Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1884-08-21

Whispers About the Bauk-Suiis-A Beautiful
Bndce Banner The Compromise with
Captain Osborne.
ICouespordence Of the Richmond Dispatch.l
AUGUST go, 1854.
II Is whispered about that IN the matter
oi tie suit Of the State to test the validity
OF the deed made by the Board OF Directors
OF the Planters and Mechanics Bank, on
the ground that without the authority aud
direction Of the stockholders the Board had
no right TO make such deed, motion will
be made to transfer the case from the IIust-
mgs Court OF this city TO the Circuit Court
OF Richmond for trial. Some Of our most
Intelligent men are Of the opinion that
the courts will not upset thi. deed, because
Of the great loss that would thereby be en-
tailed upon the individual depositors.
II IS also whispered about that, in the
interest OF the depositors and creditors
generally. an effort IS being made TO Or
ganize syndicate to pay the banks in
debtedpess 10 the state in coupons. This
proposiiisn is under consideration by some
Of the large creditors Of the bank, but whe-
Their or not this scheme will be adopted can
not now be said.
The Hastings Court meets tomorrow
and it Is probable that during the term
proceedings In some OF these suits will be
inauguraicd.
Mr.. John I. Parham, a member Of APP
IomattoX Commandery, No. O, Knights
Tsmplar. has a banner made OF Templar
badges. representing seVenty-iiye different
communicates in thirly-tWo States and Ter
ritories. Ii also represents the three tri-
ennIal conclayes OF the Grand Encampment
Of knights Tcmplar OF the United states.
held 81 Cleveland in 1877. Chicago In 1880,
and san Francisco in 1888. The badges
were collected by Mr.. Parham. The BAN
ner Is in the shape Of shield, with a red
cross In the centre, Maltese cross in one
corner, and O triangle in the other. The
back Is garnet-satin, with green passion
cross In the centre.
Fanny Jackson. an aged colored woman
residing on Shepherd street, who has been
an invalid for fourteen years. was very
badly burned last night through the careless
use Of kerosene oil. She attempted 70 I'LL
burning lamp, aud The fire communicated
10 the oil. The bed was set on fire, and the
old woman was neorly burned to death be-
fore assistance could reach her.
The residence OF Mr.. +. A. Blick, near
wayerly, was burned yesterday morning.
The Ere was accidental.
Several gentlemen OF this city have been
summoned before the legislative commit
tee In Richmond 10 give evidence Tn refer
snee to the Planters and Mechanics bank.
A meeting Of the stockholders and
creditors OF The Planters and Mechanics
Bank viii be held tonight 10 memorialize
the General Assembly 10 so amend the
banking laws OF the State rs TO give deposi-
tors better protection than they now have.
In the matter Of the compromise inside by
the trustees Of the Planters and Mechanics
Bank With Captain v. VI. Osborne, the fol-
lowing facts are given:
"On the Goth day OF March, 1888, J. G.
Drake and n. VI. Osborne made their Ger.
lain note, payable six months after date 10
the order Of Thomas Whyte. for the benefit
Of the said bank, for the sum OF $1,000.
and delivered 10 the said bank drs,.mor,-
gage q per cent. bonds of the Southern
Telegraph Company TO the amount Of eigb-
teen thousand dollars. There are credits
upon said note As follows: August 10.
1853. 1855; November IL, 1855. S5G2.50;
and May 2, 1854. SJ62.50.
"A few days before the bank closed the
cashier, finding himself skprt VI funds,
without consultation with tbeI,o}Sd Of d.
reetors, and withou. the knowledge Of
either sad Drake or Osborne, carried 10
New York the said bonds, together with
certaln pcteptanees Of j. I. Young and the
said Drake, amounting Ia the aggregate TO
100000. endorsed by The bank. and by.
poihecsted said bonds and accepisnces
with the National Bank Of the Republic 10
secure. first, q cali loan Of 90, 900, and any !
other sum or sums which might ihereafter
be placed 10 the credit OF this bank upon |
call loan. The said sum Of $4,000 Was |
Used by this bank for lis legitimate pur.
Dcxfk ard \ further sum was nIaced Ia IT, /
credit Il aid National hank oi the ifepab. |
IL. The said amount a tl0. 000 was cred |
ited 70 tts said note d sl6, 900 on ITO books