21483. Farmers' and Mechanics' Savings Bank (Alexandria, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 27, 1878
Location
Alexandria, Virginia (38.818, -77.082)

Metadata

Model
gpt-5-mini
Short Digest
97e7f545

Response Measures

None

Description

Articles indicate the bank was in the hands of a receiver (Jas. H. Reid) by June 1878 with an inventory of assets and liabilities, and subsequent notices discuss dividends paid by the receiver in 1879. No article describes a depositor run prior to suspension; the bank appears to have failed/suspended and remained closed under receivership while dividends were distributed.

Events (3)
1. June 27, 1878 Receivership
Newspaper Excerpt
Inventory of assets and property of The Farmers and Mechanics' Savings Bank ... received ... by Jas. H. Reid, receiver of said bank.
Source
newspapers
2. January 18, 1879 Other
Newspaper Excerpt
A DIVIDEND OF SEVEN PER CENT will be paid depositors in this Bank on the FIRST OF FEBRUARY next ... JAS H RRID, Receiver Far & Mec. Sav Bank.
Source
newspapers
3. November 10, 1879 Other
Newspaper Excerpt
The receiver of the Farmers' and Mechanics' Savings Bank was kept busy to-day paying to the depositors of that Bank the 10 per cent dividend.
Source
newspapers

Newspaper Articles (5)
1. June 27, 1878 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, June 27, 1878

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Article Text

FARMERS' AND MECHANICS' BANK.-A meeting of the depositors of the Farmers' and Mechanics' Savings Bank was held last night, E. S. Leadbeater in the chair, and Cornelius Cox secretary. The chairman stated the ob. ject of the meeting, and after some preliminaries, Mr. Reid, the receiver, was asked for a state. ment of the affairs of the bank. A depositor present, who had prepared a copy of the receiver's report to Judge Keith, presented the report which was read and explained by Mr. Reid, and after a conversational debate, the following res olution was unanimously adopted :Resolved, That the Alexandria Gazette be, and it hereby is, requested to publish the copy of the report of James H. Reid. receiver of the Farmers' and Mechanics' Saving Bank. for the benefit of those of the public who are in terested in said bank. The meeting then adjourned. The following are extracts from the report :Inventory of assets and property of The Farmors and Mechanics' Savings Bank, of Alexandria, Va., received from J. Tacey, trustee, by Jas. H. Reid, receiver of said bank. Due on stock-W. Blythe $165 19, secured by his deposit of $368; A. Jamieson $1,000, secured by $2,000 W. & O. bonds; L. McKenzie $200, no security. Notes, real estate, &c.-Robert Jamieson $1,700. no security: do. $600, endorsed A. Jamieson and L. McKenzie; Jamieson & Collins $8,311 62, no security; A. Jamieson $9,681 93, security, life ins. policies Culpeper Co., warrants $1,176 87 ; $3,00) L. & H. R. R. bonds, and $5,000 W. & O. R. R. bonds; Washington and Ohio R. R. $18,361 83, security $55,000 W. & O. bonds; P. B. Stillson $2,000, deed of trust on land, worthless; G. S. Spaulding, $600, deed of trust on land; Alexandria Passenger Railroad $3,735 40, no security; real estate $6,307 55; sundry notes and claims believed to be good $4,012 18; sundry notes and claims worthless $105 S7; cash $141 73, making a total of assets, good and worthless, of $51,953 29. Due depos. itors $47,797 33; due stockholders $8,600.

2. December 16, 1878 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, December 16, 1878

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Article Text

FARMERS' AND MECHANICS' SAVINGS BANK. -Is - is understood that there is some prospect of the payment of a divideed of about eight per cent to the depositors of the late Farmers' and Mechanies' Savings Bank in a short time, It had been hoped that the dividend would be nearly three times as large, bus the suit against the official bond of the president, which had to be brought in Baltimore, as the bondsmen resided there, has not yet been decided, and the Sauborn farm, Dear this city, still remains in the baods of the receiver, SD that no more ready cash could be realized.

3. January 18, 1879 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, January 18, 1879

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Article Text

The Keystone Club, of Washington. D C, will give an excursion to Harrisburg, Pm, on Monday, the :0.6 instant leaving the Baltimore and Petomac depos at 1 o'clock, no to which time tickets CAD be had at the depot. Tickets $3 for the round trip, and good for return on any trein for three days, Co. A will accompany the excursion. E. R CHAPMAN, President. Washington, D. c, Jan. 18. -it. 'ARMERS' AND MECHANICS' SAV E INGS BANK OF ALEXANDRIA. Va., January 18:h, 1879. a DIVIDEND OF SEVEN PER CENT will be usid depositors in this Bank on the FIRST OF FEBRUARY next Depositors will leave th is pass books At the Bank of the German Banking Co, 50 that the proper entries JAS H RRID, may be made therein. jin 18-td Receiver Far & Mec. Sav Bank.

4. May 28, 1879 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, May 28, 1879

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Article Text

# FARMERS' AND MECHANICS' SAVINGS BANK. -In the case of Marshall vs. The Farmers' and Mechanics' Savings Bank, in the Circuit Court to day, Mr. Frank Hume, of Washington, tendered his upset bid of ten per cent on the amount of $6,300 for which the "Warwick" estate sold. At the request of the counsel for the receiver the case was continued until Friday, when argument will be heard upon the question whether the sale to Mr. Robert Portner shall be confirmed, or the upset bid of Mr. Hume received and a new sale ordered. -In the event of the latter decision, a bond will have to be given to guarantee the payment of the amount of deferred payments.

5. November 10, 1879 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, November 10, 1879

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Article Text

# LOCAL BREVITIES. A subsoriber in Danville writes: - "When myself and brothers fail to get the Gazette we feel as bad as if we had misseclourthroorquare meals a day." The receiver of the Farmers' and Mechanics' Savings Bank was kept busy to-day paying to the depositors of that Bank the 10 per cent dividend. A man named Smith fell overboard at the King street dock on Saturday, and was rescued by Mr. George Laycook.