18888. Farmers Bank of Virginia (Richmond, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 19, 1867
Location
Richmond, Virginia (37.554, -77.460)

Metadata

Model
gpt-5-mini
Short Digest
c818c73a43e2826d

Response Measures

None

Description

Articles show the bank had previously suspended operations (referenced in 1867) and then executed a deed of assignment (assignment dated Jan 19, 1867). A federal receiver (David J. Saunders) was appointed by the U.S. Circuit Court in notices published June 1868. No article describes a depositor run; the sequence is suspension → assignment → receivership (permanent closure). Dates: suspension date not specified in these clippings; assignment and receiver appointment are documented.

Events (3)
1. January 19, 1867 Other
Newspaper Excerpt
On the 19th instant, the Farmers Bank of Virginia... made a deed of assignment of all the assets of the bank to Messrs. John M. Goddin and Samuel C. Robinson, trustees, in accordance with the act of the General Assembly of 12th February, 1866 ... The deed conveys the entire proceeds of the bank ... for the redemption of the outstanding circulation or notes of the said bank ratably among the holders thereof ... after its general operations were suspended. (Daily Dispatch, 1867-01-26).
Source
newspapers
2. June 9, 1868 Receivership
Newspaper Excerpt
Notice is hereby given that the undersigned has been appointed by the Circuit Court of the United States for the District of Virginia receiver of all the assets of the Farmers Bank of Virginia and of all its branches... DAVID J. SAUNDERS, Receiver. (The Daily Dispatch, 1868-06-09).
Source
newspapers
3. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had suspended operations (implying insolvency/financial distress) prior to the deed of assignment; assets assigned for distribution to creditors.
Newspaper Excerpt
This bank on Saturday made a deed of trust... paying the salaries of all the officers of this bank since its suspension.
Source
newspapers

Newspaper Articles (12)
1. January 23, 1867 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, January 23, 1867

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Article Text

FARMERS BANK OF VIRGINIA -- The Richmond Times says:- "This bank on Saturday made a deed of trust, assigning all of its assets to John M. Goddin and Samuel C. Robinson, who are the Cashier and President of the Planters' National Bank. The deed is for the benefit of all its creditors, giving preference to itsnote holders, providing it be lawful. Should such preference not be lawful, then the assignment is for all creditors equally and equitably to share and share alike. The deed also provides for the payment of the salaries of all the officers of this bank since its suspension."

2. January 26, 1867 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, January 26, 1867

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Article Text

ASSIGNMENT OF THE FARMERS BANK.-On the 19th instant, the Farmers Bank of Virginia, through its president, William H. Macfarland, and Directors John E. Wadsworth, James B. Dupuy, Allen Y. Stokes, and Robert A. Mayo, made a deed of assignment of all the assets of the bank to Messrs. John M. Goddin and Samuel C. Robinson, trustees, in accordance with the act of the General Assembly of 12th February, 1866, requiring such deed conveying such assets to be distributed amongst all persons, corporations, and associations entitled to share in such distribution, according to the legal rights and priorities of such persons and corporations at the time such deed shall be executed." The deed conveys the entire proceeds of the bank upon condition that the trustees "shall proceed without delay to convert into current money all the assets of the existing in that form, and the debts the name action, bank by not collecting (using already of and the choses bank in in suits for that purpose when necessary or proper,) or by selling," &c.; sales to be made at such time and upon such terms, and in such manner, as the said trustees may determine. The entire proceeds, after deducting the expenses and the commissions of the trustees, to be appropriated after " paying thereout all salaries due the officers of the bank, and reasonable faes and compensation for professional or other services rendered to the bank since its general operations were suspended," to the redemption of the outstanding circulation or notes of the said bank ratably among the holders thereof, who shall present the same for redemption within six months after the publication of notice" in two or more newspapers in the city of Richmond. It is provided that in the redemption those note. holders who have received partial payment upon their notes shall not receive more until all other holders presenting their claims within the six months shall have received an equal amount upon their notes. It is further provided that those who have taken a specified sum in full satisfaction of their notes, and shall have surrendered the same, shall not be entitled to receive anything further. The residue of the fund in the hands of the trustees to be applied ratably to the satisfaction of all other debts and liabilities. But the deed closes with a proviso relating to the construction of the act of 12th February, 1866, and that part in italics in the beginning of this article. The deed says that, should that be legally construed SO as to require a distribution " among all the creditors of the said bank not having specific liens on property of the bank," then the said assets shall be distributed by the trustees accordingly, and they " shall not make or attempt any distribution giving preference or priority to the noteholder as aforesaid."

3. March 26, 1868 Virginia Free Press Charles Town, WV
Article from Virginia Free Press, March 26, 1868

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Article Text

Suit Instituted. Mr. Wm. Bayne, of Maryland, and Messrs. Andrew J. Duncan and John W. Judkins, of Tennessee, have instituted a suit in the United States Circuit Court, against the President and Directors of the Farmers' Bank of Virginia, for a considerable amount. The plaintiffs claim that they have in their possession notes of the said bank amounting to some $28,000, and a draft drawn by the Farmers' Bank on the Bank of Nashville for $1,266.13, which had been presented and payment refused. The defendants have been notified that the plaintiffs will, on the 16th day of April next, move the court for an injunction to restrain the defendants from disposing of the assets of said bank, in any manner whatever, and ask for the appointment of a receiver by the Court. [Rich, Ex. 20th.

4. June 9, 1868 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, June 9, 1868

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Article Text

LEGAL NOTICES. OTICE-TO ALL WHOM IT MAY CONN CERN.-Notice is hereby given that the undersigned has been appointed by the Circuit Court of the United States for the District of Virginia receiver of all the assets of the Farmers Bank of Virginia and of all its branches. All persons Indebted to said banks are hereby notified forthwith to pay such debts only to the receiver or his duly authorized agents or attorneys; and all persons having claims against said banks must forthwith file notices of the same, setting forth the amount claimed, with me. DAVID J. SAUNDERS, Receiver. je2_Tu&FtNov18[if]

5. June 15, 1868 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, June 15, 1868

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Article Text

OTICE-TO ALL WHOM IT MAY N CONCERN.-Notice is hereby given that the undersigned has been appointed by the Circuit Court of the United States for the District of Virginia, receiver of all the assets of the Farmers' Bank of Virginia, and of all its branches. All persons indebted to said banks are hereby notified forthwith to pay such debts only to the receiver or his duly authorized agents and attorneys; and all persons having claims against said banks must forthwith file notices of the same. setting forth the amount claimed, with me. DAVID J. SAUNDERS, Receiver. Richmond, my 18-2aw6m

6. June 26, 1868 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, June 26, 1868

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Article Text

LEGAL NOTICES. OTICE-TO ALL WHOM IT MAY CONN CERN.-Notlce is hereby given that the undersigned has been appointed by the Circuit Court of the United States for the District of Virginia receiver of all the assets of the Farmers Bank of Virginia and of all its branches. All persons indebted to said banks are hereby notified forthwith to pay such debts only to the receiver or his duly authorized agents or attorneys; and all persons having claims against said banks must forthwith file notices of the same, setting forth the amount claimed. with me. DAVID J. SAUNDERS, Receiver. je2-Tu&FtNovis[1f]

7. July 15, 1868 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, July 15, 1868

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Article Text

OTICE -TO ALL WHOM IT MAY N CONOFRN.-Notice is hereby given that the undersigned has been appointed by the Circuit Court of the United States for the District of Virginia, receiver of all the assets of the Farmers' Bank of Virginia, and of all its branches, All persons indebted to said banks are hereby notified forthwith to pay such debts only to the receiver or his duty authorized agents and attorneys; and all persons having claims against said banks must forthwith file notices of the same, setting forth the amount claimed. with me. DAVID J. SAUNDERS, Receiver. Richmond, my 18-2aw6m

8. July 21, 1868 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, July 21, 1868

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Article Text

OTICE--TO ALL WHOM IT MAY N CONCFRN.-Notice is hereby given that the undersigned has been appointed by the Circuit Court of the United States for the District of Virginia, receiver of all the assets of the Farmers' Bank of Virginia, and of all its branches, All persons indebted to said banks are hereby notified forthwith to pay such debts only to the receiver or his duly authorized agents and attorneys; and all persons having claims against said banks must forthwith file notices of the same, setting forth the amount claimed, with me. DAVID J. SAUNDERS, Receiver. Richmond, my 18-2aw6m

9. August 3, 1868 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, August 3, 1868

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Article Text

NOTICE.-The undersigned hereby gives notice that CERTIFICATE OF STOCK of the First National Bank of Richmond issued to W. L.Hodge April 24h, 1866, No. 207, for ten shares, hasbeen lost, and application will be made to said bank for the re-issue of said certificate after the expiration of sixty days from the publication of this notice. J. LEDYARD HODGE. Executor. Jy-31-Fin OTICE-TO ALL WHOMIT MAY CONN CERN.-Notice is hereby given that the wedersigned has been appointed by the Circuit Court of the United States for the District of Virginia receiver of all the assets of the Farmers Bank of Virginia and of all its branches. All persons indebted to said banks are hereby notified forthwith to pay such debts only to the receiver or his duly authorized agents or attorneys; and all persons having claims against said banks must forthwith file notices of the same, setting forth the amount DAVID 3. SAUNDERS, claimed, with me. Receiver. je 2-Tu&FiNovis[1f]

10. August 31, 1868 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, August 31, 1868

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Article Text

OTICE-TO ALL WHOM IT MAY CONCERN.-Notice is hereby given that the unN dersigned has been appointed by the Circuit Court of the United States for the District of Virginia receiver of all the assets of the Farmers Bank of Virginia and or all its branches. All persons indebted to said banks are hereby notified forthwith to p ty such debts only to the receiver or his duly authorized agents or attorneys; and all persons having claims against sald banks must forthwith file notices of the same, setting forth the amount DAVID J. SAUNDERS, claimed, with me. Receiver,

11. September 30, 1868 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, September 30, 1868

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Article Text

OTICE-TO ALL WHOM IT MAY N CONCERN.-Notice is hereby given tha, the undersigned has been appointed by the Circuit Court of the United States for the District of Virginia, receiver of all the assets of the Farmers' Bank of Virginia, and of all its branches, All persons indebted to said banks are hereby notified forthwith to pay such debts only to the receiver or his duly authorized agents and attorneys; and all persons having claims against said banks must forthwith file notices of the same. setting forth the amount claimed, with me. DAVID J. SAUNDERS, Receiver Richmond, my 18-2aw6m

12. March 14, 1870 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, March 14, 1870

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Article Text

By W. Goddin, Auctioneer and Real Estate Agent. ECEIVER'S SALE OF LOT ON THE R NORTH SIDE OF FRANKLIN BETWEEN TWENTY-FIRST AND TWENTY-SECOND STREETS.-At - the request of Mr. David J. Saunders. Receiver of the Farmers Bank of Virginia, I shall sell at auction. on the premises, on THURSDAY the 17th March, 1870, at it o'clock P. M., part of the LOT (No. 63) located as above. fronting 44 feet, running back the depth thereof. TERMS : One-third cash ; balance at four W. GODDIN. months, interest add d. Auctioneer. mh 14