Virginia Safe Deposit & Trust Corporation (Alexandria, VA)

Episode Information

Episode UID
1136796291332
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
113679629 hash
Start Date
December 29, 1910
Location
Alexandria, Virginia (38.818, -77.082)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5cc47e4db9d1b326

Response Measures

None

Description

The bank closed on December 29, 1910, due to insolvency and irregularities; while one article mentions a 'panic' among depositors, this refers to the reaction after the doors were already closed, not a pre-suspension run.

Events (3)

1. December 29, 1910 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Insolvency and irregularities; the president was later indicted and the bank was found to have received deposits while known to be insolvent.
Newspaper Excerpt
Virginia Safe Deposit and Trust Corporation, which closed its doors December 29, 1910
Source
newspapers
2. December 30, 1910 Receivership
Newspaper Excerpt
Judge Norton was appointed one of receivers of the trust company on the day following the closing of the doors, December 28th, 1910.
Source
newspapers
3. January 13, 1911 Other
Newspaper Excerpt
summon a grand jury for next Thursday morning in order that snch action as may necessary be taken in regard to the recent closing
Source
newspapers

Newspaper Articles (25)

Article from Alexandria Gazette, January 9, 1911

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City Treasurer Robinson. [Special Dispatch to the Gazetter] Richmond, Va., Jan. 9.-City Treasurer Robinson, of Alexandria, is deeply embarrassed by the failure a few days ago of the Virginia Safe Deposit and Trust Corporation. of Alexandria. At the time of the failure the treasurer had over $18,000 of the state's money on deposit with the defunct institution. Under the rules of the states auditor's office this money should have been transmitted to the auditor December 15th. The city treasurer delayed his settlement and in the meantime the Deposit and Trust Corporation was closed. Treasurer Robinson is personally reliable together with his sureties, Unfortunately, however, the failed institution was his surety as well as his banker. Besides depositing money as treasurer, Mr. Robinson had money on deposit in the bank as an individual. This private account he has assigned to the State. At the auditor's office there is no suggestion of doubt of the treasurer's honesty and good intentions.


Article from The Free Lance, January 10, 1911

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THE TRUST CORPORATION FAILURE There have been no developments during the past few days in the matter of the failure of the Virginia Safe Deposit and Trust Corporation. The receivers, examiners and clerks are still at work examining into the accounts of the parent bank and its several branches, the books of which have all been sent to Alexandria.


Article from Alexandria Gazette, January 13, 1911

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THE TRUST COMPANY'S FAILURE. Mr. Samuel G. Brent, Commonwealth's Attorney, today requested Judge Barley, of the Corporation Court, to summon a grand jury for next Thursday morning in order that snch action as may necessary be taken in regard to the recent closing of the Virginia Safe Deposit and Trust Corporation. Judge Barley accordingly ordered the jury to be summoned in order that the affairs of the corporation may be investigated. There are many rumors on the streets, some pointing to crimtnal prosecutions, but nothing definite is given out. Both the receivers, Judge Norton and Mr. J. S. Barbour, are out of the city today, and nothing could be learned from them as to the reports in circulation. The motion for the appointment of an additional receiver for the closed corporation, continued last Saturday, will be taken up again next week before Judge Barley; when, it is expected, the matter will be disposed of.


Article from The Richmond Virginian, January 13, 1911

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COUNTY MONEY TIED UP BY BANK FAILUER MANASSAS, VA., January 13.Speculation is rife Just now in the county as to just how the county finances will be affected by the recent suspension of the Virginia Safe Deposit and Trust Corporation in Alexandria. When the county treasurer qualified three years ago this company became his surety on his official bond. Since 'that time the treasurer has been keeping a part of the county funds on deposit with the surety company, and at the time of the suspension had on deposit with the company be-2 tween $8,000 and $9,000. The auditor of public accounts has sent out a circular letter, calling. attention to the necessity of the execu.


Article from Alexandria Gazette, January 16, 1911

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The Virginia Safe Deposit and Trust Corporation. [Special Dispatch to the Gazette.] Richmond, Va., Jan. 16.-That somebody will be tried under serious charges as the result of the failure of the Virginia Safe Deposit and Trust Corporation in Alexandria recently, is by no means an improbability. Clerks and others of the state corporation commission and State Exmainer Barksdale have been summoned to appear before the Alexandria Grand Jury which has been called to consider the failure of the bank. It is stated that notice was sent to officers of the institution some fifteen days prior to suspension of business directing that certain irregularities and errors be corrected before any further attempt was made to do business, and that two days after such notice was given that bank received deposits of money. Charge is made that the bank received deposits at the time when it was known that the bank was insolvent. This is unlawful.


Article from Alexandria Gazette, January 16, 1911

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FFICE OF THE VIRGINIA SAFE 0 DEPOSIT AND TRUST CORPORATION. ALEXANDRIA, VA. All persons having claims against Virginia Safe Deposit and Trust Corporation, or any of its branches, will please send the same, properly verified, to the receivers, as SOOD as possible, at Alexandria, Virginia, so as to participate in the first dividend declared. JOHN S. BARBOUR, J. K. M. NORTON, Receivers. jan12 2w


Article from Alexandria Gazette, January 18, 1911

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FFICE OF THE VIRGINIA SAFE O DEPOSIT AND TRUST CORPORATION, ALEXANDRIA, VA. All persons having claims against Virginia Safe Deposit and Trust Corporation, or any of its branches, will please send the same, properly verified. to the receivers, as soon as possible, at Alexandria, Virginia, so as to participate in the first dividend declared. JOHN S. BARBOUR, J. K. M. NORTON, Receivers. jan12 2w


Article from Alexandria Gazette, January 21, 1911

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FFICE OF THE VIRGINIA SAFE O DEPOSIT AND TRUST CORPORATION, ALEXANDRIA, VA. All persons having claims against Virginia Safe Deposit and Trust Corporation, or any of its branches, will please send the same, properly verified, to the receivers, as soon as possible, at Alexandria, Virginia, so as to participate in the first dividend declared. [JOHN S. BARBOUR, J. K. M. NORTON, Receivers. jan122w


Article from Alexandria Gazette, January 24, 1911

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FFICE OF THE VIRGINIA SAFE DEPOSIT AND TRUST CORPORATION, ALEXANDRIA, VA. All persons having claims against Virginia Safe Deposit and Trust Corporation, or any of its branches, will please send the same, properly verified, to the receivers, as soon as possible, at Alexandria, Virginia, so as to participate in the first dividend declared. JOHN S. BARBOUR, J. K. M. NORTON, Receivers. jan122w


Article from The Free Lance, January 24, 1911

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CHANGE IN RECEIVERS MADE Judge Louis C. Barley in Alexandria Saturday entered the order removing John S. Barbour from the receivership of the Virginia Safe Deposit and Trust Corporation and appointing Howard W. Smith receiver in his place. The order was held up for two days.


Article from Alexandria Gazette, January 25, 1911

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FFICE OF THE VIRGINIA SAFE DEPOSIT AND TRUST CORPORATION. ALEXANDRIA. VA. All persons having claims against Virginia Safe Deposit and Trust Corporation, or any of its branches, will please send the same, properly verified. to the receivers, as soon as possible, at Alexandria, Virginia, so as to participate in the first dividend declared. [JOHN S. BARBOUR, J. K. M. NORTON, Receivers. jan12 2w


Article from The Free Lance, February 16, 1911

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TO REPORT ON BANK FAILURE In Alexandria Corporation Court Judge Barley entered an order in the Virginia Safe Deposit and Trust Corporation case, appointing John M. Johnson special commissioner to make report on the affairs of the defunct concern. It was stated that this in no way interferes with the work of the receivers of the corpora tion.


Article from Alexandria Gazette, March 22, 1911

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TRUST COMPANY'S CONDITION. Report of the Receivers of the Virginia Safe Deposit and Trust Corporation Submitted to the Court-A financial Tangle-Shortage as Large as Supposed from the First, Messrs. J. K. M. Norton and How. ard W. Smith, receivers of the Virginia Safe Deposit and Trust Corporation, which closed its doors December 29, 1910, was filed in the Cor poration Court today. The fears of all interested in the concern are proven to have been well-founded, as from the exhibit and the observations of the receivers, the depositors are given but a faint ray of hope. In fact, the prospects of receiving anything in the way of deposits is, at present, far removed, and in all probabilily some interested will pay the debt of nature before the affairs of the institution can be placed in a condition for the payment of any dividend. The report, if published in full in the Gazette, would fill eight columns: hence a summary only as well as the conclusions of the receivers are printed. The laconic telegraphic dispatch sent from Alexandria to Leesburg in 1868 miving the


Article from The Free Lance, March 25, 1911

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VIRGINIA SAFE DEPOSIT REPORT Money Paid For Dividends Not Earned. Receivers Furnish Figures-Depositors May Lose All. Hope on the part of depositors in the Virginia Safe Deposit and Trust Corporation of Alexandria, which closed its loors Dec. 29 last, that they may recover at least a part of their savings, was dis: elled Wednesday when two reports were filed in the Alexandria Corporation Court. One report is signed y the receivers, Judge J. K. M. Nor ton and Howard W. Smith, and goes into the affairs in detail. A supplemental report was filed by Mr. Smith 48 one of the receivers, who deals with the method of declaring dividends that were apparently unearned. The burden of the blame for the collapse of the corporation is placed upon C. Jones Rixey, the president of the concern, now under indictment in connection with the failure, and the receivers include in their report the following summary of Rixey's transactions: FIGURES IN THE REPORT C. J. Rixey to Virginia Safe Deposit and Trust Corporation, Dr.: Notes of stock-


Article from Evening Star, July 30, 1911

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ALEXANDRIA AFFAIRS Work Begins Tomorrow on Boat Club Addition. WILL COST ABOUT $2,000 Receivers of Defunct Trust Company Recommend Payment of State's Funds in Full. Special Correspondence of The Star. ALEXANDRIA. Va., July 29, 1911. The work of erecting a frame addition to the clubhouse of the Old Dominion Boat Club, on the river front, will be begun by the contractors Monday next, and will, it is expected, be completed within the next month. The addition will cost $2,000 and will be of frame. It will be on the west side of the present structure and will be thirty by forty feet. Members of the club say that when completed the addition will give them a fine clubhouse. This addition will be used for winter festivities, including dancing. Owing to the limited space of the clubhouse it has. been impossible to have many social features during the winter months. Announcement is made that in order to save 15 per cent interest, allowed by the state statute on the deposits of Thomas W. Robinson, treasurer of the commonwealth, which had been deposited in the defunct Virginia Safe Deposit and Trust Corporation, the receivers of the concern have recommended to the corporation court of this city the payment of the state's money in full, amounting to about $19,000. J. K. M. Norton, one of the receivers, today gave out the following statement concerning the affair: "The commonwealth's judgment against Thomas W. Robinson, treasurer, for about $19.000, bears interest at the rate of 15 per cent a year. The commonwealth also holds assignment of Thomas W. Robinson's deposit of about $19,000, and, in addition, has a first lien on the bank building in Alexandria and a share of $12,500 of funds deposited with the state treasurer by the trust company. The commonwealth should receive a dividend on its judgment and also on Mr. Robinson's deposit, a total of 40 per cent, which would be payable August 1. Probably Will Pay. "To prevent the running of 15 per cent interest and for the benefit of other creditors, the receivers have recommended the payment of the commonwealth's claim in its entirety, and they will, in all probability, be authorized to do so. The receivers will be subrogated to all the rights of the commonwealth and will save 15 per cent on the large judgments. "The circuit court of Richmond already has entered a decree subrogating the receivers to the commonwealth's rights as to the $12,500 of funds deposited in Richmond, conditional entirely upon the corporation court of this city authorizing the receivers to pay the comonwealth in full." The work of remodeling the interior of the First Baptist Church is rapidly nearing completion and It is expected that the entire work will be completed by Saturday next. The work on the Sunday school room of that edifice was completed by the contractors, Howard & Harrison, several weeks ago, and the room is now being used by the congregation as its house of worship. It is expected that the new organ will not be completed until about September 1. Until the organ is ready it is not thought the services will be held in the auditorium. Checks to the depositors of the defunct Virginia Safe Deposit and Trust Corporation for 20 per cent of their deposits are ready for distribution, as heretofore stated in The Star, and will be mailed Monday evening to the depositors, numbering 6,000, in various parts of the state. The total which will be paid out is $108,000. The work of making out the checks was practically completed tonight. Church Services Today. The series of union services being held by several of the Protestant churches of this city during the summer months will be continued tomorrow night at the First Baptist Church. The services will be conducted by Revs. S. W. Rosenberger, pastor of the Methodist Protestant Church, and Rev. W. F. Watson, pastor of the First Baptist Church, the former preaching a sermon. At many of the other churches the pulpits will be filled by out-of-town ministers. At Christ P. E. Church Rev. Mr. Gibson of Strathblain will preach. The morning services at Trinity Methodist Episcopal Church will be conducted by Rev. Mr. Springer of Washington. Rev. D. A. Lambert of St. Elmo, Alexandria county, will conduct the morning services at the Mehtodist Episcopal Church South. "The Great Church" will be the subject of a sermon to be delivered by Rev. W. F. Watson at the morning services at the "irst Baptist Church. Rev. Dr. Thomas Gordon of Washington will occupy the pulpit at both services at the Methodist Episcopal Church At the Methodist Protestant Church at


Article from Alexandria Gazette, August 25, 1911

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R. F. KNOX, ACTIONEER Auctioneer Sale of the Bank Building belonging to the Virginia Safe Deposit & Trust Corporation, in the City of Alexandria, Virginia PURSUANT to the terms of a decree rendered by the Corporation Court of the City of Alexandria, Virginia, on the 26th day of June, 1911, in the chancery cause therein pending, entitled Thomas J. Fannon, et als., vs. Virginia Safe Deposit & Trust Corporation, the undersigned, who, by the terms of said decree, were appointed Special Commissioners for the purpose, will offer for sale at public auction, on the premises, on Saturday, September 9, 1911, at 12 o'clock Noon, that lot of ground with buildings and improvements thereon, including vaults and bank fixtures, situated on the north side of King Street, between Royal and Fairfax Streets, in the City of Alexandria, Virginia, BEGINNING at the west line of an alley 21 feet wide and distant 109 feet 5 inches east of Royal Street, and running thence west on King Street 35 feet; thence north 95 feet 5 inches; thence east 35 feet to the said alley; and thence south 95 feet and 5. inches to King Street, with all rights and appurtenances to the same belonging or in any wise appertaining. TERMS OF SALE: One-third cash, and the balance in six and twelve months, the deferred payments to be evidenced by the notes of the purchaser or purchasers, bearing interest at six per cent per annum, and the title to be retained until all the purchase money is paid, or, at the option of the purchaser or purchasers, all cash may be paid. Conveyancing at the cost of the purchaser or purchasers. Samuel G. Brent J. G. Hiden Howard W. Smith Gardner L. Boothe R. C. L. Moncure Special Commissioners of Sale. I, Nevell S. Greenaway, Clerk of the Corporation Court of the City of Alexandria, Virginia, do hereby certify that the bond with approved security, required by the above mentioned decree, has been duly executed. Given under my hand this 9th, day of August, 1911. Nevell S. Greenaway Clerk. Aug. 12th, t.d.


Article from Alexandria Gazette, August 26, 1911

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R. F. KNOX, ACTIONEER Auctioneer Sale of the Bank Building belonging to the Virginia Gafe Deposit & Trust Corporation, in the City of Alexandria, Virginia PURSUANT to the terms of a decree rendered by the Corporation Court of the City of Alexandria, Virginia, on the 26th day of June, 1911, in the chancery cause therein pending. entitled Thomas J. Fannon, et als., vs. Virginia Safe Deposit & Trust Corporation, the undersigned, who, by the terms of said decree, were appointed Special Commissioners for the purpose, will offer for sale at public auction, on the premises, on Saturday, September 9, 1911, at 12 o'clock Noon, that lot of ground with buildings and improvements thereon, including vaults and bank fixtures, situated on the north side of King Street, between Royal and Fairfax Streets, in the City of Alexandria, Virginia, BEGINNING at the west line of an alley 21 feet wide and distant 109 feet 5 inches east of Royal Street, and running thence west on King Street 35 feet; thence north 95 feet 5 inches; thence east 35 feet to the said alley; and thence south 95 feet and 5 inches to King Street, with all rights and appurtenances to the same belonging or in any wise appertaining. TERMS OF SALE: One-third cash, and the balance in six and twelve months, the deferred payments to be evidenced by the notes of the purchaser or purchasers, bearing interest at six per cent per annum, and the title to be retained until all the purchase money is paid, or, at the option of the purchaser or purchasers, all cash may be paid. Conveyancing at the cost of the purchaser or purchasers. Samuel G. Brent J. G. Hiden Howard W. Smith Gardner L. Boothe R. C. L. Moncure Special Commissioners of Sale. I, Nevell S. Greenaway, Clerk of the Corporation Court of the City of Alexandria, Virginia, do hereby certify that the bond with approved security, required by the above mentioned decree, has been duly executed. / Given under my hand this 9th, day of August, 1911. Nevell S. Greenaway Clerk.


Article from Alexandria Gazette, August 28, 1911

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R. F. KNOX, ACTIONEER Auctioneer Sale of the Bank Building belonging to the Virginia Gafe Deposit & Trust Corporation, in the City of Alexandria, Virginia PURSUANT to the terms of a decree rendered by the Corporation Court of the City of Alexandria, Virginia, on the 26th day of June, 1911, in the chancery cause therein pending, entitled Thomas J. Fannon, et als., vs. Virginia Safe Deposit & Trust Corporation, the undersigned, who, by the terms of said decree, were appointed Special Commissioners for the purpose, will offer for sale at public auction, on the premises, on Saturday, September 9, 1911, at 12 o'clock Noon, that lot of ground with buildings and improvements thereon, including vaults and bank fixtures, situated on the north side of King Street, between Royal and Fairfax Streets, in the City of Alexandria, Virginia, BEGINNING at the west line of an alley 21 feet wide and distant 109 feet 5 inches east of Royal Street, and running thence west on King Street 35 feet; thence north 95 feet 5 inches; thence east 35 feet to the said alley; and thence south 95 feet and 5 inches to King Street, with all rights and appurtenances to the same belonging or in any wise appertaining. TERMS OF SALE: One-third cash, and the balance in six and twelve months, the deferred payments to be evidenced by the notes of the purchaser or purchasers, bearing interest at six per cent per annum, and the title to be retained until all the purchase money is paid, or, at the option of the purchaser or purchasers, all cash may be paid. Conveyancing at the cost of the purchaser or purchasers. Samuel G. Brent J. G. Hiden Howard W. Smith Gardner L. Boothe R. C. L. Moncure Special Commissioners of Sale. I, Nevell S. Greenaway, Clerk of the Corporation Court of the City of Alexandria, Virginia, do hereby certify that the bond with approved security, required by the above mentioned decree, has been duly executed. Given under my hand this 9th, day of August, 1911. Nevell S. Greenaway Clerk. Aug. 12th, t.d.


Article from Alexandria Gazette, September 4, 1911

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R. F. KNOX, ACTIONEER Auctioneer Sale of the Bank Building belonging to the Virginia Gafe Deposit & Trust Corporation, in the City of Alexandria, Virginia PURSUANT to the terms of a decree rendered by the Corporation Court of the City of Alexandria, Virginia, on the 26th day of June, 1911, in the chancery cause therein pending, entitled Thomas J. Fannon, et als., VS. Virginia Safe Deposit & Trust Corporation, the undersigned, who, by the terms of said decree, were appointed Special Commissioners for the purpose, will offer for sale at public auction, on the premises, on Saturday, September 9, 1911, at 12 o'clock Noon, that lot of ground with buildings and improvements thereon, including vaults and bank fixtures, situated on the north side of King Street, between Royal and Fairfax Streets, in the City of Alexandria, Virginia, BEGINNING at the west line of an alley 21 feet wide and distant 109 feet 5 inches east of Royal Street, and running thence west on King Street 35 feet; thence north 95 feet 5 inches; thence east 35 feet to the said alley; and thence south 95 feet and 5 inches to King Street, with all rights and appurtenances to the same belonging or in any wise appertaining. TERMS OF SALE: One-third cash, and the balance in six and twelve months, the deferred payments to be evidenced by the notes of the purchaser or purchasers, bearing interest at six per cent per annum, and the title to be retained until all the purchase money is paid, or, at the 01 ion of the purchaser or purchasers, all cash may be paid. Conveyancing at the cost of the purchaser or purchasers. Samuel G. Brent J. G. Hiden Howard W. Smith Gardner L. Boothe R. C. L. Moncure Special Commissioners of Sale. I, Nevell S. Greenaway, Clerk of the Corporation Court of the City of Alexandria, Virginia, do hereby certify that the bond with approved security, required by the above mentioned decree, has been duly executed. Given under my hand this 9th day of August, 1911. Nevell S. Greenaway Clerk. Aug. 12th, t.d.


Article from Evening Star, November 14, 1911

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ALEXANDRIA AFFAIRS Case of Lewis Hooff Is Continued by Judge Barley. RIXEY CASE ALSO DELAYED Chamber of Commerce Appoints Committee to Attend Rivers and Harbors Congress. Special Correspondence of The Star. ALEXANDRIA, Va., November 14. 1911. Following arguments for a continuance, Judge L. C. Barley in the corporation court this morning continued the case of Lewis Hooff. former secretary and general manager of the defunct Mercantile Railway Building and Loan Association, until January 22 next. Hooff immediately renewed his bond in the sum of $10,000 for his appearance in court at that time. The principal ground for the postponement was set forth in an affidavit signed by Hooff, which sets forth that the report of the expert accountants, who are now going over the affairs of the institution, has not yet been completed, and It will be several weeks before it 18 completed. Arguments for a continuance were made by Hooff's attorney, John L Jeffries, Norfolk, Va., and Lewis H. Machen of this city. Commonwealth's Attorney Samuel G. Brent opposed a continuance. Nine indictments are pending against Hooff in connection with the collapse of the institution, being returned September 13 last. The Mercantile Rairway Building and Loan Association went into the hands of receivers January 12 last, about two weeks following the colapse of the Virginia Safe Deposit and Trust Corporation.


Article from Evening Star, February 12, 1912

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ALEXANDRIA AFFAIRS Future Disposition of C. J. Rixey Under Advisement. ORDER ISSUED BY COURT His Removal to Hospital for Insane Criminals Contemplated-General and Personal. Special Correspondence of The Star. ALEXANDRIA, Va., February 12. 1912. When C. Jones Rixey, the former head of the collapsed Virginia Safe Deposit and Trust Corporation. appeared in the corporation court at noon today an order was issued under section 1682 of the code on City Sergt. R. H. Cox, to make application to the asylum for the criminal insane for a place for Rixey at that institution, and pending action on the application by that institution Rixey was left in the custody of the sergeant. The latter had him transferred to the custody of Dr. J. W. Freed, assistant superintendent of the hospital at Staunton, Va., who will return with Rixey to that institution at 4 o'clock this afternoon. Prior to the arrival of Rixey in court his attorneys made a motion for a suspension of the order for his transfer to Marion, Va., and also a motion that he be admitted to bail. Both motions were overruled by the court. It is said to have been the purpose of his attorneys to apply for a writ of habeas corpus, had an order been made today committing Rixey to the Marion institution. Rixey was accompanied by Dr. J. W. Freed. He was met by his son, C. J. Rixey, jr., in the office of the clerk of the court, where the brief proceedings took place. Missing Man Found Dead. The body of Charles Travers, thirtytwo years old, was found at noon today at his home. 219 South Royal street, by Chief of Police Goods and a brother of the deceased. Robert Travers. Lying on a table beside the bed was an empty phial, which bore a laudanum label, and another phial, nearby, which was partially empty, contained carbolic acid. Dr. S. B. Moore, city coroner, said this afternoon that he would give a certificate of death by suicide. Travers has been missing since Thursday last. The doctor said this afternoon that he had evidently been dead since that time. The deceased is supposed to have brooded over the illness of his wife, who only recently underwent an operation at the Alexandria Hospital and who is still there, but is reported to be slowly recovering. The last seen of Travers was Thursday evening, when he visited his wife at that institution. Owing to his wife's illness she was not notified of her husband's death. Virginia District for Taft. With seventy-two delegates present, representing every county in the eighth congressional district, a republican convention convened here this afternoon in the Elks' Hall. Resolutions indorsing President Taft's administration were unanimously adopted by the convention. H. F. Dodge was chairman and J. W. Gregg served as secretary. Before adjourning this afternoon the convention will elect two delegates and two alternates to the national convention, which will be held in Chicago June 18 next; one presidential elector, a member of the state executive committee and will nominate a candidate for Congress. The convention is composed of delegates as follows: Alexandria city, 8: Alexandria county, 4; Culpeper, 4; Fairfax, 10; Fauquier, 6; King George, 4; Loudoun, 12; Louisa, 4; Orange, 2; Prince William, 6; Stafford, 12. Court Proceedings. Arguments will be heard in the corporation court tomorrow morning on the demurrer to the petition of C. M. Kemper and others in the suit of T. J. Fannon and others against the Virginia Safe Deposit and Trust Corporation. The object of the Kemper petition is to hold the directors of the trust company personally responsible for the losses incurred by the depositors as a result of the collapse of the concern. In the corporation court today a decree was entered confirming the sale of the bank building of the Virginia Safe Deposit and Trust Corporation at Remington to R. L. Willis for the sum of $1,400. Death of James Allison. James Allison, forty years old, al boss driver employed by the Old Dominion Glass Company, died about 11:30 o'clock last night at his home, Fairfax and 1st streets, near the factory where he was employed. Heart trouble is supposed to have been the cause of his death. The deceased was a native of Fauquier county, Va. His wife and a son and daughter survive him. The arrangements for the funeral have not yet been made. As a result of the campaign of publicity waged by the churches for a larger attendance under the auspices of the men and religion forward movement, the servIces at all of the churches here yesterday were largely attended, an increased attendance being noted at all. Brief Mention. A supper and conference will be held at 7 o'clock tonight at the Second Presbyterian Church, when covers will be laid for 100 guests. An address will be made by Rev. Dr. Sumwalt, presiding elder, of Washington. Addresses will also be made by the chairmen of the respective local committees. The members of Fitzgerald Council, Knights of Columbus, at a meeting held yesterday afternoon completed plans for the exemplification of the degree work of the order on a class of seven candidates which will take place in Washington February 22 next. The degree work will be given by C. E. Martin.


Article from Alexandria Gazette, August 5, 1912

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JUDGE Receiver of Va. Safe Deposit and Trust Corporation Quits. HIS REASON IS GIVEN Decision of Court of Appeals That Receivers Must Bring Suit Against Directors is Reason. Judge J. K. M. Norton, one of the receivers of the Virginia Safe Deposit and Trust Corporation has resigned his office as receiver and the resigna- by tion was accepted this morning Judge Louis C. Barley of the Corporation Court. Judge Norton gives as his reason for resigning that the Virginia receiv- Court of Appeals has held that the be must bring any suits that may the ers desired against the directors of dircorporation and that as he was failure a ector six months prior to the it the trust company he felt that of is his duty to resign. Judge Norton's resignation is as follows: "To Louis C. Barley, judge of Al- the Corporation Court for the City of exandria, Virginia: "The Court of Appeals having suits held that receivers must bring any the dithat may be desired against I, rectors of a corporation, and as of at time, was one of the directors about one the said defendant, resigning six months before receivers were appointed, it becomes my duty to resign as receiver. Respectfully submitted, J. K. M. NORTON. The resignation was presented morn- to Judge Barley in chambers this and he entered an order accepting it. At the same time he appoint- commising ed Walter C. Foster a special the sioner in chancery to settle and accounts of the receivers up-to-date court report such settlement to the employ Mr. Foster was authorized to aid him bookkeeper or accountant to adin a the work is he deems the same visable. Judge Norton was appointed one on of receivers of the trust company its the the day following the closing The of othdoors, December 28th, 1910. who receiver was John S. Barbour was er afterwards replaced by Howard W. Smith. The decision of the Supreme Court reVirginia, to which Judge Norton is not of in his letter of resignation, the fers brought in connection with one failure of the Virginia Safe Deposit case Trust Corporation, but is Mecklen- the and of Sanders vs. The Bank of In which is a parallel case. burg, this case, which was decided by the it Supreme Court on June 13th, 1912, of an held that to permit creditors debwas insolvent corporation to sue its would lead to infinate confusion tors the same time the creditors have and rights At which must be protected, imif those upon whom the law has such the duty of guarding rights, posed fail and refuse, after proper be request, to take such steps as may they necessary for their protection, and thus themselves bring suit, may in motion the judicial machinery case set this court. In the Mecklenburg of the depositors filed a suit against which cer directors of the bank failed in tain alleged that the bank and ow- ut they to the careless negligence directing disregard to their duties as ter bill was to ors. and the Circuit demurer and tained the ground that the bill on been brought by the have of by the various this and instead Court important point an decision which out bearing on the bill to directors, decision. important Another in the The the the Supreme demurred sustained dismissed stockholders will Court Alexandria suit the receivers have brought by should sus the the is that the omission in the direccase, precisely at what time their of state assumed the duties of became tors when the complainants bill dedepositors, fice, or does not render the murrable. reference to suit against after direct- the In who died either before or the ors the court held that upon of failure, of an individual, all rights to his death which survived, passed to be personal action representatives, and are asserted by him. This decision will have a most im


Article from The Washington Herald, December 18, 1913

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alleviate the sufferings of her son. Mr. Jett subsequently sought medical treat-ment for his burned hands. FULLY 500 DEPOSITORS ACCEPT COMPROMISE Fully 500 of the depositors in the defunct Virginia Safe Deposit and Trust Corporation have written to Receiver Howard W. Smith, in reply to a circular letter recently sent them, favoring accepting the $20,000 offered by seven directors of the collapsed concern as a compromise for all claims that may be pending against them in connection with the failure of the defunct concern. The majority of the replies received thus far are from out of the city. The total depositors in the corporation numbered about 3,500. C. Jones Rixey was head of this institution and the main bank was in Alexandria with a chain of banks scattered throughout the State. Rixey was sent to the asylum at Staunton, Va., following the collapse of the institution, being adjudged of unsound mind by a commission of alienists. He is still at this institution.


Article from The Washington Herald, February 7, 1914

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DEPOSITORS AGREE TO ACCEPT $20,000 Majority of Those Who Had Money in Virginia Safe Deposit Concern Vote Favorably. Alexandria, Va., Feb. 6.-A majority of the depositors in the defunct Virginia Safe Deposit and Trust Corporation, which institution had its main bank here, with eight branches scattered throughout the State, have voted to accept the offer of $20,000 made by seven of the twelve directors of the concern, who agreed to pay the receiver, Howard W. Smith, the foregoing sum ine settlement of all claims against them in connection with the collapse of the concern. The total majority for the compromise is 74. In this city there were 337 depositors, representing $120,488.64, and out of this number 201, representing $80,260.19, favored a compromise. Basic City and Dillwyn were the*only two branches against accepting the compromise. It is expected that within the next few days the court will enter a decree authorizing the receiver to accept the $20,000 and dismiss the suit pending against the directors of the concern. This means that the depositors will receive an additional dividend of 7 or 8 per cent. They already have received a total of 35 per cent of their deposits since the concern closed its doors. The following are the directors who agree to pay the $20,000: George S. French, Henry K. Field, C. C. Leadbeater, Thomas J. Fannon, Gardner L. Booths, Margaret J. Robinson, administratrix of the will of John R. Robinson; Caroline Baader, executrix, and William Baader and Douglas Stuart, executors of the last will and testament of Henry Baader. The Virginia Safe Deposit and Trust Corporation, of which C. Jones Rixey was president, closed its doors December 29, 1910, as did its eight branch banks at the following places: Gordonsville, Dillwyn, Lovinston, Remington, Culpeper, Charlottesville, Basic City, and Herndon. The closing of these institutions caused a panic among the nearly 4,000 depositors, many of whom had their life savings tied up in the bank. Rixey, the president of the concern, escaped trial by being det clared of unsound mind and is now a I patient in the Western State Asylum, Staunton, Va. Members of Alexandria Council, No. 5, Order of Fraternal Americans, have acH cepted an invitation to take part in the parade to be held here February 23. A e committee of twelve members has been h appointed to complete details. Members on of the order from surrounding counties to and Washington will be invited to pary ticipate. y y Colored public school-teachers of the in State will meet in this city February e 26-27. The school board has granted the b colored teachers a half-holiday on the o 26th, and a full holiday the 27th, in order that they may attend. S Encouraging reports tonight were re= ceived by the George Washington Birthf day Association from the various comI mitees relative to the parade which will n be held February 23. e I The city school board will give the t children of the public schools a holiday p February 23 in observance of Washington's birthday. I c H. T. White has been chosen a teacher c in Hallowell School for Colored Girls h to fill a yacancy caused by death. a a T. M. Burton has purchased from Thomas C. Rawlett and wife two twostory brick dwelling houses, 318 and 320 North Pitt street. A deed of conveyance was placed on record today in the office of the clerk of the Corporation Court. Policeman Roberts has cited a colored man\named Stephen White to appear in the Police Court tomorrow because, it is alleged, he violates a city ordinance by k keeping swine within the city limits.


Article from The Richmond Virginian, May 8, 1914

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Ofice-Madison 1923. Residence-Madison 1779-J. positors who had savings accounts with the defunct concern and the banks who had loaned money on its stock as collateral. will within the next few days receive a dividend of seven per cent. A decree has been entered in the Circuit court by Judge J. B. T. Thornton. in the suit of F. F. Maybury and others against the loan company authorizing Douglass Stewart. receiver of the concern. to pay the dividend. Two previous dividenas. one of 30 per cent. and one of twenty per cent. have already been made. and Receiver Stuart stated today- that there will be another small dividend to the creditors before the affairs of the association are wound up. The stockholders will lose all the money they invested. The Mercantile failed three years ago during Alexandria's black financial period following the closing of the doors of the Virginia Safe Deposit and Trust corporation.