Planters National Bank (Richmond, VA)

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Bank Suspension in Richmond

RICHMOND, VA., Sept. 12.-The Richmond Bank. ing and Insurance company have this morning posted at their counter the following notice: The president and board or directors are compelled to suspend business for the present. Trustees will be appointed and it is confidently believed that de. positors will receive dollar for dollar. (Signed,) JOHN B. Davis, President. The bank officers state that the cause of the sus. pension is due to large depositors recently with. drawing their funds. The intimate relations be. tween this bank and the Planters' National Bank (Mr. Davis being president of both) has created uneasy feeling among the depositors in the latter, causing small depositors to withdraw their funds. Business men having large deposits are rallying to its aid. -The directors of the Planters' National Bank were in session all last night examining its condition, and at five o'clock this morning Chas. E. Whitlock and James B. Pace, two of the wealthiest men in the city, were elected directors. John B. Davis then resigned the presidency and Chas. E. Whitlock was elected president.

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Bank Suspension

RICHMOND, September 12.-The Richmond Banking and Insurance Company this morning suspended. At the counter the following notice appeared from the President and Board of Directors: "We are compelled to suspend business for the present. Trustees will be appointed, and it is believed that depositors will receive dollar for dollar." The notice is signed by the President, John B. Davis. The bank-officers state that the cause of the suspension is due to the fact that large depositors have recently withdrawn their funds, which action so materially contracted and embarrassed their business that they were forced to the step taken. Intimate relations between this bank and the Planter's National Bank, Davis being President of both, has created an uneasy feeling among depositors in the larter, crusing small depositors to withdraw their funds, and business men having large deposits are rallying to its aid. The directors of the Planter's National Bank were in session all last nightexamining its condition, and at b o'clock this morning Charles E. Whitlock and James B. Pace, two of the wealthiest men in the city,

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TO-DAY'S TELEGRAPHIC DISPATCHES

Suspension of the Richmond Banking and Insurance Company. RICHMOND, Sept. 12.-The Richmond Banking and Insurance Company have this morning posted at their counter the following notice: The president and board of directors are compelled to suspend business for the present. Trustees will be appointed and it is confidently believed that depositors will receive dollar for dollar. (Signed.) JOHN B. DAVIS, President. The Bank officers state that the cause of the suspension is due to large depositors recently withdrawing their funds, which action so materially contracted and embarrassed their business that they were forced to the step taken. The intimate relations between this and the Planters National Bank (Mr. Davis being president of both) has created uneasy feeling among the depositors in the latter, causing small depositors to withdraw their funds. Business men having large deposits are rallying to its aid. The directors of the Planters National Bank were in session all last night examining its condition and at five o'colck this morning Chas. E. Whitlock and James B. Pace, two of the wealthiest men in thecity, were elected directors. John B. Davis then resigned the Presidency and Chas E. Whitlock was elected President.

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A Banking House Suspends

RICHMOND, Sept. 12.-The Richml Banking and Insurance Company has pended. Fears are entertained for the vency of the Planters' Bank, whose preside John B. Davis, is also president of the B pended institution. Davis resigned presidency of the Planters' this morn and its heavy depositors are rallying to support.

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DOLLAR FOR DOLLAR

RICHMOND BANKING AND INSURANCE COMPANY SUSPENDS. The Causes of the Failure and How it Was Met-Deed - of Trust Made-No Preferred Claims-Planters National Bank Reorganized: C. E. Whitlock, President; J. B. Pace, Director.

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BRIEF TELEGRAMS

Six hundred and forty Mormons arrived at New York yesterday, from Liverpool. The Court House, of Clarion, Pa., was destroyed by fire yesterday. Loss, $60,000. The Crescent mills and elevator at Denr ver, Col., burned yesterday. Lore, $225,000. Mrs. Lucretia Garfield yesterday bought 8 for $50,000 cash the Ralph Worthington residence on Prospect street, Cleveland. 0 The betting on the race between the Hillsdale crew and the crew of the Thames if rowing club, is 2 to 1 against the former. An unsuccessful attempt was made, yesterday, to rob the north bound Pácific train in Indian Territory. One of the robbers was killed. James A. Arnett, a prominent farmer of Lewiston, Illinois, quarrelled with his wife and son Jacob, yesterday, about his (Arnett's) scandatous relations with a young C widow, and as the scuflle was proceeding a younger son, Cyrus, rushed in with a revolver and shot Arnett fatally. 1 Yesterday afternoon Frank Levok, ene gincer of the Co-operative Stoye Works, at Cleveland, Ohio, was "caught in the machinery while adjusting a belt and instantly killed. His neck was broken and both legs wrenched off at the knees, and both arins pulled off at the elbows. A special from Independence, Mo., says: Mrs. H. M. Vaile, wife of the defendant in o the Star route trial, left to join her husband in Washington. A deed conveying the residence of Vaile to his wife was recorded to:day. The consideration was $22,000, about one-fourth of its real value. The Richmond (Va.) Banking and Ind surance Company suspended business yeso terday. The depositors will receive dollar S for dollar. The bank was crippled by e several large depositors withdrawing funds. d The Planter's National Bank was slightly affected owing to John B. Davis being 1 President of both banks. The Directors of of the Planter's National Bank held a proIs longed meeting and Davis resigned and h was succeeded by Chas. E. Whetlock. d Mr. Davis is a brother of Senator Henry G. y Davis, of West Virginia.

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A BANK FAILS

Sudden Collapse of a Richmond Depositoly. RICHMOND, VA., September 12.-The Richmond Banking and Insurance Company, this morning, posted at their counter the following notice: "The President and Board of Directors are compelled to suspend business for the present. Trustees will be appointed, and it is believed depositors will receive dollar for dollar. JOHN B. DAVIS, Pres't. [Signed.] The bank officers state that the cause of the suspension is due to a large depositor recently withdrawing funds, which action so materially contracted and embarrassed business, that they were forced to the step taken. The intimate relations betwen this bank and the Planters' National Bank (Davis being President of both) has created an uneasy feeling among depositors in the latter, causing small depositors to withdraw their funds. Business men having large deposits are rallying to its aid. The directors of the Planters' National Bank were in session all last night, examining its condition, and at five o'clock this morning Chas. E. Whitlock and James B. Pace, two of the wealthiest men in the city, were elected directors. John B. Davis then resigned the presidency and Chas. E. Whitlock was elected President.

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Bank Complications at Richmond

RICHMOND, September 12.-The Richmond Banking and Insurance Company this morning posted at the counter the following notice: "The president and Board of Directors are compelled to suspend business for the present. Trustees will be appointed, and it is believed depositors will receive dollar for dollar. "JOHN B. DAVIS, President." The bank officers state that the cause of the suspension is due to large depositors recently withdrawing funds, which action 80 materially contracted and embarrassed business that they were forced to the step taken. The intimate relations between this bank and the Planters' National Bank, Davis being president of both, has created an uneasy feeling among depositors in the latter, causing emall depositors to withdraw their funds. The business men having large deposits are rallying to its aid. The directors of the Planters' National Bank were in session all last night, and at 5 o'clock this morning Charles E. Whitlock and James B. Pace, two of the wealthiest men in the city, were elected directors. John B. Davis then resigned the presidency, and Charles E. Whitlock was lected president. No statement of the condition of the affairs of the company could be obtained today. The amount of deposits is stated at about $600,000, which includes $300,000 belonging to the State of Virginia, this bank being the State depository. This amount is secured by bond, with good security. The actual liabilities are put down at $607,000. Charles E. Whitlock was appointed trustee for the Banking and Insurance Company, and it is probable that in a day or two a definite statement will be made. Whitlock believes the depositors will not lose anything from the delay. John B. Davis, late president of the suspended bank and the Planters' National Bank, is a brother of United States Senator Henry G. Davis, of West Virginia. Much sympathy is expressed for him. A slight run on the Planters' National Bank, which began on Monday upon the fact of the suspension being made public, continued until about 1 o'clock, when matters quieted down, under the assurance that there was plenty of money to pay all depositors, and not the slightest cause for alarm.

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Bank Suspension

RICHMOND, Vil., Signing 1:..-The Richmond Banking and Insurance Company this morning posted at its wall 111.. following file of directors are comp iled 100 $11.00.00 business fir the III. Trustees will : . m ii is lue!i vert will re "wire Hollar for dollar. Signed Jolix B. DAVIS President. The bank still the of i. du :10 large depositors withdrawing their funds. whil's illitions ⑉00 and emara bossiness they were to the step. taken. Intimaie relations this invi i Davis i, ing President " both his erent 8.11 un feeling it's differences 1. withdraw unit. Busi. 11fev 088t11. Daving larg.. ill' rollying 100 its aid. Directors of 11se Planter's National Bank were in -ion lille. last night examining its condition and :11 live the mernin. Chass. 1: Whitlock and Jas. B Pare. 1wo 101 the weather electioni directors. Join B. Date withing the President's : illis E Whitlook II elected Pre-icien:.

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Suspension of a Banking Com

pany. The Richmond Banking and Insurance company of Richmond, Virginia, suspended yesterday in consequence of the withdrawal of their funds by several large depositors. The intimate relations between this and the Planter's National Bank, John B. Davis being President of both,caused many small depositors of the latter to withdraw their money. After an all night session of the directors of the Planters' Bank, examining its condition, at five o'clock yesterday morning Charles E Whitlock and James Place, reputed among the wealthiest men in Richmond were elected directors. John Davis then resigned the Presidency, and C. E. Whitlock, was elected in his place.

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Bank Busted

RICHMOND, Va., Sept. 12.-The Richmond banking and insurance company this morning had posted at their counter the following notice: The president and board of directors are compelled to suspend business for the present. Trustees will be appointed and it is believed that depositors will receive dollar for dollar. Signed: John B. Davis, president. The bank officers state that the cause of suspension is due to large depositors recently withdrawing their funds, which action so materially contracted and embarrassed business that they were forced to stop. The intimate relations bet veen this bank and the Plantera national bank, Davis being president of both, has created an uneasy feeling among depositors in the latter, causing small depositors to with. draw their funds. Business men hav. ing large deposits are rallying to its aid. The directors of the Blanters' national bank were in session all last night PT: amining its condition, and at late o'clock this morning Charles E Whitlock and Jas. B. Face, two of the wealthiest men in the city were elected directors. John B. Davis then resigned the presidency and Chas. E. Whitlock was elected pres. idept.

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GENERAL INTELLIGENCE, A Bank Suspension RICHMOND, VA., September 12.- The Richmond Banking and Insurance company have this morning posted at their counter, the following notice: The president and board of directors are compelled to suspend business for the present. Trustees will be appointed and it is confidently believed that depositors will receive dollar for dollar. JNO. B. Davis, President. The bank officers state that the suspension is due to large depositors recently drawing their funds, which action so materially contracted and embarrassed their business. that they were forced to the step taken. The intimate relation between this bank and the Planters' National bank, Mr. Davis being president of both, has created an uneasy feeling among the depositors in the latter, causing smalldepositors to withdraw their funds. Business men having large deposits are rallying to its aid. The directors of the Planters' National bank were in session all last night examining its condition, and at 5 this morning Charles E. Whitlock and James B, Pace, two of the wealthiest men in the city, were elected directors. John B. Davis then resigned the presidency and Charles E. Whitlock was elected president. LATER.-No statement of the condition of the affairs of the Richmond Banking and Insurance company could be obtained to-day. The amount of deposits is stated at about $600,000, which includes $300,000 belonging to the state of Virginia, the bank being a state depositary. The latter amount is secured by bond with good securities. The actual liabilities are put down at $607,000. Charles E. Whitlock has been appointed trustee for the banking and insurance company, and it is probable that in a day or two a definite statement will be made. Whitlock believes that the depositors will not lose anything except from delay. John B. Davis, late president of the suspended bank and the Planters' National bank, is a brother of United States Senator Berry G. Davis, ot West Virginia. He has displayed a great deal of public spirit since the war, and much sympathy is expressed for him. A slight run on the Planter's National bank began immediately on the fact of the suspension being made public and continued until about 1 o'clock, when everything quieted down, under the assurance that there was plenty of money to pay all depositors and that there was not the slightest cause for alarm.

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Failure of Richmond Bank

RICHMOND, Va., Sept. 12.-The Richmond Banking and Insurance company suspended to-day. No statement of the condition of affairs could be obtained to-day. The amount of deposits are stated to be about $60,000, which includes $30,000 belonging to the state of Virginia, the bank being a state depository. The amount was secured by bond with good securities. The actual liabilities are put down at $607,000. Charles E. Whitlock was appointed trustee for the Banking and Insurance company, and it is probable that in a day or two a definite statement can be made. Whitlock believes depositors will not lose anythingexcept from delay. J. B. Davis, late president of the suspended bank, and Planters' National bank, is a brother of United States Senator Henry G. Davis, of West Virginia, and much sympathy is expressed for him. A slight run on the Planters' National bank, which began immediately upon the facts of the suspension being made public, continued until about 10 o'clock, when matters quieted down under the assurance that there was no cause for alarm.

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THE Richmond (Virginia) Banking and Insurance Company suspended business the other morning, with liabilities reported at $607,000. Charles E. Whitlock has been appointed trustee. The amount of deposits is $600,000, one-half of which belongs to the State of Virginia. John B. Davis, President of the defunct concern, was also at the head of the Planters' National Bank, which fact caused a run during the forenoon on the latter institution. Davis resigned the presidency of the Planters' Bank and Charles E. Whitlock was elected his successor.