18889. Farmers Bank of Virginia (Richmond, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 15, 1871
Location
Richmond, Virginia (37.554, -77.460)

Metadata

Model
gpt-5-mini
Short Digest
6b7e8b91965d5678

Response Measures

None

Description

Newspaper notices (Apr–Jun 1871) repeatedly identify David J. Saunders as receiver and advertise sale of the bank's effects by court decree; no articles describe a depositor run or subsequent reopening. This indicates the bank was placed in receivership and its assets liquidated—i.e., suspension followed by permanent closure. I corrected small OCR inconsistencies (e.g., Farmers' Bank of Virginiamoney -> Farmers' Bank of Virginia in Article 10) but did not infer events beyond the text.

Events (4)
1. April 15, 1871 Receivership
Newspaper Excerpt
In obedience to a decree of the Circuit Court of the United States for the District of Virginia ... DAVID J. SAUNDERS, Receiver Farmers' Bank of Virginia.
Source
newspapers
2. April 15, 1871 Suspension
Cause
Government Action
Cause Details
Court decree of the U.S. Circuit Court for the District of Virginia placed the bank in receivership (receiver David J. Saunders appointed).
Newspaper Excerpt
DAVID J. SAUNDERS, Receiver ap 15-1awtd Farmers' Bank of Virginia.
Source
newspapers
3. June 22, 1871 Other
Newspaper Excerpt
D. J. SAUNDERS receiver, will sell at 10 A. M., at the United States Circuit Court-house, the effects of the late Farmers' Bank of Virginia.
Source
newspapers
4. June 23, 1871 Other
Newspaper Excerpt
Sale of the Effects of the Farmers' Bank of Virginia. This sale commenced, according to appointment, on the steps of the Custom-bouse building, yesterday morning.
Source
newspapers

Newspaper Articles (10)
1. April 26, 1871 The Daily State Journal Richmond, Alexandria, VA
Article from The Daily State Journal, April 26, 1871

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Article Text

ALE OF THE EFFECTS OF THE FARMERS BANK OF VIRGINIA. S In obedience to a decree of the Circuit Court of the United States for the District of Virginia, the undersigned will, on the 22D DAY OF JUNE NEXT, beginning at 10 o'clock A M, at the Court House door of said court, in the Custom-House building, in the city of Richmond, make sale, for cash, of all the effects of the Farmers' Bank of Virginia, consisting of BONDS, BILLS, NOTES. JUDGMENTS, DECREES, and whatsoever else there be. Creditors of the Bank, whose claims have been allowed, are, under said decree, entitled to set off at par their claims against any purchases of said effects they may make. A descriptive list of said effects may be seen at the office of David J. Faunders, on Eleventh street, be. tween Main and Bank, in Richmond, which the public are invited to call and examine. This list will be printed for circulation, and will be ready as soon as it can be prepared. DAVID J. SAUNDERS, Receiver ap 15-1awtds Farmers' Bank of Virginia.

2. May 13, 1871 The Daily State Journal Richmond, Alexandria, VA
Article from The Daily State Journal, May 13, 1871

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Article Text

AUCTION SALES. SALE OF THE EFFECTS OF THE FARMERS BANK OF VIRGINIA. In obedience to a decree of the Circuit Court of the United States for the District of Virginia, the under-signed will, on the 22D DAY OF JUNE NEXT, beginning at 10 o'clock A M, at the Court House door of said court, in the Custom-House building, in the city of Richmond, make sale, for cash, of all the effects of the Farmers' Bank of Virginia, consisting of BONDS, BILLS, NOTES, JUDGMENTS, DECREES, and whatsoever else there be. Creditors of the Bank, whose claims have been allowed, are, under said decree, entitled to set off at par their claims against any purchases of said effects they may make. A descriptive list of said effects may be seen at the office of David J. Saunders, on Eleventh street, between Main and Bank, in Richmond, which the public are invited to call and examine. This list will be printed for circulation, and will be ready as soon as it can be prepared. DAVID J. SAUNDERS, Receiver Farmers' Bank of Virginia. ap 15-lawtds

3. May 15, 1871 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, May 15, 1871

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Article Text

ALE OF THE EFFECTS OF THE S BANK OF VIRGINIA. In obedience to a decree of the Circuit Court of the United States for the District of Virginia, the undersigned will, on the 29TH DAY OF JUNE NEXT, beginning at 10 o'clock A. M., at the court-house door of said Court in the Custom-House building, in the city of Richmond, make sale, for cash, of all the EFFECTS of the BANK OF VIRGINIA, consisting of BONDS, BI LS. NOTES, JUDGMENTS, DECREES, and whatsoever else there be. Creditors of the Bank, whose claims have been allowed, are, under said decree, entitled to set off at par their claims against any purchases of said effects they may make. A descriptive list of said effects may be seen at the counting house of S. C. Tardy, one of the undersigned. on 17th and Dock streets, or at the office of D. J. Saunders. on 11th street, be: ween Main and Bark, in Richmond, which the public are invited 10 call and examine. This list will be printed for circulation, and It will be advertised when ready. DAVID J. SAUNDERS, Receivers S. O. TARDY, s Bank of Va. mh 25-1awtd ALE OF THE EFFECTS OF THE FARMERS' BANK OF VIRGINIA.-ID obedience to a decree of the Circuit Court of the United States for the District of Virginia, the undersigned will, on the 22D DAY OF JUNE NEXT, beginning at 10 o'clock A. M., at the court-house door of said court, in the customhouse building, in the city of Richmond, make sale, for ca: h. of all the EFFECTS of the Farm era' Bank of Virgini consisting of BONDS, BIGLY, NOTES, JUDGMENTS, DECREES, and whatsoever else there be. Creditors of the Bank whose claims have been allowed are, under said decree, entitled to set off at par their claims against any purchares of said effects they may make. A descriptive list of said effects may be seen at the office of David J. Saunders, on 11th street. between Main and Bank, In Richmond, which the public are invited to call and examine. This 11st will be printed for circulation, and will be ready as soon as it own be prepared. DÁVID J. SAUNDERS, Receiver Farmers' Bank of Virginia. ap 17-1awtda

4. May 22, 1871 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, May 22, 1871

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Article Text

AUCTION SALES. FOR SALE. THAT VERY DESIRABLE AND VALUABLE PROPERTY, BELONGING TO THE COMMON WEALTH OF VIRGINIA, KNOWN AS THE ARMORY PROPERTY. The Board of Public Works of Virginia, being authorized and required to seil the lots and water-power belonging to the Commonwealth. situated in the city of Richmond, and known as the ARMORY PROPERTY, will offer the same. on the premises, at public auction on the 15TH JULY NEXT, at 4 P. M. The payment to be made in State bonds, at par, and the purchaserallowed a credit of six and twelve months from the date of its sproval and ratification by the next General Assembly. About one-third of the property, on the western boundary. is under a lease until 1st July, 1876, to Robert Archor & Co., at rental of $1,500 per annum, and the sale will be subject to its conditions. This property (about six acres) adjoins the extensive iron works belonging to the Tredegar Company, bounded on one side by the James River and Kanawha canal, 622) feet. and the other (or lower) side, 447 feet on James river. the full being between the canal and river fifty feet. Plan of property is now on ille in the office of the Board of Public Works. at Richmond, to whom application should be made for furtherinformation By order of the Board of Public Works of THOMAS H. DEWITT Virginia. Seely Board of Public Works Richmond Va ap 28-lawts , ALE OF THE EFFECTS OF THE FARMS ERS BANK OF VIRGINIA.- - In obedionce to a decree of the Circuit Court of the United States for the District of Virginia. the undersigned will. on the 22D DAY OF JUNE NEXT, beginning at 10 o'clock A. M., at the court-house door of said court. in the customhouse building. in the city of Richmond. make sale. for cash. of all the EFFECTS of the Farmers Bank of Virginia. consisting of BONDS, BILLS, NOTES JUDGMENTS DECREES and what-oever else there be Creditors of the Bank. whose claims have been allowed. are. under said decree, entitled to set off at par their claims against any purchases of said effects they may make A descriptive list of said effects may be seen at the office of David .1. Saunders, on 11th street. between Main and Bank. in Richmond which the public are invited to call and examine This list will be printed for circulation. and will be ready assoon as it can be prepared DAVID J. SAUNDERS Receiver Farmers Bank of Virginia. Richmond. ap 18-lawts

5. May 27, 1871 The Daily State Journal Richmond, Alexandria, VA
Article from The Daily State Journal, May 27, 1871

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Article Text

AUCTION SALES. ALE OF THE EFFECTS OF THE FARMERS BANK OF VIRGINIA. S In obedience to a decree of the Circuit Court of the United States for the D'strict of Virginia, the undersigned will, on the 22D DAY OF JUNE NEXT, beginning at 10 o'clock A M, at the Court House door of said court, in the Custom . House building, in the city of Richmond, make sale, for cash, of all the effects of the Farmers' Bank of Virginia, consisting of BONDS, BILLS, NOTES, JUDGMENTS, DECREES, and whatsoever else there be. Creditors of the Bank, whose claims have been al. lowed, are, under said decree, entitled to set off at par their claims against any purchases of said effects they may make. A descriptive list of said effects may be seen at the office of David J. Saunders, on Eleventh street, between Main and Bank, in Richmond, which the public are invited to call and examine. This list will be printed for circulation, and will be ready as soon as it can be prepared. DAVID J. SAUNDERS, Receiver Farmers' Bank of Virginia. ap 15-1awtda

6. June 3, 1871 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, June 3, 1871

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Article Text

FOR SALE. THAT VERY DESIRABLE AND VALUABLE PROPERTY, BELONGING TO THE COMMUN WEALTH OF VIRGINIA, KNOWN AS THE ARMORY PROPERTY. The Board 01 Public Works of Virginia, boing authorized and required to sell the lots and water-power belonging to the Commonwealth situated in the city 01 Richmond, and known us the ARMORY PROPERTY, will other the same, on the premises, at public auction on the 15TH JULY NEXT at 1/2 P. M. The payment to be made in State bonds, at par, and the purchaserallowed is credit of SIX and twelve months from the date of its aproval and ratification by the next General Assembly About one-third o: the property. on the western boundary, IS under a !case until 1st July. 1870, to Robert Archer & Co. at rental of $1,500 per annum, and the sale will be subject to its conditions. This property (about six acres) adjoins the extensive iron works belonging to the Tredegar Company, bounded on one side by the James River and Kanawha canal, 6221 1eet, and the other (or lower) side, 447 feet on James river, the fall being between the canal and river fifty feet. Plan of property is now on file in the office of the Board of Public Works, at Richmond, to whom application should be made for furtherin formation. By order of the Board of Public Works 11 THOMAS H. DEWITT, Virginia Sec'y Board of Public Works. Richmond Va., ap 28-lawts ALE OF THE EFFECTS OF THE FARMS ERS' BANK OF VIRGINIA.-In obedience to a decree of the Circuit Court of the United States for the District of Virginia, the undersigned will, on the 22D DAY OF JUNE NEXT, beginning at 10 o'clock A. M., at the court-house door of said court. in the customhouse building, in the city of Richmond, make sale, for cash. of all the EFFECTS of the Farmers' Bank of Virginia, consisting of BONDS, BILLS, NOTES, JUDGMENTS DECREES, and whatsoever else there be. Creditors of the Bank, whose claims have been allowed, are, under said decree, entitled to set off at par their claims against any purchases of said effects they may make. A descriptive list of said effects may be seen at the oflice of David J. Saunders, on 11th street, between Main and Bank, in Richmond, which the public are invited to call and examine. This list will be printed for circulation, and will be ready as soon as it can be prepared. DAVID J. SAUNDERS, Receiver Farmers' Bank of Virginia. Richmond, ap 18-lawts

7. June 12, 1871 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, June 12, 1871

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Article Text

ALE OF THE EFFECTS OF THE S FARMERS' BANK OF VIRGINIA.- In obedience to a decree of the Circuit Court of the United States for the District of Virginia. the undersigned will, on the 22D DAY OF JUNE NEXT. beginning at 10 o'clock A. M., at the court-house door of said court, in the customhouse building, in the city of Richmond, make sale, for cash, of all the EFFECTS of the Farmers' Bank of Virginia, consisting of BONDS, BILLS, NOTES, JUDGMENTS, DECREES, and whatsoever else there be. Creditors of the Bank whose claims have been allowed are. under said decree, entitled to set off at par their claims against any purchases of said effects they may make. A descriptive 11st of said effects may be seen at the office of David J. Saunders, on 11th street, between Main and Bank. in Richmond, which the public are invited to call and examine. This list will be printed for circulation, and will be ready as soon as it can be prepared. DÁVID J. SAUNDERS, Receiver Farmers' Bank of Virginia. ap 17-1awtds

8. June 13, 1871 The Daily State Journal Richmond, Alexandria, VA
Article from The Daily State Journal, June 13, 1871

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Article Text

AUCTION SALES. ALE OF THE EFFECTS OF THE FARMERS BANK OF VIRGINIA. S In obedience to a decree of the Circuit Court of the United States for the District of Virginia, the undersigned will, on the 22D DAY OF JUNE NEXT, beginning at 10 o'clock A M, at the Court House door of said court, in the Custom-House building, in the city of Richmond, make sale, for cash, of all the effects of the Farmers' Bank of Virginia, consisting of BONDS, BILLS, NOTES, JUDGMENTS, DECREES, and whatsoever else there be. Creditors of the Bank, whose claims have been allowed, are, under said decree, entitled to set off at par their claims against any purchases of said effects they may make. A descriptive list of said effects may be seen at the office of David J. Saunders, on Eleventh street, between Main and Bank, in Richmond, which the public are invited to call and examine. This list will be printed for circulation, and will be. ready as soon as it can be prepared. DAVID J. SAUNDERS, Receiver Farmers' Bank of Virginia: ap 15-1awtds

9. June 22, 1871 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, June 22, 1871

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Article Text

GRUBBS & WILLIAMS will sell at 0 P.M. a brick residence at the southwest corner of Cary and Foushee streets. GRUBBS & WILLIAMS will sell at 5) P. M. a brickdwelling and vacant lot on the east side of eighth street, north of Leigh. ISBELL & SON will sell at 5) P. M. a two-story brick house and lot on the west side of 10th, between Byrd and Arch streets. D. J. SAUNDERS receiver, will sell at 10 A. M., at the United States Circuit Court-house, the effects of the late Farm rs' Bank of Virginia. THOMAS W. KEESEE will sell at 10 A. M. two pianos, furniture, &c.

10. June 23, 1871 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, June 23, 1871

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Article Text

Sale of the Effects of the Farmers' Bank of Virginia. This sale commenced, according to appointment, on the steps of the Custom-bouse building, yesterday morning. It was attended by many moneyed men and other interested parties from abroad, as well as by a large number of Richmond bankers, lawyers and merchants. The sale was conducted by Messrs. Isaac Davenport and Chas. E. Wortham, of Davenport & Co., under the direction of Messrs. D. J. Saunders and C. Tardy, the receivers of the bank. Bidding was quite spirited, and the prices brought for the claims were really very good. although they may have seemed small to the casual spectator. Thousands of dollars were frequently knocked down for as many cents, while in many cases the claims were sold for double the amount named on the face of the notes. The largest sum realized by the sale of any one item was that for which the gold claim was knocked down. Just after the breaking up of the Southern Confederacy the United States Government seized $100,000 in gold belonging to the Bank of Virginia and Farmers' Bank of Virginiamoney which had been taken away from Richmond by agents of those banks at the time of the evacuation of the city to prevent its falling into the hands of the enemy. The seizure was made in Georgia, and the money, having been converted into about $130,000 in greenbacks, was deposited in the United States Treasury Department at Washington. Heretofore all efforts for the restitution of the whole or any part of it have proved unavailing, but it was stated yesterday that a prominent lawyer of Washington had offered to collect it for 12 per cent. The share of the Farmers' Bank is, in round numbers. about $65,000. It was started at $1,500, Mr. Davenport being the bidder. It was then run up first by hundreds, and then by thousands, until it was cried for $40,000; hung a long while between $40,000 and $50,000; passed $50,000 by $100; and was finally knocked down to Terry & Co. for $52,800. The purchasers seemed satisfied with the price paid. The sale proceeded as expeditiously as possible, but it was apparent early in the day that it could not be finished before night. The claims of the mother bank and of the branches at Petersburg, Charlottesville. Winchester, Fredericksburg, Alexandria, and Danville, were all disposed of, the best price being paid for the Winchester paper. Of the latter a note for $900, with two endorsers, which fell due in 1861, was sold for $3,000; another for $906 brought $2,800 and still another, calling for $807. brought $1,500. The Charlottesville and Petersburg claims also sold remarkably well, and those due the Fredericksburg branch, owing to peculiar circumstances, generally understood, seemed to be the least in demand. The sale will be resumed at the same place this morning at 10 o'clock, about half of the effects still remaining unsold. We should remark that it is conducted against a protest formally entered yesterday. Before the first item was cried Mr. Wm. H. Ryan, of Baltimore, desired to know of the receivers whether the printed list distributed among the crowd was full and accurate, embracing all the claims due the bank. Gen. B. T. Johnson, counsel for the receivers, replied that the gentleman must apply to the court for an answer to that question. Mr. Ryan then protested in writing against the sale going on, not only because there was no evidence that the above-named list was full and accurate, but because the creditors of the bank had not received proper notice. Mr. J. L. Williams, of the firm of Lancaster & Co., brokers, of this city, united in this protest.