First National Bank (Portsmouth, VA)

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Former Owners of Bank Stock Claimed Liable Under Sale To Minors

J. A. Gamble, Washington receiver of the old First National Bank of Portsmouth has brought two actions In the Federal Court at Norfolk against former owners of First National stock claiming statutory liability under double sessment because stock they sold passed into registration at the bank in the name of minors. It has been held that who, after becoming of age, did not in writing acknowledge the registration in their name of the old First National Bank stock cannot now be held liable on double assess. ment. With this situation the closed bank receiver who cannot collect from minors is going back on the conditioned every inch of seller of the stock claiming liability, Settee and Club even though the seller might not have had that and Shade were placing the acquired stock in the name of minors. The cases against Portsmouth Open Saturday people will tried before Judge Luther B. Way in U. S. Court this Night Until 9 coming winter. The cases present a very inter esting point and would indicate that sellers of bank stock havCirculating ing double liability should be careful not to assign their stock blank for future registration Coal Heaters names of persons unknown to them.

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BAUMAN ESTATE RECEIVERS NAMED

Suit of Portsmouth Bank Brings Action By Judge Coleman.

Judge Frederick W. Coleman has appointed C. O'Conor Goolrick and S. Bernard Coleman receivers for the estate of the late P. K. Bauman as the result of a suit for $9,300 filed against the estate by Joseph A. Gamble, receiver for the First National Bank of Portsmouth. Executors of the estate are Charles F. Bauman, Kuszner Bauman and Albert R. Bauman, all sons of the decedent.

In a bill filed in Corporation Court the bank receiver sets forth that the $9,300 is due the bank from a 100 percent assessment against stockholders. The Bauman estate holds 93 shares of stock with a par value of $100. In answer to the bill the Bauman executors stated they were not advised as to their liability to the assessment.

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Two Bank Cases On U. S. Docket

Two of the cases involving stockholders of the closed First National Bank of this city are docketed for a hearing in the United States District Court in Norfolk tomorrow. These are styled Joseph Gamble, bank receiver, versus M. M. Parker and Minnie

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BANK CASES ARE CARRIED OVER

Two of the cases involving stockholders of the closed First National Bank of this city, which were docketed for action today in the United States District Court, were carried over until tomorrow.

The cases are styled Joseph Gamble, bank receiver, versus M. M. Parker and Minnie Parker.

A. E. Hopkins of the U. S. Bureau of Fisheries has discovered that oysters have three hearts.