Planters & Mechanics Bank (Petersburg, VA)

Episode Information

Episode UID
3284103391013
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
328410339 hash
Start Date
May 19, 1884
Location
Petersburg, Virginia (37.205, -77.392)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cb50a2c260d41658

Response Measures

None

Description

Grand-jury and legislative inquiries found gross mismanagement and trustees handled assets; deed of assignment followed suspension.

Events (4)
1. May 19, 1884 Run
Cause
Bank Specific Adverse Info
Cause Details
Prior sharp withdrawals and local loss of confidence driven by mismanagement, large overdrafts, and rumors of bad loans/insufficient securities
Measures
Bank posted notice of temporary suspension and prepared statement of condition
Newspaper Excerpt
There was a sharp run on this bank on Saturday ... the run again commenced this morning as soon as the doors were opened
Source
newspapers
2. May 19, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension followed heavy withdrawals and discovery (or rumors) of mismanagement, large overdrafts, and worthless notes
Newspaper Excerpt
The Planters and Mechanics Bank ... suspended payment and closed its doors this morning at half-past 9 o'clock
Source
newspapers
3. May 20, 1884 Other
Newspaper Excerpt
The directors of the bank made an assignment ... placing all creditors upon a general footing and giving preference to trustees (assignment reported May 20-21).
Source
newspapers
4. February 9, 1885 Receivership
Newspaper Excerpt
Judge Mann decrees that the funds now in the hands of the trustees of the bank be distributed pro rata among the creditors; trustees have on hand $90,000 and will pay dividend of 20-22 percent.
Source
newspapers

Newspaper Articles (25)
1. May 20, 1884 Daily Republican Wilmington, DE
Article from Daily Republican, May 20, 1884

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Bank and Business Suspensions. The Erie County Savings Bank of Erie, Penna., suspended on Monday morning. Its capital is $150,000, its liabilities about $360,000. Its President is said to have been speculating in oil. He has left Egie. The stockholders of the bank are wealthy. The Planters and Mechanics' Bank of Petersburg, Virginia, suspended on Monday morning. The Directors say the suspension is only temporary, and promise a satisfactory statement of the bank's condition. The City Exchange Bank of Laporte, Ind., made an assignment onSaturday. Liabilities, $36,000 ; assets, $21,000. Brennan & Co., bankers of Charlotteville, Virginia, closed their doors on Monday, announcing that they thought it would be best to suspend for a few days. It is believed their depositors are secure. Henry Stratton & Co., wholesale liquor dealers of Petersburg, Virginia, made au assignment on Monday afternoon. Liabilities, $33,000 assets, $25,000.

2. May 20, 1884 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, May 20, 1884

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NEW YORK, May 20.-Affairs in financial circles are going on much the same as previous to the turbulent events of last week. There is no rush or excitement, and the streets in the vicinity of the exchange are entirely free from the tumultuous crowds that gathered in them since Wednesday last. The attendance of brokers shows no falling off, and the morning found them early at their various offices, hurriedly preparing for the opening of the market. The board-room at the opening of business was in marked contrast with the closing days last week--all quiet and orderly, no rushing of brokers from one stock crowd to another; and the entire absence of any exeitement whatever, There are no indications now of further big failures, though small ones are possible. The feeling is still uneasy and nervous. NEW YORK, May 20.-The failure of W. B. Scott & Co., bankers, has just been announced. The Erie Savings bank has closed its doors. Among the depositors are a large number of railway men. it is reported that an eng ineer of the Lake Shore loses $3,000 of his savings. The cause of the suspension is not made public. It is remored that President Adam Brabender has left the country. LONDON, May 20.-The market for American railway securities at noon was quiet and somewhat irregular. Compared with Saturday's closing prices, St. Paul shows a decline of 11/8; Reading, 11/4: Erie, /8; Erie seconds, 1/6; New York Central advanced 1/; Illinois Central, 1/2; Lake Shore was off 11/3 from Saturday's closing. NEW YORK, May 9.-The sympathy extended to Donnell, Lawson & Simpson has induced them to submit a proposition to their creditors which will result in their resuming business in a few days. It is confidently expected that the necessary clemency will be extended to them. e NEW YORK, May 20. -Fisk & Hatch say B that negotiations are progressing for the settlement of all debts between the firm and the Newark Savings institution. There is every promise that none of the firm's Chesapeake & Ohio securities will be put upon the market. PETERSBURG, Va., May 20.-The Planters & Mechanics Bank has closed its doors. A heavy run is being made on the Petersburg Savings Bank, but it is thought that the bank will be able to withstand it. S.

3. May 20, 1884 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, May 20, 1884

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THE STATE AT LARGE. PETERSBURG AND VICINITY. Suspension of the Planters and Mechanic Bank-Other Banks Meet Promptly All De mands-Confidence Restored. [Correspondence of the Richmond Dispatch. PETERSBURG, May 19, 1884. The Planters and Mechanics Bank, of thi city, suspended payment and closed it doors this morning at half-past 9 o'clock a half-hour after opening for business The following paper, which was posted o the front door, explained the situation : NOTICE.-Owing to the stringency in the mone market. caused in great part by the present finan cial crisis. this bank is forced temporarily to sus pend operations. A statement of the condition o the bank is now weing prepared, which will 1 made public as soon as possible, and we assure it will prove satisfactory to the most scrutinizing By order of the Board of Directors. J. T. YOUNG, President. There was a sharp run on this bank o Saturday, which it was hoped and believe would be withstood. The run again com menced this morning as soon as the door were opened, and it was deemed necessar to suspend. The suspension caused a goo deal of feeling and uneasiness upon th streets, and gave rise to a vigorous run o several hours upon the Petersburg Saving and Insurance Bank and the Bank of Peters burg. These banks were fully prepare and promptly met, dollar for dollar, ever demand made upon them. It was notice able that the run was made by the smalle depositors. These banks have an abun dance of money on hand to meet all thei obligations, and while small amounts wer being withdrawn large sums were being deposited by the wealthier class. Thi fact restored confidence and gave assuranc of the perfect solvency of these banks, and by 1 o'clock the run had stopped, all ex citement had ceased, and business at thei counters had resumed its healthful routine It 18 said that the suspënsion of the Plan ters and Mechanics Bank will be only temporary, and that business will be re sumed as soon as the securities it holds car be realized upon. This bank was one o the depositories of the State as well as o the city. It is understood that the city ha on deposit with it to-day a very insignifi cant sum, if any. The suspension of this bank caused th assignment during the day of the large and well-known liquor-house of Messrs. Strat ton & Co., on Old street. All feeling of uneasiness and furthe trouble has disappeared this afternoon, and confidence is expressed that no furthe complications will result. In the Mayor's Court this morning the case of young George C. Orgain, who wa arrested here on Saturday on suspicion o having stolen a horse and buggy valued a $350, the property of W. H. Cosby, o Richmond. was called for examination It was shown in the evidence that the voung man had bured the horse and bugg

4. May 22, 1884 The Daily Cairo Bulletin Cairo, IL
Article from The Daily Cairo Bulletin, May 22, 1884

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Something Rotten. PETERSBURG, va., May 21.-Some suspicious facts have come to light in connection with the failure of the Planters' & Mechanics' Bank. It has been proven that no money was loaned to peanut dealers, as reported, and that the President and Directors withdrew their accounts and made over all the property they had in the State to friends or relations before suspending. It is announced that the Directors have decided to dispose of the bank's property and distribute the proceeds among the creditors, and the stockholders have called a mass-meeting to .protest.

5. May 23, 1884 Daily Los Angeles Herald Los Angeles, CA
Article from Daily Los Angeles Herald, May 23, 1884

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Items of Interest. Wall street was quiet yesterday. Alexander White shot himself at Sherburn, N. Y. Counterfeit silver dollars are being circulated in Los Angeles. The League of American Wheelmen is in session in Washington. Charles Romellio was killed by a train near The Dalles, Or., yesterday. The Erie County Bank of Savings, at Erie, Pa., suspended yesterday. A great fire occurred at Bei-Bazar, Asia Minor, eleven persons perishing. Sam Ward, once a famous lobbyist in Washington, died in Ituly recently. Richard Lloyd was drowned in the Columbia river, Oregon, Saturday. J.P. Williams pleaded guilty to a charge of bigamy in Visalia yesterday. Adolph Baker was fatally crushed near Portland, Or., by a log rolling upon him. The Mormons are making great head way among the lower classes in Missis. s.ppi. Two physicians "fell out" at Tangier Island, Va., when one shot the other dead. The prevailing hot weather in Oregon is unprecedented in the history of that State. The recent tin discoveries in Dakota are creating great excitement in that region. Adolph Baker, a logger, was fatully crushed near Portland by a log rolling on him. The Planters' and Mechanics' Bank of Petersburg, Va., has temporarily closed its doors. At Fairbank, A. T., Sunday, William Humphreys shot and instantly killed J. R. Mason. Trouble is brewing with the Indians in the Northwest Territory, and a fight is anticipated. A 1000-pound silvertip bear was killed recently by a hunter in Yellowstone county, M. T. Mrs. 8. A. Carroll's residence, near Grass Valley, was destroyed by fire Saturday night. The State Viticultural Commission held a meeting with closed doors in San Francisco yeaterday. It is stated that Congressman Money, of Mississippi, is about to establish a Democratic newspaper in San Francisco. Spokane Joe, an Indian murderer, has been transferred from Walls Walls, W. T., to the Golville reservation, to be tried by his own people. Two attempts to tire Eureka, Cal., were made Sunday morning. Severalattempts have been made lately. No clue can be found to the incendiaries. Daniel Malley, a miner, while attempting to board a freight train at Virginia, Nev., Saturday, was thrown under the wheels and seriously injured. Judge Willis, of San Bernardino, was seriously injured recently near Colton. He was driving under a low bridge, when a projecting belt struck his head. James Anderson, A Campbellite preacher of Santa Rosa, dropped dead last Sunday night while delivering a sermon at Cloverdale. Heart disease was the supposed cause of his sudden demise. The belief is expressed in the notes to the "Consuls Reports" for April that the gold fields of Siberia are a second California, but need American push and energy to develop them. For 1883 the mines produced $1,000,000, miserably worked as they were.

6. May 26, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, May 26, 1884

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About 73 per cent. were those of small traders whose capital was less than $5,000. The following were the important suspensions during the week: W. B. Scott & Co., bankers and brokers, C. McCulloch, Beecher & Co. and Benner & Pinkney, shipping and commission, New York city; Planters and Mechanics' Bank, Petersburg, Va.; Brennan & Co., bankers, Charlottesville, Va.; Ellett, Drewry & Co., wholesale dry goods, and S. Blanchard, wholesale grocer, Richmond, Va.; Erie County Savings Bank, Erie, Pa.; L. F. Phelps, banker, Westfield, N. Y. In the principal trades they were as follows: Grocers 25, general stores 23. shoes 12, clothing 12, liquors 12, manufacturers 10, tobacco and cigars 7, millinery 6, drugs 5, dry goods 5, jewelry 5, grain and flour 4, hotels and restaurants 4, stationers, etc., 4, oil brokers 4, bankers 3, banks 3, stockbrokers 3, carriages and wagons 3, coal and wood 3, commission 3, fancy goods 3, hardware and agricultural implements 3, oils and paints 3, produce and provisions 3, brewers and maltsters 2, furniture 2, hats and caps 2, hides and leather 2, harness 2, lumber 2, men's furnishing goods 2, rubber goods 2, shipping and commission 2. FLORIDA. Jacksonville.-H. Weiskoff, paints, asks an extension. GEORGIA. Darien.S. Steinshine, general store, assigned. Macon.-R. B. Evans, grocer, sold out. SOUTH CAROLINA. Florence.-C. Phillips & Son, general store, offer 30 cents. Liabilities $15,930; assets $14,775.

7. June 11, 1884 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, June 11, 1884

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Petersburg Bank. The Attorney-General yesterday moved the City Circuit Court for judgment against the Planters and Mechanics Bank of Petersburg and its sureties for money due the State, and there deposited at the time of the bank's suspension. Counsel for defendants pointed out that in the notices served on the various parties interested one stated the amount due at $135,000, another at $130,000,and in another notice the amount was left blank. These were errors of his clerk, Mr. Blair explained. They pointed out also other objections, and ask that the Attorney-General state more particularly his demand. For that purpose the case was continued until tomorrow morning.

8. June 13, 1884 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, June 13, 1884

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The Planters and Mechanics Bank, of Petersburg. The Attorney-General Tuesday moved the City Circuit Court for judgment against the Planters and Mechanics Bank of Pe. tersburg and its sureties for money due the State and there deposited at the time of the bank's suspension. The matter was postponed until yesterday, when the case was argued before Judge Wellford by Messrs. Budd, Davis, and McKinney for defendants, and Messrs. Stringfellow and Pegram on behalf of the Commonwealth, Attorney-General Blair having been called away by the sudden and serious illness of his wife. After hearing argument the Court quashed the motion in the cases of H. B. Parker, John C. Drake, J. T. Young, and the bank, on the ground of insufficient notice. In the cases of G. B. Eanes, B. A. Davis, and George Perkinson, other sureties for the State's deposit in the bank, judgment was entered for the full amount deposited, $135,373.35 and costs. It is understood that proper notice will be served at an early day on the sureties released this time by reason of insufficient notice.

9. June 13, 1884 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, June 13, 1884

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# THE PLANTERS' AND MECHANICS' BANK OF PETERSBURG. The Attorney General, Tuesday, moved the City Circuit Court for judgment against the Planters' and Mechanics' Bank of Petersburg and its sureties for money due the State and there deposited at the time of the bank's suspension. The matter was postponed until yesterday, when the case was argued before Judge Wellford by Messrs. Budd, Davis and McKinney for defendants, and Messrs. Stringfellow and Pegram on behalf of the Commonwealth, Attorney General Blair having been called away by the sudden and serious illness of his wife. After hearing argument the Court quashed the motion in the cases of H. B. Parker, John C. Drake, J. T. Young, and the bank, on the ground of insufficient notice. In the cases of G. B. Eanes, B. A. Davis and George Perkinson, other sureties for the State's deposit in the bank, judgment was entered for the full amount deposited, $135,373.35 and costs. It is understood that proper notice will be served at an early day on the sureties released this time by reason of insufficient notice. Rich. Dispatch of to-day.

10. July 19, 1884 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 19, 1884

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THE STATE AT LARGE. PETERSBURG AND VICINITY. The Planters and Mechanics Bank; The Grand Jury Investigating the Causes of Failure: Great Interest in the Community. [Correspondence of the Richmond Dispatch.] JULY 18, 1834. It was intimated in this correspondence several days ago that the grand jury would probably undertake the investigation of some matters of very important local interest. This statement is confirmed by the fact that the grand jury has been all day investigating the causes which led to the failure of the Planters and Mechanics Bank, with the view of ascertaining whether criminality attaches to any one in the management of its affairs and settingal rest the damaging rumors that have long been affoat in the city in reference to the management of that institution. When the grand jury met this morning at 11 o'clock a number of witnesses were sworn and sent before them to testify in reference to the matter. About 12 o'clock, while the trial of Thomas J. Davis for the killing of John Ditmar was in progress, the grand jury came into the court-room. and on being asked if they had any presentments to make the foreman. Mr. Hugh R. Smith, addressing the Judge, said that during the examination of a witness the attention of the grand jury was called to the existence of a paper hearing upon the partial examination of the affairs of the bank in 1874 which it was deemed important to have In evidence. It was ascertained that this paper was in the possession of Mr. W. L. Watkins. A request was sent to that gentleman for the paper. but he declined to surrender it. The grand jury. therefore, asked the Court what should be done in the matter. Mr. Watkins. who was in court. read the note that he had received from the foreman of the grand jury, and on being sworn stated that the paper referred to as in his hands is in his possession as counsel for two well-known gentlemen, and is regarded as of the most material importance in a suit It proposed to bring, involving a large amount of money. He considers the possession of this paper a sacred pledge, and believes that if it should be made pubat this time it would seriously prejudice and damage the case. Mr. Watkins disclaimed any intention to disobey the orders the grand jury. or to show any want of respect for that body. The foreman (Mr. Smith) said it was understood that the paper in question had been obtained by Mr. Watkins from Mr. T. Patteson, & witness before the grand jury, whose property it was supposed be. At this point Judge Mann said the Court in the midst of thetrialof an important involving capital punishment, and he could not allow the trial to be suspended go into a hearing of the question raised the grand jury. That could be settled another time, and meanwhile the grand jury could return to their room to proceed with the examination of other witnesses, the investigation of other matters before them. The grand jury thereupon retired. and question of the surrender of the important paper in question was laid over settlement hereafter. The matter will loubtless be argued at some length, as it involves some interesting points. The court-room crowded at the time. the attention of every person present for the while turned from the trial of the Davis case to the point raised by the grand jury. At 21 o'clock the jury were adjourned until 44 o'clock, when the investigation will resumed. It is hardly probable that any presentments will be made, or any report submitted for several days. It designed to examine all witnesses who can give the grand jury any information, and to make the investigation as rigid as possible. The action of the grand jury in this mathas created a genuine commotion in the and the result of the investigation is waited with intense interest. It is underfood that the paper above referred to isan ibstract of a partial examination of the at. of the bank made in 1874, which was satisfactory to some of the directors, who resigned in consequence. The Hustings Court has been engaged all Jay in the trial of the case of the Commonwealth US. Thomas J. Davis. indicted for the murder of John Ditmar several months The peculiarity about this case is that there were no witnesses to the beginning the unfortunate difficulty. Davis at the time was employed as signal-man on the connection track of the Petersburg railroad, the intersection of the Norfolk and

11. August 6, 1884 The Home Journal Winchester, TN
Article from The Home Journal, August 6, 1884

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- Mayor Smith. of Philadelphia, has asked the Councils for $10,000 to enable the Quaker City to make a good showing at the New Orleans Exposition. --The defunct Manufacturers' Bank, of Milwaukee, offers twenty-five cents cash, and seventy-five cents in equal payments at one, two and three years. -The Grand Jury of Petersburg, Va., have I not concluded their inquiry into the failure of the Planters' and Mechanics' Bank. -Green's Bank, at Jackson, Miss., makes an excellent showing by the receiver's report,

12. August 8, 1884 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, August 8, 1884

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sente [Correspondence of the Richmond Dispateh. PETERSBURG, August 7. 1884. On the morning of Monday. May 19th. elec. before the municipal Just three the Planters days and Mechanics Bank, of this city. tion. closed its doors and suspended business. There had been run on the bank have on which would the Saturday previous, was on Monday but that been continued suspension. Comeffectually stopped by the paratively few of the depositors, however, had drawn out their funds. great suspension of course caused were deal The of excitement in the community. surprised- The The great body of the failure people was looked upon astonished. It was given out coming a disaster the bank that the from the officers of and WAS only temporary, This suspension that the bank would pay feeling out. pacified public to statement rumors but there were vague some extent. to the effect that the bank in circulation the core, that there had was rotten of checking, with been a vast amount loans, little security to guarantee the money but really there was but little in and that the vault of the bank. Rumors went left so far as to give the names in of many busipersons, more or jess prominent inoness and society, who had thus drawn ney from the bank. AN ASSIGNMENT MADE. On Tuesday morning the 20th the dit of the bank made an assignment Gil. rectors W B. Mellwaine and Robert Messrs. Irm. Jr. trustees. The deed was a gene equiplacing all creditors upon an ral one. footing, and giving preference table This assign ment gave rise to vigor- in one. and confirmed the public ous opinion comment. that the affairs of the bank inextri- had the been badly manage d. and were cably mixed The State had on deposit in and the West- bank $135,000 and the Norfolk about crn Railroad Company about $18,000. numerous. The indi vidual depositors were very ACTION OF THE CREDITORS. of the tended meeting On the night of the 23d of creditors May largely of the stor! holders ank-depositors and such held in Mechanies' Hall to take for the promight be decined necessary tection of their inte for pted the Resolution five cointment of no in book way connecte with that ith the bank, expert in of and bank idends divi and the bank committee amine Board minutes the the report M: Grs cCandlish the of W feditors. known. will be held THE TAKES MATTER HE GRAND JURY HAND. the On the third Thursday in July met Court ings of charge Mann grand Judge shile not directing Me end Bank. and 80 pointed. the in be no mistake he manage Lished that The grand ent body of Hugh citizens John John Ford. Griffin. Cain. John Bridgers Aug. Wright Thrift, Bailey, D. Jame Bowie, starke, Badger, Blick, and After view reports publicly should placing criminality where belonged THE The and clock At 12 address follow nd submitted st of presentments TO GRAND JURY the To H Judge The Hono their body May, In grand of negligent deand of ositors bank the find could other bich could proceedings, the which ave been now the ury this that fact ention Hono your bake this feel they owe to the perwhich they the public genuly and to and Je has of Petersburg been the loss rally As great of this bank jury which the failure the the intailed upon the indirectly upon ositors directly, and confidence in the of our ity bank State ublic by impairing places of deposit will in the end directing the it money. serve the purpose to of to the eneral Assembly SOOD the existing laws of censity of amending rulating banking inbetter be ations. Commonwealth with view to W recuring ith more strinsection to depositors. our statuteent laws than those now of of things such condition of the grand ury to invo estigate has been the duty at the present of would court TIII your Honor's no rare. If. hand, other the on

13. August 16, 1884 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, August 16, 1884

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PETERSBURG AND VICINITY. Delegates to the Virginia Conference-The Special Election for Assembiyman-A Large Anti-Brady Meeting. [Correspondence of the Richmond Dispatch.) PETERSBURG, August 15. 1884. At the session of the Petersburg District Conference at Jarratt's Depôt yesterday the following lav delegates to the Virginia Annual Conference were chosen: John W. Bradbury, J. J. Ivey, J. A. Winfield, and W.H. Wheary. Addresses were delivered during the day by Rev. Dr. Edwards and Rev. S. S. Lambeth. In the Mayor's Court this morning the case of Mack Gilliam (colored). who has been in jail since the 22d of July, charged with being an accomplice in the burning of the peanut-factories on Lombard street, was called for examination. The evidence failed to connect him with the arson, and he was discharged. At a meeting of the two Executive Committees of the Republican party held 10 the court-bouse last night Dr. David F. May was nominated for the House of Delegates to fill the vacancy from this city. It is understood that Mr. James M. B. Steward will run as an independent candidate against the Republican nominee. A political meeting, very significant in point of the number present, was held here last night. It was gotten up quietly by the anti-Brady wing of the Republican party, and addresses were delivered by Senator Gaines, Congressman Hooper. and several colored speakers-all of whom, except Senator Gaines, announced themselves as candidates for Congress. The contest among the Repubheans for the nomination is growing very interesting, and should the opposition combine against Colonel Brady it is thought there would be very little doubt of his defeat in the Convention. The meeting last night was attended by fully five hundred persons. and the cheering of the crowd could be heard all through the city. It is said that the opposition to Colonel Brady is not so much on personal grounds as because he IS looked upon as the representative of machine methods. of which the people are growing tired. It is reported that in the large upper counties of the district the machine" has few friends. It is furthermore said that while the colored people generally favor a colored congressman, their strength 18 divided among several aspirants, and will probably be centered upon no particular one, and this fact may defeat their objects in the end. Captain B. J. Epes, who was yesterday nominated for judge of Dinwiddie county, is a prominent lawyer, very popular among his people, and will grace the bench. Warrants were this morning issued for the arrest of two white men who are charged with breaking into the house of Jane Lessenbury last night. The woman shot at them with her pistol, and was subsequently knocked down and her pistol takenaway. As the noon train for Richmond was ap. proaching the southern depôt to-day, the engine jumped the track near the junction of Sycamore and Washington streets, where there is a sharp curve in the road. A delay of fully an hour occurred before the engine could be gotten back. At the instance of the State, which had $135,000 in the Planters and Mechanics Bank, processes have to-day been served upon several of the late directors of that bank requiring them to appear before a proper officer to answer the usual interrogatories to be propounded in such cases. ROBIN ADAIR.

14. August 18, 1884 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, August 18, 1884

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# VIRGINIA NEWS. Virginia Martin, colored, has been sent to the grand jury, charged with burning the barn of Carr B. White, in Fauquier county, on Thursday. The common council of Warrenton have in contemplation the erection of a large reservoir upon Lee's ridge, a mile from town, to be supplied by water forced from Kettle run with which to supply the town. The State is pressing its claims against the Planters and Mechanics' Bank, in which, at the time of the failure, it had a deposit of $135,000 and suit is to be brought at the next term of the Hustings Court of Petersburg to upset the deed of assignment made by the board of directors and to make the State a preferred creditor. At the instance of the State, several of the late directors, who made assignments of their property, are to be subjected to interrogatories under oath as to the disposition of that property. On Saturday night, as the Philadelphia and Norfolk freight train was coming over the new road in Accomac county, near Guilford, it ran from the track, injuring the engineer, a brakeman, and badly mutilating the leg of a colored man. It was discovered upon examination that some malicious person had taken up a part of the road. In the neighborhood there is a very strong feeling against the road from the fact of its turning all the farmers' cattle and hogs upon the commons, and the authorities seem to take no precaution to remedy this.

15. August 22, 1884 The Times Owosso, MI
Article from The Times, August 22, 1884

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No one can be ill if the blood is pure, Yellow Dock and Sarsaparilla have long been rcognized by physicians as a blood purifier. Don't be humbugged by the advertisements of the many quack nostrums, but occasionally use Dr. Guysott's Yellow Dock and Sarsaparilla, and you will live to a good old age. Many of our best citizens who suffered from bad blood indicated by weak kidneys, indigestion, ets, owe their recovery to this remedy. The French Government has decided to introduce a bill in the chamber of deputies providing for the taxation of imported cereals and cattle. A chronic rheumatism which has paining and disturbing a system of ten years is a mighty ugly enemy to attack. It is like a fiend behind a barricade-hard to hit and harder to dislodge. But Athlophoros don't seem to fear even such a desperado. It works its way into his fastness in the system, and ousts him without ceremony. Says Mr. H. Charley, Muskwonago, Wis.: "My brother has been taking Athlophoros for chronic rheumatism of ten years standing. It is doing all you claim. His pain is gone, and his limbs are warm and lifelike. Owing to a determined run on all the financial institutions at Petersburg, Va., the Planters' and Mechanics' Bank closed its doors, with a promise to attempt payment in full. Dr. Henry Baxter's Mandrake Bitters are purely vegetable, the product of the hills and valleys, they are natures own restorer. Price 25 cents per bottle. Warranted to give satisfaction or money refunded.

16. August 28, 1884 Evening Star Washington, DC
Article from Evening Star, August 28, 1884

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The Petersburg, Va., Bank Failure. RESULT OF THE LEGISLATIVE INVESTIGATION-THE GROSSEST MISMANAGEMENT ALLEGED. In the Virginia house of delegates yesterday Mr. Pollard, chairman of the committee on finance, submitted their report on the investigation of the Planters and Mechanics' bank of Petersburg, which recently failed. The report says that the amount due the state on May 1, 1884, was $133,373. The committee find that the money of the state deposited in this bank was so mingled with other fundsfof the bank, and so used as to make it impos sible to ascertain the precise use made of the identical money so deposited. The books of the bank show that with a capital stock of only $119,550, the enormous sum of $111.810 had been drawn from the bank by overdrafts at the time the bank closed its doors, in addition to very large sums previously overdrawn by favorites of the bank, which had been covered by notes upon which no security had been required, and most of which notes are utterly worthless. Among the names of those upon whose checks the largest of these overdrafts were drawn are Stith, Bolling & Co., $19,000; William E. Cameron, governor, nearly $4,000; State Senator W. E. Gaines, $6,000; Inge Mahone, the latter the son of Gen. Manone, nearly $15,000; Gen. William Mahone, nearly $4,000; Thomas Whyte, cashier of the bank, $15,000, and R. A. Young, over $5,000. In addition to the amounts due the bank on account of overdrafts, there was $309,000 due on notes and bills receivable. Of these assets a very large proportion is represented by notes of persons hopelessly insolvent. and supported by no security or by insufficient security. Among these are Stith, Boiling & Co., call loan for $10,000; Gov. William E Cameron, sundry notes, $31,400; Iage & Mahone, $8,000; George Perkinson, over $5,000; Thomas Whyte, cashier, nearly $4,000. State Attorney General T. S. Blair, $1,300; J. C. Drake, $10,700; Davis, Drake & Co., $3,000; Stratton & Co., of which firm Edward Whyte is the only member, $58,000; C.W. Spicer, about $30,000. The committee say that Gov. Cameron and Gen. Mahone have paid the amount of their overdrafts to the trustees since the affairs of the bank have been placed in the trustees' hands. Senator Gaines has paid $4,000 of his overdraft of $6,000. Nothing has been paid on the amount due by Gov. Cameron upon his notes, aggregating over $30,000, but the trustees of the bank hold as collateral $50,000 of Southern Telegraph company bonds, worth perhaps $17,000, and fifteen shares of the stock of the Washington Improvement company of uncertain value. It is proper to say that these collaterals were considered at the time the loans were made to Gov. Cameron good for the amount of his notes, but have since greatly depreclated. The committee have not yet ascertained that any one is liable to criminal prosecution, and they conclude their report by alleging that the bank was run in the most shameless and profigate manner.

17. September 3, 1884 Evening Star Washington, DC
Article from Evening Star, September 3, 1884

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A LOVER'S FATAL JEST.-Miss Alice McCiban, of Cadiz, Ohio, was young, intelligent and a great favorite, but exceedingly nervous. She was engaged to a young gentleman named Nash, a restdent of the neighborhood, and a highly esteemed gentleman. Saturday evening he called on Miss McCiban and remained some time. When taking his departure, in jest, he said to her that he had concluded to sever their relations, and that there could be nothing between them but friendship. The girl was so affected that she went into spasms, which continued until her death Monday. Every effort was made to restore her to consciousness, unavailingly. Nash, who was frantic with grief, was constantly in attendance, but his presence had no effect upon the young lady. It is feared that he will become insane. A FOUL BLOW.-Tom Reese and Bill Davis fought yesterday near the Midvale colliery, at Plains, Pa., for $250 a side. After six rounds Reese struck his opponent below the belt, and the latter doubled up, falling to the ground, shrieking with pain. Those present thought the man was dying. The cry of "Police" was raised and the crowd scattered, leaving the injured man in the hands of his friends. THE PETERSBURG, va., BANK Surr.-Argument was had at Petersburg, Va., yesterday on a petition in the suit of the state VS. the Planters and Mechanics' Bank of Petersburg for a change of venue to the circuit court of Richmond. The court has reserved its decision until the September term, to be held on the third Thursday of this month. SUSPENDED BECAUSE THE EDITOR IS IN JAIL-The Gloversville, N. Y., Evening News suspended yesterday because the editor and proprietor, J. F. W. Ruttenber, is under arrest for complicity with J. Edgar Chandler in firing the Mohawk Valley Democrat office at Fonda, destroying $40,000 worth of property. Ruttenber is held in $10,000 bail. MURDER AT A CAMPMEETING.-Milton Wilson, colored, was arrested in Philadelphia yesterday for the murder of James Bevans at a colored campmeeting near Princess Anne, Somerset county, Md., on August 23. A brother of Bevans was also seriously injured by Wilson at the same time, and it is said his wounds may yet result in death. Emperor William, of Germany, has so far recovered from his recent fall that he yesterday reviewed on horseback the garrison at Berlin. The third annual meeting of the national association of stationary engineers met in Baltimore yesterday. Tw 0 young men on Monday advertised a show of ventriloquism at Doylestown. Pa., and collected a large crowd of school children. The show proved a fraud, and the children rotten-egged the performers out of town. Samuel Lowden, a New York bufider and contractor, is said to have fied with about $30,000 cash, leaving $50,000 in debts. The Saratoga County National Bank, of Waterford, N. Y., is about to close up business. The stockholders and depositors will be paid in full, with a dividend to the former.

18. September 3, 1884 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, September 3, 1884

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THROUGH THE STATE. PETERSBURG. The Planters and Mechanics Case-The Petitions of the State and the Sureties-Arguments as to the Jurisdiction of the Bustimes Court. [Correspondence of the Richmond Dispatch.] SEPTEMBER 2, 1884. The Hustings Court to-day took up the case of the Planters and Mechanics Bank. It being understood that the question of the jurisdiction of the court would be raised and argued, nearly all the members of the bar were present to hear the speeches. Captain John Lyon, of Richmond, of counsel for Mr. Benjamin A. Davis and George E. Perkinson, called the attention of the Court to the petition of those gentlemen to be made a party defendant in the suit of Williams and others against the Planters and Mechanics Bank. The petition sets forth in full the ground of this application. The petitioners are the only two surities on the bank's bond to the State who were not directors of the bank, and in no wise responsible for its management. They have large interests in this suit, and ask leave to tile their answer. Major Stringfellow, of Richmond, asked leave to file the petition of Treasurer Barksdale. The petition sets forth in full the claim of the State and the grounds upon which It is asserted. It asks that the State be made a party defendant to the suit of Williams and others against the bank; that the cause be transferred to the Circuit Court of Richmond: that the Court will declare the deed of the 19th of May. made by the directors of the bank, null and void; and that a receiver be appointed to collect all moneys due the bank and apply them to the payment of the State's claim, for which priority over all other claims is alleged by reason of judgment and execution. which have been obtained. and which are now in the bands of the Sheriff of Richmond. Major Stringfellow declared there was no design to gain any advantage by the removal of this cause to Richmond. The facts are that the Attorney-General and Treasurer of the State reside in Richmond, and that as 4 matter of public policy and public convenience the cause should be removed there. He then read the sections of the law under which the motion for transfer was made. He ably argued the question at length, and was heard with great interest. Mr. GeorgeS Bernard asked leave to file a petition in behalf of the Norfolk and Western Railroad Company, praying the Court to take cognizance of the pendancy of the suits of the company, the Citizens Bank of Blacks-and-Whites, and the Union Bank of New York against the bank. in which the validity of the deed of assignment is questioned, and for whose claims judgments and executions havebeen obtained. These suits will mature at the October term of the court. Captain Lyon, of counsel for Messrs. Davis and Perkinson, concurred in the argument of Major Stringfeliow in favor of the removal of the cause to Richmond. R. T. Wilson, representing the general creditors of the bank. utterly denied the allegation of fraud made in the State's petition. He asserted that the Commonwealth is a party plaintif. and of its own choosing. In the suit of Williams and others the State came in and regularly proved its claim. Conditionally or unconditionally, the Commonwealth is a party plaintiff in this cause. Being such, will the Court make the State a party defendant for the purpose of ousting the jurisdiction of the Hustings Court? This suit was not brought to affect any claim of the Commonwealth. and the State was made a party plaintiff therein. Mr. Wilson argued at length

19. October 14, 1884 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, October 14, 1884

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THE STATE AT LARGE. PETERSBURG AND VICINITY. A snuff Factory Burned-Loss and Insurnace-Political Notes-Meeting of Creditors. |Correspondence of the Richmond Dispatch.] PETERSBURG. Va., October 13, 1884. Between 11 and 12 o'clock on Saturday night the suuff factory belonging to Messrs. A.J. Campbell & Co., located in Dinwiddie county about one mile west of the city, was set fire to by some unknown person, and was totally destroyed, with all of its contents. The first Intimation the watchman had of the fire was the sight of the building in flames. The Messra. Campbell are young Englishmen, who have been residing here only a few years. They bad recently enlarged their factory. and introduced new and improved machinery. Their loss on stock is as follows: 75,000 pounds leaf tobacco, valued at 83.750; 30,000 pounds of ground snuff, worth $2,700; 40,000 pounds of stems. $300; 12,000 pounds flavorings, 8300; total on stock, $7,050. on which there is no insursuce. The building and machinery were valued at $6,800. On these there is sn insurance of 8750 on the building in be Phonix Company, of London. and $1,200 on the machinery in the Commercial Union, of London. Within the past few months the amount of insurance on the property bad been reduced. The loss above insurance is $11,950. The factory employed twenty hands. It will be rebuilt at onee. Several very excellent tracts of land in Dinwiddie county, more or less distant from Petersburg, were offered at auction on Saturday, but the prices bid were not satisfactory and they were withdrawn. The Republicans of the Brady faction are making efforts, by personal canvass and otherwise, to secure a big audience for Senator Plumb and Mr. Schoonmaker on Wednesday night. They are holding meetings In one or another of the wards nearly every night, with the view of keeping alive the interest in the canvass. The Evans men are doing the same thing. and an evening or two ago, with very little notice, they had N meeting of one thousand voters to hear their speakers. Within the last two or three days a number of Republican politicians have been in this city. The object of their assembling here is not known. A call has been published for a meeting of the creditors of the broken Planters and Mechanics Bank and of citizens interested in the matter, to be held to-night at the court-house to decide whether or not counsel shall be employed to assist the Commonwealth's attorney in the prosecution of the officials of the bank who have been presented by the grand jury, as well as to assist in other matters which involve the interests of the creditors. The matter has caused considerable comment on the street. The Hustings Court will meet on Thursday of this week. and all the cases, both criminal and civil, connected with the bank are expected to come up at this term. All the officials who have been presented have employed counsel to defend them in court, and each and every one at them, it is said, feels confident of an acquittal. Probably no cases in the eriminal annals of our city will excite more interest in the community than these. On account of the publicity that has been given them it is thought there may be some difficulty in obtaining juries in the city, One of the first and most important of the civil cases in connection with the suite against the bank to be de-

20. February 10, 1885 Savannah Morning News Savannah, GA
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VIRGINIA'S DEFUNCT BANK. Judge Mann Declares Valid the Deed Made by the Directors Last May. PETERSBURG, VA., Feb. 9.-In the Hustings Court to-day Judge Mann rendered his opinion as to the validity of the deed made on May 19 last by the directors of the defunct Planters' and Mechanics' Bank. The deed was assailed by the State of Virginia, which had on deposit in the defunct bank $130,000, and by the Union National Bank of the city of New York, and other judgment creditors. Judge Mann renders the opinion that the deed is a valid one, and decrees that the funds now in the hands of the trustees of the bank be distributed pro rata among the creditors. The trustees have on hand $90,000, sufficient to pay creditors a dividend of 20 per cent. The petition of J. R. Wagesdale, Treasurer of the Commonwealth of Virginia, which has been treated as a cross bill, IS dismissed, and the demurrer to the bill of the Union National Bank of the city of New York is sustained. The counsel for the State asked for a suspension of the order with a view to taking an appeal to the Supreme Court of Appeals, which was granted.

21. February 13, 1885 Savannah Morning News Savannah, GA
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TRIPPED UP BUSINESS MEN. No Appeal in the Virginia Bank CaseWard Again Indicted. PETERSBURG, VA., Feb. 12.-In the Hustings Court to-day Judge Mann handed down his opinion in the case of the suit of the State of Virginia against the Planters and Mechanics' Bank, and, as it appears from the opinion that no suspending order was asked by the counsel for the State, no appeal will be taken to the Supreme Court of Appeals. The trustees of the bank will execute the order of the court as soon as practicable, probably within the next 30 days. The trustees have on hand about $90,000, which is sufficient to pay a dividend of 22 per cent. to the creditors. ANOTHER INDICTMENT AGAINST WARD. NEW YORK, Feb. 12.-The United States grand jury brought in another indictment against Ferdinand Ward, the former partner of Gen. Grant, for crookedness in connection with the Marine Bank. The court issued another bench warrant for Ward. The latter is still in custody in Ludlow street jail under another indictment.

22. February 13, 1885 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, February 13, 1885

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VIRGINIA NEWS. The Conference of School Superintendents in session in Richmond are in favor of paying school trustees a per diem. The conference also adopted a resolution memorializ ing Congress to pass the Blair educational bill now before the House of Representa. tives. Mr. John Pad. Reumond, for many years a prom inent business man of Norfolk, died yesterday after a lingering illness. He was sixty-eight years of age, a native of the New England States, but had resided in Norfolk since his early manhood. He was prominently identified with Masonry, being a Knight Templar and a thirty second degree Mason. The Auditor of the State has declined to accept coupons in payment of taxes in compliance with the decision rendered by Judges Bond and Hughes, of the United States Circuit Court, at Norfolk. His reasons for refusing to do 80 are that he has not yet been served with the order of the court, and because a law of the State requires that all revenues shall be paid into the banks designated as State depositories. In the Hustings Court of Petersburg yesterday, Judge E. M. Mann handed down his opinion in the case of the suit of the State of Virginia against the Planters and Mechanics' Bank, and as it appears from the opinion that no suspending order wasasked by counsel for the State, no appeal will be taken to the Supreme Court of Appeals. The trustees of the bank will execute the order of the court as soon as practicable, probably within the next thirty days. The trustees have on hand about $90,000, which is sufficient to pay a dividend of 22 per cent. to the creditors.

23. February 13, 1885 Richmond Dispatch Richmond, VA
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The Petersburg-Bank Case. [By telegraph to the Dispatch.] PETERSBURG, Feb. 12, 1885. In the Hustings Court to-day Judge Mann handed down his opinion in the case of the suit of the State of Virginia against the Planters and Mechanics Bank, and as it appears from the opinion that no suspending order was asked by the counsel for the State, no appeal will be taken to the Supreme Court of Appeals. The trustees of the bank will execute the order of the Court as soon as practicable-probably within the next thirty days. The trustees have on hand about $90,000, which is sufficient to pay a dividend of 22 per cent. to the creditors.

24. February 14, 1885 Savannah Morning News Savannah, GA
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MERCANTILE COLLAPSES. Dun & Co.'s Report Affected by the Storm in the West. NEW YORK, Feb. 13.-The business failures throughout the country occurring during the last week, as reported to the mercantile agency of R. G. Dun & Co., number for the United States 239 and for Canada 31, a total of 270, against 346 last week and 354 the week previous. This large decrease is probably more apparent than real. Railroad and telegraphic communication in the West and Northwest has been so much interrupted by snow that doubtless many failures in remote localities have not been reported. FICTITIOUS PREFERENCES ALLEGED. Judge Ingraham, in the Superior Court to-day, rendered a decision, holding that the assignment of F. Mayer & Co. is null and void. The firm, which did a large wholesale clothing business in White street, was composed of Ferdinand and Benjamin Mayer, father and son. The firm failed in September, 1884, for over $2,000,000 and their actual assets were about $1,000,000. Both members of the firm have since been indited for perjury and are now out on bail. The assignment is set aside on the ground of the assignors having made fictitious preferences. A STORE CLOSED. YAZOO CITY, MISS., Feb. 13.-The store of Holmes & Fowler, general merchants, has been closed by attachment and a receiver appointed. The liabilities are $5,000. The assets are ample but not immediately available. THE 22 PER CENT. DIVIDEND. PETERSBURG, VA., Feb. 13.-The trustees of the defunct Planters and Mechanics' Bank will commence tomorrow the payment of the first dividend to the creditors of the bank. s dividend of 22 per cent. is to be paid to all who have proved their claims before the commissioners appointed by the court.

25. February 15, 1885 The Indianapolis Sentinel Indianapolis, IN
Article from The Indianapolis Sentinel, February 15, 1885

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CONDENSED TELEGRAMS. The Mayor of Collingwood, Ont, has volunteered to raise a colored regiment for active service in the Soudan. At Portland, Ore., three Senatorial ballote were taken yesterday. Hirsch received 29, a gain of 1; George received 14, Boise, 7. The trustees of the Petersburg, Va., defunct Planters' and Mechanics' Bank, to-day paid the depositors a dividend of 22 per cent. The trains on the Obio and Mississippi Railroad have been and are now running regularly on schedule time. No snow blockade on the road. James Kane, of Philadelphia, who was recently convicted of shooting and killing his brother, was brought into court yesterday and sentenced to death. The final match between the Montreal and Ottawa Curling Clubs, for the Governor General's medal, took place yesterday, Ottawa winning by four goals. Francis Baum, arrested at London, Ontario, on a charge of Jorgery committed at Dallas. Tex., has been remanded until Saturday next to allow of witnesses from Dallas. The new flint glass factory of King, Son & Co., of Pittsburg, which is the largest in the country, will start up on Monday. giving employment to over 250 men. Natural gas will be used exclusively.