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DIVIDENDS. THE DEPOSITORS OF THE FARMERS AND MECHANICS' SAVINGS BANK OF T° A LEXANDRIA, VA. A DIVIDEND OF FIVE PER CENT., being the sixth dividend, will be paid to depositors upon the presentation of deposit books at my office, No. 218 King street. feb27 10t LEONARD MARBURY, Receiver.
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LOCAL BREVITIES. Jeremiah Sullivan, a well known currier, who years ago was employed by C. C. Smoot & Son, in this city, died yesterday at his home in Washington. A bill was reported favorably and read the first time in the Maryland House of Delegates yesterday to sell the Chesapeake and Ohio canal under certain contingencies. The Parlor Talk at the Young Men's Christian Association to-night will be given by Professor G. W. Jones, of Washington, D. C, and will be illustrated by crayon eketches. A man in lower Fauquier, charged with the seduction of bis four teen-year-old niece, has been arrested in Washington, and is now in custody. It is feared he will be handled roughly by his neighbors. Marriage licenses were issued in Wash. ington yesterday to Thomas J. Curry, of Al. exandria county, and Lucy Beach, of Fair fax county, Richard H. Remington, of this city and Margaret E. Johnson, of Washing. ton, and to Frank D. Roys, of Washington, and Emma D. Mobley, of Fairfax county. In attending the Chinese entertainment at the Opera House to-morrow evening or night, all should carry an extra 10 cents for & cup of genuine Chinese tea, with native relishes &c. Ice cream and cake will also be furnished. The christening of Kussell Hall Carlin, the bright little one-year old son of Mr. and Mrs. G. B. Carlin. was the occasion of the gathoring last night of a number of friends at the residence of Mr. C. to witness the ceremony. Geo. Zimmerman, a brakeman on the W. & O. R. R., slipped off a car at the Junction yesterday and was dragged some distance and considerably, but fortunately not seriously hurt. Mr. Birt Tatsapaugh while at work in the round house at the Midland depot yesterday, was painfully hurt by being struck in the face by a piece of iron. Additional contributions to the Confederate monument fund have been received. From Mr. J. W. Lambert, through Mrs. J. S. B. Thompson, $25, and from Mr. James E. Yates, through same, $5 Mr. Leonard Marbury the receiver of the Farmers and Mechanics' Savings Bank was kept busily engaged to-day in paying the five per cent. dividend to depositors in that institution. The mercury in the thermometer early this morning registered 14° and to day, though bright, has been decidedly winterish. The House of Delegates yesterday passed the bill to incorporate the Fauquier and Reppabannock Railroad Company. An oyster supper for the benefit of old Pohick Church will be given to-night at the Lorton Valley school house. The ship Syren from Pensacola, Florida, loaded with lumber for Washington, is reported off Blackistones Island. Two gypsies with performing bears were on the streets to-day and attracted crowds of people.
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# The Decision in the Bank Case. In the Court of Appeals Thursday Judge Lacy, in delivering the opinion in the case of the Farmers and Mechanics' Savings Bank of this city, after reciting that the di- rectors had been grossly negligent in the dis- charge of their duties, and were therefore responsible to the depositors for the money wasted away, said: We cannot better close the discussion upon this question than by citing the case of the bank against Bossieux, much relied on be the counsel for the appellant, who says: This question has been the subject of inves- tigation and julieni determination by the United States Circuit Court for the Eastern district of Virginia. Judge Hughes, in an elaborate opinion stating the law with great force and clearness, exhibiting a clear and patient examination of all the authorities, held the defendant directors liable upon this ground: 'Gross inattention and negli- gence, sllowing fraud or misconduct on the part of agente, officers, or co directors, which could have been prevented if they bad given ordinary care and attention to their duties. Jadeed this opinion is not only the most thorough examination but the ablest exposi- tion of the law upon the subject the writer has been able to fiad, after examining many authorities, and he might well be content to rest the law of this case upon the opinion of Judge Hughes." We will, continued Judge Lacy, pro- ceed to briefly review the facts of this case to which this well established rule of law is to be applied. The question arises in this case as between the directors and the depositors, not between the directors and the stockholders. The by- laws of this bank prescribed weekly meet- ings. Lis conceded that these were scarce- ly ever held, the answers admitting that formal meetings were not held. The decree of the Circuit Court of Alexandria city that it appears to the Court that there has been no such dereliction of duty on the part of the directors or any of them as to fix upon theto personal responsibility cannot be sus- tained upon ney seund principle whatever. Upon what principle can the president be held not to be personally liable for the acts already detailed concerning him? The Commissioner reports that he withdrew without authority bonds of the bank depo ited elsewhere and caused their sale; that he overdrew his account and in other ways converted the property of the bank, aggre- gating $11,713 97. The passenger railway was allowed to overdraw its account to the amount of thousande-$11,314 91 at one time. The no es of the company were dis- counted to the amount of $6,500, and at ma- tuzity were neither protested, renewed, collec- ted, nor sued on. The overdraft was allowed to increase for a year and more without se- curity until it reached $7,530.45, which was entirely lost to the bank the president of the bank boing president of this company part of the time and one of the bank direct ors being president of the company the oth- er part of the time in question, while the treasurer of the railway compa- ny was the cashier of this savings bank. Stil-on was allowed to withdraw the sole valuable security for his note of $2,000, and that was lost. The president, lent his brother $3311 62 practically without any security, and that was lost, and actually lent him $1,211 62 a few months before the bank closed its doors lending to bis brother with no security except worthless endorsers $2300 when he had already gone to protest on a note of $590 But the co directors seek to escape responsibility for all this, includ- ing the large loss to the Washington and Ohio railroad, by claiming to have no actual knowledge of it at all. Did they exercise ordinary diligence to inform themselves, as their duty certainly required that they should? They were required to meet week- ly by their own by-laws. They did not al- ways meet semi-annually, meeting some- times once a year as we have stated. The directors, continued Judge Lacy, were in duty bound to cause the books of the bank to be examined at regular inter- vale. This they never did at ali through- out their whole career, nor did they ever call for a statement of their accounts with other banks. Their vaults and their cash- drawer were emptied by illegal abstractions sed insolvent loans, and they admit that they never knew it, and plead this as their exculpation. The stock subscribed for was not paid up, as has been stated, and yet such part as was. paid up was treated as a lone and interest paid on it; and a large part had never been paid up at the time of the suspension, and some of it has not yet been paid up. Having a bank with so small a nominal capital, with empty vauits and despoiled cash drawer, they owed at the sus pension of the bank to depositors who had Intrusted to tirem their money $53,063 63, on which they have been able to pay only 10 per cent. If these directors had any duty to perform what- fter toward their depositors, the records of this Bedo not show its performance. They plead ig- rance One of their number was the president of the Washington and Onio railroad in its last 90's and knew its condition and secured him- sel int the notes of the bank were allowed to Step unprotested, unsecared, unrecorded, uncol- lected, and unsued on. One of their number was the president of the Alexandria Passenger Railroad Company and Anew its condition. One of their number was the brother of a debtor, who was insolvent at the time of the loan of thousands to him without secarity. It is difficult to conceive that they could have been ignorant of all this; but suppose they were, their duty required that they should have looked well into sit these matters, and if they neg- Hently trusted them to others and loss has oc cand should it fall upon them or upon the de- positors who hal trusted them and whose trust they had a cepted and to whom they had solemn- promised such care and attention as was to be expected of good business-men? We think the record shows that these directors, And all of them, have been guilty of such negli rence in the premises as makes them personally hable for the losses caused by their negligence,
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THE BANK CASE-A COMPROMISE.-The directors of the late Farmers and Me. chanics' Savings Bank of this city whom the Court of Appeals recently held liable for the Josses sustained by the depositors of that bank, have effected a compromise with Col. F.L. Smith who won the suit for, and who represents the depositors. The amount the directors were held liable for was, principal and interest, about $44,000 The directors DOW agree to pay $30,000-$15,000 in sixty days and $15,000 in four months. with interest from the 20:b of April, 1889, and give the depositors the assets of the bank. These consist of a lot in Baltimore valued at $3,000; a $1,200 note secured by a deed of trust and payable upon the death of Mrs. Brayfield an insurance policy of $11,000 upon the life of Mr. Andrew Jamieson, the president ofthe bank and an interest in a suit now pending against the W. & 0 R. R. The money assets are to be paid into the bands of Mr. L. Marbury, the receiver of the bank, who will, at 80 early date, declare 8 dividend to the depositers. The compromise, it is thought, is B very fair one and the best thing that could have been done for all concerned, as by it a speedy settlement will be made and much possible litigation avoided. By the settlement the depositors will recover all the money they bad paid into the bank together with a low rate of interest. It is understood that Messrs. J. P. Agnew and Lewis McKenzie and the beirs-at-law of the late J. W. Stewart, made up the $30,000, which will be paid over to the receiver and that they will look to the other directors for a partial reimbursement.
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LOCAL BREVITIES. Both of the Norfolk steamers are detained at that port by the bigh tides and winds, Rev. Mr. Garabed, the Armenian missionary, will deliver a lecture in the Second Presbyterian Church to-night at half past seven o'clock. A delegation of volunteer firemen from Bay Ridge, N.Y., were in the city to-day and were shown the places of interest by the Alexandria firemen. Mr. Leonard Marbury, receiver of the late Farmers and Mechanics' Savings Bank, to. day began the payment to depositors of the 14 per cent. dividend. A freight train was wrecked on the Franklin branch of the Midland railroad yesterday. Five care were thrown from the track and badly damaged, but DO one was it jured. D. Bendheim announces in his regular advertisement that be is receiving new fall stock and offers three hundred dozen Misses hose at sacrificing prices. Go and get a bargain. A little boy, named John Parkins, was knocked down and run over by B colored man, on horseback, at the corner of King and St. Asaph streets, yesterday evening. Fortunately the little fellow was not much burt. The directors of the Young Men's Christian Association met last night to make out the plan for the fall work of the association. Several entertainments will shorty be given. The rooms are now closed during the day time. Creed Lewis, colored, living near Falls Church who Was arrested on Monday for violation of the internal revenue law in selling ardent spirits, was examined to-day before U.S. Commissioner John S. Fowler and discharged. This has been a cloudy, gloomy, rainy day, the weather being more like that of November than of September. The high wind which has prevailed since yesterday, still continu S Capt. W. H. Bro oks has sold to J. P. McCrink 8 lot and brick house on the west side of Lee street, north of a 10-feet alley, between Wilkes and Gibbon streets for $800. Mr. Edward B. Phillip1, son of the late Richard R. Phillips, died yesterday of consumption, in the 22d year of his age. He was & young man of many good qualities. As none of the electric lights have yet been put up, it is safe to say that the city will not be lighted by electricity to-morrow night-the third date fixed. Mr. Thos. Perry has been reappointed by Gov. Lee Flour Inspector for this city. The Perpetual Building Association last night loaned $1,600 at 25.
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# NOTICE. OFFICE OF THE ALEXANDRIA WATER CO. All persons who are in arrears in payment of their water bills are hereby notified that unless paid by the FIFTEENTH OF SEPTEMBER THE WATER WILL BE CUT OFF FROM THEIR PREMISES. By order of the Board of Directors. sep7 td B. WHEAT, President. TO THE DEPOSITORS -OF THE- FARMERS AND MECHANICS' SAVINGS BANK OF ALEXANDRIA, VA. A DIVIDEND OF FOURTEEN PER CENT. has been declared and will be paid to depositors on and after September 11th, 1889. The holders of deposit books will please leave the same at my office, No. 216 King street, as early as possible before that date. LEONARD MARBURY, sep5 2 Receiver F. & M. Savings Bank.
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CIRCUIT COURT FOR THE CITY-Judge James Keith presiding-Continuation of yes terday's proceedings.-E L. Howard VS. E B Powell; decree confirming possession of property to plaintiff. J F. Hammersley V1. A. & F. Ry. Co., and City Council VS. E.S. Fleming ; causes dismissed. Mary Robinson VR. John DeSilva ; jadgment for plaintiff for costs. To-day-Benoni Wheat VP. City Council ; judgment for defendant for $25 and costs. Kelly & Carr VR. Nalls & Co., debt; jury and verdict for defendant. C. C. Carlin was appointed commissioner in chancery for the Circuit Court in place of J K. M. Norton, resigned. J. A. Marshall V8, Farmers and Mechanice' Savings Bank; report of Commissioner Armstrong cor fi med, and decree for sale of property in hands of receiver, and for distribution. Court adjourned till to -morrow morning at 10 o'clock. Judge Keith will hold a special term of the Circuit Court for the County on Thursday.
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LEONARD MARBURY, Receiver of the Farmers and Mechanics' Savings mh27 w4w Bank of Alexandria, Va.
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Receiver of the Farmers and Mechanics' Savings mh27 w4w Bank of Alexandria, Va.
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FARMERS AND MECHANICS' SAVINGS BANK.-The property of the Farmers and Mechanics' Savings Bank, of this city, heretofore advertised in the GAZETTE, was 0'fored at public auction to-lay by Mr. R. T. Luces, suctioneer, for Mr. Leonard Marbu ry, receiver, and the aggregate bids not reaching the limit price named in the decree of sale from the Circuit Court of this city, the entire offering was withdrawn. On the lot of ground in the city of Baltimore. the Court fixed a limit of $1,800. Only $1,200 was offered. On the three life insurance policies of Andrew Jamieson, amounting to $12 500 the decree of the Court fixed a value of $5 $5 000, and the offerings agregated $3740, $3 and for the policies, etc., of Mrs. Spaulding, limited by decree at $800, only $600 was offered.
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CIRCUIT COURT FOR THE CITY.-Judge James Keith presiding -E. L. Daingerfield was appointed B trusiee of the Charlotterville and Rapidan R. R, in place of S. M. Felton, deceased. Joo. Lyons, of Washington, and J. T. Goodrich, of Fredericksburg, were admitted to practice in this court. Eilen Marks and Lydia Marks et al., decree for sale. Anna S. Pierpont ve. Minnie W. Hender800 : decree referring case to J. T. Callahan, commissioner. T. 0 Ring VS. Alexandria and Fredericksburg R. R., et al., case dismissed. J. R. Caton, trustee, V8. H. J. Kintz etal., jury, &o., and case non-suited. Jno. Howard VS. McVeigh's exo'r. ; jury and verdict for plaintiff for $7,652 63 with interest from June 25, 1885. J. A. Marshall VS. Farmers and Mechanice' Savings Bank, on petition of Pilgrim's Progress Society ; receiver directed to pay said secretary the dividend due. Court adjourned until tc-morrow.