The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-05-20
THE STATE AT LARGE.
PETERSBURG AND VICINITY.
Suspension or the Planters and meen"n'e'
Bauk-Other Banks Meet Promptly All DE
maudx-Couf idence Restored.


Bauk-Other Banks Meet Promptly All De
nnands--Coufidcn Restored.
Correspondence Of the Richmond Dispatsh.I
PETERSBURG, May 10, 1884.
The Planters and Mechanics Bank, OF tnls
city, suspended payment and closed us
doors this morning at half-past O'CLOCK
a balf.hour after opening for business
The following paper, which was posted Oh
the front door, explained the situation:
NoTIcE.-owing TO the stringency in The money
market caused In great part ny the pressn, ~ m
pend operations. A statement OF the condlunh on
the bank is now Icing prepared, which VIII os
made public possible, and we feel assured
IL will prove satisfactory 20 the most scrutinizins'
~ j. T. YOUNG, President
There was sharp run on this bank on
Saturday, which II was hoped and believed
would be withstooo. The run again COM
menced this morning as soon as the doors
were opened, and 1t was deemed necessary
TO suspend. The suspension caused good
deal OF feeling and uneaslness upon the
streets, and gave rise TO a vigorous run OF
several hours upon the Petersburg Savings
and Insurance Bank and the Bank oil Peters.
burg. These banks were fully prepared
and promptly met, dollar for dollar, every
demand made upon them. 1t was notice
able that the run was made by the smaller
depositors. These banks have an alum
dance OF money on hand to meet all their
obligations, aud while small amounts were
being Withdrawn large sums were being
deposited by the Weather class. This
fact restored confidence and gave assurance
OF the perfect solyency OF these banks, and
by O'Clock the run had stopped, all eX-
element had ceased, and business at their
counters had resumed its healthful routine.
1t Is said that the suspension Of the Plan
tiers and Mechanics Bank will he only
temporary, and that business will be re-
sumed as soon rs the securities 1t holds can
be realized upon. This bank was one OF
the repositories of the State as well as OF
the city. 1t is understood that the city had
on deposit with ii to-day very insignii-
cant sum, II any.
The suspension Of this bank caused the
assignment during the day OF the large and
wel-known liquor-house Of Messrs. STRAIT
ton {; Co., on Old street.
All feeling OF uneaSiness and further
trouble has disappeared this afternoon, and
confidence is expressed that no further
complications will result.
In the Mayors Court this morning the
case OF Young George c. Organ, who was
arrested here on Saturday on suspicion OF
having stolen horse and buggy valued at
$3.50, the property of W. III. Cosby, OF
Richmond, was called for examination.
It was shown in the evidence that the
Young man had hired the horse and buggy
for an afternoon, with the privilege OF
keeping them two or three DAYS, and that
he was also authorized by Cosby il he
could get a good price for them to sell
them in Petersburg. He agreed to sell
them here for 1925, but had not asked for
or received the money at the time OF his
arrest. He was permitted to TESTIFY In
his own behalf, and stated that bis agree
ment to sell was all hoax, and that when
arrested he was on his way TO get the team
TO return to Richmond. The matter was
looked upon bv the court rs piece OF
youthful indiScretion, and the prisoner
was discharged.
MIR. Thomas j. Davis, charged with the
murder OF John Ditmar, who was admitted
TO bail at late hour or Saturday night by
Judge Mann, is somewhat improved TO-
day, though still suffering greatly.
Judge Mann announced the appointment
Of Judges Of election this morning at 8
O'Clock. The Democrats are not ut all sat-
isfied with the appointments. and declare
that he has not acted fairly by them. All
they asked was an equal division, but this
was not accorded them.
The two gentlemen who were nominated
for the Council on Friday night by the
Democrats OF Fifth Ward declined by rea-
son Of some misunderstanding prevailing
at the meeting. The Executive Committee
therernon ordered n primary election 10
be held in that ward from II NJ. to 8 Z. NJ.
to-day for the selection OF two candidates.
The voting is going on very briskly. The
Republicans, for some reason best known
to themselves, placed a man at the polls TO
take down llst of the voters This was
deemed an unwarranted intrusion, and
he was summariiy hustled away.
ROBIN ADAIR.