The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-09-13
OIyIX CAMP,

VIII lHt
CLINAy CANR.
md the following notice was posted over
he tcller's counter Of the bank:
"The President and Board OF Directors
ire compelled 10 suspend business for the
present. Trustees will be appointed. and
i il confidently believed that dep0siiOrs
will receive dollar Cor dollar.
JOHN Il. DAVIS, President"
OF course this notice caused lutter in
financial circles, and pretty soon crowd /.
in front OF the bank building,
,orner Thirteenth and Main streets. No
excitement Of 4 turl Ulent character, how
.ver. was manifested. Groups Of people
discussed the question and passed their
Judgment upon the issues involved, while
.olicitOus depositors went in and out of the
Iank with rucful looks Of disappointment.
None seemed 10 think that their money was
lopelessly gone. hut the fact OF IT. being
)evOnd immediate control did not strike
pleasantly upon all. some Of them, how
.yer,
LAUGHED Al
he matter, and ioked each other, saying.
= We had just as well laugh a. 10 cry.
The crowd came and went until nearly
midday. when everything in the neighbor-
hood 81 the bank assumed it, wOnted
luietness. Inside the bank the clerical
'orce was busy at work going over the
books and getting their reports ready.
Mr.. John 3. Davis Is the president o' the
Company. Mr.. Joseph b. Davis j. the secre-
.ary. and Mr.. Walter W. GoSden cashier.
The Board Of Directors are John u. Davis.
JOSEF h B. Davis. John *. Childrey, Joseph
Hall. T. W. boswell, ". Is. Martin, and {.
Z. Belvin.
TTE TcEDItTE CArzT
Of the suspension j. chargeable Ia two
facts. some month or six weeks ago the
executor Of Belyin's estate notified Attor-
r. :. Blair hat under the Ia =
pf virginia he would ask that The name of
John A. BelYin be stricken from the IL 81
securities ior State deposits in The Rich
mond Banking and Insurance Company
and the Planters National Bank. This
wss to be done for the protection OF
the estate. II created little talk, and in
due course q time Attorney-GeDeral Blair
notified the Banking and Insurance Com
pany that II must give new bond. or the
State deposits. amounting 10 S3O',OOO.
would be withdrawn. The bond was not
Immediately prepared, and this caused
rurnor 10 De circulated that there was some
difficulty on the part Of Mr.. DaVi. 10 Sc
curing proper endorsement. The hohd
was prepared subsequently, but was never
submitted 20 the Governor. The amount
O, bond required from the Richmond Bank
ing and Insurance Company was sjG0,OOO,
and a similar amount from the Planters
National Bank. both Of which are state de-
po,itOries. These rumors caused
pEPosIToRs TO WITHDRAW
Sims from the bank. some Of the largest
customer. coming forward and taking their
darosjt- away. Thi, did not leave enough
currency 10 lay the states check Tor s5o',-
600. which At any time might be presented,
and this. coupled with other facts caused
the suspension. In searching Tor a cue 10
the above state oi facts il j. found thai Nj:
John Il. Davis. president Of the bauk, hal
become indebted 10 il to the amount OF
S9-j. .OO0. and the knowledge Of thls 1aci
perhap- went q good way towards inducing
the rumor, referred 10. and the subsequent
action ~ which mention has hcen made.
II wa- found impossible YESTERDAY 10
secure an official statement ~ the iiahiiitle'
and g..ct, Of the bank. This viii be pre-
nared in a few DAYS. and will then be made
bubble. Only rough estimate can be gwen
II present.
The capital stock Is Sl7j,oOo; surplus
-tock. So. 900. The deposits are 81 ,ooi
Stqte bonds. and about 100000 besides
making IN all 4 little more than 96OO,O0o.
THE sURETIEs.
on the old bonds given in 1873 and 1875
for the security OF the State IN the mattel
~ dcpositlng it, bonds with the Rlchmone
Ranking and Insurance Company and th'
PLANTERS National Bank are hessrs. JONI
r. Davis. Joseph Hall. John X. Childrey
I A. Bclvin. j. b. Pace, +. u. Christian
" W. Gordon. and Charles Philips
These names are perfectly good for iel
times the amount due the state OF NirgIni'
bv the Richmond Banking and lnsuranc
/ Companv. and not the least concern l. eA
pressed in this behalf.
DEED OF TRUST
was made yesterSly and duly recorded il
the Cbanccry Court OF the city oi klch
mond conveying 10 c. +. Whitlock' tru'
tee. the entire property Of the Kichihob'
Ranking and Insurance Company. - p
ned in the liquidation Of the company
Iiahiiities. The terms Of the deed are gen
eral and no preferred creditors are men
,io,.d II i. the opinion Of those who ar
in position TO know that depositors
WILL NOT LOsE DOLLAR.
Mr.. John 3. Davis Is so Wen known
Richmond businessmen that they nav
-, confidence in his assertions and ialt
- h;s business enterprise. They know nii
- NO generous and honest man, ana ]
r. ,,,ofter no comes forward characteristic
sur and says that he intends 10 convey D
a,,i;re Dronertv 10 the bank FOR the benei
"a ~ creditors. Time and again yesterda
ne uphcsitatingly declared this fact IN u
, rresence OF number. OF witnesses
Nr Dsyis has great deal OF propert!
IL holds 500 shares Of Planters Nauoh
MI stock Lester Manor, the celebrate
.-.'or-rlontation Of $500 acres. IN hin
u William county: Gold Hill, nne stoel
4 - IN Hanover county,; his home-piac
WaodviIIe near Richmond; splendl
{ Iiverr-stahle. known a. the kichthono
: -asr besides other valuable properly :
! :, which he proposes % pace at the ul
,osal ~ ms creditors. With these iaels
, iool AZ there is every reasonable nope IN
: no creditor will sustain io-''
PLANTERS NATIONAL BAsk'
A. navis was president also Of g
= ~ .i No,;onal Rank. and his son, JOSEF
I b. Davis, vicepresident, nnr,x Ine nH inter- q.
q rectors Of this bank very P5Tp'n Pp;iphn:nd s Ran
that the suspension Of the Ke,nUn1 ,rn,,S i~a Dr.i
ing and Insurance CompAn! W. %oua p,..ts, ~,
!, the concern OF deposliors Ill '"' 1 'A-''e'
y They at once took steI's 10
GUARD AGAINST HAHN.
.hou, two weeks ago Mr.: {. S,il Z. WI
= lock, wealthy and th'ry ,ne most relial
n gentleman, and d ONE GSPischmond, M nd became sat
fed Of the impending t,'uJ1. Te visited ,