Richmond Banking & Insurance Company (Richmond, VA)

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Richmond Banks in Tight Papers

RICHMOND, Va., Sept. 12.--The Rich -mond banking and insurance company has suspended. Fears are entertained for the solvency of the Planters' bank, whose president, John B. Davis is also president of the suspended institution, Davis re. signed the presidency of the Planters' this morning and its heavy depositors are rallying to its support.

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A Banking House Suspends

RICHMOND, Sept. 12.-The Richml Banking and Insurance Company has pended. Fears are entertained for the vency of the Planters' Bank, whose preside John B. Davis, is also president of the B pended institution. Davis resigned presidency of the Planters' this morn and its heavy depositors are rallying to support.

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Collapse of a Richmond Banking Co. RICHMOND, Va., Sept. 12.-The Richmond Banking and Insurance Co. this morning posted at their counter the following notice: "The President and board of direc ors are compelled to suspend business for the present. Trustees will be appointed, and it is confidently believed that depositors will receive dollar for dollar" JOHN B. DAVIS, (Signed) President.

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DOLLAR FOR DOLLAR

RICHMOND BANKING AND INSURANCE COMPANY SUSPENDS. The Causes of the Failure and How it Was Met-Deed - of Trust Made-No Preferred Claims-Planters National Bank Reorganized: C. E. Whitlock, President; J. B. Pace, Director.

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The Richmond Bank Failure

RICHMOND, September 14.-John B. Davis, President of the recently suspended Richmond Banking and Insurance Company, today made a deed of conveyance of his property in the counties of King William, New Kent, Hanover, Henrico and the city of Richmond for the benefit of the creditors of the bank. The deed is signed jointly by Davis and wife, and the properly thus relinquished is valued at over $200,000.

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VALUABLE PROPERTY SURRENDERED

RICHMOND, Va., Sept. 14.-John B. Davis, president of the recently suspended Richmond Banking and Insurance Company, to-day made a deed of conveyance of his property in the counties of King William, New Kent, Hanover and Henrico, and the city of Richmond, for the benefit of the creditors of the bank. The property is valued at over $200,000.

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Failure of Richmond Bank

RICHMOND, Va., Sept. 12.-The Richmond Banking and Insurance company suspended to-day. No statement of the condition of affairs could be obtained to-day. The amount of deposits are stated to be about $60,000, which includes $30,000 belonging to the state of Virginia, the bank being a state depository. The amount was secured by bond with good securities. The actual liabilities are put down at $607,000. Charles E. Whitlock was appointed trustee for the Banking and Insurance company, and it is probable that in a day or two a definite statement can be made. Whitlock believes depositors will not lose anythingexcept from delay. J. B. Davis, late president of the suspended bank, and Planters' National bank, is a brother of United States Senator Henry G. Davis, of West Virginia, and much sympathy is expressed for him. A slight run on the Planters' National bank, which began immediately upon the facts of the suspension being made public, continued until about 10 o'clock, when matters quieted down under the assurance that there was no cause for alarm.

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Bank Property Turned Over to the Creditors. RICHMOND, Va., Sept 14. John B. Davis, president of the recently suspended Richmond Banking and Insurance Co., today made a deed of conveyance of property in the counties of King William, New Kent, Hanover, Henrico and the city of Richmond for the benefit of the creditors of the bank. The property thus relinquished is valued at over $200,000.

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THE RICHMOND BANK SUSPENSION.

Mr. John B. Davis, president of the recently suspended Richmond Banking and Insurance company, yesterday made a deed of conveyance of his property in the counties of King William, New Kent, Hanover, Henrico and the city of Richmond, for the benefit of the creditors of the bank. The deed was signed jointly by Mr. Davis and wife, and the property thus relinquished is valued at over $2,000,000. Attorney-General Blair, of Virginia, has given notice that he will bring suit on the bond of $500,000, executed for the security of the state deposits in the suspended bank, which amount to about $300,000.

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PROVIDING FOR DEPOSITORS, RICHMOND, Va., Sept. 22.-A deed was exeented this afternoon by the friends of John B. Davie, president of the recently suspended Richmond Banking and Insurance Company, covering all of that gentle.

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An Honest Bank President RICHMOND, VA., September 23.-A deed was executed yesterday by the friends of John B Davis, president of the recently suspended Richarond Banking and Insurance Company, covering all that gentleman's indebtedness to the bank and securing to the depositors the full amount of their deposits. The deed is not yet recorded, but will be to day or Monday.

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The Richmond Bank Failure

RICHMOND, VA., September 23.-A deed was executed yesterday by the friends of John B. Davis, President of the recently suspended Richmond Banking and Insurance Company,covering all that gentleman's indebtedness to the bank, and securing to the depositors the full amount of their deposits. The deed is not yet recorded, but will be to-day or on Monday.

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-First ice of the season formed at Chicago Thursday night. -Six cowboys on one side and six cowboys on the other side fought a duel in Colorado Sunday. Four were instantly killed. -During an affray growing out of personal feud at Hot Springs, Ark., Charles Mathews, editor of a local newspaper was shot and killed. -J. D. Osborne, the surviving partner of Prentice, Henderson & Osborne, proprietors of the old Louisville Journal, died on Sunday at Louisville. -Col. E. Polk Johnson has accepted an invitation to make several speeches in behalf of the democratic nominee for Congress in the Third District. -The Court of Appeals has overruled the motion to dismiss the case against Henry White, of Lexington, charged with stealing bonds from a bank. -Mrs. Ellen V. Walton and the negro she hired to kill her husband have each been sentenced to imprisonment for life in the Indiana Penitentiary. -Nine men were publicly whipped at Newcastle, Delaware, Saturday morning. Two received forty lashes, six twenty and one ten. Three men stood in the pillory an hour. -A terrible accident occurred in the Fourth Avenue New York railroad tunnel on Friday. A "following" train collided with one preceding it, killing five people and injuring sixteen others. -Vice President Smith, of the Louisville & Nashville Railway System, makes the extraordinary statement that north-bound freight this year is in excess of south-bound - a desirable thing for the South. -A deed has been executed by the friends of John B. Davis, President of the suspended Richmond (Va) Banking and Insurance Co., covering all that gentleman's indebtedness to the bank and securing to depositors the full amount of their deposits. -Panama and Aspinwall have been attacked by what appears to be a chronic case of earthquakes. They have lasted since the 7th inst., and have caused a loss estimated at $250,000 in the first city and $100,000 in the latter. There have been four deaths. -A Washington rumor has it that the wedding of Mr. Chester A. Arthur, Jr., and Miss Crowley has been appointed for the early part of October. The bride and groom elect are extremely young, their combined ages not exceeding thirty-six years. -The Secretary of the Treasury has issued a call for the redemtion of bonds of the five-per-cent. funded loan of 1881, continued at three-and-a-half per cent. from August 12, 1881. The call is for $25,000,000 and principal and interest to be paid at the Treasury on the 23d of Dec. next and interest to cease that day.

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TOTICE TO THE CREDITORS OF THE RICHMOND BANKING AND INSUN RANCE COMPANY -Persons holding checks on RICHMOND BANKING AND INSURANCE the COMPANY. and those to whom certificates of deposit have been assigned. will please present without them the banking-house of said company at delay, in order that the necessary transfers may If made with the view to an early dividend. there be he any persons holding claims against the institution, not matters of record on the books, they will please present CHARLES them at E. once. WHITLOCK. Trustee.

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THE RICHMOND BANKING AND INSUNOTICE TO THE CREDITORS OF RANCE COMPANY.-Persons holding checks on the RICHMOND BANKING AND INSURANCE COMPANY. and those to whom certificates of deposit have been assigned, will please present them at the banking-house of said company without delay, in order that the necessary transfers may be made with the view to an early dividend. If there he any persons holding claims against the institution. not matters of record on the books, they will please present them at once, CHARLES E. WHITLOCK. Trustee. oe 11-2w

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MEETINGS

CLAY WARD ACTIVES, October 14, 1882. SPECIAL M EETIN G OF THE CLAY WARD ACTIVES will be held THIS EVENING at 7 1/2 o'clock at Oeters's Hall (upstairs), west Cary street. All members of the Club are expected to attend, and all Conservative voters of Clay Ward are earnestly requested to become active members of the Club. oc 14-1t P. 8. DERBYSHIRE, President. NOTICE TO THE CREDITORS OF THE RICHMOND BANKING AND INSURANCE COMPANY.-Persons holding checks on the RICHMOND BANKING AND INSURANCE COMPANY. and those to whom certificates of deposit have been assigned, will please present them at the banking-house of said company without delay, in order that the necessary transfers may be made with the view to an early dividend. If there he any persons holding claims against the institution. not matters of record on the books, they will please present them at once. CHARLES E. WHITLOCK, 11-2W Trustee.

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OTICE TO THE CREDITORS OF THE RICHMOND BANKING AND INSURANCE COMPANY-Persons holding checks on the RIO HMOND BANKING AND INSURANCE COMPANY. and those to whom certificates of deposit have been assigned, will please present them at the banking-bouse of said company without delay, in order that the accessary transfers may be made with the view to an early dividend. If there he any persons holding claims against the Institution. not matters of record on the books, they will please present them at once, CHARLES F. WHITLOCK Trance 11.2v

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THE CREDITORS OF THE BANKING AND INSUNOTICE TRUND RANCE COMPANY.-Persons holding checks on the RICHMOND BANKING AND INSURANCE COMPANY. and those to whom certificates of deposit have been assigned, will please present them at the banking-house of said company without delay, in order that the necessary transfers may be made with the view to an early dividend. If there he any persons horainz claims against the institution. not matters 01 100010 on the books, they will please present them a: onep. CHARLES E. WHITLOCK. Trest oe 11-2w

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NOTICE TO THE CREDITORS OF THE RICHMOND BANKING AND INSU+ NCE COMPANY.- Persons holding checks om the RICHMOND BANKING ANDINSURANCK COMPANY and those to whom certificates of doposit have been assigned, will please present there at the banking-house of stid company without delay, in order that the necessary transfers may be made with the view to ameans dividend If there he any persons holding exams against the institution. not matters 01 lecoto on the books, they will please present the atom CHARLES E. WHITLOCK oe 11-2w Trust

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Money Beyond Reach

Friday the safe lately belonging to the Richmond Banking and Insurance Company was taken out of the vault in the bank building and delivered to the purchaser. In taking it out some injury must have been done the massive door-frame of the vault, for when the door was once closed the next effort to open it was unsuccessful. In a vigorous effort to open it the lever was wrenched off. Then skilled workmen were called in, and were engaged until 104 o'clock Friday night trying to prize the door open, but wholly without success. All that could be done by the bank was to telegraph north to the manufacturer to send on a man to open it. In consequence of this accident the depositors who called yesterday to get the 75 per cent. now ready to be paid on their claims were disappointed. The money could not be gotten out of the vault. The delay, however, will be of brief duration. Depositors have not been in a hurry to call for their money anyway. Some who were clamorous for their own on September 12th (when the bank suspended) have not yet called to get their dividends. The trustee is prepared now to pay the two dividends of 50 and 25 per cent. The remaining 25 per cent. will be forthcoming before long, and the Richmond Banking and Insurance Company will have the proud record of being thesecond suspended bank in this country that paid out in full.

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Final Dividend to be Paid

About a year ago the Richmond Banking and Insurance Company. of which Mr. John B. Davis, of this city, was president, suspended payment. At first the failure of the bank caused a ripple of excitement in the city, but Mr. Davis stood at the counter and informed every one who came in that it was his intention to use bis utmost endeavor to have every dollar of the creditors and depositors paid. A statement to this effect was published at the time, and the sequel showsthat Mr. Davis has kept his word. On the 15th of this month the trustee announces that the final dividend of 10 per cent., and interest, will be paid to all the creditors of the Richmond Banking and Insurance Company. This will complete the payment in full of principal and interest to all depositors and creditors. This action on the part of Mr. Davis confirms the high opinion which the public has always accorded him, and presents him to the business community in a light that is enviable on account of its rarity.

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Dollar for Dollar

To-day the Richmond Banking and Insurance Company commences the payment of its final dividend of 10 per cent., which completes the payment in full to all its depositors, together with interest to date. Less than a year ago this institution was forced by a complication of circumstances to suspend payment, and on the day of its suspension the president and directors announced that every liability should be paid in full. The result shows that they were right, and can only increase the high opinion the community always had of the officers. Such an instance as a "broken" bank paying all its debts, with interest, is unknown in the history of banking, and goes to show the integrity of its management. It is now desirable that depositors should call at once for their money, so that the trustee may be able to settle his accounts and turn the affairs of the bank over to its proper officers.