21505. First National Bank (Bedford, VA)

View Charter #4257 on SPMC

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 4257
Charter Number: 4257
Start Date: January 1, 1896
Location: Bedford, Virginia (37.334, -79.523)

Metadata

Model: gpt-5-mini
Short Digest: 8c85cf4b

Response Measures

Full suspension, Books examined

Other: Receiver appointed (John Goode). Dividends paid and assets sold over 1896-1897 winding up.

Receivership Details

Depositor recovery rate: 25.5%
Date receivership started: 1896-05-02
Date receivership terminated: 1899-08-15
OCC cause of failure: Losses
Share of assets assessed as good: 12.2%
Share of assets assessed as doubtful: 41.7%
Share of assets assessed as worthless: 46.1%

Description

Multiple contemporaneous articles report a continuous run on the First National Bank since Jan 1, 1896, heavy withdrawals (~$50,000), suspension on April 16, 1896, and appointment of a receiver (Hon. John Goode) June 23, 1896. The bank remained in receivership and paid dividends; it did not reopen as an operating bank.

Events (6)

1. March 13, 1890 Chartered

Source: historical_nic

2. January 1, 1896 Run

Cause: Bank Specific Adverse Info
Cause Details: Continuous, prolonged withdrawals beginning Jan 1, 1896; bank unable to realize assets quickly enough to meet withdrawals and had significant borrowed money.
Measures: Bank officers made a heroic fight to meet withdrawals and attempted to realize on assets; no ad hoc liquidity remedy reported.
Newspaper Excerpt: There has been a continuous run on the First National Bank since the 1st of January, and during that time over fifty thousand dollars of deposits have been withdrawn.
Source: newspapers

3. April 16, 1896 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Could not realize on assets sufficiently to meet rapid withdrawals after a long continuous run; reported capital $50,000, surplus and profits $23,000, deposits and borrowings large relative to resources.
Newspaper Excerpt: The First National Bank at this place suspended a few minutes after the doors were opened this morning... The First National Bank here suspended payment this morning at 10 o'clock.
Source: newspapers

4. May 2, 1896 Receivership

Source: historical_nic

5. June 23, 1896 Receivership

Newspaper Excerpt: A telegram was received this evening from Washington appointing Hon. John Goode receiver for the First National Bank here.
Source: newspapers

6. October 19, 1896 Other

Newspaper Excerpt: The comptroller of the currency has declared dividends in favor of insolvent national banks as follows: Twenty per cent the First National bank of Bedford City, Va.; ... The receiver of the First National Bank will, some time during the present month, declare to the depositors of the bank a dividend of 15 per cent.
Source: newspapers

Newspaper Articles (21)

1. April 17, 1896 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, April 17, 1896

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BRIEF TELEGRAMS. The gold reserve closed yesterday at $126,663,751. The First National Bank of Bedford, Va., has suspended. Marquis Yamagata was tendered a reception at New York yesterday. In the senate yesterday Senator Hill made a sensational. speech against Senator Petter's resolution to investigate the recent bond sale. The temperature In Chicago yesterday was 87 degrees, the hottest April day since the signal service was established there. Eighty-five degrees in New York city. Judgments aggregating $20,000 were filed yesterday against the large wholesale millinery house of J. Strassburger & Co., Pittsburgh, and it la now in the hands of the sheriff.

2. April 17, 1896 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, April 17, 1896

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VIRGINIA NEWS. Large quantities of seed oysters are being shipped from Kent county, Md., to be planted in York river. Dr. A. Schultz Miller, a prominent physician, died at his home, near Newmarket, Shenandoah county, yesterday. Prof. G. W. Hoenshel, principal of the Shenandoah Normal College, died on Sunday last at his residence in Reliance, of consumption, aged thirty. seven years. William Walke, a lumberman, residing in Berkly, was attacked by an epileptic fit while alone in a small boat on the Elizabeth river yesterday and, falling overboard, was drowned before assistance could be rendered him. Gov. O'Ferrall, it is understood, has purchased the handsome Beattie home near Forest Hill Park, just beyond Manchester. The purchase is made, it is supposed, with the view of the Gov. ernor's locating there after his term expires. The First National Bank, at Bedford City, suspended payment yesterday morning, and a short time after the Liberty Savings Bank also closed its doors. There has been a gradual run on the banks for some time and nearly all the deposits had been withdrawn. At a public meeting held at Fredericksburg yesterday resolutions were passed asking the government to establish national parks at the battlefields of Fredericksburg, Spottsylvania, The Wilderness and Chancellorsville, and asking the co-operation of the Grand Army and United Confederate Veterans: Surgeon P. M. Rixey, of the navy, who is a Culpeper man, was thesubject of a resolution introduced by Representative Boutelle yesterday, authorizing him to accept from the King of Spain the grand cross of naval merit, with the white distinction mark, in recognition of service rendered to the crew of the Santa Maria, who were injured by an explosion on that ship. The republican convention of the Sixth congressional district met at Roanoke yesterday evening and elected James McLaughlin, ex-postmaster of Lynchburg, and Everett Sproul, of Roanoke, without opposition, delegates to St. Louis. They were instructed for McKinley for President. Colonel Lamb was endorsed as State chairman, and Brack Stovall was nominated for presidential elector. A beautiful marriage took place at Garrisonville, Stafford county, on Wed nesday. The ceremony was performed at half-past 3 o'clock at the residence of the bride. The contracting parties were Miss Clara G. Parker, of Stafford, and John W. Foulkes, of Manassas The maid of honor was Miss Nannie K. Foulkes, sister of the groom, and the two bridesmaids were the Misses Carter, of Lynchburg, relatives of the bride. A private letter has been received by a gentleman in Manchester from a friend at Chesterfield Courthouse, which states that a rumor has reached that place that a family named Snead, residing about seven miles from that place, had been found murdered. The letter states that the family consisted of father, mother and two children, the eldest one about ten years of age. They lived some distance from any neighbors, and it was only by chance that the discovery of their death was made. There is much doubt of the truth of the rumor.

3. April 17, 1896 The Times Richmond, VA

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BEDFORD BANKS CLOSE. THE FIRST NATIONAL SUCCUMBS TO 4 LONG-CONTINUED RUN. The Liberty Savings Bank Also Closes Its Doors-An Effort Will be Made to Reorganize at Once. BEDFORD CITY, VA., April 16.-Special.-The First National Bank at this place suspended a few minutes after the doors were opened this morning, and immediately thereafter the Liberty Savings Bank closed its doors. There has been a continuous run on the First National Bank since the 1st of January, and during that time over fifty thousand dollars of deposits have been withdrawn. The bank officers have made a heroic fight for life, but had at last to succumb to the continued drain, and could not realize on its assets fast enough to meet the withdrawals. It is impossible at this time to get any statement of the financial status of the banks, but it is believed that the depositors will get their money after some delay. Bedford has been singularly unfortunate in this respect, having experienced a similar crash about nine years ago, when the Bank of Bedford closed its doors. An effort will be made to reorganize the First National Bank at once. A dispatch from Washington last night says: The First National Bank, of Bedford City, Va., failed to-day. Its capital was $50,000 and surplus and profits $23,000. Its individual deposits amounted to $78,000 and the bank owed $55,000 borrowed money. Bank Examiner Burgwin has been placed in charge of the bank.

4. April 17, 1896 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, April 17, 1896

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TWO BANKS SUSPEND. The First National and the Liberty Savings at Bedford City. BEDFORD CITY, VA., April 16.-(Special.)-The First National Bank here suspended payment this morning at 10 o'clock, and a short time after the Liberty Savings Bank also closed its doors. Since January 1st there has been a continuous run on the First National. during which time about $50,000 of deposits have been withdrawn. The bank officers have made a brave fight, but were unable to realize on the assets sufficiently to meet the rapid withdrawals. The actual status of the bank is not yet fully known, but it is believed that, after some delay, depositors will be paid in full.

5. April 17, 1896 Rock Island Argus Rock Island, IL

Article from Rock Island Argus, April 17, 1896

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National Bank Suspends. WASHINGTON, April 17.-Acting Comptroller Coffin has received a telegram stating that the First National bank of Bedford, Va., has suspended payment. The bank has a capital of $50,000 and owes to depositors and others about $126,000.

6. April 24, 1896 Tensas Gazette Saint Joseph, LA

Article from Tensas Gazette, April 24, 1896

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National Bank Suspends. Acting Comptroller Coffin has received a telegram stating that the First National Bank of Bedford, Va., Friday suspended payment. The bank has a capital of $50,000 and owes to depositors and others about $126,000.

7. April 25, 1896 The Times Richmond, VA

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THE BEDFORD BROKEN BANKS. Beautiful Fire Scenes on the Peaks of Otter. BEDFORD CITY, VA., April 23.-Special.-The failure of the banks has been the principal topic of interest during the past week. It is impossible to obtain the actual facts as to the status of the banks even at this time. Your correspondent has made every effort to obtain some information concerning the assets and liabilities, but without results. Inquiry at the First National Bank this morning only resulted in the statement by Mr. Burgwyn, the officer in charge, that he had not yet had time to make a full investigation, and was not allowed to make any statement at that time. The common belief is that all depositors will be paid in full. The Liberty Savings Bank made an assignment to J. W. Smith, trustee, conveying all its property and assets to secure its creditors. It is probable, when the Circuit Court meets, that an application will be made to that court to appoint a receiver for this bank also. Mr. Smith, who is in charge, states that it is believed that this bank will also pay its depositors in full, but there are doubts, about the correctness of this statement. A branch of the Lynchburg Trust and Savings Bank began busniess here this morning, with a capital stock of $150,000. It is officered by the most conservative business men of Lynchburg. They are all gentlemen of wealth, which insures to all depositors absolute safety. Allen Cuculler, who has had long experience in the banking business, has been elected cashier, and W. A. Fitzpatrick, who was book-keeper for the late First National Bank, holds a similar position in the new bank. The suspension of the banks has had quite a depressing effect on all branches of business, but it is hoped and believed that things will soon assume their normal condition. Mrs. Nannie J. Roberts, wife of D. W. Roberts, of Bedford county, died yesterday at her home, near Jeter's Chapel; at which place the funeral services were conducted to-day by Rev. Crumpecker. Deceased was only twenty-two years old. A colt belonging to J. S. Parker, who lives a short distance north of town, was bitten by a mad-dog last fall. The colt died last week, with every symptom of rabies. Mrs. R. B. Boatwright, who has been visiting her daughter, Mrs. J. H. Clark, returned to her home in Buckingham county, this week, accompanied by Mrs. Clark, who will spend several weeks visiting her parents. Mrs. Boatwright is the mother of Presdeint Boatwright, of Richmond College. Cabell Davis, of Richmond, is here, making arrangements for the opening of the Hotel Bedford for the summer months. A forest fire has been raging in the Peaks of Otter for several days past. The flames extend almost from the bottom to the top of the mountain, and present a beautiful sight at night, and are visible from nearly all parts of the county. From seventy-five to one hundred men are fighting the fire, with but little success. On Sunday night it became so serious that some of the farmers along the base of the peak despaired of saving their homes, and began to move out their household effects, when fortunately a favoring breeze changed the course of the fire. It has been very destructive to wild game of all sorts, as well as to fences and timber.

8. April 30, 1896 Union County Courier Elk Point, SD

Article from Union County Courier, April 30, 1896

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LATEjTELEGRAPHIC NOTES BARABOO, Wis.- Andrew McFarland was killed by cars running over him. MAIDEN ROCK, Wis. - Engel Hager captured nime young wolves close to town. ST. LOUIS.-A general strike for an eight hour day by union carpenters and horse shoers of the United States is expected by the labor organizations of St. Louis on May 1. PHILADELPHIA. - Saturday was the hottest April day in the history of the bureau in this city, the thermometer showing 93 degrees at 4 o'clock in the afternoon. There were many cases of heat prostrations. WASHINGTON. - Acting Comptroller Coffin received a telegram stating that the First National bank of Bedford, Virginia, has suspended payment. The brnk has a capital of 850,000 and owes to the depositors and others about $126,000. MADISON, Wis. - Judgments .ive been entered against the Ogilvie Dry Goods Company for $3,500 in favor of the H. H. Claiin Company, of New York. Ogilvie then assign 1 to M. S. Klauber. The nominal assets of the company are given as $80,000, and the liabilities at considerably less. JAMESTOWN, N. D. - This city has a novel machine, recently invented invented by a millwright. here, in successful operation in a flouring mill. It consists of a threshing, washing and drying machine through which the wheat is put previous to its being ground. OLDTOWN, Me. - The East Maine Methodist conference, by a vote of 55 to 10, declared in favor of admitting either male or female delegates to the general conference. HOLLAND, Mich.-The body of Enos W. Lawrence was found floating in Black river. There are indications of murder. LONDON-The Times prints information tending to show that the arming of the inhabitants of the Transvaal, which is going forward with such energy, is being assisted from German sources. CHICAGO-Ezekial Smith, a wealthy contractor, who was recently sued by Miss Ella Donaldson for $50,000 for breach of promise, has compromised by marrying the plaintiff, and has started for California.

9. May 6, 1896 The Abbeville Press and Banner Abbeville, SC

Article from The Abbeville Press and Banner, May 6, 1896

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Domestic. RECORD OF THE LEAGUE CLUBS. Per Per Clubs. Won. Lost. ct. Clubs. Won. Lost. ct 3 .500 3 .800 Philadel .4 1 Chicago .500 Cincinnati.3 8 .800 Pittsburg 1 .500 .600 St. Louis 3 2 Brooklyn .883 4 .2 Boston .600 2 Cleveland .200 4 New York. .600 Washing'n 3 2 Baltimore.8 3 .500 Louisville 5 .167 The American National Bank of Denver, Col., closed its doors. Extensive damage has been done to the fruit crop of California by frosts. The United States battleship Massachusetts in its run from Delaware Capes to Cape Cod proved even faster than the battleship Indiana. Stocks opened lower on sales for London account. A false rumor was circulated on the other side that the Venezuelan controversy might break out afresh. There was good local buying, however, and the closing prices were considerably higher. W. F. Workman and Layman Williams, prominent citizens of Raleigh County, West Virginia, drank carbolic acid for whisky, and died from the effects. J. D. Buxton. cashier of the Minneapolis (Minn.) postofficee, has been placed under arrest for embezziement. The shortage 18 about $2100. Paderewski, the pianist in New York City, gave William Steinway $10,000 as a fund to establish prizes for American composers. Edia Stimquist, Mrs. Burden's kitchenmaid, was indicted, arrested and sent to the Tombs, New York City, on a charge of complicity in the robbery of the jewels. Governor A. I. Boreman, of West Virginia, died at Parkersburg. Starling Savage was taken from his bed at Irving College, Tenn., by a mob of masked moonshiners, and hanged to a tree. The doomed man was suspected of being a spotter for the United States Internal Revenue. Christ Union Church at Hellerstown. Penn., was struck by lightning and ourned to the ground. Loss, $12,000; insurance, $9000. Edward Pardridge, a noted wheat speculator, died of Bright's diseasei Chicago, III. Insurance agents have been instructed to cancel fire policies on buildings in New York affected by the Raines Liquor Tax law. The Appellate Division of the New York Supreme Court sustained the constitutionality of the Percy-Gray Racing law. Field Marshal Yamagata, of Japan, sailed from New York for Havre, on his way to Moscow, where he will represent Japan at the coronation of the Ozar. Three men were killed by an explosion in Peoria, III. At Turner's Falls, Mass.. five children were suffocated in a tenement-house fire. The names of the dead are Aime Dubois, four years old; Lena Dubois, seven. both children of Joseph Dubois; Rosie Roumier, Dubois's step-daughter. a girl of thirteen: Josephine Coumartine. twelve years old, and Edward Coumartine, ten years old. children of Charles Coumartine. The children were all French. At Maitland, Mo., the Farmer s' Bank wa robbed by three masked men, who blew the safe open and secured $1000 in silver. Baron Constantine de Grimm, artist, cartoonist, journalist. soldier and bohemian, died,at the age of fifty, in New York City, of pneumonia, accompanied by a complication of kidney disease. The First National Bank of Bedford City, Va., failed. Its capital was $50,000, and surplus and profits $23,000. Its individual deposits amounted to $78,000, and the bank owed $55,000 borrowed money. Thomas Brown, who was serving a seven years' sentence for burglary in the Jackson (Mich.) State prison, was killed whileattempting to escape. The lawyers of East New Jersey have induced Chancellor McGill to established a branch court at Asbury Park to accommodate the lawyers practicing in the territory between South Amboy and Toms River. Marquis Yamagata, the Japanese Field Marshal, visited the City Hall, New York City, and was received by the Mayor and the heads of various City Departments.

10. May 12, 1896 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC

Article from The Progressive Farmer, May 12, 1896

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erty.) But he couldn't real ze on the assets, even in New York, where they say money goes begging for borrowers, which, of course, is false. The Castle Braid Company, Brooklyn, N. Y, is in the hands of a receiver. It was a "sound money" concern, of course. The Oregon Railway and Navigation Company, Portland, Oregon, has been put in receivers' hands owing to "good gold standard times." The German National Bank, of Denver, has been in the hands of a receiver two years and has paid but 10 per cent. of its indebtedness. The Commercial National Bank, same city, has been in a receiver's hands for three years and has paid but 35 per cent. That is the result of the "best financial system in the world." Where is old returning prosperity I The Bank of Fairfield, Ill, has closed its doors on account of too much returning prosperity. The Northern Manufacturing Company, Oswego, N Y, is in the hands of a receiver. Not enough sound money is the trouble. E Kleinanan & Co., New York, clothiers, have assigned. Liabilities are all "sound." McIver Bros., the largest mercantile firm at Sanford, N C., assigned on the 5th. Liabilities $50,000 (sound ) They probably have enough of the gold standard business to last awhile. T. R Grabam, a Philadelphia sound money man, has disappeared owing large amounts of money. It is "gude in Yurrip." H. C & D. D. Beatie, one of the oldest firms in Richmond, Va, assigned last Tuesday. This is another star in the crown of the "sound money" Times and the Dispatch. The Foster Woolen Company. Kansas City, Mo, has assigne d Assets, $25,000. Liabilities unknown. The German-American Title Com pany, Louisville, Ky., has assigned. Liabilities, $209,000; assets, $250,000. The liabilities are supposed to be "sound J. L Hudson & Co., clothing, Buf falo, N. Y., have failed. Wayland Trask & Co., the most prominent brokers on Wall street, have failed. They robbed their victims until nothing was left but the single standard. The Investment Trust Co, Topeka, Kansas, largely controlled by Boston capitalists, has failed for a good many dollars' worth of sound liabilities. W. Gregory, lumber dealer, Richmond, Va, assigned on the 7th. Lia bilities, $4 900, (sound.) The First National Bank and Lib erty Savings' Bank, both of Bedford City, Va., have succumbed to the inevitable. But Rothschilds has got his bonds all the same. J. H. Louis, of New York, is charged with stealing from Schloss & Co., clothing dealers, for which firm he was manager. He is a sound money man G. L Schro'eder, a member of the New York Cotton Exchange, has failed for a large number of sound dollars The London Universal Bank, London, England, has failed for a large sum, which they claim to be able to pay in full. Why didn't they pay it then? It Was established in 1857 W. H. McGee, one of the wealthiest men in Bedford City, Va., has made an assignment because he couldn't pay a debt of 10,500 sound dollars-"gude in yurrip." A shovel trust has been formed in Boston. They propose to reduce the output and raise the price 20 per cent. That is one of the ways to go through single standard times. But what a clamor would be raised if the farmers decide to sit down and reduce the production of all cereals and raise prices. They would be called all sorts of names. But trusts are formed and the promo tors are called smart. A dispatch brings the information that Ex Gov. Bob Taylor was nomi nated for Governor by the Tennessee State D. pcratic Convention Friday. Telegram says: "The administration of Cleveland was only referred to by

11. May 12, 1896 The Times Richmond, VA

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Bedford City Broken Banks. BEDFORD CITY, VA., May 11.-Special.-The recent failure of the banks and the depression in business continues to be the absorbing tople of conversation in Bedford. Col. Burgwin, the National Bank Examiner, has completed his report of the affairs of the First National Bank, which has been forwarded to the Comptroller at Washington. The people here, however, know no more about its condition than they knew on the morning it closed. Mr. Burgwin has been annointed temporary receiver, but he refuses to give out any statement concerning its affairs. The grand jury has been laboriously engaged for several days investigating the condition of the Liberty Savings Bank. They adjourned Wednesday to Tuesday next, when they will continue the investigation. It is understood that several indictments will be made, but nothing has been given out publicly, exgept that Commonwealth's Attorney Claytor stated in open court that he would retire from the conduct of the cases, which is interpreted to mean that he had information that indictments would be made. The reason given by Mr. Claytor, for this action is that all the parties, except two, were related to him by blood or marriage, and that he thought the best interests of the Commonwealth demanded that he step aside, and that the court appoint an attorney to conduct the prosecution. The people are waiting with bated breath the action of the jury on Tuesday next.

12. May 16, 1896 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, May 16, 1896

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BEDFORD CITY INDICTMENTS. The Grounds on Which They Were Brought. BEDFORD CITY, May 15.-(Special.)The grounds for the indictment of parties connected with the Liberty Savings Bank, a list of whom was given in the Dispatch of Thursday, and who may be classified under two general heads, can be briefly stated as follows: The cashier of the bank, Mr. J. W. Smith, is indicted on the charge of embezzling the sum of $68,500 of the funds of the bank, and Mr. T. D. Berry is indicted as an accessory to this act. There are other indictments against the same parties for smaller amounts, included in the above. The foundation for these indictments is understood to be the fact that Mr. Berry borrowed at different times these amounts from the bank, with the consent of the cashier, without giving. in the estimation of the grand jury, sufficient security, although the bank holds the notes of the firm of Berry Brothers for all of these sums. The indictments included in the second class are for making alleged false and misleading statements as to the financial condition of the bank. The indictment declares that the said statement reported $28,796.42 in other stocks and mortgages, When in reality the assets were of little value, and that this statement represented the paid-in capital of the bank as $55,000, when the bank had the note of Mr. Berry for $11,500 of that amount. Indictments under this classification were returned against Mr. R. B. Claytor, the president; E. B. Stone, vice-president; J. W. Smith, and H. C. Lowry. A few years ago the capital stock of the Liberty Savings Bank was increased, the subscriptions to be paid in instalments. The notes of the subscribers to new stock were taken for their subscriptions, in whole or in part. The note of Mr. Berry was created in this way. There is much interest and excitement prevailing, and a majority of the better people feel great sympathy for these gentlemen, who have become involved in these unfortunate business transactions, and retain their faith in their integrity. They believe that but for the rush made on the First National Bank. which forced it to suspend, the calamity would have been averted and time afforded to adjust these various transactions.

13. June 24, 1896 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, June 24, 1896

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VIRGINIA NEWS. Hon. John Goode, has been appointed receiver for the First National Bank at Bedford. The closing exercises of the Virginia Agricultural College, at Blacksburg, were largely attended yesterday. W. W. Tribbett, for many years one of the most prominent figures in Richmond's wholesale trade, died yesterday. The ten-year-old son of Zachariah Efford, of Northumberland county, was drowned Saturday while bathing in Coan river. Consul General Lee's brother, Capt. Dan M. Lee, of Stafford county, who is in constant correspondence with his brother, denies emphatically that Gen. Lee has written the private letter concerning Cuban affairs reported in the morning papers. Governor Lowndes, of Maryland, has written to Governor O'Ferrall, asking that the three Maryland crabbers, captured by Virginia police, be released. The boat seized by Marylanders in Virginia waters has been returned to Accomac county. The County Court of Page yesterday overruled the motion for a new trial for Albin N. Kibler, who was tried at the May term of the court for the murder of his uncle, Willis D. Kibler, and found guilty of murder in the first degree. An appeal will be taken.

14. June 24, 1896 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, June 24, 1896

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Hon. John Goode Receiver. BEDFORD CITY, VA., June 23.-(Special.)-A telegram was received this evening from Washington appointing Hon. John Goode receiver for the First National Bank here.

15. June 26, 1896 The Norfolk Virginian Norfolk, VA

Article from The Norfolk Virginian, June 26, 1896

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Hon. John Goode has been appointed receiver for the First National Bank at Bedford.

16. October 11, 1896 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, October 11, 1896

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HON. JOHN GOODE. WHY HE IS NOT SPEAKING IN THE CAMPAIGN. Cordial Endorsement of BryanThe Good Work of the DispatchBedford City Locals-Religious and Social Notes. BEDFORD CITY, October 10.-(Special.) Surprise has been expressed that Hon. John Goode has not actively participated in the political campaign that is stirring the nation as no previous one has ever done. When interviewed on the subject this morning, Mr. Goode stated that his duties as receiver of the First National Bank were of such an exacting character, requiring his constant presence, that it had been impossible for him to accept any of the numerous invitations he had received from many points, to address the people. He entertains a very high opinion of Bryan, and cordially endorses him and will cast his vote for him. In his long experience of the county of Bedford in regard to political questions, he has, he said, never seen such unanimity on the part of as large a proportion of Democratic voters to support any cause as that which now prevails on the free silver question. In referring to the conduct of the Dispatch during the campaign, Mr. Goode said: "In my opinion, the campaign in Virginia has been conducted by the Dispatch with unusual vigor and ability. Its editorials have been very spirited and pointed. They have done a great deal in forming the Democratic columns and in stirring up the people to a full sense of the important issues involved." RELIGIOUS. The final quarterly conference of the Methodist Church, prior to the meeting of the annual conference, which takes place at Lynchburg, November 11th, was held this week, and presided over by Rev. Oscar Littleton, the presiding elder of the district. The Board of Stewards of the Church for the coming year were elected as follows: Messrs. A. M. Hughlett, J. F. Spencer, W. A., Fitzpatrick, E. B. Stone, T. C. Jopling, O. C. Rucker, W. W. Berry, Jr., J. H. Walker, J. E. Wamsley, and E. S. Fisher. Mr. J. F. Spencer was chosen recording. and T. C. Jopling as district steward. Professor A. M. Hughlett, of RandolphMacon Academy, again received license as an exhorter. Mr. Hughlett, in the absence of the pastor, has frequently filled the pulpit of the church here, and his discourses are very earnest, able, and impressive. Mr. Alexander Miller, a student of the academy, was granted the exhorter's license. In addition to the trustees that have for a long time held the position, four additional ones were elected, who are Messrs. L. R. Gills, W. A. White, G. P. Parker, and Dr. T. C. Dennis. This is the largest church organization in the town, and is full of zeal in all of the various departments of Church work. The present pastor, Rev. J. T. Whitley, has been most acceptable, and wields a large influence in the entire community. He is an able preacher and model pastor. THE BROKEN BANK. The receiver of the First National Bank will, some time during the present month, declare to the depositors of the bank a dividend of 15 per cent. Mr. Goode says that It is impossible yet to ascertain what amount the bank will pay out, as some of the claims have not been realized upon, and there are several suits pending th connection with other claims. The second trial of Mr. J. W. Smith, in connection with the affairs of the Liberty Savings Bank, which had been set for Thursday, did not come up, as

17. October 20, 1896 The Wichita Daily Eagle Wichita, KS

Article from The Wichita Daily Eagle, October 20, 1896

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DIVIDENDS OF FAILED BANKS Together With Some Account of Fresh Commercial Smashes, Washington, Oct. 19.-The comptroller of the currency has declared dividends in favor of insolvent national banks as follows: Twenty per cent the First National bank of Bedford City, Va.; 20 per cent the Kearney National bank of Kearney, Nebraska; 20 per cent the First National bank of Port Angeles, Wash.; 15 per cent the Farmemrs' National bank of Portsmouth, Ohio; 10 per cent the First National bank of Corry, Pa.; 4½ per cent the City National bank of Hastings, Neb. Hartford, Conn., Oct. 19.-Judge Henry E. Taintor, receiver for the assigned banking firm of George P. Bissell & Co., today filed in the superior court a partial inventory which shows 800 depositors, with total deposits of $290,000. All assets that could be found Monday total $307,236.33, but the receiver is unable to give any approximate statement of the liabilities and aside from the fact that the failure is known to be a very heavy one, nothing has as yet been ascertained. Buffalo, N. Y., Oct. 19.-The Western New York Preserving and Manufacturing company, of Springville, the largest business concern of that village, has gone into the hands of a receiver. Statements made to the court show the assets to be $26,756; liabilities $167,373. Philadelphia, Pa., Oct. 19.-Coon Bros., wholesale cheese dealers, doing business at 29 Water street, made an assignment today for the benefit of their creditors. Stringency in the money market caused the failure. No statement of assets or liabilities was given out. Topeka, Kan., Oct. 19.-The Golden Eagle Clothing company, managed by S. Ettlinger, failed today. Assets and liabilities about $30,000 each.

18. July 30, 1897 The Times Richmond, VA

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TEXAS FEVER THERE. State Veterinarian Niles Discovers the Disease Bedford County, BEDFORD CITY, Va., July 29.-Spectal. -State Veterinarian Miles writes to Thos. S. West, chairman of the Board of Supervisors, that his assistant has discovered Texas fever in the cattle on Hogan's farm, this county, which farm has been quarantined, as also Jesse Pollard's, of Otter Hill, where ticks exist. Mr. Miles states that unless these diseases are stamped out It will become necessary to place Bedford county below the quarantine line next season, and recommends that the Board of Supervisors pass a nofence law as the most efficacious way of accomplishing this object. Much concern is felt by the farmers in regard to this matter, and steps will be immediately taken to stamp out the disease. The remaining assets of the First National Bank will be sold at auction September 4th and the receiver's office-closed. The bank has paid 23 per cent. to depositors, and if certain suits now under intigation are won it will probably pay 10 per cent. more. The Horticultural Society have decided to hold another exhibit next fall. Mrs. M. W. Thaxton, wife of the late N. G. Thaxton, died at the home of her sister-in-law, Mrs. P. L. Huddleston, in this city, last Saturday morning, aged about thirty-six years. Mrs. Thaxton had been a sufferer for several months, and stopped at Mrs, Huddleston's last week on her way home to Horeb from Coyner's Springs, where she had gone hoping for benefit, but was disappointed. She was buried Sunday morning in the Thaxton graveyard from Flint Hill Baptist church, of which she had been a consistent member since her youth, Rev. J. A. Barnhardt conducting the services. The Strawberry Association of the Baptist churches to be held at Peck's church, August 3d, 4th and 5th, embraces the churches of Bedford county and some in Campbell and Franklin, including Lynchburg-forty-six in all. Each sends three delegates, besides the pastor, as ex-officio member. The association is not a governmental body, but more of an advisory meeting to receive reports of progress of the churches and suggest measures of further growth and advancement. Dr. Fisher has been annually elected moderator for the last fifteen years, but he has recently moved to Norfolk, and a new man will be appointed. Rev. F. P. Robertson, of Cabell-Street Baptist church, Lynchburg, will preach the opening sermon Tuesday morning, August 3d. The Lynchburg Methodist District Conference meets at Yellow Branch, Campbell county, and teachers' examina-

19. September 11, 1897 The Roanoke Times Roanoke, VA

Article from The Roanoke Times, September 11, 1897

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FIRST NATIONAL BANK. The remaining assets of the First National Bank were sold at auction Saturday. These consisted of claims the receiver considered too worthless to sue for. Items ranging in amounts from $100 to $16,000 brought sums ranging from 1 cent to $15, the latter being paid for the open account of Liberty Savings Bank of $16,610. The furniture also sold very low, a time lock safe which cost $450 going for $120. The office will be kept open till October 1. to finally wind up its affairs. --Bedford Bulletin.

20. September 15, 1897 The Times Richmond, VA

Article from The Times, September 15, 1897

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REMARKABLE COINCIDENCE. Judge Paul to Try the Bedford City Bank Cases. LINCHBURG, VA.. Sept. 14. -Special. A remarkable coincidence occurred here to-day. Captain J. C. Featherstone, of Campbell and Major R. R. Henry, of Tazewell, comrades in arms during the war, were reviewing in the lobby of Hotel Carroll, the battle of the Crater. When they reached the point where the terrible charge was made, a gentleman entered the room. It was Mr. Cralle, of Michigan, a Union soldier, who is stopping in the city, and to the surprise of those present, a warm greeting was exchanged between him and Captain Featherstone. It turned out that Captain Featherstone had made a prisoner of Mr. Cralle at the battle of the Crater and what is yet more curious, Mr. Cralle's entrance into the room was just about at the point in the narrative, when the Captain might have told of his capture. In the United States Court here to-day Judge Paul set the 18th of November, as a special term for the trial of T. D. Berry and Charles L. Moshy, charged with irregularities in connection with the First National Bank of Bedford City, which failed some time ago. Messrs. William Beasley, and F. S. Kirk-patrick have just returned from New York where they represented respectively the plaintiffs and defendants in the suit of Schultz, receiver of the Franklin Brass Company, of Buchanan vs. the Aetna and Home Insurance Company in the taking of depositions. The amount involved is $22,000 which is claimed for the property destroyed by fire. The case will probably be tried at this term of the United States Court.

21. December 4, 1898 The Times Richmond, VA

Article from The Times, December 4, 1898

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or ters in this city. The affairs of the First National Bank of Bedford City, being nearly wound up, receiver, Hon. John Goode, will not be disturbed. A call has been issued by Comptroller Dawes for a report of the condtion of national banks on December 1st. Hon. Babe Bailey, the Texas prize beauty, has arrived in Washington and will be on exhibition at the House Monday next. The feature of his arrival was his refusal to talk for publication. Sueh unheard-of performance on the part of the leader is the talk of the town. What can it mean? is on everybody's tongue, but no one can vouchsafe an answer. It is not thought that much time withelapse after the fall of Speaker Reed's gavel Monday night before the spell is broken and he will demonstrate that his tongue still has locomotor atoxia. One of Bailey's supporters claims that Messrs. Swanson, Hay, Epes, Young, Rhea and Otey will certainly be for Ballav in caucus, and that Messrs. Lamb. Rixey and Quarles have not declared themselves. Mr. Jones is one of the original DeArmond men, and will doubtless continue to lead his forces in the contest. By direction of the Secretary of War. Circular No. 42, October 18. 1898, publishing decision relative to commutation of rations for nurses, is amended to read as follows: "Inasmuch as female nurses in general hospitals are, by section 1277, Revised Statutes. entitled to commutation of rations, it is ordered that commutation of rations will hereafter be allowed to all nurses. whether male or female or whether employed in general or other hospitals, when they are granted leaves of absence by the officer in command or in charge of the hospital, the rate to be the same as that of enlisted men on furlough, that is, twenty-five cents per day, "It appearing that the records of the proceedings of general courts-martial are often held for some time after action thereon by the reviewing authority before being forwarded to the office of the Judge Advocate General for file. attention is called to the fact that the records, when complete, should be forwarded to the Judge Advocate General without unnecessary delay." The rural free delivery service has assumed such proportions that an order was issued to-day by First Assistant Postmaster General Heath districting the country. Virginia. North and South Carolina, Delaware and Maryland were brought together in the "Maryland DIvision," with Messrs. M. S. Plummer and F. E. Bach agents. They will investigate all applications for service from these States and make all investigations, necessary in connection with the work in th division.