3b4c4eecPartial suspension
Other: Trustee deed of assignment filed; voluntary liquidation by directors; receiver application resisted.
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SUFFOLK BANK IS BANKRUPT Merchant and Traders Bank Will be Placed in Hands of Receivers Only Two Years Old. Suffolk, Va., April 16.-The Merchants and Truckers Bank is in financial straits and a receiver will be appointed. The bank was organized two years ago and has a paid up capital of twenty-one thousand six hundred and twenty- five dollare, and deposits of fourteen thousand.
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Suffolk Bank Suspends. SUFFOLK, Va., April 16.-The Merchants and Truckers' Bank, organized about three years ago, partially suspended business, though the doors remained open. There were insufficient funds to meet all the checks. President W. R. Myers was out of town, and a director. while reticent as to the exact status of affairs, said the bank had stopped taking deposits and that likely there would be a liquidation. Application will be made tomorrow for the appointment of a receiver The Mer-
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SUFFOLK BANKING HOUSE PARTIALLY SUSPENDS Receiver Will be Asked for Merchants' and Truckers' Bank-Depositors Will Be Paid. (Bv Associated Press.) NORFOLK. VA., April 15.-Unable to meet the heavy demands of depositers the Merchants' and Truckers Bank of Suffolk, with a small branch in Southampton county. partially suspended business today. and the directors announce that there will be volum tary liquidation. A receive: will be asked for at once. It is claimed depositors will bepaid in fail. The bank was organized there years age and was doi.3 only a small bust neza,
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Virginia News. Rev. W. A. R. Goodwin, rector of Bruton Parish Oburch, Williamsburg, has declined the call to St. Paul's Church in Rochester, N. Y. Prof. William M. Jones, for many years in the cotton business and twice president of the Norfolk city school board died yesterday after a brief illness. The big plant of the Imperial Fertilizer Company, at Money Point, near Norfolk, was completely destroyed by fire starting from some unknown cause early today, with a loss ol $100,000. The jury in Richmond yesterday in the case of Frank P. Burke, indicted for robbing the mail, could not agree and were discharged. Eleven were for conviction and one for acquittal. Burke will be tried again. Augustus Wright, one of Petersburg's leading business men, died yesterday evening at his residence on south Sycamore street of pneumonia. He was a native of Germany and came to Petersburg about 45 years ago, He was 69 years of age and is survived by his widow and six children. The Merchants and Truckers' Bink of Suffolk, organized about three years ago, yesterday partially suspended business, though the doors remained open. There were insufficiant funds to meet all the checks. It is reported that depositors will be paid in full. The bank has 8 branch at Branchville, Southampton county. A receiver will be appointed.
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Will Ask For Receivers. NORFOLK. VA., April 16.-Applica. tion will tomorrow be made for the appointment of receivers for the Merchants' and Truckers' bank of Suffolk. which yesterday suspended. The Merchants and Truckers' bank is the parent institution of several small banks in Southampton, Surry and Nansemond counties, including the banks at Branchville and Dendron, Va. R. H. Rawles and R. W. Withers are scheduled for receivers. The prospects are that the assets of the failed bank will be sufficient to pay depsits amounting to $7,000, but stockholders will probably lose all. The capital stock is $25,000.
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WITHER STAKES CHARGE. Trustee of Merchants and Truckers' Bank at Suffolk. (By Associated Press.) NORFOLK, VA., April 17.-a deed of assignment. with R. W. Withers as trustee, was filed today against the Merchants and Truckers' Bank, of Suffolk, and its branch, at Branchville, Southampton county. A number of depositors have filed a petition for a receiver which will be heard Monday by Judge McLemore, of the Suffolk Circuit Court. It is declared that the depositors have less than $10,000 in the institution, and will be paid in full. Trustee Withers took charge Immediately.
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SUFFOLK BANK CLOSES DOORS. Claimed that Depositors Will Be Paid in Full. Special to The Washington Herald. Suffolk, Va., April 17.-The Merchants and Truckers' Bank to-day filed a deed of assignment to Robert W. Withers, trustee. there being insufficient funds to meet the checks of depositors. The directors decided to liquidate. The bank operated a branch at Branchville, Southampton County. which also is included in the assignment. It is claimed that the depositors will be paid in full. Lloyd Freeman, of Norfolk, representing the National Exchange Bank, of Baltimore, petitioned Circuit Judge McLemore to-day for the appointment of a receiver and Monday was set for argument. The National Exchange Bank, of Baltlmore, is a creditor to the extent of about $2,500. Other creditors will join with the request of the Baltimore bank and the trustee will resist the appointment of a receiver. The capital stock of the Merchants and Truckers' bank is $22,000. It has been in business about three years. At the time of suspension deposits had been withdrawn to $10,000 or less.
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Trustee Remains in Charge. Suffolk, Va., April 20.-Circuit Judge McLemore to-day refused the application to appoint a receiver of the assigned Merchants and Truckers Bank to supersede Trustee Robert W. Withers, but gave leave to the plaintiffs to file an amended bill to be considered later. The National Exchange Bank of Baltimore, a creditor for $3,500, was among those who asked for 3. receiver.
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Virginia News. Mrs. Oatharine O. Smoot died yester. day at her home, Salona Farm, Langley, Fairfax county. The Virginia State Dairymen's Association is to meet in Leesburg October 1 for & session of two days. Depositors of the Merchants and Truckers' Bank, of Suffolk, which suspended some months ago, were paid in full. The stockholders will not receive over 10 per cent. Gabriel V. Warner, a retired farmer and a highly estesmed citizen of Loudoun county, died yesterday in the eighty-first year of bis age. During the civil war be served in the Eighth Virginia Regiment. In the circuit court of Pittsylvania on Saturday 8 jury returned a verdict against the Southern Railway in favor of Mrs. Jennie M. Satterfield for $8,000 Her husband, J. M. Satterfield, was killed on the road. The case of Prof. J. D. Harrls, former principal of the Warrenton High School, accused of shooting and killing W. A. Thompson, associate editor of the Warrenton Virginian, on April 24 last, will be tried at Warrenton tomorrow. A record price for Frederick county fruit lands was paid Saturday for the John L. Grant farm, 5 miles from Winchester. One tract brought $105.50 per acre and another sold for $94 per acre. The land lies in the apple belt. The International Liberty Union with headquarters in Dayton, Ohio, which bas many branches in the state among the negroes, has been ordered to cease business by Commissioner Button. Complaint that policies were not paid led to investigation. The concern aid not get a license or register as a fraternal organization Several thousands of dollars have been collected by the concern. Men, women an children were made members. Laboring under the impression that a burglar in her house was one of her sons walking in his sleep, Mrs. Samuel Harris, of the Brook road near Richmond, in attempting to prevent the intruder getting out of 8 second-story window early yesterday morning was seized by the man, both the burgular and the woman failing from the window to the ground below a distance of 40 feet. The burglar apparently none the worse for his long fall, immediately got up and ran away. Not until she saw he was a negro did the woman realize her mistake. The noise of the scuffle in the house awakened the son of Mrs. Harris, who fired at the burglat twice as the man retreated. The woman was taken into the house, when it was found that she was badly braised, though no bones were broken.
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Depositors of the Merchants and Truckers' Bank, of Suffolk, which suspended last spring, have received checks for the full amount, but the shareholders may only get 10 per cent.