21508. Liberty Savings Bank (Bedford, VA)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: April 16, 1896
Location: Bedford, Virginia (37.334, -79.523)

Metadata

Model: gpt-5-mini
Short Digest: fe18dabe

Response Measures

Capital injected, Full suspension, Books examined

Other: Bank made deed conveying all property to cashier as trustee to secure depositors; indictments and criminal prosecution followed; receiver appointed.

Description

A gradual run beginning January culminated in suspension of Liberty Savings Bank on April 16, 1896. The bank made an assignment/ deed to a trustee to secure depositors and a receiver was later appointed (receiver qualified June 13, 1896). Grand-jury indictments for embezzlement followed; receivership/assignment indicates permanent failure/closure rather than simple temporary suspension.

Events (4)

1. April 16, 1896 Run

Cause: Local Shock
Cause Details: A steady, months-long withdrawal of deposits driven by local loss of confidence (tension between town and county and local sentiment against bank management) resulted in a gradual run culminating in April.
Measures: Made an assignment/deed of property to trustee to secure depositors; attempted to realize on assets; later an application for receiver was made.
Newspaper Excerpt: Since January 1st there has been a continuous run on the First National. ... The First National Bank here suspended payment this morning, and a short time after the Liberty Savings Bank also closed its doors.
Source: newspapers

2. April 16, 1896 Suspension

Cause: Local Shock
Cause Details: Immediate cause was inability to meet withdrawals from the ongoing run; officers closed doors and suspended payment when withdrawals could not be met in the morning rush. The Liberty Savings followed the First National's suspension and closed its doors same day. Liberty Savings also executed a deed assigning assets to a trustee to secure depositors' claims, indicating insolvency concerns as well as the run pressure.
Newspaper Excerpt: The First National Bank ... suspended payment this morning at 10 o'clock, and a short time after the Liberty Savings Bank also closed its doors.
Source: newspapers

3. April 17, 1896 Other

Newspaper Excerpt: The Liberty Savings Bank made a deed to its president, Mr. R. B. Claytor, conveying all of its property, real and personal, to Mr. J. W. Smith, the cashier, as trustee, to secure, first, all depositors of money ... first to be paid in full before the second.
Source: newspapers

4. June 13, 1896 Receivership

Newspaper Excerpt: Mr. Samuel Griffin qualified before the court on Wednesday as receiver for the Liberty Savings Bank, and has entered upon the duties of winding up its affairs.
Source: newspapers

Newspaper Articles (15)

1. 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.

2. 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.

3. April 17, 1896 The Roanoke Daily Times Roanoke, VA

Article from The Roanoke Daily Times, April 17, 1896

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Bank Failures at Bedford City. The First National Bank, of Bedford City, and the Liberty Savings Bank both closed their doors yesterday morning. The cause assigned for the failure is a constant but gradual run on the banks that has prevailed for several months. It is believed that the First National will pay its creditors and depositors in full, but the savings bank is believed to be in a much more uncertain condition. The failure has been expected for some time and it has caused no great excitement in Bedford. The First National Bank has & capital stock of $50,000 and T. D. Berry, & prominent Bedford tobscconist, is the president. R. B. Claytor is president of the Savings Bank. There were no large depositors and it is believed that the people will not suffer very seriously as the result of the failure. A TIMES reporter made inquiry at the banks in this city and learned that none of them will lose anything by these failures.

4. April 18, 1896 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, April 18, 1896

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BEDFORD CITY'S HARD LUCK. The Failure of the Two Banks and the Cause. BEDFORD CITY, April 17.-(Special.)Never before in the history of the town has It been true that there has not been a bank In operation. This morning there is a hush as of Sunday about the streets, as men stand in groups and discuss the all-absorbing topic of the suspension of the two banks on yesterday. Arising from the question of the high school, the relations between the town and county have been greatly strained of late, until the situation culminated in loss by the county of confidence in the banking institutions of the town. On January last a steady withdrawal of deposits in the National Bank began, tially increasing. and often amounting to more than $5,000 a day. To meet this the president of the First National Bank, Mr. T. D. Berry, made such arrangements as seemed adequate to meet the increasing demands, and hoped to be able to stem the tide, and that all would soon be easy again. But on yesterday morning, on the opening of this bank, there was such. a rush that the cashier, Mr. C. L. Mosby, knowing that it would be impossible to meet all of the withdrawals of money, deemed it advisable to suspend, and, closed the doors at 10 o'clock. The Liberty Savings Bank did likewise as soon as the First National had taken this action. MADE A DEED. The Liberty Savings Bank made a deed to its president, Mr. R. B. Claytor, conveying all of its property, real and personal, to Mr. J. W. Smith, the cashier. as trustee, to secure, first, all depositors of money, whether on certificate, subject to check, or otherwise, or money collected which had not been remitted: second, all liabilities of the bank not included in the first class, the first to be paid in full before the second. It can be truthfully said that not a scintilla of reproach attaches to the officers of either bank. The pressure of circumstances conspired to cause suspension. Depositors who have funds in these institutions are confident that after some necessary delay they will receive the full amounts of their deposits. Mr. Berry, the president of the First National, who organized the bank, and in which he has taken the greatest personal pride and interest, in his efforts to sustain the run on the bank, has not spared his personal property, and will lose heavily. The whole amount withdrawn from the First National is $52,000. The capital stock was $50,000, and its surplus and profits amounted to $23,000. The individual deposits amounted to $78,000, and the bank owed $55,000 borrowed money.

5. 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.

6. 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.

7. May 14, 1896 The Times Richmond, VA

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BEDFORD BROKEN BANKS CASHIER SMI INDICTED FOR EM BEZZLEMENT AND LARCENY, Director Berry Indicted for Aiding Abetting the Officer and Others for False Certification. BEDFORD CITY, VA., May 13.-Spe. cial.-The grand jury, which has been in session for several days investigating the condition of the Liberty Savings Bank, which suspended payment, and closed its doors on the 16th of April, completed its labors this afternoon. Indictments were found against J. W. Smith, the cashier, on eight different charges of embezzlement and larceny. A like number of indictments were found against T. D. Berry, one of the directors, for aiding and abetting J. W. Smith to commit said embezzlements. Indictments were also found against H. C. Lowry, R. B. Claytor, and E. = Stone, directors, for certifying to a state. ment of the condition of the said bank published in December last, which the jury declare was false.

8. May 31, 1896 The Times Richmond, VA

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BEDFORD'S HIGH SCHOOL CONTEST Graham Clayter and Col. J. Hampton Hoge Scrap in Court. BEDFORD CITY, VA., May 29.-Special.-The much-mooted high-school question, which has been a bone of contention in Bedford county for the past two years, was permanently settled yesterday, and now Bedford City has no high school. The last Legislature repealed. the act establishing a high school for Bedford county, and passed a companion bill, allowing this, the Central district, to decide by ballot whether such a school should be established in this district. The election was held yesterday, resulting in 487 votes against and 159 for said school-more than three to one opposing. Nearly every one admits that the school was a good thing, but the voters did not approve the methods employed to have the school established, a large majorit of them thinking that it was only a scheme to unload the Jeter Institute building on the county. This, however, had nothing to do with the school for Central district. The building was purchased by the School Board more than a year ago, and the question as to the title of the property is now in litigation, and will come up in the the Circuit Court for consideration next Tuesday. If the title should be declared valid, the county will own an excellent school building, but will have no school. Joshua W. Thomas, one of Bedford's best and most prominent business men, died at his home in this place Thursday morning, aged seventy-three years. Mr. Thomas was a native of Bedford and had conducted a successful business in the town for the past nineteen years. A very interesting slander suit has been in progress in the Circuit Court since Monday. M. R. Wigginton, of the Bore Augur neighborhood, brought suit against Patrick Simmons, his neighbor, for charging him with theft. The plaintiff was represented by Graham Claytor and Nelson Sale, while the defendants were represented by P. H. Dollard, of Franklin, and J. Hampton Hoge, of Roanoke. During the argument in the afternoon yesterday, Mr. Claytor made an attack on Mr. Hoge's personal character, referring to him as a renegade Democrat, the Amoy, China, episode, and other reflections, which were anything but complimentary. Mr. Hoge arose and said that no gentleman would drag personalities into the court; a personal encounter ensued, and for a time it looked as if Bedford was going to have a/Cuban war in addition to other unfavorable conditions. The belligerents were finally separated before either was seriously injured. The Judge fined them $20 each for the amusement. Judge Crute, of Farmville, is still with his son, who is sick at the Academy. The young man is somewhat improved, and hopes are entertained for his early recovery. A. bill has been filed in the Circuit Court by Judge Diggs, of Lynchburg, for the Bank of the Republic, of New York plaintiff. against the Liberty Savings Bank and J. W. Smith, cashier, defendants, requiring said defendants to show cause, if any, why a receiver should not be appointed to take charge of the property of said bank. It is understood that Allen W. Talley, of Lynchburg, will receive the appointment. William M. Ramsey, from near Horeb, whose mind has been unbalanced for several weeks, was sent to the asyulm at Marion last week.

9. June 14, 1896 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, June 14, 1896

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BATTLE FLAG'S STORY The Colors of the Twenty-Eighth Virginia Regiment. HISTORY. INTERESTING AN ColoneLPreston's Quaint Commands. Bedford City Local News-Closing Exercises-Social Events-Personal and General Notes. BEDFORD CITY, VA., June 13.-(Speclal.)-Quite an interesting history of the old battle-flag of the gallant Twentyeighth Virginia Regiment of Infantry has just come out in a most unexpected way. A. lady here received a postal-card from an old school friend, of whom she had seen or heard nothing for perhaps forty years or more, inquiring if she still resided here, etc., to which a suitable response was made, which elicited a long letter containing, among other things, the history and location of the flag mentioned above. The writer stated that, although her family were natives of New York, her sympathies were with the South, and that she had lost a brother in the southern army during the war. A relative of her husband's had captured at the battle of Gettysburg the colorbearer, with his banner, which is claimed to have been made of a blue-silk gown of some patriotic southern woman, whose name is not mentioned. This banner of the Twenty-eighth Regiment is now treasured as a trophy and relic of the war of the Confederacy, in the Capitol, at St. Paul, Minn., the home of the author of the letter, telling its history. She also states that she retains a photograph of the standard-bearer, who was captured, firmly grasping the staff of his colors. The name of this famous old regiment brings a thrill of reminiscences to every veteran of this county, which contributed several companies to its ranks. Bowyer's Battery was one that went from the town, and was composed of some of her best sons. HIS PEOPLE. The regiment was commanded by Colonel Robert L. Preston, of Montgomery, who was accustomed to speak of and address his soldiers as "my people," and many amusing anecdotes are still extant of his quaint sayings and original commands. No command won more laurels for bravery during the war than this, or left more empty names on the rollcall. A number of the survivors of the Twenty-eighth of Bedford are now making plans to be present at Richmond at the grand reunion. The interest is growing as the time draws nearer. The last of the school commencements took place this morning-that of the High School, which. indeed, celebrates its final. The exercises were simple and interesting, consisting of an address by Rev. J. T. Whitley, of the Methodist church, and the delivery of distinctions The standard is high, and the number of honors won by many of the 113 students gave evidence of the fine work that had been done. A prize for penmanship was awarded to W. P. Rucker, and one for spelling to Miss Ethel Compton. Eighteen pupils made an average of 30 per cent. on all examinations. A very creditable valedictory was read by Miss Louise Buck, of this town. After an exceptionally bright career the curtain falls upon the school, and it becomes a thing of the past, going down with its honorable record in a storm of opposition from many of those who have reaped its advantages. Mr. Samuel Griffin qualified before the court on Wednesday as receiver for the Liberty Savings Bank, and has entered upon the duties of winding up its affairs. Mr. Griffin occupies a high position socially and professionally, and will doubtless prove entirely satisfactory to all concerned. A MARRIAGE On Wednesday evening, at the home of Mrs. Bettle Moore, a short distance from town. the marriage of her daughter, Miss Mattie, to Mr. J. D. Robertson, was Mr. solemnized by Rev. J. P. Luck. Robertson is a merchant of the town. During a storm Tuesday afternoon four cows that had taken refuge beneath a tree were struck by a flash of lightning and killed. They were the property of Mr. Thomas Hannabas. Rev. R. B. Eggleston, of the Presbyterian church, is taking a rest, on account of indisposition, at the home of Mrs. Wills, of Louisa county. Miss Bessie Krider, teacher of music at Belmont Seminary, became very ill at the close of the session, and has remained in a very critical condition ever since until to-day, when her physician pronounces her somewhat better. Her mother, of Salisbury, N. C., was summoned, and is still with her. With the close of the schools the town is very quiet, as the summer boarders have not yet begun to seek the mountain zephyrs. There will be a celebration by the Sunday school of the Methodist church to-morrow evening of Children's-Day. The church will be handsomely decorated with plants and garlands, among which the pure white lily will be most conspicuous, since in the programme of the exercises the cantata, "Consider the Lilies," will be the principal feature. Children'sDay service will also be observed by the Presbyterian Sunday school to-morrow. The work of children, especially in the cause of missions, is now becoming a most prominent factor in all of the

10. August 9, 1896 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, August 9, 1896

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IN BEDFORD CITY. THE TRIAL OF THE CELEBRATED BANK CASES. SOME DETAILS OF THE TESTIMONY. The Retrenchment Move-The Com- ing Tournament and Ball-Many Visitors-Trips to the Peaks-Per- sonal and General Notes. BEDFORD CITY, August 8.-(Special.)- The topic of deepest interest throughout the town and county, which is being discussed everywhere from the various points of view, is the trial of the bank cases. Despite the intense heat each day the court room is densely packed soon after the opening of court, and continues so throughout the entire session. It becomes almost impossible to effect an entrance at the door or budge one's way through the compact mass of men standing within the portals. The charge against Mr. J. W. Smith, the cashier of the Liberty Savings Bank, of making a false statement of the condition of the bank to the Auditor of Public. Accounts in December last has pecupled the time of the court during this week. The examination of witnesses for the Commonwealth began Monday and was continued until Thursday. The first witness was M. J. Nash, of Richmond, a clerk in the Auditor's office, who testified as to the report bring sent in by Mr. Smith. The next was Mr. R. B. Claytor, president of the bank, in which capacity, and as director, he had been connected with the bank for the past twelve years. He testified to his faith in the solvency of the bank until the day before it suspended, and to his belief that the books kept by Mr. Smith were strictly correct. When questioned in regard to a debt of $31,000 owed the bank prior to the time Mr. Smith became cashier, he testified that he was told it referred to a debt made by Mr. S. M. Bolling, the principal of which was about $26,000, the interest accruing bringing it up to $31,000, which was discovered the latter part of 1891 or first of 1892. He states that the books did not show that Bolling, Wright, & Co. owed anything like that amount, but Mr. T. D. Berry, who was director of the bank, being appointed administrator of the estate of C. D. Wright, upon examining the books of the firm found this large sum was owing the bank, whose books showed a very small balance to the debit of the firm. Being further interrogated, Mr. Claytor stated that the transaction was covered by a false balance, which was discovered by Mr. Smith in making off a trial balance. As to the reorganization of the bank in 1890, he stated that after finding out these large over-checks Mr. C. W. Wharton, the former cashier, had allowed to go on, we found and believed that the bank was not solvent, and resolved to make it so. "The directors subscribed to the capital stock $10,000, and this, with the Wharton estate, $9,000, which we thought made the bank absolutely safe." In 1894, upon a second investigation, the shortage was found to be more than at first supposed, when Mr. Martin P. Burks put in $10,000 in cash, except about $500, for which he gave his note, which has since been paid, and Mr. T. D. Berry gave a note for $12,500 in stock, which was considered perfectly good. Mn. Claytor's examination occupied considerable time. He gave many details in regard to the affairs of the bank. MR. DOYLE. After the examination of several other witnesses, A. M. Doyle, who had been employed by the Board of Supervisors to examine the books of the bank, was put on the stand, and his examination, as an expert occupied two days. So full of figures was it that a brief summary would be impossible. The examination of witnesses for the defence was begun Thursday by introducing Mn T. D. Berry, who was on the stand all of the day, and again Friday morning. The array of talent of counsel, both for the Commonweaith, in the person of A. H. Burrough, of Lynchburg, and for the defence, represented by Judges W. H. Mann, J. D. Horsley, Messrs. Caskie & Coleman, and B. H. Berry, and the high social standing of the accused, render the cases unique The intense feeling as to the results is also a factor of interest. RETRENCHMENT. The Town Council at a recent meeting passed resolutions in regard to retrenchment and reform in the management of affairs municipal. Ten electric lights will be dispensed with, and street expenses shall not exceed $900 per annum. Mr. Garrett, the Sergeant, who has held the position for Fourteen years, was re-elected, as was Mr. H. V. Jordan, who has been policeman for the day seven years. All officers at former salaries. As the result of the bank fallures a great amount of exceedingly valuable property, both in the country and town, will be put on the market during this and the coming month. The charming homestead of the late Rev. J. A. Wharton is among the property to be sold this month. The summer boarders are coming in very fast during these heated days, and everywhere one sees unfamiliar faces. Hotel Bedford is very gay, and is making extensive preparations for the excursion party expected from Richmond the 15th Instant. The knights are daily practicing for the tournament. The ball to succeed it will perhaps be the grandest affair of the kind ever seen here. One of the knights met with qulte a serious accident Thursday afternoon while practicing for the mimio sport of days of chivalry. Mr. Hal. Mosby was thrown violently against one of the and quite painfully injured. Friday a protracted meeting was commenced at Otterville, under the auspices of the Methodist Church. Dr. Coke Smith and Rev. Ernest Stevens, Synchburg, Rev. J. S. Whitley, of Bedford City, and other distinguished ministers are taking part in the exercises. Rev. W. S. Royal and Dr. C. A. Board have been attending this week the meeting of the Strawberry Association, at Lynch's, in Campbell county. VISITS TO THE PEAKS. The pilgrimages to the summit of the sharp top, Peak of Otter, are of daily occurrence, and despite the fatigue of the trip, the breathlessness of the climb from the "tying place," and the soreness from the exercise of muscles that are rarely used in ordinary locomotion, the tourists are amply répaid for it all by the uncomparable panorama that is spread out before them, embracing portions of thirty-two counties. Among the parties that have made the trip this week, a very charming one was composed of Misses Irene Ellube and Mary Cobb, of Greensboro', Ala.; Mrs. C. L. Mosby and Miss Minnie Nichols, with Messrs. Allen Cucullu, W. B. Dunn, Preston Parr, Jr., and Ellward Burks. The congregation of St. John's church are greatly rejoiced at the decision of their rector, Rev. T. W. Jones, to remain with them. He has recently had under consideration several calls to other places, among them a very flattering one.

11. November 19, 1896 The Times Richmond, VA

Article from The Times, November 19, 1896

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THE bedford BANK CASE, The Berry Trial Attracting Much Attention, BEDFORD CITY, VA., Nov. 18.-Special.-The Berry. trial still occupies the time of Bedford County Court and the attention of the citizens. The evidence of the Commonwealth is all in, but there is little likelihood of a verdict this week, though night sessions are being held. R. B, Claytor testified as to the connection of T. D. Berry with the bank, stating that he was a director, member of Finance Committee, and that Berry and Smith, the cashier, ran the bank. A, N. Doyle, the chief witness for the prosecution, made an examination of the books and produced on the stand a statement of its exact condition, as shown by the books, on April 14, 1896, two days before It closed. The assets of the bank are shown to have been on April 14, 1896, in round numbers, $180,000. Doyle's evidence was that this amount was made up of old claims amounting to $20,000; paper past due for two years, $45,000; Berry's and Berry Bros.' paper. $91,000, and an expense account of $1,800, aggregating 3166,300, and other paper to the amount of $13,700. W. H. McGhee testified that he did not consider the Berry paper as worth anything. Of the $45,000 overdue paper, ne thought $1,600 was good, depending upon certain collateral, the value of which he didn't know. Taking every evidence of debt which might be realized on from the bank's bills receivable, it amounted, In his judgment, to about $5,000, S. Griffin, receiver of the Liberty Savings Bank, testified that he placed the amount of money that would be gotten from the assets of the bank in his possession at $6,000, The bank's Habilities, as compiled by Doyle, from the books. are composed of the following items: Capital stock. $55,000; general deposit, $9,679; certificate of deposit, $37,062: accommodation notes. $5,000; temporary loans, $34,000; bills payable. $21,500: discount and interest, $501: exchange, $858: City Bank of Richmond, $103; First National Bank of Bedford, $16,546; aggregating in round numbers $180,000. In a criminal proceeding the statute does not allow the capital stock of a bank to be treated as a liability. Deducting. therefore. the $55,500 capital stock of the bank from the $180,000 liabilities, It would leave $124,500. In reference to the solvency of Berry,

12. November 19, 1896 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, November 19, 1896

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BEDFORD CITY BANK CASES. Examination of the Witnesses for the Prosecntion Closed. BEDFORD CITY, November 18.-(Special.)-Last night the examination of witnesses by the Commonwealth in the trial of Mr. T. D. Berry was completed. As before stated, the charge against Mr. Berry is that on April 14th the sum of $40 was received from a negro on deposit in the Liberty Savings Bank, when upon the 16th of the same month the bank suspended payment. Upon the testimony of Mr. R. B. Clayton, the president of the bank, that Mr. Berry, who was only a director of the bank, virtually ran and controlled the business, the indictment was found, and Mr. Clayton has been the principal witness for the prosecution. A week was consumed in the examination of witnesses for the prosecution. The line of argument will be that the bank was insolvent when the deposit was taken. In furtherance of this course, the affairs of the bank and of the firm of Berry Brothers, and of Mr. T. D. Berry individually, have been subjected to the most rigid investigation, every business transaction, whether of the firm or the individual, having been brought out in the testimony. This investigation goes back to the period when Mr. J. W. Smith was chosen to the position of cashier of the bank, a period of several years. The effort of the prosecution is to prove the insolvency of Berry Brothers prior to the failure of the bank. This morning the defence began taking testimony, and will doubtless occupy some days.

13. January 26, 1897 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, January 26, 1897

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Meyer Sycle, Isaac Formerly Sycle & Co., Next Corner First and Broad. A PASTOR RESIGNS. BEDFORD CITY. But Is Asked to Withdraw His The Berry Case-Settlement with the Resignation. Couneil--Postponement. BOWLING GREEN, VA., January 25.BEDFORD CITY, January 25.-(Spe(Special.)-Rev. R. L. Gay, pastor of the cial.)-When, by reason of a steady Baptist church here, tendered his resignaand ever-increasing withdrawal of detion at a business-meeting of the posits, both of the banks of the town church last Saturday. The church, by were forced to suspend last April, there unanimous vote, requested him to withdraw his resignation. Mr. Gay has was great excitement and indignation been pastor of this church about four throughout the town and county, and a feeling that some one had been years and has a warm place in the hearts criminally guilty. A. grand jury was of his people. The members of his church summoned, and on the testimony of the are earnest in their efforts to induce him to withdraw his resignation, and it is president of the Liberty Savings Bank, that Mr. T. D. Berry, a director of the hoped that he will continue in the service which he has been rendering so acbank, had virtually run the bank, a ceptably. large number of indictments were returned against him. Upon this action of the Court, the A Child Fatally Burned. Town Council determined to make an inROANOKE, VA., January 25.-(Spevestigation of its financial affairs, as cial.)-Roy, the 4-year-old son of J. W. Mr. Berry held the position of chairman Beach, of this city, was fatally burned of the Finance Committee of that body. this afternoon while playing with a box The Council appointed a committee to of matches. He was alone in one of settle the account with Mr. Berry. They the rooms of the house, when his moclaimed a balance due the corporation ther, attracted by his cries, ran to him. of $3,340.80. This Mr. Berry disputed, and found his clothing ablaze. She put claiming that he owed nothing, but, on out the fire as soon as she could, but the contrary, had overpaid. In view of the little fellow is so badly burned about the pressure upon his time, and, owing the face and body that the doctors say to the indictments against him in conhe will not live till morning. nection with the bank, he agreed to deposit securities sufficient to meet the claim, with the stipulation in writing Dwelling at Windsor Burned. that when he could prove the error in WINDSOR, VA., January 25.-(Special the report of the committee, whatever Captain W. H. Powell, one of the oldest was found due him should be refunded. residents of this place, had the misfor The new Council, not satisfied with tune to lose by fire this evening his this arrangement, appointed another dwelling-house and much of the concommittee to settle the account, who tents. The fire Is thought to have oc secured the services of Mr. A. M. Doyle curred from sparks falling on the roof as an expert accountant to examine which was largely covered by moss and the books of the Council. Mr. Doyle leaves. The loss is estimated at about reported that instead of $3,340.80 being $600, with no insurance. due by Mr. Berry, the amount of his indebtedness was $9,236.67, which was a A Shake in Buckingham. startling announcement and produced much excitement. NEW STORE, VA., January 25.-(SpeAt a meeting of the Council some cial.)-This morning at sunrise a violent time since, Mr. Doyle's report was subshock was felt at this place. Whether mitted, and Mr. Berry was also present, this was a real earthquake or an enor and pointed out the errors which he mous explosion no one up to this time claimed in the report, demonstrating has been able to say. them from the entries in the books of the two banks, which were produced in CURRY ON EDUCATION. the charge of Messrs. H. G. Burks and J. M. Daniels, to the satisfaction He Speaks Plainly to North Caroliof many of the members, but a final na's Legislature. settlement was postponed, and another committee still, consisting of Messrs. RALEIGH, N. C., January 25.J. T. Davidson, William Eubank, W. (Special.)-Dr. Curry at noon to-day A. Falconer, J. F. Bondurant, T. C. addressed the Legislature by special in Dennis, and the Mayor, J. L. Campbell, vitation on education. Governor Rus was instructed to make the final setsell and other State officers were pre tlement. These gentlemen met on Tuessent. Dr. Curry said it was a calami day evening, and Mr. Berry and Mr. tous mistake of reconstruction to im Doyle both appeared before them. The pose manhood suffrage without an books and the expert's report were conditions. There would always be bal thoroughly examined and discussed, lot-box frauds so long as there wa and the result was a complete vindiignorance. He declared that if legisla cation of Mr. Berry. The report, duly tion did not elevate the blacks the lat signed by the members of the committer would drag themselves down to th tee, was submitted to a called meeting nethermost hell of ignorance. H of the Council Saturday afternoon last, pleaded for longer tests for the commo and was adopted. schools, and ridiculed the sixty-da The report shows that at the time terms. He expressed the positive be of the settlement before the committee lief that no man should be allowed t of the former Counci' Mr. Berry did vote who was not able to read his bal not owe the corporation, but that they lot. He had heard a legislator say to then owed him $178.95. Mr. Doyle, in day: "North Carolina is too poor t his report, had failed to credit him by educate her children." His declaratio items amounting to $13,256.42, including was: "North Carolina is too poor no the securities deposited by Mr. Berry to educate them." He said a great mis with the former Council, as heretofore take had been made two years ago 1 stated, which left him entitled to abolishing supervision of schools. Speak $3,519.75. The basis of settlement agreed ing of the Normal and Industrial School upon was that securities amounting to of Greensboro', he said that its succes $3,770.40 should be returned to Mr. Berry, was unparalleled in the history of edu he paying the difference of $250.65. cational institutions in the Unite The settlement was a perfectly fair States. The colored normal schools b one, honorable alike to both parties, asserted were not really normal school and exonerates Mr. Berry entirely and he gave notice that he would with from a suspicion of unsquare dealing, draw the Peabody fund from them. H which had materially injured him. termed Governor Johnson, of Alabama The trial of the case against him in who is a North Carolinian, "The School connection with the failure of the Governor of the South." By a risin Liberty Savings Bank, set for to-day, vote the Legislature thanked Dr. Curry the first day of the County Court, has and Governor Russell thanked him 1 been postponed until the February term words. of the court. This is the coldest day of the season, It May Be Chicken-Pox. thus far. CREENSPORO' N January 25.

14. May 5, 1897 The Times Richmond, VA

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# THE LIBERTY BANK CASE, Trial of T. D, Berry in Progress at Bedford City. BEDFORD CITY, VA., May 4.-Special. -Court convened in the Berry trial this morning with every one concerned present except Judge Horsley and Geo. Caskie, two of the counsel for defense. H. C. Lowry was the first witness called and gave in evidence to the effect that Thos, D. Berry was 'a member of the Board of Directors of the Liberty Savings Bank, a member of it's Finance Committee and also that Berry had served on the Examining Committee to make statements of the condition of the bank as required by law. J. M. Daniel for Mr. Griffin, receiver of the Liberty Savings Bank produced the bank's books in court, identifying them as the same that were used when the bank was doing business. R. B. Claytor, president, testified that the management of the bank was left entirely by the other directors to T. D. Berry, of the Finance Committee and J. W. Smith, cashier. Mr. Claytor was on the stand until 4 o'clock, when A. M. Doyle was called, who consumed the remainder of the day in giving a statement of the bank's condition as shown by the books on April 14, 1896. Mr. Doyle was employed by the Commonwealth as an expert book-keeper to examine into the affairs of the bank. He also testified that the indebtedness of Berry Brothers, and T. D. Berry as makers and endorsers to the Liberty Savings Bank amounted to over $91.000 all bills receivable being about $139,000.

15. May 12, 1897 The Times Richmond, VA

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THE BEDFORD BANK CASE. T. D. Berry Goes on the Stand and Makes a Strong Defense. BEDFORD CITY, VA., May 11.-Special.-In the Berry trial to-day the morning was taken up by the defence in the introduction of a number of witnesses to prove that the sentiment existing in the county against Berry had caused the run on the bank, and also to show the value of the brands of tobacco which Berry Brothers sold in New England, and the amount of tobacco manufactured by them. In the afternoon T. D. Berry was placed in the stand, and began his testimony by stating that he had been a director of the Liberty Savings Bank since 1888: that he had not been chairman of its Finance Committee for over two years; that no Finance Commitee had been appointed for two years, and that M. P. Burks was chairman of the last appointed. He stated that he had no knowledge of the act under which the indictment was drawn, and that he was in Lynchburg during banking hours of the day the deposit by Jaco. T. Ross was made; said he never knew such a man as Jacob Ross existed until he read the indictment against himself, and did not know of his own knowledge that Ross had ever made a deposit in the Liberty Savings Bank. He testified that he had never signed or attested a statement of the Liberty Savings Bank and had never taken a leading part In the management of its affairs, the management were not under the direction of the Board of Directors-being left to the president and cashier. He stated that when Cashier Wharton was deposed, and J. W. Smith appointed, he promised Smith that the assets of the bank should equal its liabilities, and that in 1895, on being called upon by Smith, he had promised to give the bank $37,500 to make up a shortage of that amount, and from time to time thereafter gave notes to the bank till the total reached that sum. For this amount Berry claims he never received a cent, but gave it to the bank to keep it open. Berry will probabaly be on the stand the remainder of the week.