21855. True Reformers' Bank (Richmond, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 26, 1910
Location
Richmond, Virginia (37.554, -77.460)

Metadata

Model
gpt-5-mini
Short Digest
3d8ecc9d

Response Measures

None

Description

The True Reformers' Bank in Richmond was closed/suspended and a receiver appointed (Oct 26, 1910). Reporting indicates insolvency due to gross mismanagement and alleged embezzlement by the cashier; extensive receivership and indictments followed. There is no evidence in the articles of a depositor run prior to closure or of a later reopening, so this is a suspension leading to permanent closure (receivership).

Events (2)
1. October 26, 1910 Receivership
Newspaper Excerpt
William A. Moncure was made receiver... On petition of several depositors ... Edward M. Pilcher was yesterday appointed co-receiver with William A. Moncure for the True Reformers' Bank by Judge Grinnan in the Chancery Court.
Source
newspapers
2. October 26, 1910 Suspension
Cause
Bank Specific Adverse Info
Cause Details
State investigation found the bank insolvent for months; deputy insurance commissioner cited gross mismanagement and possibly criminal negligence; later allegations of embezzlement (~$25,000-$30,000) by the cashier surfaced.
Newspaper Excerpt
The bank was closed October 26 by order of the Chancery Court of Richmond
Source
newspapers

Newspaper Articles (16)
1. October 28, 1910 Daily Press Newport News, VA
Article from Daily Press, October 28, 1910

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Failure of Richmond Bank Affects Colored People Here. TWO THOUSAND MEMBERS Authentic Report Says That Grand United Order of True Reformers Has Many Policy Holders in Peninsula Towns and Counties. Acording to authentic reports circulated on the Peninsula yesterday, fully 2,000 negroes of Newport News, Hampton, Phoebus and the adjoining counties are members of the Grand United Order of True Reformers, the largest negro fraternal insurance society in the world, and are affected by the failure of the True Reformers' Bank at Richmond this week and the subsequent suspending by the State insurance commissioner of the license of the insurance company to do business in Virginia. The failure of the bank and the resulting embarrassment of the fraternal order came as a heavy blow to a number of negroes in this section. Many other negroes of this section were hard hit by the failure of the Gallean Fisherman's Bank at Hampton, which is an adjunet of the Galilean Fisherman's fraternal insurance order. Reports from Richmond yesterday were to the effect that the affairs of the True Reformers are in a hopeless tangle and that the State authorities believe that the insurance order will be carried to the wall by the failure of the bank. It is said that the bank carried more than $300,000 of the depos ts of the insurance company and that the fraternal order will not be able to pay 20 cents on the dollar to its policy holders. The order has a large membership throughout the South and up to the time of the failure of the bank it was generally regarded as the strongest negro insurance society in existence. Charges Gross Mismanagement. In his order suspending the license of the insurance company, J. N. Brenaman, deputy commissioner of insurance, sets forth that the license is suspended "on account of gross mismanagement, if not criminal negltgence of the present and former management in safeguarding its funds." While the order of the deputy commissioner is effective no applications for beneficial membership in any branch of the association must be considered nor any initiations permit. ted within the confines of the State of Virginia. The order is to remain effective until the affairs of the True Reformers' Bank can be settled up. It is reported from/Richmond that after the affairs of the bank are finally adjusted the insurance association will be forced to the wall ause of its heavy losses due to the failure of the bank. Many Tents on Peninsula. It is said that there are about twenty local tents of the True R:eformers in this city, Hampton, Phoebus. Elizabeth City county. Warwick county, York and the adjacent counties and that among the members are some of the most influential and wellto-do negroes in titls section. It is claimed that all of them will be losers by the failure of the bank and the suspension of the license of the association in Virginia.

2. October 28, 1910 The Times Dispatch Richmond, VA
Article from The Times Dispatch, October 28, 1910

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treasuries of the local lodges to pay sick benefits and to defray local expenses. Perhaps most of the 1,000 subordinate lodges in Virginia kept their funds on deposit with the True Reformers' Bank. If this is found to be correct, the difficulties in the way of ever getting the order on its feet will be incomparably greater than at first supposed. May Keep Membership. In this connection the Bureau of Insurance desires it made clear that the suspension of the license does not mean that the order cannot receive regular dues from those who are already members. No new members may be received, but the old members, it n they so desire, may keep up their paya ments, and if death or sickness losses e occur, they will have their share of t whatever is saved from the apparent wreck. As a matter or fact, the only 7. possible way in which the order can e hope to continue in business is through e the loyalty of its members. d Nothing can as yet be told as to the -future. It is still hoped, however, by is the Bureau of Insurance that a suffi10 cient amount of the deposits of the orader in the bank can be recovered in on the settlement to pay off the claims ed against the society. Then, with conservative management, it may be enabled to proceed with its current revis enues. No moneys belonging to the eorder are now being deposited in the by True Reformers' Bank. but are being be placed in other institutions. st In addition to the funds of the True SReformers, the bank held a number of ty, deposits of public institutions. The rs individual amounts are not large, but itthe losses will fall heavily. One large sal colored church, it is reported. had all its available cash, something less than ot $1,000, on deposit. Innumerable church nsocieties had small sums in the bank, he and probably half of the colored a churches of the city are to-day criperpled because of the receivership. How ate much they will ever realize is proolehe matical. A maximum of 50 per cent. has been estimated, but in most quarters this is regarded as too large a in, figure. nd, Personal Losses. the Individual cases of loss are numerous. Savings deposits of hard-working and thrifty colored men and women are involved. Many laborers and (lomestics told their employers that their all was in the bank which has gone down into possibly complete ruin. The situK ation in many colored homes is said to be most pitiful. stA great deal of talk was heard yes& terday as to possible prosecutions, and it is freely believed that information

3. November 3, 1910 Daily Press Newport News, VA
Article from Daily Press, November 3, 1910

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LOCAL POLICY HOLDERS WILL FILE THEIR CTAIMS Attorney J. Thomas Newsome Thinks That Order of True Reformers Will Be Saved. Attorney J. Thomas Newsome. colored, returned yesterday afternoon from Richmond, where he went to look after the interest of several clients who hold claims against the True Reformers, the big negro insurance company, which recently lost its II. cense to do business in Virginia, following the failing of the True Reformers' Bank. Newsome says that while nothing definite has been done, it is generally believed in Richmond that the company will be able to Loat a loan of about $50,000. secured by its real estate, which will be sufficient to pay all past due claims and put the company on a solid basis again. No effort will be made to save the bank. In the meantime. Newsome proposes to file the claims of all of his clients with the receivers so that in the event a loan is not procured. they will come in for their pro rata of the assets.

4. November 3, 1910 Evening Star Washington, DC
Article from Evening Star, November 3, 1910

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EXPLAINS TROUBLES OF TRUE REFORMERS W. R. Griffin, Chief Grand Fountain, Hopes Insurance Department Will Resume. W. R. Griffin, Chief Grand Fountain of the United Order of True Reformers, the fraternal beneficiary organization, the insurance license of which was suspended last Saturday, arrived in this city today and explained the society's side of the case. Mr. Griffin, general manager of the Washington branch of the insurance department of the order, has been attending a meeting of the directors of the order. Mr. Griffin's Statement. He made the following statement this morning to reassure the 4,900 members of the society in the District: "Strong effort is being made by the officers of the Grand Fountain of the United Order of True Reformers to finance the order, in spite of the troubles that have followed the suspension of the insurance license. "With the aid and advice of prominent financiers and insurance men of Richmond, and with the hearty encouragement or the bureau of Insurance of Virginia, efforts are being made to put the order in such condition as to cause the authorities of the Old Dominion and the District to vacate the order suspending its license, and to permit it to proceed as a fraternal beneficiary association. "Divorced from banks and business enterprise which crippled the efforts of the society in the past and cost It large sums of money, it is hoped that the True Reformers can be again placed upon their feet and continued as an associationflzz Resumption Is Hoped For. "Much depends on the result of they receivership of the True Reformers' Bank in Richmond. If a sufficient dividend to creditors can be realized to liquidate the death claims and other debts outstanding, the order may continue to exist with the aid of its monthly income, which is about $25,000. It is evident, however, that a complete reorganization is needed, and that the business must proceed upon a scientific basis, in accordance with the

5. November 4, 1910 The Washington Herald Washington, DC
Article from The Washington Herald, November 4, 1910

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# HOPE FOR TRUE REFORMERS. Grand Fountain May Patch Up Insurance License Trouble. W. R. Griffin, general manager of the Washington branch of the insurance department of the True Reformers, returned to Washington yesterday from Richmond, where he attended a meeting of the directors of the order. Mr. Griffin says that a strong effort is being made by the Grand Fountain to finance the order in spite of the trouble which has followed the suspension of the insurance license. "Much depends on the result of the receivership of the True Reformers' Bank in Richmond," said Mr. Griffin yesterday. "If a sufficient sum is realized to liquidate the death claims and other outstanding debts the order may continue to exist with the aid of the monthly income, which is about $25,000." He announced that a public mass meeting of the depositors in the bank would be held in a few days.

6. November 5, 1910 Richmond Planet Richmond, VA
Article from Richmond Planet, November 5, 1910

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TRUE REFORMERS' TROUBLES. Trying to Raise Money.-Moral Support Pledged.-Depositors to Meet. There have been no further developments in the failure of the True Reformers' Bank and the inability of the Grand Fountain, United Order of True Reformers to pay its death claims and other obligations. The firm of Messrs. John L. Williams & Sons, bankers and brokers with the cordial approval of Mr. Stewart Bryan have been endeavoring to devise a plan to save the Order by making terms with the beneficiaries of the past due policies. Mr. W. P. Burrell Grand Worthy Secretary is the leading figure in this movement and has high hopes of meeting with success. If this plan goes through, it will be the result of an agreement by which the present assets of the Order can be pledged to this banking firm as a security for the fifty thousand dollars V hich are now needed to give the Order a "running start" so to speak. While there has been some talk about arrests on account of the action of the bank officials in receiving deposits after they knew the bank was unable to meet its obligations, which offense is a felony, no definte steps have been taken in this respect. The Independent Order of St. Luke Mrs. Maggie L. Walker, G. W. S., pledged their moral support at a meeting held last Monday night at the Second Baptist Church. Mr. J. H. Sampson and Dr. James A, Jackson have called a meeting of the depositors at the Pythian Castle, 727 N. Third Street for Lext Monday night. The indications are that the Hall will be packed.

7. November 12, 1910 The Colorado Statesman Denver, CO
Article from The Colorado Statesman, November 12, 1910

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TRUE RE FORMERS Bank Suspends. Closing of Institntion a Sensation in Colored Banking Circles. True Reformers will Probably continue to do business as an Individual. Bank Business. Resume not will Commissioner Brenaman on October Richmond, Va., Nov. 1.-Quite a sen26, revoking the license of the True sation was created in colored banking Reformers' banks, reads as follows: circles last week by the announcement October 26, 1910. that the True Reformers' Bank, locaTo the Grand United Order of tea in this city, had been closed and that a receiver had been appointed to True Reformers, W. P. Burrell, take charge of the affairs of the inSecretary, Richmond, Va.: solvent institution. This is to notily you that the liThe bank was closed October 26 by cense or the Grand United Order order of the Chancery Court of Richor True Reformers to transact mond, and William A. Moncure was business in this state as a tratermade receiver. nai benericiary association is susFor several months rumors have pended on account of the gross been current that the affairs of the mismanagement, if not criminal negligence or its present and torbank were in an unhealthy condition, mer management in safeguarding but many were under the impression its funds. The fees and dues of that with the new change in manageall applicants for beneficial memment by the order several weeks ago bership who are initiated into the that eventually the institution would organization on or after this date be put on a thriving business basis. in lodges located in the state of The Savings Bank, Grand Fountain, United Order of True Reformers, had Virginia must be immediately returned to the applicants. No apalready called a meeting of stockholdplications for. beneficial memberers for November 30, at which an elecship in any branch of the assocition of officers was to be held. Anation must be considered nor any other important matter to have been initiations permitted within the considered was the adoption of the polconfines of the state of Virginia icy as defined by the Bureau of Insurance which prevents fraternal orders while this order is effective. This and insurance companies from operatorder will remain effective until ing banks. the affairs of the Savings Bank of Bank Insolvent for Several Months. the True Reformers and of the Reformers' Mercantile and IndusInvestigation by the State Bank examiners shows that the True Reformtrial association are liquidated, ers' bank has been insolvent for a either by order of court or othernumber of months. However, it has wise, or until the money on deposit in said bank and other assets of been given out that the depositors will the Grand United Order of True not be embarrassed by the crash, and if so but very little. Reformers in the possession of said bank have been returned to According to sworn statements, the the association. bank had $290,468.34 on deposit, of which amount $27,000 belonged to the (Signed) J. N. BRENAMAN, society. Dep. Commissioner of Insurance. The order issued last week by DepThe Bureau of Insurance has given uty Insurance Commissioner J. N. out the statement that examinations have disclosed the fact that the True Brenaman in revoking the license of Reformers' bank is holding $57,000 the True Reformers' bank is said to worth of checks drawn by the order to be final. In the future all fees and pay insurance claims, which the indues of applicants initiated are to be stitution has been unable to honor It returned at once. No applications for is said that other unpaid claims are beneficial membership in any branch owed amounting to $120,000. of the order must be considered in VirSince the election of A. W. Holmes ginia while the suspension order is opas head of the order, in the place of erative. Rev. W. L. Taylor, several weeks ago, While prospects are not bright relat the biennial session of the Grand ative to the bank resuming business, Fountain, the members and friends of the heads of the order are confident the order have been optimistic as to that conditions will be such as to perits future. Even under the present mit the True Reformers to continue discouraging circumstances it is doing business as an individual organthought that the True Reformers will ization. be able to keep the fraternal branch Formal Order Issued. intact. The formal order issued by Deputy

8. November 18, 1910 The Times Dispatch Richmond, VA
Article from The Times Dispatch, November 18, 1910

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CO-RECEIVER NAMED Pilcher Associated With Moncure in Direction of True Reformers' Bank. On petition of several of the depositors, represented by Judge George L. Christian and J. R. Pollard, Edward M. Pilcher was yesterday appointed coreceiver with William A. Moncure for the True Reformers' Bank by Judge Grinnan in the Chancery Court. Mr. Moncure had been appointed receiver for the bank, a widely known colored institution, previously, and consented to the appointment of a co-regeiver. He and Mr. Pilcher qualified jointly and filed bond in the sum of $50,000, with the Virginia Trust Company as surety.

9. February 21, 1911 The Times Dispatch Richmond, VA
Article from The Times Dispatch, February 21, 1911

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# TRYING TO SAVE # TRUE REFORMERS Special Meeting of Grand Fountain Will Be Begun in Richmond To-Day. Negroes are gathering in Richmond from all over the Atlantic seaboard States, south of the Mason and Dixon line, to attend the special session of the Grand Fountain of True Reformers, which begins in this city to-day. The meeting, which is to last three days, has been called by the president for the purpose of devising plans to again put this big fraternal beneficiary society on its feet. The license of the True Reformers to do business in this State was revoked several months ago, following the legal proceedings which placed the True Reformers' Bank in the hands of a receiver. The latter has not as yet made a report, but it has been understood from time to time that the affairs of the banking department of the order are in inextricable confusion. In fact, the persistence of the leaders in considering the bank an industrial corporation, as parts of the order, instead of as separate business institutions, aided in the troubles of the True Reformers. The society, which should have been in good financial condition, was made to aid the bank, and as a result its funds were tied up. There seems to be little doubt that the order can be again placed in running order if the counsels of the white friends which have been indorsed by the leaders of the organization, are followed by the Grand Fountain this week.

10. March 26, 1911 The Times Dispatch Richmond, VA
Article from The Times Dispatch, March 26, 1911

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Reuben L. Hill, One of South's Leading Negroes, Has Disappeared. FILLED MANY POSITIONS Was for Twenty-Two Years With Colored Bank Here. Which Recently Failed. It was reported last night to the Police Department that Reuben L. 11111, for twent: two years cashier of the True Reformers' Bank, which recently failed, and one of the best known negroes in the United States, is missing. Ue left his home Friday morning, and went to Washington. This much has been learned. His family fears that his mind is affected Hill occupied a position almost at the head of the colored people of the city and the South. He is, besides having been cashier of the bank, the treasurer of the United Order of True Reformers: the largest colored secret order in the world. which was also involved in the recent crash. Hill is president and treasurer of the Capltol Shoe Supply Company, treasurer of the First Baptist Church (African), president of the colored Young Men's Christian Association. of Richmond. secretary of the Virginia Baptist Sun: day School Association, treasurer of the Lotta Carey Foreign Missionary Society. and a director of the Virginia Union University. He was also a leader in the display made by his race at the Jamestown Exposition. The police of other cities have been asked to look out for him, as it is feared that he is wandering about. He is about fifty-four years old, dark brown in color. five feet two inches in height. and wears a moustache turning gray. His build is heavy. Left Without Warning. Hill left his home early Friday morning for lits office on Second Street. Since the True Reformers' Bank suspended he has been assisting the receivers and had also his other business affairs to attend to. His family learns that he took the 8:10 train that morning at Elba, and from a porter 11 was found that he paid his fare between Alexandria and Washington. It is stated that Hill has been much worried since the failure of the bank. of which he was the first and only cashier throughout its history. He is said to have lost heavily in the faUure, and in addition was troubled about the funds on deposit there belonging to societies of which he was treasurer One of these was the Lotta Carey Society, which supports missionaries in the foreign fleld. 11111 felt that he was personally responsible for this fund, he had duet mode

11. April 7, 1911 The Times Dispatch Richmond, VA
Article from The Times Dispatch, April 7, 1911

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SOCIETY FAILED TO GET ITS CASH Civil Suit Filed After Cashier Hill Suddenly Disappeared From Town. SEARCH STILL GOING ON Hunsdon Cary Got Promise of Money, but Never Could Locate Hill. While the report of receivers who have been investigating the financial affairs of the True Reformers' Bank will not be filed in the Chancery Court for a week or ten days, the disappearance of R. T. Hill, the cashier, continues to mystify directors and a large number of colored people who lost their savings when the institution was closed as a result of a State investigation. Some facts which have recently come to light show that Hill had been hard pressed by some of his people, he having made desperate efforts to raise funds to satisy one demand without success. Since he disappeared, a police circular, signed by Major Werner, has been sent broadcast with his description, offered a reward of $25 for any information which might lead to the discovery of his whereabouts. There is no warrant. however, for his arrest. Cary Files Civil Suit. Before Hill left the city without notifying his family that he would not return, he told his friends that a young lawyer was on his trail. and that he had to have money. But he failed to borrow it. A day or two after he went away Hunsdon Cary, counsel for the Lotta Carey Baptist Foreign Missionary Society, filed a civil sult In

12. April 12, 1911 The Times Dispatch Richmond, VA
Article from The Times Dispatch, April 12, 1911

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CASHIER HILL'S WOMAN HELPER UNDER ARREST Police Now Seeking Colored Banker Charged With Theft. SEARCH HOME, BUT NOT FOUND THERE Fifteen Warrants Issued, Charge Being That Bookkeeper and Hill Stole $30,000 From True Reformers' Bank-Receivers to Show How Negroes Were Fleeced. Following the arrest yesterday afternoon of Agnes B. Reese, one of his bookkeepers, on ten warrants charging her with stealing money from the Institution. search for Reuben T. Hill, for twenty-two years cashier of the Savings Bank of the Grand United Order of True Reformers, has developed into a criminal hunt. and to-day circulars bearing the photograph and description of the missing negro will be cast abroad through the country. On a verbal report made by E. M. Pilcher and William A. Moncure, receivers. to Judge Grinnan, of the Chancery Court. Commonwealth's Attorney Minitree Folkes early yesterday took immediate action against Hill by summonsing Captain McMahon, head of the Detective Bureau, and ordering him to begin a country-wide search for the cashier. Fifteen Warrants Issued. Within a short time, on information obtained from the receivers, Captain McMahon swore out ten warrants for the Reese woman. who was immediately arrested, and five warrants for Hill. The warrants in both cases are the same in character. though they vary in the amounts specified. The woman was arrested without trouble. It was rumored that Hill, instead of having left the city, was in hiding in his home at 1401 West Leigh Street, and thence Captain McMahon, Detective Sergeant Balley and Acting Detective Krengel repaired. They searched the house from top to hottom. from cellar to attic, but no trace of Hill could be found. The cashier's wife. who seems to know nothing as to her husband's whereabouts, was almost prostrated. Charge Theft of $30,000. Returning to the station, the officers swore out the five warrants. and It is said that they will be followed by many more. Every warrant is for a felony. The charges against Hill have not been spread on a public record, and will not be so spread until he is caught. but it is said that the total amount of his alleged embezzlement will amount to between $25,000 and $30,000. It is also alleged that the stealing has been going on for a numher of years, and that his thefts are the main cause for the wrecking or the True Reformers' bank. Several hours after her arrest the Reese woman was bailed by Judge Witt in the sum of $1,500, with A D. Price and E. R. Giles as security. She is to appear in Police Court on April 15. She made no statement. except to say that she had heard that Hill was still in town. After searching his house the detectives believe that Hill left Richmond on the date his family stated that he disappeared. Shows Bad Condition. The written report of the receivers has not yet been handed in to Judge Grinnan, but it is learned they had proceeded far enough in their Investigation of the conditions of the defunct bank to show that they had been in a chaotic state for some time, and to lead them to believe that Hill was mainly responsible. Without waiting to complete their report, the receivers reported verbally to Judge Grinnan, and requested immediate action. No time was lost in summonsing Commonwealth's Attorney Folkes, and the wheels of justice were started. The full report may be handed in to Judge Grinnan within the next few days, and then the exact state of the bank at the time it failed will become known. When the True Reformers' Bank failed hundreds of negroes lost every cent they had. The bank contained savings from $5 up. and the poor and wealthy lost alike It was because of Hill's reputation as one of the leading men among his race that the bank was regarded as stable, and for some days after he disappeared it was believed generally that he left Richmond on account of a demented mind rather than because he had been guilty of crime and feared that his misdeeds would be discovered shiugion

13. August 5, 1911 The Times Dispatch Richmond, VA
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# GRAND JURY NOT # READY TO REPORT Still Probing Into Cause Which Led to Ruin of Colored Bank. Continuing its examination of conditions which led up to the ruin of the True Reformers' Bank, the special grand jury called to make due inquiry heard several new witnesses yesterday, and adjourned at 2 o'clock to 10 o'clock Monday morning. It is probable that the investigation will require several days more, and it may be late next week before the results are known. Among the witnesses summoned yesterday were Colonel Joseph Button, State Commissioner of Insurance, and Richard E. Byrd, Speaker of the House of Delegates. J. N. Brenaman, deputy commissioner, also appeared, as a volunteer witness to aid Colonel Button in explaining details in a certain transaction. Mr. Byrd was likewise called on to explain details of a transaction in which he is said to have appeared as counsel for the department. Work Kept Secret. Exactly what transpires in the grand jury room no one outside of the jurors and the witnesses knows. The jurors may not speak of the results of their inquiries until investigation is completed. Witnesses are also required to keep their counsel until due report is made. Otherwise they are liable to be held in contempt of court. So rumor as to what a grand jury may do or is expected to do is generally rumor only, based on guesswork. It goes without saying, however, that the special grand jury is taking every pains to fasten blame for the ruin of the bank on those believed to be responsible for the disaster which affected so many, and it is regarded as probable that other indictments will be returned. The main losers by the disaster were the poor colored people, many of whom lost the savings of a lifetime when the bank was made insolvent. The Grand Fountain of the Order of True Reformers, of which the banking Institution was a part, was also a heavy loser. The peculations are believed to have extended over a period of fourteen or fifteen years.

14. August 8, 1911 The Times Dispatch Richmond, VA
Article from The Times Dispatch, August 8, 1911

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NEGROES HOLD MEETING Take Active Interest in Matter of True Reformers' Bank. The investigating committee lookIng into the affairs of the True Reformers' Order met in Asbury Methodist Church, colored. last night. A set of resolutions looking to the reorganization of the order was presented. though no action was taken. The intent of the resolutions was to do away with the receivers. placing the assets of the True Reformers with the order rather than with the bank. If the resolutions are adopted, and the court gives Its consent, the order will pledge itself to pay off the depositors. The committee has planned to have meetings of this kind in all parts of the city in order to acquaint the people with the true condition of affairs. Tonight's meeting will be held at the Third Methodist Church. The meetings are presided over by Adolphus Humbles, and the chief speaker is W. R. Griffin, chairman of the investigation committee. B. A. Cephas acts as secretary. The resolutions will be offered at each meeting, but no definite action can be taken until the majority of members of the order has acted upon them. Outside of the grand jury investigation, those most Interested in the order are hoping that they will be able to save the organization, despite the fact that it practically has become demoralized by the recent disclosures.

15. August 16, 1911 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, August 16, 1911

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WANTS TO MOVE TRUE REFORMERS NEGRO COUNSEL WOULD TRANSFER HEADQUARTERS OF ORDER TO NEWPORT NEWS. NEWPORT NEWS, VA., August 15. -Determined to make a strenuous fight to have the headquarters of the True Reformers, a negro insurance society. moved to this city from Richmond, a strong delegation of negroes of this city, Hampton and Norfolk will go to Richmond Sunday, and wage their battle before the Grand Session in that city next Tuesday. Attorney J. Thomas Newsome, colored. who has been making a sweeping investigation into the looting of the True Reformers' Bank with the result that several of its old officials have been indicted, will head the Tidewater delegation. He will be actively assisted by E. C. Brown, of this city; W. H. C. Brown, of Norfolk, and Robinson, of Hampton. The Tidewater delegation has engaged Miller's hotel, the largest negro hostelry in Richmond, and will make its headquarters there. That the headquarters of the True Reformers will be moved from Richmond seems certain, but if they are brought here it will ony be after a hard fight. Some of the officials want headquarters transferred to Washington, but many others prefer having them in a small city. According to Newsome, the negroes are wholly dissatisfied with Richmond and want the order moved away from that city. He thinks that if the headquarters are transferred to a small town were there are not so many well to do negro people it will prosper better than if taken to a larger city. Employe Many Clerks. In the headquarters of the order sixty-one clerks are employed and most of them would be transferred here if the headquarters are established in Newport News. The receipts of the order amount to nearly $1,000 daily, and so the bringing of the order to this city would mean much for the local banks. Newsome will leave to-day to travel about the country "boosting" Newport News as the logical place for the headquarters. He is general counsel for the order, and will urge that the headquarters should be here so that he can look after the business and see that it is properly run. Delegates From Many States. About 1,100 delegates will convene in Richmond from thirty-seven states and the District of Columbia. This will be the first meeting since the True Reformers' Bank went under and a stormy session is anticipated. Institute Many Suits. Suits aggregating $200,000 are to be instituted by Newsome against officials of the wrecked bank. These suits will be on behalf of the True Reformers as an insurance order for the recovery of funds of that Institution which are alleged to have been stolen before the bank was wrecked. The Bank and the True Reformers are separate institutions, but, of course, the order had large deposits in the bank and when the institution failed the order came near being wrecked. However, it has been saved and is rapidly recovering the ground lost by reason of the failure.

16. August 25, 1911 The Times Dispatch Richmond, VA
Article from The Times Dispatch, August 25, 1911

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TRUE REFORMERS ADOPT LEWIS PLAN It Now Goes to Individual Members of Order For Their Approval. MAY SOLVE BIG PROBLEM Courts Will Be Asked to Release Property of Involved Bank. At the final mass-meeting of the delegates and members of the Grand Fountain, United Order of True Reformers. a colored organization, last evening, the much discussed Lewis plan for the rehabilitation of the involved bank, which was an adjunct of the order, was unanimously indorsed. It directs that a petition be presented to the courts asking for the release of the bank's property, now held by receivers, and for the transfer of these assets of the Grand Fountain, which will enter into agreements with those holding claims against the defunct bank looking to the liquidation of their claims. With the indorsement of the convention as a body, the plan now will be submitted to the individual members of the order throughout the United States. and, with the consent of threefourths of these, will be made the basis of the petition to the courts. Expert legal opinion favors this action, and it bids fair to solve the really big probIem which the convention met to consider. Directors' Meeting. At the directors' meeting in the afternoon, presided over by Vice-Grandmaster Floyd Ross. of Missouri, men were chosen to fill the offices of medical director of the order and editor of the Reformer, the official organ of the society. The "clean sweep" program was strictly adhered to in the selection of Dr. John Alexander Lewis, of Richmond, for the medical post, to succeed Dr. A. A. Tennant, the incumbent. The single fact that Dr. Tennant had gone on the bond of one of the defaulting officers was sufficient. in the eyes of the delegates, to disqualify him for the position. and he was ousted. A similar fate for a like offense met B. A. Graves. former editor of the official organ, James T. Mitchell, of Newport News. being elected to the editorship. The new editor is an inspector of customs in the port of Newport News. The report of Retiring Secretary W. T. Burrell showed that the Grand Fountain was in good condition finanrially, over $60,000 having been disbursed in death claims since last February. General Attorney J. Thomas Newsome reported that he had drawn up twenty-two indictments against va. rious officers of the defunct True Reformers' Bank. and had instituted civil suits aggregating $27,000 against the same persons,