1.
January 22, 1930
Evening Star
Washington, DC
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BANK AUDIT LIKELY TO TAKE 4 WEEKS Del Ray's Institution's Assets Frozen, Is Explanation for Temporary Closing. ALEXANDRIA, Va. January 22.Numerous small depositors of the Bank of Del Ray, which by order of its board of directors will be closed pending results of an audit by State bank examiners, made inquiry today as to the date of reopening, some of them claiming to be much inconvenienced. Two to four weeks will be required to complete the audit, it is said. "Frozen assets" was given as the cause of the temporary closing. Most of those affected by the closing are railroad men working at Potomac Yards or for the lines running into the yards. Business firms in the Potomac section of this city keep part or all of their funds in the bank.
2.
February 28, 1930
The Washington Herald
Washington, DC
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DAVIS IS NAMED BANK RECEIVER AT ALEXANDRIA
Attorney Appointed to Settle Affairs of Defunct Del Ray Institution; Promise Dividend
ALEXANDRIA, Feb. 27-Courtland H. Davis, local attorney, has been appointed receiver of the Bank of Del Ray, which closed its doors for an audit January 21.
The board of directors of the institution issued a statement that they would pay a substantial dividend the depositors on or before March 10, and that the balance would be paid as soon as the bank's assets could be liquidated. Davis stated this afternoon that he had not had time to look into the bank's affairs but he would do so at once and wind up the affairs of the bank as speedily as possible. The preliminary hearing of Clay T Brittle, cashier of the bank. who is charged with embezzling more than $60 000 of the bank's funds, is set for Police Court Saturday.
Henry Bennett, 60, of Barcroft, Arlington county. died in Emergency Hospital at 9 o'clock this morning, two hours after he was struck by a Washington and Old Dominion railway train. According to Arlington county police, he stepped from the track as a car approached but just as the front of the car passed he stepped back into the side of the car.
Tomorrow is the last day on which city business and professional licenses may be paid without a penalty, and 1929 city real and personal property taxes may be paid without an additional penalty. Police will arrest all doing business without licenses after tomorrow.
Lieut. Walter Hinton, president of the Aviation Institute of Washington, and pilot of the NC-4 on its trans-Atlantic flight. is to be the principal speaker and guest at the annual banquet of the Baraca Bible Class of the First Baptist Church. March 4, in the Westminster Building. Mary Washington Council No. 4. Daughters of America. observed its 32d birthday last night, following a regular meeting.
3.
February 28, 1930
Evening Star
Washington, DC
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RECEIVER IS NAMED FOR DEL RAY BANK Courtland H. Davis Appointed and Qualifies-Plans Statement. Special Dispatch to The Star. ALEXANDRIA, Va., February 28.Courtland H. Davis, an attorney of this city, was appointed as receiver for the Bank of Del Ray early last night. He immediately qualified and posted a $100,000 surety bond. The appointment was made by M. E. Bristow, commissioner of insurance and banking, acting on authority granted him by the State Corporation Commission. Davis will close up the business affairs of the bank to protect the public interest, creditors and depositors. Just what effect his appointment as receiver will have on the statement issued early yesterday' by the board of directors concerning the paying of a substantial portion of deposits to depositors on of before March 10 could not be stated by Davis last night. Today he will go over the auditor's report and as soon as he is in a position to do so will issue a statement concerning the paying of depositors. The Bank of Del Ray shut its doors January 18 by order of the board of directors for the purposes of an audit. Clay T. Brittle, cashier of the bank, was arrested some days after the bank was closed, and charged in a warrant sworn out by the board of directors with defrauding the bank of a sum in excess of $60,000. After several postponements his case is now set for a hearing in Police Court tomorrow morning before Judge William S. Snow. This hearing may, however, be waived when it comes up tomorrow.
4.
March 11, 1930
Evening Star
Washington, DC
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DEL RAY BANK DOLE HANGS ON COURT ORDER Distribution of Funds on Hand Awaits Direction of Judge Alexander. ALEXANDRIA, Va., March 11.-Distribution of what funds are now on hand at the Bank of Del Ray, now in the hands of a receiver, is dependent on an order from Judge Alexander. who has been given furisdiction over the matter, allowing Courtland H. Davis the receiver, to declare a dividend of the deposits. Davis has been in conference with Judge Alexander and expects to receive this authority within a short time. A state nt of the board of directors of the bank, issued just before the receiver was appointed. had promised depositors a portion of their funds by March 10. James R. Caton. jr., has been appointed special commissioner to examine the titles of the bank's real estate holdings and as soon as he has prepared his report the sale of the property will be authorized and the proceeds distributed. These holdings are estimated to be worth in excess of $25,000.
5.
March 20, 1930
Evening Star
Washington, DC
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BANK OF DEL RAY TO PAY ONE-THIRD Depositors to Get Part of Funds Monday-Rest Depends on Liquidation. Special Dispatch to The Star. ALEXANDRIA, Va., March 20.-Depositors of the Bank of Del Ray will receive 33½ per cent of their deposits Monday, according to announcement today of Courtland H. Davis, receiver. This will be the first dividend paid since the bank was closed January 21 by order of its directors for purposes of an audit. Patrons will be required to come to the bank to obtain their funds. This procedure will be followed, it is announced, so that any deductions owed the bank may be explained at the time the money is paid out. The rest of the deposits, which, according to the last statement of the bank. published January 17, amounted to $54,048.07, will be paid when and if enough money is received by the bank from the conversion of the rest of its holdings into cash, according to receiver. Following the closing of the bank. the directors had an audit made and had announced a short time ago that a portion of the deposits would be paid March 10. This, however, was upset by the appointment of a receiver by State banking authorities. Clay T. Brittle, cashier of the bank, is now awaiting grand jury hearing on a charge of defrauding the institution of a sum in excess of $60,000, which charges are carried in a warrant sworn out by the directors for his arrest. The charges were heard in Police Court here and carried to the grand jury. Brittle is out under $25.00 bona furnished by friends.
6.
March 21, 1930
The Washington Times
Washington, DC
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Del Ray Bank Will Pay First Dividend Monday ALEXANDRIA, March 21.--The Bank of Del Ray will reopen Monday to disburse a one-third dividend to all depositors having balances of over $5 in the bank when it closed. The remainder of the deposits will be paid to the depositors as soon as the holdings are reduced to cash, which is expected to take about 90 days. The receiver will ask all owners of safe deposit boxes to remove their effects while the bank is opened Monday. He will set apart funds to cover the one-third of all $5 accounts, to be disbursed later.
7.
March 24, 1930
The Washington Times
Washington, DC
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50 In Line as Del Ray Bank Pays Depositors ALEXANDRIA, Va March 24. Fifty persons waited in line today for the Bank of Del Ray to open its doors for the disbursement of 33 1-3 per cent dividend to the depositors. The number grew to 150 before 10 o'clock. The receiver of the bank, Courtland H. Davis, . has asked that all safety deposit box holders remove their valuables.
8.
March 25, 1930
Evening Star
Washington, DC
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ALEXANDRIA. ALEXANDIRA, Va., March 25 (Special).-Total deposits of the Bank of Del Ray were revealed as between $90,000 and $95,000 yesterday, when the bank paid out approximately $33,000 in deposits, representing a one-third dividend on the amounts deposited. Statement of the bank in January, just before it was closed by directors, showed these deposits as approximately $54,000. The bank, through Courtland H. Davis, receiver, hopes to make another payment some time in the near future, depending on the speed with which certain items can be liquidated. The release of the $33,000 yesterday is expected to materially aid business conditions here. The work of nominating directors for the Chamber of Commerce will start tomorrow morning at 9 o'clock and close at 4 o'clock Friday afternoon. From the list of the individual members mailed out today the members will write down the names of the 14 they desire nominated, From these lists 28 names will be taken and a list printed and mailed out to members March 29. The 14 directors will be elected from this list, the 7 having the highest vote for two years and the other seven for one year. Funeral services for Ashby F. Ward, 21, who died Saturday night at the home of his mother, Mrs. Mary C. Valentine, will be held at 2 o'clock this afternoon from the late residence, 1607 King street. Rev. D. L. Snyder, pastor of the Methodist Episcopal Church South, will have charge of the services and interment in Bethel Cemetery will follow.
9.
July 8, 1930
The Washington Times
Washington, DC
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CASHIER GIVEN 6 YEARS IN PEN ALEXANDRIA. Va., July 8.Clay T. Brittle, former cashier of the ill-fated bank of Del Ray, today pleaded guilty to the larceny of $63,000 from the bank and was sentenced to serve six years in the Virginia State Penitentiary subject to the State convict forces. 1 Albert V. Bryan, attorney for the Commonwealth, told the court that Brittle had made restitution of a great part of the missing money, and, in addition, had turned over to the receiver of the bank hi sentire personal estate, and recommended clemency and the sentence of six years. A touch of melodrama was added when Earl R. Sullivan, deputy clerk. who was reading the arraignment, was overcome by emotion and was unable to continue, his voice failing. Judge Fred Coleman, of Fredericksburg, trying the case, then took the indictment from Sullivan and read the arraignment to Brittle, who pleaded guilty in a quiet voice. Judge Coleman in passing sentence praised Brittle for pleading guilty after having made every effort to repay the money taken and said he was glad to be as lenient as possible under the circumstances. Brittle was then taken in custody by City Sergeant Cox and will be held at the local jail until he is sent to the penitentiary. The other 12 indictments against Brittle. charging the larceny of small amounts. were nolle prossed on motion of Commonwealth's Attorney Albert V. Bryan. Brittle is married and has two small children, who are with their mother at her former home in Fauquier county.
10.
October 29, 1930
The Washington Times
Washington, DC
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DIVIDEND ON WAY ALEXANDRIA, - Va., Oct. 29. Courtland H. Davis, receiver for the Bank of Del Ray, has announced that an 11 per cent dividend will be paid to depositors before November 15. Because of the low condition of the real estate market the receiver has been unable to reduce all of the bank's land holding to cash.
11.
October 30, 1930
Evening Star
Washington, DC
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SECOND DIVIDEND VOTED BY RECEIVER OF BANK Payment to Be Made From Funds of Defunct Del Ray Institution. Special Dispatch to The Star. ALEXANDRIA, Va., October 30.-Depositors of the Bank of Del Ray, which closed its doors last January 21 and which was later placed in the hands of a receiver, will receive their second dividend before November 15, it was announced today by Courtland H. Davis, the receiver. The dividend will be 11 1-9 per cent, or one-third of the first dividend, which was for 33 1/3 per cent.
12.
January 2, 1931
Evening Star
Washington, DC
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By a Staff Correspondent of The Star. ALEXANDRIA, Va., January 2.Courtland H. Davis, receiver for the Bank of Del Ray, which closed almost a year age, has petitioned Judge J. R. H. Alexander of Leesburg, Va., to allow him to pay off depositors who will accept such a settlement by transferring to them lots in Brenton subdivision of this city, part of the assets of the defunct bank. The petition, which is expected to be granted, will mean that depositors
13.
January 2, 1931
Evening Star
Washington, DC
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BANK RECEIVER OFFERS TO PAY DEPOSITORS WITH BRENTON LOTS Asks Court to Permit Del Ray Institution's Assets to Be So Used. By a Staff Correspondent of The Star. may, if they desire, take the lots at ALEXANDRIA, Va., January 2.values placed on them by the appraisers Courtland H. Davis, receiver for the appointed by the court when the receivership was established, in return for Bank of Del Ray, which closed almost any balance of deposit due them. If a year age, has petitioned Judge J. R. a lot is appraised at more than a deH. Alexander of Leesburg, Va., to allow positor has coming to him he will be him to pay off depositors who will required to pay the difference in cash. accept such a settlement by transferSince the bank closed two dividends ring to them lots in Brenton subdihave been paid, one of 33½ per cent vision of this city, part of the assets and the other of 10 per cent. When of the defunct bank. the bank closed its deposits totaled The petition, which is expected to approximately $100,000. be granted, will mean that depositors