The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1882-09-14
THE Richmond Banking and Insurance Uc

THE Richmond Banking and Insurance 20. !,
of Richmond Va, of which Mr.. Jno. B. Davis
is president. suspended payments on Tuesday
morning. 1t is claimed that the concern will
pay the depositors dollar for dollar, but no
statement of Its affairs has yet been made pub
lie. The amount of deposits was about $780,
OOO including $500, 900 belonging to the State
of Virginia. The State repositories are the
Richmond Banking and Insurance Company
and the Planters National Bank. The capital
stock of the suspended bank is $175 900, with
surplus of 100000. The collapse Of the
Richmond Banking and Insurance Company
was brought about directly. it is understood,
by some hitch in renewing the bond for the
State deposit. Certain parties refused to 60
on the renewal bond. The old bond remains
in effect The sureties are good for the States
deposit, and there will be no trouble on this
score. But the fact that the new bond was not
given caused rigid investigation of the af-
fairs of the institution, which resulted in the
suspension.
trustee for the Banking and Insurance Com
pany, and the necessary papers have been re.
corded in court. =
The Planters National Bank. of which Mr..
Davis was also president, was subjected to a
slight run on Tuesday Many depositors rushed
frantically to draw out their small savings
but the excitement was soon allayed upon the
assurance of the directors, all men of great
wealth, that there was no need of the least ap-
prehenslon. Mr.. DAVIS resigned tho presi
dency of the Planters Bank, and Mr.. Whit
lock and Mr.. j. B. Pace. the latter Millionaire,
were elected Directors of the Planters.
Hon. Jos. Jorgenson.
The following letter from Hon. Jos. Jorgen-
son, for three terms past the representative in
Congress for the 18th District of Virginia, will
explain ITSELF 1t breathes q true spirit and
does credit to the good sense and patriotism
OF the writer. We lay it before our readers,
with pleasure:
WASHINGTON, Sept. 6. 1882.
DR.. Thomas Henang, Thomas Green, ESQ.,, Stephen
Mosely, Esq.,, Albert Walker, Esq.,, and others ::
| Dear Sirs,-Since the adjournment of the
| tainty among my friends throughout the 4th
| Congressional district as to what would be the
course would pursue and whether / would
submit to its action. This was caused by the
| letter | sent to the convention declining to
| permit my name to be presented for nOmina-
| ton and stating that at some future time
would give my reasons in detail. After mature
| and careful reflection, | have come to the con-
clusion that, however l may have deemed my
l ill., L.
| titled in being an obstacle to the success of q
great political reformation, having for its
object the attainment of incalculable benefits
| to the people of Virginia, more especially to
| the Republicans. On different occasiOns-at
public meetings and through published letters
| 4 have given expression of my views and
sentiments-and it is, therefore, unnecessary
| for me to recapitulate them here. Suffice to
say, still entertain these opinions, and have
no doubt that the result of the election in No
vember will confirm all that has already been
| accomplished. Entertaining such convictions,
| have determined under no circumstances
to be a candidate for Congress at the ensuing
election but to support the nominee of the
convention held at Burkevlle, Va, August
10th, 1882 1fully appreciate the friendship
of the thousands of Republicans in my dis
trict who have shown so warm and loyal
personal regard by repeatedly sending me as
their Representative to Congress, ana sin
cerely thank them-much more than mere
words can express. Ican,only say that haveen
deavored faithfully to fulfill my obligations and
to do my duty by them; their appreciation and
confidence have been shown by electing me by
increasing majorities to serve them in three
Congresses-in 1876, by 400 majority; in
1878, by 1900 majority. and in 1880, by $500
majority, to which shall point with pride
and satisfaction hereafter. During the ensu-