Farmers Bank of Virginia (Richmond, VA)

Episode Information

Episode UID
2931746090805
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
293174609 hash
Start Date
January 19, 1867
Location
Richmond, Virginia (37.554, -77.460)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
06ac2e9c8aacc9a1

Response Measures

None

Description

Suspension predates the assignment; receivership followed and assets were liquidated.

Events (3)
1. January 19, 1867 Other
Newspaper Excerpt
On the 19th instant, the Farmers Bank of Virginia ... made a deed of assignment of all the assets of the bank to Messrs. John M. Goddin and Samuel C. Robinson, trustees, in accordance with the act of the General Assembly of 12th February, 1866, ... The deed conveys the entire proceeds of the bank ... (Daily Dispatch 1867-01-26).
Source
newspapers
2. August 20, 1868 Receivership
Newspaper Excerpt
is hereby given that the undersigned has been appointed by the Circuit Court of the United States for the District of Virginia receiver of all the assets of the Farmers Bank of Virginia and of all its branches. DAVID J. SAUNDERS, Receiver (Daily Dispatch 1868-08-20).
Source
newspapers
3. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had suspended general operations prior to the 1867 assignment, indicating insolvency/financial failure
Newspaper Excerpt
since its general operations were suspended
Source
newspapers

Newspaper Articles (12)
1. January 23, 1867 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, January 23, 1867

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Article Text

FARMERS BANK OF VIRGINIA -- The Richmond Times says:- "This bank on Saturday made a deed of trust, assigning all of its assets to John M. Goddin and Samuel C. Robinson, who are the Cashier and President of the Planters' National Bank. The deed is for the benefit of all its creditors, giving preference to itsnote holders, providing it be lawful. Should such preference not be lawful, then the assignment is for all creditors equally and equitably to share and share alike. The deed also provides for the payment of the salaries of all the officers of this bank since its suspension."

2. January 26, 1867 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, January 26, 1867

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Article Text

ASSIGNMENT OF THE FARMERS BANK.-On the 19th instant, the Farmers Bank of Virginia, through its president, William H. Macfarland, and Directors John E. Wadsworth, James B. Dupuy, Allen Y. Stokes, and Robert A. Mayo, made a deed of assignment of all the assets of the bank to Messrs. John M. Goddin and Samuel C. Robinson, trustees, in accordance with the act of the General Assembly of 12th February, 1866, requiring such deed conveying such assets to be distributed amongst all persons, corporations, and associations entitled to share in such distribution, according to the legal rights and priorities of such persons and corporations at the time such deed shall be executed." The deed conveys the entire proceeds of the bank upon condition that the trustees "shall proceed without delay to convert into current money all the assets of the existing in that form, and the debts the name action, bank by not collecting (using already of and the choses bank in in suits for that purpose when necessary or proper,) or by selling," &c.; sales to be made at such time and upon such terms, and in such manner, as the said trustees may determine. The entire proceeds, after deducting the expenses and the commissions of the trustees, to be appropriated after " paying thereout all salaries due the officers of the bank, and reasonable faes and compensation for professional or other services rendered to the bank since its general operations were suspended," to the redemption of the outstanding circulation or notes of the said bank ratably among the holders thereof, who shall present the same for redemption within six months after the publication of notice" in two or more newspapers in the city of Richmond. It is provided that in the redemption those note. holders who have received partial payment upon their notes shall not receive more until all other holders presenting their claims within the six months shall have received an equal amount upon their notes. It is further provided that those who have taken a specified sum in full satisfaction of their notes, and shall have surrendered the same, shall not be entitled to receive anything further. The residue of the fund in the hands of the trustees to be applied ratably to the satisfaction of all other debts and liabilities. But the deed closes with a proviso relating to the construction of the act of 12th February, 1866, and that part in italics in the beginning of this article. The deed says that, should that be legally construed SO as to require a distribution " among all the creditors of the said bank not having specific liens on property of the bank," then the said assets shall be distributed by the trustees accordingly, and they " shall not make or attempt any distribution giving preference or priority to the noteholder as aforesaid."

3. August 20, 1868 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, August 20, 1868

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Article Text

ALL WHOM IT MAY CONis hereby given that the undersigned has been appointed by the Circuit Court of the United States for the District of Virginia receiver of all the assets of the Farmers Bank of Virginia and of all its branches. All persons indebted to said banks are hereby notified forthwith to pay such debts only to the receiver or his duly authorized agents or attorneys; and all persons having claims against said banks must forthwith file notices of the same, setting forth the amount DAVID J. SAUNDERS, claimed, with me. Receiver. je Tu&FtNovis[1f]

4. August 31, 1868 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, August 31, 1868

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Article Text

OTICE-TO ALL WHOM IT MAY CONCERN.-Notice is hereby given that the unN dersigned has been appointed by the Circuit Court of the United States for the District of Virginia receiver of all the assets of the Farmers Bank of Virginia and or all its branches. All persons indebted to said banks are hereby notified forthwith to p ty such debts only to the receiver or his duly authorized agents or attorneys; and all persons having claims against sald banks must forthwith file notices of the same, setting forth the amount DAVID J. SAUNDERS, claimed, with me. Receiver,

5. March 14, 1870 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, March 14, 1870

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Article Text

By W. Goddin, Auctioneer and Real Estate Agent. ECEIVER'S SALE OF LOT ON THE R NORTH SIDE OF FRANKLIN BETWEEN TWENTY-FIRST AND TWENTY-SECOND STREETS.-At - the request of Mr. David J. Saunders. Receiver of the Farmers Bank of Virginia, I shall sell at auction. on the premises, on THURSDAY the 17th March, 1870, at it o'clock P. M., part of the LOT (No. 63) located as above. fronting 44 feet, running back the depth thereof. TERMS : One-third cash ; balance at four W. GODDIN. months, interest add d. Auctioneer. mh 14

6. May 26, 1871 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, May 26, 1871

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Article Text

DECREES, and whatsoever elso there be. Creditors of the Bank, whose claims have been allowed, are, under said decree, entitled 1. set oil at par their claims against any purchases of said effects they may make. A descriptive list of said effects may be seen at the office of David J. Saunders, on 11th street, between Main and Bank, in Richmond, which the public are invited to call and examine This list will be printed for circulation, and will be ready as soon as it can be prepared. DAVID J. SAUNDERS Receiver Farmers' Bank of Virginia. Richmond, ap 18-lawts

7. May 27, 1871 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, May 27, 1871

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Article Text

DECREES, and whatsoever east were be Creditors of the Bank, whose claima have been allowed, are, under said decree entitled to set off at par their claims against any purchases of said effects they may make A descriptive list of said effects may be seen at the office of David J. Saunders, on 11th street between Main and Bank, in Richmond, which the public are invited to call and examine. Tb list will be printed for circulation, and will be ready an soon as it C&D be p repared. DAVID J. SAUNDERS Receiver Farmers' Bank of Virginia Richmond, up 18-1awts

8. May 29, 1871 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, May 29, 1871

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Article Text

JUDGMENTS DECREES, and whatsoever else there be Creditors of the Bank, whose claim have been allowed. are, under said decree. entitled 1. set oil at par their claims againstany purchase of anid effects they may make A descriptive list of said effects may be seed at the office of David J. Saunders, on 11th street between Main and Bank, in Richmond, which the public are invited to call and examine This list will be printed for circulation, and will be ready us soon as it can be prepared DAVID .I. SAUNDERS, Receiver Farmers' Bank of Virginia. Richmond, ap 18-lawts

9. June 1, 1871 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, June 1, 1871

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Article Text

and elso there be, Creditors of the Bank, whose claims have been allowed. are, under said decree. entitled 1. set off at par their claims against any purchases of said effects they may make. A descriptive list of said effects may be seen at the office of David J. Saunders, on 11th street, between Main and Bank, in Richmond, which the public are invited to call and examine This list will be printed for circulation, and will be ready as soon as it can be prepared. DAVID J. SAUNDERS, Receiver Farmers Bank of Virginia. Richmond, ap 18-lawts

10. June 14, 1871 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, June 14, 1871

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Article Text

DECREES, and whatsoever else there be Creditors of the Bank, whose claims have been allowed. are, under said decree, entitled to set off at par their claims against any purchases of said effects they may make. A descriptive list of said effects may be seen at the office of David J. Saunders, on 11th street, between Main and Bank, in Richmond, which the public are invited to call and examine. This list will be printed for circulation, and will be ready as soon as it can be prepared. DAVID J. SAUNDERS, Receiver Farmers' Bank of Virginia, Richmond, ap 18-lawts

11. June 22, 1871 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, June 22, 1871

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Article Text

GRUBBS & WILLIAMS will sell at 0 P.M. a brick residence at the southwest corner of Cary and Foushee streets. GRUBBS & WILLIAMS will sell at 5) P. M. a brickdwelling and vacant lot on the east side of eighth street, north of Leigh. ISBELL & SON will sell at 5) P. M. a two-story brick house and lot on the west side of 10th, between Byrd and Arch streets. D. J. SAUNDERS receiver, will sell at 10 A. M., at the United States Circuit Court-house, the effects of the late Farm rs' Bank of Virginia. THOMAS W. KEESEE will sell at 10 A. M. two pianos, furniture, &c.

12. October 20, 1873 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 20, 1873

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Article Text

10 In the U. S. Circuit Court, in session Richmond, on Friday, in the case of Payne VS. Farmers' Bank of Virginia, John S. Morson was, by the judge, appointed receiver in place of D. J. Saunders, deceased, and in the case of Mellwaine VS. Bank of Virginia, John E. Taylor was appointed receiver in place of Mr. Saunders. The U. S. District Court, which has been is session in Richmond, has adjourned till November 11th.