18772. Savings Bank (Newport News, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
May 21, 1906
Location
Newport News, Virginia (36.979, -76.428)

Metadata

Model
gpt-5-mini
Short Digest
60f07f1fadf7ae92

Response Measures

None

Description

The Savings Bank of Newport News was forced to close in May 1906 after its president Irwin Tucker's defalcation and suicide. A receiver was promptly appointed and the bank remained defunct with receivers, litigation, and asset wind-up over the following years. No article describes a depositor run prior to the suspension; the closure appears driven by bank-specific embezzlement/adverse information and resulted in permanent closure/receivership.

Events (5)
1. May 21, 1906 Receivership
Newspaper Excerpt
J. A. Willett ... was to-day ... appointed receiver for the Savings Bank of Newport News, of which Institution the president, Irwin Tucker, defaulted, and on Saturday last shot himself to death.
Source
newspapers
2. May 22, 1906 Other
Newspaper Excerpt
Mr. J. A. Willett was appointed receiver and assignee and an injunction was granted enjoining the Savings Bank of Newport News from further conducting its own business
Source
newspapers
3. May 25, 1906 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank forced to suspend after discovery of large defalcation/shortages by president Irwin Tucker, who then committed suicide.
Newspaper Excerpt
the doors of the bank were closed on the 25th day of that month and an examination of the bank's affairs the same day disclosed the fact that Mr. Tucker was about $20,000 short
Source
newspapers
4. August 3, 1906 Receivership
Newspaper Excerpt
Judge Barham ... has appointed Mr. Allen D. Jones as receiver of the defunct Savings Bank. Judge Barham ... to succeed Mr. J. A. Willett.
Source
newspapers
5. * Other
Newspaper Excerpt
Numerous lawsuits by depositors against officers and directors to recover full amounts; long litigation and appeals followed (depositions, trials in 1907-1909, appeals to state supreme court).
Source
newspapers

Newspaper Articles (17)
1. May 22, 1906 Daily Press Newport News, VA
Article from Daily Press, May 22, 1906

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MR. WILLETT RECEIVER FOR THE SAVINGS BANK Assumes Charge of Institution at Once and Will Take lovenlory of Assets. JUDCE MARTIN GRANTS INJUNCTION Bank Restrained From Further Con. ducting Its Own Business- E. R. Vaughan Sues in Chancery for Pur pose of Winding Up Affairs and Distributing Assets. For the purpose of winding up the affairs of the Savings Bank of New port News and distributing the as sets of the institution pro rata among the creditors and depositors. suit in chancery was filed in the clerk's office of the Corporation Court yesterday by E. R. Vaughan, who sues for himself and all other creditors of the Savings Bank of Newport News, against the Savings Bank of Newport News Judge Barham is out of the city, 50 it was necessary 10 go to Norfolk or the appointment of a receiver. Mr. O. D Batchelor, of Batchelor ( Phillips. Mr. J. A. Massie and Dr Carter Perkins appeared yeaterday before Judge Wm. B. Martin. of th law and chancery court of Norf 1k and asked for the appointment of Mr. J. A. Willett as receiver and assignee of the bank Injunction Granted. Mr Willett was appointed receiver and assignee and an injunction was ranted enjoining the Savings Bank of Newport News from further conlucting its own business and from interfering with the receiver. In he clerk's office here Mr. Willett ave bond in the sum of $30,000. with the National Surety Company, if New York. Powell Trust Co., agents. as surety. Mr. Willett will at once assume harge of the bank and have an in entory of assets taken. The doors f the institution are closed to the public and it is very probable that hey will never be opened again. No Statement Issued. The affairs of the bank are in inch a condition that it is impo3ible to secure an official statement I this time. The receiver may make a statement for the satisfaction if the creditors as soon as he has taken an inventory. It is understood that the defalenion of the late President Tucker will amount to $25,000 or more. To represent this amount there are persenal notes of the president and oth r securities which are believed to e practically worthless. Unless the insurance policies of the deceased rove to be collectable, it seems cer ain that the creditors and deposit rs will lese 25 per cent. or more of their money. It is probable that the stockholders will lose heavily A Personal Representative. The personal effects, including the Insurance policies, of Mr. Tucker. vill be taken charge of by a memer of the family today. The father of the deceased. Mr. John Tucker, if is come tere from Washington, today Norfolk expected and to name I representative to take charge of he effects The personal representative of the lead man will have to make the light with the insurance companies, l'he policies. which amount to $42. 00 or over, name the estate as beneficiary. This makes it possible or the receiver of the bank to se ure any money that may be forth

2. May 22, 1906 The Times Dispatch Richmond, VA
Article from The Times Dispatch, May 22, 1906

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Receiver Appointed. (Special to The 'times-Dispatch.) NORFOLK, VA., May 21.-J. A. Willett, of Newport News, was to-day. by judge of the Norfolk Court of Law and Chancery, appointed receiver for the Savings Bank of Newport News, of which Institution. the president, Irwin Tucker, defaulted, and on Saturday last shot himself to death. Tucker's body was brought here and burled to-day.

3. May 23, 1906 Daily Press Newport News, VA
Article from Daily Press, May 23, 1906

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NOTICE. To whom it may concern: As assignee and receiver of the assets of the Savings Bank of Newport News. I hereby inform all persons owing money to said bank that I am authorized to receive payment of same, and. until further notice, the bank's room will be open for that purpose the same hours as Turnierty. J. A. WILLETT. 5-22-3t Assignee and Receiver. DTC

4. June 27, 1906 Daily Press Newport News, VA
Article from Daily Press, June 27, 1906

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WANT TO KNOW ABOUT AFFAIRS OF THE BANK Depositors of the Defunct Savings Bank of Newport News Hold a Meeting. VERY DELAY OVER IMPATIENT Resolutions Adopted Demanding an Accounting of Assets and Liabilities in Detail-Receiver Willett Says He is Settling Up Business as Quickly as Possible. A large number of the depositors of the defunct Savings Bank of Newport News held a meeting last night at the Central Labor Union hall for the purpose of forming an organiza tion to look after their interests William Gath was elected temporary president and G. W. Meadows secretary. There was a great deal of discus sion, all of the speakers declaring it their opinion that the depositors should take steps toward having the affairs of the defunct bank closed up without delay. Resolutions Adopted. The following resolutions were adopted: "Resolved that time sufficient hav ing elapsed since the closing of the doors of the Savings Bank of New port News, we, depositors and credit ors, pledge ourselves to secure our rights "Resolved, that having lost contidence in the banking fraternities of Newport News we shall withdraw cur business and influence from the same unless proper measures are at once taken to protect our interests. "Resolved that we demand the strict accounting of the assets and liabilities of the said bank in detail: also we demand to be informed of the status of the incorporators, directors and stocksholders of said bank. "Resolved that if the banking laws and powers are to ignore depositors in the way experienced. all confidence in banks and banking is lost. "Resolved that we, the victims of advertised fraud and confidence, pro pose to immediately take steps both legally and locally to protect our rights. "Resolved that these resolutions be published in the local papers. (Signed) 'WILLIAM GATH, president pro tent. "G. W. MEADOWS, sec. pro tem." Mr. Willett's Statement, When seen by a Daily Press re porter last night. Mr. J. A. Willett, receiver for the Savings Bank of Newport News, stated that he was closing up the affairs of the bank as rapidly as possible; that loans could not be collected until they were due and that the business of the in stitution could not be closed up 1111 til the loans were in Mr. Willett did not seem to be at

5. August 3, 1906 Daily Press Newport News, VA
Article from Daily Press, August 3, 1906

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MR. JONES IS RECEIVER. Takes Charge of Affairs of Defunct Savings Bank. Judge Barham, in the Corporation Court, has appointed Mr. Allen D. Jones as receiver of the defunct Savings Bank of Newport News, to succeed Mr. J. A. Willett. No attorney is appointed to succeed Mr. O. D. Batchelor.

6. October 30, 1906 Daily Press Newport News, VA
Article from Daily Press, October 30, 1906

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EXAMINING INTO AFFAIRS OF BANK Special Commissioner Mitchell Begins Investigation Ordered by Corporation Court. AFFIDAVIT OF THE BOOKKEEPER Records of Institution Were Correct at Time President Tucker Killed Himself and Doors Were Closed, Report Will Be Submitted to Judge Barham Soon. Special Commissioner C. C. Mitchell, appointed by Judge Barhain in the Corporation Court to examine into the affairs of the defunct Newport News Savings Bank and make a I'L port to the court. began his investigation at 10 o'clock yesterday morning in the law offices of Allan D. Jones, receiver for the bank. Miss Lily S. Stewart. who was for several years bookkeeper in the bank and who held that position when the bank was closed, was the only witness examined yesterday. She made affidavit as to the correctness of the books of the bank at the time the Institution was closed. After her tes timony had been taken the commis sloner and Captain C. C. Berkley, attorney for the depositors, went over ,the books together, arranging the names of the depositors in alphabetical order and placing the amount of their balances as shown on the books opposite their names, showing in concise form the amount of money each depositor had in the bank when the doors were closed and the total amount of the deposits. The commissioner will now make detailed statement of the money on hand in the bank when it closed. the amount collected on notes by the receiver and all moneys now due the bank from all sources. Commissioner Mitchell will continue his investigation today and he expects to have his report ready to submit to Judge Barham in a short time. The investigation now being made is the result of a suit brought against the officers and directors of the defunct bank by the depositors, to recover the full amount of their balances in the bank at the time It had to be closed because of defalcation of its late president. Irwin Tucker. In their bill the depositors allege that the trouble resulted from negligence on the part of the directors and officers. The suit will be taken up in the Corporation Court as soon as Commissioner Mitchell completes his investigation.

7. January 31, 1907 Daily Press Newport News, VA
Article from Daily Press, January 31, 1907

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ASKS FOR INJUNCTION. Mr. Timberlake Wants His Case Transferred to Equity. When the case of Allan D. Jones, receiver for the Savings Bank of New. port News, against L. R. Timberlake. was called in the Corporation Court yesterday the defendant asked for an Injunction traneferring the suit to equity. The attorneys for the plaintiff were taken by surprise and upon their motion the case was continued until Friday by Judge Barham. The plaintiff in this case is suing on a note for $350 given for subscription to the stock of the defunct institution. Mr. Timberlake claims to have sold his stock to the late Irwin Tucker, who was president of the bank and who agreed to assume the obligation.

8. May 18, 1907 Daily Press Newport News, VA
Article from Daily Press, May 18, 1907

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DR. PERKINS TAKES STAND IN BANK CASE Cashler of Defunct Institution Says He Didn't Handle Cash or Books After March 11, 1904 SUBJECTED TO CROSS EXAMINATION Testimony Brought Out Before Notary Yesterday Regarded as Very Important by the Plaintiffs-Depo. sitions Will be Ready for Judge Ingram in Near Future. Dr. Carter Perkins, cashier of the defunct Savings Bank of Newport News, was called to the stand yesterday morning to give nis depositions in the suit of the depositors against the bank and the officers and directors of the defunct Institution, to recover the full amount of their deposits. Dr. Perkins was on the stand throughout the day. After a recital of the conduct of the affairs of the Institution during the first several years of Its existence, the witness testified that he left the bank on March 11, 1904. to practice his profession and that from that time until the suicide of the late president, Irwin Tucker, he did not count the cash or examine the notes carried by the bank. When asked by the attorney for the plaintiffs how he was able to sign the monthly statements of the condition of the bank's finances, the cashier replied that he signed the statements on the face of the bank's books. which were kept by President Tucker. Dr. Perkin's testimony was regarded as the most Important yet given in the suit and he was subjected to a long cross examination by Attorney Charles C. Berkley, counsel for the depositors. It is expected that the taking of the depositions In the case will be concluded in the near future. Attorney Allan D. Jones, receiver For the bank, will be called to the stand soon and after his testimony has been given, a detailed statement of the condition of the finances of the bank during the past few years, which is now being prepared by experts, will be placed in evidence. When the depositions are completed they will be forwarded to Judge Ingram, of Richmond. who was appointed by Governor Swanson to try the case, at the request or Judge T. J. Barham.

9. June 29, 1907 Daily Press Newport News, VA
Article from Daily Press, June 29, 1907

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Receiver for Sage & Co. Claims to Hold Deposit Certificates for $8,361.13. "NEWS" TO RECEIVER JONES. Total Shortage Was Believed to Be $36,000, But This New Claims Runs Amount Up to $45,000-Taking Depositions In Suit of Depositors is Resumed. Attorney Allan D. Jones, receiver for the defunct Savings Bank- of Newport News, has received a letter from Attorney Henry A, Gaede, of Hoboken, N. J., receiver for M. J. Sage & Company, bankrupt brokers of New Jersey, in which the writer states that he holds certificates of deposits aggregating $8,361.13 issued by the defunct bank to Sage & Company, and requests to be informed when he may expect dividends. The books of the bank show no entries of such deposits and Receiver Jones knew nothing of them until the letter arrived from Mr. Gaede. On later examination, however, he found that the deposit certificates were missing, but the stubs do not show to whom they are issued nor do these certificates appear as a liabilitw in the bank's statéments. Mr. Jones stated yesterday that c aims of Sage & Company would be contested. Sage & Company leased a wire to the alleged "bucket shop" which was being operated in the rear of the Savings Bank at the time the late President Irwin Tucker committed suicide, and it carried a large account with the bank. When the doors of the institution were closed the books of the bank showed that the account

10. August 3, 1907 Daily Press Newport News, VA
Article from Daily Press, August 3, 1907

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Messrs. J. M. Curtis, H. J. Lewis and W. H. Sears Cross-Examined In Bank Case. # ALL TESTIFIED TO SOME FACT Witnesses Are Said to Have Sworn That Board Did Not Meet After December 9, 1902—Evidence May Not Go to Judge Ingram Until Early in Winter. City Treasurer J. M. Curtis and Messrs. H. J. Lewis and W. H. Sears, directors of the defunct Savings Bank of Newport News, were recalled to the stand yesterday for cross-examination by Captain Charles C. Berkley, counsel for the depositors in their suit against the officers and directors of the wrecked bank to recover the full amount of their deposits. All of the witnesses are said to have testified that no meeting of the directors of the bank were held after December 9, 1902, but beyond that no important evidence was given by them. The attorneys for the plaintiffs expect to finish taking depositions by next Friday and will file the testimony taken up to that time in the clerk's office of the Corporation Court. After the depositions are filed, the expert accountants employed by Attorney Allan D. Jones, receiver for the defunct bank, to go over the books of the institution and compile statements regarding the condition of the bank during the past two or three years, will submit their reports and be examined by the attorneys for both the depositors and the directors and officers. It is expected that the attorneys for the defendants will begin examining witnesses the latter part of the month. The taking of the depositions of those witnesses probably will require several months and the complete testimony of both sides probably will not be submitted to Judge Ingram, who is setting in the case, before early this winter.

11. September 5, 1907 Daily Press Newport News, VA
Article from Daily Press, September 5, 1907

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Testifes Concerning Certain Trans. action With the Late Ir. win Tucker. PLAINTIFFS READY TO CLOSE Last Evidence for the Depositors Will be Taken Next Tuesday; Then the Defendants' Witnesses Will be Examined-Case Goes to Judge In About Three Months. Former Postmaster Fred Read was the principal witness yesterday in the sult of the depositors of the Savings' Bank of Newport News against the officers and stockholders of that institution, his testimony relating to a certain controversy between the late president of the bank, Mr. Irwin Tucker, and the Postoffice Department over a shortage in Mr. Tucker's accounts with the department. Mr. Read was called to the stand in the trial of this suit several times, but declined to testify until instructed to do SO by the Postoffice Department. Mr. Read's Testimony. In reply to questions from Attorney C. C. Berkeley, counsel for the plaintiffs, Mr Read said on the stand yesterday that at one time Mr. Tucker had been short in his accounts at the local postoffice to the amount of $650 and that for sometime he refused to settle the account, claiming that the shortage resulted from a stamp robbery at the postoffice. After the matter had been In dispute for some time the department ordered the bill collected and it finally was paid by Mr. Tucker. The only witness heard yesterday was Mr. Arthur Lee, assistant cashier of the First National Bank, who testifled that Mr. J. W. Ayler, Jr., who has been examining the books of the defunct institution, is an expert bookkeeper Mr. Ayler was on the stand sometime ago, but was not recalled yesterday, counsel for the defense announcing that they had no desire to cross-examine the witness. Continued to Tuesday. Yesterday afternoon the taking of depositions in this case was continued until Tuesday, when the plaintiff will close their case so far as the taking of depositions is concerned. Among the witnesses who will be examined Tuesday will be Miss Lillie C. Stewart. who was bookkeeper in the wrecked bank: Messrs, E. R. Vaughan and E. W. Milstead. stockholders of the bank, and Receiver Allan D. Jones. The defendants probably will be. gin taking the depositions of its wit. nesses next week This will " la

12. September 8, 1908 Daily Press Newport News, VA
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Judge Ingram Allows Each Side Two Days In Which to Address Court. READ DEPOSITIONS LATER Distinguished Counsel, In All Twelve Lawyers, Engaged In the Proceedings Instituted by Depositors of the Wrecked Savings Bank of Newport News. Argument in the suit of the depositors against the officers and directors of the wrecked Savings Bank of Newport News will be opened in the Corporation Court at 10 o'clock this morning before Judge Ingram. of the Richmond Law and Chancery Court. Judge Ingram. and several out-of-town lawyers who are interested in the case, arrived in this city yesterday morning. The judge held a brief session of the court yesterday morning to discuss the mode of procedure. After a lengthy conference with the attorneys in the case, Judge Ingram announced that he would have the argument commence this morning and would give each side two days in which to present its case. After the argument, Judge Ingram will return to Richmond to read the voluminous record of the depositions that have been taken here during the past eighteen months. Also the attorneys will submit written argument to the court and that will be read along with the depositions. Distinguished Counsel. Some of the' foremost attorneys of Virginia have been retained in this case and when court convened yesterday morning an unusually brilliant array of legal talent was present. Representing the plaintiffs are Captain Charles C. Berkeley, of this city, leading counsel, Hon. Allan Caperton Braxton. of Staunton. Attorney John S. Eggleston. of Richmond. and Attorney Allan D. Jones, receiver for the defunct institution. The defense is in the hands of Attorneys R. G. Bickford, C. Aylett Ashby, J. Winston Read, R. M. Lett and O. D. Bachelor. of this city. David S. Pulliam. of Richmond, William H. White, of Norfolk and S. Gordon Commings, of Hampton. Capt. Berkeley Speaks. Captain Berkeley will open the argument for the defense this morning. His address probably will consume the entire morning session. One of the attorneys for the defense will answer and Hon. A. C. Braxton probably will be the next speaker. When Judge Ingram will hand down his decision in the case cannot be foretold at this time. He probably will require several weeks to examine the depositions and the written argument. Cause of Suit. This suit grew out of the wrecking of the Savings Bank by its late president. Irwin Tucker, who blew out his brains on the morning the bank was forced to suspend in May. 1906. The depositors are suing for the full amount of their deposits on the ground that the wrecking of the bank resulted from the gross negligence of the officers and directors. The case has attracted considerable attention throughout the state. and its outcome will be watched with great interest in this and other cities of Virginia.

13. September 9, 1908 Daily Press Newport News, VA
Article from Daily Press, September 9, 1908

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Captain Berkeley Opens Argument In Bank Case. MR. CUMMING WILL REPLY TODAY Attorney For Plaintiff Argues That Wrecking of Bank Was Result of Negligence on Part of Directors of the Institution. Before Judge J. H. Ingram. of Richmond, in the Corporation Court yester. day morning. Captain Charles C. Berkeley began the argument for the plaintiffs in the suit of the depositors against the officers and directors of the wrecked Savings Bank of Newport News for the recovery of the full amount of their deposits. Captain Berkeley's address consumed the entire day, concluding just before the court adjourned in the afternoon. This morning Attorney S. Gordon Cummings, of Hampton. will open the argument for the defense. He probab. ty will be followed for the defense by Attorney R. G. Bickford. Hon. A. Caperton Braxton, of Staunton, will close the argument for the defense Friday. In the meantime Attorney John S. Eggleton, of Richmond, and Atorney Alian D. Jones, receivers for he defunct bank, will speak for the plaintiffs. Besides Attorneys Bickford and Cummings, Messrs. Ashby, Read, Lett and Batchelor, of this city, and Messrs. Pulliam, of Richmond, and White, of Norfolk, will speak for the defense. In his address yesterday Captain Berkeley took up the affairs of the Savings Bank from a period about three years before the institution was forced to close its doors, and gave a recital of them up to the time that the bank's president, Irwin Tucker. committed suicide by firing a bullet into his brain. Captain Berkeley's argument was along the line that the wrecking of the bank resulted from the alleged gross agligence of the officers and directors in failing to hold meetings and at. tend to the affairs of the institution. It is said that the evidence in the case shows that the directors had not held a meeting during the two years preceding the closing of the doors of the bank.

14. September 16, 1909 Daily Press Newport News, VA
Article from Daily Press, September 16, 1909

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Richmond Jurist Ready to Make Known Findings in Savings Bank Case. SUIT IN UNUSUAL INTEREST Depositors of Wrecked Institution Are Endeavoring to Recover Full Amount of Their Deposits From Officers and Directors-History of Case Recalled. Judge Ingram, of the Law and Chancery Court of Richmond, has written to Judge Barham that he will come here in October to announce his decision in the suit of the depositors against the officers and directors of the wrecked Savings Bank of Newport News to recover the full amount of their deposits. In his letter to Judge Barham, Judge Ingram does not name the date on which he will render the decision, but he probably will come early in October. He requests that Judge Barham notify the attorneys in the case that he will come here next month. No civil suit ever brought in a court in this city has attracted as much local interest as this one and Judge Ingram's decision will be anxiously awaited by the several hundred depositors in the defunct bank as well as by attorneys and bankers and the public generally. That the case will not end with Judge Ingram's decision is a foregone conclusion, for it will be appealed to the State Supreme Court by the losing side, whether that side be the officers and stockholders or the depositors. About $40,000 Involved. The suit involves about $40,000 and is the outgrowth of the wrecking of the bank by its former president, Irwin Tucker, in May, 1906. The doors of the bank were closed on the 25th day of that month and an examination of the bank's affairs the same day disclosed the fact that Mr. Tucker was about $20,000 short in his accounts. He had left a note to the of ficers, saying that he was going abroad to recuperate his fortunes and that he would pay the money back as quickly as possible. After reading the note, the officers of the institution swore out a warrant for Tucker's arrest and placed It in the hands of Chief Reynolds. Although the cashier had been seen on the streets early that morning it was thought that he had left the city. Hoping to find some clue by which he might trace the missing man, Chief Reynolds went to Tucker's room on an upper floor of the bank building. Just as the chief unlocked the door, Tucker, who was inside, blew his brains out with a revolver. Receivers Appointed. A receiver for the bank was appointed, Mr. J. A. Willett being named by the court. Later Mr. Willet resigned and Attorney Allan D. Jones was appointed. Following an examination of the bank books, the deposttors, through their atteronys, Captain C. C. Berkeley, of this city and Hon. A. Caperton Braxton, of Staunton, brought suit against the officers and stockholders to recover the full amount of their deposits. Owing to his close personal relations with some of the defendants in the case, Judge Barham declined to sit in the case, and Governor Swanson appointed Judge Ingram, of Richmend, as the trial judge. Took Depositions For Nearly a Year, The taking of depositions in the case consumed upwards of a year and the depositions were filed in the clerk's office of the Corporation Court last winter. Judge Ingram then came here to hear the argument in the case The attorneys afterwards submitted written arguments to the court and since that time Judge Ingram has been going over the evidence and the argument. In their suit, the depositors alleged that the wrecking of the bank was brought about by gross negligence on the part of the directors and stockholders.

15. October 26, 1910 Daily Press Newport News, VA
Article from Daily Press, October 26, 1910

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Judge Keith, President of Virginia Suprdme Court, Notifies Plaintiffs' Counsel. MEFTING OF DEPOSITORS SO BE HELD THIS WEEK Record of Case Has Been Made Up and It Can Get Before Court Without Delay-Proceedings Have Been Pending For the Past Four Years. Judge James Keith, president of the Virginia Supreme Court of Appeals, yesterday granted the plaintiffs an appeal irom that portion of the decree of Judge John H. Ingram, of Richmond, releasing former City Sergeant E. W. Milstead, City Treasurer J. M. Curtis, Dr. Noah Jackson and Manley M. Barnes from liability as directors in the case of Vaughan against the Savings Bank of Newport News for the recovery by the depositors of the defunct bank of the full amount of their deposits. Captain Charles C. Berkeley, of counsel for the depositors, is now arranging for a meeting of the depositors to transact certain necessary bus. iness matters in connection with the apeal. The meeting probably will be held this week and the appeal will be taken at once. The entire record in the case has been made up and there will be no delay in getting the matter before the Supreme Court. Gambled Bank's Money Away. This case has been in the courts for the past four years. In May, 1906, the Savings Bank of Newport News closed its doors and Irwin Tucker, its president, whose gambling in "bucket" shops caused the wreck of the bank, blew his brains out a new hours after the bank was closed and while officers were searching for him to arrest him on the charge of embezzlement A few months after the bank went into the hands of a receiver, the depositors, through Attorneys A. Caperton Braxton, of Staunton. and C, C Berkeley, of this city, brought suit in the Corporation Court to recover their deposits, aggregating $45,000. Judge Ingram Tries Case. Owing to the fact that some of the parties to the suit were close personal friends of his, Judge T. J. Barham requested Governor Swanson to ap point a judge to try the case. Judge John H. Ingram. of the Law and Chancery Court of Richmond was named. Immediately afterwards the taking of depositions was begun and Judge Ingram rendered his decision in the case several months ago. He held that Messrs. Milstead, Curtis and Barnes and Dr. Jackson were not directors of the bank and were not liable. His decree held the di rectors Dr. Clarence Porter Jones, Dr. Carter Perkins and A. T. Pulliam liable to the depositors. At that time it was generally believed that the depositors would be unable to recover a cent from these men and subsequently all of them filed petitions in voluntary bankruptcy and were adjudged bankrupts. Receiver Allowed to Appeal. However, before that was done, counsel for the depositors sought to

16. December 16, 1910 Daily Press Newport News, VA
Article from Daily Press, December 16, 1910

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# RAISING FUNDS TO # APPEAL BANK CASE Depositors Hold Meeting and Half of Required Sum is Raised. Many of the depositors of the wrecked Savings Bank of Newport News met at Rosenbaum's hall last night to discuss ways and means of carrying the now famous bank case to the Supreme Court of Appeals of Virginia. About $1,700 will be necessary to print the record of the case for presentation to the Supreme Court and this money is being raised by depositors. Attorney Allan D. Jones, receiver for the defunct institution, told the depositors that from communications which he has from depositors and from the statements of the depositors present, he estimated that more than half of the necessary money to make the appeal is in sight. It was decided to hold another meeting of the depositors on the night of January 10 at the same place for the purpose of completing all arrangements for perfecting the appeal. Attorneys Charles C. Berkeley, of this city, and Braxton and Eggleston, of Richmond, have been retained to represent the receiver in the appeal.

17. February 22, 1911 The Times Dispatch Richmond, VA
Article from The Times Dispatch, February 22, 1911

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WILL COMPROMISE IF COURT AGREES Litigation Growing Out of Failure of Newport News Bank Nears Settlement. [Special to The Times-Dispatch.] Newport News, Va., February 21.Agreeing to pay $8,900 in settlement for the full amount of the claims against them, City Treasurer J. M. Curtis, former City Sergeant E. W. Milstead and Manley H. Barnes have effected a compromise which probably will finally end litigation in the famous case of the depositors of the Savings Bank of Newport News against that institution, its officers and directors. If the court confirms the agreement entered into by the receiver and counsel for the parties, the depositors will get an additional 15 per cent. of their money, making a total of 40 per cent. that they will receive of the $42,000 they had on deposit in the Savings Bank of Newport News at the time the doors of that institution were closed, following the suicide of its president, Irwin Tucker. Irwin Tucker blew out his brains in May. 1906, after losing nearly the whole of the funds of the bank in speculation. He left a note in which he said that he hoped his life insurance policies would help to pay on the depositors. However, nothing has ever been recovered on the policies. At the time the bank closed there was hardly enough actual cash in the vault to pay off the janitor. Suit was filed by the depositors, through Charles C. Berkeley, of this city, and A. C. Braxton, of Staunton, against the bank and its officers and directors for the full amount of their deposits. Judge John Ingram, of Richmond, was appointed by Governor Swanson to sit for Judge Barham, of the local Corporation Court, in the case. After a long drawn out trial, during which much bitter feeling was engendered by the attacks of counsel for the depositors upon the defendants, the court handed down an opinion holding Dr. Clarence Porter Jones, Dr. Carter Perkins, A. T. Pulliam and A. C. Bristow, directors and stockholders, liable for the full amount of the deposits. Bristow was not within the jurisdiction of the court, but is said to have been practically bankrupt, and the judgment threw the other three against whom the verdict was rendered into bankruptey. The plaintiffs received practically nothing from the judgment. In the meantime, Allen D. Jones, receiver for the defunct bank, had been realizing on the outstanding paper of the institution, and had refunded to