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THE TRADERS
The Secretary and Treasurer Issues a Statement. Various rumors being in cir ulation yesterday in regard to the finanial condition of the Traders' Loan, Trust and Deposit Company, of this (city, a representative of The Times called at the tank and on inquiring as to the truth of the report that the company had made an assignment, received the following statement from the secretary and treasurer, W. L. Andrews: "The Lynchburg National Bank bought certain stock in the Traders' Loan, Trust and Deposit Company, of J. W. Coon and others, for which. stock they demanded that the bank transfer them the company's improved real estate; but the directors and offiers deeming it contrary to the interests" of depositors to give the company's best assets to the stockholders, leaving the depositors out, declined to comply with the demand of the Lynchburg National Bank. They offered, however, that if the Lynchburg bank would pay an adequate amount of cash on the real estate that the company would ac. cept the stock in part payment. This not meeting with the views of the Lynchburg National Bank they asked for a receiver. The Traders Bank has promptly paid all checks presented and will continue to do 80, but has ceased to take deposits. The officers and directors deny that there has been any intention of making an assignment. Motion for a receiver will be made Saturday morning in Judge Dupuy's court. All "check depositors can get their money." Mr. Andrews was seen later yesterday evening by a Times reporter and said in answer to the rumor that all business had been suspended at the bank, that he had closed business yesterday at the usual hour and expected to continue this morning. The bank had improved real estate in this city, which at the assessor's valuation would fully cover all claims and that there were parties who would be willing at any time to take the assets of the bank and assume all of its liabilities.