21663. Exchange National Bank (Norfolk, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1137
Charter Number
1137
Start Date
April 2, 1885
Location
Norfolk, Virginia (36.847, -76.285)

Metadata

Model
gpt-5-mini
Short Digest
76eb6bd2

Response Measures

None

Receivership Details

Depositor recovery rate
72.0%
Date receivership started
1885-04-09
Date receivership terminated
1894-06-23
OCC cause of failure
Fraud
Share of assets assessed as good
34.9%
Share of assets assessed as doubtful
39.4%
Share of assets assessed as worthless
25.7%

Description

The Exchange National Bank of Norfolk suspended in early April 1885 and was found insolvent; a receiver was appointed and the bank did not resume normal operations. The immediate trigger was the failure/inability of correspondent/large debtor Bain & Bro. to meet large indebtedness to the bank. Dates are taken from contemporary newspaper reports (suspension reported April 4, 1885; receiver appointment reported April 9-10, 1885).

Events (4)

1. May 13, 1865 Chartered
Source
historical_nic
2. April 2, 1885 Suspension
Cause
Correspondent
Cause Details
Suspension caused by inability of Bain & Bro., bankers of Portsmouth, Va., to meet an $800,000 indebtedness to the Exchange National Bank; their failure and shrinkage of securities forced the bank to close. Examiners also found deficient reserve and excessive discounts; comptroller had warned of charter cancellation if not rectified.
Newspaper Excerpt
NORFOLK, Va., April 4.-The Exchange National bank, of this city, closed Thursday.
Source
newspapers
3. April 9, 1885 Receivership
Source
historical_nic
4. April 9, 1885 Receivership
Newspaper Excerpt
THE NORFOLK EXCHANGE BANK FAILURE.The controller of the currency yesterday appointed William H. Peters to be receiver for the Exchange National Bank of Norfolk, and T. F. Garnett, jr., to be attorney for the receiver.
Source
newspapers

Newspaper Articles (24)

Article from The Rock Island Argus, April 4, 1885

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NOT A BAD FAILURE, If the Assets and Liabilities Are Cor. rectly Stated. NORFOLK, Va., April 4.-The Exchange National bank, of this city, closed Thursday. It did the largest business of anys bank in the state. Its March report puts the capital stock at $300,000; surplus funds undivided profits, $278 319: loans and discounts, $2,755,903; deposits, $2,422,621; and total resources, $3,978,674. The cause of suspension was the inability of Bain & Bro., bankers. of Portsmouth, Va., to meet an $800,000 indebtedness to the bank. A bank examiner who was here about March 12 stated that the bank was largely exceeding the legal limits in the line of discounts and was deficient in its reserve fund. The comptroller of the currency wrote to the bank officers, stating that unless this was rectified by April 25 the charter of the bank would be canceled. Efforts were made by Bain & Bro. to reimburse the bank, Lut a shrinkage in their real estate and genoral securities and a threatened run upon them Wednesday and Thursday, forced them to close. Their liabilities are roughly estimated at $1,000,000, and the assets at $1,900,000.


Article from The Indianapolis Journal, April 4, 1885

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Government Funds in a Broken Bank. PETERSURG, Va., April 3.-The United States gveronment had on deposit in the Exchange National Bank of Norfolk, which suspended yes. terday, between $400,000 and $500,000. These funds are it ternal revenue collections made in the Second district of Virginia, of which Captain Asa Rogers, of this city, is collector. Since the last day of March, there has been forwarded by express from the collector's office here, for deposit in the Norfolk bank, about $7,000, which was returned by the express company to-day to collector Rogers, it not having been delivered at the bank. Collector Rogers to-day received a telegram from the Secretary of the Treasury, instructing him to deposit the government funds collected in this district in Richmond hereafter. The funds will be deposited in the First National Bank of that city.


Article from Savannah Morning News, April 8, 1885

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MONETARY MSFORTUNEES. Prohibitionist McDonald a Heavy Loser by the Norfolk Bank Failure. SAN FRANCISCO, April 7.-Dr. R. H. McDonald, President of the Pacific Bank of this city, and who was a Presidential candidate before the Prohibition-Convention last year. is a creditor of the Exchange National Bank of Norfolk for nearly $200,000. He owned 1,000 shares of its capital stock, besides having about $70,000 on deposit in it. His son, when interviewed last night, admitted these facts, adding that should the amount prove a total loss his father could stand it without complaining. Dr. Me Donald is possessed of immense wealth, so the loss does not cause him the slightest embarrassment. ANOTHER NORFOLK CRASH. NORFOLK, VA., April 7,-Wallace & Son, planters, merchants and lumber dealers, of Norfolk county, to-day deeded property amounting to $151,000 to Bain & Bros. The same firm have assigned their interest in the Richmond Cedar Works in favor of Bain Bros. MUST PAY HIS OVEEDRAFT. MONTREAL, April 7.-In 'the suit of the Exchange Bank against Thomas Craig, late President of tye bank, for the amount of his overdrafts, judgment was to-day rendered for $183,000.


Article from Savannah Morning News, April 9, 1885

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$3,000,000 DUE DEPOSITORS. The Bank Failure at Norfolk, Va., an Exceedingly Serious One. WASHINGTON, April 8.-The Comptroller of the Currency is informed by the examiners in charge of the suspended Exchange National Bank of Norfolk, Va., that the bank is insolvent and will have to be placed in the hands of a receiver. The failure of this bank is regarded as a most serious one. The amount due to depositors alone amounts to over $3,000,000. A committee representing the depositors waited on Comptroller Cannon to-day and requested the appointment of a resident of Norfolk as receiver of the bank. Mr. Brown, of the Comptroller's office, who is examining the affairs of the bank; has been summoned to Washington for the purpose of conferring with the Comptroller on the subject of the receivership.


Article from The Waco Daily Examiner, April 9, 1885

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THE NORFOLK BANK INSOLVENT. A Receiver to be Appointed--Some Official Changes. Washington, April 8,-The comptroller of the currency is informed by the examiners in charge of the suspended Exchange National bank of Norfolk, Va., that the bank is insolvent and will have to be placed in the hands of a receiver. The failure of the bank is regarded as most serious, and the amount due depositors alone amounts to $300,000. A committee representing depositors waited on Comptroller Connor to-day, and requested the appointment of some resident of Norfolk as receiver. e It is expected that Chas. H. Overman will be appointed superintendent of construction of a public building at Pensacola, in place of George Garfield, a cousin of the late President Garfield, who 18 to be transferred to a similar position in charge of a public building at Columbus, Ohio, the present superintendent of hich will be retained there as master mechanic.


Article from The Dallas Daily Herald, April 9, 1885

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NATIONAL NEWS NOTES. CORRIGAN BECOMES INFORMER. That Suspended National Bank-New Superintendent of Construction Appointed-George Garfield Transferred, Etc. General Washington News. THAT SUSPENDED BANK. WASHINGTON, April S-The cemp. troller of the currency is informed by the examiners in charge of the sus. pended Exchange National bank, of Norfork. that the bank is insolvent, and will have to be placed in the bands of a receiver. The failure of the bank is regarded as most serious. The amount due depositors alone amounts to $300,000. A committee representing the depositors waited on Comptroller Cannon to-day and requested the ap. pointment of & resident of Norfoit as receiver. OVERMAN O, K. It is expected Charles H. Overman will be appointed superintendent of construction of the public building at Pensacola, in place of George Garfield, a cousin of the late President Garfield, who is to be transferred to a similar position in charge of the public building at Columbus, Ohio, the present superintendent of which will be retained there as master mechanic. A CALL FROM VETERANS. A committee representing the Grand Army of the Republic called on the president to day, and presented an appeal for the retention in the government service of old soldiers. President Cleve+ land expressed himself very strongly in favor of the object of their visit. EXPOSITION DEBTS TO BE SCHEDULED. The acting secretary of the treasury has requested all persons having preferred claims against the Now Orleans exposition, payable from the appropriation made by the sundry civil act of March 3, 1885, to transmit the sameto the secretary of the treasury at the earliest practicable date. The director-general of the exposition has also been requested to furnish a detalled statement of the indebtedness of the exposition. outstanding at the date of the passage of the net.


Article from The Portland Daily Press, April 10, 1885

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LATER. NORFOLK, Va., April 9.-The suspension of the Exchange National Bauk, the largest institution of the kind in the State, and the failure of Bain & Bro., bankers, of Portsmouth, was the greatest financial shock Norfolk has ever received. Business is panicky. The bank officers are disposed to take a gloomy view of the situation, and are straining every nerve to restore quiet and confidence. John B. Whitehead, president of the suspended Exchange National Bank, made a deed of trust today for the benefit of the creditors.


Article from Evening Star, April 10, 1885

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THE NORFOLK EXCHANGE BANK FAILURE.The controller of the currency yesterday appointed William H. Peters to be receiver for the Exchange National Bank of Norfolk, and T. F. Garnett, jr., to be attorney for the receiver. Both appointees are residents of Norfolk.


Article from Alexandria Gazette, April 10, 1885

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VIRGINIA NEWS. Mrs. Charlotte Alexander Straith, widow af Dr. John A. Straith. died in Staunton, Wednesday. Mrs. Straith was a daughter of the late Dr. Wm. F. Alexander, of Jefferson county, and her mother was a sister of Col. John Augustin Washington. There is a scheme on foot in Richmond looking to the establishment of an eclectic magazine after the style of Littell's. only differing in that it will be almost entirely taken up with articles relating to the South and its interests. The chief promoter is an Alexandrian who has been living in Richmond for the past five or six years. Under a charter granted by the Legislature of North Carolina, the Roanoke Navigation and Water Power Company has been organized. Don Cameron, of Penusylvania, is President, and the principal office is to be in Petersburg. The capital stock has been fixed at $500,000, with power to increase it to any amount that the stockholders may determine. A survey of the canal, which has been purchased by the company, will shortly be made, with a view to local sites for factories. The feeling in Norfolk, Portsmouth and the entire section tributary, is one of deep depression. The suspension of the Ex change National Bank, and the failure of Bain & Bro., was the greatest financial shock Norfolk has ever received. Business is panicky. Bank officers are disposed to take a gloomy view of the situation, and are straining every nervo to restore quiet and confidence. Runs are impossible, as the banks are only paying checks of $50 except for imperative business purposes. The Court of Appeals yesterday decided that the State could not be compelled to fund bonds that had been stolen from the treasurer's office, although the same bonds honestly obtained could be funded. The decision of the Court is that the Commissioners of the Sinking Fund properly re. fused to fund the bonds. First-Because the said bonds, with the coupons, having been stolen or unlawfully abstracted from the custody of the State after they had been redeemed and taken in as aforesaid, the State is not liable for them to the petitioners, although they may be as they claim to be, bona fide purchasers for value without notice. Secondly-Because even it the State be 80 liable, she has given no authority to respondents, either by the act aforesaid of Feb. 14th, 1882, or any other act, to fund said bonds and coupons under the circomstances stated.


Article from The Warner Weekly Sun, April 17, 1885

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Exchange National Bank of Norfolk, Va., will be placed in the hands of a receiver. Over $3, 000, 000 are due depositors alone.


Article from Alexandria Gazette, May 13, 1885

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VIRGINIA NEWS. The residence of Philip Eastham, in Rappahannock county, was burned last week. Harrisonburg has voted by a large majority in favor of a water supply system not to exceed $25,000 in cost. Tbe fine barn of Jacob Masemer, of Warren county, was burned last week, with its contents of hay and farming implements. The flags on the capitol at Richmond were placed at half-mast Monday in respect to the memory of the late ex-Governor Gilbert C. Walker. The receipts of cotton at Norfolk for the eight months ending May 1 were 546,127 bales, against 572,130 bales same month previous year. The Abingdon Standard says it has never seen a better prospect for a fruit crop. The peach bloom is very heavy, and the apple crop promises to be very fine. The Exchange National Bank of Norfolk has paid its entire indebtedness to the State due by reason of deposits remaining in the bank at the time of its collapse. An Accomac letter says the recent raius have greatly improved the prospects for a good crop the coming season, and reports from all sections of the peninsula represent the sweet potato beds as being very fine. It is reported that W. W. Flannagan, the present cashier of the People's National Bank of Charlottesville, has been offered and has accepted the position of cashier in a New York city bank at a very liberal salary. The Postmaster General yesterday appointed Charles O. Carpenter postmaster at Gaines's cross Roads, Rappahaunock county, and Miss Ida T. Tardy, at Elba, Pittsylvania county. He also commissioned William G. Moore, at Garfield, Fairfax county. and Thomas F. Herndon, at Pleasant Gap. Mrs. Alice Burns, who claims to be a daughter of a wealthy Virginia planter, is now a prisoner in the Tombs in New York charged with intoxication and subsequent attempt to bang herself. She declines to give her father's name. She said he disowned her for marryinga circus rider named Burns, who died a year ago leaving her with an infant. Despair brought her to her present condition. W. C. Robinson, proprietor of a jewelry store at Black's and White's Station, on the Norfolk and Western Railroad, left yesterday for Nottoway Court House, leaving his clerk, Hayden, in charge of the store. Shortly after Robinson's departure Hayden, it is charged, packed up about $500 worth of Robinson's jewelry and left town on a west bound passenger train. He was arrested at Appomattox Station with the jewelry in his possession. The preliminary motion of the receiver of the Exchange National Bank of Norfolk before the United States Circuit Court, Chief Justice Waite presiding, to remove the trustees of Bain & Bros.' deed, and appoint a receiver to take charge of that firm's assets, was denied yesterday. The plaintiff's attack was made on the ground of fraud and conspiracy to defraud the Exchange Bank. Immediately upon the decision of the court warrants of arrest were sworn out by B. U. Keyser, U. S. bank examiner, against John B. Whitehead, late president; James G. Bain, vice president; George M. Bain, jr., cashier, and R. T. Bain, director. They were bailed by the United States commissioner in the sum of $10 000 each for their appearance at the July term of the court.


Article from South Branch Intelligencer, May 15, 1885

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A young man blackened his moustacke with a lead comb and then took his girl out for a moonlight stroll. When the fair one appeared in the bright light of the family circle a couple of hours later, her face looked like a railroad map. A Mormon editor at Salt Lake City bad the following in a recent number: The unknown woman who was killed at this place three months ago by the cars, proves to be one of the wives of the editor of this paper.' ARREST OF FOUR BANK OFFICERS.The motion of the receiver of the Exchange National Bank before the United States Circuit Court, at Nor. folk, Va., on the 12th inst., to appoint a receiver to take charge of Bain & Bro.'s assets was denied. The plaintiff's attack was made on the ground of fraul and conspiracy to efraud the Exchange Bank. Warrants of arrest were then sworn ontby Bank Examiner Keyser against John B. Whitehead, late president of the bank; James G Bain. vice-president; Geo M. Bain, Jr., cashier, and R. T K. Bain, director. They were bailed In the sum of $10,000 each. | Tomatoes, cymblings and cabbage from the far South made their appearance in the Winchester market last week. Mr. William Montgomery, of this place, went to Cumberland last Mon. day in charge of two cans of young trout from Fish Commissioner Capt. C. S. White, which be shipped to Commissioner Miller, of Wheeling. An Englishman, looking down a list of American towns, came to those bearing the well-known names of Pawtneket, Shetucket and Nantucke 'Haw! haw !' ha exclaimed. 'Bless me, if the whole family didn't take it !'


Article from Richmond Dispatch, July 29, 1885

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THE CITIES BY THE SEA. THE LATE SHOOTING AFFAIR. Wanted to be Cowboys-Banking MattersFell from a Train-Memorial Services. [Correspondence of the Richmond Dispatch. NORFOLK, July 28, 1885. The Brimmer shooting seems to continue to agitate the street, and hardly a group gathers that the matter does not come up for discussion. Officer Howell, of the Metropolitan police, Washington, who says he saw Mitchell do the shooting, arrived this morning, and the case will have a rehearing tomorrow before Justice W. J. Land at Princess Anne Courthouse. Some twenty or thirty witnesses will go down from Norfolk. The prominent darky Republican leaders who have been turned out of Federal office here are looking around the black belt for a chance to "get their hooks in.". Jacob E. Reed, late of the custom-house, has been appointed index clerk of the county, and Judge Spalding has notified William H. Barnes, Esq., commissioner of accounts of the county, to close up his books for removal, in order that R. G. L. Paige, late assistant postmaster of Norfolk, may be appointed to the place. Mr. Barnes was appointed some four months since as the successor of the late Captain John H. Gayle. The receiver of the late Exchange National Bank is removing the property of the concern to the Dodsen building, and the new national bank has secured the Exchange building and is refitting it for opening business as soon as possible. There are two white boys about fifteen years of age in custody at the police station for vagrancy, who names as Peter J. Austin and William Harrison, and state that they live in Boston, and ran away from home to go to Texas and become cowboys." The authorities are trying to communicate with the friends of the children in Boston in order to return them. Efforts are being made to organize a new bank for Portsmouth, to take the place of Bain Brothers'. About $30,000 in stock has been subscribed in the city so far. The citizens of Portsmouth. under the management of the Grand Army and Confederate Veteran posts, will hold a memorial mass-meeting at Oxford Hall on the day of the funeral of General Grant, when addresses will be delivered and resolutions adoptel suitable to the occasion. First Lioutenant L. C. Webster, United States Marine Corps, of Portsmouth. is critically ill with the chagres fever at the hospital in Brooklyn, and his friends fear the worst. He was in the recent Panama expedition. Intelligence reached here to-day that James T. Hall, a well-known Democratic politician of the Fourth ward, is lying at the Pennsylvania Hospital, Philadelphia, fatally injured. He fell from an excursion train going to Atlantic City on Sunday. He has been unconscious since the accident. Hall is a bricklayer by trade, and left here a short time since to get work. His mother started for Philadelphia tonight.


Article from Richmond Dispatch, August 11, 1885

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DOWN BY THE SEA. GRANT MEMORIAL SERVICES. Elcborate Muste-Toe Defuget Exchange Bonk-First Dividend-The Northern ClabBouting. [Correspondence of the Richmond Dispatch.) NORFOLK, August 10, 1885. In nearly all our charches the sermons and services related to General Grant, there being elaborate programmes printed and specially-pi apr.: ed music. At Christ church, where Rev. Reverdy Estill, of Kentucky, preached. the services were exceptionally elaborate. In both cities there was no lacking of respect to the dead General, the demonstrations being general at the churches, both by the white and colored people. A county farmer said to-day that the rains of Friday and Saturday alone were the salvation of the growing crops, and worth many thousands of dollars to the agricultural community. The defunct Exchange National Bank will make its first dividend in about two weeks, paying 20 per cent., at least. which is good news to a large number of people throughout this section. It is said that the receiver, who brought the suit to break the deed of assignment of Bain & Brother on the ground of conspiracy and fraud, and was decided against by Judge Waite, of the United States District Court, will take the matter up to the Supreme Court, which will there wait, doubtless. four or five years before being reached. In the mean time the trustees have ordered the numerous Bain farms and other property to be rented out. The Northern Club, a newly-organized institution here, will open its elegant and newly-fitted rooms in the Academy-of-Music building to-morrow night with becoming style and éclat. This club is composed of a large number of business-men residing in Norfolk, who are mostly northern men by birth, and the mission of the organization is of a most worthy and commendable character. Its object is to increase the social and literary advantages of its members, to welcome new-comers to our section of Virginia, and to afford pecuniary relief to friendless and deserving poor persons from abroad. The club has been duly incorporated, and the capital stock may be increased to $200,000. The Elizabeth Boat Club of Portsmouth, after declining to accept entrance in the Old Point regatta, have concluded to enter the race with a junior crew, the members of the crew that rowed on Harlem river and at Fredericksburg all retiring from the club for the season. The new crew is practicing daily, and will endeavor to make a proper showing among the fouroared shells. The prizes, including the Hygeia cup, for the Old Point regatta are now in the city on exhibition on G. Main street. Explosion of a Soda-Water Tank-Two Men Injured. [Special telegram to the Dispatch.] NORFOLK, August 10.-A sodawater tank, while being charged at the establishment of William H. Wilson, in Portsmouth, this afternoon, exploded with terrific force, damaging the machinery of the factory and injuring John Jenkins, a white employee, and Georgs Smith (colored), a piece of the cast-iron of the tank cutting Smith's throat. The United States steamer Alliance has started from New York for repairs here, and several hundred men who have been suspended since May expect to be called into the yard. William Mitchell was tried at Princess Anne Courthouse to-day for shooting John A. Brimmer, Jr., at Virginia Beach and was acquitted, the jury being out only ten minutes.


Article from The Indianapolis Journal, November 14, 1885

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Bank Officers Indicted. NORFOLK, Va., Nov. 13.-In the United States Circuit Court, to-day, the grand jury presented bills of indictment for misapplying the funds of the suspended Exchange National Bank against the following parties: J. B. Whitehead, president; G. W. Bain, jr., cashier; Thomas A. Bain and T. K. Bain. Indictments for false entry were presented against J. B. Whitehead, G. W. Bain, jr., Orlando Windsor and C. E. Jenkins.


Article from Alexandria Gazette, November 14, 1885

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VIRGINIA NEWS. The New York Tribune says "Senator Mahone has in preparation a statement showing that the republicans of Virginia were 'counted out' and just where and how it was done." The democratic club of Wytheville has passed resolutions thanking the colored men of Wythe county who voted the democratic ticket at the late election, and assuring them of the hearty support of their white democratic friends. At the session of the Baptist Association in Richmond yesterday Rev. J. A. Speight, of Norfolk, announced his intention to print in Norfolk a Baptist paper to be known as the Baptist Pilot. The session was occupied with routine business. In the United States Circuit Court in Norfolk yesterday the grand jury presented bills of indictment, for misapplying the funds of the suspended Exchange National Bank, against the following parties: John B. Whitehead, president; George M. Bain, jr., cashier; Thomas A. Bain and R. T. K. Bain. Indictments for false entry were presented against John B. Whitehead, George M. Bain, jr., Orlando Windsor and C. E. Jenkins. The Richmond correspondent of the Norfolk Ledger writes: It is said that Mr. W. C. Elam, the editor of the Whig, has been offered an important place on the editorial staff of the National Republican, of Washington. It is not improbable that the Whig will be purchased by some enterprising person and converted into a staunch democratic journal. The names of several prominent democrats have been connected with such a project. A demonstration was held in Danville last night in honor of the recent democratic victory. The day was gloomy, but in spite of the rain a large crowd was present from the surrounding country. A procession was formed and paraded the streets between buildings brilliantly illuminated, and cheer after cheer went up as the procession moved. Speeches were made at the Star Warehouse by several speakers of prominence, and the occasion was full of enthusiasm.


Article from Evening Star, November 14, 1885

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# NORFOLK BANK OFFICERS INDICTED In the United States circuit court in Norfolk yesterday, Judge Hughes presiding, the grand jury presented bills of indictment for misapplying the funds of the suspended Exchange National bank against the following parties: John B. Whitehead, president; George M. Bain, jr., cashier; Thomas A. Bain and R. T. K. Bain. Indictments for false entry were presented against John B. Whitehead, George M. Bain, jr., Orlando Windsor and C. E. Jenkins.


Article from The Memphis Appeal, February 28, 1886

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and Elections. The following gentlemen from Norfolk are here under subpœna: C. W. Grady, commission merchant; W.H.White and Judge T.S.Garrett, lawyers; W. Peters, bank receiver, and Charles Sharp. They are all prominent citizens of Norfolk, and are understood to be personal friends of Mr. Goode. The investigation is to be a secret one. The witnesses are closeted in the adjoining committee-room, and are brought in one at a time before the subcommittee. The examination lasted an hour and a half. The charges against Gen. Goode were not made to the witnesses, but the inquiries made of them related to the appointment of Mr. Peters to be receiver of the Exchange National Bank, and so far as their replies went, they were emphatically in vindication of Gen. Goode, who is said to have been charged with receiving a fee for his services in securing the appointment. The witnesses said the appointment was made in compliance with the wishes of the business men of Norfolk. They had a hundred thousand dollars in the bank, and wished to have a man appointed receiver in whose ability and integrity they had confidence.


Article from St. Paul Daily Globe, February 28, 1886

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VINDICATING GOODE. Norfolk Witnesses Give Him a Good Character. WASHINGTON. Feb. 27.-Senators Hoar and Jackson of the sub-committee of the judiciary, appointed to investigate the charges against Solicitor General Goode, are in session this morning in the room of senate committee on privileges and elections. The following named gentlemen from Norfolk are here under subpœna. C. W. Grandy, commission merchant; W. N. White and Judge T. S. Garnett. lawyers; H. W. Peters. bankreceiver, and Charles Sharp, They are all prominent citizens of Norfolk and understood to be personal friends of Goode. The investigation is to be a secret one. The witnesses are closeted in the adjoining committee room and brought in one at a time before the sub-committee. The examination lasted about an hour and a half. The charges against Gen. Goode were not made known to the witnesses, but the inquiries made of them related to the appointment of Mr. Peters to be receiver of the Exchange National bank, and, SO far as their replies went, they were emphatically in vindication of Gen. Goode, who is said to have been charged with receiving a fee for his services in securing the appointment. The witnesses said the appointment was made in compliance of the wishes of the business men of Norfolk. They had $100,000 in the institution and wished to have a man appointed as receiver in whose ability and integrity they had confidence.


Article from Alexandria Gazette, March 1, 1886

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# THE CHARGES AGAINST MR. GOODE.- As stated in Saturday's GAZETTE, Senators Hoar and Jackson, of the sub-committee on the judiciary appointed to investigate the charges against Solicitor General Goode, were in session Saturday morning. The examination lasted about an hour and a half. The charges against Mr. Goode were not made known to the witnesses, but the inquiries made of them related to the appointment of Mr. Peters to be receiver of the Exchange National Bank, and so far as their replies went they were emphatically in vindication of Mr. Goode, who is said to have been charged with receiving a fee for his services in securing the appointment. The witnesses said the appointment was made in compliance with the wishes of the business men of Norfolk.


Article from Richmond Dispatch, March 19, 1886

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with any Chief Executive to lock the door upon the House and Senate and defeat all investigation. Mr. Spooner did not mean to imply that President Cleveland would abuse that power. It was no part of his argument to impeach the good faith of the President but he warned the Democratic side of the chamber that we were not dealing with this question for a day. The issue was one that would outlive us. As to the tenure-of-office law, Mr. Spooner criticised the President's expréssion " innocuous desuetude." The term always provoked a smile, Mr. Spooner said; but there was nothing to smile at. This was a Government of law, and he was sorry the Chief Executive of the republic should have used such words of any law that stood on the statute-books. It was a dangerous time when the President of the United States, with an oath registered in Heaven to take care that the laws should be faithfully executed," should send a message to the Senate saying that the statute had fallen into harmless disuse, though the statute remained on the books. If ever there was a time when there was need of respect for law, it was now when in many States thoughtful men were turning blanched faces to the future. How could the people be expected to yield cheerful obedience to the statutes when the first citizen of the republichimself charged with their executionwas heard asserting that the statute could harmlessly fall into disuse? But, Mr. Spooner said, the President did not believe his own statement. His acts had been better than his words. For he had sent in a large number of nominations of men to take places of officers suspended by him under authority of the very act to which reference had been made. At 5 o'clock. Mr. Spooner still having the floor, the Senate went into executive session, and in about half an hour, on the doors being reöpened, adjourned. House of Representatives. Mr. Negley, of Pennsylvania, asked unanimous consent to put upon its passage the bill to reimburse the National Home for Disabled Volunteers for losses incurred through the failure of the Exchange National Bank of Norfolk. Before the title of the bill was read, Mr. Beach, of New York, objected. Mr. Negley became indignant, but was helpless. The following committee reports were presented : By Mr. Harris, of Georgia, from the Committee on Ways and Means: Au. thorizing the establishment of exporttobacco manufactories and providing for drawbacks on imported articles used in manufacturing export tobacco. Referred to the Committee of the Whole. By Mr. Collins, of Massachusetts, from the Committee on the Judiciary To establish a uniform system of bankruptcy throughout the United States. Placed on the calendar. At the expiration of the morning hour the House again went into Com mittee of the Whole on the Indian appropriation bill. The consideration of the bill dragged drearily along, no amendments of any importance being offered. and such as were offered being usually ruled out on points of order after a long and uninteresting discussion. After finishing forty-two of the forty-eight pages of the bill the committee rose, and the House at 5:55 P. M. adjourned.


Article from Richmond Dispatch, April 29, 1886

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WASHINGTON. # THE FRIENDS OF THE BLAIR EDUCATIONAL BILL DETERMINED. The Members to be Put on Record-A Mahone Appointee-Small Distilleries-Personal Notes. [From Our Regular Correspondent.] WASHINGTON, April 28.-The friends of the Blair educational bill while unanimous in opinion that the substitute reported from the Labor Committee is an attempt to strangle legislation on the subject, will hold a conference in regard to the matter early next week. It is conceded that the Senate bill which was referred, after its receipt from that body, to the Committee on Education will never reach the floor of the House. In order to test the strength of the House on the Blair bill it is proposed to move it as a substitute for the Labor Committee's bill when the latter comes up for consideration. This may result in the defeat of the bill, but it is the only way out of the dilemma, and will at least put the members on record for the guidance of their constituencies. The choice of Senator Kenna, of West Virginia, to be chairman of the Democratic Congressional Executive Committee, is regarded as a fitting recognition of this able and rising young senator. The Committee on Invalid Pensions is trying to migrate through 3,020 bills and 1,027 petitions referred to it during the present Congress. # A MAHONE APPOINTEE. Senator Mahone has succeeded in securing an appointment in the Government printing-office for J. J. Verser, of Danville. Verser was connected with the revenue department under the old Republican regime, and is said to be one of the most offensive partisans in the Danville district. He made a confident of a gentleman at the printing-office whom he supposed was a Republican, and proved by his conversation that he has not reformed his politics one iota. Congressman Brady says that the House Judiciary Committee is composed of such profound constitutional lawyers that his bill in relation to the Virginia debt will never see the light of day outside the committee-room. TO REIMBURSE. Senator Allison, from the Committee on Finance, reported back to the Senate, without amendment and with the recommendation that it pass, the bill to reimburse the National Home for Disabled Soldiers for losses incurred through the failure of the Exchange National Bank of Norfolk, Va. Senator Call introduced a bill granting leave of absence of fifteen days, with compensation per annum, to employees of the United States navy-yards who have already served one year; also, leave of absence and compensation to employees injured in the service during the time of their disability. A half dozen petitions from principal cities of the Union, signed by thousands of merchants, were presented to-day against the license-fees imposed on commercial travellers in certain States and Territories. Lieutenant Curry, of the United States army, has filed an affidavit in favor of the claim of Charles W. Hickman, a farmer on the Virginia peninsula, for property taken and destroyed by United States troops during the war. # THE EDMUNDS UTAH BILL. The House Judiciary Committee will hear arguments in favor of the Edmunds Utah bill Friday and Saturday this week. Judge Baskine and ex-Governor Boutwell, of Massachusetts, will present the case for the Gentiles. It will require a good deal of testimony to induce the committee to make a favorable report on the bill. While the members express themselves in sympathy with the objects sought by the Edmunds bill, they regard the methods fixed upon to obtain them as both outrageous and unconstitutional. SMALL DISTILLERIES. The conference of the Virginia and North Carolina delegations has resulted in a bill presented by the Ways and Means Committee. It authorizes the Secretary of the Treasury to exempt all distilleries which mash less than five bushels of grain per day from the operations of section 255 of Revised Statutes except as to payment of tax, which shall be levied and collected on capacity of the distilleries, and they shall be run without storekeepers or "storekeepers and gaugers." The distilleries of five and less than twenty-five bushels capacity per day may, at the discretion of the Commissioner of Internal Revenue and Secretary of the Interior, be exempted from the operations of spirits except as to payment of tax. Special warehouses may also be established by the Commissioner for the deposit of the product of any number of distilleries, subject to all laws and regulations as to bonds and tax-removals as other warehouses. Section 3255 of the Revised Statutes is amended to provide that the Commissioner, with the approval of the Secretary of the Interior, may exempt distillers of brandy made exclusively from fruit "from the provisions of the title relating to the manufacture of spirits, except as to tax, when expedient to do so." It also provides that "when a judgment of forfeiture in any case of seizure is recovered against any distiller, used or fit for use in the production of distilled spirits, because no bond has been given, or against any distillery used or fit for use in the production of spirits having a registered capacity of less than 150 gallons a day, every still, doubler, worm-tub, wash-tub, and fermenting-tub therein shall be sold, as in case of other forfeited property, without being mutilated or destroyed. And in case of seizure of a still, doubler, worm, or other distilling apparatus of any kind, for any offence involving forfeiture of the same, it shall be the duty of the seizing officer to remove the same from the place where seized to a place of safe storage, and the property so seized shall be sold as provided by law without being mutilated or destroyed.


Article from Alexandria Gazette, January 29, 1887

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# THE SOUTHERN TELEGRAPH SUIT In the case of Mahone vs. the Southern Telegraph Company, touching $80,000 of Southern Telegraph bonds held by W. H. Peters, receiver of the Exchange National Bank of Norfolk, and a claim for advances made thereon by Bain & Bros., and the exceptions to said report filed by John S. Wise, attorney for certain bondholders, the United States District Court at Norfolk has ordered that the exceptions be sustained, and that Bain & Bros. or their assignees have no claim whatever upon said bonds for any advances made by them; and the court also ordered that Receiver Peters surrender to Charles T. Barry, commissioner, the $80,000 bonds aforesaid, to be cancelled as invalid issues by said company. An appeal from that decree was granted. The court allowed a rehearing of a petition of C. C. Brown & Co., which had been denied last July, and it was argued at length by Col. Ingersoll, counsel for the petioners, and again the motion was overruled. Judge Hughes filed an elaborate opinion, showing that the $376,000 of bonds sought to be set up were never legally issued. An appeal was taken.


Article from Richmond Dispatch, February 2, 1889

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PUSHING THE WORK. THE CHOWAN SOUTHERN RAILROADGREAT EXPECTATIONS. General News Notes in Norfolk and Portamouth-The Broken Home BankPersonal. Correspondence of the Richmond Dispatch.] NORFOLK, February 1, 1889. The Chowan Southern railroad is 80 tar completed that trains are expected to run through from Norfolk to the Roanoke river by the 1st of March, and then the work will be concentrated on that portion of the road between the Roanoke and Tarboro', N. C. The bridge across the Chowan river was finished several days ago, and work going ahead rapidly on the extensive drawbridge across the Roanoke, with its five granite piers and 1.200 feet of trestle-work. Not a day is lost in the construction of the road, and the contractors will all get through on time. The warehouses and wharves here willall be ready in time. Great things are expected of this new feeder by the businessmen of Norfolk. The depositors of the collapsed Home Bank have appointed a committee to take legal steps against the officers of the bank for making false statements and obtaining money under false pretences. The report of the experts stated that the various entries made in the last published statement of the officers were not justified by the facts brought out in the investigation of the books of the bank. The cashier is in Boston. It IS freezing cold here to dar and there WAS a flurry of snow last night. The change is to a certain extent desirable. Mr. Jordan B. Blackburn, a popular merchant of Norfolk. and Miss Fannie B. Spindle, daughter of C-ptain Joseph C. Spir die, of Essex county, were married here last eve. sing. and left on the Chesapeake and Ohio line for the West. Commodore A. E. Bateman is president of the new company organized to operate the Gosport cotton-docks and the Seaboard compress-works. in this city, All this property sold for less than half of what it was valued at when the Exchange National Bank failed. Mr. Charles H. Johnston, a popular busi. ness- and hotel-man of this city, has been appointed manager of the Ocean House. in Portsmouth, for the Atlantic and Danville railroad. During last month there were thirty-one marriages in this city: in Norfolk county twenty-six, and in Portsmouth nine. William Mitchell (colored), of this city, has been arrested and committed to jail in Suffolk for a forgery committed here. This morning Detective W. Wilbern left for Lynchburg with a twelve-year-old runaway named Harvey Miller, who has been at work in a feed store here for three months. During last month there were thirty-one deaths in Portumouth. The city is thronged with strangers and the hotels are all full. R. T. K. Bain and L. W. Buskey are on their way to the Albany peuitentiary. This morning United States Commissioner C. T. Barry sent on for trial a negro man named Andrew Wright, charged withfalsely representing bimself at the post-office and obtaining possession of A letter belonging to another party and containing $58, which money Wright spent in spreeing. Captain Mordecai, of the police department, arrived to-night from Wilmington, N. C., with the forger Barnes. The captain and crew of the disabled teamer Rescue arrived here to-day from North Carolina. The rescue will be towed LO Philadelphia for repairs.