First & Merchants National Bank

Episode Information

Episode Type: Suspension → Closure
Start Date: March 20, 1935
Location: Richmond, Virginia (37.554, -77.460)
Bank Type: national
Charter Number: 1111
Alt. names: First National Bank

Metadata

Episode ID
Bank ID
City ID: 511499957

Model: gpt-5-mini
Short Digest

Notes

Article describes court-supervised disbursement to creditors consistent with a bank in liquidation/receivership.

Events (2)

1. May 3, 1865 Chartered

Source: historical_nic

2. March 20, 1935 Receivership

Newspaper Excerpt: It was disclosed that the aggregate claims and costs of the proceedings total $635,915 or $25,000 more than is credited to the judge of the Chancery Court in the First and Merchants National Bank.
Source: newspapers

Newspaper Articles (1)

1. March 20, 1935 Richmond Times-Dispatch Richmond, VA

Article Text

Plan of Disbursement

Under a compromise plans, 88 3-4 per cent of fiduciary claims, amounting to $392,490, and 75 per cent of real estate mortgage claims, amounting to $193,573, are to be disbursed to nonobjecting creditors. Those creditors protesting this arrangement will be requested to file such protests before April 9, 1935.

It was disclosed that the aggregate claims and costs of the proceedings total $635,915 or $25,000 more than is credited to the judge of the Chancery Court in the First and Merchants National Bank. This condition, it was emphasized, made necessary the scaling down of all claims.

Payment to nonobjecting creditors should not be withheld because of the objection of a few claimants, it was urged before Judge Moncure and Judge Julien Gunn of City Circuit Court, who sat with his judicial associate.