21856. True Reformers' Bank (Richmond, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 9, 1918
Location
Richmond, Virginia (37.554, -77.460)

Metadata

Model
gpt-5-mini
Short Digest
c86a48b1

Response Measures

None

Description

Newspaper articles (Richmond Planet, 1918-03-09) state the True Reformers' Bank is defunct, receivers (James W. Gordon and ex-Judge Daniel Grinnan) were appointed and receivers sold property to pay final dividends to depositors. No run is described; bank is closed and in receivership.

Events (2)
1. March 9, 1918 Other
Newspaper Excerpt
The Mechanics Savings Bank has purchased the old True Reformer Hall ... The proceeds will be placed to the credit of the Savings Bank. ... The Mechanics Savings Bank through its President John Mitchell Jr. made a flat offer not only for this property but also for a $500 note. Upon the recommendation of the Receivers, the offer was accepted.
Source
newspapers
2. March 9, 1918 Receivership
Newspaper Excerpt
Attorney James W. Gordon and ex-Judge Daniel Grinnan are the Receivers. This is the final chapter in the conversion of all of the assets of the defunct True Reformers' Bank into cash. Arrangements are under way to pay the last and only remaining dividend to those who were depositors in the institution.
Source
newspapers

Newspaper Articles (2)
1. March 9, 1918 Richmond Planet Richmond, VA
Article from Richmond Planet, March 9, 1918

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Article Text

MECHANICS SAVINGS BANK BUYS TRUE REFORMER PROPERTY The Mechanics Savings Bank has purchased the old True Reformer Hall in Pulton and the one on Church Hill located on 30th St. The Law and Equity Court. Judge Beverly Crump presiding designated and appointed Attorney J. R. Pollard as Special Commissioner 10 convey the property to the Bank by deed and this has been done. The proceeds will be placed to the credit of the Savings Bank. Grand Fountain United Order of True Re formers. Attorney James W. Gordon and ex-Judge Daniel Grinnan are the Receivers. This is the final chapter in the con version of all of the assets of the de funct True Reformers' Bank in O cash. Arrangements are under way to pay the last and only remaining dividend to those W.I.D were depositors in the institution. The Mechanics Savings Bank through its Presiden John Mitchell Jr. made a flat offer not only for this property bat also for a $500 note Upon the recommen dation of the Receivers, the offer was accepted

2. March 9, 1918 Richmond Planet Richmond, VA
Article from Richmond Planet, March 9, 1918

Click image to open full size in new tab

Article Text

MECHANICS SAVINGS BANK BUYS TRUE REFORMER PROPERTY. The Mechanics Savings Bank has purchased the old True Reformer Hall in Fulton and the one on Church Hill located on 30th St. The Law and Equity Court, Judge Beverly Crump presiding designated and appointed Attorney J. R. Pollard as Special Commissioner to convey the property to the Bank by deed and this has been done. The proceeds will be placed to the credit of the Savings Bank, Grand Fountain, United Order of True Reformers. Attorney James W. Gordon and ex-Judge Daniel Grinnan are the Receivers. This is the final chapter in the con version of all of the assets of the de funct True Reformers' Bank in:o cash. Arrangements are under way to pay the last and only remaining dividend to those who were depositors in the institution. The Mechanics Savings Bank through its President John Mitchell. Jr., made a flat offer not only for this property but also for a $500 note. Upon the recommen dation of the Receivers, the offer was accepted.