February 9, 2015

Bickering Bank Woes With Some Meeks

The players in this tale of money and banking are
Hiram Meek and his son-in-law, Thomas Hood (husband
to his daughter, Maud), his two unmarried daughters,
Anna and Kate, and his sister, Edna Meek Cannon.  
The newspaper article which tells the tale appeared in
The Tribune, Hicksville, Ohio, August 8, 1907.  

Another Legal Action Follows Bank Closing.

Action was commenced last week at Defiance, by Leonard Dorsey and James Ames, against Hiram and Anna Meek. The complaint alleges the fraudulent sale to them of certain stocks or shares of the First National bank, while in the full knowledge that the institution was insolvent.

The outcome of this, with the previous suit mentioned in our last issue, will be watched with much curiosity by our citizens.  Suits by other parties of a similar kind may also be expected.

In the matter of the T. D. Hood sale of stock, Mr. Hood having been assistant cashier, a compromise has been reached that affects a settlement of the civil features of the case.  Mr. Lechner, the injured party, has been secured for the restitution of his purchase money, $1000. This, however, leaves him shy of about $300 that he paid as a premium on the stock.The wisdom of Mr. Hood returning here from California and making some kind of a settlement will readily be seen in considering the following:

On June first Mr. Lechner was approached to purchase the ten Hood shares in question.  At the time, Mr. Lechner paid down $100 to hold option on the stock, agreeing to have the remainder of the funds in a few days.  The stock was then in the name of Mr. Hood, and legally should have there remained until the option was carried out.  Three days after that, namely June 3, Hood transferred the title to his sister-in-law, Miss Anna Meek.  When the purchaser came forward to complete the conditions, it was she that then signed the stock to him..  This, of course, placed a supposed innocent second party between the transactions, but of course was not legal, as Hood held the stock in his name and received the first money.  

At the same time, to still more completely hedge, Mr. Hood transferred 39 shares out of forty he held in the Hart, Hood & Widney Incorporation, to his brother, leaving but one share of $100 remaining.

Simultaneously, Mr. Meek transferred his bank stock to Anna Meek, a daughter, and his real estate to Miss Kate Meek. Miss Anna Meek then transferred this stock to Messrs. Leonard and Allen Dorsey, and Mr. James Ames, laying foundation for the above cited suits at law.

Ascertaining that Miss Meek still has $2700 on deposit here, attachment papers were secured and Sheriff Kopp was here and served the same last Friday, attaching the same in the hands of the First National.  Other complications are expected as a result of the various sales and transfers of the stock, and hotly contested suits are sure to result.

To still add to the general mix-up, Mrs. Cannon, a widowed aunt of Mr. Hood, has taken judgement against him for $317.40, borrowed funds.  It is also understood that she will attack the validity of the transfer by Mr. Hood of the stocks to his brother. 

To counter, or choke her off, Mr. Hood is reportedly by his confidents as threatening to force her on to the tax duplicate with certain monies she has had in the bank for some time.  In the meantime, the bank has resumed with a clear slate and is once more one of our solid and worthy institutions."

Hmmm...I wonder how comfortable a family reunion might have been that year?

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