21622. Virginia Safe Deposit and Trust Corporation (Lovingston, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1911*
Location
Lovingston, Virginia (37.760, -78.871)

Metadata

Model
gpt-5-mini
Short Digest
e9d1f6f0

Response Measures

None

Description

The Lovingston branch of the Virginia Safe Deposit and Trust Corporation was placed in the hands of receivers and described as defunct/insolvent. Articles discuss court proceedings in mid-1911 ordering depositors to return funds withdrawn after receivers were appointed. No bank run is described. OCR variants of Lovingston (Lovingeton, Lovingstone) were corrected to Lovingston.

Events (3)

1. January 1, 1911* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Institution declared insolvent and placed in hands of receivers; described as defunct/insolvent leading to suspension
Newspaper Excerpt
the Virginia Safe Deposit and Trust Corporation, which suspended a few days ago
Source
newspapers
2. June 15, 1911 Receivership
Newspaper Excerpt
entered a decree ordering certain parties in Lovingston, Nelson county, who had withdrawn their deposits from the branch of the Virginia Safe Deposit and Trust Corporation after that institution had passed into the hands of receivers, to refund the same within ten days. ... the defunct Virginia Safe Deposit and Trust Corporation. (Judge Barley, presiding.)
Source
newspapers
3. July 12, 1911 Other
Newspaper Excerpt
a rule issued recently to show cause why certain depositors in the Lovingston branch ... should not be adjudged in contempt for failure to return funds alleged to have been withdrawn after the manager ... knew that the concern had been declared insolvent.
Source
newspapers

Newspaper Articles (11)

Article from The Times Dispatch, January 4, 1911

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WILL MAKE INVESTIGATION AS TO CAUSE OF SUSPENSION [Special to The Times-Dispatch.] Lovingston, Va., January 3.-There is a move on foot here among the prominent citizens who are depositors to the amount of $100,000 with the Virginia Safe Deposit and Trust Corporation, which suspended a few days ago, to employ able counsel. who have already been consulted with reference to the matter, and to Investigate closely the cause of the bank's suspension.


Article from The Richmond Virginian, January 4, 1911

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LOVINGSTON FOLK WILL INVESTIGATE BANK FAILURE LOVINGSTON, VA., Jan. 4.-Interested as depositors to .the extent of $100,000 in the suspended Virginia Safe Deposit and Trust Corporation, prominent citizens of Lovingeton have determined to employ counsel for the purpose of making a searching fr quiry into the causes bringing about the bank's suspension.


Article from The Washington Herald, June 16, 1911

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Alexandria, Va., June 15.-Commencement exercises incident to the close of the eighty-fifth session of 'the Episcopal Theological Seminary took place this morning. The president, Bishop Gibson, and the professors, vested in their academic gowns. and hoods, together with the students and members of the alumni, marched from Prayer Hall to the chapel, where the exercises were held. The following received diplomas: Edward Ryant Dyer, A. B., of Texas; Horace Dwight Martin, of Kentucky; Robert Theodore Phillips, B. A., of Atlanta, Ga.; Clarence Herbert Reese, of Washington; Robert Edward Lee Strider, M. A., of West Virginia; Joseph Edmund Thompson, A. B., of Lexington, Ky., and Haywood Lewis Winter, of Texas. The degree of bachelor of divinity was conferred upon Rev. Karl Morgan Block, A. B., of Washington, chaplain of Woodberry-Forest School, Virginia; Rev. Edmund J. Lee, M. A., of Auking, China; Rev. Thomas K. Nelson, M. A., of St. John's College, Shanghai, China, and Rev. William M. M. Thomas, B. A., of Brazil. The following graduates, having attained the required standard in their studies, were recommended for the degree of bachelor of divinity: Robert T. Phillips, B. A.; Clarence Herbert Reese, Robert E. Lee Strider, M. A., and Haywood Lewis Winter. These gentlemen will receive their degrees after writing an approved thesis and on their ordination to the priesthood. An excellent address was delivered by Rev. H. B. Lee, of Charlottesville, Va. The exercises will be brought to a close at 11 o'clock to-morrow with ordination ceremonies. After hearing argument to-day in the Corporation Court to the exceptions filed to the report of John M. Johnson, special commissioner in the case of T. J. Fannon and others against the defunct Virginia Safe Deposit and Trust Corporation, Judge Barley entered a decree ordering certain parties in Lovingston, Nelson County, Va., who had withdrawn their deposits from the branch of the corporation after that institution had passed into the hands of receivers, to refund the same within ten days. Should they fail to do so, the clerk was directed to issue a rule against them for contempt. Mrs Melissa A. Wood, a well-known resident, died this morning at her home, 617 South Washington street, after a lingering illness. She was seventy-two years old and was the widow of Robert L. Wood and the daughter of the late Capt. Samuel B. Hussey. Two daughters survive. They are Mrs. Ida M. Hill and Mrs. J. Clinton Smoot. The funeral will take place from her late residence at 4 o'clock Saturday afternoon. The Old Dominion Boat Club has appropriated $2,000 for the improvement of its boathouse. The work will be begun within the next thirty days. Dr. E. Gorman had his nose broken this afternoon at Alexandria baseball park by being struck by a foul ball before the game between the Alexandria baseball club and Willard Hotel team, of Washington. Dr. Gorman was assisted to Alexandria Hospital, where his injuries were dressed. Sadie Ross, a negro, indicted for forging the name of Dr. George T. Kipstein to a check for $100, entered a plea of guilty in the corporation court this morning and was sentenced to serve a term of two years in the penitentiary.


Article from The Times Dispatch, June 16, 1911

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DECREE ENTERED BY JUDGE BARLEY Action Follows Arguments on Exceptions to Report of Special Commissioner. (Special to The Times-Dispatch.] Alexandria, Va., June 15.-Arguments were heard to-day in the Corporation Court, Judge Barley, presiding, on ex.' ception to the report of John M. Johnson, special commissioner, in the case of T. J. Fannon, and others against the defunct Virginia Safe Deporit and Trust Corporation. A decree was also entered ordering certain parties in Lovingston, Nelson county, who had withdrawn their deposits from the branch of the Virginia Safe Deposit and Trust Corporation after that institution had passed into the hands of receivers, to refund the same within ten days. Should they fall to do so, the clerk was instructed to Issue a rule against them for contempt of court. Among those who made arguments on the exceptions Nled were Harmon & Walsh, Charlottesville, counsel for the Vickers estate: Attorney Elliott, of Charlottesville, for St. Paul's Guild, of that place; Attorney Carusi, of Washington, and G. L. Boothe, this city, counsel for the American National Bank, Washington, and Samuel G. Brent, attorney for S. R. Donahoe. State Auditor.


Article from The Richmond Virginian, June 28, 1911

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# DEPOSITORS MUST # RETURN MONEY THEY WILL BE HELD IN CON- TEMPT OF COURT SHOULD FUNDS BE RETAINED. ALEXANDRIA, VA., June 28.-De- positors in the Lovingston, Va., branch of the Virginia Safe Deposit and Trust Corporation, who were al- lowed to withdraw their deposits af- ter the cashier of that branch, it is alleged, knew that the concern had been placed in the hands of receivers, and who have not returned the money so withdrawn, must appear in the Alexandria Corporation Court on July 10 to show cause why they should not be punished for contempt. A rule against all such depositors was is- sued yesterday by N. S. Greenaway, clerk of the Corporation Court, by direction of Judge Louis C. Barley.


Article from Evening Star, July 12, 1911

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# ALEXANDRIA AFFAIRS Council to Meet in Extra Session Tuesday Evening. # UNFINISHED BUSINESS UP Business Transacted Last Night. Civil War Battle Flag Returned From New York. Special Correspondence of The Star. ALEXANDRIA, Va., July 12, 1911. It was nearing 12 o'clock last night when the city council adjourned its business session and all of the business on the table had not been taken under consideration at that. As a result another meeting of both branches of council will be held Tuesday night next for the purpose of considering the unfinished business, after which the annual adjournment for the summer will be taken. The meeting last night, it is conceded, was characterized by a large amount of talk and the transaction of a small volume of business. The discussion was precipitated on the ordinance for the improvement of Washington street from King street to Cameron street with vitrified brick. The street committee recommended that the work be done when the abutting property owners pay into the city treasury one-sixth of the total cost or $1.76 a foot. The legality of narrowing Washington street was questioned by President Snowden, although he declared himself in favor of street improvements, and said he would throw no obstacle in the way of the work, inasmuch as other ordinances similar were to follow. Suggests Reconsideration. Councilman J. Y. Williams wanted the matter recommitted to inquire into the legality of narrowing the street. Councilman A. D. Brockett was of the opinion that the work would never be done, because he thought that some of the property owners would not pay their share of the cost. Williams and Brockett, both of whom have heretofore advocated street improvements, voted against each ordinance as presented. They were the only ones voting in the negative, and the vote each time was 11 to 2, and all of the ordinances similar to the one quoted were passed before the meeting adjourned. The ordinances passed provide for similar improvements on many streets. Before adjourning a joint session of both boards was held, at which time Capt. Albert Bryan was re-elected a member of the board of police commissioners from the fourth ward, having no opposition. Robert Gronau was re-elected chief of the fire department, Joshua Sherwood was re-elected keeper of the city almshouse and William L. Craven janitor of city hall. The election of members of the board of fire wardens and a health officer was deferred until the next meeting of the council Tuesday night. # Extension of Gas Mains. An ordinance authorizing the mayor to enter into a contract with the Rosemont Development Company for the extension of the city gas mains to that subdivision was passed with one clause stricken out. The sum of $450 was appropriated for the construction of a terra cotta sewer on Alfred street between Wilkes and Gibbon streets. The sum of $1,000 was appropriated for the construction of a sewer on Royal street between Cameron and Princess streets when the abutting property owners pay into the city treasury the sum of $300 in part payment for the work. A resolution, offered by Councilman Spinks, that members be permitted to remove their coats during sessions, owing to the hot weather, was passed. A resolution of Councilman Marshall for the purchase of an adding machine for the use of the officers in city hall was referred to a committee. The light committee was authorized to purchase a droplight for the desk of the clerk of council. # Refund Decree Argued. Arguments were begun at 2 o'clock this afternoon in the corporation court before Judge Barley on the decree recently entered by that court directing certain parties in the Lovingstone branch of the defunct Virginia Safe Deposit and Trust Corporation to turn over to the receivers of the defunct concern the sum of $2,193.33, this being the amount on deposit to the credit of Mrs. F. H. Kidd, which, it is, claimed, was withdrawn from the bank after the receivers had been appointed. Attorney J. T. Coleman of Lynchburg, Va., represents E. L. Kidd and his wife, Mrs. F. H. Kidd, while Attorney A. R. Long represents R. Lee Camden, manager of the Lovingstone branch of the defunct concern, who, it is alleged, paid over to Mr. Kidd for the latter's wife the foregoing amount following the appointment of receivers. Attorney Coleman declares that they propose to fight the matter to a finish. The receivers are represented by Commonwealth Attorney Samuel G. Brent. Battle Flag Returned


Article from Alexandria Gazette, July 13, 1911

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DECISION NOT REACHED LOVINGSTON CASE. IN Argument was Continued Until Seven O'clock Last Night---Decision in Miller cases Today. The arguments in the case of the depositors of the Lovingston branch of the Virginia Safe Deposit and Trust were afternood were terday Corporation which commenced continued until yes seven o'clock last night and many interesting features were brought out by Attorney Coleman in bis efforts to prove that the Corporation Court had no right to put the trust company in the hands of receivers upon the sole petition of the directors. At the conclusion of the arguments Judge Barley announced that be would prepare his decision which world be rendered within the next two or three days. In the same court this morning the exceptions to the report of Special Commissioner Johnson by H. H. Miller, Agent, were argued by Attorney Gibson. This case grew out of a deposit of $629 which H. H. Miller, Agent, made in the Remington branch of the trust company shortly before its failure. His attorney claimed that it was not a deposit but a collection and therefore it was a preferred claim which Commissioner Johnson refused to allow. Judge Barley overruled the excep. tion and sustained the commissioner's report. At the same time arguments were made in reference to the exceptions by the receivers to the report of Commissioner Johnson in allowing H. H. Miller to offset a note he had in the bank with a deposit made by H. H. Miller, agent. The receiver's position was that H. H. Miller was only entitled to one-sixth of the amount deposited in the name of H. H. Miller, agent, and therefore could only offset one-sixth of his note. The court sustained the re. ceiver's exception In the case of D. J. Howell to have an attachment, which had been made against him by the Alexandria Electric Company, nullified the court ruled in favor of the Electric Company.


Article from The Times Dispatch, July 13, 1911

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# ARGUMENT IN CASE FROM LOVINGSTON [Special to The Times-Dispatch.] Alexandria, Va., July 12.—Arguments were heard before Judge Barley in the Corporation Court this afternoon in the case of T. J. Fannon and others, on a rule issued against E. L. Kidd and others, of Lovingston, Nelson county, to show cause why they should not be fined for contempt for failure to return $2,193.33, alleged to have been drawn from the Lovingston branch of the Virginia Safe Deposit and Trust Corporation, located in Nelson county, after that institution, it is alleged, was placed in the hands of receivers. It is alleged that the foregoing amount of money was on deposit in the Lovingston branch in the name of Mrs. F. H. Kidd, and was withdrawn after receivers had been appointed, by her husband, E. L. Kidd, and same, it is alleged, was turned over to him by R. Lee Camden, manager of that branch of the bank. R. T. Coleman, of Lynchburg, represented Mr. Kidd, and A. L. Long, of Nelson county, represented R. Lee Camden, while the State was represented by Commonwealth's Attorney Brent, and Judge J. K. M. Norton, one of the receivers, represented the receivers. Arguments in the case were completed at 7 o'clock to-night, and the court took the matter under consideration. William A. Smoot, commander, and Edgar Warfield, adjutant of Lee Camp, Confederate Veterans, returned to this city at 1 o'clock this morning from Albany, N. Y., with the battleflag of the Seventeenth Virginia Regiment, which was lost at Sharpsburg, Md., September 17, 1862, which has since been in the New York State Museum, at Albany. In the early fall a reception will be given by R. E. Lee Camp, Confederate Veterans, in honor of the return of the flag.


Article from The Free Lance, July 15, 1911

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ACT OF COURT QUESTIONED Arguments were begun in the Alexandria Corporation court Wednesday afternoon on a rule issued recently to show cause why certain depositors in the Lovingston branch of the Virginia Safe Deposit and Trust Corporation should not be adjudged in contempt for failure to return funds alleged to have been withdrawn after the manager of the branch bank knew that the concern had been declared insolvent. Judge Barley was confronted with the contention by counsel that he had acted without authority in placing the trust corporation in the hands of receivers. It is contended that R. Lee Camden, the manager of the Lovingston branch, allowed E. L. Kidd to withdraw the deposit of his wife, Mrs. F. H. Kidd, amounting to $2,193.33. Attorney J. J. Coleman, of Lynchburg, appeared for Kidd and his wife; Attorney A. R. Long, of Nelson county, for Camden; Commonwealth's Attorney S. G. Brent for the State, and former Judge'J. K. M. Norton for the receivers. Mr. Coleman, in an argument lasting several hours, declared that a court of equity could not wind up the affairs of a corporation unless one-fourth of the stockholders asked for its dissolution. In the case of the Virginia Safe Deposit and Trust Corporation. he said, receivers had been appointed by Judge Barley at the instance of the directors, who held only one-sixteenth of the stock. Judge Barley took the matter under consideration.


Article from The Washington Times, March 21, 1912

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In the State court of appeals today the case of the Virginia Safe Deposit and Trust Corporation against E. L. Kidd and others is being heard, based on a contempt charge of the local corporation court. It is alleged that Kidd, who was a depositor in the Lovingston branch of the banking institution, learning that the concern had been placed in the hands of receivers, withdrew his deposit before the doors of the Lovingston branch had been closed. Judge Barley, of the corporation court, decided that Kidd must return the money, about $2,000, and, failing to do SO, adjudged him in contempt. It was decided to leave the matter to the 811preme court of appeals. Miss Ruth V. Henderson and William N. Harper were married by the Rev. W. F. Watson. at the home of the bride's sister. Mrs. Robert M. Graham, yesterday afternoon. Upon their return from a Northern trip, they will live here. The board of aldermen, in special session yesterday afternoon, referred the resolution recently introduced in the lower body, providing for the appropriation of $15,000, to be used in defraving current expenses. to the committee on finance.


Article from The Washington Herald, March 21, 1912

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NEWSOFALEXANDRIA Chief Goods, and Police Commissioner Have Tilt During Meeting of the Board. Alexandria, Va., March 20.-During the progress of an investigation of a ledger used at police headquarters by Police Commissioner T. A. Fisher at a meeting of the board of police commissioners tonight, Chief of Police C. T. Goods took exception to the wide latitude given the examination relative to officers who made certain arrests, and asse ted that If the police go around and tell everything that goes on he would be unable to run the force. This matter has been going on in the ranks of the force for the past sixteen years, he declared. Commissioner Fisher then declared that if he was not satisfactory as a commissioner they would have to get some one else in his place. Mr. Fisher ended what threatened to be a heated debate by declaring that there was nothing personal in the matter, but he simply wanted to know the facts. Chief Goods asserted that they had been friends all along, whereupon the argument ended. This little colloquy came up after Mr. Fisher had called for the books, which were brought before the commissioners by Chief Goods. Mr. Fisher delved into certain arrest made last Monday, In a which three officers' names figured, and he wanted to know if all were connected with the case. Chief Goods attested the correctness of the reports in the books regarding the same. A resolution of Commissioner Barrett requesting the city council to authorize the appointment of three sergeants of the police force. now that the necessary change to the city charter has been made the State legislature. The resclution by provides that the salary of the first sergeant shall be $70 a month and the second and third $65 a month each. There was a discussion among the members of the board relative to how the sergeants should be worked. It was the idea of Chief Goods, as well as most of the members of the force, that each sergeant would be in charge of a squad of five men, and also do patrol duty in addition. The attention of the board was directed by Commissioner Barrett to the fact that the present change in the city charter made by the State legislature abolishes the office of lieutenant of police, and it would be well to take this matter up at once with the city council, his idea being to have Lieut. Bettis' title changed to that of sergeant. According to Acting Mayor Marbury, there was an understanding among the aldermen at the time of the proposed change that It would not interfere with Lieut. Bettis. Upon motion of Commisioner Barrett the secretary was instructed to prepare a uniform physician's sick certificate, which members of the police department will have signed by their attending physiclan when they are ill, and have same presented to the commissioners. According to the monthly report of I Chief Goods, 109 persons were taken in custody since his last report. He also PR. called the attention of the board to the fact that shortly there will be a change in uniforms, and he desired to know I whether the men will wear caps or helmets. The report was received. I Arguments will be heard to-morrow I before the State Court of Appeals in the case of the Virginia Safe Deposit and ( Trust Corporation against E. L. Kidd and others. The suit involves $2,000 which it is 1 I alleged Kidd withdrew from the Lovingston branch of the Virginia Safe DeI posit and Trust Corporation, following the collapse of that institution. 1 Several months ago the case came I up in the Corporation Court here, and $ Judge L. C. Barley held that Kidd was in contempt of court in the proceedings instituted, and ordered him to repay the money withdrawn to the receivers. y Kidd's attorneys appealed. Judge J. K. p M. Norton, one of the receivers, and h Attorney S. G. Brent left here to-day il for Richmond for the purpose or arguIng the case. ti t At a special meeting of the board of aldermen this afternoon the recommendation of the finance committee that council borrow $15,000 to temporarily re meet the present deficit was passed. fi The matter will be passed by the comG mon council at a meeting which will be in held next Tuesday night. These officers have been elected by the Retail Merchants' Association to serve for the ensuing year: Leopold Ruben, president: Harry Hammond, vice president; Courtney Acton, W. c.