ba995816Full suspension
Other: Receiver appointed by court (H. H. Chesbro).
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the wind attained the velocity of 43 miles an hour there. Claremont Bank Closed. (Special to the Daily Press). WAVERLY, VA., April 5.-The Bank of Claremont closed Its doors at eleven o'clock this morning upon a bill filed by stockholders owning a large majority of the stock. Judge West this afternoon appointed H. H. Chesbro receiver to take charge of the assets of the bank.
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Claremont Bank Closes. [Special to The Times-Dispatch.] WAVERLY, VA., April 5.-The Bank of Claremont, of Claremont, Va., closed its doors at 11 o'clock this morning upon a bill filed by stockholders ownIng n large majority of the stock. Judge J. F. West, of this place, this afternoon appointed 11, 11. Chesebro, of Claremont, receiver. to take charge of the assets of the bank.
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CLAREMONT BANK CLOSES ITS DOORS Cause of Embarrassment Given Out as Bad Loans on Milling Property. SMALL RUN YESTERDAY This Is Reported as Due to Failure of Waverly Bank to Buy Stock. [Special to The Times-Dispatch.] CLAREMONT. VA., April 5.-The incorporated Bank of Claremont, Va., suspended payment and closed its doors at 11:30 A. M. to-day. The officials of the institution were A. G. Winter, president.: also president of the American Milling Company, of Philadelphia T. A. Stewart, vice-president, and T. S. Ayers, cashier. The cause is given out as bad loans on milling property in this vicinity. The largest stockholder is E. G. Buckner, president of the Dupont Powder Company, Wilmington, Del. The details of the closing cannot be learned in full, owing to the non-appearance at the bank to-day of T. S. Ayers, cashier, who is reported ill at his residence. Deposits Thirty Thousand. Figures obtained from a reliable source place the resources at $50,000, and deposits at $30,000, but the offlcers refuse to make any statement as to assets. P. Flectwood, president of the Bank of Waverly, Va., and other parties, have beton negotiating for some time for a controlling interest in the institution. The deal, however, fell through, and this failure to turn over the stock as contemplated, is said to have called out the insignificant run on the bank this morning, and the subsequent closing of the doors of the institution by the directors. No Idea can be obtained from any of the directors as to what will be the paying basis, but it is thought that they will pay dollar for dollar. H. H. Chesbro, of Claremont, has been asked to accept the receivership, and if he decides to accept he will in all probability be appointed by