stock of the institution so that tint the share- share holdel's would suffer no loss His Golden Rule venture was said to have cost him approximately four-fifths four of ot which goes to the depositors The rho bank which lI listed capital stock focI and surplus at was aJ 0 1 tl J r 11 j lS l'S I closed Monday by the state slate banking banking- department a alter it H Had made an audit at Carters Carter's request and with his coo cooperation which was said toha to ha have vo revealed a shrinkage In assets exceeding capital capita stock and surplus Carter Immediately bought up all allstock allstock stock l he himself did not hold and then forwarded to the banking department his personal heck check for to co cover vcr the ac accounts accounts aCcounts aC ac- counts of all aU depositors S remarkable Terming TerminI his action for tor an o official of a d defunct bank the department returned hi his hla check appointed him a special agent and authorized him to reopen the he bank temporarily to pay off oft his d depoi tori tors I S I i 2 L d h |