Savings Bank (Newport News, VA)

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& NOTICE

To whom it may concern: As assignee and receiver of the assets of the Savings Bank of Newport News. I hereby inform all persona owing money to said bank. that I am authorized to receive payment of same. and. until further notice, the bank's room will be open for that purpose the same hours as Tormer:y. J. A. WILLETT. 5-22-3t Assignee and Receiver,

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NOTICE

To whom it may concern: As assignee and receiver of the assets of the Savings Bank of Newport News. I hereby inform all persons owing money to said bank that I am authorized to receive payment of same, and. until further notice, the bank's room will be open for that purpose the same hours as Turnierty. J. A. WILLETT. 5-22-3t Assignee and Receiver. DTC

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NOTICF

To whom it may concern: As assignee and receiver of the assets of the Savings Bank of Newport News. I hereby inform all persons owing money to said bank that I am authorized to receive payment of same, and. until further notice, the bank's room will be open for that purpose the same hours as formerry. J. A. WILLETT, 5-22-3t. Assignee and Receiver.

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VIRGINIA NEWS.

Destructive forest fires are raging on Massanutten Mountain, in Page county, and thousands of dollars worth of timber and bark are being destroyed.

Col. George C. Cabell, Jr., of Norfolk, has made official announcement of his candidacy for the democratic congressional nomination in the Second district.

The first green peas shipped from the Rappahannock Valley this season went from Middlesex county to Baltimore May 12 and brought $3 per half barrel. Green peas went in Fredericksburg Saturday from King George county.

Mrs. Mary McPherson died at her home, near Vienna, Fairfax county, on Saturday evening, aged about 70 years. She was the widow of William McPherson, of Loudoun, and daughter of the late Charles Davis, of the same county.

John Michael Wilt, a native of Germany, died Sunday night at the home of his daughter, Mrs. Margaret M. Miller, in Winchester, aged 81 years. For 40 years Mr. Wilt had been boss weaver at Griffith's woolen factory near that city.

Smallpox has broken out afresh in the western section of Frederick county. Many cases are reported in the vicinity of Hinckle, Rock Enon and Reynolds Store, several of the most prominent residents having the disease in their homes. Its spread was caused by disregard of quarantine regulations.

T. D. Campbell, the penitentiary guard who shot himself Saturday morning, in Richmond, died Sunday and the body was shipped to Amherst, his home. He told Dr. Carrington, the prison physician, that he had a terrible dream, and, waking suddenly, shot himself. He begged Dr. Carrington to save his life.

Judge Martin, of Norfolk, Monday appointed J. A. Willett, of Newport News, receiver for the Savings Bank of Newport News, whose president, Irvin Tucker, killed himself Saturday as he was about to be arrested upon the charge of defaulting with funds of the bank. Mr. Willett is cashier of the First National Bank of Newport News. Tucker's shortage is now placed at $22,000.

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WANT TO KNOW ABOUT AFFAIRS OF THE BANK Depositors of the Defunct Savings Bank of Newport News Hold a Meeting. VERY DELAY OVER IMPATIENT Resolutions Adopted Demanding an Accounting of Assets and Liabilities in Detail-Receiver Willett Says He is Settling Up Business as Quickly as Possible. A large number of the depositors of the defunct Savings Bank of Newport News held a meeting last night at the Central Labor Union hall for the purpose of forming an organiza tion to look after their interests William Gath was elected temporary president and G. W. Meadows secretary. There was a great deal of discus sion, all of the speakers declaring it their opinion that the depositors should take steps toward having the affairs of the defunct bank closed up without delay. Resolutions Adopted. The following resolutions were adopted: "Resolved that time sufficient hav ing elapsed since the closing of the doors of the Savings Bank of New port News, we, depositors and credit ors, pledge ourselves to secure our rights "Resolved, that having lost contidence in the banking fraternities of Newport News we shall withdraw cur business and influence from the same unless proper measures are at once taken to protect our interests. "Resolved that we demand the strict accounting of the assets and liabilities of the said bank in detail: also we demand to be informed of the status of the incorporators, directors and stocksholders of said bank. "Resolved that if the banking laws and powers are to ignore depositors in the way experienced. all confidence in banks and banking is lost. "Resolved that we, the victims of advertised fraud and confidence, pro pose to immediately take steps both legally and locally to protect our rights. "Resolved that these resolutions be published in the local papers. (Signed) 'WILLIAM GATH, president pro tent. "G. W. MEADOWS, sec. pro tem." Mr. Willett's Statement, When seen by a Daily Press re porter last night. Mr. J. A. Willett, receiver for the Savings Bank of Newport News, stated that he was closing up the affairs of the bank as rapidly as possible; that loans could not be collected until they were due and that the business of the in stitution could not be closed up 1111 til the loans were in Mr. Willett did not seem to be at

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NOTICE

On and after July 16th the office of the Savings Bank of Newport News will be in the banking room of the First National Bank. corner of Washington Avenue and 28th Street, where all notes will be due and payable. J. A. WILLETT. Assignee and Receiver. 7-15-2t.

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MR. JONES IS RECEIVER. Takes Charge of Affairs of Defunct Savings Bank. Judge Barham, in the Corporation Court, has appointed Mr. Allen D. Jones as receiver of the defunct Savings Bank of Newport News, to succeed Mr. J. A. Willett. No attorney is appointed to succeed Mr. O. D. Batchelor.

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SPECIAL NOTICE

-ALL PARTIES indebted to the Savings Bank of Newport News will make settle. ment of their obligations at the of fices of Allan D. Jones. second floor, First National Bank Building, Newport News, Va. ALLAN / D. JONES. Assignee and Receiver of Savings Bank of Newport News. 8-5-3t

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SPECIAL NOTICE

SPECIAL NOTICE.-AL PARTIES indebted to the Savings Bank of Newport News will make settle ment of their obligations at the of fices of Allan D. Jones. second floor. First National Bank Building, Newport News, Va. ALLAN D. JONES. Assignee and Receiver or Savings Bank of Newport News. 8-5-3t

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EXAMINING INTO AFFAIRS OF BANK Special Commissioner Mitchell Begins Investigation Ordered by Corporation Court. AFFIDAVIT OF THE BOOKKEEPER Records of Institution Were Correct at Time President Tucker Killed Himself and Doors Were Closed, Report Will Be Submitted to Judge Barham Soon. Special Commissioner C. C. Mitchell, appointed by Judge Barhain in the Corporation Court to examine into the affairs of the defunct Newport News Savings Bank and make a I'L port to the court. began his investigation at 10 o'clock yesterday morning in the law offices of Allan D. Jones, receiver for the bank. Miss Lily S. Stewart. who was for several years bookkeeper in the bank and who held that position when the bank was closed, was the only witness examined yesterday. She made affidavit as to the correctness of the books of the bank at the time the Institution was closed. After her tes timony had been taken the commis sloner and Captain C. C. Berkley, attorney for the depositors, went over ,the books together, arranging the names of the depositors in alphabetical order and placing the amount of their balances as shown on the books opposite their names, showing in concise form the amount of money each depositor had in the bank when the doors were closed and the total amount of the deposits. The commissioner will now make detailed statement of the money on hand in the bank when it closed. the amount collected on notes by the receiver and all moneys now due the bank from all sources. Commissioner Mitchell will continue his investigation today and he expects to have his report ready to submit to Judge Barham in a short time. The investigation now being made is the result of a suit brought against the officers and directors of the defunct bank by the depositors, to recover the full amount of their balances in the bank at the time It had to be closed because of defalcation of its late president. Irwin Tucker. In their bill the depositors allege that the trouble resulted from negligence on the part of the directors and officers. The suit will be taken up in the Corporation Court as soon as Commissioner Mitchell completes his investigation.

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Receiver for Sage & Co

Claims to Hold Deposit Certificates for $8,361.13. "NEWS" TO RECEIVER JONES. Total Shortage Was Believed to Be $36,000, But This New Claims Runs Amount Up to $45,000-Taking Depositions In Suit of Depositors is Resumed. Attorney Allan D. Jones, receiver for the defunct Savings Bank- of Newport News, has received a letter from Attorney Henry A, Gaede, of Hoboken, N. J., receiver for M. J. Sage & Company, bankrupt brokers of New Jersey, in which the writer states that he holds certificates of deposits aggregating $8,361.13 issued by the defunct bank to Sage & Company, and requests to be informed when he may expect dividends. The books of the bank show no entries of such deposits and Receiver Jones knew nothing of them until the letter arrived from Mr. Gaede. On later examination, however, he found that the deposit certificates were missing, but the stubs do not show to whom they are issued nor do these certificates appear as a liabilitw in the bank's statéments. Mr. Jones stated yesterday that c aims of Sage & Company would be contested. Sage & Company leased a wire to the alleged "bucket shop" which was being operated in the rear of the Savings Bank at the time the late President Irwin Tucker committed suicide, and it carried a large account with the bank. When the doors of the institution were closed the books of the bank showed that the account

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Messrs. J. M. Curtis, H. J. Lewis and W. H. Sears Cross-Examined In Bank Case.

ALL TESTIFIED TO SOME FACT

Witnesses Are Said to Have Sworn That Board Did Not Meet After December 9, 1902—Evidence May Not Go to Judge Ingram Until Early in Winter.

City Treasurer J. M. Curtis and Messrs. H. J. Lewis and W. H. Sears, directors of the defunct Savings Bank of Newport News, were recalled to the stand yesterday for cross-examination by Captain Charles C. Berkley, counsel for the depositors in their suit against the officers and directors of the wrecked bank to recover the full amount of their deposits. All of the witnesses are said to have testified that no meeting of the directors of the bank were held after December 9, 1902, but beyond that no important evidence was given by them.

The attorneys for the plaintiffs expect to finish taking depositions by next Friday and will file the testimony taken up to that time in the clerk's office of the Corporation Court. After the depositions are filed, the expert accountants employed by Attorney Allan D. Jones, receiver for the defunct bank, to go over the books of the institution and compile statements regarding the condition of the bank during the past two or three years, will submit their reports and be examined by the attorneys for both the depositors and the directors and officers.

It is expected that the attorneys for the defendants will begin examining witnesses the latter part of the month. The taking of the depositions of those witnesses probably will require several months and the complete testimony of both sides probably will not be submitted to Judge Ingram, who is setting in the case, before early this winter.

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Judge Ingram Allows Each Side Two Days In Which to Address Court. READ DEPOSITIONS LATER Distinguished Counsel, In All Twelve Lawyers, Engaged In the Proceedings Instituted by Depositors of the Wrecked Savings Bank of Newport News. Argument in the suit of the depositors against the officers and directors of the wrecked Savings Bank of Newport News will be opened in the Corporation Court at 10 o'clock this morning before Judge Ingram. of the Richmond Law and Chancery Court. Judge Ingram. and several out-of-town lawyers who are interested in the case, arrived in this city yesterday morning. The judge held a brief session of the court yesterday morning to discuss the mode of procedure. After a lengthy conference with the attorneys in the case, Judge Ingram announced that he would have the argument commence this morning and would give each side two days in which to present its case. After the argument, Judge Ingram will return to Richmond to read the voluminous record of the depositions that have been taken here during the past eighteen months. Also the attorneys will submit written argument to the court and that will be read along with the depositions. Distinguished Counsel. Some of the' foremost attorneys of Virginia have been retained in this case and when court convened yesterday morning an unusually brilliant array of legal talent was present. Representing the plaintiffs are Captain Charles C. Berkeley, of this city, leading counsel, Hon. Allan Caperton Braxton. of Staunton. Attorney John S. Eggleston. of Richmond. and Attorney Allan D. Jones, receiver for the defunct institution. The defense is in the hands of Attorneys R. G. Bickford, C. Aylett Ashby, J. Winston Read, R. M. Lett and O. D. Bachelor. of this city. David S. Pulliam. of Richmond, William H. White, of Norfolk and S. Gordon Commings, of Hampton. Capt. Berkeley Speaks. Captain Berkeley will open the argument for the defense this morning. His address probably will consume the entire morning session. One of the attorneys for the defense will answer and Hon. A. C. Braxton probably will be the next speaker. When Judge Ingram will hand down his decision in the case cannot be foretold at this time. He probably will require several weeks to examine the depositions and the written argument. Cause of Suit. This suit grew out of the wrecking of the Savings Bank by its late president. Irwin Tucker, who blew out his brains on the morning the bank was forced to suspend in May. 1906. The depositors are suing for the full amount of their deposits on the ground that the wrecking of the bank resulted from the gross negligence of the officers and directors. The case has attracted considerable attention throughout the state. and its outcome will be watched with great interest in this and other cities of Virginia.

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Captain Berkeley Opens Argument In Bank Case. MR. CUMMING WILL REPLY TODAY Attorney For Plaintiff Argues That Wrecking of Bank Was Result of Negligence on Part of Directors of the Institution. Before Judge J. H. Ingram. of Richmond, in the Corporation Court yester. day morning. Captain Charles C. Berkeley began the argument for the plaintiffs in the suit of the depositors against the officers and directors of the wrecked Savings Bank of Newport News for the recovery of the full amount of their deposits. Captain Berkeley's address consumed the entire day, concluding just before the court adjourned in the afternoon. This morning Attorney S. Gordon Cummings, of Hampton. will open the argument for the defense. He probab. ty will be followed for the defense by Attorney R. G. Bickford. Hon. A. Caperton Braxton, of Staunton, will close the argument for the defense Friday. In the meantime Attorney John S. Eggleton, of Richmond, and Atorney Alian D. Jones, receivers for he defunct bank, will speak for the plaintiffs. Besides Attorneys Bickford and Cummings, Messrs. Ashby, Read, Lett and Batchelor, of this city, and Messrs. Pulliam, of Richmond, and White, of Norfolk, will speak for the defense. In his address yesterday Captain Berkeley took up the affairs of the Savings Bank from a period about three years before the institution was forced to close its doors, and gave a recital of them up to the time that the bank's president, Irwin Tucker. committed suicide by firing a bullet into his brain. Captain Berkeley's argument was along the line that the wrecking of the bank resulted from the alleged gross agligence of the officers and directors in failing to hold meetings and at. tend to the affairs of the institution. It is said that the evidence in the case shows that the directors had not held a meeting during the two years preceding the closing of the doors of the bank.

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Richmond Jurist Ready to Make Known Findings in Savings Bank Case. SUIT IN UNUSUAL INTEREST Depositors of Wrecked Institution Are Endeavoring to Recover Full Amount of Their Deposits From Officers and Directors-History of Case Recalled. Judge Ingram, of the Law and Chancery Court of Richmond, has written to Judge Barham that he will come here in October to announce his decision in the suit of the depositors against the officers and directors of the wrecked Savings Bank of Newport News to recover the full amount of their deposits. In his letter to Judge Barham, Judge Ingram does not name the date on which he will render the decision, but he probably will come early in October. He requests that Judge Barham notify the attorneys in the case that he will come here next month. No civil suit ever brought in a court in this city has attracted as much local interest as this one and Judge Ingram's decision will be anxiously awaited by the several hundred depositors in the defunct bank as well as by attorneys and bankers and the public generally. That the case will not end with Judge Ingram's decision is a foregone conclusion, for it will be appealed to the State Supreme Court by the losing side, whether that side be the officers and stockholders or the depositors. About $40,000 Involved. The suit involves about $40,000 and is the outgrowth of the wrecking of the bank by its former president, Irwin Tucker, in May, 1906. The doors of the bank were closed on the 25th day of that month and an examination of the bank's affairs the same day disclosed the fact that Mr. Tucker was about $20,000 short in his accounts. He had left a note to the of ficers, saying that he was going abroad to recuperate his fortunes and that he would pay the money back as quickly as possible. After reading the note, the officers of the institution swore out a warrant for Tucker's arrest and placed It in the hands of Chief Reynolds. Although the cashier had been seen on the streets early that morning it was thought that he had left the city. Hoping to find some clue by which he might trace the missing man, Chief Reynolds went to Tucker's room on an upper floor of the bank building. Just as the chief unlocked the door, Tucker, who was inside, blew his brains out with a revolver. Receivers Appointed. A receiver for the bank was appointed, Mr. J. A. Willett being named by the court. Later Mr. Willet resigned and Attorney Allan D. Jones was appointed. Following an examination of the bank books, the deposttors, through their atteronys, Captain C. C. Berkeley, of this city and Hon. A. Caperton Braxton, of Staunton, brought suit against the officers and stockholders to recover the full amount of their deposits. Owing to his close personal relations with some of the defendants in the case, Judge Barham declined to sit in the case, and Governor Swanson appointed Judge Ingram, of Richmend, as the trial judge. Took Depositions For Nearly a Year, The taking of depositions in the case consumed upwards of a year and the depositions were filed in the clerk's office of the Corporation Court last winter. Judge Ingram then came here to hear the argument in the case The attorneys afterwards submitted written arguments to the court and since that time Judge Ingram has been going over the evidence and the argument. In their suit, the depositors alleged that the wrecking of the bank was brought about by gross negligence on the part of the directors and stockholders.

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Judge Keith, President of Virginia Suprdme Court, Notifies Plaintiffs' Counsel. MEFTING OF DEPOSITORS SO BE HELD THIS WEEK Record of Case Has Been Made Up and It Can Get Before Court Without Delay-Proceedings Have Been Pending For the Past Four Years. Judge James Keith, president of the Virginia Supreme Court of Appeals, yesterday granted the plaintiffs an appeal irom that portion of the decree of Judge John H. Ingram, of Richmond, releasing former City Sergeant E. W. Milstead, City Treasurer J. M. Curtis, Dr. Noah Jackson and Manley M. Barnes from liability as directors in the case of Vaughan against the Savings Bank of Newport News for the recovery by the depositors of the defunct bank of the full amount of their deposits. Captain Charles C. Berkeley, of counsel for the depositors, is now arranging for a meeting of the depositors to transact certain necessary bus. iness matters in connection with the apeal. The meeting probably will be held this week and the appeal will be taken at once. The entire record in the case has been made up and there will be no delay in getting the matter before the Supreme Court. Gambled Bank's Money Away. This case has been in the courts for the past four years. In May, 1906, the Savings Bank of Newport News closed its doors and Irwin Tucker, its president, whose gambling in "bucket" shops caused the wreck of the bank, blew his brains out a new hours after the bank was closed and while officers were searching for him to arrest him on the charge of embezzlement A few months after the bank went into the hands of a receiver, the depositors, through Attorneys A. Caperton Braxton, of Staunton. and C, C Berkeley, of this city, brought suit in the Corporation Court to recover their deposits, aggregating $45,000. Judge Ingram Tries Case. Owing to the fact that some of the parties to the suit were close personal friends of his, Judge T. J. Barham requested Governor Swanson to ap point a judge to try the case. Judge John H. Ingram. of the Law and Chancery Court of Richmond was named. Immediately afterwards the taking of depositions was begun and Judge Ingram rendered his decision in the case several months ago. He held that Messrs. Milstead, Curtis and Barnes and Dr. Jackson were not directors of the bank and were not liable. His decree held the di rectors Dr. Clarence Porter Jones, Dr. Carter Perkins and A. T. Pulliam liable to the depositors. At that time it was generally believed that the depositors would be unable to recover a cent from these men and subsequently all of them filed petitions in voluntary bankruptcy and were adjudged bankrupts. Receiver Allowed to Appeal. However, before that was done, counsel for the depositors sought to

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RAISING FUNDS TO

APPEAL BANK CASE

Depositors Hold Meeting and Half of Required Sum is Raised.

Many of the depositors of the wrecked Savings Bank of Newport News met at Rosenbaum's hall last night to discuss ways and means of carrying the now famous bank case to the Supreme Court of Appeals of Virginia. About $1,700 will be necessary to print the record of the case for presentation to the Supreme Court and this money is being raised by depositors.

Attorney Allan D. Jones, receiver for the defunct institution, told the depositors that from communications which he has from depositors and from the statements of the depositors present, he estimated that more than half of the necessary money to make the appeal is in sight.

It was decided to hold another meeting of the depositors on the night of January 10 at the same place for the purpose of completing all arrangements for perfecting the appeal.

Attorneys Charles C. Berkeley, of this city, and Braxton and Eggleston, of Richmond, have been retained to represent the receiver in the appeal.

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WILL COMPROMISE IF COURT AGREES Litigation Growing Out of Failure of Newport News Bank Nears Settlement. [Special to The Times-Dispatch.] Newport News, Va., February 21.Agreeing to pay $8,900 in settlement for the full amount of the claims against them, City Treasurer J. M. Curtis, former City Sergeant E. W. Milstead and Manley H. Barnes have effected a compromise which probably will finally end litigation in the famous case of the depositors of the Savings Bank of Newport News against that institution, its officers and directors. If the court confirms the agreement entered into by the receiver and counsel for the parties, the depositors will get an additional 15 per cent. of their money, making a total of 40 per cent. that they will receive of the $42,000 they had on deposit in the Savings Bank of Newport News at the time the doors of that institution were closed, following the suicide of its president, Irwin Tucker. Irwin Tucker blew out his brains in May. 1906, after losing nearly the whole of the funds of the bank in speculation. He left a note in which he said that he hoped his life insurance policies would help to pay on the depositors. However, nothing has ever been recovered on the policies. At the time the bank closed there was hardly enough actual cash in the vault to pay off the janitor. Suit was filed by the depositors, through Charles C. Berkeley, of this city, and A. C. Braxton, of Staunton, against the bank and its officers and directors for the full amount of their deposits. Judge John Ingram, of Richmond, was appointed by Governor Swanson to sit for Judge Barham, of the local Corporation Court, in the case. After a long drawn out trial, during which much bitter feeling was engendered by the attacks of counsel for the depositors upon the defendants, the court handed down an opinion holding Dr. Clarence Porter Jones, Dr. Carter Perkins, A. T. Pulliam and A. C. Bristow, directors and stockholders, liable for the full amount of the deposits. Bristow was not within the jurisdiction of the court, but is said to have been practically bankrupt, and the judgment threw the other three against whom the verdict was rendered into bankruptey. The plaintiffs received practically nothing from the judgment. In the meantime, Allen D. Jones, receiver for the defunct bank, had been realizing on the outstanding paper of the institution, and had refunded to