Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1879-06-27

SUSPENSION oE THE IURAY RAEk AS o.
ready announced in the Gazette the Page Coun'
ty Bank of Virginia. q saving Institution estsb-
lishcd st;Lursy in 1872 suspended payment or
the 10Th instant The Page Courier ssys:
"The immediate occasion Tor the suspension
was the inability Of the Bank to meet Sll0l
draft of the Wooditock Bank, the Cashier o.
which, Mr.. Borum, had, for some days, beou
fearful that there was something wrong. Or
Thursday evening he Sent Mr.. Haas, a special
agent of the bank, to demand the payment CT
protest Ct the draft, which he did, and was in
formed by B. F. Grayson, ir. Assistant Cashier,
and who, it sesms had had exclusive control o
the sifairs Of the bank, AT he was not able tc
meet the draft. DR.. Smoot. the President, then
went to see the Cashier, 3 +. Grsyson, senior,
b. +. Grsyson, jr., accompanying him and re-
marking 10 his father that tine Bank is broke
and l ain d ruined man. A meeting Of the d.
rectory was called at once and the condition CT
the bank canvaased a5 fully as the meagro in.
formation TO DO Obtained from tho Assistant
Cashier, who seomed daZsd and overwhelmed,
would allow. After short meeting tho hoard
adjourned with the promise from the Assistant
Cashier that he would next day prepare full
statement Of tho condition of the bank, the cash
Ter and directors up TO this time having little
idea Of its real status. On Friday morning Grsy-
son, the Assistant Cashier, went into the bsnk
for the purpose OF protesting tho Woodstock
draft, and leaving the building has not been seen
since, though his family assert that he is still in
the county. 1t is conceded by all parties that
the condition of the bank is due solely and en-
tlrely TO tho missppropristicn OF ils funds by
doc" Grsyson, though how no could have ON.
poycd so largo sum as the def cheney is thought
to be, no one rs yet knows. 1t appears how
ever, that for some time no has been specializing
"a. New Xs-i. 49,, .L-.uoL a. e.oy ~r.vIuu
Of those Gu. thros! and remorseless Brokers who
advertise such largo returns from small invest.
msnta, and who arc all doubtless unmitigaled
scourdrels, ever on tho alert Tor the unsuspicu.
Gus and unwsry. It is feared that his default is
large though no accurate statement can as yet
be made, owing 10 the fact that tho elegant safe
in which are locked all tho books and papers,
he's so far resisted sN efforts TO open it. An ex-
pert from Baltimore has been teiegraphcd for,
bat We cannot tell when he will arrive. The
embeZzement is estimated at from SlI COG 10
$4,000. though Of course the ultimate loss will
not be so great, ss the bank has known assets
amounting 10 from 5000 10 0CJO. and posi-
bly, others which access to the books msy reveal.
On Fridty DOC" Grsyson executed to bis fa.
Their q Decd Of trust covering all his effects,
which Mr.. Grsyson at once assigned to iho bank.
There 10 thought TO be q small amount. abou!
$780, in the STE The indebtedness of tho bank
ia principally to hone depositors, and in some
instances the loss will fail upon persons little
able 10 bear it. A Meeting of the stockholders
and creditors has been csllod for Tuesday, the
LIST day Of July.