Buckingham Bank (Buckingham, VA)

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Virginia News

The $25,000 Nor'olk and Western Railway station in Luray, which was destroyed by fire one week ago, will be rabuilt at once. Alexander J. Wedderburn, jr, of Fairfax county, has filed a suit for divorce against his wife Helen Pollock Wedderburg & non resident. A. R. Burnham, judge of the court of appeals of Richmond, Ky., was elected national comm tteeman by the Kentucky delegation st Chicago today, succeeding John W. Yerkes. The State Corporation Commission today rendered an opinion in which it sustains the application of the Bell Telephone Company in its demand t) increase the rates for the night service to the same as now charged for the day rate. Messr'. Davis & Davis, Washington patent ambrneys, repor the grant, this week, to citizens of this atate, of the following patents: L. B. Cox, of Norfolk, mail-bag deliverer; I. Peirce, of Tazewell, carbid-feeder for acetylene generators. Eighty-seven students were gradust d from the Washington and Lee University. The office of dean of the university was or ated, and Dr. Harry Donald Campbeli was elected to fill it. The degree of doctor of letters was conferred on Mr. John L. Williams, of Richmond, and that of doctor of laws on Senator Owen, of Oklahoma. The affairs of the Buckingham Bank are apparently much muddled. Cashier Allan K. Fawcette disappesred from his home at that place, Sunday alternoon. His wife, who is now in Buckinyham, knows nothing of his whereabouts. The shortage is estimated to be about $6,000. Judge Gordon has been sp. pointed a receiver for the institution. Tae plant and offices of the Richmond Stave Company were practically destroyed by fire which orginated on the third floor of the building last night The building covered an entire block in the heart of Richmond's business center and adjoined the $2,000,000 plant of the American Tobacco Company, whose private apparatus was kept constantly engaged entinguishing sparks which fell on the property. The loss is estimated at $200,000, with only $100,000 insurance. Two hundred employes of the company are temporarily out of work.

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FAWCETT'S FATHER WAS "THE SUICIDE" Buckingham Bank Directors Place Bank Assets in Hands of Judge Hall. BUCKINGHAM. VA., June 21.-It was stated in Friday's Times-Dispatch that it was not known whether D H. Fawcett, president of the Aberdeen Banking Company. of Aberdeen, Ohio, who committed suicide at that place, was related to Allen K. Fawcett, who was cashier of the Buckingham Bank. The suicide was father to the man, Allen K. Fawcett. The younger man left here on Sunday morning, and, it is said, he was in a very nervous state when he left, but his wife kept the bank open for two days before it was realized that the husband had absconded. Mrs. Fawcett was a Miss Stone, of Georgia, and she, with her baby boy and one of her sisters, are at home here. Mrs. Fawcett has made an enviable impression upon all who knew her here, and great sympathy is expressed for her in her sad situation. A romantic account of the marriage of this couple was published in The Times-Dispatch on the day young Fawcett reached here with his bride and it ran thus: Allen K. Fawcett as a very young man, had been introduced by letter to Miss Stone by a mutual friend, and after long exchange of sentiments on paper, exchange of photographs, etc., the couple met and the marriage soon followed. A fidelity company. of Baltimore, is on the cashier's bond for $10,000, and yesterday there was a meeting of the directors at the banking house, and Judge A. S. Hall, having been appointed as receiver of the bank, was put into possession of the assets, There is a very fine safe said to have cost $1,200.

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TRIED TO RAISE MONEY

Now Known That Fawcett Made Every Effort to Save the Bank. [Special to The Times-Dispatch.] BUCKINGHAM, VA., June 23.-A private letter received here states that after leaving here, Allen K. Fawcett went to Washington and then to some place in Pennsylvania in the effort to raise money to make good his shortage at the Buckingham Bank. There are two things that would tend to mitigate this young man's crime if he should ever be on trial in a court. One is that there was between $2,000 and $3,000 in currency in that bank that young Fawcett could have taken before he left if he had chosen, and another is that he did not have the deedato the property he recently purchased here made to his wife. telling her that he was in trouble at the bank. and if he was not able to make good the shortage he wanted the property held so that it could be taken by the directors of he bank. The placing of the bank into the hands of such a receiver as Judge Hall is, and the fact that the stockholders are men worth many times the amount for which the bank is liable. coupled with the fact that a guarantee company is on the missing cashier's bond for $10,000, has restored confidence, and men realize that they have only to wait until the money can pass into the hands of the receiver for them to get what is due them. Of course there was as usual a run on he bank until the ready cash on hand was exhausted, but notes held by the bank will be falling due at intervals and the other sources of assets will be made use of as promptly as possible. Meanwhile many inconveniences will be the result of the failure of the bank cashier to make good his shortage.